Robot Mowers Drive LDROBOT's 35% Revenue Growth Amid Losses in First Post-IPO Report
Summary written by AI from www1.hkexnews.hk. Read the original source for this article (PDF file).
Correction, October 8, 2026: the original version of this article, published August 24, 2026, gave figures that were not in LDROBOT's report (a $128 million revenue figure, a $19 million loss, a planned "mid-tier model", partnerships with lawn-care franchises and comparisons with Robomow, John Deere and Samsung). None of that came from the company. The article has been rewritten from LDROBOT's interim results announcement (PDF file) filed with the Hong Kong Stock Exchange on August 24, 2026. The headline was accurate and has been kept.
Shenzhen LDROBOT, the Hong Kong-listed parent of the ANTHBOT robot mower brand, reported a 35.2% rise in first-half revenue and a wider loss in its first results since listing. Revenue for the six months to June 30, 2026 was RMB 522.5 million, up from RMB 386.4 million a year earlier. Robot lawn mowers did most of the work: that segment grew 159.1%.
Robot Mowers Are Now 38.4% of the Business
Robot lawn mower revenue was RMB 200.7 million, up from RMB 77.5 million in the first half of 2025. Mowers were 38.4% of group revenue, against 20.1% a year earlier. The rest came from LDROBOT's original business, visual perception products for other people's robots: RMB 309.2 million in total, split between sensors (RMB 206.3 million, down 9.6% as the company phased out low-end LiDAR) and algorithm modules (RMB 102.9 million, up 31.2%).
Overseas revenue reached RMB 203.0 million, up 225.5%, and the company says its products are sold in more than 50 countries and regions.
Margins Up, Loss Wider
Gross profit rose 53.2% to RMB 150.6 million and the gross margin improved to 28.8% from 25.4%, which LDROBOT attributes to selling more higher-margin products, mowers among them.
The loss for the period was RMB 42.1 million, against RMB 13.8 million a year earlier. On the company's own adjusted measure, which adds back RMB 15.3 million of share-based payments and RMB 11.3 million of listing expenses, the adjusted net loss was RMB 15.5 million, compared with an adjusted profit of RMB 2.2 million in the first half of 2025.
The money went on growth. Selling and marketing expenses rose 124.1% to RMB 81.0 million, research and development rose 48.5% to RMB 75.7 million, and administrative expenses rose 33.8% to RMB 44.7 million. LDROBOT says it chose to step up brand marketing because it judges the robot mower industry to be "at a critical stage in the formation of its competitive landscape".
The balance sheet can carry it for now. Cash and cash equivalents were RMB 720.8 million at June 30, up from RMB 119.4 million at the end of 2025, after the May 11, 2026 listing raised net proceeds of about HK$806.8 million (RMB 698.9 million). The group reports no interest-bearing debt.
What ANTHBOT Shipped
During the half LDROBOT launched its third-generation ANTHBOT M-Series and N-Series mowers, built around a self-developed 360-degree LiDAR and a navigation system it calls HoloSense, which fuses satellite positioning (PPP and NRTK), LiDAR and binocular vision so that no RTK base station has to be installed. The company says it has completed three product generations between 2024 and 2026. The flagship N8 combines four functions, mowing, mulching, grass collection and leaf sweeping, with automatic grass dumping.
On distribution, LDROBOT says that as of June 30 it had over 100 channel partners and more than 1,000 offline retail stores, that offline revenue rose 259.4%, and that Germany, France, Eastern Europe and Northern Europe grew fastest. It has set up a regional operation centre in Europe. In June 2026 the M5 series ranked among Amazon Germany's best sellers in robotic lawn mowers, and the company signed goalkeeper Marc ter Stegen as ANTHBOT's global ambassador.
For market context LDROBOT cites IDC: shipments of wire-free robot mowers reached 1.318 million units in 2025, up 182.4%, overtaking wired models for the first time.
What Came Next
The outlook section of the report said LDROBOT would use "strategic investments and mergers and acquisitions" to secure local channel resources in Europe and North America. On October 7, 2026 it did exactly that, agreeing to buy German mower maker SABO and its network of more than 1,400 specialist retailers.
Why It Matters
LDROBOT is one of the few robot mower makers that publishes audited-quality numbers, so its report is a rare look at the economics of the Chinese wire-free wave: revenue in the segment more than doubling, gross margins improving, and losses accepted on purpose to buy brand and shelf space while the market is still forming.
FAQ
Is LDROBOT profitable?
No. It reported a loss of RMB 42.1 million for the first half of 2026 (RMB 15.5 million on its adjusted measure).
How big is ANTHBOT's robot mower business?
RMB 200.7 million of revenue in the first half of 2026, 38.4% of the group total, up 159.1% year on year.
Where do the figures come from?
LDROBOT's interim results announcement for the six months ended June 30, 2026, filed with the Hong Kong Stock Exchange on August 24, 2026.