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So-Young International Inc (NASDAQ:SY) reported fiscal second-quarter revenue of $56.1 million, beating the analyst consensus estimate of $54.3 million. Revenues declined 1.1% year-over-year.
The China-based consumption healthcare services provider registered an adjusted EPADS of $0.03, in line with the analyst consensus estimate.
Information services and other revenues were $38.4 million (-6.6% Y/Y), primarily due to decreased medical service providers subscribing to information services on So-Young’s platform.
Reservation services revenues were $3.1 million (-16.9% Y/Y) primarily due to the commission rate and subsidy policy change.
Sales of medical products and maintenance services were $14.6 million, an increase of 22.6%, primarily due to increased order volumes for cosmetic products.
Average mobile MAUs were 1.5 million, down from 3.0 million a year ago. The number of paying medical service providers on So-Young’s platform was 1,174, down from 1,659 Y/Y.
So-Young International held $171.3 million in cash and equivalents as of June 30, 2024.
Outlook: So-Young International expects third-quarter revenue of $48.2 million—$50.9 million (consensus $61.51 million).
So-Young International stock plunged 31% in the last 12 months.
Price Action: SY shares closed lower by 4.25% at $0.8809 on Thursday.
Posted In: SY
