Unitree reports 70% surge in quarterly revenue, though AI investment weighs on net profit

Unitree Robotics reported a 69.93% year-on-year increase in quarterly revenue, reaching 665 million yuan (US$99.7 million) for the three months ending September 30. However, net profits excluding non-recurring items fell 17.42% to 105 million yuan. The company, based in Hangzhou, also noted a significant increase in research and development spending, which rose by 249.58%. This marks Unitree's first earnings report since going public.