ECARX Holdings Inc. Announces First Quarter 2026 Financial Results

ECARX Holdings Inc. reported its unaudited financial results for the first quarter ended March 31, 2026. The company achieved a gross margin of 21.4% and a positive adjusted EBITDA of US$4 million, a significant improvement from the previous year. Revenue was US$131.5 million, down 22% year-over-year, primarily due to a decrease in sales of goods and software license revenue. Research and development expenses decreased by 32% year-over-year due to R&D integration and AI deployment. Selling, general, and administrative expenses also decreased by 24%. The net loss was US$11.0 million, an improvement from US$27.2 million in the same period last year. The company reiterated its full-year 2026 revenue guidance of US$1.0-US$1.1 billion. Key developments include strengthening corporate governance with new board leadership and CFO, expanding global footprint with a partnership with May Mobility, and advancing the Volkswagen Group partnership. ECARX also announced a preliminary plan to acquire a stake in DreamSmart Technology and a $14 million gain from divesting a portion of its SiEngine shares.