RoboSense Reports Strong Financial Performance in Q1-Q3 2024
Beijing (Gasgoo)- LiDAR solution provider RoboSense recently announced its unaudited financial results for the nine months ending September 30, 2024, showcasing impressive growth in key metrics.
The company recorded a total revenue of 1.13 billion yuan during the first three quarters of the year, representing a significant 91.5% year-on-year increase and surpassing its total revenue for the entire year of 2023. Revenue from LiDAR products designed for ADAS applications saw a remarkable surge of 190.5% year-on-year, reaching 940 million yuan, highlighting the strong market demand for their products.
RoboSense’s gross profit for the first three quarters of 2024 reached 170 million yuan, marking a substantial 375.4% increase compared to the same period in 2023. In the third quarter alone, the company’s gross profit soared by 210.2% year over year to 71.21 million yuan. The company’s gross profit margin also showed steady improvement, rising from 12.3% in Q1 2024 to 17.5% in Q3, driven by enhanced cost control and economies of scale.
During the first three quarters of 2024, RoboSense delivered a total of 381,900 units of LiDAR products, reflecting a remarkable 259.6% year-on-year growth. Of these units, 365,800 were dedicated to ADAS applications, representing a 292.9% increase from the previous year. The company’s cumulative LiDAR deliveries surpassed 720,000 units by the end of Q3, underscoring their strong market presence and growth trajectory.
This robust financial performance solidifies RoboSense’s position as a leading provider of LiDAR solutions for the automotive industry, with their innovative products driving significant revenue growth and market demand.
