Half Year 2026 Horizon Robotics Earnings Call Transcript
Key Points
- Horizon Robotics (HAM:8YO) reported strong revenue growth of 32.9% year-over-year to RMB2.055 billion in the first half of 2026, with a high gross margin of 66%.
- The company's market share in the urban NOA computing platform segment among Chinese domestic brands rose to approximately 23%, jumping from third to second place within six months.
- Horizon Robotics (HAM:8YO) has secured design wins with top Chinese automakers and major joint ventures like Volkswagen and Toyota, with HSD solutions expected to be mass-produced on their platforms by the end of the year.
- The company's license and service revenue grew by 52.7% year-over-year, driven by continued licensing of algorithms and software to key customers like Terazone and a major global automotive parts company.
- Horizon Robotics (HAM:8YO) has expanded beyond automotive into robotics and embodied intelligence, empowering over 100 downstream robot categories and serving over 400 customers, with its open-source models being used by institutions like NVIDIA, Meta, and Stanford University.
- The domestic passenger vehicle market in China weakened significantly in the first half of 2026, with retail sales down by more than 20% year-over-year, creating a challenging operating environment.
- The company's adjusted operating loss widened to RMB1.3 billion, and adjusted net loss reached RMB1.67 billion, reflecting continued heavy investment in R&D and cloud-related training costs.
- Gross margin for product solutions was diluted to 36.2% due to bundling of non-core demand control units to accelerate HSD mass production, though this was noted as a one-time impact.
- R&D expenses, including SBC, exceeded RMB2.7 billion, and combined with SG&A, total expenses increased by approximately RMB650 million year-over-year, driven largely by cloud-related training losses.
- The company faces intense competition in the advanced intelligent driving market, with a U.S. tech company still holding the top market share position, and the overall industry is characterized by a price war among automakers.
Greetings, ladies and gentlemen. Welcome to Horizon Robotics 2026 Interim Results Conference Call.
At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded. I would now like to turn the call over to your host, Mrs. Xuan Jiang, VP and Board Secretary and Head of Investor Relations of Horizon Robotics.
Thank you, Xuan. You may begin.
Thank you. Good evening, ladies and gentlemen. Welcome to the investor conference call and audio webcast hosted by Horizon Robotics. On today's call, we have Dr. Kai Yu, Horizon's founder, CEO, and the Chairman of the board, and Mr. Lei Wang, CFO and head of big capital markets.
We'll begin with Dr. Kai sharing our latest strategic and business development. This will be followed by Lei's review of the company's financial performance. First half of 2026.
We will then proceed to the Q&
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