ECARX Posts Q2 Revenue of $156M, Diversifies Customer Base, and Expands Beyond Automotive with Proprietary LiDAR Technology.

ECARX reported Q2 revenue of $156 million, a 20% YoY reduction in operating expenses, and secured over $1 billion in lifetime overseas contract value. The company's revenue mix shifted towards proprietary platforms, which contributed 56% to total sales of goods revenue. The Geely Auto business comprised 40%-50% of company revenue, and the business mix by geography has shifted to 60% China and 40% overseas. Non-automotive R&D commercialization expands the addressable market for ECARX.

EcarX (NASDAQ: ECX) reported its second-quarter (Q2) earnings on August 26, 2025, showcasing a mix of strategic shifts and operational improvements. The company reported Q2 revenue of $156 million, a 20% year-over-year (YoY) reduction in operating expenses, and secured over $1 billion in lifetime overseas contract value [1].

One of the notable shifts in EcarX's revenue composition was the increased contribution of proprietary platforms. In-house developed Antora, Venato, and Skyland platforms more than doubled their contribution to total sales of goods revenue, reaching 56% compared to 28% in the previous year [1]. However, software license revenue fell 85% YoY to $1.2 million, while the gross margin (GAAP) dropped 12 percentage points YoY to 11% amid price reductions intended to accelerate platform adoption [1].

The company's business mix by geography has shifted to 60% China and 40% overseas, including major wins with Volkswagen (VW) [1]. The Geely Auto business comprised 40%-50% of company revenue, with the Geely ecosystem at 30%-40%, and non-Geely business, which is about 15% [1]. This geographic and OEM diversification reduces reliance on a single customer and signifies traction in competing for marquee global auto programs.

EcarX also expanded its addressable market through non-automotive R&D commercialization. The company debuted monetization of its proprietary 3D LiDAR technology outside automotive with a leading global robotic lawnmower developer, opening mass-production scale in 2026 and validating multi-industry appeal [1]. This initial design win outside core auto markets demonstrates the company’s ability to leverage automotive R&D for additional revenue streams, increasing its long-term growth potential through cross-industry technology transfers.

Looking ahead, EcarX expects to ship 1.4 million to 1.5 million vehicles in the second half and to achieve adjusted EBITDA (non-GAAP) breakeven for every remaining quarter. Concrete milestones include initiating mass production of robotics LiDAR in 2026 and operationalizing the global headquarters in Singapore in the second half of the year [1].

References:
[1] https://www.nasdaq.com/articles/ecarx-reports-156-million-q2-revenue