NYSE$RLX
RLX Technology Inc-ADR · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
RLX Technology reported solid growth in Q3 2025 with strong international performance and higher profitability.
RLX Technology delivered strong Q3 results driven by significant growth in international markets, improved gross margins, and a rebound in its China business.
- Net revenues reached $158,628,000, primarily driven by international expansion.
- Net income came in at $29,053,000 under U.S. GAAP.
- International revenue accounted for 71.6% of total net revenues.
- Gross margin improved to 31.2% compared to 27.2% a year ago.
Headline financials
Revenue & EPS history
RLX · Revenue · Quarterly
$159M
Forward guidance
RLX expects continued growth through global diversification and innovation, but remains cautious due to regulatory risks and competitive pressures.
Tailwinds
- Strong retail and product expansion in Europe and Asia-Pacific.
- Robust international revenue mix at 71.6%.
- Improved gross margins from favorable geographic mix.
- Successful rollout of oral product line in the UK.
- Solid balance sheet with over $500M returned to shareholders.
Headwinds
- Regulatory challenges in Mainland China persist.
- Increased operating expenses from higher salaries and shipping costs.
- Foreign currency translation led to losses in comprehensive income.
- Uncertainty around long-term domestic recovery.
- Higher R&D and administrative costs may weigh on margins.
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
+1.5%
Avg return
Earnings day
+2.8%
Avg return
5 days after
+3.7%
Avg return
30 days after
54%
13 / 24 earnings
Positive
+23.3%
Q4 2022
Best reaction
-47.9%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.9% | -1.9% | -12.7% | |
| Q4 2025 | +0.4% | +1.3% | -7.9% | |
| Q3 2025 | +10.4% | +7.3% | +1.3% | |
| Q2 2025 | +6.8% | +7.1% | +12.9% | |
| Q1 2025 | +2.1% | +2.6% | +10.3% | |
| Q4 2024 | -3.8% | -14.0% | -27.7% | |
| Q3 2024 | +11.7% | +11.7% | +22.7% | |
| Q2 2024 | +3.7% | +10.5% | +1.9% | |
| Q1 2024 | -7.4% | -7.9% | -15.3% | |
| Q4 2023 | -0.5% | +8.2% | -9.7% | |
| Q3 2023 | +16.5% | +22.0% | +32.3% | |
| Q2 2023 | +4.9% | +2.1% | +5.6% | |
| Q1 2023 | -0.4% | -3.8% | -17.4% | |
| Q4 2022 | +23.3% | +19.2% | +31.5% | |
| Q3 2022 | +8.1% | +10.0% | +56.9% | |
| Q2 2022 | -5.7% | -14.6% | -17.9% | |
| Q1 2022 | -5.6% | -9.6% | +17.2% | |
| Q4 2021 | -47.9% | -10.3% | -20.1% | |
| Q3 2021 | -17.4% | +7.4% | -12.0% | |
| Q2 2021 | -9.7% | +3.1% | +13.9% | |
| Q1 2021 | -8.3% | -24.1% | -28.9% | |
| Q4 2019 | +19.3% | +14.4% | +10.5% | |
| Q4 2018 | +19.3% | +14.4% | +10.5% | |
| Q4 2020 | +16.2% | +12.9% | +32.0% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — |
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