Luckin Coffee Earnings Call Transcripts
Fiscal Year 2026
-
Second quarter net revenues grew 29% year-over-year to RMB 15.9 billion, with operating profit up 22% and net profit up 16%. Store count surpassed 36,000 globally, and customer engagement reached record highs, supporting continued market share gains and profitability improvement.
-
Q1 2026 saw 35% revenue growth to RMB 12B, robust store expansion, and strong customer gains. Operating profit and margins remained solid despite higher delivery costs, and a $300M share buyback was launched to enhance shareholder value.
Fiscal Year 2025
-
2025 saw robust revenue and profit growth, driven by aggressive store expansion, digital innovation, and product diversification, with over 31,000 stores globally and strong international progress. Near-term volatility is expected, but long-term growth confidence remains high.
-
Revenue grew 50% year-over-year to RMB 15.3 billion, with net profit at RMB 1.28 billion and record customer acquisition. Store count surpassed 29,000, but margins faced pressure from higher delivery costs as platform subsidies tapered. Focus remains on long-term growth and market share.
-
Q2 2025 saw 47% revenue growth to RMB 12.4B, record customer acquisition, and expanded margins. Store count surpassed 26,200, with strong domestic and international expansion, robust product innovation, and enhanced supply chain capacity.
-
Q1 2025 saw 41% revenue growth, operating profit rebound, and strong customer expansion, with over 24,000 stores and robust product innovation. Gross margin faces H2 pressure from higher coffee bean costs, but scale and efficiency are expected to help offset this.
Fiscal Year 2024
-
2024 saw 38% revenue growth and record customer additions, with Q4 operating profit up 368% year-over-year. Despite rising coffee bean costs and intensifying competition, strong supply chain and scale support continued expansion and margin gains.
-
Q3 2024 saw record revenue and profit, driven by rapid store expansion and strong product sales, with over 300 million cumulative customers and improved operating margins. Overseas growth continues, with Singapore losses narrowing and ongoing investment in supply chain and sustainability.
-
Q2 2024 saw 35.5% revenue growth and a return to healthy profit margins, with store count surpassing 20,000 and monthly transacting customers reaching a record high. Product innovation, digitalization, and supply chain investments drove performance amid intensifying competition.