- Hesai achieved a net income of 435.9 million yuan ($62.3 million) in 2025, marking its first full-year profitability.
- The company's total LiDAR shipments surged 223% in 2025, topping a record 1.6 million units.
Chinese LiDAR maker Hesai reported its first full-year profit, driven by a surge in demand for its sensors that are widely used in electric vehicles (EVs) and robotics.
The company posted a net income of 435.9 million yuan ($62.3 million) for 2025. That compares with a net loss of 102.4 million yuan a year earlier.
The company said in a statement on Tuesday that it is the world's first LiDAR maker to achieve full-year GAAP profitability.
Net revenues jumped 45.8% to 3.028 billion yuan, a robust growth fueled by solid demand in both the Chinese and global markets.
Despite the revenue surge, the full-year gross margin saw a slight decline, narrowing to 41.8% from 42.6% the previous year.
This was primarily due to an increased revenue contribution from lower-margin advanced driver assistance systems (ADAS) LiDAR. ADAS LiDAR typically carries a lower gross margin than robotics LiDAR, it said.
Total LiDAR shipments grew 222.9% to 1,620,406 units in 2025.
Of that total, ADAS LiDAR shipments soared 202.6% to 1,381,133 units.
The growth in robotics LiDAR was even more remarkable, with shipments surging 425.8% to 239,273 units.
Co-founder and CEO Yifan Li highlighted Hesai's market leadership, noting that the company has secured design wins with all of China's top 10 automakers.
The company is also actively expanding into the mass market for vehicles priced below 100,000 yuan.
As costs drop significantly, LiDAR is beginning to penetrate entirely new market segments.
Hesai recently partnered with Niu Technologies to provide fully solid-state LiDAR for the latter's electric two-wheelers. This marks the sensor's expansion from high-end passenger cars to a broader range of vehicles.
Looking ahead, Hesai expects its strong growth momentum to continue.
For the first quarter of 2026, the company projects net revenues to be between 650 million yuan and 700 million yuan.
Hesai also raised its full-year shipment guidance for 2026, now expecting to deliver between 3 million and 3.5 million LiDAR units.
To meet the surging demand, the company plans to scale its annual production capacity to over 4 million units this year.
