What does ECARX Holdings do and what are its main business segments?

What were the key takeaways from ECARX Holdings’s earnings call?

What guidance did ECARX Holdings's management provide for the next earnings period?

What is ECARX Holdings's gross profit margin?

What is ECARX Holdings's latest dividend and current dividend yield?

What is the market's earnings forecast for ECARX Holdings next quarter?

What factors drove the changes in ECARX Holdings's revenue and profit?

Did ECARX Holdings beat or miss consensus estimates last quarter?

- **First-Time Profitability**: Q3 2025 marked ECARX's first net profit of USD 0.9 million and EBITDA breakeven.
- **Revenue Growth**: 11% YoY to USD 220 million, driven by 51% YoY shipment growth to 667,000 units.
- **Global Expansion**: Secured USD 2.5 billion in global contracts, including a second European automaker project.
- **Technology Leadership**: Automotive SPICE 4.0 certification and 730+ patents support global partnerships.
- **Funding Boost**: USD 150 million convertible notes to accelerate international expansion and R&D.

**【CEO Summary Section】**
- Achieved EBITDA breakeven and net profit of USD 0.9 million for the first time, marking a significant milestone.
- Revenue grew 11% YoY to USD 219.9 million, with gross profit up 39% YoY to USD 47.6 million (22% gross margin).
- Shipments reached 667,000 units (51% YoY growth), with Antora series shipments hitting 196,000 units.
- Secured new projects with Chinese and European automakers, adding USD 400 million to the pipeline, bringing total global contracted revenue to USD 2.5 billion.
- Launched Pikes computing platform in mass production, contributing to ASP improvement and profitability.
- Raised USD 150 million in convertible notes to fuel international expansion and R&D.

**【COO Operational Update】**
- Served 18 OEMs across 28 brands, with 10 million vehicles globally equipped with ECARX tech.
- Won second project with a top-5 Chinese automaker and a new European automaker, highlighting global expansion.
- Launched Volvo XC70 with Antora 1000 Pro and Cloudpeak software, achieving 40,000+ presale orders for Geely Galaxy M9.
- Received Automotive SPICE 4.0 Level 3 certification for Antora 1000 Pro, enabling collaborations with global automakers.
- Expanded IP portfolio to 730 registered patents and 835 pending applications.

**【CFO Financial Highlights】**
- Total revenue USD 220 million (+11% YoY), driven by 11% YoY growth in sales of goods (USD 182 million).
- Gross margin improved 4% YoY to 22%, with hardware margin at 10-15% and service revenue up 68% YoY.
- Operating expenses down 42% YoY to USD 44 million, achieving USD 3 million operating income.
- Adjusted EBITDA USD 8.3 million vs. loss of USD 32 million YoY, with USD 50 million cash on hand.

**【Q&A Highlights】**
- **Q4 Guidance**: Expect volume of 1.4-1.5 million units, with peak season driving record revenue.
- **2026 Outlook**: Anticipate Q1 softness but offset by Antora/Pikes growth and global pipeline execution.
- **Overseas Wins**: Added USD 400 million to pipeline, targeting 30%+ overseas revenue by 2028.
- **Production Capacity**: Scaling China factory to 1 million units and expanding in South Asia/Europe.
- **LiDAR Progress**: Flash-based LiDAR in R&D with first customer launch targeted for Q4 2026.
- **Global Strategy**: Singapore hub to support European/US supply chains, with full-stack solutions for global OEMs.

ECARX Holdings Inc. (ECX) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

ECX

ECX fundamentals

You can ask Aime