Yatsen Holding Ltd (NYSE:YSG)

Q3 2025 Yatsen Holding Ltd Earnings Call Transcript

Nov 17, 2025 / 12:30 PM GMT

Release Date Price: $5.45 (-20.32%)

Transcript

Key Points

Positve

Yatsen Holding Ltd (YSG) reported a 47.5% year-over-year increase in total net revenues, exceeding the high end of their guidance.
The skincare segment grew by 83.2% year over year, now accounting for 49.2% of total revenue.
Net loss margin improved significantly from 17.9% in the prior year period to 7% this quarter.
Gross margin increased to 78.2% from 75.9% in the prior year period, driven by higher sales of products with better margins.
The company continues to focus on R&D and innovation, participating in international congresses and advancing scientific research.

Negative

Total operating expenses increased by 31.9% year over year, impacting overall profitability.
Selling and marketing expenses remain high, accounting for 68.3% of total net revenues.
The company faces intense competition from foreign high-end brands, particularly during major shopping festivals.
Net cash used in operating activities was 126.8 million, indicating ongoing cash flow challenges.
The company’s cash, restricted cash, and short-term investments decreased to RMB1.16 billion from RMB1.36 billion at the end of 2024.

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

YSG.N - Yatsen Holding Ltd
Q3 2025 Yatsen Holding Ltd Earnings Call
Nov 17, 2025 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the Yassin 3rd quarter 2025 earnings conference call.

Today's conference is being recorded.

At this time, I would like to turn the conference over to Ms. Irene Liu, Vice President, head of strategic Investment and capital markets. Please go ahead.

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Unidentified_2 [2]
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Thank you, operator. Please note that the discussion today will contain 4 statements relating to the company's future performance and are intended to qualify for the safe harbor from liability as established by the US Private

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