Hesai Group reported second-quarter 2026 net revenue of RMB860.8 million (US$126.9 million), up 21.9% from a year earlier, while net income rose 60.0% to RMB70.6 million (US$10.4 million). Total lidar shipments climbed 78.4% to 628,275 units, with ADAS (advanced driver assistance systems) lidar shipments increasing 60.1% to 485,904 units and robotics lidar shipments jumping 193.4% to 142,371 units. The company said the quarter marked its fifth consecutive quarter of GAAP profitability. Management framed the results as evidence that Hesai is broadening from lidar into a wider robotics and Physical AI infrastructure business. Strategic Growth Initiatives, or SGI, generated first revenue in the quarter, led by robotic actuation modules, while Kosmo, a spatial intelligence platform that converts physical environments into reusable 3D assets, is expected to begin contributing revenue in the third quarter of 2026. Hesai raised its full-year 2026 SGI revenue guidance to RMB200 million-RMB300 million from RMB100 million and said it expects the business to reach about US$100 million in revenue in 2027 and break even in the same year. In its core lidar business, Hesai highlighted design wins and market-share gains across automotive and robotics. It said it expanded JT128 adoption through collaborations with more than 50 embodied AI companies, secured a new ETX design win with Great Wall Motor, expanded multi-lidar use with Li Auto, won another model program with GAC Toyota, and secured a major global design win with Volkswagen covering multiple vehicle models under its China joint ventures. The company also said Picasso, its full-color 6D SPAD-SoC (single-photon avalanche diode system-on-chip), is now SOP-ready and moving through customer validation plus RFI (request for information) and RFQ (request for quotation) discussions with robotaxi operators and global automakers. For the third quarter of 2026, Hesai expects net revenue of RMB1,100 million to RMB1,150 million, implying year-over-year growth of about 38% to 45%, though it said the outlook remains subject to market conditions, operating conditions, and customer demand.