WRD · WeRide Inc.

WeRide Inc. delivered strong Q1 2026 results with total revenue surging 57.6% year over year to RMB114.1 million, driven by 115.8% growth in product revenue from robotaxi and L4 vehicle sales, and 49.0% increase in service revenue from intelligent data and ADAS services. Gross profit rose 55.9% to RMB39.6 million, with margin at 34.7%, slightly below prior year's 35.0% but supported by efficient scaling in higher-value mobility markets. Operating expenses increased modestly to RMB469.1 million, led by 11.5% higher R&D at RMB363.3 million due to material consumption, depreciation, and project fees, while administrative expenses fell 33% excluding share-based compensation from lower professional services. Operating loss narrowed 1.2% to RMB431.0 million, and net loss improved slightly to RMB389.1 million, with non-IFRS adjusted net loss at RMB326.2 million. Balance sheet remains robust with RMB6.2 billion in liquidity. Business updates highlight robotaxi fleet growth to 1,300 globally (1,000 in China), average daily orders per vehicle over 17 (peaking at 28), and user base doubling YoY. Key milestones include Singapore public launch with Grab, Dubai driverless service with Uber and RTA, and European entry into Slovakia. WRD 3.0's four-time championship and OEM wins with GAC Aion and Chery underscore tech leadership. CEO Tony Han emphasized GENESIS platform's role in scaling across L2++ to L4, while CFO Jennifer Li noted industry-leading margins and narrowing losses amid global expansion into diverse markets.