v3.26.1
Segment reporting
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment reporting Segment reporting
The Group is comprised of a single reportable segment organized around automotive technology and connectivity services. for smart vehicles. The Group generates revenues from its technology products and services using its capabilities in delivering turnkey solutions for next-generation smart vehicles, system on a chip, central computing platforms and software. The Group derives its revenue primarily in PRC and manages its activities on a consolidated basis.
The Group uses the management approach in determining its operating segments. The Group’s chief operating decision maker (“CODM”) is the Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. For the purpose of internal reporting and management’s operation review, the Group’s chief executive officer does not segregate the Group’s business by product or service.

The Group’s long-lived assets are substantially all located in the PRC and substantially all the Group’s revenues are derived from within the PRC, therefore, no geographical information is presented.
The CODM evaluates performance for its single reportable segment based on total revenues, gross profit, operating expenses excluding share-based compensation expense and loss from operation.
The following table presents financial information with respect to the Group’s single reportable segment:
Year ended December 31,
202320242025
US$US$US$
Total revenues662,226 771,530 847,858 
Total cost of revenues(483,608)(611,431)(686,596)
Gross profit178,618 160,099 161,262 
Operating expenses excluding share-based compensation expense1
(333,500)(302,051)(229,376)
Share-based compensation expense24,866 19,056 13,341 
Total operating expenses(308,634)(282,995)(216,035)
Loss from operation(130,016)(122,896)(54,773)
Interest income4,313 3,078 3,710 
Interest expense(11,239)(18,568)(23,772)
(Loss) gain from equity method investments(6,142)5,611 1,236 
Other non-operating (expenses) income , net(1,340)(4,766)5,904 
Loss before income taxes(144,424)(137,541)(67,695)
Income tax benefit (expense)525 (210)(1,244)
Net loss(143,899)(137,751)(68,939)
1 This measure is not in accordance with, or an alternative to GAAP. The Group excludes share-based compensation expense since it is non-cash in nature and its valuation and measurement depends on factors such as volatility not reflective of the Group’s operating performance.

Major Customer
Revenues from a group of customer entities under common control in the segment represented US$537,053, US$671,982, US$754,462, or 81.0%, 87.1% and 89.0% for the years ended December 31, 2023, 2024 and 2025, respectively.