ECX.US (ECX.US) is profitable for the fourth consecutive quarter, Q2 revenue surged 45% year over year

The Zhitong Finance App learned that on August 11, 2026, Yikatong Technology (ECX.US) announced the 2026 Q2 financial report. Quarterly revenue increased 45% year over year, gross margin increased 9 percentage points year over year to 19.8%, and gross profit increased 165% year over year. In the second quarter, the company achieved overall profit for four consecutive quarters, and the soundness and sustainability of operations were fully verified.

Specifically, total revenue reached US$225.2 million, an increase of 45% over the previous year. Among them, product sales revenue was US$196.4 million, up 50% year on year, mainly due to overseas market expansion, increased product share of high value-added computing platform products and cost pricing optimization; service revenue of US$28.1 million, up 21% year on year, mainly due to concentrated implementation of orders for R&D and delivery of new models; software licensing revenue declined year-on-year, and the overall revenue structure continued to be optimized for high-value businesses.

This quarter's gross margin increased to 19.8% from 10.8% in the same period last year, and gross profit increased 165% year over year. At the same time, relying on AI empowerment and integration of refined resources, the company's operating efficiency continued to improve, R&D and marketing expenses fell 14% year on year, and structural cost reduction effects continued to be unleashed.

The company's operating resilience continued to be prominent during the period, and net loss narrowed sharply year over year. The adjusted EBITDA reached 500,000 US dollars, achieving overall profit for four consecutive quarters. As of June 30, 2026, the company's total cash reserves were US$165.5 million to provide financial support for technology iteration, product upgrades and global expansion.

Overall product shipments this quarter exceeded 550,000 units, and the share of high-end Antola® and Ekatong Pike® solutions increased from 20% in the same period last year to 42%; among them, Antola® shipments increased 52% year over year, Yigatong Pike® solutions increased more than 20 times year over year, and the penetration rate of high-value products continued to increase. During the period, a total of 4 major brands and 9 new models equipped with the company's full-stack intelligent solutions achieved mass production. At the same time, 33 new model projects were added, and global commercial expansion progressed steadily. As of June 30, 2026, Yigatong Technology Solutions have served approximately 12 million vehicles worldwide.

Furthermore, the company's global business implementation progressed smoothly this quarter, and the core technology layout continued to improve. The Latin American industrialization project between the company and Volkswagen Group is progressing steadily. It is sprinting to mass production nodes in 2027, and has won the Volkswagen Brazil “Connected Ecological Partner Award”, further increasing the recognition of mainstream international car companies. On the technical side, the company reached a business agreement to acquire Flyme software; joined hands with TPK to jointly develop the ORCA lidar platform. It is expected to achieve mass production overseas in 2028 and continue to improve the full-stack intelligent technology layout. At the same time, the company raised the amount of convertible bonds issued in 2025 from 100 million US dollars to 130 million US dollars to provide capital guarantees for long-term business development.

Looking ahead to the whole year, Yigatong Technology will maintain its 2026 revenue guidance of 1 billion to 1.1 billion US dollars unchanged. The company predicts that fluctuations in global storage costs and phased strategic investment may have a phased impact on short-term gross profit. In the long term, it will continue to rely on product upgrades, lean operation and global layout to stabilize the foundation for high-quality growth.

Shen Ziyu, CEO of Yikatong Technology, said, “In the second quarter, the company handed over solid answers at both the financial and strategic execution levels. Faced with a complex industry environment, we achieved a 45% year-on-year increase in revenue, nearly doubled gross margin, and achieved overall profit for the fourth consecutive quarter by continuing to advance our high-value product strategy. Shipments of products such as Antola® and Ekaton Pike® have grown rapidly, further verifying the effectiveness of the company's product structure upgrade direction. In addition, we are actively applying AI technology to R&D and operation, effectively improving overall efficiency and further strengthening profit quality.