WeRide Reports Record Full Year 2025 Revenue of RMB684.6 Million, Up 90% Year over Year
NEW YORK, March 23, 2026 (GLOBE NEWSWIRE) -- WeRide Inc. (“WeRide” or the “Company”) (Nasdaq: WRD; HKEX: 0800), a global leader in autonomous driving technology, today announced its unaudited financial results for the fourth quarter and full year 2025 ended December 31, 2025.
Fourth Quarter 2025 Financial Highlights
Full Year 2025 Financial Highlights
Robotaxi Business Update
Robotaxi remained a key driver of our operational growth during the reporting period, powered by continued commercialization in China and ongoing international deployment. During the period, we have advanced toward a more data-driven autonomy stack by incorporating end-to-end learning, leveraging large-scale data training and world model simulation, as well as improving algorithm generalization. As of the date of this announcement, our global robotaxi fleet size has reached the new height of 1,125 vehicles.
China Operations
International Operations
Other Autonomous Applications
Technology Development
Share Repurchase Program
On March 23, 2026, our board of directors authorized a share repurchase program, effective as of March 23, 2026, under which we may repurchase up to US$100 million of our Class A ordinary shares (including in the form of American depositary shares) over the next 12 months, subject to the scope and limit of the repurchase mandate granted by shareholders of the Company on March 13, 2026 and the approval of a similar repurchase mandate to be put forward to shareholders at the upcoming 2026 annual general meeting of the Company.
Our proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. Our board of directors will review the implementation of the share repurchase program periodically and may modify, suspend or terminate the share repurchase program as it shall deem necessary or desirable. We expect to fund the repurchases out of our existing cash balance. As of the date of this press release, no share repurchase plan has been entered into and shareholders and prospective investors of the Company should note that there is no assurance of the timing, quantity or price of any share repurchase or whether the Company will make any repurchase at all. Shareholders and prospective investors of the Company should exercise caution when dealing in the securities of the Company.
Management Commentary
Tony Han, WeRide’s Founder, Chairman, and Chief Executive Officer, stated, “Our robotaxi business achieved significant milestones during the reporting period, reflecting the growing adoption of autonomous mobility. In China, our registered users have grown quarter over quarter significantly throughout 2025, demonstrating increasing public acceptance of our services. Internationally, we are rolling out a citywide fully driverless robotaxi service in Abu Dhabi, marking a major step toward integrating autonomous transportation into everyday urban mobility. With a pipeline of AV deployments across 12 countries, we are building a leading global platform for autonomous mobility.”
Jennifer Li, WeRide’s Chief Financial Officer and Head of International, added, “In 2025, we delivered record revenue of US$97.9 million, up 90% year over year, reflecting strong commercial momentum as AV fleets expanded in both domestic and international markets. Gross margin remained healthy at 30.2%, benefiting from our focus on higher-value mobility markets and a disciplined deployment strategy that improves operational efficiency. Operating loss narrowed by 15.5% year over year, reflecting continued efficiency gains from our shared autonomous driving platform.”
Fourth Quarter 2025 Financial Results
Revenue
Total revenue grew 123.0% year over year to RMB314.0 million (US$44.9 million) in the fourth quarter of 2025, compared with RMB140.8 million in the same period of 2024.
Cost of Revenue
Cost of revenue was RMB224.5 million (US$32.1 million) in the fourth quarter of 2025, compared with RMB89.5 million in the same period of 2024. The increase in cost of revenue was mainly due to (i) an increase in cost of goods sold, aligned with the increase in product sales; and (ii) an increase in costs of services, affected by an increase in costs of intelligent data services.
Gross Profit and Gross Margin
Gross profit was RMB89.5 million (US$12.8 million) in the fourth quarter of 2025, compared with RMB51.4 million in the same period of 2024. Gross margin was 28.5% in the fourth quarter of 2025, compared with 36.5% in the same period of 2024. The decline in overall gross margin in the fourth quarter of 2025 was primarily due to a lower contribution from higher-margin ADAS R&D services compared with the same period of 2024.
Operating Expenses
Operating expenses were RMB654.8 million (US$93.6 million) in the fourth quarter of 2025, compared with RMB639.8 million in the same period of 2024.
Net Loss
Basic and Diluted Net Loss Per ADS 2
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1 Adjusted net loss is defined as net loss for the period excluding share-based compensation expenses, fair value changes of financial assets at FVTPL and changes in the carrying amounts of preferred shares and other financial instruments subject to redemption and other preferential rights.
2 ADS-to-Class A ordinary share ratio is 1:3.
Full Year 2025 Financial Results
Revenue
Total revenue grew 89.6% year over year to RMB684.6 million (US$97.9 million) in 2025, compared with RMB361.1 million in 2024.
Cost of Revenue
Cost of revenue was RMB477.8 million (US$68.3 million) in 2025, compared with RMB250.4 million in 2024. The increase in cost of revenue was mainly due to (i) an increase in cost of goods sold, aligned with the increase in product sales; and (ii) an increase in costs of services, affected by an increase in costs of intelligent data services, partially offset by a decrease in costs of ADAS R&D services.
Gross Profit and Gross Margin
Gross profit was RMB206.8 million (US$29.6 million) in 2025, compared with RMB110.7 million in 2024. Gross margin was 30.2% in 2025, compared with 30.7% in 2024, remaining relatively stable.
Operating Expenses
Operating expenses were RMB2,041.9 million (US$292.0 million) in 2025, compared with RMB2,283.7 million in 2024.
Net Loss
Basic and Diluted Net Loss per ADS
Balance Sheet
Exchange Rate Information
This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ were made at a rate of RMB6.9931 to US$1.00, the exchange rate in effect as of December 31, 2025, as set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System. The Company makes no representation that any RMB or US$ amounts could have been, or could be, converted into US$ or RMB, as the case may be, at any particular rate, or at all.
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3 Adjusted net loss is defined as net loss for the period excluding share-based compensation expenses, fair value changes of financial assets at FVTPL and changes in the carrying amounts of preferred shares and other financial instruments subject to redemption and other preferential rights.
Use of Non-IFRS Financial Measures
In evaluating its business, the Company considers and uses the non-IFRS financial measure of adjusted net loss as a supplemental measure to review and assess operating performance. The Company believes that adjusted net loss provides useful information to investors and others in understanding and evaluating the Company’s consolidated results of operations in the same manner as it helps the Company’s management. The Company defines adjusted net loss as net loss for the period excluding share-based compensation expenses, fair value changes of financial assets at FVTPL and changes in the carrying amounts of preferred shares and other financial instruments subject to redemption and other preferential rights.
The Company presents the non-IFRS financial measure because it is used by its management to evaluate its operating performance and formulate business plans. Adjusted net loss enables the Company’s management to assess the Company’s operating results without considering the impact of the aforementioned non-cash adjustment items that it does not consider to be indicative of its core operations. Accordingly, the Company believes that the use of this non-IFRS financial measure provides useful information to investors and others in understanding and evaluating its operating results in the same manner as its management and board of directors.
This non-IFRS financial measure is not defined under IFRS Accounting Standard and is not presented in accordance with IFRS. The non-IFRS financial measure has limitations as an analytical tool. One of the key limitations of using the adjusted net loss is that it does not reflect all items of expenses that affect the Company’s operations. Further, this non-IFRS measure may differ from the non-IFRS information used by other companies, including peer companies, and therefore its comparability may be limited.
The non-IFRS financial measure should not be considered in isolation or construed as an alternative to loss for the period or any other measure of performance information prepared and presented in accordance with IFRS Accounting Standard or as an indicator of the Company’s operating performance. Investors are encouraged to review the Company’s historical non-IFRS financial measure in light of the most directly comparable IFRS measure, as shown below. The non-IFRS financial measure presented here may not be comparable to similarly titled measure presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing the Company’s data comparatively. It is encouraged that you review the Company’s financial information in its entirety and not rely on a single financial measure.
Conference Call
The Company’s management will hold an earnings conference call at 8:00 A.M. U.S. Eastern Time on Monday, March 23, 2026 or 8:00 P.M. Hong Kong Time to discuss its financial results and operating performance for the fourth quarter and full year 2025.
Event Title: WeRide Inc. Fourth Quarter and Full Year 2025 Earnings Call
English Registration Link: https://register-conf.media-server.com/register/BI98ad9a5da2d8418781930021448b277b
Chinese Simultaneous Interpretation Registration Link (listen-only mode):
https://register-conf.media-server.com/register/BI5cdaf73794244bef8f4e6c8a09f2a403
All participants are required to complete the online registration in advance using the links provided above. During the registration, participants may select either the English or Chinese simultaneous interpretation options. Please note that the Chinese simultaneous interpretation line will be available in listen-only mode. Upon successful registration, each participant will receive a confirmation email containing the relevant dial-in details and a unique access PIN, which can be used to join the conference call.
Additionally, a live and archived webcast of the conference call will be available at the Company’s investor relations website at ir.weride.ai.
About WeRide
WeRide is a global leader and a first mover in the autonomous driving industry, as well as the first publicly traded robotaxi company. Our autonomous vehicles have been tested or operated in over 40 cities across 12 countries. We are also the first and only technology company whose products have received autonomous driving permits in eight markets: China, Switzerland, the UAE, Singapore, France, Saudi Arabia, Belgium, and the U.S. Empowered by the smart, versatile, cost-effective, and highly adaptable WeRide One platform, WeRide provides autonomous driving products and services from L2 to L4, addressing transportation needs in the mobility, logistics, and sanitation industries. WeRide was named to Fortune’s 2025 Change the World and 2025 Future 50 lists.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about WeRide’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in WeRide’s filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and WeRide does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contacts
Investor inquiries: ir@weride.ai
Press inquiries: pr@weride.ai
Piacente Financial Communications
E-mail: weride@thepiacentegroup.com
Note:
(a) Includes share-based compensation expenses as follows:
The table below sets forth a reconciliation of net loss to non-IFRS net loss for the periods indicated: