Momo.com (8454) Q4 2025 earnings summary

Executive summary

• 2025 was challenging with a soft retail and e-commerce market, aggressive new entrants, and the first negative revenue growth in recent years, with FY2025 revenue at NTD 108,665.9 million, down from NTD 112,563.6 million in FY2024.

• Net profit attributable to owners was NTD 2,991.3 million, and EPS declined to NTD 11.29 from NTD 13.04 year-over-year.

• Annual active users increased by 3% year-over-year.

• The company is focused on expanding brand partnerships, increasing high-value customer stickiness, and growing its 3P business.

• 2026 focus is on GMV growth and market share expansion, leveraging a hybrid 1P plus 3P strategy and logistics leadership.

Financial highlights

• Gross profit for FY2025 was NTD 14,735.7 million, down from NTD 15,293.8 million year-over-year.

• Operating profit totaled NTD 3,351.7 million; EPS was NTD 11.29.

• Take rate remained stable at 13.6%, supported by 3P marketplace and advertising revenue.

• Cash and cash equivalents stood at NTD 2,241.3 million as of December 31, 2025, down from NTD 5,059.5 million the previous year.

• Net cash generated from operating activities was NTD 3,355.4 million, a significant decrease from NTD 6,075.5 million in FY2024.

Outlook and guidance

• 2026 strategy centers on GMV growth and market share, with continued investment in logistics and technology.

• Ongoing investments in warehouse automation and in-house logistics to support future growth.

• Expansion of the momo Coins ecosystem and addition of third-party partners to enhance customer value in 2026.

• 3P and advertising businesses expected to be profitable at the overall level in 2026.

• Taiwan's e-commerce penetration is at 14%, with significant room for growth toward global levels.