So-Young International (SY)
NASDAQ:SY
Earnings Data
Report Date
May 25, 2026Before Open (Not Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.11Last Year’s EPS
-0.06Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted a clear strategic inflection: rapid, market-leading expansion and strong demand in the branded aesthetic center business (substantial revenue growth, treatment volume gains, network scale, physician hiring and supply-chain arrangements). Those operational and commercial positives are tempered by short-term pains from rapid scaling — higher cost of revenues, declines in legacy platform/product segments, a wider non-GAAP loss, an impairment charge and lower cash versus prior year. Management provided guidance and a path to balance growth with profitability in 2026, signaling confidence in margin recovery as centers mature. Overall, the operational momentum and material improvement in GAAP loss outweigh the near-term financial headwinds.Company Guidance
Quarterly Revenue Growth and Record High
Total Q4 revenue reached RMB 451 million, up ~25% year-over-year, marking a record high quarterly revenue and reflecting strong demand recovery.
Aesthetic Center Business Became Primary Growth Engine
Aesthetic treatment services revenue was RMB 248.1 million, up 205.3% year-over-year, crossing the 50% revenue contribution threshold and becoming the largest segment for the first time.
Rapid Network Expansion and Market Leadership by Center Count
Opened 49 So-Young clinics by year-end 2025 (net +10 in Q4), ranking first nationwide by center count and surpassing the 50-center milestone in early 2026.
Strong Treatment Volume and User Base Growth
Verified treatment visits exceeded 125,000 in Q4 (up 178% YoY); verified aesthetic treatments performed exceeded 289,400 (up 168% YoY); total active users surpassed 170,000.
Improving Unit Economics at Center Level
17 mature centers generated RMB 102.5 million (~RMB 8.4 million per mature center); 19 growth centers generated RMB 89 million (~RMB 4.7 million per center). 25 centers achieved profitability and 39 centers generated positive operating cash flow in Q4.
Physician Team Expansion and Clinical Capability
Full-time physician headcount grew to 211 (up 41% from end of Q3); all physicians have public hospital backgrounds, >6 years average clinical experience for the team, and >6,200 treatments per physician for those with ≥1 year at So-Young, supporting trust and service quality.
Supply Chain Scale and Product Mix Strength
Partnered with 18 top-tier device suppliers (nearly 1,400 devices procured) and 42 upstream injectables partners with cumulative procurement of >700,000 units; blockbuster products accounted for over 37% of aesthetic revenue in Q4.
Marketing/Brand Campaign Successes
Q4 co-branded campaigns generated ~2 million on-site visits and ~40 million total exposures, driving offline brand validation in high-end malls and improved conversion for flagship treatments.
Improved Loss Metrics and Solid Cash Runway
Net loss attributable to So-Young improved to RMB 108.8 million (vs. RMB 607.6 million prior-year period); basic and diluted loss per ADS improved to RMB 1.08 (vs. RMB 5.92). Cash, cash equivalents and short-term investments totaled RMB 936.4 million to fund expansion.
Confident 2026 Outlook and Growth-Plus-Profitability Plan
Guidance for Q4 2026 aesthetic treatment services revenue of RMB 258–278 million (up 171.2%–181.3% YoY) and a plan to open no fewer than 35 new centers in 2026 while shifting focus to improved gross margins and profitability.
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 |
|---|---|---|---|
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% |
May 16, 2025 | $0.81 | $0.82 | +1.23% |
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 May 25, 2026, Before Open (Not Confirmed).
What is So-Young International (SY) earnings time?
So-Young International (SY) earnings time is at May 25, 2026, Before Open (Not Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SY EPS forecast?
SY EPS forecast for the fiscal quarter 2026 (Q1) is -0.11.