Here Group Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 39.4% quarter-over-quarter to RMB 177.3 million, driven by flagship IPs and offline expansion. Gross margin declined to 31% due to channel mix, but adjusted net loss narrowed. Q3 guidance reflects seasonality, with new product launches expected to drive future growth.
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Revenue more than doubled quarter over quarter to CNY 127.1 million, driven by strong POPTOY sales and expanding gross margin. Guidance for FY2026 is CNY 750–800 million, with profitability expected to improve as scale and cost optimizations progress.
Fiscal Year 2025
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Q4 FY2025 saw strong revenue and profit growth, driven by the property business and successful IP launches. Strategic restructuring will focus resources on the high-growth property segment, with robust guidance for FY2026 and ongoing international expansion.
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Q3 FY2025 revenue fell 39.6% year-over-year to RMB 570.7 million amid a strategic shift to product-driven growth. The LICE1 acquisition positions the company in the high-growth pop toy market, with full profit consolidation and significant revenue contribution expected in Q4.
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Q2 FY2025 revenue fell 25.9% year-over-year to RMB 726.6 million, while net income rose to RMB 126.8 million as the company shifted to higher-quality growth and expanded into the silver economy. Consumer business revenue grew 39%, and cash reserves increased to RMB 1,213.82 million.
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Revenue declined 6.8% year-over-year as the business pivots to the silver economy, but profitability and cash flow remain strong. Strategic investments in wellness products and offline engagement are driving user retention, with a special dividend reflecting robust financial health.
Fiscal Year 2024
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Q4 FY2024 revenue grew 20.7% year-over-year to RMB 1,001 million, with adjusted net income hitting a record RMB 193.6 million. The company is pivoting to the silver economy, leveraging a robust user base and expanding into wellness e-commerce and offline services.
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Q3 FY2024 saw 17.1% revenue growth year-over-year, driven by expanded elderly-focused courses and strong user engagement. Gross billings rose 22.1%, and new e-commerce and overseas initiatives were launched, with Q4 revenue expected to grow up to 12.3%.