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WRD

WeRide Inc.

WRD

WeRide Inc. • NASDAQ
$8.25 ▲ 2.61% (+0.21)
Market Cap $2.37 B
52w High $44.00
52w Low $6.03
Dividend Yield 0%
P/E -10.86
Volume 2.80M
Outstanding Shares 287.48M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $361.134M ▲ $-1.139B ▼ $-2.517B ▼ -696.918% ▼ $-8.85 ▼ $0 ▲
Q2-2025 $127.178M ▲ $489.568M ▲ $-406.445M ▼ -319.588% ▲ $-1.44 ▼ $-452.124M ▼
Q1-2025 $72.437M ▼ $461.568M ▼ $-385.072M ▲ -531.596% ▼ $-1.38 ▲ $-438.174M ▲
Q4-2024 $140.822M ▲ $638.612M ▼ $-592.441M ▲ -420.702% ▲ $-2.16 ▲ $-923.527M ▼
Q3-2024 $70.014M $903.514M $-1.043B -1.489K% $-3.81 $-891.114M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.571B ▼ $0 ▼ $0 ▼ $0 ▼
Q2-2025 $5.823B ▼ $7.146B ▼ $682.097M ▲ $6.464B ▼
Q1-2025 $6.13B ▼ $7.312B ▼ $578.179M ▼ $6.734B ▼
Q4-2024 $6.574B ▲ $7.694B ▲ $627.751M ▼ $7.066B ▲
Q3-2024 $3.459B $4.643B $9.025B $-4.382B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow

Revenue by Products

Product Q2-2018Q3-2018Q4-2018
Natural Gas Liquids
Natural Gas Liquids
 $10.00M ▲$10.00M ▲$10.00M ▲
Natural Gas Production
Natural Gas Production
 $10.00M ▲$10.00M ▲$20.00M ▲
Oil Production
Oil Production
 $210.00M ▲$240.00M ▲$220.00M ▼

Five-Year Company Overview

Income Statement

Income Statement WeRide is still in a very early, investment-heavy phase. Revenue is small and has not grown consistently, which suggests commercial deals are still lumpy and pilot‑stage rather than broad rollouts. On the positive side, the company does generate a positive gross margin, meaning its projects and services can create value once sold. However, operating losses and net losses are very large compared with its revenue and have been widening over time. Most of the income statement is dominated by spending on research, engineering, and scaling rather than by sales. Profitability is not in sight yet, and the business model is still in the “build and prove” stage rather than the “harvest profits” stage.

Balance Sheet

Balance Sheet The balance sheet shows a meaningful improvement in the most recent year. Total assets have grown, cash has been replenished, and reported equity has swung from negative to clearly positive, likely helped by new capital raised around the IPO or prior financing rounds. Debt levels are very low relative to the asset base, so the business is not heavily leveraged. Overall, WeRide now looks better capitalized and less fragile than in prior years, but its equity base is still backed by a company that has accumulated substantial historical losses and must still prove it can turn that capital into sustainable returns.

Cash Flow

Cash Flow Cash flow from operations has been negative for several years, reflecting ongoing cash burn to fund development, testing, and market expansion. Free cash flow is also clearly negative, though capital spending on physical assets is relatively modest; most of the cash outflow appears to be for people, software, and operations rather than factories or heavy equipment. The pattern is typical of a deep‑tech company in the scaling phase, but it means the business remains dependent on external funding or future revenue growth to support its burn. The key watchpoint is whether operating cash outflows begin to narrow as commercial deployments ramp up, or whether additional financing will be needed sooner.

Competitive Edge

Competitive Edge WeRide has built a notable competitive position in autonomous driving, especially relative to its size. It has regulatory approvals in multiple countries and holds a landmark city‑level permit for fully driverless robotaxis in Abu Dhabi, which is a meaningful barrier for new entrants. Its partnerships with major automakers, technology providers, and ride‑hailing platforms give it both distribution channels and technical support. The dual‑flywheel model—using data from mass‑market driver‑assistance systems to improve full autonomy, and vice versa—creates a reinforcing data advantage. At the same time, the company operates in a very crowded and fast‑moving global field, with powerful competitors and shifting regulations. Its ultimate market share will depend on execution quality, safety record, partner stability, and how quickly cities and regulators embrace large‑scale autonomous fleets.

Innovation and R&D

Innovation and R&D Innovation is the core of WeRide’s story and also the main source of its heavy losses. The WeRide One platform aims to unify hardware and software across many vehicle types, which, if successful, could lower costs and speed deployments. Its end‑to‑end AI model, Genesis simulation environment, and the WePilot 3.0 system (developed with Bosch) show a clear focus on advanced algorithms and scalable software. The cost‑reduction push through its high‑performance computing platform, developed with Lenovo and powered by NVIDIA chips, is designed to make its solutions economically viable at scale. Overall, WeRide behaves like a pure R&D and platform company that is now trying to commercialize years of engineering work. The risk is that high R&D spending continues for many years before revenue fully catches up; the opportunity is that successful scaling could turn this investment into a defensible, high‑margin software and services business.

Summary

WeRide is a classic high‑potential, high‑uncertainty early‑stage technology company. Financially, it has a small revenue base, persistent and sizable losses, and ongoing cash burn—but also a much stronger balance sheet than in prior years, with ample cash and little debt after recent financings. Strategically, it has meaningful strengths: early regulatory wins, a global footprint, strong partners, and a broad autonomous product lineup spanning robotaxis, buses, logistics, and city services. Its edge lies in data, software platforms, and long‑running R&D, not in hardware. The central question is execution: whether the company can turn technical leadership and pilot projects into large‑scale, profitable commercial operations before investor capital and regulatory patience are stretched. Progress on revenue growth, margin improvement in key regions like Abu Dhabi, and signs of narrowing cash burn will be the main indicators of how that transition is going.

NEWS

November 26, 2025 · 2:00 AM UTC

WeRide and Uber Launch Middle East's First Fully Driverless Robotaxi Commercial Operations in Abu Dhabi, UAE

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November 24, 2025 · 4:00 AM UTC

Global Expansion Accelerates: Landmark UAE Driverless Robotaxi Commercial Permit, Autonomous Vehicles Licensed in Eight Countries, Record YoY Revenue Growth of 144.3%

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November 20, 2025 · 4:30 AM UTC

WeRide's Robotaxi Receives Driverless Permit in Switzerland; Autonomous Vehicles Now Licensed in 8 Countries

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November 17, 2025 · 7:42 AM UTC

WeRide Secures World's First City-level Fully Driverless Robotaxi Permit Outside the U.S.

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November 13, 2025 · 2:50 AM UTC

WeRide and Grab Achieve First Autonomous Vehicle Testing in Singapore's Punggol District

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