Hesai Group (HSAI) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

gentlemen. Thank you for standing by. Welcome to HerSciGroup's first quarter 2025 earnings conference call. At this time, all participants are in listen-only mode. Please note that today's conference call is being recorded. I will now turn the call over to our first speaker today, Yuan-Ting Shi, the company's head of capital markets. Please go ahead. Thank you, operator. Hello, everyone. Thank you for joining He Sai Group's first quarter 2025 earnings conference call. Our earnings release is now available on our IR website at investor.hesai.com, as well as via newswire services. Today, you will hear from our CEO, Dr. David Lee, who will provide an overview of our recent updates. Next, our CFO, Mr. Andrew Fan, will address our financial results before we open the call for questions. Before we continue, I refer you to the safe harbor statement in our earnings press release, which applies to this call, as we will make forward-looking statements. Please also note that the company will discuss non-GAAP measures today, which are more thoroughly explained and reconciled to the most comparable measures reported on the GAAP in our earnings release and SEC filings. With that, I'm pleased to turn over the call to our CEO, Dr. David Lee. David, please go ahead. Thank you, Yuan-Ting, and thank you, everyone, for joining our call today. Let's start with an overview of this quarter's progress. We began with a strong start in 2025, fueled by outstanding momentum in our ADAS and robotics segment, and backed by solid financial results. Our shipments more than tripled year over year to nearly 200,000 LiDAR units in the first quarter, despite the impact of typical seasonal patterns. This explosive growth suited an almost 50% year-over-year jump in our net revenue. Thanks to sharp execut...