RoboSense, a prominent player in LiDAR and AI-driven robotics technology, has reported its interim financial results for the first half of 2024. The company achieved a total revenue of RMB 727 million, reflecting a significant year-on-year growth of around 121%. This impressive growth was accompanied by a significant improvement in the overall gross margin, which rose to 13.6%, up by 9.7 percentage points compared to the same period in 2023.
Record-Breaking Sales Volume
As of 30 June 2024, RoboSense reported a cumulative sales volume of around 583,500 units of LiDAR, with approximately 518,300 units dedicated to Advanced Driver Assistance Systems (ADAS). For the six months ending 30 June 2024, RoboSense achieved a remarkable sales volume of 243,400 LiDAR units, including 234,500 units for ADAS applications and 8,900 units for robotics and other sectors. These numbers show substantial growth of 415.7%, 487.7%, and 21.9%, respectively, when compared to the same period in 2023.
The strong sales performance highlights RoboSense’s robust market position and its ability to meet the growing demand for LiDAR technology across various industries. The company’s success in the ADAS market is particularly noteworthy, as it reflects the increasing adoption of LiDAR sensors in the automotive sector to enhance vehicle safety and automation.
Anticipating Global Market Expansion
Looking ahead, RoboSense expects the global demand for LiDAR technology to rise significantly, driven by the projected growth in motor vehicle sales both in China and internationally. To capitalise on this opportunity, RoboSense introduced two new LiDAR products in the first half of 2024: the cost-effective MX and the high-performance M3. These products are designed to cater to a wide range of applications, offering customers enhanced performance and value.
The automotive industry, where RoboSense’s LiDAR products have already achieved mass production, is just the beginning. RoboSense anticipates that similar industries will emerge within the global robotics technology market. With the rapid advancement of AI, large models, and embodied artificial intelligence, there is significant potential for a robotic intelligent unmanned transformation across traditional industrial and commercial fields. The demand for robotics in new consumer markets is also expected to grow exponentially, positioning RoboSense at the forefront of this technological revolution.
Commitment to Innovation and Technology
As a leader in AI-driven robotics technology, RoboSense is dedicated to significant investments in three core technological areas: AI algorithms, chips, and hardware. The company’s ongoing investment in these areas is aimed at maintaining its leadership in both the automotive and robotics industries. RoboSense plans to expand its product offerings beyond LiDARs, providing more diversified solutions to meet the evolving needs of its customers.
RoboSense’s product platform has already served more than 2,400 customers in the robotics and other business sectors, demonstrating the company’s broad market reach and its ability to deliver innovative solutions across a range of industries. By continuing to invest in cutting-edge technology, RoboSense is well-positioned to drive future growth and maintain its competitive edge in the global market.
In summary, RoboSense’s strong financial performance in the first half of 2024, combined with its commitment to innovation and market expansion, underscores the company’s position as a major player in the rapidly evolving LiDAR and robotics industries.