Hesai (HSAI) Gross Margin (2021 - 2026)

Hesai (HSAI) has reported Gross Margin for 6 consecutive years, with 39.09% the latest figure, recorded in Q1 2026.

• Gross Margin for Q1 2026 came in at 39.09%, down 265.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 41.2% (down 184.0% YoY), and the FY2025 annual result was 41.79%, down 80.0% from the prior year.
• Gross Margin was 39.09% for Q1 2026 at Hesai, down from 41.03% in the prior quarter.
• Over five years, Gross Margin peaked at 50.91% in Q1 2022 and troughed at 28.77% in Q2 2023.
• Average Gross Margin over 5 years is 40.01%, with a median of 41.03% recorded in 2025.
• Year-over-year, Gross Margin sank 2241 bps in 2022 and surged 1719 bps in 2024.
• Over 5 years, Gross Margin stood at 30.02% in 2022, then surged by 37 bps to 41.25% in 2023, then decreased by 5 bps to 39.05% in 2024, then rose by 5 bps to 41.03% in 2025, then declined by 5 bps to 39.09% in 2026.
• Per Business Quant data, the three most recent Gross Margin figures were 39.09% in Q1 2026, 41.03% in Q4 2025, and 42.1% in Q3 2025.