ECARX Holdings Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue rose 10% YoY to $241 million, but memory costs cut gross margin to 7% and adjusted EBITDA was a $37.7 million loss. FY 2026 revenue guidance was reaffirmed at $1.0 billion-$1.1 billion.
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The full-stack vehicle technology platform is expanding globally, with 12M+ vehicles deployed and rising content opportunities as computing consolidates. 2026 revenue guidance remains $1B–$1.1B; Volkswagen program revenue is expected from late 2027.
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The session highlighted rapid global expansion, strong revenue growth, and a focus on full-stack automotive technology solutions. Key differentiators include deep expertise in silicon and software, cost-efficient vertical integration, and strategic partnerships. Upcoming launches and continued investment in AI and regional R&D centers support a positive outlook.
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Q2 saw 45% year-over-year revenue growth and a 71% sequential rebound, with gross margin rising to 19.8% and positive adjusted EBITDA for the fourth consecutive quarter. High-end product mix and global expansion drove results, while the Flyme acquisition and new partnerships strengthen the technology stack.
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Disciplined execution drove improved profitability, with gross margin up to 21.4% and adjusted EBITDA positive for the third straight quarter. Global expansion, high-value partnerships, and a shift to higher-margin products offset macro headwinds and support reiterated full-year revenue guidance.
Fiscal Year 2025
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Q4 2025 saw record revenue of $305M (up 13% YoY), net income of $2.8M, and strong global expansion, with major wins in Latin America and robust growth in advanced platforms. 2026 revenue is guided at $1.0–$1.1B, with gross margin expected at 15–18% amid industry cost pressures.
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Achieved first-ever net profitability and EBITDA break-even in Q3 2025, with revenue up 11% year-over-year and gross margin rising to 22%. Shipments and global project wins surged, while hardware margins and operational efficiency improved, supporting a strong outlook for continued growth and profitability.
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Q2 2025 saw strong operational momentum with 532,000 units shipped and $156M in revenue, despite seasonal and pricing headwinds. Global expansion, new project wins, and cost controls support a positive outlook, with full-year revenue expected to grow nearly 20%.
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Revenue grew 30% year-over-year to $168.5M, with shipments up 35.8% and gross margin steady at 19.8%. Major project wins, global expansion, and innovation drove improved profitability, while a $45M capital raise supports further growth.
Fiscal Year 2024
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Achieved record shipments and 18% revenue growth in 2024, reaching EBITDA break-even in Q4. Expanded global customer base, secured a major Volkswagen project, and announced a $20M share repurchase, with a focus on profitability and global expansion in 2025.
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Q3 2024 saw 31% year-over-year revenue growth to RMB 1.4 billion, driven by strong hardware sales and new vehicle launches, despite gross margin pressure from fierce competition. The company is expanding its global footprint, increasing in-house manufacturing, and targeting break-even soon.
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Q2 2024 saw 31% revenue growth, strong global expansion, and five new design wins, with hardware and service revenues leading gains. Gross margin held at 23% amid pricing pressure, and the company targets 40% international revenue by 2026–2027.