Loading...
01/10 22:43
Loading...
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call highlights WeRide's strong financial performance, strategic market expansion, and technological leadership, particularly in robotaxi operations. The optimistic guidance on profitability and expansion into key markets like UAE, Europe, and Asia, alongside partnerships with Uber and Grab, suggest positive stock momentum. However, some uncertainty remains due to regulatory challenges and uninitiated share repurchase programs.
Total Revenue RMB 171 million with a year-over-year growth of 144%, driven by continued fleet expansion and increase in service penetration.
Product Revenue RMB 79 million, a growth of 428%, driven by increased sales of robotaxi and robobuses.
Service Revenue RMB 92 million, a growth of 67%, supported by an increase of RMB 29 million from intelligent data service and an increase of RMB 8 million in autonomous driving-related operational and technical services.
Robotaxi Revenue RMB 35 million, a growth of 761%, accounting for 21% of total revenue, driven by new federal permits in UAE and full driverless robotaxi operation.
Group Level Gross Profit RMB 56 million, an increase of 1,124%, with a gross margin of 33%, demonstrating industry-leading gross margin.
Operating Expense RMB 436 million, a decrease of 51%, with R&D expense accounting for 73% of the total operating expenses.
R&D Expense RMB 316 million, an increase of 24%, driven by an increase of RMB 31 million in service fee for R&D projects, RMB 21 million in personnel-related expense from headcount increase, and RMB 23 million in material consumption and depreciation and amortization expenses.
Administrative Expense RMB 100 million, a decrease of 84%. Excluding share-based compensation, it increased by 23% to RMB 74 million, primarily due to an increase of RMB 6 million in professional service fee and RMB 4 million in personnel costs.
Selling Expenses RMB 19 million, an increase of 23%. Excluding share-based compensation, it increased by 36%, which was well below the sales increase.
Net Loss RMB 307 million, narrowed by 71%. On a non-IFRS basis, adjusted net loss increased 15% to RMB 276 million, largely due to ongoing R&D investment and broader operational support.
Driverless Robotaxi Service: Secured the world's first city-level fully driverless robotaxi commercial permit in Abu Dhabi, UAE. Launched driverless operation through Uber, covering 50% of Abu Dhabi's core area. Plans to extend service hours to 24/7 and increase vehicle utilization to 25 trips per day.
L2+ ADAS System: Launched WePilot 3.0, comparable to Tesla's FSD, with integration into Chery EXEED models and selected by Guangzhou Automotive Group for passenger cars.
Global Expansion: Expanded operations to 11 countries, including Belgium, Switzerland, Singapore, and the UAE. Secured permits for autonomous driving in multiple regions, including the first driverless robotaxi license in Switzerland and a trial permit in Dubai.
Middle East Operations: Launched robotaxi services in Riyadh, Dubai, and Abu Dhabi, with plans to scale the fleet to 500 vehicles by next year and tens of thousands by 2030.
Fleet Expansion: Deployed over 1,600 L4 autonomous vehicles globally, with 300 in Guangzhou and 100 in Beijing. Plans to increase AV test volume in Singapore by 4x by year-end.
Operational Efficiency: Achieved 25 daily trips per robotaxi in Guangzhou and 23 in Beijing, demonstrating high adoption rates.
Technology Integration: Developed the WeRide One Universal platform, integrating L2 to L4 capabilities and leveraging data from both levels to enhance performance.
Profitability Focus: Achieved unit economic breakeven for robotaxi services in Abu Dhabi by removing in-car safety officers, setting a scalable model for global operations.
Regulatory Challenges: The company faces inherent risks and uncertainties related to regulatory approvals and compliance in various countries, as highlighted by the need for permits and licenses for operations in Abu Dhabi, Dubai, Singapore, and Switzerland. Any changes in regulatory frameworks could adversely impact operations.
Operational Scalability: The company aims to scale its fleet to tens of thousands of vehicles by 2030, which presents challenges in terms of operational efficiency, vehicle utilization, and maintaining profitability.
R&D Investment Pressure: High R&D expenses, accounting for 73% of total operating expenses, indicate significant financial pressure to maintain technological leadership. This could strain resources if revenue growth does not keep pace.
Economic Viability: The company’s ability to achieve unit economic breakeven is contingent on removing in-car safety officers and increasing vehicle utilization. Failure to meet these targets could impact profitability.
Competitive Pressures: The company operates in a highly competitive market with players like Waymo and Tesla, which could impact market share and pricing strategies.
Global Expansion Risks: Expanding into 11 countries with different regulatory, cultural, and operational landscapes increases the complexity and risk of execution.
Supply Chain and Production Risks: The company’s reliance on partnerships for ADAS systems and vehicle production introduces risks related to supply chain disruptions and partner reliability.
Financial Sustainability: Despite narrowing net losses, the company still faces significant financial challenges, including a net loss of RMB 307 million in Q3 2025, which could impact long-term sustainability.
Driverless Robotaxi Operations in Abu Dhabi: WeRide has begun full driverless robotaxi operations in Abu Dhabi, with plans to extend service hours to 24/7, increase vehicle utilization to over 25 trips per day, and improve the human-to-vehicle ratio to 1:10. This is expected to lead to healthy unit economics and profitability.
Expansion in Dubai: WeRide plans to launch supervised trials for driverless robotaxi operations in Dubai in 2025, with full commercial operations expected in 2026.
Middle East Fleet Expansion: The company aims to scale its fleet in the Middle East to over 500 vehicles by 2026 and tens of thousands by 2030.
Singapore Operations: WeRide plans to increase autonomous vehicle test volume by 4x in Singapore by the end of 2025 and integrate its technology into Grab's fleet management system for future driverless robotaxi services.
Switzerland Deployment: WeRide expects to launch full driverless public robotaxi services in Switzerland's Furttal region in the first half of 2026.
China Market Expansion: WeRide has launched 24/7 driverless commercial services in Guangzhou and plans to continue scaling its fleet in China, with over 300 robotaxis in Guangzhou and 100 in Beijing as of October 2025.
Robobus Expansion: WeRide plans to deploy over 500 Level 4 robobuses in Hong Kong over the next three years and has received an order for 100 additional robobuses in Guangzhou.
ADAS System Development: WeRide has launched the WePilot 3.0 ADAS system, comparable to Tesla's FSD, and plans to integrate it into mass production vehicles, including models from Guangzhou Automotive Group.
Global Strategy and Technology Integration: WeRide aims to leverage its L2 and L4 data integration to enhance adaptability, reliability, and safety, enabling robust commercial deployment globally.
The selected topic was not discussed during the call.
The earnings call highlights WeRide's strong financial performance, strategic market expansion, and technological leadership, particularly in robotaxi operations. The optimistic guidance on profitability and expansion into key markets like UAE, Europe, and Asia, alongside partnerships with Uber and Grab, suggest positive stock momentum. However, some uncertainty remains due to regulatory challenges and uninitiated share repurchase programs.
The earnings call highlights strong revenue growth, particularly in RoboTaxi and product sales, along with a solid gross margin. Despite a net loss, there is optimism about future growth, supported by strategic international partnerships and a share repurchase program. Positive analyst sentiment in the Q&A, especially regarding partnerships and regulatory environments, further boosts confidence. The increase in operating expenses is balanced by a strong capital reserve, supporting ongoing R&D. Overall, the call suggests a positive outlook for WeRide's stock price over the next two weeks.
The earnings call summary presents a positive outlook with strategic partnerships and product expansions, particularly the collaboration with Uber. Despite a net loss, the company shows promising revenue growth and a strong cash position. The share repurchase program adds confidence. The Q&A session supports this with plans for expansion and cost-effective RoboTaxi economics. However, the lack of specific guidance in some areas tempers the outlook slightly. Overall, the positive elements outweigh the negatives, suggesting a potential stock price increase.
The earnings call shows a mix of positive and negative aspects. Positives include strong product revenue growth, strategic partnerships, and a share repurchase program, indicating confidence in the company's fundamentals. However, significant net losses and high R&D expenses pose financial risks. The Q&A highlighted expansion plans and cost advantages but revealed management's lack of clarity on some operational timelines, which may concern investors. The absence of clear guidance and the company's substantial cash reserves suggest a balanced outlook, leading to a neutral sentiment prediction.
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
