RoboSense forecasts at least 45.5% YoY surge in 2024 annual revenue

Beijing (Gasgoo)- On February 24, LiDAR company RoboSense released its earnings forecast, predicting annual revenue from 1.63 billion to 1.67 billion yuan in 2024, which would reflect a substantial year-on-year growth of approximately 45.5% to 49.1%.

However, the company expects a net loss attributable to its shareholders of around 430 million to 520 million yuan, a significant reduction of about 88% to 90.1% compared to the same period in 2023.

RoboSense attributes its revenue growth to increased product sales. The narrowed losses are mainly due to a significant improvement in the gross margin of LiDAR products, particularly in LiDAR technology for ADAS applications, reduced stock-based compensation, and the conversion of all preferred shares into common stock during the IPO, which substantially decreased the fair value changes of financial instruments issued to investors.

In 2024, the company's annual LiDAR sales reached approximately 544,200 units, doubling the 259,600 units sold in 2023. According to data from Gasgoo Auto Research Institute, RoboSense's LiDAR accounted for 33.5% (514,995 units) of China’s total LiDAR installation volume among the passenger car market last year, making it the top supplier.

Notably, RoboSense recently completed the production and delivery of its one millionth LiDAR unit, becoming the world's first company to achieve this milestone for high-performance LiDAR systems.