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EarningsQ4 2026 Earnings Report
HERE Q4 2026 EPS Results
Actual EPS-$0.16
Consensus EPS―
Beat/Miss―
One Year Ago EPS$0.10
HERE Q4 2026 Revenue Results
Actual Revenue$18.75M
Expected Revenue―
Beat/Miss―
YoY Revenue Growth-78.04%
Earnings Announcement Details
QuarterQ4 2026
Date09/22/2026
TimeBefore Open
Conference CallTuesday, September 22, 2026
HERE Upcoming Earnings
Here Group's next earnings date is estimated for December 16, 2026, based on past reporting schedules.
Q4 2026 Earnings Call Audio
HERE Q4 2026 Earnings Call
0:00 / 0:00
Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strategically optimistic, supported by 94.1% year-over-year fourth-quarter revenue growth, rapid expansion of newer IPs, a broader portfolio, and continued development of D2C, Roboshop, partnership, and experiential initiatives. However, the company faced significant near-term financial pressure, including sequential revenue decline, lower traditional channel sales, gross-margin compression, higher operating expenses, a CNY 124.1 million goodwill impairment, widened adjusted losses, and elevated channel inventory. The highlights outweigh the lowlights in terms of operating momentum and strategic progress, but management acknowledged that profitability and inventory normalization remain ongoing challenges.Company Guidance
Strong Fourth-Quarter and Full-Year Revenue Growth
Fourth-quarter revenue was CNY 127.7 million, representing a 94.1% year-over-year increase. Full-year fiscal 2026 revenue reached CNY 596.8 million. The year-over-year growth was primarily driven by higher sales of both existing and newly launched IP product lines in the pop toy business.
Expanded and More Diversified IP Portfolio
As of June 30, 2026, the total IP portfolio expanded to 22 IPs, comprising 13 proprietary IPs and nine exclusively licensed IPs. Management said the ecosystem is designed to mitigate single-IP dependency through proprietary IP incubation, product innovation, and brand collaborations.
WAKUKU Remained the Flagship IP
WAKUKU generated CNY 47.7 million in fourth-quarter revenue and CNY 369.3 million for the full year, accounting for 61.9% of annual revenue.
Rapid Scale-Up of SIINONO
Launched in the second half of 2025, SIINONO generated CNY 27.3 million in fourth-quarter fiscal 2026 revenue, representing 21.4% of quarterly revenue. It generated CNY 92.7 million in its first full fiscal year and contributed 15.5% of annual revenue. Management said its growth from zero to a near CNY 100 million annualized scale in under 12 months demonstrated the company's ability to build and scale new proprietary IPs.
Strong Growth in Emerging IPs
Revenue from the others IP category, including emerging proprietary IPs such as Xiao Many More, Funini, Fila, and Inpoppo Pigs, increased 661% year over year to CNY 39.8 million in the fourth quarter from CNY 5.2 million in the same period last year. Combined with ZIYULI's CNY 12.8 million contribution, this portfolio of IPs accounted for over 41% of quarterly revenue.
Broader IP Commercialization and Partnerships
The company expanded its IPs into premium daily-consumer and lifestyle scenarios. SIINONO launched a limited-edition sparkling water with Genki Forest, partnered with IRO Paris on an exclusive plush pendant collection, collaborated with the Museum of Fine Arts, Boston on five premium artistic works across three core IPs, and became the headline IP for the 2026 China Open. Fluffy Lily collaborated with CASETiFY, served as an official event partner for the 38th Hundred Flowers Awards, and launched themed campaigns during the Qixi Festival.
New IP Pipeline Development
The company introduced Yuna and launched seasonal collections for Inpoppo Pigs and Fluffy Lily. Management said it has a systematic approach covering IP discovery, incubation, and commercialization, supported by dedicated teams, in-house creation, artist collaborations, real-time sales and user feedback, and cross-industry partnerships.
Hong Kong Experiential Cruise Launch
The Hong Kong Central Pier cruise project was undergoing final decoration after being transformed into a multilayered experiential space on Victoria Harbor. Ticket sales launched on Ctrip on September 21, ahead of the maiden voyage on October 1, allowing the company to target peak tourist flows during the upcoming National Day Golden Week.
Disciplined D2C Store Expansion
The company operated seven D2C stores across four core metropolitan areas and opened a new store at Beijing Daxing International Airport during the quarter. Management described the airport location as an entry into high-traffic premium transit-hub retail and said the company prioritizes quality, location premium, strict ROI review, and sound unit economics over store-count expansion.
Roboshop Network Reached Initial Layout
The automated retail network expanded to 25 Roboshops across six cities, completing its initial structural layout. The company shifted its focus from aggressive deployment to maximizing same-machine efficiency, extracting data, and using real-time consumer insights to inform assortment and placement decisions.
Pop-Ups Used for IP Activation and User Engagement
The company continued using agile pop-up storefronts to de-risk site selection while activating IPs and enabling immersive user interaction. Management cited successful September activations at PRISMA Xinjia Center in Shanghai and Hangzhou Tower.
Supply Chain and Omnichannel Data Improvements
The company said it strengthened bargaining leverage with manufacturers and suppliers, shortened supply-chain response times, and improved replenishment speed, quality, and resilience. It also consolidated data from physical stores, Roboshops, and online commerce into an omnichannel infrastructure, with an upgraded membership ecosystem designed to track customer behavior and support inventory optimization.
Digital Engagement and Channel Integration
The company's cumulative social footprint continued to scale, while KPIs shifted from follower counts toward engagement quality. Online platforms were described as a bridge for converting digital-community engagement into D2C foot traffic and reinforcing offline experiences with online knowledge. Traditional channel relationships are also being transitioned toward customized strategic alliances focused on brand integrity and pricing.
Continued Investment in Talent and Product Capabilities
The company continued onboarding industry experts in premium store operations, product design, and core brand operations. R&D expenses were CNY 9.9 million, compared with CNY 9.0 million a year earlier, primarily due to higher product-design-related expenses as the company continued investing in its design team.
Share Repurchase Program Initiated
The board approved a $20 million ADS repurchase program in June. As of September 16, 2026, the company had repurchased approximately $0.4 million of ADS for approximately $0.7 million under the program.
Debt-Free Balance Sheet and Liquidity Profile
Management stated that the company has an interest-bearing debt-free balance sheet and a highly resilient liquidity profile, which it said provides financial durability and strategic patience while it works through inventory and operating-model adjustments.
HERE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed