Yatsen Holding Ltd (NYSE:YSG)

Q4 2024 Yatsen Holding Ltd Earnings Call Transcript

Feb 25, 2025 / 12:30PM GMT

Release Date Price: $3.95 (-4.59%)

Transcript

Key Points

Positve

Yatsen Holding Ltd (YSG) reported a 7.1% year-over-year increase in total net revenues for the fourth quarter of 2024, aligning with their guidance.
The company's gross margin improved significantly to 77.8% in Q4 2024 from 73.7% in the prior year period, driven by higher sales of high-margin products.
Color Cosmetics revenues increased by 16.4% in Q4 2024, primarily due to the recovery of the Perfect Diary brand.
Yatsen's non-GAAP net income margin improved to 9.3% in Q4 2024, compared to a non-GAAP net loss margin of 8.7% in the prior year period.
The company successfully reduced total operating expenses by 3.5% in Q4 2024, contributing to improved profitability.

Negative

Despite the positive quarterly performance, Yatsen Holding Ltd (YSG) experienced a 0.6% decline in total net revenues for the full year 2024.
The beauty industry in China remained subdued in 2024, with total beauty retail sales declining 1.5% year-over-year in Q4.
Yatsen's net loss for Q4 2024 was RMB378.8 million, although this was an improvement from the prior year period.
Impairment of goodwill for Q4 2024 was RMB403.1 million, primarily due to weaker-than-expected operating results for the Eve Lom brand.
The company's cash, restricted cash, and short-term investments decreased to RMB1.36 billion as of December 31, 2024, from RMB2.08 billion the previous year.

Operator

Ladies and gentlemen, good day, and welcome to the Yatsen fourth quarter and full year 2024 earnings conference call. Today's conference call is being recorded. At this time, I would like to turn the conference over to Irene Lyu, Vice President, Head of Strategic Investment and Capital Markets. Please go ahead.

Irene Lyu Yatsen Holding Limited;Vice President and Head of Strategic Investment and Capital Markets

Thank you, operator. Please know that discussion today will contain forward-looking statements relating to the company's future performance and are intended to qualify for the Safe Harbor from liability as established by the US Securities Mitigation Reform Act. Such statements are not guarantees of future performance and are subject to certain risks and uncertainties, assumptions, and other factors. Some of these risks are beyond the company control and could cost actual results to differ materially from those mentioned in today's press release and this discussion.

A general discussion of the risk factors that could affect Yatsen's

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