Hesai (HSAI) Research & Development (2021 - 2026)
Hesai's (HSAI) quarterly Research & Development came in at -$6.0 million in Q1 2026, up 13.61% YoY from -$5.3 million in Q1 2025, and up 24.17% on a QoQ basis from -$7.9 million in Q4 2025.
Hesai (HSAI) Research & Development (2021 - 2026) Analysis & Trends
Hesai (HSAI) has 6 years of Research & Development data on file, last reported at -$6.0 million in Q1 2026.
- Quarterly Research & Development rose 13.61% year-over-year to -$6.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$26.0 million (up 7.01% YoY) and the FY2025 annual result came in at $114.0 million, up 330.94% from the prior year.
- Research & Development rose to -$6.0 million in Q1 2026, from -$7.9 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of -$3.0 million in Q1 2022 to a low of -$7.9 million in Q4 2025.
- A 5-year average of -$5.7 million and a median of -$6.0 million in 2022 frame the typical range for Research & Development.
- Annual changes were most pronounced in 2024 — Research & Development slumped 106.6% — and 2025, when it climbed 23.01%.
- Tracing HSAI's Research & Development over 5 years: stood at -$6.0 million in 2022, then decreased by 16.64% to -$7.0 million in 2023, then gained by 3.83% to -$6.7 million in 2024, then dropped by 17.96% to -$7.9 million in 2025, then climbed by 24.17% to -$6.0 million in 2026.
- The last three Research & Development figures came in at -$6.0 million (Q1 2026), -$7.9 million (Q4 2025), and -$6.1 million (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | O Reilly Automotive | 73.54 Bn | 73.28 Bn | 2.52 Bn | - |
| 2 | Autozone | 48.78 Bn | 48.52 Bn | 2.52 Bn | - |
| 3 | Magna International | 19.33 Bn | 17.90 Bn | 1.61 Bn | - |
| 4 | Genuine Parts | 18.26 Bn | 17.70 Bn | 2.47 Bn | - |
| 5 | Borgwarner | 13.15 Bn | 10.70 Bn | 721.00 Mn | - |
| 6 | Allison Transmission Holdings | 10.71 Bn | 10.31 Bn | 515.00 Mn | 56.00 Mn |
| 7 | Modine Manufacturing | 10.08 Bn | 10.00 Bn | - | - |
| 8 | Aptiv | 9.95 Bn | 9.19 Bn | 775.00 Mn | - |
| 9 | Autoliv | 9.00 Bn | 8.63 Bn | 509.00 Mn | 122.00 Mn |
| 10 | Hesai | 2.60 Bn | 2.60 Bn | 38.57 Mn | -29.67 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -6.02 Mn |
| Dec 31, 2025 | -7.94 Mn |
| Sep 30, 2025 | -6.13 Mn |
| Jun 30, 2025 | -5.91 Mn |
| Mar 31, 2025 | -6.97 Mn |
| Dec 31, 2024 | -6.73 Mn |
| Sep 30, 2024 | -6.59 Mn |
| Jun 30, 2024 | -7.67 Mn |
| Mar 31, 2024 | -5.81 Mn |
| Dec 31, 2023 | -7.00 Mn |
| Sep 30, 2023 | -5.05 Mn |
| Jun 30, 2023 | -3.71 Mn |
| Mar 31, 2023 | -5.15 Mn |
| Dec 31, 2022 | -6.00 Mn |
| Sep 30, 2022 | -3.47 Mn |
| Jun 30, 2022 | -3.09 Mn |
| Mar 31, 2022 | -3.04 Mn |
| Dec 31, 2021 | -3.31 Mn |