Hesai's Lidar Shipments Surge 141.9% as Next-Gen 6D Full-Color Tech and Mercedes-Benz Partnership Highlight Q1 Transformation
Sector Leadership Supported by Record Lidar Shipments and Global Partnerships
Hesai Group’s first quarter 2026 results reinforce its leadership across the automotive and robotics lidar market. The company shipped 353,441 ADAS lidar units and 118,282 robotics lidar units in Q1, marking a 141.9% and 137.8% year-over-year increase, respectively. Total-lidar shipments soared 140.9% to 471,723 units. This surge comes as Hesai secured a strategic Mercedes-Benz partnership, providing lidar for L3 autonomous vehicles in both Europe and China.
| Segment | Q1 2026 | Q1 2025 | % YoY Change |
|---|---|---|---|
| ADAS Lidar Shipments | 353,441 | 146,087 | 141.9% |
| Robotics Lidar Shipments | 118,282 | 49,731 | 137.8% |
| Total Lidar Shipments | 471,723 | 195,818 | 140.9% |
Profitability Improves as Lidar Core Outshines, Even Amid Margin Pressures
Driven by broad-based demand, Hesai’s Q1 net revenues climbed to RMB680.6 million (US$98.7 million)—a 29.6% YoY gain. The company turned a net income of RMB18.3 million and reached its fourth straight quarter of GAAP profitability. The lidar segment itself delivered roughly RMB42 million operating profit, while overall business growth benefited from scale and recurring revenue initiatives.
| Metric | Q1 2026 | Q1 2025 | % Change |
|---|---|---|---|
| Net Revenues (RMB mn) | 680.6 | 525.3 | 29.6% |
| Gross Margin | 39.1% | 41.7% | - |
| Net Income (RMB mn) | 18.3 | -17.5 | Turned Profitable |
| Non-GAAP Net Income (RMB mn) | 47.7 | 8.6 | 452.9% |
Next-Generation 6D Full-Color Lidar and New Product Ecosystem Open Recurring Revenue Streams
Hesai unveiled Picasso, the industry’s first 6D full-color ultra-sensitive SPAD-SoC that fuses RGB color with spatial depth at the chip level—a leap forward that narrows the gap between lidar and cameras. The flagship ETX model (up to 4,320 channels and 600-meter range) is targeting SOP in H2 2026, and KargoBot has already tapped Hesai’s ETX for the world's first mass-produced 6D full-color lidar deployment.
The Kosmo platform, part of Hesai’s Strategic Growth Initiatives (SGI), marks the company’s first foray into recurring-revenue hardware/software service models, promising major opportunity in spatial intelligence infrastructure across multiple markets like robotics simulation, immersive media, and 4D entertainment.
Business Outlook for Q2: Revenue Growth Anticipated Despite Investment in Expansion
Looking forward, management projects Q2 2026 net revenues between RMB850 and 900 million (US$123–130 million), signaling growth of roughly 20–27% YoY. The SGI segment, currently ramping with Kosmo, is expected to contribute ~RMB100 million in net revenues for the year, with the bulk of growth still anchored in lidar’s expanding global market reach.
Key Takeaways: Market Share, Tech Leadership, and Expansion Strategy Stand Out
- Hesai achieves 55% market share in China’s long-range automotive lidar (triple No.2), featured in 56 vehicle models at the Beijing Auto Show.
- Confirmed supplier for Mercedes-Benz, with lidar programs servicing Europe and China; broadening into Japanese and overseas EV markets.
- Fourth consecutive quarter of GAAP profitability and a 140.9% surge in total lidar shipments.
- Pioneering 6D full-color lidar pushes the frontier for ADAS, robotics, and spatial AI—laying the groundwork for the Physical AI era.
- SGI (Kosmo) platform unlocks significant future recurring revenue potential.
For investors and industry watchers, Hesai’s Q1 report demonstrates operational momentum and strategic pivots that could redefine the competitive landscape for lidar and AI-driven spatial intelligence platforms in the coming years. As market share and profitability climb, the stakes are high for how the company capitalizes on future opportunities and navigates rapid technology adoption in both automotive and robotics sectors.
Data as of March 31, 2026. For full details, visit Hesai Investor Relations.
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