Key Takeaways:
WeRide reported Q2 revenue of RMB231.7 million, up 82% from a year earlier and beating the RMB170.7 million consensus estimate.
"The results reflect accelerating overseas expansion and the scaling of our asset-light model," Chief Financial Officer Jennifer Li said.
Overseas revenue climbed 164% year over year and now accounts for nearly 40% of group revenue, while gross margin widened to 37.5% from 28.1% a year earlier. Revenue from the L2++/L3 advanced driver-assistance business surged 2,594% year over year as the company delivered about 30,000 units of its WRD 3.0 solution in the quarter. The L4 fleet reached roughly 3,400 vehicles, including more than 1,800 robotaxis.
The Guangzhou-based company, which trades on Nasdaq under WRD and on the Hong Kong exchange, posted a net loss of RMB400.7 million, wider than the RMB301.3 million analysts expected, as research and development spending rose 36% to RMB434.3 million. EBITDA loss narrowed 8.1% to RMB335.4 million, and the company held RMB5.4 billion in cash at the end of June.
Management expects cumulative L2++/L3 deliveries to exceed 100,000 units by year-end and 500,000 next year, and targets positive cash flow in a single quarter by 2028. The company has secured an L3 proof-of-concept project with Mercedes-Benz and counts Uber, Grab and GreenMobility among its robotaxi partners, with new deployments planned in Madrid, Zurich and Copenhagen.
The wider-than-expected loss shows WeRide remains in a heavy investment phase even as revenue growth accelerates. Investors will watch the second-half rollout of European robotaxi services for signs that overseas margins hold as the fleet scales.
This article is for informational purposes only and does not constitute investment advice.
