RoboSense boasts 121% YoY spike in H1 2024 revenue

Beijing (Gasgoo)- On August 15, smart LiDAR solution provider RoboSense announced its interim results for the first half of 2024 (H1 2024), highlighting significant growth driven by the booming automotive and robotics markets. The company reported total revenue of 727 million yuan, marking a year-over-year spike of 121%.

In the first six months of this year, RoboSenses’ revenue from LiDAR products for Advanced Driver Assistance Systems (ADAS) surged to 610 million yuan, which zoomed up 314.6% from the same period of 2023. LiDAR sale volume reached approximately 243,400 units in the first half of 2024, representing a 415.7% year-over-year soar and nearly matching the annual volume through 2023.

The company's gross profit rose 670.3% from a year ago to 98.6 million yuan in the first half of 2024, with the gross profit margin improving to 13.6% from the 3.9% for the year-ago period. Notably, the gross profit for ADAS products improved from a loss of 52.2 million yuan in H1 2023 to a profit of 68.2 million yuan in H1 2024, with the gross profit margin climbing from -35.5% to 11.2%.

Despite recording an adjusted net loss of 200 million yuan in H1 2024, RoboSense still marked a 17% narrowing in loss compared to the 240-million-yuan loss in the same period last year.

RoboSense remains committed to innovation, with R&D investment increasing by 27.2% year-on-year to 310 million yuan in H1 2024, bringing the total R&D expenditure to nearly 1.5 billion yuan since 2020. As of the second quarter of 2024, over 40% of the company's workforce is engaged in R&D.