UBTECH’s 2025 revenue is 2 billion yuan: humanoid robot revenue accounts for over 40%, with a net loss of 790 million yuan.

Ask AI · Why didn’t revenue growth in gross margin reverse the net loss situation?

Lei Di Network Lei Jianping March 31

Shenzhen Unitree Robotics Co., Ltd. (hereinafter referred to as “Unitree Robotics,” stock code: 9880) today released its financial results for the year ended December 31, 2025. The financial report shows that Unitree Robotics’ 2025 revenue was RMB 2.0 billion, up 53.3% from RMB 1.3 billion in the same period of the prior year.

Unitree Robotics’ revenue from full-size embodied intelligent humanoid robot products and solutions in 2025 was RMB 820 million, accounting for 41.1%; revenue from non-embodied intelligent humanoid robot products and solutions was RMB 47.96 million, accounting for 2.4%; revenue from other intelligent robot products and solutions was RMB 629 million, accounting for 31.4%; and revenue from other intelligent hardware devices was RMB 500 million, accounting for 24.9%.

Unitree Robotics has continued to increase R&D investment in embodied intelligent humanoid robots, staying focused on industrial application scenarios. It has successively rolled out industrial versions of embodied intelligent humanoid robots WalkerS, WalkerS1, and WalkerS2.

As the embodied intelligence carrier, the WalkerS series is designed and iterated by Unitree Robotics specifically to address real needs in industrial application scenarios, and in 2025 WalkerS2 officially began mass-production delivery.

Unitree Robotics states that it is continuously committed to advancing key technology clusters, including “a human-like brain,” “a human-like cerebellum,” “high-performance limbs,” and more. These include core artificial intelligence technologies such as high-performance servo driver technology, large-model technology, semantic VSLAM technology, learning-based motion control technology, visual perception technology, and multimodal interaction technology. By combining the Brain Network 2.0 with Co-Agent technology, it builds an industrial-grade embodied intelligent humanoid robot AI dual loop, enabling a spiral evolution in which both single-unit autonomy and group coordination of embodied intelligent humanoid robots are achieved.

Gross profit of RMB 754 million in 2025

Unitree Robotics’ gross profit in 2025 was RMB 754 million, up 101.6% from RMB 374 million in the same period of the prior year. The gross margin was 37.7%, which increased by 9 percentage points from 28.7% in the same period of the prior year.

Unitree Robotics’ increase in gross profit in 2025 was mainly due to changes in revenue mix. Full-size embodied intelligent humanoid robot products and solutions with a higher gross margin became the largest source of revenue.

Unitree Robotics’ operating loss in 2025 was RMB 779 million, and its net loss was RMB 790 million.

Unitree Robotics’ adjusted net loss in 2025 was RMB 691 million, and its adjusted EBITDA was RMB -438 million.

As of December 31, 2025, Unitree Robotics had cash and cash equivalents of RMB 4.89B, compared with RMB 1.19B in the same period last year, and external bank borrowings of RMB 1.12B per month.

As of today’s close, Unitree Robotics’ share price was HKD 85.4, and its market capitalization was HKD 43.0 billion.

——————————————

Lei Di was founded by media personality Lei Jianping; if reproduced, please注明 the source.