Hesai Group Announces Certain Preliminary Q4 And FY23 Net Revenues To Exceed The Top Of The Guidance Range Of $76M And $250M; Sees FY23 Total Lidar Shipments To Exceed The Guidance Of 220K Units And ADAS Lidar Shipments To Exceed The Target Of 200K Units
Portfolio Pulse from Benzinga Newsdesk
Hesai Group (NASDAQ:HSAI) anticipates Q4 and FY23 net revenues to exceed the top of its guidance range of $76M and $250M, respectively. The company also expects total lidar shipments to surpass 220K units and ADAS lidar shipments to exceed 200K units for FY23. These preliminary results reflect a significant increase from the previous year and indicate strong momentum with new design wins, product introductions, and enhanced manufacturing capabilities. Hesai's CEO expressed confidence in the business's trajectory and the company's commitment to performance and reliability in the lidar industry.
January 11, 2024 | 1:32 pm
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POSITIVE IMPACT
Hesai Group expects to exceed its Q4 and FY23 revenue guidance, with net revenues surpassing $76M and $250M, respectively, and lidar shipments to exceed 220K units. The company's strong performance and positive outlook may boost investor confidence.
The positive preliminary financial results and operational achievements such as exceeding the guidance for net revenues and lidar shipments are likely to be viewed favorably by investors. This could lead to a short-term increase in HSAI's stock price as the market reacts to the company's strong performance and optimistic outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100