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Dec 31, 2024
ZEPP Health Q4 2024 Earnings Report
Zepp Health reported a widened net loss in Q4 2024, despite strong sequential revenue growth and improving gross margins.
Key Takeaways
In Q4 2024, Zepp Health generated $59.5M in revenue, up 40% QoQ but down 28% YoY. Despite improved gross margin at 36.8%, a net loss of $36.9M was reported due to one-off non-cash provisions and investment losses.
Revenue reached $59.5M in Q4, up 40% QoQ but down 28.3% YoY.
Gross margin improved to 36.8%, driven by favorable product mix.
Reported net loss of $36.9M due to one-off investment impairments and tax adjustments.
Adjusted net loss stood at $22.5M, the narrowest quarterly loss in 2024.
Forward Guidance
Management expects Q1 2025 revenue between $40M and $45M, driven by momentum from Amazfit-branded products.
Positive Outlook
- Q4 revenue grew 40.2% sequentially
- Gross margin increased to 36.8% YoY
- T-Rex 3 and Amazfit brand gaining market traction
- Refinanced majority of short-term debt into long-term
- Q1 2025 revenue expected to resume growth
Challenges Ahead
- Revenue declined 28.3% YoY
- Net loss widened due to non-cash investment impairments
- Operating loss of $8.9M in Q4
- Adjusted net loss of $22.5M in Q4
- Cash balance decreased by $29M YoY
Historical Earnings Impact
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Avg. Return Before/After Earnings
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