Unitree Q3 net profit falls 17.4% as R&D spending jumps
Unitree's first post-listing results show revenue up 70% year on year, but net profit missed market expectations as R&D rose 249.6%.
Unitree reported third-quarter revenue of 665 million yuan, up about 70% year on year, but net profit fell 17.4% to 112.7 million yuan, below the market expectation of 224 million yuan, according to digitaltoday.co.kr.
The Chinese humanoid robot maker's research and development spending rose 249.6% year on year to 127 million yuan, equal to about 19% of quarterly revenue. Unitree said it is pursuing physical AI models that collect their own data and improve iteratively through training.
At the 2026 World Internet Conference internet entrepreneurs forum in Wuzhen, founder Wang Xingxing said next year is likely to be a turning point for embodied intelligence and robot models.
These are Unitree's first quarterly results since its listing. In August, the company listed at 150.80 yuan per share, and its stock surged intraday to 1,100 yuan on the first trading day. In mid-October, the share price fell to 404.03 yuan, while its price-to-earnings ratio at one point reached 465.22, against an industry average of about 38.5.
For the first nine months of the year, Unitree's cumulative revenue was 1.82 billion yuan, up 55.7%, and net profit was 386.7 million yuan, up 270.5%. Inventory stood at 1.02 billion yuan at the end of September, up from 367 million yuan at the end of 2025.
Wang had said in mid-October that AI-equipped robots could reach a ChatGPT moment as early as 2027, and that OpenAI's GPT-6 could accelerate the robot industry within one to two years.
Quick answers
What were Unitree's third-quarter 2026 results?
Revenue was 665 million yuan, up about 70% year on year, while net profit was 112.7 million yuan, down 17.4% and below the market expectation of 224 million yuan.
How much did Unitree spend on R&D in the third quarter?
R&D spending rose 249.6% year on year to 127 million yuan, about 19% of quarterly revenue.
What did Wang Xingxing say about the robot industry?
Speaking at the 2026 World Internet Conference in Wuzhen, he said next year is likely to be a turning point for embodied intelligence and robot models.