Hesai Group (HSAI)
Hesai Group, along with its various subsidiaries, focuses on the creation, production, and marketing of three-dimensional light detection and ranging (LiDAR) technologies. These sophisticated LiDAR solutions are utilized in a diverse array of applications, including advanced driver-assistance systems for both passenger and commercial automobiles, autonomous transportation services for people and goods, and specialized robotics like delivery robots, street-cleaning robots, and logistics robots operating in confined spaces. Founded in 2014, the company maintains its headquarters in Shanghai, China.
Sector: General Industrial Machinery & Equipment, NEC
Industry: Auto - Parts
Hesai Group
NASDAQ:HSAIConsumer Cyclical · Auto - Parts
+11.60%$14.33
CLOSED · Nov 6Prev close$12.84+11.60%Close$14.33+0.14%AH close$14.35
AH$14.35+0.14%vs close
Mkt Cap$2.26B
Float75.67M
O/S157.64M
VOL2.14M sh
$ Vol$30.34M
RVOL0.98×
Inst Own22.5%
SI10.8%
Dilution
Financials Summary
Revenue$453.82M
Net Income$65.34M
Total Assets$1.69B
Free Cash Flow-$28.05M
Debt & Equity
Debt 10%
Equity 90%
Total Debt$144.4M
Total Equity$1.34B
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in HSAI's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.69B
Liabilities$345.36M
Accounts Receivable$203.53M
Accounts Payable$88.88M
Inventory$100.56M
PP&E (Net)$181.28M
Goodwill$0
Intangible Assets$14.33M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $453.82M | $311.36M | $281.35M | $180.28M | $108.04M | $62.28M | $52.18M |
| YoY Growth | 45.8% | 10.7% | 56.1% | 66.9% | 73.5% | 19.4% | - |
| Cost of Revenue | $264.19M | $178.76M | $182.22M | $109.53M | $50.81M | $26.47M | $15.5M |
| Gross Profit | $189.63M | $132.6M | $99.14M | $70.75M | $57.23M | $35.81M | $36.68M |
| Gross Margin | 41.8% | 42.6% | 35.2% | 39.2% | 53.0% | 57.5% | 70.3% |
| Research and Development | $119.46M | $128.26M | $118.5M | $83.22M | $55.23M | $34.42M | $22.46M |
| Selling, General, and Administrative | $72.07M | $76.44M | $70.29M | $45.84M | $45.87M | $18.96M | $14.07M |
| Other | -$20.42M | -$41.39M | -$3.98M | -$1.62M | -$4.1M | -$2.31M | $22.35M |
| Total Operating Expenses | $171.11M | $163.31M | $184.82M | $127.44M | $96.99M | $51.07M | $58.87M |
| Operating Income (EBIT) | $18.52M | -$30.71M | -$85.68M | -$56.69M | -$39.77M | -$15.26M | -$22.19M |
| Operating Margin | 4.1% | -9.9% | -30.5% | -31.4% | -36.8% | -24.5% | -42.5% |
| Interest Expense | $2.76M | $1.92M | $460K | $0 | $0 | $0 | $0 |
| Interest Income | $18.99M | $15.65M | $14.96M | $8.8M | $4.88M | $3.14M | $2.86M |
| Other Income (Expense) | $51.44M | $15.54M | $14.43M | $11.6M | $2.9M | -$840K | $4.31M |
| Income Before Tax (EBT) | $69.96M | -$15.18M | -$71.25M | -$45.09M | -$36.87M | -$16.1M | -$17.88M |
| Income Tax Expense | $4.62M | $169K | $99K | -$10K | -$167K | -$30K | $139K |
| Net Income | $65.34M | -$15.35M | -$71.35M | -$45.08M | -$36.7M | -$16.07M | -$18.02M |
| Net Income Margin | 14.4% | -4.9% | -25.4% | -25.0% | -34.0% | -25.8% | -34.5% |
| Supplementary Data | |||||||
| EPS | 3.08 | -0.79 | -3.81 | -5.95 | -23.39 | -1.19 | -1.36 |
| Diluted EPS | 2.87 | -0.79 | -3.81 | -5.95 | -23.39 | -1.19 | -1.36 |
| Weighted Average OS | 139.15M | 129.19M | 124.78M | 125.53M | 125.53M | 95.18M | 88.53M |
| EBITDA | $91.36M | $6.5M | -$57.85M | -$37.05M | -$32.62M | -$12.38M | $3.26M |
| EBITDA Margin | 20.1% | 2.1% | -20.6% | -20.6% | -30.2% | -19.9% | 6.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $250.11M | $425.55M | $233.03M | $136.9M | $67.36M | $38.48M | $2.43M |
| Short-Term Investments | $463.75M | $54.29M | $241.04M | $141.78M | $351.17M | $96.83M | $19.6M |
| Cash and Short-Term Investments | $713.86M | $479.84M | $474.07M | $278.68M | $418.52M | $135.31M | $22.03M |
| Accounts Receivable | $203.53M | $119.51M | $81.62M | $76.36M | $36.76M | $14.19M | $1.14M |
| Inventory | $100.56M | $72.27M | $74.33M | $96.96M | $56.4M | $22.47M | $1.71M |
| Other Current Assets | $42.36M | $3.31M | $5.34M | $2.28M | $1.2M | $4.25M | $165K |
| Total Current Assets | $1.06B | $701.91M | $659.18M | $469.94M | $523.64M | $181.26M | $25.18M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $181.28M | $158.66M | $165.05M | $89.25M | $56.49M | $11.04M | $1.11M |
| Goodwill | $0 | $0 | $0 | $573K | $524K | $546K | $0 |
| Intangible Assets | $14.33M | $17.45M | $17.91M | $9.32M | $9.3M | $2.14M | $279K |
| Long-Term Investments | $417.23M | $4.77M | $4.77M | $4.78M | $285K | $298K | $43K |
| Deferred Tax Assets | $0 | $0 | $1.29M | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $15.95M | $15.03M | $594K | $1.65M | $2.21M | $1.4M | $116K |
| Total Long-Term Assets | $628.78M | $195.91M | $189.61M | $105.57M | $68.8M | $15.42M | $1.55M |
| Other Assets | $1 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $1.69B | $897.82M | $848.79M | $575.51M | $592.44M | $196.68M | $26.73M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $88.88M | $51.72M | $41.48M | $30.98M | $11.58M | $8.31M | $400K |
| Short-Term Debt | $89.76M | $53.27M | $17.83M | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $4.28M | $2.97M | $885K | $17.32M | $225K | $27K |
| Current Unearned Revenue | $3.15M | $4.95M | $11.98M | $6.05M | $18.38M | $0 | $255K |
| Other Current Liabilities | $98.42M | $52.86M | $109.57M | $744K | $837K | $6.96M | $4.36M |
| Total Current Liabilities | $284.28M | $244.17M | $200.13M | $143.23M | $133.73M | $24.99M | $5.84M |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $41.81M | $40.39M | $42.85M | $2.77M | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $66K | $70K | $0 | $15K |
| Other Long-Term Liabilities | $6.44M | $9.16M | $8.97M | $1.96M | $1.49M | $1.23M | $889K |
| Total Long-Term Liabilities | $61.07M | $64.3M | $69.72M | $6.31M | $1.56M | $1.23M | $903K |
| Other Liabilities | $1 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $345.36M | $308.47M | $269.85M | $149.55M | $135.29M | $26.22M | $6.74M |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $23.64M |
| Common Stock | $16K | $13K | $13K | $6K | $6K | $0 | $0 |
| Retained Earnings | -$446.05M | -$511.1M | -$495.76M | -$424.41M | -$328.11M | -$8.4M | -$3.67M |
| Comprehensive Income & Other | $979K | $8.54M | -$38.12M | -$541K | $1.27M | -$93K | $29K |
| Other Stockholders' Equity | $1.79B | $1.1B | $1.07B | -$47.04M | -$45.23M | $178.86M | $23.67M |
| Total Equity | $1.34B | $589.35M | $578.95M | -$471.45M | -$373.34M | $170.46M | $20M |
| Minority Interest | $0 | $0 | $0 | $897.41M | $830.5M | $0 | $0 |
| Total Liabilities and Equity | $1.69B | $897.82M | $848.79M | -$321.9M | -$238.05M | $196.68M | $26.73M |
| Supplementary Data | |||||||
| Total Debt | $144.4M | $110.81M | $83.83M | $9.53M | $0 | $0 | $0 |
| Net Debt | -$105.71M | -$314.74M | -$149.2M | -$127.37M | -$67.36M | -$38.48M | -$2.43M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | |||||||
| Net Income | $63.56M | -$15.35M | -$71.35M | -$45.08M | -$36.7M | -$16.07M | -$18.02M |
| Depreciation & Amortization | $18.56M | $19.76M | $12.93M | $8.04M | $4.23M | $2.88M | $1.46M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $17.4M | $35.17M | $15.77M | $8.14M | $0 | $0 |
| Changes in Working Capital: | |||||||
| Accounts Receivable | $0 | -$39.82M | -$14.67M | -$38.47M | -$17.33M | -$12.36M | $1.04M |
| Inventory | $0 | $4M | $21.88M | -$45.8M | -$35.64M | -$12.53M | -$4.85M |
| Accounts Payable | $0 | $11.24M | $9.22M | $19.32M | $3.27M | $5.43M | -$1.27M |
| Other Working Capital | $0 | $4.14M | $5.58M | -$28.2M | $36.4M | -$25.03M | $29.48M |
| Total Working Capital Change | $0 | -$20.43M | $22.02M | -$93.15M | -$13.3M | -$44.49M | $24.4M |
| Other Non-Cash Items | -$65.05M | $8.14M | $9.81M | $10.09M | $3.39M | $4.91M | -$916K |
| Net Cash from Operating | $17.06M | $9.52M | $8.58M | -$104.33M | -$34.23M | -$52.77M | $6.92M |
| Investing Activities | |||||||
| Capital Expenditures | -$49.9M | -$38.9M | -$60.97M | -$34.66M | -$32.99M | -$9.89M | -$5.93M |
| Acquisitions | $616K | $0 | -$6M | $0 | $0 | $0 | -$2.24M |
| Purchases of Investments | -$954.97M | -$382.02M | -$764.6M | -$841.93M | -$721.44M | -$299.96M | -$276.62M |
| Sales of Investments | $189.05M | $565.98M | $671.43M | $1.05B | $466.82M | $338.27M | $167.95M |
| Other Investing Activities | $5.39M | -$1.77M | $1.19M | -$1.67M | -$9.22M | -$1.58M | $0 |
| Net Cash from Investing | -$809.81M | $143.28M | -$158.95M | $167.83M | -$296.83M | $26.84M | -$116.84M |
| Financing Activities | |||||||
| Debt Repaid | -$18.63M | -$15.01M | -$39.71M | -$2.77M | - | - | - |
| Common Stock Issuance | $659.99M | $0 | $183.69M | $0 | $68.05M | $47.54M | $110.88M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | -$2.62M | $0 | -$76.09M | $0 | $0 |
| Other Financing Activities | -$42.68M | $5.12M | $869K | -$494K | $76M | $943K | $0 |
| Net Cash from Financing | $633.68M | $37.58M | $238.39M | $2.27M | $360.31M | $48.48M | $110.88M |
| Forex Effect | $991K | $2.16M | $8.64M | $3.77M | -$366K | -$974K | $298K |
| Net Change in Cash | -$158.08M | $192.53M | $96.66M | $69.54M | $28.88M | $21.58M | $1.26M |
| Supplementary Data | |||||||
| Operating Cash Flow | $17.06M | $9.52M | $8.58M | -$104.33M | -$34.23M | -$52.77M | $6.92M |
| Capital Expenditure | -$45.11M | -$40.68M | -$62.16M | -$36.03M | -$42.21M | -$11.48M | -$5.93M |
| Free Cash Flow | -$28.05M | -$31.16M | -$53.57M | -$140.36M | -$76.45M | -$64.24M | $988K |
| Cash at Beginning | $408.19M | $233.56M | $136.9M | $67.36M | $38.48M | $16.9M | $15.64M |
| Cash at End | $250.11M | $426.09M | $233.56M | $136.9M | $67.36M | $38.48M | $16.9M |