This presentation contains statements that are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, amongst other things, results of operations, financial condition, liquidity, prospects, growth, strategies and the industry ...

ECARX Holdings Inc. (NASDAQ:ECX) Q4 2024 Earnings Call March 11, 2025 8:00 AM ET Company Participants Rene Du - Head, Investor Relations Ziyu Shen - Chairman and Chief Executive Officer Peter Cirino - Chief Operating Officer Phil Zhou - Chief Financial Officer Conference Call Participants Daniel Wang - CICC Tony Shen - SPDBI Jenny Wang - UBS Wei Huang - Deutsche Bank Operator Good day and thank you for joining us. Welcome to ECARX’s Fourth Quarter and Full Year 2024 Earnings Conference Call. [Operator Instr ...

Core Viewpoint - ECARX Holdings Inc. reported strong financial performance for 2024, with an 18% year-over-year revenue increase and a narrowing operating loss, achieving breakeven at the EBITDA level in Q4 2024, indicating positive momentum for future growth [2][3]. Financial Performance - **Fourth Quarter 2024 Results**: Total revenue was RMB 1,940.7 million (US$ 265.9 million), up 4% year-over-year. Sales of goods revenue increased by 16% to RMB 1,524.9 million (US$ 208.9 million), driven by a RMB 540 million rise in automotive computing platform product sales [3][21]. - **Full Year 2024 Results**: Total revenue reached RMB 5,561.3 million (US$ 761.9 million), an 18% increase from RMB 4,699.6 million in 2023. Sales of goods revenue rose 33% to RMB 4,405.5 million (US$ 603.6 million) [4][21]. - **Gross Profit and Margin**: Gross profit for Q4 2024 was RMB 410.9 million (US$ 56.4 million), with a gross margin of 21%. For the full year, gross profit was RMB 1,154.2 million (US$ 158.1 million), also with a gross margin of 21%, down from 27% in 2023 [3][21]. - **Net Loss**: The net loss for Q4 2024 was RMB 39.5 million (US$ 5.3 million), significantly reduced from RMB 326.7 million in the same period last year. The full-year net loss was RMB 989.9 million (US$ 135.6 million), a 3% decrease from RMB 1,015.6 million in 2023 [3][21]. Business Highlights - **Record Shipments**: Total shipments reached a record high of 2 million units in 2024, a 33% increase from the previous year, with over 700 thousand units shipped in Q4 alone [2][6]. - **Global Customer Base Expansion**: The company expanded its global customer base to 18 automakers across 28 brands, including a recent partnership with Volkswagen Group [2][6]. - **Technological Advancements**: ECARX integrated DeepSeek into its AutoGPT in-vehicle AI large language model, enhancing the in-vehicle experience for automaker partners [2][6]. - **Strategic Initiatives**: The company announced a US$ 20 million share repurchase program and is exploring capital-raising opportunities to support strategic objectives [2][6]. Research and Development - **R&D Expenses**: Research and development expenses for Q4 2024 were RMB 342.1 million (US$ 46.9 million), down 28% year-over-year, reflecting improved efficiencies [3][21]. - **Product Innovations**: New product launches included the Galaxy EX5, the first overseas model integrating the Antora 1000 computing platform, and the Skyland Pro ADAS solution integrated into Geely's G-Pilot system [6][11]. Market Position - **Industry Context**: ECARX is positioned as a global mobility tech provider, focusing on delivering innovative solutions for next-generation smart vehicles, capitalizing on the growing demand for software-defined vehicles [9][10].

Core Insights - ECARX Holdings Inc. announced the integration of its Skyland® Pro intelligent driving solution into Geely's G-Pilot system, which will be featured in all future vehicles under Geely's Galaxy brand, including the newly launched Galaxy E8 sedan [1] - Skyland® Pro addresses the demand for high-performance, cost-effective intelligent driving solutions, enabling faster market entry for automakers and offering features like automated parking assistance and highway autopilot [2] - The Skyland® Pro platform is positioned to meet the growing demand for advanced driver-assistance systems (ADAS) and vehicle intelligence, contributing to long-term growth and innovation in the automotive sector [3] Company Overview - ECARX is a global automotive technology provider that delivers comprehensive solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [4] - Founded in 2017 and listed on Nasdaq in 2022, ECARX employs over 1,800 people across 12 locations worldwide and collaborates with major automakers, including Geely, FAW, and Dongfeng Peugeot-Citroën [5] - ECARX products are currently integrated into over 7.3 million vehicles globally, showcasing the company's extensive reach in the automotive market [5]

Company Overview - ECARX Holdings Inc. is a global mobility tech provider specializing in intelligent driving solutions, with its Skyland® Pro solution being integrated into Geely's G-Pilot system for future Galaxy brand vehicles [1][2] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,800 employees across 12 locations worldwide, including China, the UK, the USA, Sweden, Germany, and Malaysia [5] Product and Technology - The Skyland® Pro solution addresses the industry's need for high-performance, cost-effective intelligent driving technologies, facilitating quicker market entry for automakers [2] - Features of Skyland® Pro include automated parking assistance and highway autopilot, enhancing the driving experience [2] - The solution has already been implemented in vehicles like Lynk & Co 08 EM-P and Lynk & Co 07 EM-P, with over 160,000 units sold collectively [2] Strategic Partnerships - The collaboration with Geely on the G-Pilot system highlights ECARX's commitment to scalable and cost-effective intelligent driving solutions [3] - ECARX also partners with other notable automakers, including FAW and Dongfeng Peugeot-Citroën, expanding its market reach [5] Market Position and Growth Potential - The automotive industry is increasingly competitive, with a focus on Advanced Driver Assistance Systems (ADAS) and vehicle intelligence, positioning Skyland® Pro to capitalize on this demand [3] - ECARX aims to enhance user experience while reducing complexity and costs as automakers develop new electric vehicle architectures [4]

Core Insights - ECARX Holdings Inc. has been awarded by the Volkswagen Group to provide advanced digital cockpit solutions for vehicles under the Volkswagen and Skoda brands [1][2] - The partnership marks a significant step for ECARX as it collaborates with a leading global automaker to enhance intelligent automotive technology [5] Company Overview - ECARX is a global mobility technology provider specializing in delivering turnkey solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [5] - Founded in 2017 and listed on Nasdaq in 2022, ECARX employs over 1,800 people across 12 major locations worldwide and has products in over 7.3 million vehicles [6] Product Details - The ECARX Antora 1000 computing platform is a fourth-generation digital cockpit solution based on a 7nm high-performance SE1000 System-on-Chip (SoC) [3] - ECARX Cloudpeak is a flexible software architecture that integrates services such as Google Maps, Google Assistant, and mobile integrations like Android Auto and Apple CarPlay [3][4] Market Strategy - Initial vehicle launches featuring the new digital cockpit solutions are planned in Brazil and India, with potential for further market expansion [2] - The collaboration with Volkswagen Group aims to deliver a high-quality user experience while reducing complexity and cost in the automotive sector [5]

Core Insights - ECARX Holdings Inc. announced upgrades to its AutoGPT in-vehicle AI application through the integration of GigaAI's DriveDreamer World Model, enhancing autonomous driving capabilities and intelligent cockpit experiences [1][4] Company Overview - ECARX is a global automotive technology provider, offering solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [4][5] - Founded in 2017 and listed on Nasdaq in 2022, ECARX employs over 1,800 people across 12 locations worldwide [5] Technological Advancements - The integration of DriveDreamer expands virtual simulation capabilities, generating diverse driving scenarios and reducing reliance on physical road testing, thus improving training efficiency [2] - DriveDreamer automates scenario-specific data generation, enhancing algorithm iteration speed and reducing development cycle time [2] Intelligent Cockpit Experience - The upgraded AutoGPT can analyze multiple sensory inputs to proactively adjust vehicle settings, providing a hyper-personalized intelligent cockpit experience for drivers [3] - This capability allows automakers to differentiate themselves in a competitive market by offering unique driving experiences [4]

Core Insights - ECARX Holdings Inc. announced that its automotive solutions helped Geely Automobile achieve record sales of 266,737 vehicles in January 2025, building on a strong 2024 where Geely sold 2.17 million vehicles [1][2] Company Overview - ECARX is a global automotive technology provider that offers full-stack solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [5] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,800 employees across 12 locations globally [6] Strategic Partnerships - The collaboration with Geely demonstrates how ECARX's solutions enhance vehicle intelligence and user experience, contributing to sales growth and competitive advantage for automakers [3][4] - ECARX's global ecosystem of strategic partnerships is central to its strategy to reshape the automotive technology value chain [3] Product Offerings - Key solutions include the Antora Series Computing Platform, Makalu Computing Platform, and Venado Computing Platform, which power various Geely models [8]

Core Points - ECARX Holdings Inc. will report its financial results for Q4 and full year 2024 on March 11, 2025, before U.S. market opens [1] - An earnings conference call will be held on the same day at 8:00 a.m. U.S. ET, with a live audio webcast available [2] - Audio replay and presentation materials will be accessible on the company's investor relations website after the event [3] Company Overview - ECARX is a global automotive technology provider specializing in turnkey solutions for next-generation smart vehicles, including system on a chip (SoC) and central computing platforms [4] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,800 employees across 12 major locations worldwide [5] - The company is co-founded by Ziyu Shen and Eric Li, with products present in over 7.3 million vehicles globally [5]

Core Insights - ECARX Holdings Inc. has launched its first intelligent cockpit in the Hongqi Tiangong 05 all-electric sedan, marking a significant milestone in its partnership with FAW Group [1][2] - The intelligent cockpit is powered by ECARX's Antora 1000 Pro computing platform and features a customized Hongqi FAW OS, integrating advanced AI capabilities [2][3] - The collaboration aims to create a scalable and cost-effective solution for future Hongqi models, enhancing the user experience while reducing complexity [2][4] Company Overview - ECARX is a global automotive technology provider specializing in full-stack solutions for next-generation smart vehicles, including system on a chip (SoC) and central computing platforms [4] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,800 employees across 12 locations worldwide [5] - The company has partnerships with various automakers, including FAW and Dongfeng Peugeot-Citroën, and its products are present in over 7.3 million vehicles globally [5]