Unitree reports 70 percent revenue increase in first post-IPO results

Unitree reported a 69.93% year-over-year revenue increase to RMB 665 million for the third quarter. Net profit attributable to shareholders reached RMB 113 million in the company's debut earnings report following its August listing on the Shanghai STAR Market.

For the first nine months of the year, total revenue grew 55.71% to RMB 1.817 billion. While attributable net profit rose by 270.54% to RMB 387 million, the company noted that this figure was significantly impacted by share-based payment expenses recorded in the previous year. When excluding non-recurring items, the company’s net profit for the nine-month period actually declined by 18.78% to RMB 349 million.

To support its shift toward embodied AI models and software applications, Unitree increased its research and development expenditure significantly. R&D spending reached RMB 263 million for the first nine months, a 191.48% increase compared to the same period last year, now accounting for 14.47% of total revenue.

This earnings report highlights the company's transition from a hardware-focused robotics manufacturer to a firm prioritizing AI-integrated technology investments.