So-Young International Inc. (SY) Earnings Call Transcripts

So-Young International Inc.'s Latest Earnings Call - Q1 FY2026

In Q1 2026, So-Young International Inc. reported total revenue of RMB 433 million, reflecting a robust year-over-year growth of approximately 46%. The aesthetic center business was a significant driver, generating RMB 282 million, up 186% year-over-year. Despite a net loss of RMB 49.2 million, management expressed confidence in future growth, raising guidance for Q2 aesthetic treatment service revenues to between RMB 307 million and RMB 317 million, indicating a year-over-year growth of 112.6% to 119.5%. This strong performance and positive outlook could serve as catalysts for the stock moving forward.

Reported metrics

Guidance from management

Management expects aesthetic treatment service revenues for Q2 2026 to be between RMB 307 million and RMB 317 million, indicating strong growth momentum. They emphasized ongoing initiatives to strengthen market leadership and drive sustainable growth.

What management said

[Interpreted] entering 2026, China's medical aesthetic industry continues to evolve with demand becoming more [ retained ] and supply continue to grow. Large-scale operational capabilities and a uniform delivery framework have become the key mode for top players to achieve high-quality growth. We capitalized on this by expanding our aesthetic center business and advancing our dual engine of scale and efficiency initi...

[Interpreted] The So-Young Clinic continued to lead So-Young's light medical aesthetics chain market, ranking #1 by center count treatment volume and user base. Our operational efficiency and profitability also continued to improve.

What analysts pressed on

Analysts expressed concerns regarding the competitive landscape and the slowdown in overall growth within the medical aesthetic industry. There were questions about how So-Young plans to maintain its growth trajectory amidst increasing competition and changing consumer preferences.

Main topics on the call

• Revenue Growth Acceleration — So-Young achieved total revenue of RMB 433 million, up around 46% year-over-year. Revenue from the aesthetic center business surged to RMB 282 million, representing a remarkable 186% increase year-over-year. Management s...
• Center Expansion and Operational Efficiency — The company expanded its clinic footprint to 59 centers across 17 cities, adding 10 centers since year-end 2025. The number of profitable centers rose to 41, with 48 centers generating positive operating cash flow, indic...
• User Base Growth and Engagement — So-Young's active user base grew to over 310,000, with core members exceeding 63,000. The quarterly repurchase rate among core members remained high, with 52% of new customers acquired through referrals. Management empha...
• Guidance Update — Management raised guidance for Q2 2026, expecting aesthetic treatment service revenues between RMB 307 million and RMB 317 million, which translates to a year-over-year growth of 112.6% to 119.5%. This reflects confidenc...

Read the full So-Young International Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 24 So-Young International Inc. earnings call transcripts on record, spanning March 23, 2020 to May 22, 2026. Based on this history, So-Young International Inc. reports quarterly. The most recent call on file is dated May 22, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SY

Exchange

NasdaqCM

Country

US

Sector

Communication Services

Industry

Interactive Media and Services

Calls on record

24

First call

March 23, 2020

Most recent

May 22, 2026

Reporting cadence

quarterly