Hesai Group reported second quarter 2026 net revenues of $126.9 million, exceeding analyst estimates of $126.0 million. Total lidar shipments reached 628,275 units, representing a 78.4% year-over-year increase driven by massive growth in the Robotics segment. The company achieved its fifth consecutive quarter of GAAP profitability and raised its full-year revenue guidance for the Strategic Growth Initiatives (SGI) segment following strong early commercial traction for robotic actuation modules.
Key Highlights
- Quarterly lidar shipments rose 78.4% year-over-year to 628,275 units, led by a 193.4% jump in Robotics lidar and a 60.1% increase in ADAS lidar.
- Management raised full-year 2026 revenue guidance for the Strategic Growth Initiatives (SGI) segment to a range of RMB200-300 million, up from the previous RMB100 million target.
- Secured a major global design win with Volkswagen for multiple vehicle models in China and expanded multi-lidar configurations with Li Auto for the L6 model.
- GAAP net income reached $10.4 million, a 60% increase year-over-year, despite continued heavy investment in the SGI platform.
- Retained a strong balance sheet with $1.04 billion in total cash reserves as of June 30, 2026.