Unitree's Q3: revenue up 70%, profit down 17% — and store prices still unchanged
Unitree’s third-quarter report, as covered in late-October industry roundups, is the first full-quarter read on the company since its Shanghai debut. The reported figures (unaudited):
- Revenue: 665 million yuan (about $94 million), up 69.9% year over year.
- Net profit attributable to shareholders: 112.7 million yuan (about $16 million), down 17.4%.
- R&D spend: 127 million yuan (about $18 million), up roughly 250% and equal to 19.1% of revenue.
What it says about pricing
Revenue grew much faster than the profit line fell, and the R&D increase more than explains the gap. That is a company choosing to invest rather than one squeezed by discounting. Unit shipments and average selling prices were not reported, so nothing here proves or disproves a price war.
What we can check is the shelf. Unitree’s own store still lists the G1 from $13,500 for the base configuration, and the Go2 range runs from the $1,600 Air upward. The R1 remains the cheapest full humanoid on open sale, after the China-market cut to 29,900 CNY earlier this year. We saw the same pattern in September: the stock moves, the price tags don’t.
Our read
If you are buying, the earnings do not change the math. Cuts came before the IPO (see the pre-IPO round), and the quarter shows no sign of a further round. EDU configurations, which carry most of the margin, still sit at multiples of the entry price. See the full Unitree price guide and the maker page for every configuration we track.
We will update the index if a store price changes; none did this month.
Sources
Primary sources referenced in this article. Prices in the tables come from the live index and carry their own as-of dates.
- Unitree Robotics: Unitree G1 — official store page (shop.unitree.com)
- Unitree Robotics: Unitree R1 — official store page (shop.unitree.com)
- Unitree Robotics: Unitree Go2 — official store page (shop.unitree.com)