WRD

MKT CAP:$2B

WeRide Inc.

Market Cap

$2B

Technology·Software - Infrastructure·🇨🇳 China·NASDAQ

Technology·Software Infra·🇨🇳·NASDAQ

Stock Price

$7.84-$1.55 (-16.45%)

Apr 23, 2026

Company Details

WeRide, Inc. engages in the development of an autonomous driving technology platform. It offers Robotaxi, Robobus, Robovan, Robosweeper, and advanced driving solutions, providing smart services in online ride-hailing, on-demand transport, u...

CEO

Xu Han

IPO Date

Oct 24, 2024

Website

www.weride.ai

Key Metrics TTM

Revenue

$99M

+56.1% YoY

Net Income

-$240M

EPS (Diluted)

-$0.82

Free Cash Flow

—

Revenue / Share

$0.31

Gross Margin

30.2%

Operating Margin

-270.3%

Net Margin

-241.9%

FCF Margin

—

P/S

25.0x

P/E

—

Earnings Reports

FY 2025

Apr 23, 2026

NEW

$97M+84.4%EPS -$0.77

Q4 2025

Apr 23, 2026

NEW

$45M+119.9%EPS -$0.25

Q3 2025

Oct 21, 2025

$25MEPS -$0.16

Q2 2025

Jul 31, 2025

$19M+60.7%EPS -$0.21

Q1 2025

May 21, 2025

$11M+1.8%EPS -$0.20

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 23	$21M	$11M	-$41M
Q1 24	$10M	$4M	-$55M
Q2 24	$12M	$4M	-$47M
Q4 24	$21M	$8M	-$86M
Q1 25	$11M	$4M	-$64M
Q2 25	$19M	$5M	-$66M
Q3 25	$25M	$8M	-$56M
Q4 25	$45M	$13M	-$83M

Valuation

Quarter	P/S	P/E
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q4 24	59.9x	—
Q1 25	71.3x	—
Q2 25	36.6x	—
Q3 25	39.7x	—
Q4 25	24.8x	—

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 25	-50.0%	+18.8%
Q2 25	+78.7%	+29.9%
Q3 25	+116.1%	+37.2%
Q4 25	+119.9%	+20.6%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 23	$35M	$15M	$1M	—
Q1 24	$41M	$17M	$2M	—
Q2 24	$35M	$13M	$2M	—
Q4 24	$47M	$44M	$2M	—
Q1 25	$48M	$18M	$2M	—
Q2 25	$47M	$23M	$2M	—
Q3 25	$46M	$15M	$3M	—
Q4 25	$59M	—	—	$37M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q4 23	—	-467.4%	—
Q1 24	—	-529.1%	—
Q2 24	—	-400.6%	—
Q4 24	—	-655.8%	—
Q1 25	-50.0%	-604.9%	-654.9
Q2 25	78.7%	-355.5%	-276.8
Q3 25	116.1%	-221.9%	-105.8
Q4 25	119.9%	-183.6%	-63.7

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 24	$267M	$344M	$612M
Q3 24	$155M	$350M	$505M
Q4 24	$624M	$337M	$961M
Q1 25	$610M	$285M	$896M
Q2 25	$561M	$290M	$851M
Q3 25	$504M	$288M	$792M
Q4 25	$977M	$65M	$1.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 23	268M	—	—
Q1 24	268M	0.0%	—
Q2 24	268M	0.0%	—
Q4 24	275M	+2.7%	—
Q1 25	279M	+1.3%	+4.1%
Q2 25	285M	+2.0%	+6.2%
Q3 25	285M	0.0%	+6.2%
Q4 25	325M	+14.3%	+18.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q4 24	$21	1.0M
Q1 25	$11	1.0M
Q2 25	$19	1.0M
Q3 25	$25	1.0M
Q4 25	$45	1.0M

Revenue / Employee