What is the revenue and EPS growth rate for ATRenew year over year?

What does ATRenew do and what are its main business segments?

Did ATRenew beat or miss consensus estimates last quarter?

What were the key takeaways from ATRenew's earnings call?

What is ATRenew's gross profit margin?

What is ATRenew's latest dividend and current dividend yield?

What factors drove the changes in ATRenew's revenue and profit?

What is the market's earnings forecast for ATRenew next quarter?

- **Record Q4 Growth**: 29% YoY revenue to RMB 6.25 billion, with non-GAAP operating profit up 38.1% to RMB 180 million.
- **1P Retail Dominance**: 1P to C retail revenue at 41.7% of product mix, driving 88% YoY growth.
- **Overseas Expansion**: Export revenue peaks at RMB 50 million/month, with integrated inventory system.
- **Multi-Category Surge**: GMV up 125.7% YoY, gold recycling GMV +136.3% YoY.
- **2026 Outlook**: Q1 revenue guidance of RMB 5.86-5.96 billion (25.9%-28.1% YoY growth).
- **Automation & Efficiency**: 30% cost reduction in quality inspection via automation, targeting non-GAAP margin expansion.

**【CEO Summary Section】**
- **Q4 2025 Performance**: Total net revenue reached RMB 6.25 billion (29% YoY growth), with non-GAAP operating profit of RMB 180 million (38.1% YoY). Full-year 2025 revenue was RMB 21.05 billion (28.9% YoY), and non-GAAP operating profit was RMB 560 million (35.5% YoY). Both exceeded internal expectations.
- **1P Strategy Success**: 1P to C retail revenue grew 88% YoY, accounting for 41.7% of total product revenue. Combined refurbishment product revenue surged 90.8% YoY, driven by on-demand refurbishment (32% of phone refurbishment revenue).
- **Offline Expansion**: Expanded to 2,195 AHS stores and 2,154 to-door service members, with offline fulfillment for JD.com trade-in programs increasing.
- **Overseas Growth**: Self-operated export channels achieved sequential growth for 4 consecutive quarters, with peak monthly revenue reaching RMB 50 million.
- **Multi-Category Recycling**: GMV rose 125.7% YoY, including 136.3% growth in gold recycling and 1.2ppt QoQ expansion in luxury goods take rate.
- **2026 Strategy**: Focus on 3 stages—solidifying core business, strengthening AHS Recycle brand, and international expansion. Target 5,000 stores long-term, with flexible store openings based on online traffic growth.

**【CFO Financial Commentary】**
- **Q4 2025 Financials**: GAAP net income of RMB 180 million (38.1% YoY growth). Non-GAAP operating margin improved to 2.9% (from 2.7% YoY). Full-year non-GAAP operating margin was 2.6% (up 13bps YoY).
- **Revenue Breakdown**: Net product revenue RMB 8.3 billion (30.7% YoY), service revenue RMB 420 million (8.8% YoY). Multi-category recycling contributed 18.8% of service revenue.
- **Cost Efficiency**: Fulfillment expenses as % of revenue decreased to 7.7% (from 8.1% YoY). 1P gross margin improved to 13.7% (from 12.5% YoY) due to higher-margin retail sales.
- **Expense Management**: Selling & marketing expenses increased 44.1% YoY (RMB 460 million), driven by commission fees. G&A expenses decreased 25.6% YoY (RMB 57.6 million).
- **Q1 2026 Outlook**: Revenue expected between RMB 5.86 billion and RMB 5.96 billion (25.9%-28.1% YoY growth).

**【Q&A Highlights】**
- **Impact of Rising Device Prices**: Apple's market share growth benefits pre-owned industry. ATRenew plans to use 2C retail prices as benchmark for trade-in pricing to drive supply sourcing.
- **Store Expansion**: Target flexible store openings in lower-tier cities via franchisees, with focus on multi-category services. Maintain 5,000-store long-term goal.
- **Long-Term Margin Improvements**: Automation (30% cost reduction in quality inspection) and scale economies expected to drive non-GAAP operating margin expansion. Selling & marketing expenses to remain disciplined as industry matures.

ATRenew Inc. (RERE) Q4 2025 Earnings Call Transcript

- **Revenue Surge**: Q3 revenue hit RMB 5.15 billion (+27.1% YoY), driven by 1P product growth (+28.7%) and multi-category expansion.
- **Profit Margin Expansion**: Non-GAAP operating profit up 34.9% to RMB 140 million, with margin improving to 2.7%.
- **Trade-in Dominance**: 1P2C revenue占比 jumps to 36.4%, reflecting strong retail channel diversification.
- **Global Ambitions**: Monthly exports exceed 10,000 units, with plans to replicate PJT Marketplace internationally.
- **Sustainability Milestone**: Earthshot Prize finalist for circular economy leadership.

**【CEO Summary Section】**
- **Revenue Growth**: Total net revenue reached RMB 5.15 billion, up 27.1% YoY. 1P product revenue rose 28.7% to RMB 4.73 billion, while 3P platform service revenue increased 11.6% to RMB 420 million.
- **Profitability**: Non-GAAP operating profit reached RMB 140 million (34.9% YoY growth), with margin at 2.7%.
- **Trade-in Expansion**: 1P2C revenue surged 70% YoY, accounting for 36.4% of product revenue. AHS Recycle store network expanded to 2,195 locations, with 88% equipped for multi-category services.
- **International Strategy**: Monthly exports of China-sourced devices exceeded 10,000 units, targeting global expansion through PJT Marketplace.
- **Sustainability Recognition**: Named a finalist for the Earthshot Prize for circular economy contributions.

**【CFO Financial Commentary】**
- **Revenue Breakdown**: Net product revenue up 28.7%, service revenue up 11.6%. Marketplace take rate 4.89%, with multi-category services contributing RMB 53 million (12.5% of service revenue).
- **Gross Margin**: 1P gross margin improved to 13.4% (from 11.7%), driven by retail channel diversification.
- **Expense Management**: Fulfillment expenses rose 25.9% but margin decreased to 8.4%. S&M expenses up 15.4%, G&A up 6.9%.
- **Q4 Guidance**: Revenue expected between RMB 6.08 billion and RMB 6.18 billion (25.4%-27.4% YoY growth). Full-year 2025 revenue projected at RMB 20.87-20.97 billion (27.8%-28.5% YoY).

**【Q&A Highlights】**
- **Trade-in Impact**: National subsidies limited to devices under RMB 6,000, but AHS Recycle achieved >10% trade-in penetration on JD.com. Trade-in programs drive upgrades and protect brand pricing.
- **Store Expansion**: Focus on quality over quantity, with 88% self-operated stores offering multi-category services. Franchisee expansion in mid/lower-tier cities.
- **Multi-Category Growth**: Gold recycling and luxury goods dominate multi-category, with take rates optimized for user value. Consignment model in Paipai grew 180% YoY.
- **2026 Outlook**: Maintain rapid growth through trade-in penetration, brand strength, and supply chain efficiency.

ATRenew Inc. (RERE) Q3 2025 Earnings Call Transcript

- **Revenue Surges 32.2% YoY**: Q2 2025 revenue of RMB 4.99 billion driven by 1P product growth (34% YoY) and strategic trade-in programs.
- **Green Wallet Initiative**: Launches rewards program to promote eco-friendly recycling, aligning with ESG goals of 35% Scope 1/2 and 50% Scope 3 emission reductions by 2030.
- **Shareholder Returns**: 3-year program to return 60% of non-GAAP net profit via dividends or buybacks, with RMB 2.35 billion in cash reserves.
- **Q3 Guidance**: Targets RMB 5.05-5.15 billion (24.7-27.1% YoY), capitalizing on new device launches and brand partnerships.

**【CEO Summary Section】**
- Total revenue reached RMB 4.99 billion (32.2% YoY), exceeding guidance, driven by 1P product revenue growth (34% YoY) and 3P service revenue (15.4% YoY). Non-GAAP operating profit margin was 2.4%, meeting full-year target.
- Strategic goals: 1) Strengthen trade-in programs with JD.com and Apple; 2) Expand AHS Recycle as China's top recycling brand; 3) Build a closed-loop ecosystem for sustainable consumption. Launched AHS Recycle Green Wallet to reward users for eco-friendly actions.
- 3-year shareholder return program: Committing to return 60% of annual non-GAAP net profit via dividends or share buybacks from 2025-2027.
- ESG progress: Set targets to reduce Scope 1/2 emissions by 35% and Scope 3 by 50% by 2030.

**【CFO Financial Commentary】**
- Net product revenue: RMB 4.56 billion (34% YoY), driven by refurbished products (13.5% of 1P revenue) and P2C retail growth (63.7% YoY).
- Net service revenue: RMB 430 million (15.4% YoY), with multi-category recycling contributing RMB 63 million (14.7% of service revenue).
- Operating expenses: Fulfillment (RMB 410 million, 27.3% YoY), selling/marketing (RMB 390 million, 36.7% YoY), and tech/content (RMB 58.2 million, 33.2% YoY). Non-GAAP operating profit: RMB 120 million (2.4% margin).
- Cash reserves: RMB 2.35 billion, supporting business growth and shareholder returns.
- Q3 2025 guidance: Revenue RMB 5.05-5.15 billion (24.7-27.1% YoY).

**【Q&A Highlights】**
- **Growth Expectations**: Confident in meeting full-year targets despite high Q3 2024 base (home appliance subsidies). Focus on new device launches and brand partnerships.
- **Trade-in Activity**: Smartphones dominate C2B recycling, with 80% offline fulfillment adoption. National subsidies and brand co-promotions drive growth.
- **Apple Business**: Profitable since Q1 2024, contributing steady revenue. Expanding partnerships with Xiaomi, Honor, DJI.
- **International Expansion**: Exploring overseas opportunities, with updates expected next quarter.

ATRenew Inc. (RERE) Q2 2025 Earnings Call Transcript

- **Revenue Growth**: Q1 2025 revenue up 27.5% YoY to RMB 4,653.5 million, driven by 28.8% YoY 1P business expansion and 73.5% YoY 1P2C retail growth.
- **Gross Margin Improvement**: 1P gross margin rose to 15.2% (from 10.9% YoY) due to optimized trade-in programs and refurbishment capabilities.
- **Store Expansion**: 458 net new stores (total 1,886) and 360% increase in door-to-door fulfillment team to 1,000.
- **Subsidy Impact**: National trade-in subsidies (RMB 500 cap) complement AHS’s RMB 1,500 recycling price, driving 50%+ YoY C2B recycling growth.
- **Q2 Guidance**: Revenue expected RMB 4,710-4,801 million (24.7%-27.4% YoY growth).

**【CEO Summary Section】**
- Total net revenue for Q1 2025 grew 27.5% YoY to RMB 4,653.5 million, exceeding high-end guidance. Non-GAAP operating income rose 39.5% YoY to RMB 110 million, with operating margin at 2.4%.
- 1P business revenue increased 28.8% YoY, driven by 50%+ growth in product revenue and 73.5% growth in 1P2C retail sales. AHS Recycle stores expanded by 458 net units to 1,886 total, with 917 self-operated stores.
- Strategic partnership with JD.com enhanced trade-in fulfillment, reducing barriers to national subsidies. Offline flagship store in Shenzhen showcased 10,000 refurbished devices, reducing restocking cycles from 3-5 days to same-day.
- Brand marketing initiatives, including Earth Day campaigns with 12 consumer brands, boosted AHS mini program and official website product revenue growth above overall 1P business.

**【CFO Financial Commentary】**
- Net product revenue rose 28.8% YoY to RMB 4,260 million, while service revenue increased 14.2% YoY to RMB 390 million, with multi-category recycling contributing 13.3% of service revenue (vs. 5.6% YoY).
- 1P gross margin improved to 15.2% (from 10.9% YoY), driven by optimized Apple trade-in program and compliant refurbishment capabilities.
- Non-GAAP operating expenses: fulfillment (+40.2%), selling/marketing (+72.8%), G&A (+2.2%), tech/content (+16.5%). Operating profit margin expanded 0.2% YoY to 2.4%.
- Q2 2025 revenue guidance: RMB 4,710-4,801 million (24.7%-27.4% YoY growth). Share repurchase program remains active, with RMB 27.1 million repurchased year-to-date.

**【Q&A Highlights】**
- **National Subsidies Impact**: Mobile phone trade-in subsidies (RMB 500 cap) complement AHS’s average RMB 1,500 recycling price, driving 50%+ YoY growth in C2B recycling. Q1 smartphone shipments up 9% YoY, with JD.com platform sales momentum.
- **Store Expansion**: 458 net new AHS Recycle stores (917 self-operated, 969 joint-operated) as of Q1. Door-to-door fulfillment team expanded by 360 to 1,000, improving user satisfaction.
- **Marketing ROI**: Increased ad spend and influencer partnerships boosted AHS mini program and website product revenue growth above 1P business. Brand awareness campaigns with 12 consumer brands during Earth Day drove offline engagement.

ATRenew (RERE) Q1 2025 Earnings Call Transcript

- **Revenue Surge**: Q4 2024 revenue up 25.2% YoY to RMB4.85 billion, driven by 1P business expansion and multi-category recycling growth (8.6% of service revenue).
- **Profitability Boost**: Non-GAAP operating income rose 62.8% YoY to RMB410 million, with 1P gross margin improving to 12.5%.
- **AI Integration**: Deploying AI in quality inspection and customer service to enhance efficiency, targeting long-term growth from AI hardware trends.
- **2025 Growth Plan**: 800 new stores and 1,000 two-door staff additions, leveraging subsidies for 70% YoY C2C recycling growth during Chinese New Year.
- **Shareholder Returns**: $25.9 million repurchased to date, with plans to balance reinvestment and returns.

**【CEO Summary Section】**
- **Revenue Growth**: Q4 2024 revenue reached RMB4.85 billion, up 25.2% YoY, with full-year revenue of RMB16.33 billion (25.9% YoY). Non-GAAP operating income was RMB130 million in Q4 and RMB410 million annually, growing 61% and 62.8% YoY.
- **Strategic Initiatives**: Expanded 1P business, on-demand refurbishment pilot, and 29% retail revenue contribution in Q4. Multi-category recycling services grew nearly threefold YoY, contributing 8.6% of service revenue.
- **2025 Outlook**: Focus on user experience, brand building, and fulfillment. Target 5,000 stores and 5,000 two-door service staff. Leveraging national subsidies, C2C recycling grew 70% YoY during Chinese New Year.
- **AI Integration**: Deploying AI in quality inspection, customer service, and pricing to enhance efficiency and reduce costs.

**【CFO Financial Commentary】**
- **Financial Highlights**: Full-year GAAP operating income achieved, with non-GAAP operating margin at 2.5%. Q4 gross profit margin for 1P business improved to 12.5% from 10.6% YoY.
- **Expense Management**: Selling and marketing expenses increased 30% YoY in Q4, driven by new media campaigns. Fulfillment expenses rose 32.7% YoY, aligning with revenue growth.
- **Shareholder Returns**: Repurchased $5.8 million in Q4, totaling $25.9 million since program launch. Cash reserves of RMB2.9 billion support reinvestment and returns.
- **Q1 2025 Outlook**: Revenue expected between RMB4.55 billion and RMB4.65 billion (24.6%-27.4% YoY), reflecting strategic adjustments in Apple trading and overseas businesses.

**【Q&A Key Highlights】**
- **Growth Opportunities**: Management plans to add 800 stores and 1,000 two-door staff in 2025, leveraging subsidies to boost C2C recycling. AHS Recycle aims to capture 50% of 1PtoC sales by mid-term.
- **AI Adoption**: Expanding AI in quality inspection, customer service, and pricing. Anticipates long-term opportunities from AI-driven hardware renewal.
- **Capital Allocation**: Balanced approach to growth reinvestment and buybacks. Focus on brand building and fulfillment network expansion, with a target to maintain healthy margins.

Actual	-2.0847	-0.1163	-0.0991	-0.1561	-0.1164	-0.0267	-1.9172	-0.0451	-0.0551	-0.037	0.0028	-0.0803	-0.0083	0.0157	0.0657	0.0358	0.0614	0.0786	0.1159
Forecast		-0.0357	-0.0692	-0.0063	-0.0284	0.0225	0.0333	0.0306	0.0565	0.0164		0	-0.0261	0.0014	0.0466	0.0262	0.0488	0.0576	0.1001
Surprise	0.00%	-225.77%	-43.21%	-2377.78%	-309.86%	-218.67%	-5857.36%	-247.39%	-197.52%	-325.61%	0.00%	0.00%	+68.20%	+1021.43%	+40.99%	+36.64%	+25.82%	+36.46%	+15.78%

RERE

RERE fundamentals

RERE Q4 2025 Earnings

Earnings Call

You can ask Aime

RERE

RERE fundamentals

RERE Q4 2025 Earnings

Earnings Call

RERE Earnings Call Summary for Q4/20258:00 AM on Mar 11, 2026

RERE Earnings Call Summary for Q3/20257:00 AM on Nov 20, 2025

RERE Earnings Call Summary for Q2/20258:00 AM on Aug 20, 2025

RERE Earnings Call Summary for Q1/20258:00 AM on May 20, 2025

RERE Earnings Call Summary for Q4/20248:00 AM on Mar 11, 2025

You can ask Aime