Hesai Group Reports 34% Year-over-Year Revenue Growth in Q3 2026
Hesai Group (HSAI) reported strong third-quarter 2026 financial results, with total net revenues reaching RMB 1,068 million ($159 million), a 34% increase year-over-year. This marks the company's tenth consecutive quarter of growth. Despite headwinds in the broader automotive market, lidar shipments grew 65% year-over-year to nearly 730,000 units, and the Lidar segment operating income rose 88% to RMB 145 million. The company is successfully diversifying its revenue streams, with non-automotive segments now exceeding 50% of total revenue. This shift is driven by significant expansion in robotics and 3D world data businesses. While management noted softer demand in the general automotive sector, Hesai's SGI segment has already surpassed its original full-year revenue target, prompting a reaffirmed guidance of RMB 200 million to RMB 300 million for the remainder of 2026.
Tickers: $HSAI
Topics: Financial Guidance Lidar Shipments Net Income Revenue Growth