MILPITAS, Calif., Sept. 3, 2024 /PRNewswire/ -- Zepp Health Corporation ("Zepp Health" or the "Company") (NYSE: ZEPP), a global leader in smart wearables and health technology, today announced that its board of directors (the "Board") has appointed Mr. Alain Lam, Mr. Mike Yan Yeung, and Mr. Meihui Fan as new directors, effective from Sep. 1, 2024. Mr. Lam is the CFO of Xiaomi Group ("Xiaomi"), with a wealth of experience in finance, capital markets and corporate governance. Mr. Yeung is the COO of Zepp Heal ...

Zepp Health's Amazfit & HYROX Announce Partnership Reaching Over 300,000Participants Per Season Across EU and US regionsMILPITAS, Calif. , Aug. 29, 2024 /PRNewswire/ -- HYROX, the World Series of Fitness Racing, a Time 100 Most Influential Companies in the World 2024 Winner has today announced its partnership with Zepp Health Corporation ("Zepp Health") (NYSE: ZEPP), a global leader in smart wearables and health technology, through its smart wearable brand, Amazfit.This two-year partnership will see Amazfit ...

Financial Data and Key Metrics Changes - The company reported a net loss for the first half of 2024 that narrowed compared to the previous year, despite a year-over-year decline in sales [7] - Gross margin for the quarter reached 40.3%, marking the highest gross margin in the company's history, driven by an improved product mix and a higher proportion of new products [18][19] - Operating costs for the quarter were $25.3 million, the lowest level in the past year, reflecting a commitment to cost management [20] - The cash balance stood at $129 million at the end of Q2, consistent with the first quarter's cash level [23] Business Line Data and Key Metrics Changes - Self-branded product sales saw a 6% sequential increase, offsetting the decline in Xiaomi branded product sales [17] - The company entered the smart ring category, which represents a $2 billion market growing at a high-double-digit rate [16] Market Data and Key Metrics Changes - The overall smart wearable market is expected to return to growth in 2024, driven by AI-enabled health insights and GenAI services [15] - The company has observed good growth in China and breakthroughs in Europe, particularly in Germany and France [32] Company Strategy and Development Direction - The company is focusing on three key pillars: investing in new technologies, product innovations, and enhancing global visibility through sports sponsorships [8][12] - Upcoming product launches include the T-Rex 3 outdoor smartwatch and Open Wearable Stereo earbuds, aimed at expanding the product lineup and market presence [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the market returning to growth and highlighted the importance of profitability over scale [15][19] - The company anticipates continued growth momentum in the second half of the year, supported by new product launches and rising brand awareness [14][24] Other Important Information - The company is committed to a share buyback program throughout 2024, reflecting confidence in its future [23] - The company is addressing a non-compliance notice from NYSE and is confident in regaining compliance by October 31 [34] Q&A Session Summary Question: What is driving the improvement in gross margins? - The improvement is attributed to optimizing the product mix, launching new products, and reducing clearance activities [25][27] Question: How many new products are planned this year? - The company plans to launch at least three to four products in the second half of the year, compared to two last year [28][29] Question: Any material change in sales by region? - The United States remains a region with significant growth potential, with good growth observed in China and breakthroughs in Europe [31][32] Question: Update on NYSE non-compliance notice? - The company is committed to resolving the issue by either organically increasing the share price or through a reverse split [34] Question: Insights on new product decisions? - The new products aim to offer a complete suite of smart wearable devices, enhancing user experience and health monitoring capabilities [38][39]

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 ...