On August 18, Hesai Group (NASDAQ: HSAI; HKD: 02525) released its unaudited financial results for the second quarter of fiscal year 2026. During the quarter, the company generated RMB 860 million in revenue and reported a GAAP net profit of RMB 70.55 million, representing a year-over-year increase of 60.0%. This marks the fifth consecutive quarter in which Hesai Group has achieved GAAP profitability.
Hesai Group builds its product portfolio around LiDAR, the Kosmo spatial intelligence platform, and robotic power modules, establishing an infrastructure platform tailored for robotics and physical AI. The company stands alone in the industry as the only enterprise covering the full "perception-understanding-execution" chain with successful commercial deployment across all stages.
During this quarter, the Strategic Growth Initiatives (SGI) business contributed revenue for the first time, driven primarily by early commercial breakthroughs in the power module segment. Hesai Group's power modules began generating revenue in the second quarter, with cumulative deliveries surpassing 10,000 units by the end of the period. The product line is expanding from dexterous hand modules to full-body joint modules.
The Kosmo spatial intelligence platform has completed initial prototype deliveries and secured orders from multiple leading humanoid robotics companies, including Galaxy General. Revenue from this platform is expected to begin in the third quarter. Based on the faster-than-anticipated commercial progress and robust market demand for SGI offerings, Hesai Group has raised its full-year 2026 SGI revenue guidance to RMB 200-300 million. The company projects SGI revenue of approximately RMB 700 million in 2027, with breakeven expected that year.
Meanwhile, Hesai Group's LiDAR business continues to lead the market. More than 50 embodied intelligence enterprises, including Unitree Robotics, Ants Lingbo, Glory Robotics, Galaxy General, Xinghai Tu and Yuanli Lingji, have accelerated the adoption of the JT128 LiDAR, propelling large-scale robotics applications. The 6D full-color ultra-sensitive SPAD-SoC chip, codenamed "Picasso," has advanced from R&D to the product integration stage and is now ready for mass production.
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