Hesai (HSAI) Gross Margin (2021 - 2026)
Hesai's Gross Margin came in at 40.11% for the quarter ended Jun 30, 2026, down 2.43 percentage points from 42.54% a year earlier but up 1.02 percentage points from the prior quarter.
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Analysis
Hesai (HSAI) Gross Margin (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Hesai reported Gross Margin of 40.64%, down 1.89 percentage points year-over-year; for the year ended Dec 31, 2025, it was 41.79%, down 0.80 percentage points from the prior year.
- Gross Margin carries a five-year change of +21.92 percentage points (years ended Dec 2020 to Dec 2025).
- Going back by year, Gross Margin was 42.59% in the year ended Dec 31, 2024 (+7.35 pp), 35.24% in the year ended Dec 31, 2023 (-4.01 pp), 39.25% in the year ended Dec 31, 2022 (+18.90 pp) and 20.34% in the year ended Dec 31, 2021 (+0.48 pp).
- The five-year range for quarterly Gross Margin is 28.77% (the quarter ended Jun 30, 2023) to 52.43% (the quarter ended Dec 31, 2021).
- Year-over-year, Gross Margin increased in three of the last eight quarters, with an average year-over-year change of +0.87 percentage points.
- The fastest year-over-year change in Gross Margin over five years came in the quarter ended Sep 30, 2024 (a gain of 17.45 percentage points), and the weakest in the quarter ended Dec 31, 2022 (a drop of 22.41 percentage points).
- Business Quant data shows HSAI's Gross Margin at 39.09% (quarter ended Mar 31, 2026), 41.03% (quarter ended Dec 31, 2025) and 42.10% (quarter ended Sep 30, 2025) in the three quarters before the quarter ended Jun 30, 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 4,865.08 Bn | 4,612.57 Bn | 54.77 Bn | 50.06% |
| 2 | Cisco Systems | 424.71 Bn | 360.64 Bn | 11.06 Bn | 64.13% |
| 3 | Dell Technologies | 344.52 Bn | 300.28 Bn | 9.83 Bn | 20.93% |
| 4 | Arista Networks | 256.79 Bn | 210.25 Bn | 1.91 Bn | 62.93% |
| 5 | Sandisk | 254.02 Bn | 242.55 Bn | 7.58 Bn | 84.57% |
| 6 | Seagate Technology Holdings | 209.18 Bn | 204.17 Bn | 1.90 Bn | 52.30% |
| 7 | Western Digital | 164.06 Bn | 152.19 Bn | 2.03 Bn | 54.12% |
| 8 | Sony | 144.83 Bn | 95.22 Bn | 6.53 Bn | 36.70% |
| 9 | Lumentum Holdings | 86.05 Bn | 77.87 Bn | 477.30 Mn | 47.43% |
| 10 | Hesai | 2.49 Bn | -1.01 Bn | 50.88 Mn | 40.11% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 40.11% |
| Mar 31, 2026 | 39.09% |
| Dec 31, 2025 | 41.03% |
| Sep 30, 2025 | 42.10% |
| Jun 30, 2025 | 42.54% |
| Mar 31, 2025 | 41.74% |
| Dec 31, 2024 | 39.05% |
| Sep 30, 2024 | 47.74% |
| Jun 30, 2024 | 45.07% |
| Mar 31, 2024 | 38.77% |
| Dec 31, 2023 | 41.25% |
| Sep 30, 2023 | 30.29% |
| Jun 30, 2023 | 28.77% |
| Mar 31, 2023 | 37.68% |
| Dec 31, 2022 | 30.02% |
| Sep 30, 2022 | 37.06% |
| Jun 30, 2022 | 46.84% |
| Mar 31, 2022 | 50.91% |
| Dec 31, 2021 | 52.43% |
API Access
Hesai Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=HSAI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "HSAI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=HSAI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();