Melexis turns China and robotics wins into Q3 growth
Sales and margins improved as automotive inventories normalised, while a BYD agreement and earlier robotics production offer new growth evidence without disclosed contract values.
Melexis designs sensors and driver chips used mainly in vehicles. Third-quarter sales rose 4% year on year and 3% sequentially to €223.7m. Gross profit increased 9% to €91.1m, lifting the gross margin to 40.7%. Operating profit rose 9% to €41.3m, equal to 18.5% of sales.
Management says customer inventories have normalised and automotive demand is growing through higher semiconductor content. The company also signed a master purchase agreement with BYD and reported its highest-ever quarterly sales in China. Orders for the fourth quarter point to another increase, while Melexis has started producing its first chip through a localised manufacturing model in China.
Outside automotive, robotics designs entered customer production earlier than expected. That is useful evidence that Melexis can extend sensing products into physical AI, but the release does not quantify robotics revenue, volumes or the value of the BYD agreement. The commercial claims therefore show direction rather than the eventual size of either opportunity.
Melexis kept its second-half outlook unchanged: sales of €445m to €455m, a gross margin around 41% and an operating margin around 18%, based on EUR/USD at 1.12. With first-nine-month sales up only 3%, the stronger third quarter is an early improvement rather than a completed acceleration. The next checks are whether China orders convert into sales and whether robotics volumes become material enough to disclose.
Sources
- Melexis Q3 2026 results Published
- Melexis Q2 and first-half 2026 results Published