WeRide (NASDAQ:WRD) reported record revenue for full-year 2025 and highlighted accelerating commercialization of its autonomous driving products, led by Robotaxi deployments and growing demand for Robobus and other offerings. On its Q4 and full-year 2025 earnings call, management also outlined continued fleet expansion plans in China and overseas, ongoing cost reductions, and a new share repurchase authorization.
2025 results: record revenue growth and improving margins
Founder, Chairman and CEO Dr. Tony Han said WeRide delivered “a record high revenue of RMB 685 million,” up 90% year-over-year, driven by expanding Robotaxi deployments and demand for Robobus and other products. CFO and Head of International Jennifer Li said Q4 2025 revenue rose 123% year-over-year to RMB 314 million.
WeRide also reported higher gross profit. Li said group gross profit in Q4 increased 74% to RMB 89 million, with a gross margin of 28%. For the full year, gross profit was RMB 207 million, up 87%, with a 30% gross margin.
Robotaxi scaling in China: utilization and unit economics focus
Management emphasized operational progress in China, including cost reductions and improving fleet productivity. Han said WeRide’s China total cost of ownership decreased by approximately 38%, attributing the change to lower vehicle bill-of-materials (BOM) costs and operating efficiency improvements.
Han said the BOM cost of the latest Robotaxi model, GXR, was reduced by 15% enabled by adoption of the company’s “cost-effective computing platform, HPC 3.0.” He also said WeRide improved its remote assistance human-to-vehicle ratio from 1:10 in 2024 to 1:40, which he described as making labor costs “marginal” and strengthening unit economics.
On service performance, Han said WeRide’s commercial and testing fleet in China grew to more than 800 Robotaxis, covering over 1,000 square kilometers across key urban areas. Average daily orders per vehicle reached 15 trips over the past six months, rising to 26 during peak periods, and average passenger waiting time declined to under 10 minutes.
During Q&A, Han added that WeRide’s average trip distance in China is about 5 km and pricing is roughly 2 RMB per km, which he said represents a 30%–50% discount to traditional ride hailing as part of a promotional strategy to drive adoption. He said WeRide expects pricing to move closer to “the standard rate around 3 RMB per km” as it expands citywide coverage and deepens integrations with Amap, WeChat, and Tencent Mobility. Han said the company is targeting 25 trips per vehicle per day over time and expects steady-state contribution margins in China to be over 40%.
WeRide also reported sharp user growth. Han cited Q4 registered user growth of more than 900% year-over-year and pointed to new product features such as flexible pick-up and drop-off within the service area.
International footprint: permits, partnerships, and fleet targets
WeRide said its international expansion remains a key driver, with operations in 12 countries and official permits granted in eight. Han said Europe is an emerging growth area and noted that in November 2025 the company received what it described as Europe’s first driverless Robotaxi permit for passenger service from Switzerland’s Federal Roads Office. He also cited entry into Slovakia and expansion across the Middle East and Asia Pacific.
In Abu Dhabi, Han said WeRide secured a city-level fully driverless Robotaxi commercial permit in October 2025, and its service now covers about 70% of the city’s core area. He said passengers can book through Uber categories including Uber Comfort, UberX, and a dedicated autonomous category. Han said WeRide launched commercial Robotaxi rides in Dubai and Riyadh during the quarter and began pilot operations in Ras al-Khaimah.
In Singapore, Han said WeRide and Grab began autonomous vehicle testing in the Punggol district in November 2025, and its GXR Robotaxi and Robobus are expected to open to the public by April 2026.
Li said overseas markets contributed approximately 29% of full-year 2025 revenue, spanning the Middle East, Europe, and Asia Pacific. In Q&A, management added that overseas revenue in Q4 was up 140% year-over-year and contributed 31% of total revenue, and that full-year overseas revenue grew about 305% year-over-year, accounting for roughly 29% of revenue. Management also said the company’s Middle East subsidiary is already profitable on a standalone basis.
Looking ahead, Han said WeRide expects its global Robotaxi fleet to reach 2,600 by the end of 2026, subject to regulatory approvals and market conditions. He also described a longer-term goal of deploying “tens of thousands of robotaxis worldwide by 2030.” As of the call, WeRide said its global Robotaxi fleet reached 1,125 vehicles, including more than 250 internationally.
Diversification and technology: Robobus growth, ADAS traction, and GENESIS
While Robotaxi remains central, management emphasized diversification. Han said WeRide’s global autonomous vehicle fleet across Robotaxis, Robobuses, Robovans, and Robosweepers grew from 1,089 vehicles at the end of 2024 to 2,113 “as of today.” He said Robobus grew 190% year-over-year in 2025 and is expanding across European markets including Switzerland, France, Belgium, Spain, and Slovakia.
Han also highlighted adoption of the company’s L2+ advanced driver assistance system, WePilot 3.0, by OEMs and suppliers including Chery, GAC, and Bosch. He referenced Chery EXEED using WePilot 3.0 winning first place in three city stops during the second China Urban Intelligent Driving Competition, and later added WeRide has won that competition three times in a row.
On R&D, Li said Q4 operating expenses increased 2% to RMB 655 million, with R&D representing 63% of total. For full-year 2025, operating expenses decreased 11% to RMB 2.04 billion, with R&D representing 67% of total. Li said R&D expenses rose 29% in Q4 and 26% for the year due to investments in talent and expansion of “next generation data center infrastructure.”
Han described “WeRide GENESIS,” a simulation platform integrating physical AI and generative AI, saying it can reduce simulation time for complex edge cases from days to minutes. In Q&A, he said GENESIS can reduce data collection cost by 75%.
Capital position and share repurchase authorization
Li said WeRide ended 2025 with total capital reserves of RMB 7.13 billion, including RMB 6.97 billion in cash and cash equivalents and time deposits, plus smaller balances in wealth management products and restricted cash. The company also had short-term bank loans of RMB 324 million.
Management said the board authorized a share repurchase program on March 23, 2026, allowing WeRide to repurchase up to $100 million of its Class A ordinary shares (including ADSs) over the next 12 months. Li said repurchases may occur on the open market or through privately negotiated transactions, depending on market conditions and regulatory requirements, and are subject to limits under shareholder mandates.
Li said Q4 net loss narrowed 6% year-over-year to RMB 5,565 million, and full-year net loss narrowed 34% to RMB 1.65 billion. She added that the company’s focus on operating efficiency and partnerships supports its expansion plans, while noting WeRide expects continued investment in talent and R&D.
About WeRide (NASDAQ:WRD)
WeRide Inc (NASDAQ: WRD) is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company’s full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.
Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.
