MILPITAS, Calif., Aug. 21, 2024 /PRNewswire/ -- Zepp Health Corporation ("Zepp" or the "Company") (NYSE: ZEPP) today reported revenues of US$40.6 million; a basic and diluted net loss per share of US$0.04; and a basic and diluted net loss per ADS of US$0.17 for the second quarter ended June 30, 2024; adjusted basic and diluted net loss per share of US$0.04; and adjusted basic and diluted net loss per ADS of US$0.15. Each ADS represents four Class A ordinary shares.Starting from the second quarter of 2024, t ...

Amazfit Active becomes the world's first smartwatch under €200 to fully-integrate AI. MILPITAS, Calif., July 2, 2024 /PRNewswire/ -- Zepp Health Corporation ("Zepp Health") (NYSE: ZEPP), a global leader in smart wearables and health technology, unveils Zepp OS 4, a groundbreaking advancement in wearable technology. This latest iteration integrates OpenAI's GPT-4o most advanced system, producing safer and more useful responses and enhancing the functionality of Amazfit smartwatches to serve as comprehensive ...

Amazfit smartwatches and fitness wearables continue to unlock potential for endurance athletes with unparalleled performance benefits MILPITAS, Calif., June 5, 2024 /PRNewswire/ -- Zepp Health Corporation ("Zepp Health") (NYSE: ZEPP), a global leader in smart wearables and health technology, has announced that Amazfit's growing roster of international athletes has added Morgan Pearson and Yemaneberhan "Yeman" Crippa. Pearson and Crippa join renowned German marathon runner Hendrik Pfeiffer, and Polish ultr ...

LiveX AI delivers personalized experiences for customers in real time using Google Kubernetes Engine and NVIDIA NIMSUNNYVALE, Calif., May 29, 2024 /PRNewswire/ -- LiveX AI, a pioneer in generative AI technology for customer experience, today announced a transformative partnership with Zepp Health Corporation ("Zepp Health") (NYSE: ZEPP), a global leader in smart wearables and health technology. This partnership aims to redefine the customer experience for visitors to Zepp Health's Amazfit website. By integr ...

Financial Performance - Revenues for Q1 2024 were US$39.8 million, a decrease of 55.5% year-over-year, primarily due to lower sales of Xiaomi products and no new self-branded product launches[5] - Net loss attributable to Zepp Health Corporation for Q1 2024 was US$14.6 million, a decrease of 22.8% year-over-year[12] - Revenues for the three months ended March 31, 2024, were RMB 287,231, a decrease of 55.5% compared to RMB 645,183 for the same period in 2023[35] - The net loss attributable to Zepp Health Corporation for the three months ended March 31, 2024, was RMB 105,524, compared to RMB 136,720 for the same period in 2023, reflecting a 22.8% improvement[35] - Adjusted net loss attributable to Zepp Health Corporation for the three months ended March 31, 2024, was RMB 89,749, compared to RMB 112,728 for the same period in 2023, indicating a 20.4% reduction[40] Gross Margin and Profitability - Gross margin reached a record high of 36.8%, up from 15.9% in Q1 2023, supported by a favorable product mix and strong performance of self-branded products[6] - Gross profit for the three months ended March 31, 2024, was RMB 105,674, representing a gross margin of 36.8%, compared to RMB 102,845 and a margin of 15.9% in the same period of 2023[35] Expenses - Research and development expenses were US$13.3 million, accounting for 33.5% of revenues, a decrease of 18.4% year-over-year[7] - Selling and marketing expenses were US$10.7 million, a decrease of 10.1% year-over-year, accounting for 26.9% of revenues[8] - Total operating expenses decreased to RMB 219,410 for the three months ended March 31, 2024, down from RMB 253,753, a reduction of 13.5%[35] - Total adjusted operating expenses for the three months ended March 31, 2024, were RMB 203,635, a decrease from RMB 229,761 in the same period of 2023[40] - Share-based compensation expenses for the three months ended March 31, 2024, were RMB 15,775, down from RMB 23,992 in the same period of 2023[41] Cash Flow and Debt Management - The company maintained a positive operating cash flow for the seventh consecutive quarter, with cash reserves of US$132.3 million as of March 31, 2024[13] - The company successfully retired US$46.7 million of debt since Q1 2023 and plans further reductions in the upcoming quarters[13] Future Outlook - For Q2 2024, management expects net revenues between US$40 million and US$55 million, with over 90% expected from self-branded products[16] - The company launched the Amazfit Helio Ring in May 2024, enhancing its product offerings and market competitiveness[1] Asset and Liability Management - As of March 2024, total current assets decreased to RMB 1,981,316 from RMB 2,248,780 as of December 31, 2023, representing a decline of approximately 11.9%[28] - Cash and cash equivalents as of March 2024 were RMB 895,823, down from RMB 949,036 as of December 31, 2023, a decrease of about 5.6%[28] - Total liabilities decreased to RMB 1,792,378 as of March 2024 from RMB 2,007,621 as of December 31, 2023, a reduction of approximately 10.7%[30] - The company's accumulated retained earnings decreased to RMB 625,207 as of March 2024 from RMB 730,731 as of December 31, 2023, a decline of about 14.4%[32] - Total equity as of March 2024 was RMB 2,419,919, down from RMB 2,504,510 as of December 31, 2023, reflecting a decrease of approximately 3.4%[32] Operational Metrics - Total units shipped in Q1 2024 decreased by 65.7% year-over-year to 1.2 million, compared to 3.5 million in Q1 2023[5] - Zepp Health Corporation has shipped over 200 million units of its products, available in more than 90 countries and regions[18] Non-GAAP Measures - Adjusted net income/(loss) and adjusted EBIT are used to evaluate operating results, excluding share-based compensation expenses[19] - The company emphasizes the importance of non-GAAP measures to identify underlying trends in business performance[20] Currency and Operations - The company operates primarily in China, with currency conversions made at a rate of RMB 7.2203 to US$1.00 as of March 29, 2024[23] - Interest income increased to RMB 7,277 for the three months ended March 31, 2024, compared to RMB 4,133 for the same period in 2023, a growth of 76.1%[35] - The weighted average number of ordinary shares used in computing net loss per share was 259,525,679 for both the three months ended March 31, 2024, and 2023[39]

Zepp Health Corporation (NYSE:ZEPP) Q1 2024 Results Conference Call May 20, 2024 7:00 PM ET Company Participants Grace Zhang - Director of IR Wang Huang - Chairman of Board of Directors and CEO Leon Deng - CFO Conference Call Participants Sid Rajeev - Fundamental Resource Corp Operator Hello, ladies and gentlemen. Thank you for standing by for Zepp Health Corporation's First Quarter 2024 Earnings Conference Call. [Operator Instructions] Today's conference call is being recorded. I will now turn the call ove ...

MILPITAS, Calif., May 20, 2024 /PRNewswire/ -- Zepp Health Corporation ("Zepp" or the "Company") (NYSE: ZEPP) today reported revenues of US$39.8 million; a basic and diluted net loss per share of US$0.06; and a basic and diluted net loss per ADS of US$0.23 for the first quarter ended March 31, 2024; adjusted basic and diluted net loss per share of US$0.05; and adjusted basic and diluted net loss per ADS of US$0.19. Each ADS represents four Class A ordinary shares.Mr. Wang 'Wayne' Huang, Chairman and CEO of ...

Core Insights - Zepp Health Corporation announces Amazfit as the Official Sponsor of the Escape from Alcatraz Triathlon, reinforcing its commitment to the triathlete community since 2022 [1] - The Amazfit T-Rex Ultra smartwatch will be provided to selected triathletes, featuring advanced tracking capabilities and durability suited for challenging conditions [2][3] - The Escape from Alcatraz Triathlon has been a prominent event since 1981, attracting over 2,000 participants annually, with a course that includes a 1.5-mile swim, an 18-mile bike ride, and an 8-mile run [3] Company Overview - Zepp Health is a global leader in smart wearables and health technology, with over 200 million units shipped and products available in more than 90 countries [5] - The company operates under several consumer brands, including Amazfit, Zepp Clarity, and Zepp Aura, and utilizes its proprietary Zepp Digital Health Management Platform for user health optimization [5] - Founded in 2013, Zepp Health has over 1,000 employees and has received multiple design awards for its smartwatches [5]

Core Viewpoint - Zepp Health Corporation is currently below compliance standards set by the New York Stock Exchange due to its American depositary shares trading below $1.00 for a consecutive 30 trading-day period [1][2]. Compliance Status - The company has a six-month "Cure Period" to regain compliance with the minimum share price requirement of $1.00 per ADS [2]. - Compliance can be achieved if the closing share price is at least $1.00 on the last trading day of any calendar month during the Cure Period, along with an average closing price of at least $1.00 over the preceding 30 trading days [2]. Company Actions - Zepp Health has communicated its intention to address the deficiency within the Cure Period and is exploring options, including a potential reverse share split, pending board and shareholder approval [3]. - The NYSE notice does not have an immediate impact on the listing of the company's ordinary shares, provided that other listing requirements are met [3]. Company Overview - Zepp Health Corporation is a leader in smart wearables and health technology, focusing on optimizing health, fitness, and wellness through its brands, including Amazfit, Zepp Clarity, and Zepp Aura [4]. - The company has shipped over 200 million units and operates in more than 90 countries and regions [4]. - Founded in 2013 as Huami Corp., the company rebranded to Zepp Health Corporation in February 2021 to emphasize its health focus [4].

Earnings Call Scheduled for 7:00 p.m. ET on May 20, 2024 MILPITAS, Calif., May 8, 2024 /PRNewswire/ -- Zepp Health Corporation ("Zepp Health" or the "Company") (NYSE: ZEPP), a cloud-based healthcare services provider with world-leading smart wearable technology, today announced that it will report its first quarter 2024 unaudited financial results after the market close on Monday, May 20, 2024. Management will hold a conference call at 7:00 p.m. Eastern Time on Monday, May 20, 2024 (7:00 a.m. Beijing Time o ...