Autohome (ATHM) Q1 2026 earnings summary

Executive summary

• Launched initiatives to transform from an automotive information platform to a comprehensive automotive service ecosystem, including a major brand refresh, app upgrade, and expansion of new retail and global platforms.

• Expanded global presence with YesAuto launching in Thailand and a cross-border used car export platform going live.

• Achieved record average mobile daily active users surpassing 80 million in March 2026, up 4.9% year-over-year.

• Net revenues for Q1 2026 were RMB 1,048.4 million (US$152.0 million), down from RMB 1,453.8 million year-over-year.

• Advanced AI and large language model integration for both external services and internal operations, driving systematic transformation.

Financial highlights

• Net revenues for Q1 2026 were RMB 1.05 billion.

• Media services revenue: RMB 162.7 million; leads generation services: RMB 503.5 million; online marketplace and others: RMB 382.3 million.

• Cost of revenues: RMB 257 million, down from RMB 316 million in Q1 2025.

• Non-GAAP basic and diluted EPS: RMB 0.39, up from RMB 0.18 in Q1 2025.

• Operating loss: RMB 34.4 million, compared to operating profit of RMB 233.4 million in Q1 2025.

Outlook and guidance

• Focus remains on emerging growth areas, stringent cost controls, and long-term shareholder value.

• Plans to expand the online car purchase model to more cities after successful pilots in Xi'an and Shenzhen.

• Expects new and used car transaction businesses to become future growth engines.

• Continued investment in platform transformation and global expansion.