Gasgoo Munich-On Nov. 10, Hesai Technology (NASDAQ:HSAI; HKEX:2525) reported unaudited financial results for the third quarter of 2026.
Revenue for the quarter climbed to 1.07 billion yuan — a 34.3% increase from a year earlier — while GAAP net income came in at 80.79 million yuan. That marks the sixth straight quarter of GAAP profitability. Overall gross margin held steady at 41.0%. Notably, revenue from Strategic Growth Initiatives (SGI) surged 101.4% quarter-over-quarter to 90.51 million yuan.
Image source: Hesai Technology
Breaking down the numbers, lidar deliveries hit 729,673 units in the third quarter — a 65.3% jump from the previous year.
Li Yifan, co-founder and CEO of Hesai, attributed the momentum to three main drivers. First, the ETX ultra-high-resolution lidar secured design wins from five leading automakers, including a top European brand and Cadillac. Second, adoption of multi-lidar configurations continues to rise in both Chinese and overseas markets. Third, new projects with Wuling and Chery are expanding the company's reach into high-volume mass-market models and export channels.
Hesai is also scaling up in robotics and physical AI. Deliveries of robot power modules reached 23,405 sets in the third quarter — a 96.8% surge from the previous quarter — as monthly production capacity lifted to 10,000 units. Whole-body joint modules have also entered mass production.
By the end of September 2026, cumulative shipments of robot power modules totaled 35,295 sets. The company forecasts full-year 2027 shipments will reach six figures.
Image source: Hesai Technology
Currently, Hesai's power modules power Sharpa’s flagship tactile dexterous hand, the Wave (W01). Boasting 22 active degrees of freedom and a 1:1 anatomical structure to the human hand, the device has been integrated into Nvidia’s Isaac GR00T humanoid robot reference platform. It is also being utilized by top-tier global institutions including UC Berkeley, Stanford, and Nanyang Technological University.
Additionally, Sharpa’s D01 — the first integrated tactile perception dexterous manipulation robot unveiled at IROS 2026 — and the new-generation W02 full-tactile lightweight dexterous hand both feature Hesai’s power modules. Hesai self-developed critical components for these modules, including reducers and motors.
Image source: Hesai Technology
In October, Hesai globally launched Kosmo, a 3D world data engine, alongside the Kosmo One — the world's first 8K ultra-high-definition AI spatial camera — and the AI-driven cloud platform Kosmo World. Kosmo transforms real-world environments into high-fidelity, editable 3D assets ready for direct AI use. Initial prototype units began generating revenue just months after shipment.
In the field of embodied AI, Kosmo has forged strategic partnerships with Galaxea Robotics and Origin Robotics to drive frontier breakthroughs. On the spatial commerce front, Kosmo has teamed up with Alibaba’s Amap, launching an initial 1,000 pilot programs across shopping malls, retail stores, restaurants, hotels, and brand outlets.
Fan Peng, CFO of Hesai Technology, said the company is reaffirming its 2026 SGI revenue guidance of 200 million to 300 million yuan, citing the above progress and new income streams from Kosmo.
