ATRenew Inc (NYSE:RERE)

Q3 2025 ATRenew Inc Earnings Call Transcript

Nov 20, 2025 / 12:00 PM GMT

Release Date Price: $4.07 (+0.99%)

Transcript

Key Points

Positve

ATRenew Inc (RERE) achieved a record high total net revenue of RMB5.15 billion, marking a 27.1% year-over-year growth.
The company's 1P product revenue grew by 28.7% year-over-year to RMB4.73 billion, indicating strong growth momentum.
GAAP operating profits reached a record high of RMB140 million, up 34.9% year-over-year, with a non-GAAP operating profit margin of 2.7%.
The company successfully expanded its product acquisition through trading programs and its AHS recycle brand, with refurbished product revenue surging 102% year-over-year.
ATRenew Inc (RERE) is enhancing its international strategy, with monthly exports of China-sourced devices exceeding 10,000 units, and is preparing to replicate its platform capabilities abroad.

Negative

Fulfillment expenses increased by 25.9% to RMB440 million, driven by higher personnel and logistics expenses.
Selling and marketing expenses rose by 15.4% to RMB360 million, primarily due to higher advertising and promotional spending.
General and administrative expenses increased by 6.9% to RMB74.1 million, with a rise in tax, surcharges, and consultant fees.
The company's multi-category recycling business operates with a low single-digit take rate, which may limit profitability in this segment.
Despite strong growth, the company's expansion and increased operational costs could pressure profit margins if not managed effectively.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RERE.N - ATRenew Inc
Q3 2025 ATRenew Inc Earnings Call
Nov 20, 2025 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and good evening, ladies and gentlemen.

Thank you for standing by and welcome to the AP Renew Inc. 3rd quarter 2025 earnings conference call.

At this time, all participants are in a listen-only mode. We will be hosting a question-and-answer session after management's prepared remarks.

Please note today's call is being recorded. I would now like to turn the conference over to your first speaker today, Mr. Jeremy G, head of corporate development. Please go ahead, sir.

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Unidentified_2 [2]
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Thank you. Hello, everyone, and welcome to AT

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