HSAI Earnings Prediction
The chart below shows how HSAI performed 10 days before and after its earnings report, based on data from the past quarters. Typically, HSAI sees a -9.24% change in stock price 10 days leading up to the earnings, and a +25.19% change 10 days following the report. On the earnings day itself, the stock moves by -1.78%. This data can give you a slight idea of what to expect for the next quarter's release.
HSAI Key Earning Data
2024/Q4
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HSAI Earnings Analysis
Hesai Group Corporation (HSAI.O) Earnings Conference Call
Positive
Record LiDAR Shipments Growth: Hesai Group achieved record high LiDAR shipments and net revenues in 2024, shipping over 500,000 units and doubling growth for four consecutive years.
LiDAR Profit Milestone: The company became the world's first LiDAR company to achieve full-year non-GAAP net profit, with solid positive operating and net cash flows.
LiDAR Shipment Projections: For 2025, Hesai projects 1.2 million to 1.5 million LiDAR shipments and net revenues of RMB3 billion to RMB3.5 billion, indicating strong growth expectations.
EV Market Boom: China's EV market is booming, with nearly 50% of passenger vehicles being electric in 2024, driving demand for ADAS and LiDAR technology.
ADAS Market Growth in China: ADAS market penetration in China is expected to rise from 8% in 2023 to 70% by 2030, indicating a significant growth opportunity for LiDAR adoption.
LiDAR Market Adoption: Hesai's ATX LiDAR, priced at $200, is positioned to drive mass market adoption, with design wins from 11 OEMs already secured.
Design Wins Expansion: The company has secured design wins for 120 vehicle models across 22 OEMs worldwide, including 9 out of the top 10 largest automakers in China.
LiDAR Solutions Demand Growth: Hesai's robotics LiDAR solutions are gaining traction, with significant orders expected in 2025, including a major multi-year order for mobile robotic lawnmowers.
Strong Operating Cash Flow: The company reported a strong operating cash flow of RMB641 million in Q4 2024, validating its business model and financial strength.
Gross Margin Outlook: Hesai expects to maintain a blended gross margin of around 40% in 2025 while continuing to invest in R&D to enhance competitiveness.
Negative
Blended Gross Margin Decline: - The blended gross margin decreased to 39% in Q4 2024, down from the previous quarter, primarily due to a decrease in higher margin NRE revenues and a shift in product mix towards ADAS shipments.
Non-GAAP Net Loss: - Despite achieving a full-year non-GAAP net profit, the company reported a significant non-GAAP net loss of RMB241 million in 2023, indicating a challenging previous year before the turnaround.
Shipment Growth Projections: - The company anticipates a significant increase in shipments for 2025, but this growth is heavily reliant on the adoption of the newly released ATX LiDAR, which may face competition in the market.
ADAS Sector Dependency: - The reliance on the ADAS sector for over 80% of total shipments in 2025 raises concerns about the company's diversification and potential vulnerability to market fluctuations in that segment.
Market Entry Challenges: - The company is entering a highly competitive market with its ATX LiDAR priced at approximately $200, which may pressure margins if competitors respond with lower pricing strategies.
2025 GAAP Profitability Forecast: - The forecast for GAAP profitability in 2025 is projected at RMB200 million to RMB350 million, which, while an improvement, still indicates a cautious approach to profitability compared to the previous year's performance.
HSAI FAQs
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HSAI Earning Call Sentiment
Hesai Group (HSAI) Q4 2024 Earnings Call Transcript
HSAI.O
-1.15%Positive
The earnings call indicates strong financial performance with revenue and profit growth, despite a slight decline in gross margins. The company's guidance is optimistic, with expected profitability and market expansion. New product launches and design wins with global OEMs bolster confidence. The Q&A session highlighted significant opportunities in the robotics market and ongoing cost management, despite some concerns about competition and regulatory issues. The absence of a share repurchase program is a minor negative factor. Overall, the positive aspects outweigh the negatives, suggesting a positive stock price reaction.
