ECARX Announces Second Quarter 2025 Unaudited Financial Results

Core Insights - ECARX Holdings Inc. reported a total revenue of US$155.6 million for Q2 2025, reflecting a 10% decrease year-over-year, attributed to seasonal headwinds and contract timing [2][7] - The company aims to achieve EBITDA breakeven in each of the remaining quarters of 2025, targeting close to 20% revenue growth for the year [2][3] - Shipments of the Antora series solutions increased by 112% year-over-year, reaching 135,000 units, driven by demand from the Geely portfolio [3][11] Financial Performance - Total revenue for Q2 2025 was US$155.6 million, down 10% YoY, with sales of goods revenue at US$131.2 million, up 1% YoY [7][28] - Software license revenue fell 85% YoY to US$1.2 million, primarily due to declines in intellectual property and per-vehicle software license revenues [7][28] - Service revenue decreased by 34% YoY to US$23.2 million, mainly due to reduced design and development service contracts [8][28] - Gross profit was US$16.8 million, down 58% YoY, resulting in a gross margin of 11%, down from 23% in the same period last year [11][28] - Net loss for Q2 2025 was US$45.4 million, compared to a net loss of US$42.1 million in Q2 2024 [11][28] Business Development Highlights - The company is expanding its global footprint, collaborating with a top-five automaker in China and developing a next-generation intelligent cockpit operating system for a premium global brand [3][11] - ECARX has secured contract wins with a total lifetime revenue of over US$1 billion, indicating strong demand for its technology [3][11] - The company received the Technical Development & Innovation award from Volkswagen Brazil, highlighting its innovation and global impact [4][18] - A new global headquarters in Singapore is set to open in the second half of 2025, aimed at enhancing R&D collaboration and supply chain optimization [4][11] Technological Advancements - The company is focusing on safety, security, and performance benchmarks for products that can be deployed across various applications [4][11] - ECARX's lidar technology has been selected by a leading developer of robotic lawn mowers, marking the start of monetization beyond the automotive sector [3][11] - The company is supporting the launch of new vehicle programs that integrate advanced computing platforms and software stacks, setting new standards for AI-powered intelligent cockpits [11][18]