Business
ECARX Announces First Quarter 2026 Unaudited Financial Results
LONDON, May 19, 2026 /PRNewswire/ -- ECARX Holdings Inc. (Nasdaq: ECX) ("ECARX" or the "Company"), a leading global automotive intelligence company, today
About this update from Ecarx Holdings Inc.
[{"type":"text","content":"LONDON, May 19, 2026 /PRNewswire/ -- ECARX Holdings Inc. (Nasdaq: ECX) (\"ECARX\" or the \"Company\"), a leading global automotive intelligence company, today announced unaudited financial results for the quarter ended March 31, 2026.\nZiyu Shen, ECARX CEO, commented, \"The first quarter of 2026 was defined by continued disciplined execution and continued global momentum, demonstrating the underlying resilience of our core business. Despite traditional seasonality and a complex macroeconomic environment marked by memory component inflation, our disciplined execution mitigated the modest impact on our topline into meaningful profitability improvements. We successfully expanded our gross margin to 21.4% and nearly halved our operating loss from the same period last year. Perhaps most notably, we achieved our third consecutive quarter of positive adjusted EBITDA at US$4 million. This resilient performance is the direct result of the strategic framework we established late last year where our focus remains firmly on accelerating our globalization strategy, investing in our R&D roadmap, and optimizing our lean operating strategy to sustain profitability. R&D costs were down 32% YoY, driven by continued resource prioritization and the internal deployment of AI across our business to drive innovation while reducing structural costs.We are rapidly accelerating our transformation into a truly global technology leader. To support our expanding commercial footprint and align with global best practices, we have recently actively strengthened our corporate governance and leadership team, separating the roles of Chairperson and CEO and welcoming Lone Fønss Schrøder to lead our Board of Directors, alongside Dylan D. Jeng as our new Chief Financial Officer. With our offices in Singapore now fully operational, and the capital raised late last year actively being deployed, we are well-positioned to execute our expanding pipeline across Europe, the Americas, and Southeast Asia. We remain firmly focused on our target to generate 50% of total revenue from international markets by 2030.Commercially and technologically, our momentum continues to build as we capture higher-value opportunities across our technology stack. Deepening our strategic ecosystem of technology partners remains a core priority, a powerful endorsement of our proven full-stack har...