From GlobeNewswire: 2024-11-29 16:30:00

WeRide Inc., a leading Robotaxi company, announced its unaudited results for Q3 and the first 9 months of 2024. They introduced GXR, a new Robotaxi platform in October, featuring cutting-edge technology. WeRide also expanded globally with partnerships in the UAE, France, and Singapore, advancing their autonomous mobility solutions. In China, they achieved milestones in launching ADAS solutions and receiving approvals for fare-charging Robobus services. The company reported a decrease in total revenues to RMB70.0 million for Q3 2024, with product revenue increasing to RMB15.0 million and service revenue at RMB55.0 million. The cost of revenue increased to RMB65.5 million, resulting in a gross margin of 21.3%. Operating expenses rose to RMB895.7 million due to increased personnel-related expenses. WeRide reported a net loss of RMB1,042.7 million for Q3 2024. The company had RMB2,705.9 million in cash and cash equivalents as of September 30, 2024. WeRide expects total revenues between RMB350 million and RMB380 million for the full fiscal year of 2024. They use adjusted net loss as a measure to assess operating performance, with an adjusted net loss of RMB240.3 million for Q3 2024. The company’s financial statements show a deficit in equity and liabilities totaling RMB4,382.4 million.



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