WeRide Inc. (NASDAQ: WRD; HKEX: 0800) released its financial results for the first half and second quarter of 2026 today. For the first half of 2026, the company reported revenue of 346 million yuan (approximately $51 million), a 73.3% increase from 200 million yuan in the same period last year.
International expansion became the most powerful growth engine, with overseas revenue soaring 154% in the first half of the year. In the second quarter, overseas revenue jumped 164% year-over-year and 169% quarter-over-quarter. WeRide's European robotaxi projects have been launched successively, its pure driverless operations in the Middle East continue to expand, and right-hand-drive robotaxis are planned for deployment in Singapore and Hong Kong. This accelerates the replication of its proven, asset-light model to more markets. The company's operations now cover 60 cities across 13 countries.
As of July 31, WeRide's global L4 fleet numbered approximately 3,400 vehicles, with over 1,800 being robotaxis. During the same period, revenue from L2++/L3 business grew 219% quarter-over-quarter, and shipments of its self-developed L2++/L3 one-stage end-to-end solution, WRD 3.0, reached about 30,000 units, with mass production orders secured for more than 30 vehicle models.
WeRide's gross profit for the first half of 2026 was 127 million yuan (approximately $18.6 million), compared to 61.1 million yuan in the same period last year. The gross margin improved to 36.6%, up from 30.6% a year earlier. Total expenses for the first half were 1 billion yuan (about $148 million), a 5.2% increase from 951 million yuan in the prior year. This included R&D expenses of 800 million yuan (about $118 million), up from 645 million yuan; administrative expenses of 152 million yuan; and selling expenses of 51.9 million yuan.
The operating loss for the first half of 2026 narrowed to 853 million yuan, compared to an operating loss of 890 million yuan in the same period last year. The net loss for the period was 790 million yuan (about $116 million), slightly down from 792 million yuan in the prior year. The adjusted net loss was 665 million yuan (about $98 million), compared to an adjusted net loss of 595 million yuan in the same period last year. EBITDA for the first half was negative 667 million yuan (about $98.3 million), improving from negative 713 million yuan a year earlier, a narrowing of 6.5%.
WeRide's second-quarter revenue reached 232 million yuan (about $34.2 million), an 82.2% increase from 127 million yuan in the same quarter last year. This growth was primarily driven by the expansion of its L4-level businesses, including robotaxis and robobuses, as well as the rapid growth of its L2++/L3 business.
In the second quarter of 2026, L4 business revenue was 125 million yuan ($18.5 million), a 47.3% year-over-year increase and a 130.6% sequential increase. The average daily number of orders per robotaxi vehicle exceeded 21, a sequential increase of about 24%, with the peak daily completed orders per vehicle reaching 28. Registered users of WeRide's robotaxi service grew 35% sequentially, and single-quarter ride-hailing revenue increased by approximately 140% quarter-over-quarter.
Cost of revenue for the second quarter was 145 million yuan ($21.3 million), up from 91.5 million yuan in the second quarter of 2025, primarily due to revenue growth in L4 and AI infrastructure businesses. Gross profit was 86.9 million yuan ($12.8 million), compared to 35.7 million yuan in the second quarter of 2025. The gross margin expanded from 28.1% to 37.5%, driven by increasing revenue from the higher-margin L2++/L3 business and overseas L4 operations. Operating expenses for the quarter were 530 million yuan ($78.5 million), up from 488 million yuan in the same period last year. This included R&D expenses of 434 million yuan ($64 million), an increase from 319 million yuan, attributed to higher personnel and outsourcing costs, depreciation and amortization, and cloud service fees. Administrative expenses fell to 69 million yuan ($10.2 million) from 155 million yuan, due to lower share-based compensation and professional service fees. Selling expenses rose to 29.2 million yuan from 13.8 million yuan, driven by higher personnel costs and increased marketing and advertising spending.
The net loss for the second quarter of 2026 was 400 million yuan ($59.1 million), nearly unchanged from 406 million yuan in the second quarter of 2025. The non-IFRS adjusted net loss for the quarter was 339 million yuan ($49.9 million), compared to an adjusted net loss of 300 million yuan in the same period last year. EBITDA for the second quarter was negative 335 million yuan ($49.4 million), improving from negative 365 million yuan in the second quarter of 2025, a narrowing of 8.1%.
As of June 30, 2026, WeRide held a total of 5.4 billion yuan ($796 million), including 5.375 billion yuan ($792 million) in cash and cash equivalents and time deposits, 2.3 million yuan in wealth management products classified as financial assets at fair value through profit or loss, and 21.4 million yuan in restricted cash. At the close of trading today, WeRide's Hong Kong-listed shares were priced at $5.72, down 9.64% from the previous day, giving the company a market capitalization of $1.88 billion.
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