Hesai Technology's Stock Price Falls Over 4% on Weak Guidance

LootboxPhobia · 2026-03-24T15:31:46+00:00

Hesai Technology released fourth quarter results that exceeded expectations, but first quarter revenue guidance fell short of analyst expectations, causing the stock price to decline 4.28%. Fourth quarter earnings per share were $0.16, with revenue growing 39% year-over-year. The company achieved full-year GAAP profitability with net income of $62.3 million and plans to raise its 2026 shipment target to 3 to 3.5 million units.

LootboxPhobia

2026-03-24 15:31:46

Abstract generation in progress

Shanghai — On Tuesday, Hesai Technology (NASDAQ: HSAI) announced quarterly results that exceeded expectations, but its first-quarter revenue guidance fell below analyst forecasts.

The company’s stock dropped 4.28% in pre-market trading following the announcement.

This lidar solution provider reported an adjusted earnings per share of $0.16 for the fourth quarter, with revenue reaching $143.07 million, a 39% year-over-year increase from $71.98 million in the same period last year.

Revenue growth was driven by increased demand for ADAS and robotic lidar products in China and global markets. However, the company’s first-quarter 2026 revenue guidance is between $93 million and $100 million, below the analyst consensus of $108.3 million, with a median of $96.5 million, 11% lower than expectations.

Total lidar shipments in the quarter surged 184% year-over-year to 631,095 units, including ADAS lidar shipments up 185% to 550,723 units, and robotic lidar shipments up 179% to 80,372 units.

Gross margin increased from 39.0% in the same period last year to 41.0%, benefiting from effective cost optimization across two product lines.

For the full year 2025, Hesai achieved a significant milestone as the first lidar company to become profitable on a full-year GAAP basis, with revenue of $432.9 million, up 46% year-over-year, and net profit reaching $62.3 million. The company’s total shipments for the year more than doubled to over 1.6 million units.

Co-founder and CEO Dr. Li Yifan stated, “2025 was a milestone year. Hesai became the first lidar company to achieve full-year GAAP profitability. We secured design wins from all top ten Chinese automakers, entered the mass market below 100,000 yuan, seized the L3 lidar inflection point, and accelerated global expansion through partnerships with companies like NVIDIA.”

The company has raised its 2026 shipment forecast to between 3 million and 3.5 million units and is expanding annual production capacity to over 4 million units.

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