Metax Reports Q3 2026 Financial Results with Profitable Growth
Metax released its financial results for the first three quarters of 2026, reporting a total operating revenue of 2.824 billion yuan and turning a net profit of 639 million yuan year-over-year. For the third quarter alone, the company achieved an operating revenue of 1.5 billion yuan, representing a significant 367.12% increase compared to the same period last year. This financial report highlights the rapid commercial growth and strong market demand for domestic high-performance GPU and AI hardware makers amid ongoing localization trends. It underscores a critical inflection point where leading domestic chip designers are successfully scaling operations and achieving sustainable profitability. During the first three quarters of 2026, Metax recorded a robust gross profit margin of 54.99% and invested 828 million yuan in research and development, accounting for 29.33% of revenue. However, operating cash flow dropped to -1.338 billion yuan due to increased procurement and inventory building as the company accelerates its production ramp-up.
## BACKGROUND
Metax is a leading domestic high-performance GPU enterprise that focuses on developing full-stack high-performance GPU chips and computing platforms for AI training, inference, and scientific computing. High-performance GPUs have become essential hardware components powering modern artificial intelligence workloads and large language model training.