CROSBY Research – RoboSense Technology (2498 HK/NR): Setting sights on profitability milestone in 4Q25

27 November 2025

RoboSense’s LiDAR product sales reached 185.6k units in 3Q25, marking a 34.0% YoY/ 17.3% QoQ growth. This also represents two consecutive quarters of sequential growth. In ADAS sector, sales reached 150.1k units, presenting a YoY increase of 14.3% and QoQ of 21.2%. Meanwhile, robotics and other applications continued their strong momentum, with 35.5k units sold, translating to a remarkable 393.1% YoY surge and a 3.2% QoQ increase. RoboSense’s GPM further expanded 6.4ppt to 23.9% in 3Q25.