Hesai Reports 46% Revenue Surge, Triples Lidar Shipments in Q1

Hesai Group, a leading Chinese automotive lidar company, reported a substantial increase in lidar shipments, exceeding 195,000 units in Q1 2025, which marks a more than threefold year-over-year rise. This surge contributed to a 46% increase in revenue, reaching approximately $72 million, while the company significantly narrowed its net losses by over 80%. Hesai's lidar products have secured design wins across multiple top Chinese OEMs such as Chery, Great Wall Motor, Zeekr, and Geely, and its ATX lidar is ramping up mass production with 40,000 units shipped in the quarter. Internationally, Hesai has initiated development collaborations with a major Japanese Tier 1 supplier and is pursuing proof-of-concept projects with global OEMs and suppliers in Europe and Japan. Analysts are optimistic about Hesai's outlook, assigning an average one-year price target of $23.16 and maintaining an "Outperform" rating, reflecting confidence in the company's market position and growth potential in the automotive and robotics lidar sectors. Additionally, Hesai indicated strong future revenue growth prospects with expected Q2 revenues rising between 48% and 57%.