ECARX(US:ECX)2025-09-26 10:04Financial Performance - Total revenue for Q2 2025 was US$155.6 million, down 10% year-over-year[8] - Gross profit decreased to US$16.8 million, resulting in a gross margin of 11%, down from 23% in the same period last year[10] - Net loss for the quarter was US$45.4 million, compared to US$42.1 million in the same period last year[10] - Adjusted EBITDA (non-GAAP) loss was US$29.7 million, compared to a loss of US$28.7 million in the same period last year[10] - Total revenue for the six months ended June 30, 2025, was US$323.3 million, a 6.0% increase from US$303.5 million in the same period of 2024[29] - Gross profit for the six months ended June 30, 2025, was US$50.0 million, down from US$68.5 million in the same period of 2024, reflecting a gross margin decrease[29] - Net loss for the six months ended June 30, 2025, was US$72.6 million, compared to a net loss of US$84.6 million for the same period in 2024, indicating a reduction in losses[29] - Adjusted EBITDA for the six months ended June 30, 2025, was a loss of US$44.3 million, an improvement from a loss of US$60.1 million in the same period of 2024[33] Research and Development - Research and development expenses were US$33.8 million, down 19% year-over-year, enhancing operational efficiencies[10] - Research and development expenses decreased to US$68.3 million for the six months ended June 30, 2025, from US$79.3 million in the prior year[29] - New global headquarters in Singapore will become operational in the second half of 2025, enhancing R&D collaboration[5] Product and Market Performance - Shipments of Antora® series solutions increased by 112% year-over-year to 135,000 units[4] - Software license revenue increased significantly by 47.5% to US$26.8 million for the six months ended June 30, 2025, compared to US$18.2 million in the prior year[29] - Over 9.3 million vehicles on the road with ECARX products as of June 30, 2025[10] - Collaborating with a top-five automaker in China for next-generation models, with shipments expected to begin in 2026[10] Assets and Liabilities - Total current assets as of June 30, 2025, were US$386.0 million, slightly down from US$386.1 million as of December 31, 2024[25] - Total liabilities increased to US$790.4 million as of June 30, 2025, from US$752.1 million as of December 31, 2024, marking a 5.1% rise[27] - The accumulated deficit grew to US$1,193.5 million as of June 30, 2025, from US$1,124.5 million as of December 31, 2024[27] - Cash and cash equivalents increased to US$86.2 million as of June 30, 2025, from US$44.3 million as of December 31, 2024, reflecting improved liquidity[25] Operational Efficiency - ECARX's Fuyang facility operates at 80% utilization, achieving an annual capacity of 1 million units ahead of schedule[18]