On November 26th, Hesai Technology released unaudited financial data for the third quarter of 2024. In the third quarter, Hesai Technology achieved a revenue of 540 million yuan, a year-on-year increase of 21.1%. The total quarterly delivery of LiDAR reached 134000 units, a year-on-year increase of 182.9%. Among them, the delivery volume of ADAS products was 129000 units, a year-on-year increase of 220.0%. The comprehensive gross profit margin of ADAS business and Robotaxi business for this quarter is 47.7%.
In the first nine months of 2024, the total delivery volume of Hesai LiDAR was 279000 units, a year-on-year increase of 108.2%. Among them, the total delivery volume of ADAS products was 263000 units, a year-on-year increase of 129.9%. It is worth noting that Hesai's LiDAR delivery volume has achieved nearly 50% month on month growth for two consecutive quarters, significantly driving revenue growth.