5/20,$Zepp Health (ZEPP.US)$Unaudited financial results for the first quarter of 2024 were announced. According to the data, the company's revenue for the first quarter was US$39.8 million, or US$93.9 million, down 55.5% year on year. Net loss per ADS was 0.23 US dollars, net loss was 0.32 US dollars for the same period last year, net loss per ADS was 0.19 US dollars after adjustment, and net loss was 0.27 US dollars for the same period last year.
Chairman and CEO Mr. Huang Wang said that the revenue for the first quarter of 2024 was basically in line with previous guidelines. Huami Technology's Q1 gross margin was 36.8%, compared to 15.9% for the same period in 2023, and gross margin performance reached a record high.
The company's Q1 private brand product sales contributed more than 85% of revenue, and the application MAU exceeded 10 million. Furthermore, the company maintained positive operating cash flow for the seventh consecutive quarter.