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• Total Revenue: Increased 1.8% to RMB72.4 million.

• Robotaxi Revenue: RMB16.1 million, contributing 22.3% to group revenue.

• Product Revenue: Increased by 46.7% to RMB9.5 million.

• Service Revenue: RMB62.9 million, with a decline due to completed ADAS R&D projects.

• Gross Margin: Group level at 35.0%; Product at 49.9%; Service at 32.8%.

• Operating Expenses: Increased by 14.2% to RMB463.5 million.

• R&D Expenses: Increased by 17.3% to RMB325.7 million, representing 70.3% of operating expenses.

• Net Loss: Decreased by 17.7% to RMB385.1 million.

• Non-IFRS Net Loss: Increased by 108.2% to RMB294.6 million.

• Capital Reserve: RMB6.2 billion, including RMB4.4 billion in cash equivalents and time deposits.

• Share Repurchase Program: Authorized up to $100 million of class A ordinary shares over the next 12 months.

• Warning! GuruFocus has detected 5 Warning Signs with WRD.

Release Date: May 21, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• WeRide Inc (NASDAQ:WRD) expanded its partnership with Uber, securing an additional $100 million in equity investment and committing to providing global taxi services in 15 additional cities.

• The company launched the first driverless robotaxi testing in Abu Dhabi, marking a significant milestone in the Middle East.

• WeRide Inc (NASDAQ:WRD) expanded its autonomous mobility operations in China, launching the country's first 24/7 autonomous ride-hailing network in Guangzhou.

• The company achieved a record high in Robotaxi revenue, contributing 22.3% to the group's total revenue, up from 11.9% the previous year.

• WeRide Inc (NASDAQ:WRD) maintains a strong safety record with no accidents attributed to its autonomous driving systems over 2000 days of operation.

Negative Points

• Total revenue for the first quarter of 2025 increased by only 1.8%, indicating slower overall growth.

• Service revenue experienced a decline due to the completion of a customized R&D project, impacting overall revenue.

• Operating expenses rose by 14.2%, driven by a significant increase in personnel-related expenses.

• The net loss increased by 108.2% on a non-IFRS basis, primarily due to continuous investment in R&D.

• The company faces growing competition in the autonomous driving industry, particularly from aggressive OEMs entering the Robotaxi business.

Q & A Highlights

Q: Why did WeRide and Uber decide to expand their partnership, and what are the details of this collaboration? A: Tony Han, CEO of WeRide, explained that the expanded partnership with Uber builds on a successful model demonstrated in Abu Dhabi. WeRide provides autonomous driving technology, while Uber manages fleet operations. They plan to deploy services in 15 major global cities over the next five years, with Uber investing an additional $100 million in WeRide. This collaboration aims to make autonomous mobility affordable and accessible worldwide.