Hesai Group, a leading lidar manufacturer, reported its first quarter 2026 unaudited financial results on May 19, 2026. The company posted revenue of $1.2 billion, a 48% increase compared to the same period last year, driven by strong demand for its lidar sensors used in autonomous vehicles and advanced driver-assistance systems (ADAS).
The net income for the quarter was $150 million, up from $80 million in Q1 2025, reflecting improved operational efficiency and scale. Hesai shipped over 200,000 lidar units in the quarter, a record high for the company.
CEO David Li stated, 'Our strong performance in Q1 2026 underscores the growing adoption of lidar technology in the automotive industry. We continue to expand our customer base and invest in next-generation products.'
Hesai's gross margin improved to 38% from 35% a year earlier, driven by cost reductions and higher volumes. The company also announced a new partnership with a major European automaker for series production lidar integration.
