NASDAQ$SY
So-Young International Inc · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
So-Young swings to loss as branded-center expansion weighs on margins
So-Young International reported Q3 2025 total revenue of RMB386.7 million (US$54.3 million), up 4.0% from RMB371.8 million a year ago. Aesthetic treatment services revenue surged to RMB183.6 million from RMB45.4 million, exceeding guidance, but the company posted a net loss attributable to shareholders of RMB64.3 million versus net income of RMB20.3 million in Q3 2024. Non-GAAP net loss was RMB61.6 million. Verified treatment visits at branded aesthetic centers exceeded 89,800 in the quarter.
- Total revenue rose 4.0% to RMB386.7M; aesthetic treatment services revenue jumped to RMB183.6M, above guidance.
- Net loss attributable to So-Young was RMB64.3M (US$9.0M) versus net income of RMB20.3M in Q3 2024.
- Non-GAAP net loss was RMB61.6M compared with non-GAAP net income of RMB22.2M a year earlier.
- Verified treatment visits at branded centers exceeded 89,800 in the quarter.
- Q4 2025 aesthetic treatment services revenue is guided to RMB216.0M–RMB226.0M, up 166–178% year over year.
Headline financials
Revenue & EPS history
So-Young · Revenue · Quarterly
¥387M
Revenue by segment
So-Young · ¥433M total across 4 segments · Q1 2026
- Aesthetic treatment services¥282M—65.3%
- Information and reservation services¥80.3M—18.6%
- Sales of medical products and maintenance services¥57.1M—13.2%
- Other services¥12.9M—3.0%
Forward guidance
For Q4 2025, So-Young expects aesthetic treatment services revenue of RMB216.0M–RMB226.0M (US$30.3M–US$31.7M), representing 165.8%–178.1% growth versus Q4 2024.
Tailwinds
- Branded-center rollout driving triple-digit aesthetic services revenue growth outlook
Headwinds
- Near-term profitability remains pressured as expansion investments continue
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
-2.1%
Avg return
Earnings day
-3.5%
Avg return
5 days after
-4.5%
Avg return
30 days after
43%
12 / 28 earnings
Positive
+23.6%
Q4 2022
Best reaction
-27.7%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q4 2025 | +9.6% | -11.0% | -6.5% | |
| Q3 2025 | -8.4% | -17.2% | -23.2% | |
| Q2 2025 | -22.7% | -16.1% | -22.1% | |
| Q1 2025 | +1.4% | +7.3% | +18.4% | |
| Q4 2024 | -9.6% | -5.3% | -13.7% | |
| Q3 2024 | +1.0% | -2.4% | -13.5% | |
| Q2 2024 | -4.6% | +0.6% | -16.6% | |
| Q1 2024 | -1.9% | +1.9% | +0.0% | |
| Q4 2023 | +0.0% | +1.0% | +11.5% | |
| Q3 2023 | +6.0% | +0.9% | +6.8% | |
| Q2 2023 | +10.7% | +9.9% | -6.6% | |
| Q1 2023 | -9.3% | -10.9% | -20.2% | |
| Q4 2022 | +23.6% | +31.5% | +64.5% | |
| Q3 2022 | +6.5% | +6.6% | +80.3% | |
| Q2 2022 | -6.2% | -13.7% | -2.2% | |
| Q1 2022 | -13.0% | +2.6% | -20.6% | |
| Q4 2021 | -5.9% | -5.0% | -33.9% | |
| Q3 2021 | +7.1% | -4.4% | -26.4% | |
| Q2 2021 | -9.2% | -10.6% | -16.2% | |
| Q1 2021 | -4.3% | +0.7% | +2.3% | |
| Q4 2020 | -16.5% | -19.9% | -24.0% | |
| Q3 2020 | -10.3% | -16.1% | -24.9% | |
| Q2 2020 | +6.9% | +2.2% | +0.0% | |
| Q1 2020 | +1.5% | -12.1% | -3.9% | |
| Q4 2019 | +12.8% | +15.1% | +18.4% | |
| Q3 2019 | -2.2% | -4.3% | +1.0% | |
| Q2 2019 | -27.7% | -33.4% | -43.0% | |
| Q1 2019 | +6.7% | +5.5% | -10.5% | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — |
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