RoboSense’s annual revenue doubles YoY in 2023

Beijing (Gasgoo)- RoboSense, a leading provider of LiDAR solutions, on March 27 released its financial report for the year ended December 31, 2023. The report reveals significant growth in revenue and sales, albeit accompanied by an increase in net loss.

According to the report, RoboSense experienced a remarkable 111.2% year-on-year spike in annual revenue, which stood at 1,120.1 million yuan in 2023. This surge can be attributed primarily to the heightened sales of products during the past year. 

Specifically, revenue from product sales surged by 141.2%, escalating from 399.4 million yuan in 2022 to 963.5 million yuan in 2023. The robust growth is credited to amplified sales of products for Advanced Driver Assistance Systems (ADAS) applications, such as RoboSense’s automotive-grade solid-state LiDAR. In 2023, revenue from the sales of LiDAR products for ADAS applications reached 777.1 million yuan, shooting up 384.6% from a year ago. The total units of LiDAR products sold surged from around 57,000 units in 2022 to approximately 259,600 units in 2023.

Despite the positive revenue trend, RoboSense encountered a net loss increase of 107.6%, rising from 2,086.1 million yuan in 2022 to 4,331.0 million yuan in 2023. However, there was a notable improvement in gross margin, shifting from a loss margin of 7.4% in 2022 to a profit margin of 8.4% in 2023.

Moreover, RoboSense witnessed a significant rise in R&D expenses, which zoomed by 107.6% from 305.9 million yuan in 2022 to 635.1 million yuan in 2023.