WeRide reported CN¥88.3M of remaining performance obligations at 31 Dec 2024, down 67% from a year earlier. That is 0.2 years of trailing revenue already under contract.
Over the last twelve months it turned about 137% of its opening backlog into revenue (12-month conversion).
Twelve-month book-to-bill: 0.51, i.e. 0.51 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -56 points — revenue is catching up with orders.
The latest filed figure is more than 200 days old.
WeRide backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in CNY. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
31 Dec 2024
CN¥88.3M
CN¥361M
0.2 yrs
n/a
31 Dec 2023
CN¥264M
CN¥402M
0.7 yrs
n/a
31 Dec 2022
CN¥402M
CN¥528M
0.8 yrs
n/a
Questions
What is WeRide's backlog?
WeRide reported CN¥88.3M of remaining performance obligations at 31 Dec 2024, down 67% from a year earlier. That is 0.2 years of trailing revenue already under contract.
How fast does WeRide's backlog turn into revenue?
Over the last twelve months WeRide recognised revenue equal to about 137% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.