WeRide Inc. (WRD) shares climbed over 8% in premarket trading Monday after the autonomous driving company delivered third-quarter results that show the robotaxi business is finally starting to look like, well, an actual business.

Revenue Growth Across the Board

Total revenue hit RMB171 million (about $24 million) in the quarter, more than doubling from RMB70 million in the same period last year. But the really interesting numbers are hiding in the details.

Product revenue jumped 428% year-over-year to RMB79.2 million ($11.1 million), powered by higher sales of robotaxis and robobuses. These aren't just test vehicles anymore—WeRide is actually selling autonomous vehicles to customers.

Service revenue also posted solid growth, climbing 66.9% to RMB91.8 million ($12.9 million). That revenue comes from intelligent data services and the technical support needed to keep autonomous driving systems running smoothly.

The star of the show, though, was robotaxi revenue specifically, which exploded 761% year-over-year to RMB35.3 million ($5 million). That's the kind of growth that gets investors excited about the future of autonomous mobility.

Profitability Picture Improving

Perhaps more impressive than the revenue growth is what's happening to margins. Gross profit surged to RMB56.3 million ($7.9 million) from just RMB4.56 million a year earlier. Gross margin expanded from 6.5% to 32.9%, suggesting the unit economics are starting to work at scale.

The company still posted a non-IFRS adjusted net loss of RMB275.6 million ($38.7 million), compared to RMB240.3 million in the prior year quarter. But that's expected for a company in growth mode building out infrastructure across multiple countries.

WeRide finished the quarter with RMB4.50 billion ($631.6 million) in cash and deposits, giving it plenty of runway to execute on its expansion plans.

Regulatory Wins Unlock Global Scale

The financial results tell only part of the story. WeRide has been racking up regulatory approvals that matter for long-term growth.

In October 2025, the company received a city-level Level 4 permit in Abu Dhabi—the first fully driverless robotaxi permit at the city level. This isn't just symbolic. WeRide says it's achieved fleet unit economics breakeven in Abu Dhabi, meaning the robotaxis are actually profitable to operate there.

The company currently runs about 150 autonomous vehicles in the Middle East, but the driverless permit opens the door to scale that fleet to tens of thousands by 2030. That's the kind of expansion that could transform the economics of the entire business.

Last week brought another milestone: Switzerland's Federal Roads Office granted WeRide a driverless permit, making it the first company to receive such approval in Switzerland. WeRide plans to launch fully driverless public passenger service there in the first half of 2026.

As of October 31, 2025, WeRide's global autonomous fleet had grown to over 1,600 vehicles, including nearly 750 robotaxis. The company now holds AV licenses in eight countries worldwide.

What Management Is Saying

Jennifer Li, WeRide's Chief Financial Officer, highlighted the company's recent Hong Kong dual primary listing: "Our Hong Kong dual primary listing, supported by reputable institutional investors globally, strengthens our balance sheet and establishes WeRide as an attractive public investment opportunity in autonomous driving."

Translation: WeRide is positioning itself as the publicly traded play on autonomous vehicles for investors who want exposure to this space.

WRD shares were trading up 8.06% to $7.780 in premarket trading Monday.