Here Group Posts Strong Q2 FY2026 Pop Toy Revenue Growth as It Completes Pivot to IP Trend Model

The latest announcement is out from Here Group ( (HERE) ).

Here Group Limited reported unaudited results on March 12, 2026 for the second quarter of its 2026 fiscal year, covering the period from October 1 to December 31, 2025, with revenue rising 39.4% quarter-on-quarter to RMB177.3 million, driven solely by its high-growth pop toy business. The company remained loss-making, posting a net loss from continuing operations of RMB25.4 million and an adjusted net loss of RMB16.1 million, as it continued to invest in sales, marketing, and IP development while absorbing lower margins from a strategic push into offline retail channels following the disposal of its legacy businesses in September 2025.

Management emphasized that the second quarter marked the first full period operating as a fully independent IP trend company and highlighted ongoing cost-structure refinements to align with its asset-light, high-value-added model. The firm forecast pop toy revenues of RMB140 million to RMB150 million for the third fiscal quarter and RMB750 million to RMB800 million for the full fiscal year ending June 30, 2026, while also disclosing that it had repurchased 1.7 million ADSs for US$10.8 million under a US$20 million buyback program in place through June 2026, underscoring confidence in its long-term growth prospects despite current losses.

The most recent analyst rating on (HERE) stock is a Hold with a $4.50 price target. To see the full list of analyst forecasts on Here Group stock, see the HERE Stock Forecast page.

Spark’s Take on HERE Stock

According to Spark, TipRanks’ AI Analyst, HERE is a Neutral.

The overall stock score of 58 reflects a combination of mixed financial performance and technical indicators, offset by a strong earnings call and attractive valuation. The company’s operational challenges and recent financial volatility are significant concerns, but the positive earnings outlook and strategic initiatives provide a counterbalance.

To see Spark’s full report on HERE stock, click here.

More about Here Group

Here Group Limited is a China-based IP-focused pop toy company listed on Nasdaq, specializing in the design and commercialization of character-based collectibles and related trend-driven products. Its portfolio comprised 18 intellectual properties as of December 31, 2025, including 11 proprietary and a mix of exclusive and non-exclusive licensed IPs, and it is shifting toward an asset-light, IP-centric business model with expanding offline and online sales channels aimed at the global pop culture and collectibles market.

Average Trading Volume: 131,385

Technical Sentiment Signal: Sell

Current Market Cap: $242.6M

For an in-depth examination of HERE stock, go to TipRanks’ Overview page.