What’s Going On With WeRide Stock On Wednesday?
From Yahoo Finance: 2025-05-21 09:23:00
WeRide Inc. (NASDAQ:WRD) shares are up in premarket trading after reporting $10 million in revenue for Q1 2025, a 1.8% increase YoY. CFO Jennifer Li credits growth to international expansions in the Middle East and Europe.
Product revenue rose to $1.3 million, driven by increased sales of robotaxis and robosweepers. Robotaxi business revenue reached $2.2 million, representing 22.3% of total revenue, up from 11.9% last year.
WeRide’s gross profit margin remained stable at 35% in Q1. Founder and CEO Tony Han expresses excitement about the company’s autonomous driving vehicles and commercial operations, making autonomous driving more accessible globally.
WeRide reports a diluted net loss per ADS of 18 cents and holds $610.3 million in cash and equivalents as of March 31. The company has also authorized a share repurchase program of up to $100 million of its Class A ordinary shares over the next 12 months.
WeRide plans to fund the share repurchase program from its existing cash balance. The company increased its fleet size to over 1,200 units in Q1 2025, accruing over 2,000 days of public operations with no regulatory discipline for autonomous driving system failure.
WeRide partners with Uber Technologies to expand commercial robotaxi services to 15 new cities, building on their success in Abu Dhabi and upcoming launch in Dubai. Uber commits an additional $100 million equity investment in WeRide to support the collaboration.