By Nicholas G. Miller
Shares of Hesai moved higher after the company swung to a second-quarter profit and said it has secured a design win from Toyota.
The stock was up 12% at $26.01 and is up 88% so far this year.
The lidar sensor company reported net income of $6.2 million, or 4 cents a share, up from a loss of $10.1 million, or 8 cents a share, the year prior. Adjusted earnings were 7 cents a share.
Hesai reported $98.6 million in revenue, up from $64.2 million the previous year.
The company said late Thursday that it has secured a design win from Toyota to provide long-range automotive lidar, entering mass production in 2026.
Write to Nicholas G. Miller at nicholas.miller@wsj.com.
(END) Dow Jones Newswires
August 15, 2025 11:35 ET (15:35 GMT)
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