Hesai Group stock: growth
HSAIHesai Group reported $454.03M in revenue for fiscal 2025, up 45.8% on the prior year, up 48.8% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2019 | |
|---|---|---|
| Revenue | 48.8% | 43.4% |
| Revenue per share | 37.9% | 33.0% |
| Earnings | no data | no data |
| Earnings per share | no data | no data |
| Free cash flow | no data | no data |
| Free cash flow per share | no data | no data |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2019 | $52.2M | −$18.03M | $988.26K |
| 2020 | $62.31M | −$16.08M | −$64.27M |
| 2021 | $108.09M | −$36.72M | −$76.48M |
| 2022 | $180.36M | −$45.1M | −$140.43M |
| 2023 | $281.48M | −$71.38M | −$53.6M |
| 2024 | $311.5M | −$15.35M | −$31.17M |
| 2025 | $454.03M | $65.37M | −$28.06M |
Revenue by segment
How Hesai Group makes its money and how that has shifted. Names are as the company reports them.
- Revenue From Lidar Products98%
- Engineering Design, Development And Validation Service And Solution Revenue1%
- Other< 1%
“Other” combines smaller and former segments with revenue the company does not assign to a segment. Names as reported, with abbreviations spelled out for the largest companies.
Figures as a table
| 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|
| Revenue From Lidar Products | $168.3M | $260.23M | $291.95M | $445.89M | 98.2% |
| Engineering Design, Development And Validation Service And Solution Revenue | $6.46M | $15.07M | $15.04M | $5.42M | 1.2% |
| Other | $5.6M | $6.18M | $4.51M | $0 | 0% |
| Total revenue | $180.36M | $281.48M | $311.5M | $454.03M | 100% |
Revenue by region
Where Hesai Group generates its revenue.
- China$353.1M78%
- North America$67.7M15%
- Europe$21.0M5%
- Other$12.2M3%
“Other” combines smaller regions with revenue the company does not assign to a region. The company split earlier years differently. A history would not be comparable, so only 2025 is shown.
Figures as a table
| 2025 | Share 2025 | |
|---|---|---|
| China | $353.12M | 77.8% |
| North America | $67.74M | 14.9% |
| Europe | $21M | 4.6% |
| Other | $12.17M | 2.7% |
| Total revenue | $454.03M | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = CN¥6.6683)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak, published since 7 Nov 2026 (in the score history since 1 May 2026)
- Valuation signal Overvalued since 7 Nov 2026, previously Fairly valued
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.