Horizon Robotics reports YoY surge of 53.6% in 2024 annual revenue

Beijing (Gasgoo)- On March 21, Horizon Robotics released its 2024 financial report, showing annual revenue of 2.384 billion yuan, representing a year-on-year surge of 53.6%.

The company reported a gross profit of 1.841 billion yuan, which spiked 68.3% from a year ago.

As a smart computing and smart driving solution developer, Horizon Robotics accelerated its commercialization in 2024. The company delivered approximately 2.9 million sets of its products to customers, bringing its total cumulative deliveries to around 7.7 million sets. The company secured new supply projects for over 100 vehicle models in 2024, resulting in the cumulative total to more than 310 vehicle models so far.

Last year, Horizon Robotics' smart driving solutions business generated 2.312 billion yuan in total revenue, zooming up 57.2% year on year. Among this, product solutions' revenue reached 664 million yuan (+31.2% YoY), while revenue from licensing and services stood at 1.647 billion yuan (+70.9% YoY).

In April 2024, Horizon Robotics launched its Horizon SuperDrive (HSD) end-to-end Vision-Language-Action (VLA) advanced intelligent driving solution. The first mass-produced vehicle equipped with HSD is expected to be delivered in the third quarter of 2025.

The company's R&D spending for 2024 reached 3.156 billion yuan, growing 33.4% from the year-ago period.

Looking ahead to 2025, with the deployment of high-level intelligent driving systems such as BYD's "God's Eye C" and Li Auto's AD Pro, both powered by Horizon Robotics' Journey 6 series computing solutions, the company anticipates its cumulative Journey series shipments to exceed 10 million units.