Hesai's third quarter revenue of RMB 1.07B beat estimates while lidar shipments surged 65% YoY

Hesai Group reported strong third quarter 2026 results, highlighted by a revenue beat and record lidar shipment volumes. Total lidar shipments grew 65.3% year-over-year to 729,673 units, while the company's core lidar segment delivered an 88% year-over-year increase in operating income. Management emphasized the company's evolution into a full-stack Physical AI infrastructure platform, noting significant sequential growth in robotic actuation modules and the global launch of the Kosmo 3D world data engine.

Key Highlights

• ADAS lidar shipments increased 67.6% year-over-year to 638,055 units, securing the top market share in China for the 20th consecutive month.
• Strategic Growth Initiatives (SGI) segment revenue reached RMB 90.5 million, with robotic actuation module shipments surging 97% sequentially to 23,405 units.
• GAAP net income of RMB 80.8 million marked the company's sixth consecutive quarter of profitability, despite a one-time gain comparison headwind from 2025.