Axera reported interim results for the six months ended 30 June 2026, highlighting a rapid top-line expansion driven by on-device computing, automotive and edge-AI chips, while deepening investment in next-generation products kept the company in loss-making territory.
Revenue climbed 181.8% year-on-year to RMB402.32 million, led by: • On-device computing products up 169.5% to RMB341.00 million (84.8% of total); • Edge-AI products up 251.9% to RMB27.69 million; • Smart-vehicle solutions up 252.1% to RMB29.09 million.
Gross profit surged 308.3% to RMB116.68 million, lifting gross margin to 29.0% from 20.0% a year earlier, reflecting a richer product mix and economies of scale.
Operating metrics were weighed by continued technology investment. R&D expenses increased 81.0% to RMB516.45 million, representing 128% of revenue. Sales and marketing and G&A costs rose 68.8% and 38.2% respectively.
The company recorded a statutory net loss of RMB687.99 million versus RMB562.38 million in the prior-year period. Adjusted net loss (excluding redemption-liability movements, share-based payments and listing expenses) widened to RMB540.05 million from RMB319.24 million. Basic loss per share narrowed to RMB1.22 from RMB1.62 due to a larger average share count following the February Hong Kong IPO.
Liquidity strengthened materially: cash and cash equivalents reached RMB1.97 billion at period-end (31 December 2025: RMB337.78 million), while total deemed cash—including time deposits and financial assets at FVPL—stood at RMB2.18 billion. The gearing ratio fell to 33.2% from 233.6% after the IPO proceeds and the termination of pre-IPO redemption rights converted RMB6.69 billion of liabilities into equity.
Capital expenditure totalled RMB248.06 million, mainly for advanced-process tape-outs and IP licences. Outstanding purchase commitments for intangibles amounted to RMB7.84 million.
Segment updates: • Edge-AI: Launched the AX Clawbox series and 8850 SoCs to capture exploding on-premise inference demand. • Smart-vehicle: Secured 24 new model wins; shipped ~420,000 automotive SoCs. Flagship M57 entered mass production, while ADAS-grade M97 and M95 samples were delivered. • On-device: “Night Vision” SoCs saw sales volume more than double, buoying the company’s top line and market share.
The board declared no interim dividend.
As of 30 June 2026, headcount stood at 724, with total staff costs of RMB344.10 million. Axera reiterated its plan to deploy the remaining HK$2.16 billion of IPO proceeds by end-2030, prioritising platform R&D, ecosystem investments and sales expansion.