Hesai Group HSAI

Industrials SIC 3569 - General Industrial Machinery & Equipment, NEC NAICS Manufacturing › Machinery Manufacturing › Other General Purpose Machinery Manufacturing › All Other General Purpose Machinery Manufacturing › All Other Miscellaneous General Purpose Machinery Manufacturing derived Nasdaq

Last close —
Market cap —
52-week range — - —

No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.

Valuation FY2025 figures against the last close

P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS0.43

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Revenue $432.9M$284.6M$264.4M$174.4M——
Cost of revenue $252.0M$163.4M$171.2M$105.9M——
Gross profit $180.9M$121.2M$93.2M$68.4M——
R&D $114.0M$117.2M$111.3M$80.5M——
SG&A $41.3M$43.4M$45.1M$29.1M——
Total operating expenses $156.8M$149.3M$173.7M$123.3M——
Operating income $24.1M-$28.1M-$80.5M-$54.8M——
Interest expense $2.7M$1.8M$432.0K———
Pre-tax income $66.8M-$13.9M-$66.9M-$43.6M——
Income tax $4.4M$155.0K$93.0K$10.0K——
Net income $62.3M-$14.0M-$67.0M-$43.6M——
EPS, basic 0.45-0.11-0.54-0.94——
EPS, diluted 0.43-0.11-0.54-0.94——
Shares, diluted (wtd. avg.) 146.4M129.2M124.8M115.5M105.0M89.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Cash and equivalents $237.9M$406.5M$213.5M$128.6M$65.2M—
Short-term investments $442.1M$49.6M$223.4M$137.1M——
Receivables $180.5M$104.8M$73.9M$70.3M——
Inventory $95.9M$66.1M$69.8M$93.8M——
Total current assets $1.01B$641.5M$619.4M$454.5M——
Property, plant and equipment ——$122.8M$73.2M——
Goodwill ——$0$554.0K——
Other intangibles $13.7M$10.5M$11.1M$3.0M——
Total assets $1.61B$820.6M$797.6M$556.7M——
Accounts payable $84.7M$47.3M$38.0M$30.0M——
Short-term debt $64.1M$47.3M$15.7M———
Total current liabilities $271.0M$223.2M$188.0M$138.5M——
Long-term debt $39.9M$36.9M$40.3M$2.7M——
Total liabilities $329.3M$281.9M$253.6M$144.6M——
Retained earnings -$425.3M-$467.1M-$465.8M-$410.5M——
Total equity $1.28B$538.6M$544.0M-$456.0M——

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Operating cash flow $16.7M$8.7M$8.1M-$100.9M——
Depreciation and amortisation $17.7M$18.1M$12.2M$7.8M——
Stock-based compensation $16.4M$15.9M$33.0M$15.3M——
Capital expenditure $44.2M$35.6M$57.3M$33.5M——
Investing cash flow -$794.2M$131.0M-$149.4M$162.3M——
Financing cash flow $621.5M$34.3M$224.0M$2.2M——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-048025.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M Revenue, FY2022: 174.4M Gross profit, FY2022: 68.4M Net income, FY2022: -43.6M Revenue, FY2023: 264.4M Gross profit, FY2023: 93.2M Net income, FY2023: -67M Revenue, FY2024: 284.6M Gross profit, FY2024: 121.2M Net income, FY2024: -14M Revenue, FY2025: 432.9M Gross profit, FY2025: 180.9M Net income, FY2025: 62.3M FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — — $174.4M $264.4M $284.6M $432.9M
Gross profit — — $68.4M $93.2M $121.2M $180.9M
Net income — — -$43.6M -$67.0M -$14.0M $62.3M

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