WeRide (WRD) Q3 2025 earnings summary

Executive summary

• Achieved the world's first city-level fully driverless robotaxi commercial permit outside the U.S. in Abu Dhabi, with operations expanding to 11 countries and over 30 cities, including new permits and launches in UAE, Saudi Arabia, Singapore, Switzerland, Belgium, and China.

• Autonomous vehicle fleet surpassed 1,600 L4 vehicles, including nearly 750 robotaxis, with 55 million km of L4 mileage as of October 2025.

• Launched 24/7 fully driverless commercial robotaxi service in Guangzhou and expanded robobus and ADAS product lines in multiple regions.

• Completed dual primary listing on the Hong Kong Stock Exchange, raising HKD 2.39 billion and increasing global investor visibility.

Financial highlights

• Q3 2025 revenue reached RMB 171 million (US$24 million), up 144.3% year-over-year, driven by fleet expansion and service penetration.

• Product revenue grew 428% to RMB 79.2 million; service revenue rose 66.9% to RMB 91.8 million.

• Robotaxi revenue surged 761% year-over-year to RMB 35.3 million, accounting for 20.7% of total revenue.

• Gross profit rose 1,124% to RMB 56.3 million, with gross margin expanding to 32.9%.

• Net loss narrowed to RMB 307.3 million (US$43.2 million), with cash and equivalents at RMB 5.4 billion (US$764.1 million) as of September 30, 2025.

Outlook and guidance

• Plans to expand the Middle East fleet to tens of thousands of robotaxis by 2030, with Abu Dhabi fleet expected to reach over 300 vehicles by end of 2026.

• Expects to launch fully driverless public passenger service in Zurich in the first half of 2026 and commercial operations in Dubai by 2026.

• Intends to replicate the "Abu Dhabi model" in similar markets, leveraging partnerships with Uber and Grab.