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Jun 30
RLX Q2 2025 Earnings Report
RLX Technology reported strong Q2 2025 results driven by international expansion and margin improvements.
Key Takeaways
RLX Technology delivered solid revenue and profitability growth in Q2 2025, supported by global expansion efforts and improved cost controls. Net income and operating income showed significant improvement from the previous year.
Revenue rose to $122.8 million due to international market expansion.
Gross margin improved to 27.5%, aided by favorable product mix.
Non-GAAP net income reached $40.6 million, showing strong operational efficiency.
The company declared a $0.01 per share dividend for Q2.
RLX
RLX
RLX Revenue by Segment
RLX Revenue by Geographic Location
Revenue by Segment
E-vapor Products Revenue
CapyFin.comRevenue by Geographic Location
China Revenue
CapyFin.com Forward Guidance
RLX expects continued growth through international expansion, cost optimization, and strategic partnerships, though regulatory uncertainty remains a risk.
Positive Outlook
- Ongoing momentum in international expansion.
- Improved product mix contributing to better margins.
- Disciplined cost control supporting profitability.
- Strong balance sheet with over $538M in cash equivalents.
- Management confident in navigating industry complexity.
Challenges Ahead
- Regulatory shifts present ongoing uncertainty.
- Rising salaries and welfare expenses impacting costs.
- Increased R&D spending due to compensation expenses.
- Foreign currency translation led to other comprehensive loss.
- Decline in short-term liquidity compared to Q1 2025.