Hesai (HSAI) Surges Over 13% After Strong Q3 Revenue Results

Nov 26, 2024

Hesai (HSAI, Financial) saw its shares rise by more than 13% to $5.41. The company released its unaudited financial results for the third quarter of 2024, showing impressive performance in the global lidar market.

For the third quarter, Hesai reported revenues of 540 million RMB, marking a 21.1% increase compared to the previous year. The total number of lidar units delivered reached 134,208, a significant rise of 182.9% year-on-year. Deliveries of Advanced Driver Assistance Systems (ADAS) products alone amounted to 129,913 units, up by 220.0% from the same period last year.

The company's ADAS and Robotaxi businesses benefited from a positive cost and scale cycle, as well as development service revenues, resulting in a combined gross margin of 47.7% for the quarter.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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