Zepp Health Earnings Call Transcripts
Fiscal Year 2025
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Delivered strong revenue and margin growth in 2025, driven by premium product expansion and disciplined cost management. Guidance for Q1 2026 anticipates 30%-43% year-over-year revenue growth, with further margin improvement expected as premium mix scales.
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Q3 2025 saw 78.5% revenue growth, operating break-even, and strong sales across premium and entry-level products. Gross margin improved sequentially, and Q4 revenue is guided up 38%-45% year-over-year, with robust product launches and continued margin expansion expected.
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Revenue grew 46% YoY to $59.4M, driven by Amazfit brand and new product launches. Gross margin held at 36.2%, with Q3 revenue guidance of $72–$76M and margin expansion expected. Supply chain diversification and debt refinancing improved resilience.
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Q1 2025 saw 10% year-over-year revenue growth, driven by strong Amazfit product sales and successful new launches. Gross margin improved to 37.3%, and Q2 revenue is projected to grow 23%-35% year-over-year, with continued cost control and supply chain diversification.
Fiscal Year 2024
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Q4 2024 saw over 40% sequential sales growth and gross margin expansion to 38.5%, driven by new AI-powered products and a shift to self-branded sales. Despite a full-year revenue decline, 2025 guidance points to double-digit growth, continued product launches, and ongoing share buybacks.
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Q3 saw record gross margin and 10% sequential growth in self-branded sales, despite supply constraints on the T-Rex 3 smartwatch and FX headwinds. Q4 guidance projects 29–65% revenue growth, driven by strong demand, new launches, and improved cost management.
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Q2 2024 saw record gross margin and sequential growth in self-branded products, offsetting declines elsewhere. Net loss narrowed 15% year-over-year, with strong cost control and a robust cash position. New AI-driven products and global marketing are expected to drive further growth.