Hesai Group (NASDAQ:HSAI) stock is trading lower in Tuesday’s premarket session after the company reported second-quarter results.
Earnings Snapshot
Hesai’s net income rose 60% year over year to 71 million Chinese yuan. The quarter marked the company’s fifth consecutive quarter of GAAP profitability despite continued investments in its Strategic Growth Initiatives, or SGI.
SGI generated revenue for the first time during the quarter. Robotic actuation modules led the contribution as commercialization and demand exceeded the company’s expectations.
Adjusted earnings came in at 1 cent per share, down from 7 cents a year earlier.
Revenue rose to $126.87 million from $98.61 million in the year-ago quarter.
Meanwhile, ADAS lidar shipments climbed 60.1% year over year to 485,904 units. Robotics lidar shipments surged 193.4% to 142,371 units.
Total lidar shipments increased 78.4% year over year to 628,275 units.
Robotics Push Gains Momentum
CEO Yifan “David” Li said Hesai’s core lidar business continues to scale as demand expands beyond vehicles into humanoid robots and other intelligent machines.
The company has secured new orders from Unitree, Robbyant, Galbot, Galaxea, Dexmal and other customers.
Hesai is also expanding its Kosmo spatial intelligence platform. The technology converts physical environments into reusable, AI-ready 3D assets to help bridge the gap between simulation and real-world deployment.
After prototype deliveries began in July, Hesai secured orders from humanoid robotics companies, including Galbot. The company expects initial revenue from the platform in the third quarter under SGI.
Hesai’s robotic actuation modules also began generating revenue in the second quarter, with Sharpa among its customers. Its production line is now operational, and shipments for dexterous hands are underway. Hesai expects production of full-body joints to ramp soon.
Hesai Raises SGI Outlook
For the third quarter, Hesai expects revenue of $162 million to $169 million.
The company also raised its 2026 SGI revenue forecast to 200 million Chinese yuan to 300 million Chinese yuan from 100 million Chinese yuan.
Hesai expects SGI revenue to reach about $100 million in 2027 and forecasts the business will break even that year.
HSAI Price Action: Hesai shares were down 6.20% at $16.95 during premarket trading on Tuesday, according to Benzinga Pro data.
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