ECARX Secures $1 Billion in Global Contracts Amid Q2 Revenue Decline, Targets EBITDA Break-Even

ECARX Holdings Inc. (NASDAQ: ECX) reported securing international contract wins exceeding $1 billion in lifetime revenue during the second quarter of 2025, signaling strong global demand for its mobility technology solutions despite a 10% year-over-year revenue decline to $155.6 million. The company's shipment of its Antora® series solution reached 135,000 units, representing a 112% increase compared to the same period last year, while total cash stood at $99.2 million as of June 30, 2025.

Chairman and CEO Ziyu Shen attributed the quarterly revenue decrease to seasonal headwinds and contract timing, emphasizing that disciplined execution reduced operating expenses by 20% to $57.2 million. The company maintains confidence in achieving EBITDA break-even in each remaining quarter of 2025 and delivering close to 20% revenue growth for the full year, supported by a robust pipeline of new projects expected to launch in the coming quarters.

Technological advancements played a crucial role in ECARX's quarterly performance, particularly the upgrade of its ECARX AutoGPT in-vehicle AI large model application integrated with the DeepSeek-RI model. This enhancement provides faster, more secure, and personalized user experiences while expanding local processing capabilities and improving reasoning for automotive-specific applications. The upgrade also addresses critical industry concerns by enhancing data privacy, reducing latency, and decreasing data transmission costs, helping automakers comply with local privacy regulations.

The company demonstrated its AI-driven intelligent cockpit and driving solutions at the 2025 World Artificial Intelligence Conference in Shanghai, showcasing how its Antora® series computing platform and AI-powered solutions enable global automakers to lead in software-defined vehicle technology. This technological leadership earned ECARX the Technical Development & Innovation award at Volkswagen Brazil's conference in Rio de Janeiro, reflecting the company's growing impact on the global automotive industry.

Customer relationships strengthened significantly during the quarter, with ECARX's AI Enhanced Antora® 1000 computing platform and Cloudpeak® cross-domain software stack powering the intelligent cockpit of the Geely Galaxy A7 plug-in hybrid sedan. This expansion into the high-volume family sedan segment demonstrates deeper integration across Geely's ecosystem, with ECARX applications now featured in many best-selling models including the Galaxy brand, which achieved one-million cumulative sales faster than any other neighborhood electric vehicle brand.

FAW Group continues utilizing ECARX's technology in its Hongqi Tiangong 05 all-electric sedan launched in January, while the Cloudpeak® software stack supports the global launch of the Volvo EX30 Cross Country compact electric SUV. The vehicle began sales in China in July 2025 following its European debut in February, highlighting ECARX's expanding international presence.

Global expansion accelerated with ECARX obtaining three critical certifications: ASPICE v4.0 CL3, ISO9001, ISO14001, and ISO45001, covering the entire lifecycle from design to sales of intelligent cockpit and driving solutions. These internationally recognized certifications remove barriers to entry in developed markets requiring stringent quality, environmental, and safety standards. The company further strengthened its global positioning by opening its new headquarters in Singapore, described as a strategic hub for accelerating globalization and reinforcing its international technology brand identity.

With solutions already powering over 9.3 million vehicles worldwide, these developments create clearer paths for integration with global automotive platforms and enhance competitive positioning for new project bids. The combination of technological innovation, expanded customer relationships, and strategic global certifications positions ECARX for sustained growth despite short-term revenue challenges, reflecting the evolving landscape of software-defined vehicles and increasing automaker reliance on integrated technology solutions.