Hesai Technology, a global leader in lidar technology, has announced its financial results for the third quarter of the 2026 fiscal year (ending September 30, 2026). The company reported a robust performance, with total revenue reaching 1.07 billion yuan, marking a significant year-over-year increase of 34.3%. This figure slightly surpassed market expectations, indicating a positive trajectory for the company.
Key Financial Highlights
During the third quarter, Hesai Technology achieved a gross profit of 439 million yuan, maintaining a gross margin of 41%. The company’s net profit attributable to shareholders stood at 80.79 million yuan, representing a 13.7% increase compared to the same period last year. Notably, this marks the sixth consecutive quarter of GAAP profitability for Hesai, underscoring its consistent financial health.
Strategic Growth Business (SGI) Fuels Expansion
The company’s Strategic Growth Business (SGI) emerged as a key driver of growth in the quarter. SGI revenue soared to 90.51 million yuan, a remarkable 101.4% increase quarter-over-quarter. A significant contributor to this growth is the robotics powertrain module segment, which saw a 96.8% sequential increase in deliveries, reaching 23,405 units. The monthly production capacity has been scaled up to 10,000 units, with full-body joint modules now entering mass production. As of September 30, 2026, cumulative shipments for these modules reached 35,295 units, powering various products from AI robotics company Sharpa.
Lidar Business Maintains Market Leadership
Hesai’s core lidar business continues to demonstrate strong market leadership. Lidar unit deliveries for the quarter totaled 729,673 units, a 65.3% increase year-over-year. According to Gasgoo Auto Research Institute, Hesai held a dominant 43% market share in China’s automotive main lidar market in September 2026, further solidifying its top position.
Globally, Hesai leads the Robotaxi lidar market with a 62% share in 2025, as reported by Yole Group. The company also secured new design wins for its ultra-long-range ETX lidar with five leading global automakers, adding over 1 million units to its order backlog. In a strategic move in September, Hesai partnered with JD.com to leverage its 6D full-color lidar technology for JD’s unmanned logistics vehicles and robotics operations.
Spatial Intelligence Business (KOSMO) Commercializes
Hesai’s 3D world data engine, Kosmo, has officially entered commercialization. The company launched the world’s first 8K ultra-high-definition AI spatial camera, Kosmo One, and the AI cloud platform, Kosmo World. Since the shipment of the first batch of sample machines in July 2026, the Kosmo business has begun contributing to revenue. Partnerships have been established with notable entities including Pixar’s RenderMan, Galaxy Core Robotics, Originate Technology, and Alibaba’s AutoNavi. The initial rollout of 1,000 pilot projects spans various commercial settings such as shopping malls, retail stores, restaurants, hotels, and brand outlets.
Future Outlook
Looking ahead, Hesai Technology anticipates a six-figure annual shipment volume for its robotics powertrain modules in 2027. The company expects its lidar business to penetrate an increasing number of vehicle models and application scenarios. Furthermore, the spatial intelligence business is poised for continued expansion across diverse commercial applications, painting a clearer picture of Hesai’s future growth trajectory.
