Q4 2025 Zepp Health Corp Earnings Call Transcript
Key Points
- Amazfit branded product revenue grew 51% year-over-year for the full year 2025.
- Fourth-quarter gross margin reached a record level of 40.3%, indicating strong pricing power and brand recognition.
- Zepp Health Corp (ZEPP) launched several new products, including the Amazfit Active MAX and T-Rex Ultra 2, expanding their product portfolio.
- The company formed strategic partnerships with elite athletes and organizations like HYROX, enhancing brand credibility and visibility.
- Zepp Health Corp (ZEPP) reported a positive operating cash flow, strengthening their liquidity position.
- The company reported an adjusted net loss of USD6.4 million in Q4 2025.
- Operating expenses increased by approximately $8 million year-over-year, driven by marketing and branding investments.
- Zepp Health Corp (ZEPP) faced headwinds from FX fluctuations and memory chip cost increases.
- Despite revenue growth, the company still experienced a full-year adjusted net loss of USD31.5 million.
- Inventory management challenges were noted, with strategic risk purchases impacting inventory balances.
Ladies and gentlemen, thank you for standing by for Zepp Health Corporation's fourth-quarter and full-year 2025 earnings conference call. (Operator Instructions) Today's call is being recorded. I will now turn the call over to your host, Ms. Grace Zhang, Director of Investor Relations for the company. Please go ahead, Grace.
Hello, everyone, and welcome to Zepp Health Corporation's fourth-quarter and full-year 2025 earnings conference call. The company's financial and operating results were issued in our press release at the Newswire services earlier today and are posted online. You can also view the earnings press release and slides referred to on this call by visiting the IR section of the company's website.
Presenting today are Wang Huang, our Founder and Chief Executive Officer; and Leon Deng, our Chief Financial Officer. Joining us today will also have Mike Yeung, Chief Operating Officer and General Manager of North America; and [Eric Fleming], VP of Capital Markets in North America. Before we
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