Hesai (HSIGF) Research & Development (2021 - 2026)

Hesai has reported Research & Development for 6 years, with the latest figure at -$29.7 million in Q1 2026.

• For the quarter ending Q1 2026, Research & Development fell 17.46% year-over-year to -$29.7 million; the trailing twelve-month figure through Mar 2026 stood at -$116.2 million (up 0.8% YoY), and the FY2025 full-year result was $114.0 million, down 2.78% from the prior year.
• Research & Development for Q1 2026 stood at -$29.7 million, up from -$30.8 million in the prior quarter.
• The five-year high for Research & Development was -$16.4 million in Q2 2022, with the low at -$33.2 million in Q4 2024.
• Historically, Research & Development has averaged -$26.7 million across 5 years, with a median of -$27.3 million in 2024.
• Annual changes were most pronounced in 2023 — Research & Development plunged 84.09% — and 2024, when it climbed 11.32%.
• Hesai's Research & Development stood at -$25.9 million in 2022, then dropped by 24.12% to -$32.2 million in 2023, then declined by 3.19% to -$33.2 million in 2024, then advanced by 7.17% to -$30.8 million in 2025, then gained by 3.74% to -$29.7 million in 2026.
• The last three Research & Development figures came in at -$29.7 million (Q1 2026), -$30.8 million (Q4 2025), and -$27.9 million (Q3 2025), per Business Quant data.