Hesai (HSIGF) Gross Margin (2021 - 2026)

Hesai has reported Gross Margin for 6 years, with the latest figure at 39.09% in Q1 2026.

• For the quarter ending Q1 2026, Gross Margin fell 265.0% year-over-year to 39.09%; the trailing twelve-month figure through Mar 2026 stood at 41.2% (down 184.0% YoY), and the FY2025 full-year result was 41.79%, down 80.0% from the prior year.
• Gross Margin for Q1 2026 stood at 39.09%, down from 41.03% in the prior quarter.
• The five-year high for Gross Margin was 50.91% in Q1 2022, with the low at 28.77% in Q2 2023.
• Historically, Gross Margin has averaged 40.01% across 5 years, with a median of 41.03% in 2025.
• Annual changes were most pronounced in 2022 — Gross Margin tumbled 2241 bps — and 2024, when it soared 1719 bps.
• Hesai's Gross Margin stood at 30.02% in 2022, then surged by 37 bps to 41.25% in 2023, then declined by 5 bps to 39.05% in 2024, then climbed by 5 bps to 41.03% in 2025, then decreased by 5 bps to 39.09% in 2026.
• The last three Gross Margin figures came in at 39.09% (Q1 2026), 41.03% (Q4 2025), and 42.1% (Q3 2025), per Business Quant data.