Hesai (HSAI) Gross Margin (2021 - 2026)

Hesai (HSAI) has reported Gross Margin for 6 consecutive years, with 40.11% the latest figure, recorded in Q2 2026.

• For the quarter ending Q2 2026, Gross Margin fell 243.0% year-over-year to 40.11%; the trailing twelve-month figure through Jun 2026 stood at 40.64% (down 189.0% YoY), and the FY2025 full-year result was 41.79%, down 80.0% from the prior year.
• Gross Margin improved to 40.11% in Q2 2026 per HSAI's latest filing, from 39.09% in the prior quarter.
• Across five years, Gross Margin topped out at 50.91% in Q1 2022 and bottomed at 28.77% in Q2 2023.
• Historically, Gross Margin has averaged 40.0% across 5 years, with a median of 40.57% in 2025.
• The sharpest annual moves came in 2022 and 2024: Gross Margin plunged 2241 bps in 2022, then soared 1745 bps in 2024.
• Over 5 years, Gross Margin stood at 30.02% in 2022, then jumped by 37 bps to 41.25% in 2023, then retreated by 5 bps to 39.05% in 2024, then increased by 5 bps to 41.03% in 2025, then retreated by 2 bps to 40.11% in 2026.
• According to Business Quant data, Gross Margin over the past three periods registered 40.11%, 39.09%, and 41.03% for Q2 2026, Q1 2026, and Q4 2025 respectively.