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 revenue for FY2025 at NT$108.67 billion, down from NT$112.56 billion in FY2024.

• Net profit attributable to owners was NT$2.99 billion, a decrease from NT$3.45 billion year-over-year, and EPS declined to NT$11.29 from NT$13.04.

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

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

• Consolidated financial statements for 2025 and 2024 were audited with an unmodified opinion, confirming fair presentation in accordance with IFRS and ROC regulations.

Financial highlights

• Operating revenue for 2025 was NT$108.67 billion, down 3.5% year-over-year.

• Operating profit totaled NT$3.35 billion; net profit was NT$2.99 billion.

• Gross profit for FY2025 was NT$14.74 billion, with a gross margin of 9.1%.

• Cash and cash equivalents at year-end 2025 were NT$2.24 billion, down from NT$5.06 billion the previous year.

• Net cash generated from operating activities was NT$3.36 billion, a significant decrease from NT$6.08 billion in FY2024.

Outlook and guidance

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

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

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

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

• The group is preparing for the adoption of new IFRS standards, including IFRS 18, with no material impact expected.