Latest news with #Zepp
New Straits Times
2 days ago
- Entertainment
- New Straits Times
#SHOWBIZ: Malaysian stars align: Joe Flizzow, Dolla to open for Jay Park in KL
KUALA LUMPUR: Fans of South Korean superstar Jay Park are in for an unforgettable night as the global hip-hop and R&B icon announces the addition of two powerhouse Malaysian acts — Joe Flizzow and Dolla — as special guest performers at his '2025 World Tour [Serenades & Body Rolls] In Kuala Lumpur'. The highly anticipated concert is set to take place on June 14 at Zepp Kuala Lumpur. Known for his electrifying live performances and boundary-pushing artistry, Jay is showing his appreciation for the Malaysian music scene by inviting two of the country's most prominent stars to share his stage. Joe Flizzow, one of Malaysia's most respected voices in hip-hop, will bring his commanding presence and lyrical firepower to the show. A long-standing force in Southeast Asia's rap movement, his appearance is expected to deliver a powerful moment of cultural synergy and cross-border collaboration. Also joining the lineup is Dolla, Malaysia's premier girl group, whose recent single 'MWA' has taken the charts by storm, currently sitting in the Top 10 in Malaysia. With their dynamic choreography and fierce vocals, Dolla is set to inject a burst of energy into the night's performance and further solidify their rising status in the Asian pop scene. In a statement today, Jay said: "Joe Flizzow's been my brother for a long time, and Dolla's been making big moves out here. I'm excited to share the stage with both of them and show love to all the fans in Malaysia." The Kuala Lumpur show is part of Jay's extensive world tour that spans major cities across Asia, Australia, and New Zealand. With a reputation for unforgettable live shows and a lineup that now includes local chart-toppers, this concert is shaping up to be one of the year's most anticipated events.
Rakyat Post
23-05-2025
- Entertainment
- Rakyat Post
Rewind & Play: A 90s Night With Dr. Alban Like Never Before
Subscribe to our FREE An iconic moment in music history is about to unfold as Eurodance legend Dr. Alban makes his long-awaited debut in Malaysia with the Rewind & Play Experience, presented by Mojo Projects and Tuff & Loud. In a vibrant press conference held earlier today, organizers revealed the full campaign for this landmark event—an immersive celebration of music, nostalgia, and 90s culture. Scheduled for Friday, May 23, 2025, at 8 PM at Zepp Kuala Lumpur, the concert will transport fans straight into the heart of the golden era with unforgettable hits like 'It's My Life' and 'Sing Hallelujah' setting the tone for an electrifying night. 'This isn't just a show—it's a journey back to a vibrant era of music, dance, and pure energy. With DJs, dancers, and a few surprises along the way, we're creating an experience that truly captures the magic of the 90s,' said Ratna K. Nadarajan, CEO of Mojo Projects. The event also serves as a tribute to Dr. Alban's enduring global influence, from his rise to fame in the early 90s to his continued resonance with fans across generations. Mojo Projects emphasized that the night will be more than entertainment—it's a revival of a cultural movement filled with rhythm, energy, and collective memory. In a personal message to Malaysian fans, Dr. Alban said, 'I'm thrilled to be returning to Asia and can't wait to see you all on the dancefloor. Get ready for an unforgettable night—filled with music, energy, and love.' As anticipation builds, the Rewind & Play Experience promises to be a dynamic tribute to a defining era—where every beat and lyric reignites the legacy of 90s Eurodance. With a thoughtfully crafted production and an iconic artist at its heart, the event is poised to deliver a night that will live on in the memories of fans for years to come. More than a concert, Rewind & Play is a cultural time capsule—inviting audiences to step back, relive, and celebrate the decade that changed music forever. Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
New Straits Times
22-05-2025
- Entertainment
- New Straits Times
#SHOWBIZ: Dr Alban to unleash '90s vibes at Zepp KL
KUALA LUMPUR: Eurodance legend Dr Alban is thrilled to be returning to Malaysia for the second time. At a press conference held here earlier today, the 67-year-old Nigerian-Swedish singer, rapper, and producer admitted he felt wonderful to be back in the warm and hospitable country. "Thank you for inviting me to perform here. I'm happy to be here," said the singer, who is set to perform his first-ever full-fledged concert here tomorrow. The singer, whose hit song 'It's My Life' is still widely played globally for its upbeat tune, is scheduled to perform at the Dr Alban Live In Malaysia concert at Zepp Kuala Lumpur. "At tomorrow's show, I'm going to play all the hit songs, a one-hour non-stop performance, and I hope you'll bring your best dancing shoes with you. "It's going to be a great concert. I have a fantastic crew with me, including the DJs and backing vocalists. See you tomorrow," he said. This iconic moment in local music history will mark his concert here, presented by Mojo Projects and Tuff & Loud. "This isn't just a show, but a journey back to a vibrant era of music, dance, and pure energy. "With DJs, dancers, and a few surprises, we're creating an experience that will capture the magic of the 1990s," said Mojo Projects CEO Ratna K. Nadarajan.
Hype Malaysia
21-05-2025
- Entertainment
- Hype Malaysia
Nasyid Group Inteam's Upcoming Concert Has Separate Seating For Men & Women
When buying tickets for a concert, you can't choose who you will sit next to unless you go in pairs or a group. However, attendees at the upcoming Inteam concert can rest assured that they'll at least be sitting next to someone of the same gender. Yesterday (20th May 2025), the Muslim musical group Inteam released details for their upcoming concert, 'Konsert Kasih Kekasih 25 Tahun'. The concert will take place on 27th September 2025 (Saturday) at Zepp Kuala Lumpur. For those unfamiliar with the group, Inteam is a Malaysian musical group focusing on nasyid or Islamic hymns. The group have been active since 2000 and is considered one of Malaysia's most popular nasyid acts. Given that Inteam is an Islamic musical group, it's understandable that the concert will come with a different set of rules to show respect to their Muslim fans and their religion. One of the more notable differences between Inteam's concert and other musical acts is the seating plan. As shown in the official poster, the group's concert will have separate seating for men, women and families across all the different zones. Since this seating arrangement is quite unusual for a concert, it sparked a lot of comments from netizens. However, most comments reacted positively to the move, with some even quipping that Inteam is respecting the 'halal gap'. Others also noted that it's good that the musical act is doing this, saying it shows how Muslims can still enjoy concerts and entertainment without going against their religion. However, the seating arrangement also led to some confusion. As seen in the comment section of Inteam's Instagram post, some fans had questions about which zone they should purchase if they were going with their siblings or as a husband-and-wife pair. Thankfully, the organisers assured that siblings of different genders and husbands and wives can choose to sit in the family zone. There will also be crew members at the concert to help assist the audience with their seats. It's worth noting that Malaysian star Nur Fazura also had a dedicated women-only zone for her 2022 'Faztival Fazura' concert, so the idea isn't completely foreign. What are your thoughts on this? Source: Twitter, Instagram
Yahoo
20-05-2025
- Business
- Yahoo
Zepp Health Corporation Reports First Quarter 2025 Unaudited Financial Results
MILPITAS, Calif., May 19, 2025 /PRNewswire/ -- Zepp Health Corporation ("Zepp" or the "Company") (NYSE: ZEPP) today announced its unaudited financial results for the first quarter of 2025. First Quarter 2025 Financial and Operating Highlights: Revenue reached US$39 million, out of which Amazfit-branded products grew by 10.2% year-over-year. Gross margin was 37.3% compared with 36.8% in the same period of last year Cash balance was 104 million, after repayment of US$11.5 million short-term debt in the first quarter of 2025. The U.S.-China reached deal to temporarily reduce tariffs; the company has proactively established a dual-sourcing supply chain strategy with production bases in both China and Vietnam. For the second quarter of 2025, the Company's management currently expects net revenues to be between US$50 million and US$55 million, which would represent an increase of approximately 23% to 35% from US$40.6 million in the second quarter of 2024. Mr. Wang 'Wayne' Huang, Chairman and CEO of Zepp, commented, "In the first quarter of 2025, we are happy to see that our Amazfit revenue grew 10% year over year as we execute against a difficult macro backdrop while sharpening our operating model for long–term resilience. Tariff relief on key smartwatch categories in the United States and our dual–sourcing strategy between China and Vietnam helped cushion some external cost pressures, and the additional Vietnam capacity we brought online further de–risked the supply chain. Fixed expenses were not fully absorbed in the low season, which limited gross–margin leverage, but the progress we have made on mix upgrade keeps us firmly on the path toward sustained profitability." Wayne added, "Over the past four months, we successfully launched the Amazfit Active 2 and Bip 6. These smartwatches frequently rank among the top 10 on Amazon's smartwatch category in major countries with ratings exceeding 4.6 on Amazon in the U.S. They also received enthusiastic acclaim within the Reddit community. With sales on a consistent upward trend and production - delivery challenges on the brink of full resolution, we anticipate even higher sales for the Active 2 and Bip 6 series in the upcoming quarters. We remain committed to leveraging open-source technologies such as Llama. Recently, we enhanced the responsiveness of Zepp Flow voice commands on our smartwatches, achieving a 17-fold improvement in speed. Additionally, by adopting a hybrid AI solution combining OpenAI and Google Gemini, we reduced the cost of food recognition in our app's food log by 90%. This enabled us to expand the service across a wider region in Europe and double the daily usage allowance for users." Wayne concluded, "To amplify the brand, we deepened our presence in the HYROX community via events in Chicago, Taipei and Shanghai, and welcomed global athlete partners like five-time Olympic medallist Gabby Thomas and Italian tennis star Jasmine Paolini. Last weekend, Jasmine made history by becoming the first Italian woman in 40 years to win the Rome Open. She, wearing the Active 2 watch, is inspiring sports enthusiasts in the spotlight. Such moments build brand voice and user connection. Strong sales of our budget-friendly products lay the groundwork for mid-to-high-end launches, strengthen partner confidence, broaden our user base, and expand the sales funnel. As these efforts begin to yield in results, second quarter we expect our first year-over-year overall sales growth since 2021 as new products scale up, partnerships expand, and our global footprint broadens. We'll remain vigilant of external challenges, keep optimizing the supply chain, and invest in AI-driven unique experiences to keep Zepp Health leading in the wearable market. With all the new product roadmaps lined up, and we believe 2025 will be a fruitful year for Zepp Health." Zepp Health's CFO, Mr. Leon Deng, said, "Our results in the first quarter of 2025 tracked closely with guidance. We are pleased to report that Amazfit products revenue has returned to growth after a two-year transformation period. This marks a significant milestone in our ongoing strategy toward a more brand-driven growth model. The strong performance reflects continued momentum in our core markets and the successful launches of key products, which have outperformed prior models in terms of sales velocity and market reception. Total gross margin stood at 37.3%, higher than both the fourth and the first quarter of 2024, even after absorbing foreign currency and tariffs headwinds. Furthermore, our total operating expense was US$32.7 million, and adjusted operating expenses[1] of US $31.5 million in the first quarter were up modestly from both the prior quarter and prior year same quarter, reflecting disciplined investments in research and development expenses, as well as targeted brand and marketing investments around product launches and new athlete sponsorships. As a result, our net loss is US$19.7 million, and our adjusted net loss[2] was US$18.1 million, as the first quarter is traditionally the lowest sales season for consumer electronics industry, which could not absorb our cost base in full. Despite this, our cash balance was US$104 million, compared to US$110 million at the fourth quarter of 2024, thanks to our enhanced working capital management and improved cash conversion cycle. Following the refinancing completed in February, long–term borrowings now represent about 70% of our total debt, and we have retired US$67.8 million of debt since early 2023, with another US$11.5 million repaid in the first quarter 2025. For the second quarter, we project revenue of US$50 million to US $55 million, representing 23% to 35% growth of revenues compared with second quarter of 2024. Our share‑repurchase program remains in place for the remainder of 2025, underscoring confidence in Zepp Health's outlook. " [1] Adjusted operating expenses represent operating expenses excluding (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. See "Reconciliation of GAAP and non-GAAP results" at the end of this press release. [2] Adjusted net income/(loss) attributable to Zepp Health Corporation represents net income/(loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, and (vi) tax effects of the above non-GAAP adjustments. See "Reconciliation of GAAP and non-GAAP results" at the end of this press release. First Quarter 2025 Financial Results Revenues Revenues for the first quarter of 2025 reached US$38.5 million, a decrease by 3.6% from the first quarter of 2024. The decrease was primarily due to the US$5.0 million decrease in the sales of Xiaomi wearable products. In the first quarter of 2025, sales of Amazfit-branded products grew 10.2% year over year, marking a return to growth since the first quarter of 2022. This was preceded by a strong quarter over quarter growth of 43.4% from the third quarter to the fourth quarter of 2024. The increase was mainly driven by the successful launch of Amazfit Active 2, Bip 6, while we are still facing some supply constrains especially on the Amazfit Active 2 premium version, and it should be fully resolved in the second quarter of 2025. Compared with fourth quarter of 2024, revenue decline is driven by the seasonality while the first quarter is the lowest quarter of the year and supply constrains especially on the long lead-time components for Amazfit Bip 6 and Active 2 premium version, which resulted the Bip 6's launch was postponed to the end of March 2025. Looking at the second quarter of 2025, we are expecting the Amazfit-branded sales continue to grow, with many new products launches in the pipeline. Gross Margin Gross margin in the first quarter of 2025 was 37.3%, which was higher than first and fourth quarter of 2024, We are impacted by the additional 20% tariffs imposed on China-made products in the first quart of 2025, excluding that the gross margin is 38.4%. The higher gross margin of Amazfit-branded products was mainly driven by the higher gross margin of newly- launched products. Research and Development Expenses Research and development expenses in the first quarter of 2025 were US$12.4 million, a decrease by 7.8% year-over-year. The decrease was as a result of our refined research and development approaches, as we consistently evaluated resource efficiency to ensure maximum return on investment and productivity. We are committed to investing in new technologies and AI to maintain our competitive edge against our peers. Selling and Marketing Expenses Selling and marketing expenses in the first quarter of 2025 were US$13.8 million, an increase by 28.5% year-over-year. The increase was primarily due to US$1.7 million in digital campaigns and product launch events for new products, and US$1.4 million in sales channel investments. At the same time, we consistently pushed on retail profitability and channel mix improvement. We are committed to investing efficiently in marketing and branding to ensure our sustainable growth. General and Administrative Expenses General and administrative expenses were US$6.5 million in the first quarter of 2025, compared with US$6.4 million in the same period of 2024, an increase by 1.5% year-over-year. The increase was largely attributable to foreign exchange rate fluctuations of US$1.0, offset by a US$0.8 million decrease in share-based compensation expenses. Operating Expenses Total operating expenses for the first quarter of 2025 were US$32.7 million, an increase by 6.9% year-over-year. Adjusted operating expenses, which exclude share-based compensation and amortization of intangible assets resulting from acquisitions and business cooperation agreements, were US$31.5 million, compared with US$27.8 million in the same period of 2025. The increase was primarily due to foreign exchange rate fluctuations of US$1.0 million, US$1.7 million in digital campaigns and product launch events for new products, and US$1.4 million in sales channel investments. We will maintain our cost-conscious approach, aiming for operating expenses of US$25 to US$27 million in the upcoming quarters. Concurrently, we remain committed to investing in R&D and marketing activities to ensure our long-term competitiveness. Operating Income/(Loss) Operating loss for the first quarter of 2025 was US$18.4 million, which resulted in an inability to fully cover operating expenses, compared to operating loss of US$15.9 million for the first quarter of 2024. Adjusted operating loss[3] for the first quarter of 2025 was US$17.2 million, compared to adjusted operating loss of US$13.1 million for the same period of 2024. The variance was mainly due to foreign exchange rate fluctuations of US$1.0 million, US$1.7 million in digital campaigns and product launch events for new products, and US$1.4 million in sales channel investments. [3] Adjusted operating income/(loss) represents operating income/(loss) excluding: (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. See "Reconciliation of GAAP and non-GAAP results" at the end of this press release. Net Income/(Loss) Net loss attributable to Zepp Health Corporation for the first quarter of 2025 was US$19.7 million, compared to net loss of US$14.8 million in the first quarter of 2024. Adjusted net loss attributable to Zepp Health Corporation was US$18.1 million, compared to adjusted net loss of US$13.6 million in the first quarter of 2024. The first quarter is typically the season with the lowest sales, which resulted in an inability to fully cover operating expenses. Liquidity and Capital Resources As of March 31, 2025, the Company had cash and cash equivalents and restricted cash of US$103.8 million, compared with US$110.7 million of cash balance as of December 31, 2024, the result was driven by the net loss for the first quarter of 2025, offset by US$12.8 million tighter working capital management. This cash position provides ample runway for the Company to invest and seize potential market opportunities. The Company continued to manage its working capital and inventory efficiently and recorded inventory of US$64.1 million as of March 31, 2025. It went up a bit due to preparation for product launch, but the Company managed to improve big time on accounts receivable collection and accounts payable management. The Company will continue to manage working capital tightly. By February 2025, we have successfully refinanced majority of our short-term debts maturing in 2025 to a multi-year long-term debt maturing in 2027 and beyond with a lower interest rate. Starting the first quarter of 2023, we have initiated the retirement of our short/long-term debt portfolio. As of the first quarter of 2025, the Company has retired a total of US$67.8 million of debt since early 2023, with US$11.5 million repaid in the first quarter of 2025. As our operating cash flow continues to strengthen, we will continue to optimize the capital structure for the company. Shares Outstanding As of March 31, 2025, the Company had a total of 229.9 million ordinary shares outstanding, representing the equivalent of 14.4 million ADSs assuming the conversion of all ordinary shares into ADSs. Share Repurchase Program Update The Company announced in its third quarter 2021 earnings release that the board had authorized a share repurchase program of up to US$20 million through November 2022. On November 21, 2022, the board authorized a 12-month extension of the Company's share repurchase program. On November 20, 2023, the board further authorized the Company to extend its share repurchase program for another 12 months. On November 18, 2024, the board further authorized the Company to extend its share repurchase program for another 24 months. Pursuant to the extended share repurchase program, the Company may repurchase its shares in the form of ADSs and/or ordinary shares through November 2026 with an aggregate value equal to the remaining balance under the share repurchase program. As of March 31, 2025, the Company had used US$15.4 million to repurchase approximately 2.0 million ADSs. The Company expects to fund the repurchases under the extended share repurchase program out of its existing cash balance. Outlook For the second quarter of 2025, the Company's management currently expects net revenues to be between US$50 million and US$55 million, which would represent an increase of approximately 23% to 35% from US$40.6 million in the second quarter of 2024. This outlook is based on current market conditions and reflects the Company's current and preliminary estimates of market, operating conditions and customer demand, which are all subject to change. Conference Call The Company's management team will hold a conference call at 9:00 p.m. Eastern Time on Wednesday, May 19, 2025 to discuss financial results and answer questions from investors and analysts. Listeners may access the call by dialing: US (Toll Free): +1-888-346-8982 International: +1-412-902-4272 Mainland China (Toll Free): 400-120-1203 Hong Kong (Toll Free): 800-905-945 Hong Kong: +852-3018-4992 Participants should dial in at least 10 minutes before the scheduled start time and ask to be connected to the call for "Zepp Health Corporation". Additionally, a live and archived webcast of the conference call will be available at A telephone replay will be available one hour after the call until May 26, 2025 by dialing: US Toll Free: +1-877-344-7529 International: +1-412-317-0088 Replay Passcode: 5798726 About Zepp Health Corporation Zepp Health Corporation (NYSE: ZEPP) is a global smart wearable and health technology leader, empowering users to live their healthiest lives by optimizing their health, fitness, and wellness journeys through its leading consumer brands, Amazfit, Zepp Clarity and Zepp Aura. Powered by its proprietary Zepp Digital Management Platform, which includes the Zepp OS, AI chips, biometric sensors and data algorithms, Zepp delivers cloud-based 24/7 actionable insights and guidance to help users attain their wellness goals. To date, Zepp has shipped over 200 million units, and its products are available in more than 90 countries and regions. Founded in 2013 as Huami Corp., the Company changed its name to Zepp Health Corporation in February 2021 to emphasize its health focus with a name that resonates across languages and cultures globally. Zepp has team members and offices across globe, especially in Europe and USA regions. Use of Non-GAAP Measures We use adjusted net income/(loss), a non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes. Adjusted operating expenses represent operating expenses excluding (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. Adjusted operating income/(loss) represents operating income/(loss) excluding: (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. Adjusted EBIT[4] represents net income/(loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, (vi) income tax (benefit)/expense, and (vii) interest income and interest expense. Adjusted net income/(loss) attributable to Zepp Health Corporation is a non-GAAP measure, which excludes (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, and (vi) tax effects of the above non-GAAP adjustments, and is used as the numerator in computation of adjusted net income/(loss) per share and per ADS attributable to Zepp Health Corporation. We believe that adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in net income/(loss) and net income/(loss) attributable to Zepp Health Corporation. We believe adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation provides useful information about our operating results, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision-making. Adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation, should not be considered in isolation or construed as an alternative to net income/(loss), basic and diluted net income/(loss) per share and per ADS attributable to Zepp Health Corporation or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted EBIT and adjusted net income/(loss) attributable to ordinary shareholders, presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure. [4] Adjusted EBIT is a non-GAAP financial measure, which is defined as net loss, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, (vi) income tax (benefit)/ expense, and (vii) interest income and interest expense. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the recognition of the Company's Amazfit-branded products; the Company's growth strategies; trends and competition in global wearable technology market; changes in the Company's revenues and certain cost or expense accounting policies; governmental policies relating to the Company's industry and general economic conditions around the globe. Further information regarding these and other risks is included in the Company's filings with the United States Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: In China:Zepp Health CorporationGrace Yujia ZhangEmail: ir@ Piacente Financial CommunicationsTel: +86-10-6508-0677Email: zepp@ Zepp Health Corporation UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted)As of December 31,As of March 31, 20242025 US$US$Assets Current assets: Cash and cash equivalents91,06976,429 Restricted cash19,66627,408 Accounts receivable, net62,96552,896 Amounts due from related parties2,6632,581 Inventories, net56,78964,136 Short-term investments9971,002 Prepaid expenses and other current assets17,41518,003 Total current assets251,564242,455Property, plant and equipment, net6,8986,506 Intangible asset, net7,09115,220 Goodwill9,5819,581 Long-term investments225,910218,035 Deferred tax assets17,46517,488 Amount due from related parties, non-current2,0192,031 Other non-current assets4,6074,386 Operating lease right-of-use assets3,4583,051 Total assets528,593518,753 Zepp Health Corporation UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted)As of December 31, As of March 31, 20242025 US$US$Liabilities Current liabilities: Accounts payable51,07760,742 Advance from customers197237 Amount due to related parties2,4771,036 Accrued expenses and other current liabilities37,57635,259 Income tax payables508506 Notes payable61,67978,452 Short-term bank borrowings41,85336,105 Total current liabilities195,367212,337 Deferred tax liabilities3,1173,090 Long-term borrowings75,24169,495 Other non-current liabilities133134 Non-current operating lease liabilities2,0071,662 Total liabilities275,865286,718 Zepp Health Corporation UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted) As of December 31,As of March 31, 20242025 US$US$Equity Ordinary shares2626 Additional paid-in capital278,116278,775 Treasury stock(14,993)(15,450) Accumulated retained earnings28,6188,877 Accumulated other comprehensive loss(40,178)(40,193) Total Zepp Health Corporation shareholders' equity251,589232,035 Noncontrolling interest1,139- Total equity252,728232,035 Total liabilities and equity528,593518,753 Zepp Health Corporation UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted)For the Three Months Ended March 31, 20242025 US$US$Revenues39,95738,537 Cost of revenues(25,257)(24,176) Gross profit14,70014,361 Operating expenses: Selling and marketing(10,769)(13,841) General and administrative(6,420)(6,518) Research and development(13,421)(12,377) Total operating expenses(30,610)(32,736) Operating loss(15,910)(18,375) Other income and expenses: Interest income1,012581 Interest expense (1,443)(1,358) Other income/(expense), net684 Gain/(loss) from fair value change of long-term investments2,103(125) Loss before income tax and loss from equity method investments (14,170)(19,273) Income tax expenses(72)(110) Loss before loss from equity method investments(14,242)(19,383) Net loss from equity method investments(559)(358) Net loss(14,801)(19,741) Less: Net loss attributable to noncontrolling interest(32)- Net loss attributable to Zepp Health Corporation(14,769)(19,741)Basic and diluted net loss per share attributable to Zepp Health Corporation (0.06)(0.08)Basic and diluted net loss per ADS (16 ordinary shares equal to 1 ADS) (0.91)(1.23)Weighted average number of shares used in computing basic and diluted net loss per share259,525,679256,410,171 Zepp Health Corporation Reconciliation of GAAP and Non-GAAP Results (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted)For the Three Months Ended March 31, 20242025 US$US$Total operating expenses(30,610)(32,736) Share-based compensation expenses2,283589 Amortization of intangible assets resulting from acquisitions and business cooperation agreements567635 Total adjusted operating expenses(27,760)(31,512)Operating loss(15,910)(18,375) Share-based compensation expenses2,283589 Amortization of intangible assets resulting from acquisitions and business cooperation agreements567635 Adjusted operating loss(13,060)(17,151)Net loss(14,801)(19,741) Share-based compensation expenses2,283589 Amortization of intangible assets resulting from acquisitions and business cooperation agreements567635 (Gain)/loss from fair value change of long-term investments(2,103)125 Loss from equity method investments559358 Income tax expenses72110 Interest income(1,012)(581) Interest expense 1,4431,358 Adjusted EBIT(12,992)(17,147)Net loss attributable to Zepp Health Corporation(14,769)(19,741) Share-based compensation expenses2,283589 Amortization of intangible assets resulting from acquisitions and business cooperation agreements567635 (Gain)/loss from fair value change of long-term investments(2,103)125 Loss from equity method investments559358 Tax effects on non-GAAP adjustments(91)(103) Adjusted net loss attributable to Zepp Health Corporation(13,554)(18,137)Adjusted basic and diluted net loss per share attributable to Zepp Health Corporation[5] (0.05) (0.07)Adjusted basic and diluted net loss per ADS (16 ordinary shares equal to 1 ADS) (0.84) (1.13)Weighted average number of shares used in computing adjusted basic and diluted net loss per share 259,525,679 256,410,171Share-based compensation expenses included are follows: Selling and marketing25042 General and administrative1,060286 Research and development973261 Total2,283589[5] Adjusted diluted net income/(loss) is the abbreviation of adjusted net (loss)/income attributable to Zepp Health Corporation, which is a non-GAAP measure and excludes (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, and (v) income/(loss) from equity method investments, and (vi) tax effects of the above non-GAAP adjustments, and is used as the numerator in computation of adjusted basic and diluted net loss per ADS attributable to Zepp Health Corporation. View original content: SOURCE Zepp Health Corp.
