So-Young International (SY) Q2 2026 Earnings
How Did SY Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: −0.40%.
Did SY Beat Earnings? Q2 2026 Results
Yes. So-Young International reported Q2 2026 earnings of $-0.03 a share on Aug 31, 2026, beating the $-0.60 consensus estimate by 95.0%. Revenue was $74.5M against a $478.4M estimate.
So-Young International delivered a sharply mixed second quarter, beating Wall Street's loss expectations by a wide margin while falling well short on revenue. The company posted a GAAP loss of $0.03 per share, beating the consensus estimate of $0.60 per share by 94.98%, extending its streak of beating consensus EPS estimates to four consecutive quarters. Revenue, however, came in at $74.46 million, missing the $478.35 million consensus by 84.43% and declining 80.3% year over year, as the legacy platform business continued to erode. The primary driver of the narrower-than-expected loss was rapid expansion within the aesthetic treatment services segment, which now operates 65 branded centers across 18 major Chinese cities, with same-store sales growth accelerating to 52%. GAAP net loss narrowed 37.0% year over year to $3.34 million, reflecting improving cost discipline even as total cost of revenues rose. Looking ahead, So-Young guided Q3 2026 aesthetic treatment services revenue to between $51.90 million and $53.40 million, representing 91.7% to 97.2% year-over-year growth, as CFO Shannon Shen cited a clear path toward profitability.
- Rapid expansion of branded aesthetic centers driving 129.5% growth in aesthetic treatment services
- Same-store sales growth of 52% vs 14% in Q2 2025
- Active users surged 154% YoY to over 255,300
- Core members grew 24% sequentially, contributing over 80% of aesthetic treatment services revenues
- Quarterly repurchase rate of nearly 70% among core members
- 3.8 percentage-point expansion in aesthetic treatment segment gross margin
- Verified treatment visits increased 145% YoY to approximately 165,200
“Our sustained focus on scale and efficiency yielded another strong quarter for our core aesthetic treatment business. Supported by enhanced medical capabilities, a robust standardized delivery system, and deeper AI integration, we scaled our business more efficiently. This solid execution is validated by a 129.5% year-over-year increase in second-quarter aesthetic treatment services revenues with a 3.8 percentage-point expansion in segment gross margin. Going forward, we will further strengthen our supply chain and accelerate AI-powered transformation to deliver more competitive products and services across our expanding network, laying a solid foundation for sustainable, high-quality growth.”
So-Young International CEO, on the earnings call
What Is So-Young International's Outlook?
For Q3 2026, So-Young expects aesthetic treatment services revenues to be between RMB352.0 million (US$51.9 million) and RMB362.0 million (US$53.4 million), representing a 91.7% to 97.2% increase from the same period in 2025. CFO Shannon Shen stated the company sees a clear path toward profitability as industry leadership solidifies and economies of scale continue to unfold.
SY YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $74.5M | $378.7M | −80.3% |
| Gross Profit | $32.8M | $194.2M | −83.1% |
| Operating Income | −$6.4M | −$3.5M | +86.4% |
| Net Income | −$3.3M | −$1.8M | +90.7% |
SY Revenue by Segment
When Does So-Young International Report Next?
Figures from SEC filings and company reports. Not investment advice.