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 solution success, 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 over 40 cities.

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

• GENESIS simulation engine accelerated AI model evolution and enabled four consecutive wins at the China Urban Intelligent Driving Competition.

• International operations expanded with launches in Dubai, Abu Dhabi, Riyadh, Singapore, and Slovakia, and partnerships with Uber, Grab, and Lenovo.

Financial highlights

• Q1 2026 total revenue: RMB 114.1 million (+58% YoY); product revenue: RMB 20.5 million (+116% YoY); service revenue: RMB 94 million (+49% YoY).

• Gross profit: RMB 40 million (+56% YoY); gross margin: ~35%.

• Operating expenses: RMB 469 million; R&D accounted for 77% (R&D expense: RMB 363 million, +12% YoY; excluding SBC: RMB 322 million, +16% YoY).

• Net loss: RMB 389 million (non-IFRS net loss: RMB 326 million, +11% YoY).

• Capital reserve as of March 31, 2026: RMB 6.22 billion (cash and equivalents: RMB 6.18 billion).

Outlook and guidance

• On track to deploy 2,600 Robotaxi worldwide by end of 2026, aiming for 200,000 L4 vehicles globally by 2030, subject to market and regulatory conditions.

• International revenue expected to grow faster and contribute a larger share in 2026, supported by positive unit economics.

• Focus on scaling in existing cities, selective expansion to new cities with strong monetization potential, and entry into another Tier 1 city in China.