Unitree reports 70% surge in quarterly revenue, though AI investment weighs on net profit
Unitree reports a 70 per cent revenue jump in the third quarter, but surging research and development costs weigh on core profits
The results for the three months ending September 30 showed a continued surge in research and development spending by the Hangzhou-based company, which jumped 249.58 per cent year-on-year to 127.04 million yuan, or around 19 per cent of revenue, as it ramps up investments in the software “brains” of its industry-leading robotic bodies.
According to the filing with the Shanghai Stock Exchange, Unitree Robotics posted a net profit attributable to shareholders of 387 million yuan, a 270.54 per cent jump, for the first three quarters of the year.
