Gasgoo Munich- ECARX (Nasdaq: ECX) has released its unaudited financial results for the second quarter of 2026. Total revenue rose 45% year-on-year to $225 million. Meanwhile, adjusted EBITDA reached $500,000 — marking the fourth consecutive quarter of overall profitability.
Image source: ECARX
Product sales — the core revenue pillar — increased 50% to $196 million, driving growth. Profitability improved significantly: gross margins rose 9 percentage points to 19.8%, increasing gross profit by 165%. The increase reflects both economies of scale and higher value-added product offerings.
The performance increase is mainly due to a strategic shift toward higher-value products. Shipments of the Antora® and Pekka® solutions accounted for 42% of total volume this quarter, compared to 20% a year earlier. Specifically, Antora® series volume rose 52%, while Pekka® shipments increased more than 20-fold.
While existing business grows, ECARX is making strategic moves. During the period, it completed the agreed acquisition of the Flyme software business to strengthen in-house capabilities for automotive operating systems and software platforms — a key step for software-defined vehicles. Separately, the ORCA LiDAR platform, developed with TPK, reached a milestone. Overseas mass production is scheduled for 2028, enhancing its competitive position in smart-driving perception technology.
Customer partnerships and the project pipeline are also expanding. In the second quarter, ECARX supported the launch of nine new models across four brands and secured 33 new model design wins. By the end of June, its technology solutions had been integrated into more than 12 million vehicles worldwide.
