Core Insights - New Oxygen (SY.US) reported Q3 revenue of $54.3 million, a 4.0% year-over-year increase, exceeding market expectations; the company recorded a loss of $0.09 per share [1] - Revenue from beauty treatment services surged 304.6% year-over-year to RMB 183.6 million ($25.8 million), surpassing guidance [1] - The number of verified treatment visits at brand beauty centers exceeded 89,800 in Q3, compared to approximately 23,600 in the same period last year [1] Financial Performance - Active users visiting brand beauty centers over the 12 months ending September 30, 2025, exceeded 130,000, up from about 30,300 year-over-year [1] - The number of core users increased by over 10,000 in the quarter, achieving a 40% quarter-over-quarter growth; these core members contributed 88% of beauty care service revenue with a quarterly repurchase rate of approximately 70% [1] - As of September 30, 2025, total cash and cash equivalents, restricted cash, time deposits, and short-term investments amounted to RMB 942.8 million (approximately $132.4 million), down from RMB 1.2532 billion as of December 31, 2024, primarily due to increased investments in brand beauty centers [1] Future Outlook - For Q4 2025, New Oxygen expects revenue from beauty care services to be between RMB 216 million (approximately $30.3 million) and RMB 226 million (approximately $31.7 million), representing a year-over-year growth of 165.8% to 178.1% [2]