ECARX Holdings Inc. (NASDAQ: ECX) reported securing over $1 billion in global contract wins during the second quarter of 2025, marking a significant milestone in the mobility technology provider's international expansion efforts. The company achieved this despite a 10% year-over-year revenue decline to $155.6 million, attributing the decrease to seasonal headwinds and contract timing while emphasizing progress toward profitability.
The contract wins span both global and domestic automakers, with the company collaborating with local partners to supply one of China's top-five automakers and developing a next-generation intelligent cockpit operating system for a premium global brand. Shipment of ECARX's Antora® series solution reached 135,000 units during the quarter, representing a 112% increase year-over-year, demonstrating strong market adoption of its integrated software and hardware offerings.
Technological advancements played a crucial role in driving these achievements, particularly the upgrade of 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 data privacy compliance for automotive manufacturers operating across different regulatory environments.
The company's growing technological prowess was recognized at Volkswagen Brazil's conference, where ECARX received the Technical Development & Innovation award, reflecting its expanding global influence. ECARX showcased its AI-driven intelligent cockpit and driving solutions at the 2025 World Artificial Intelligence Conference in Shanghai, demonstrating how its Antora® series computing platform and AI-powered solutions are keeping automakers at the forefront of technological advancement.
Customer relationships deepened 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. The company's solutions now feature in many Geely best-selling models, including the Galaxy brand, which achieved the one-million cumulative sales milestone faster than any other neighborhood electric vehicle brand.
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 also officially opened its new global headquarters in Singapore, strengthening its positioning as an international technology brand.
Chairman and CEO Ziyu Shen stated that disciplined execution of the company's lean operating strategy reduced operating expenses by 20% to $57.2 million. With a robust pipeline of new projects expected to launch over the next two quarters, ECARX remains on track to achieve EBITDA break-even in each remaining quarter and full-year 2025, while delivering close to 20% revenue growth for the year.
