Momenta revenue rises 75.9% in first results since Hong Kong listing

A Momenta robotaxi stood on display at the Shanghai Auto Show in April 2025. Since then, the autonomous-driving company has turned more of its software into a production business: first-half revenue reached 1.6 billion yuan, up 75.9% year on year, in its first results since listing in Hong Kong.

The strongest signal is coming from vehicles already being built. New installations of Momenta’s mass-production solutions rose 83.7% to about 321,000 units in the first half, pushing cumulative installations above 1 million. The company delivered 37 mass-produced vehicle models during the period, bringing its cumulative total to 105 across 26 automakers.

That scale is beginning to show in the accounts. Gross margin reached 73.2%, while adjusted loss narrowed to 14.1 million yuan from 416 million yuan a year earlier. Technical development services generated 995 million yuan, or 62.1% of revenue, and licensing services added 607 million yuan. On an IFRS basis, however, net loss widened to 16.54 billion yuan, mainly because of a 16.31 billion yuan noncash charge tied to changes in the fair value of preferred shares and other financial liabilities.

Momenta is using its world model as a common technical foundation for production vehicles, robovans and robotaxis. Its systems have accumulated more than 13 billion kilometers of real-world driving data and over 100 million high-value data clips. The latest-generation R7 World Model is set to begin deployment in mass-produced vehicles in the third quarter of 2026, with robovan and robotaxi adoption planned later in the year.

So, concretely, the near-term change is for automakers: Momenta’s systems are being installed in more mass-produced vehicles as production volumes grow. The robovan program is still in small-scale pilot operations in Suzhou, and the first mass-produced robotaxi is scheduled for the fourth quarter. Momenta aims to deploy hundreds of robotaxis in China and overseas by the end of 2026, but those deployments remain targets. The company is also developing L3 projects — systems designed for conditional automated driving — with multiple automakers, subject to regulatory approval from 2027.