tiprankstipranks
Zepp Health reports Q4 adjusted EPS (14c) vs. 12c last year
The Fly

Zepp Health reports Q4 adjusted EPS (14c) vs. 12c last year

Reports Q4 revenue $155.4M vs. $260.7M last year. "Despite the macro challenges that weighed on our overall performance in 2022, our self-branded products achieved a 28.5% quarter-over-quarter increase in revenue and continued gross margin expansion in Q4." said CEO Wang Huang. "…we have successfully transformed our business from one with revenue largely contributed by one single customer into a self-reliant, global consumer smart wearable and healthcare solution provider…As we look to 2023, we are focused on achieving profitability and reinforcing our business resilience through cost-cutting initiatives…" CFO Leon Deng added, "Our Q4 revenue came in at RMB1.1B, in line with the guidance, down 35.5% year-over-year, mainly as a result of the sales decline of Xiaomi band products. Still, we are very pleased that our self-branded products registered two consecutive high double-digit growth from 2Q22. As we continued to successfully launch our margin-accretive new products and finetune our sales channels, we achieved a gross margin of 20.7% in Q4, the highest in 2022…Despite our progress in controlling costs, our net loss for the period was RMB75.5M and adjusted net loss was RMB60.3M, compared to RMB8.8M in Q3…Our operating loss has decreased to the lowest level this year, and our inventory levels have reduced by 18% compared to year-end 2021 as we continue to optimize our business operations…Going forward, we will continue to right-size our organization and streamline our cost base further to achieve profitability in the near future."

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles