ECARX Holdings Inc · Q1 2025 earnings

Briefing

Revenue up 30% as shipments hit 684K units; operating loss narrows 30% with 20% gross margin

ECARX reported Q1 2025 revenue of RMB1,222.4 million (US$168.5 million), up 30% year over year, driven by higher automotive computing platform volumes, a 148% jump in software license revenue, and 49% growth in services. Gross profit rose 19% to US$33.5 million with a 20% gross margin as R&D and SG&A expenses declined 7% and 11%, respectively. Net loss narrowed to US$27.0 million from US$304.0 million a year earlier, and adjusted EBITDA loss improved to US$14.4 million from US$223.9 million. Shipments reached 684,000 units, bringing vehicles on the road with ECARX technology to over 8.7 million, and the company secured eight new project wins under Geely's foundational E/E architecture.

• Total revenue grew 30% YoY to US$168.5 million; software license revenue surged 148% and service revenue rose 49%
• Net loss narrowed to US$27.0 million from US$304.0 million; adjusted EBITDA loss improved to US$14.4 million
• Shipments reached 684,000 units with over 8.7 million cumulative vehicles on the road using ECARX technology
• Secured eight new project wins under Geely's E/E architecture; gross margin held at 20% despite pricing strategy
• Total cash was RMB933.0 million (US$128.6 million) as of March 31, 2025

Headline financials

Revenue & EPS history