Revenue From Lidar Products was Hesai’s largest product and service line in fiscal 2025, bringing in $2.97B of $3.03B (98%).
| Product and Service | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Revenue From Lidar Products | $1.12B | $1.74B | $1.95B | $2.97B | ||
| Engineering Design, Development & Validation Service And Solution Revenue | $43.10M | $100.49M | $100.29M | $36.12M | ||
| Revenue From Gas Detection Products | — | — | — | — | ||
| Other Product Revenues | $29.63M | $29.64M | $19.26M | $9.58M | ||
| Other Revenues | — | — | — | — | ||
| Other Service Revenues | $7.70M | $11.61M | $10.83M | $8.54M | ||
| Total | $1.20B | $1.88B | $2.08B | $3.03B |
Hesai brought in $3.03B from its four product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 45.8% from $2.08B in fiscal 2024. Revenue From Lidar Products was the largest at $2.97B (98.2%), ahead of Engineering Design, Development & Validation Service And Solution Revenue at $36.12M (1.2%) and Other Product Revenues at $9.58M (0.3%). The remaining line, Other Service Revenues, brought in $8.54M.
From fiscal 2022 to 2025, combined revenue from these lines grew from $1.20B to $3.03B, a compound annual growth rate of 36.0%. Revenue From Lidar Products' share of the total rose from 93.3% to 98.2%.
Chinese Mainland was Hesai’s largest region in fiscal 2025, bringing in $2.35B of $3.03B (78%).
| Geography | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Chinese Mainland | — | $991.91M | $1.54B | $2.35B | ||
| North America | $358.55M | $748.15M | $280.87M | $451.69M | ||
| Mainland China | $697.29M | — | — | — | ||
| Europe | $86.15M | $70.50M | $161.10M | $140.00M | ||
| Other Regions | $60.67M | $66.43M | $92.40M | $81.16M | ||
| Total | $1.20B | $1.88B | $2.08B | $3.03B |
Hesai brought in $3.03B from its four regions in fiscal 2025, the year ended December 31, 2025. That was up 45.8% from $2.08B in fiscal 2024. Chinese Mainland was the largest at $2.35B (77.8%), ahead of North America at $451.69M (14.9%) and Europe at $140.00M (4.6%). The remaining region, Other Regions, brought in $81.16M.
Compared with fiscal 2024, North America grew fastest, up 60.8% to $451.69M, while Europe fell the most, down 13.1% to $140.00M.
Hesai began breaking out Chinese Mainland in fiscal 2023, when it brought in $991.91M. Hesai stopped reporting Mainland China as a separate region after fiscal 2022, when it brought in $697.29M.
Revenue Recognized At A Point Of Time was Hesai’s largest revenue line in fiscal 2025, bringing in $3.02B of $3.03B (100%).
| Timing of Transfer of Good or Service | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue Recognized At A Point Of Time | $1.18B | $1.78B | $2.04B | $3.02B | |
| Revenue Recognized Over Time | $26.91M | $93.19M | $38.86M | $4.29M | |
| Total | $1.20B | $1.88B | $2.08B | $3.03B |
Hesai brought in $3.03B from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 45.8% from $2.08B in fiscal 2024. Revenue Recognized At A Point Of Time was the largest at $3.02B (99.9%), ahead of Revenue Recognized Over Time at $4.29M (0.1%).
From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $1.20B to $3.03B, a compound annual growth rate of 36.0%. Revenue Recognized At A Point Of Time's share of the total rose from 97.8% to 99.9%.
Hesai (HSAI) reports its revenue by product and service, by geography and by timing of transfer of good or service. In fiscal 2025, Revenue From Lidar Products was its largest product and service line, bringing in $2.97B (98.2% of the total), followed by Engineering Design, Development & Validation Service And Solution Revenue at $36.12M (1.2%).
Revenue From Lidar Products was Hesai's largest product and service line in fiscal 2025, bringing in $2.97B, or 98.2% of the $3.03B total across its four product and service lines.
Chinese Mainland was Hesai's largest region in fiscal 2025, bringing in $2.35B, or 77.8% of the $3.03B total across its four regions.
Revenue Recognized At A Point Of Time was Hesai's largest revenue line in fiscal 2025, bringing in $3.02B, or 99.9% of the $3.03B total across its two revenue lines.
Among Hesai's regions that make up at least 2% of revenue, North America grew fastest in fiscal 2025, up 60.8% from $280.87M to $451.69M.
Every figure comes from Hesai's annual financial filings, as reported. Each line keeps the name Hesai gives it, and years follow its fiscal calendar.
Hesai's revenue by product and service goes back to fiscal 2020, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.