Hesai Group income statement

In fiscal 2025, Hesai Group reported revenue of $421m, up 45.9% on the year before, operating income of $23.5m (a 5.6% margin) and net income of $60.7m, or $0.41 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Hesai Group: income statement, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	60	112	179	265	289	421
Cost of revenue	26	53	109	172	166	245
Gross profit	35	59	70	93	123	176
Research and development	33	57	83	112	119	111
Selling and marketing	7	11	16	21	27	27
General and administrative	11	37	30	45	44	40
Operating income	−15	−41	−56	−81	−28	23
Interest expense	—	—	0	0	2	3
Provision for credit losses	1	0	−0	0	0	0
Income before tax	−16	−38	−45	−67	−14	65
Income tax	−0	−0	−0	0	0	4
Net income	−16	−38	−45	−67	−14	61
Diluted EPS	−$0.17	−$3.63	−$0.96	−$0.54	−$0.11	$0.41
Diluted shares (average)	90m	105m	116m	125m	129m	146m
EBITDA	−12	−37	−48	−69	−10	41

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

Compare with peers

Head to head: HSAI vs STRT HLLY vs HSAI CVGI vs HSAI

More: Automotive Parts & Equipment stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Hesai Group's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Hesai Group.