ECARX Holdings Inc. (ECX) Form 6-K — Aug 11, 2026
ECARX Holdings (Nasdaq: ECX) reported Q2 2026 revenue of US$225.2 million, up 45% year over year, and cut its net loss to US$12.0 million from US$45.4 million a year ago. The company delivered its fourth consecutive quarter of positive adjusted EBITDA at US$0.5 million versus a US$29.8 million adjusted EBITDA loss in the prior-year quarter. Gross profit surged 165% to US$44.5 million as gross margin nearly doubled to 19.8% from 10.8%, driven by a mix shift toward higher-value Antora and Pikes platforms (42% of shipments versus 20% last year) and pricing actions offsetting elevated memory costs. R&D expenses fell 14% and SG&A fell 8% YoY on operational efficiencies and internal AI deployment.
Key figures
- Eps
- -US$0.03 basic and diluted loss per share (Q2 2026 vs -US$0.13 in Q2 2025)
- Revenue
- US$225.2 million (Q2 2026; H1 2026: US$356.7 million)
- Guidance
- Reiterated full-year 2026 total revenue guidance of US$1.0-US$1.1 billion
- Net Income
- US$(12.0) million net loss (Q2 2026) vs US$(45.4) million in Q2 2025
- Revenue Yoy
- +45% (Q2 2026 total revenue)
- Total Assets
- US$986.0 million as of June 30, 2026
- Cash Position
- US$165.5 million total cash as of June 30, 2026, including US$117.8 million reserved for Flyme acquisition purchase consideration
- Design Wins
- 33
- Rd Expenses
- US$29.1 million, down 14% YoY
- Gross Margin
- 19.8% vs 10.8% a year ago
- Gross Profit
- US$44.5 million, up 165% YoY
- Sga Expenses
- US$21.6 million, down 8% YoY
- Units Shipped
- over 550,000 units in Q2 2026
- Cost Of Revenue
- US$180.7 million, up 30% YoY
- Adjusted EBITDA
- US$0.5 million positive (vs -US$29.8 million in Q2 2025); fourth consecutive positive quarter
- H1 2026 Net Loss
- US$(23.0) million vs US$(72.6) million H1 2025
- Service Revenue
- US$28.1 million, up 21% YoY
- Vehicles On Road
- approximately 12 million
- Total Liabilities
- US$1,237.1 million
- High End Product Mix
- Antora and Pikes solutions at 42% of shipments vs 20% prior year; Antora shipments +52% YoY, Pikes +2,000%+ YoY
- Sales Of Goods Revenue
- US$196.4 million, up 50% YoY
- Shareholders Deficit
- US$(265.9) million
- Short Term Borrowings
- US$444.8 million (vs US$310.7 million at December 31, 2025)
- Flyme Acquisition Price
- approximately US$266 million
- H1 2026 Adjusted EBITDA
- US$4.5 million vs US$(44.3) million H1 2025
- Software License Revenue
- US$0.7 million, down 42% YoY
- Convertible Notes Upsizing
- 2025 Convertible Notes capacity increased from US$100 million to US$130 million; additional US$15 million subscription by existing institutional investor
AI analysis
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