ECARX Announces Third Quarter 2025 Unaudited Financial Results

Core Viewpoint - ECARX Holdings Inc. reported strong financial results for Q3 2025, achieving profitability for the first time with a net profit of $0.9 million and an Adjusted EBITDA of $8.3 million, indicating a solid foundation for future growth [2][3][10]. Financial Performance - Total revenue for Q3 2025 was $219.9 million, representing an 11% increase year-over-year and a 41% increase quarter-over-quarter [3][6]. - Sales of goods revenue was $181.7 million, up 11% year-over-year, driven by higher volumes of automotive computing platforms and SoC core modules [6][10]. - Service revenue increased by 68% year-over-year to $37.3 million, attributed to more design and development service contracts and growth in connectivity service revenue [6][10]. - Gross profit reached $47.6 million, a 39% increase year-over-year, resulting in a gross margin of 22%, up from 17% in the same period last year [10][25]. Operational Highlights - Total shipments reached approximately 667,000 units, a 51% increase year-over-year and a 26% increase quarter-over-quarter, with Antora series shipments hitting a record high of 196,000 units [3][10]. - The company secured a second project with a leading European automaker, expected to add $400 million in lifetime revenue to its pipeline [4][10]. - ECARX's technology is now present in approximately 10 million vehicles globally, showcasing its growing trust as a core technology partner for major automakers [3][10]. Strategic Initiatives - The company has entered into an agreement to issue up to $150 million in convertible notes to ATW Partners, reflecting confidence in its growth strategy [5][10]. - Recent technological advancements include the mass production of the Pikes® computing platform and the launch of several new vehicle models featuring ECARX technology [10][25]. Market Position - ECARX continues to expand its global partnerships with automakers, enhancing its value proposition as a technology provider and driving strong sales growth [4][10]. - The integration of the Google ecosystem into its offerings is seen as a crucial competitive advantage for the company [4][10].