Hesai Group reported second-quarter financial results showing substantial operational growth alongside raised full-year guidance. The 3D perception technology company generated revenue of RMB860.8 million ($126.9 million) for the quarter ended June 30, 2026, representing 21.9% year-over-year expansion from RMB706.4 million in the prior-year period. Net income climbed 60% year-on-year to RMB70.6 million ($10.4 million), while adjusted earnings per share reached RMB0.08 ($0.01).
Product shipment volumes expanded across core business segments during the quarter. The company delivered 628,275 lidar units overall, with ADAS lidar shipments climbing 60% year-on-year to 485,904 units and robotics lidar volumes surging 193% to 142,371 units. The robust shipment expansion reflected growing commercial adoption across automotive and robotics applications. However, the shift toward higher-volume, lower-margin products resulted in gross margin contraction to 40.1% from 42.5% in the comparable 2025 period.
Hesai elevated its financial projections significantly following the quarterly announcement. The company increased Strategic Growth Initiatives revenue guidance to a range of RMB200 million to RMB300 million, compared with prior expectations of RMB100 million—representing a 150% increase at the midpoint of RMB250 million. The company also forecasted third-quarter 2026 revenue between RMB1.10 billion ($162 million) and RMB1.15 billion ($169 million), implying year-over-year growth of approximately 38% to 45%. Management projected SGI revenue of approximately $100 million in 2027 alongside achievement of breakeven status that year.
Market reaction diverged from the operational momentum reflected in the results. Despite the revenue acceleration, profitability gains, and upgraded guidance, Hesai Group shares declined more than 6% in pre-market trading following the announcement. The stock movement reflected investor sentiment that appeared resistant to the company’s demonstrated growth trajectory and enhanced financial outlook.
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