Hesai reports Q2 EPS (RMB0.34) vs (RMB0.32) last year

Reports Q2 revenue RMB458.9M. Yifan “David” Li, Hesai’s Co-Founder and CEO, commented, “We are delighted to deliver a solid second quarter performance, highlighted by quarterly revenues of RMB458.9 million (US$63.1 million), reaching the high end of our guidance. Total lidar shipments rose 66.1% year-over-year to 86,526 units and blended gross margin remained robust at 45.1%, driven by effective cost management, our flywheel approach to cost and scale optimization, and additional service revenue contributions during the quarter. We are not aware of any other player in the global lidar industry that matches our financial strength while operating on such a massive delivery scale. Our quarterly net loss narrowed significantly by 32.6% quarter-over-quarter to RMB72.1 million (US$9.9 million).”