← Hesai Group
| Annual Trend | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Net Income | ($107.2m) |
($244.8m)
-128.35%
|
($300.8m)
-22.85%
|
($476.0m)
-58.25%
|
($102.4m)
+78.49%
|
$435.9m
+525.76%
|
$435.9m
0.00%
|
|
| Depreciation and amortization | $19.2m | $28.2m | $53.6m | $86.3m | $131.8m | $123.8m | $123.8m | |
| Deferred tax liabilities | ($156k) | ($113k) | ($27k) | ($35k) | $0 | $0 | — | |
| Share-based compensation | — | $54.3m | $105.2m | $234.6m | $116.1m | $114.7m | $114.7m | |
| Impairment of property and equipment | $19k | $22k | $369k | $0 | $0 | $21.8m | — | |
| Share of loss in equity method investee | $4k | $84k | $45k | $45k | $13k | $74k | — | |
| Accounts receivable | ($22.6m) | ($31.7m) | ($390.9m) | ($90.8m) | ($243.3m) | ($524.8m) | ($592.1m) | |
| Inventory write-down | $7.1m | $16.6m | $39.4m | $9.3m | $2.2m | $39.9m | — | |
| Inventories | ($83.6m) | ($237.8m) | ($305.6m) | $146.0m | $26.7m | ($231.5m) | ($231.5m) | |
| Accounts payable | $36.3m | $21.8m | $128.9m | $61.5m | $75.0m | $248.6m | $248.6m | |
| Accrued expenses and other current liabilities | ($143.5m) | $170.1m | ($41.1m) | $80.3m | $88.9m | $166.0m | — | |
| Prepayments and other current assets | ($8.8m) | ($48.6m) | ($33.6m) | ($82.6m) | $17.0m | ($150.6m) | — | |
| Net cash provided by operating activities | ($352.0m) |
($228.4m)
+35.12%
|
($696.0m)
-204.75%
|
$57.3m
+108.23%
|
$63.5m
+10.90%
|
$117.0m
+84.22%
|
$117.0m
0.00%
|
|
| Loss from disposal of property and equipment | $28k | $169k | $369k | $0 | $1.9m | $6.6m | — | |
| Gain from transfer of an intellectual property | — | — | — | $0 | $0 | ($37.0m) | — | |
| Purchases of property and equipment | ($66.0m) | ($220.1m) | ($231.2m) | ($406.7m) | ($259.5m) | ($309.4m) | ($342.2m) | |
| Proceeds from government subsidies after capital expenditure | — | — | $0 | $15.9m | $0 | $0 | — | |
| Proceeds from disposal of property and equipment | $19k | $22k | $369k | $0 | $0 | $4.2m | — | |
| Proceeds from disposal of an intellectual property licensing | — | — | — | $0 | $0 | $37.0m | — | |
| Government subsidies received in advance of capital expenditure | — | — | $0 | $8.2m | $0 | $0 | — | |
| Purchase of property and equipment included in payable | $3.8m | $114.4m | $102.2m | $179.8m | $124.3m | $69.2m | ($342.2m) | |
| Purchases of short-term investments | ($2.0b) | ($4.8b) | ($5.6b) | ($5.1b) | ($2.5b) | ($3.7b) | — | |
| Maturity of short-term investments | $2.3b | $3.1b | $7.0b | $4.5b | $3.8b | $1.0b | — | |
| Purchases of long-term investments | — | — | — | $0 | $0 | ($2.7b) | — | |
| Net cash (used in) provided by investing activities | $179.0m | ($2.0b) | $1.1b | ($1.1b) | $955.9m | ($5.6b) | — | |
| Proceeds from long-term borrowings | — | — | $18.5m | $264.9m | $120.3m | $127.7m | — | |
| Repayment of long-term borrowings | — | — | $0 | $0 | ($20.2m) | $0 | — | |
| Proceeds from short-term borrowings | — | — | $0 | $111.7m | $234.1m | $331.8m | — | |
| Repayment of short-term borrowings | — | — | $0 | $0 | ($117.7m) | ($347.2m) | — | |
| Net cash provided by financing activities | $323.4m |
$2.4b
+643.18%
|
$15.2m
-99.37%
|
$1.6b
+10379.41%
|
$250.7m
-84.24%
|
$4.3b
+1633.67%
|
$4.3b
0.00%
|
|
| Net increase (decrease) in cash and cash equivalents | $150.4m | $195.1m | $438.8m | $587.2m | $1.3b | ($1.1b) | — | |
| Cash, cash equivalents and restricted cash, beginning of the year | $256.7m | $449.4m | $913.3m | $1.6b | $2.8b | $1.7b | — | |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | ($6.5m) | ($2.4m) | $25.1m | $57.6m | $14.4m | ($84.1m) | — | |
| Additional Supplementary Disclosures | ||||||||
| Additional Supplementary Disclosures | ||||||||
| Provision for allowance for credit loss | $4.2m | $2.6m | ($1.8m) | $43.0m | $15.6m | $34.9m | — | |
| Fair value change of financial instruments | — | ($7.7m) | $4.9m | ($15.1m) | ($195k) | ($877k) | — | |
| Foreign exchange (gain) loss, net | $21.5m | $10.9m | ($5.9m) | ($9k) | ($2.6m) | $2.5m | — | |
| Non-cash lease expenses | — | — | $30.3m | $34.4m | $37.4m | $24.4m | — | |
| Gain from disposal of a subsidiary | — | — | $0 | ($6.1m) | $0 | $0 | — | |
| Gain from disposal of equity securities | — | — | — | $0 | $0 | ($175.6m) | — | |
| Loss from disposal of one long-term investment | — | — | — | $0 | $0 | $1.7m | — | |
| Notes receivable | — | — | $0 | $0 | ($22.3m) | ($72.4m) | — | |
| Contract assets | ($39.0m) | ($108.7m) | $134.2m | ($7.1m) | $0 | $0 | — | |
| Amounts due from related parties | ($20.8m) | $24.8m | — | $0 | $0 | $5.0m | — | |
| Other non-current assets | ($4.1m) | ($5.6m) | $2.9m | ($3.2m) | $2.2m | ($3.4m) | — | |
| Amounts due to related parties | ($2.9m) | $24.8m | $0 | $0 | ($5.0m) | ($6.0m) | — | |
| Contract liabilities | ($2.6m) | $113.3m | ($91.7m) | $39.5m | ($46.9m) | ($12.0m) | — | |
| Notes payable | — | — | $0 | $0 | $2.8m | $140.1m | — | |
| Operating leases liabilities | — | — | ($30.1m) | ($34.6m) | ($33.8m) | ($16.6m) | — | |
| Other non-current liabilities | ($3.7m) | $13.8m | $5.5m | $37.8m | $2.5m | ($18.2m) | — | |
| Purchases of land-use right | — | ($43.2m) | — | — | — | — | — | |
| Purchases of intangible assets | ($10.6m) | ($18.3m) | ($9.2m) | ($7.9m) | ($11.8m) | ($32.8m) | — | |
| Purchases of equity securities | — | — | ($30.0m) | $0 | $0 | $100.0m | — | |
| Proceeds from disposal of equity securities | — | — | — | $0 | $0 | $275.6m | — | |
| Cash inflow from disposal of subsidiary | — | — | $0 | $14.4m | $0 | $0 | — | |
| Cash outflow from acquisition of subsidiary, net of cash acquired of RMB 571 | — | — | $0 | ($54.5m) | $0 | $0 | — | |
| Cash distribution to shareholders of Shanghai Hesai in connection with the 2021 Reorganization | — | ($507.6m) | $0 | ($17.5m) | $0 | ($292.7m) | — | |
| Cash contribution from shareholders in connection with the 2021 Reorganization | — | $507.6m | $0 | $17.5m | $0 | $292.7m | — | |
| Proceeds from issuance of ordinary shares of Hesai Group | — | $454.0m | $0 | $1.2b | $0 | $4.2b | — | |
| Payment of offering costs | — | — | ($3.3m) | ($22.8m) | $0 | ($43.7m) | — | |
| Proceeds from issuance of ordinary shares upon the exercise of share options | — | — | $0 | $2.9m | $34.1m | $27.3m | — | |
| Income taxes | ($8.7m) | $213k | ($1.2m) | $0 | $425k | $3.5m | — | |
| Domestic (Chinese Mainland) | — | — | — | $0 | $425k | $144k | — | |
| Income taxes, Foreign | — | — | — | $0 | $0 | $3.4m | — | |
| Interest (net of capitalized amount of RMB 4,433, RMB 1,511 and RMB 651 for the years ended December 31, 2023, 2024 and 2025, respectively) | — | — | $0 | $3.1m | $8.1m | $19.0m | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.