NASDAQ$SY
So-Young International Inc · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
So-Young Q4 revenue up 25% to RMB461M as clinic network scales to 49 centers
So-Young International reported unaudited Q4 and full-year 2025 results. Fourth-quarter total revenues rose 24.8% to RMB460.7 million (US$65.9 million), driven by branded aesthetic center expansion, while net loss attributable to So-Young narrowed to RMB108.8 million from RMB607.6 million in Q4 2024 (which included RMB540 million goodwill impairment). Non-GAAP net loss was RMB93.4 million versus RMB53.2 million a year ago. Aesthetic treatment services revenue surged 205.3% to RMB248.1 million, exceeding prior guidance, while information and reservation services fell 26.8% to RMB125.7 million. The company operated 49 branded centers across 15 cities; 25 achieved center-level profitability in the quarter. Fiscal 2025 revenue was RMB1,523.4 million with a net loss of RMB242.3 million.
- Q4 revenues were RMB460.7 million (+24.8% YoY); aesthetic treatment services revenue was RMB248.1 million (+205.3%), beating guidance.
- Q4 net loss attributable to So-Young was RMB108.8 million versus RMB607.6 million prior year; non-GAAP net loss was RMB93.4 million.
- Verified treatment visits exceeded 125,000 (+178% YoY); 49 operating centers with 25 profitable in Q4 and 39 generating positive operating cash flow.
- Platform information and reservation revenue declined 26.8% to RMB125.7 million as subscribing providers decreased.
- Fiscal 2025 revenue was RMB1,523.4 million (+3.9% YoY) with net loss of RMB242.3 million; share repurchase program extended through March 2027.
Headline financials
Revenue & EPS history
So-Young · Revenue · Quarterly
¥461M
Revenue by segment
So-Young · ¥461M total across 4 segments · Q4 2025
- Aesthetic treatment services¥248M—53.8%
- Information and reservation services¥126M—27.3%
- Sales of medical products and maintenance services¥69.3M—15.0%
- Other services¥17.7M—3.8%
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 Q4 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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