Hesai (HSAI) Operating Expenses (2021 - 2026)
Hesai's (HSAI) quarterly Operating Expenses came in at -$39.8 million in Q1 2026, down 14.32% YoY from -$46.5 million in Q1 2025, and up 9.77% on a QoQ basis from -$44.1 million in Q4 2025.
Hesai (HSAI) Operating Expenses (2021 - 2026) Analysis & Trends
Hesai (HSAI) has 6 years of Operating Expenses data on file, last reported at -$39.8 million in Q1 2026.
- Quarterly Operating Expenses fell 14.32% year-over-year to -$39.8 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$158.9 million (down 7.29% YoY) and the FY2025 annual result came in at $156.8 million, up 5.04% from the prior year.
- Operating Expenses advanced to -$39.8 million in Q1 2026, from -$44.1 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of -$23.9 million in Q4 2024 to a low of -$55.5 million in Q4 2023.
- A 5-year average of -$38.0 million and a median of -$38.5 million in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2024 — Operating Expenses surged 56.96% — and 2025, when it tumbled 84.56%.
- Tracing HSAI's Operating Expenses over 5 years: stood at -$38.1 million in 2022, then plunged by 45.68% to -$55.5 million in 2023, then surged by 56.96% to -$23.9 million in 2024, then plunged by 84.56% to -$44.1 million in 2025, then increased by 9.77% to -$39.8 million in 2026.
- The last three Operating Expenses figures came in at -$39.8 million (Q1 2026), -$44.1 million (Q4 2025), and -$36.2 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | O Reilly Automotive | 73.54 Bn | 73.28 Bn | 2.52 Bn | 1.53 Bn |
| 2 | Autozone | 48.78 Bn | 48.52 Bn | 2.52 Bn | 341.91 Mn |
| 3 | Magna International | 19.33 Bn | 17.90 Bn | 1.61 Bn | 980.00 Mn |
| 4 | Genuine Parts | 18.26 Bn | 17.70 Bn | 2.47 Bn | 2.13 Bn |
| 5 | Borgwarner | 13.15 Bn | 10.70 Bn | 721.00 Mn | 352.00 Mn |
| 6 | Allison Transmission Holdings | 10.71 Bn | 10.31 Bn | 515.00 Mn | 224.00 Mn |
| 7 | Modine Manufacturing | 10.08 Bn | 10.00 Bn | - | - |
| 8 | Aptiv | 9.95 Bn | 9.19 Bn | 775.00 Mn | 2.91 Bn |
| 9 | Autoliv | 9.00 Bn | 8.63 Bn | 509.00 Mn | 260.00 Mn |
| 10 | Hesai | 2.60 Bn | 2.60 Bn | 38.57 Mn | -39.81 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -39.81 Mn |
| Dec 31, 2025 | -44.12 Mn |
| Sep 30, 2025 | -36.18 Mn |
| Jun 30, 2025 | -38.76 Mn |
| Mar 31, 2025 | -34.82 Mn |
| Dec 31, 2024 | -23.90 Mn |
| Sep 30, 2024 | -47.70 Mn |
| Jun 30, 2024 | -41.64 Mn |
| Mar 31, 2024 | -38.46 Mn |
| Dec 31, 2023 | -55.54 Mn |
| Sep 30, 2023 | -41.58 Mn |
| Jun 30, 2023 | -33.74 Mn |
| Mar 31, 2023 | -42.32 Mn |
| Dec 31, 2022 | -38.12 Mn |
| Sep 30, 2022 | -33.02 Mn |
| Jun 30, 2022 | -29.31 Mn |
| Mar 31, 2022 | -26.49 Mn |
| Dec 31, 2021 | -34.71 Mn |