WeRide, a Nasdaq-listed autonomous driving company, released its financial results for the first quarter ended March 31, 2026, on May 13.
The company reported total revenue of RMB 114.1 million (USD 16.8 million) in the first quarter, up 57.6% year-on-year (YoY). Product revenue rose 115.8% to RMB 20.5 million (USD 3 million), driven mainly by higher revenue from robotaxis and other Level 4 vehicle sales. Service revenue increased 49% to RMB 93.7 million (USD 13.8 million), supported primarily by intelligent data services and driving assistance services.
WeRide’s gross profit rose 55.9% YoY to RMB 39.6 million (USD 5.8 million), while its gross margin stood at 34.7%, compared with 35% in the same period of 2025. R&D expenses increased 11.5% to RMB 363.3 million (USD 53.4 million). Operating loss narrowed 1.2% YoY to RMB 431 million (USD 63.3 million). Net loss was RMB 389.1 million (USD 57.2 million), compared with RMB 385.1 million (USD 56.6 million) a year earlier.
WeRide’s robotaxi business continued to expand. In Q1, registered users of its robotaxi service in China were about twice the level recorded in the same period of 2025. Average daily orders per vehicle in China exceeded 17, rising to 28 during peak periods. WeRide’s global robotaxi fleet totals about 1,300 vehicles, and the company expects to deploy 200,000 robotaxis and other autonomous vehicles over the next five years.
