So-Young International (SY)
NASDAQ:SY
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Earnings Data
Report Date
Aug 13, 2026Before Open (Not Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.09Last Year’s EPS
-0.07Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated strong operational and top-line momentum driven by rapid expansion of the branded clinic network, substantial increases in aesthetic center revenue (+~186% YoY), improving clinic-level margins (27% gross margin, +8.4 pp YoY), rising treatment volumes and growing core membership. Management reinforced clinical, supply-chain and training investments and provided confident near-term guidance. Offsetting these positives are widened consolidated net losses, rising cost of revenue and elevated operating expenses tied to expansion, modest declines in non-clinic segments, and a slightly reduced cash balance after funding growth initiatives. On balance the substantive revenue and margin progress at the core clinic business and forward guidance materially outweigh near-term profitability and cash draws tied to scaling.Company Guidance
Strong Top-Line Growth
Total revenue for Q1 2026 was RMB 432.8–433 million, up ~45.6% year-over-year, driven by branded aesthetic center expansion and supply-chain momentum.
Aesthetic Center Revenue Surge
Revenue from aesthetic treatment services reached RMB 282.4 million, up ~185.8% year-over-year, accounting for over 65% of total revenue and marking the high end of guidance for the fourth consecutive quarter.
Rapid Treatment Volume and User Growth
Verified treatment visits exceeded 148,000 (up ~172% YoY) and verified treatments performed exceeded 325,000 (up ~164% YoY). Active user base grew to ~310,000 by March-end and Level 3+ core members exceeded 63,000.
Per-Center Economics and Scale Progress
As of quarter end management reported operating clinics between 54 and 59 (transcript variation); mature-phase centers generated ~RMB 150 million total (~RMB 7.5M per mature center), growth-phase ~RMB 109.5M (~RMB 4.8M per center) and ramp-up centers ~RMB 22.9M (~RMB 2.1M per center). Number of profitable centers rose to 41 and 48 centers generated positive operating cash flow.
Improving Margins at Clinic Business
Aesthetic center business gross margin reached 27%, with segment gross margin expanding by 8.4 percentage points year-over-year and 3.3 percentage points quarter-over-quarter, reflecting operating efficiency gains.
Product & Supply-Chain Wins (Blockbusters & Proprietary Products)
Revenue from blockbuster products contributed ~41% of Q1 revenue, with strong demand for BBL and thermage. Company launched new proprietary collagen and skin booster products via upstream partnerships (e.g., Jinbo Biopharmaceutical) and expanded its 'Green Label' compliant product system.
Operational & Clinical Capability Investments
Established a medical R&D and physician training center and a centralized safety/compliance control center; full-time physicians increased to ~230 (up ~9% from year-end 2025); physician-led consultation policy and digital diagnosis initiatives were deployed to improve quality and conversion.
Confident Near-Term Guidance
For Q2 2026 the company expects aesthetic treatment service revenues of RMB 307–317 million, implying year-over-year growth of ~112.6%–119.5% — signaling continued confidence in the branded clinic growth trajectory.
SY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 22, 2026 | $2.67 | $2.23 | -16.48% |
Mar 25, 2026 | $2.91 | $3.19 | +9.62% |
Nov 17, 2025 | $3.67 | $3.36 | -8.45% |
Aug 15, 2025 | $4.84 | $3.74 | -22.73% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does So-Young International (SY) report earnings?
So-Young International (SY) is schdueled to report earning on Aug 13, 2026, Before Open (Not Confirmed).
What is So-Young International (SY) earnings time?
So-Young International (SY) earnings time is at Aug 13, 2026, Before Open (Not Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is SY EPS forecast?
SY EPS forecast for the fiscal quarter 2026 (Q2) is -0.09.