WeRide reported second quarter 2026 total revenue of RMB231.7 million (US$34.2 million), up 82.2% year over year and 103.1% from the prior quarter, with gross margin widening to 37.5% from 28.1% a year earlier. Overseas revenue climbed 164.4% year over year and 169.3% sequentially. WeRide attributed the increase primarily to expansion of its L4 business, led by robotaxi and robobus, alongside rapid growth in its L2++ / L3 advanced driver-assistance business. The company reported a loss of RMB400.7 million (US$59.1 million) for the quarter, narrowed slightly from RMB406.4 million a year earlier.
Highlights
- Second quarter revenue of RMB231.7 million (US$34.2 million), up 82.2% year over year; first half revenue of RMB345.9 million (US$51.0 million), up 73.3%
- Global L4 fleet of approximately 3,400 vehicles as of July 31, 2026, including more than 1,800 robotaxis
- Domestic average daily rides per vehicle up 24% quarter over quarter to more than 21, with a peak of 28 completed rides per vehicle
- Cash, time deposits and restricted cash of RMB5,398.5 million (US$795.6 million) as of June 30, 2026
Where the Revenue Growth Came From
Revenue from L4 businesses — autonomous vehicle sales and related operational and technical support services — reached RMB125.2 million (US$18.5 million) in the quarter, up 47.3% year over year and 130.6% sequentially. The L2++ / L3 line, which covers ADAS research and development services, grew 219.3% quarter over quarter off a small base a year earlier.
Gross profit was RMB86.9 million (US$12.8 million), against RMB35.7 million in the same quarter of 2025. The company said margin expansion came from a larger revenue contribution by the higher-margin L2++ / L3 and overseas L4 businesses.
European Deployments Widen the Overseas Base
WeRide and Uber plan to launch Spain’s first commercial robotaxi pilot in the Region of Madrid, working with the Comunidad de Madrid regional government. The company said it is the fourth joint deployment with Uber globally and the first in Europe, with service expected to begin later this year.
A Zurich deployment with Uber would be the fifth joint project and the second in Europe. WeRide already operates robotaxi service in Zurich with Swiss Federal Railways, Swiss Transit Lab and on-demand mobility provider ioki, and in November 2025 secured a driverless robotaxi operating permit from Switzerland’s Federal Roads Office for public roads in the city. A strategic partnership with GreenMobility marks a sixth European market and a first entry into the Nordic region, with public service targeted for the first half of 2027.
In the Middle East, the approved service area covers more than 70% of the core urban area, and the regional robotaxi fleet reached approximately 400 vehicles as of July 31, 2026.
Domestic Operations and Robobus
In Guangzhou, the fully driverless service area has tripled compared with the end of 2025 and now covers the Huangpu, Tianhe and Haizhu districts with 24/7 commercial operations. Registered users of the robotaxi service grew 35% quarter over quarter, and domestic quarterly ride-hailing revenue rose approximately 140%.
Robobuses in Zurich now operate without a front-seat safety operator, which the company says is the first such deployment in Europe. Robobuses in Leuven, Belgium are planned to run commercially without a front-seat operator in the third quarter of 2026.
Second Quarter Financial Detail
| Metric | 2Q2026 (RMB) | 2Q2026 (US$) | 2Q2025 (RMB) |
|---|---|---|---|
| Total revenue | 231.7M | 34.2M | 127.2M |
| Gross profit | 86.9M | 12.8M | 35.7M |
| R&D expenses | 434.3M | 64.0M | 318.9M |
| Administrative expenses | 69.0M | 10.2M | 155.1M |
| Loss for the period | 400.7M | 59.1M | 406.4M |
| EBITDA | (335.4M) | (49.4M) | (364.8M) |
Administrative expenses fell on lower share-based compensation and reduced professional services fees. Non-IFRS adjusted loss was RMB338.5 million (US$49.9 million), compared with RMB300.6 million a year earlier. Basic and diluted loss per ADS was RMB1.23 (US$0.18), against RMB1.35.
ADAS Deliveries and Design Wins
Deliveries of WRD 3.0, the company’s one-stage end-to-end L2++ / L3 solution, totaled approximately 30,000 units in the quarter. WeRide said it has secured L2++ production design wins for more than 30 vehicle models and an L3 proof-of-concept project with Mercedes-Benz, and that WRD 3.0 has begun on-road testing and localization validation in France, Germany, Japan and other overseas markets.
Management Commentary
Tony Han, WeRide’s Founder, Chairman, and Chief Executive Officer, stated, “In 2Q2026, WeRide made significant strides across overseas acceleration, asset-light scaling, and self-sustaining cash generation. Total revenue nearly doubled YoY while gross margin climbed to 37.5%, with operating efficiency continuing to improve.”
Jennifer Li, WeRide’s Chief Financial Officer and Head of International, stated, “While global commercialization of autonomous driving remains at an early stage, the addressable market is substantial, and growth visibility is high. This model delivers compelling marginal economics and is expected to generate sustained cash flow contributions, having already become a key profit center and cash flow business for the Company.”
