WeRide (WRD) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached RMB 114.1 million, up 58% year-over-year, driven by Robotaxi deployment, L2++ ADAS growth, and strong L4 vehicle sales.

• Global Robotaxi fleet expanded to 1,300 vehicles, with 2,800 L4 autonomous vehicles deployed or tested in 12 countries and 40+ cities.

• Achieved regulatory firsts for fully driverless commercial operations in the Middle East, Europe, and Singapore.

• GENESIS simulation engine accelerated AI model training and operational scalability.

• WRD 3.0 ADAS solution adopted by nearly 30 vehicle models, supporting NVIDIA, Qualcomm, and SiEngine platforms, and won four consecutive China Urban Intelligent Driving Competition championships.

Financial highlights

• Q1 2026 revenue reached RMB 114.1 million, up 58% year-over-year; product revenue rose 116% to RMB 20.5 million, service revenue increased 49% to RMB 94 million.

• Gross profit grew 56% to RMB 40 million, with a gross margin of ~35%.

• Operating expenses were RMB 469 million; R&D accounted for 77% and increased 12% to RMB 363 million.

• Net loss was RMB 389 million; non-IFRS net loss up 11% to RMB 326 million, mainly due to R&D investment.

• Capital reserves totaled RMB 6.22 billion, including RMB 6.18 billion in cash and equivalents as of March 31, 2026.

Outlook and guidance

• On track to deploy 2,600 Robotaxi worldwide by end of 2026, aiming for 200,000 autonomous vehicles globally by 2030.

• International revenue expected to grow faster and contribute a larger share, supported by positive unit economics.

• Continued focus on entering new regions with proven, replicable models and asset-light strategies.

• Plans to expand robotaxi service into another Tier 1 city in China in 2026.