RoboSense's revenue surges 91.5% YoY in Q1-Q3 2024

Beijing (Gasgoo)- LiDAR solution provider RoboSense released its unaudited financial results for the nine months ending September 30, 2024, reporting robust growth across key metrics.  

The group achieved a total revenue of 1.13 billion yuan in the first three quarters of this year, representing a 91.5% year-on-year soar and surpassing its full-year revenue for 2023. Revenue from LiDAR products for ADAS applications shot up 190.5% from the previous year to 940 million yuan, reflecting strong market demand.  

RoboSense's gross profit for the first three quarters of this year reached 170 million yuan, marking a 375.4% surge compared to the same period in 2023. In the third quarter (Q3) alone, the company's gross profit zoomed up 210.2% year over year to 71.21 million yuan. The group's gross profit margin also improved steadily, rising from 12.3% in Q1 2024 to 17.5% in Q3, driven by better cost control and economies of scale.  

In the first three quarters of this year, RoboSense delivered 381,900 units of LiDAR products, indicating a 259.6% year-on-year growth. Of these, 365,800 units were for ADAS applications, up (+292.9% YoY). The group's cumulative LiDAR deliveries had surpassed 720,000 units by the end of Q3.