ECARX Holdings Inc. (NASDAQ:ECX) Q2 2023 Earnings Conference Call August 9, 2023 8:00 AM ET
Company Participants
Adam Kay - Head of IR
Ziyu Shen - Co-Founder, Chairman and CEO
Peter Cirino - COO
Phil Zhou - CFO
Conference Call Participants
Derek Soderberg - Cantor Fitzgerald
Shelley Wang - Morgan Stanley
Xiaoyi Lei - Jefferies
Poe Fratt - Alliance Global Partners
Adam Kay
Good morning, and welcome to our second quarter 2023 earnings conference call. With me today are ECARX Chairman, Chief Executive Officer and Co-Founder, Ziyu Shen; Chief Operating Officer, Peter Cirino; and our recently appointed Chief Financial Officer, Phil Zhou. This call is being recorded.
Before we begin the prepared remarks, which will be followed by Q&A, today's presentation will refer to both GAAP and non-GAAP measures and also contains forward-looking statements which are based on the environment as we currently see it, and as such, include risks and uncertainties. Please refer to our filings with the SEC for more information on the specific risk factors that could cause actual results to differ materially.
With that, I'd like to hand the call over to Ziyu.
Ziyu Shen
Thank you, Adam. Hello, everyone, and welcome. Thank you for joining our second quarter earnings call. Our momentum built in the second quarter with strong revenue and quarter-on-quarter gross margin growth, demonstrating the growing interest in our products as the demand from consumers for safe and more enjoyable in-car experience. There are now 5.2 million vehicles on the road that incorporate our technology across 21 brands offered by our clients, automotive OEM customers.
Vehicles on the road equipped with our products increased 6% from last quarter and 30% from the same period last year. Our dedicated team of around 2,000 people, including over 1,500 engineers has firmly established ECARX as the leading tech provider in China, and we are gaining increasing attention from important automotive OEMs outside of China as well. We operate in a rapidly growing and evolving marketplace. The rollout of digital cockpit also increased our content per vehicle and ASPs.
The appeal of a company like ECARX is that we are working in the sweet spot of automotive technology. Our marketplace is currently being reinvented and we are the experts and the know-how of the Chinese market, with some of the most demanding customers in the world play a vital role. With more than 30 vehicles in our launch pipeline over the next 18 months, we expect those cars combined to run into an additional million vehicles on the road with ECARX technology.