Key facts
- Unitree Robotics reported quarterly revenue of 665 million yuan ($99.7 million), up 69.93% year-on-year.
- Net profit excluding non-recurring items fell 17.42% to 105 million yuan.
- Research and development spending increased 249.58%.
Chinese robotics company Unitree Robotics announced its first earnings report since going public, revealing a significant 69.93% year-on-year increase in quarterly revenue to 665 million yuan ($99.7 million) for the three months ending September 30. Despite the revenue surge, net profit excluding non-recurring items declined by 17.42% to 105 million yuan. This profit decrease was attributed to a substantial 249.58% rise in research and development investments by the Hangzhou-based firm.