Viomi Technology (VIOT) Q2 2025 earnings summary

Executive summary

• Net revenues for the first half of 2025 rose 76.6% year-over-year to RMB1,477.6 million (US$206.3 million), driven by strong growth in home water systems.

• Net income attributable to ordinary shareholders increased 64.7% year-over-year to RMB120.4 million (US$16.8 million), with a net margin of 8.2%.

• Strategic reorganization in August 2024, with divestiture of IoT @ Home portfolio (excluding range hoods, gas stoves, water heaters), focusing on core water solutions.

• Significant product innovation and global expansion, including launches in North America, Malaysia, and China.

Financial highlights

• Gross profit reached RMB391.2 million (US$54.6 million), up from RMB259.2 million a year ago; gross margin declined to 26.5% from 31.0% due to product mix shift.

• Operating income was RMB118.8 million (US$16.6 million), up from RMB72.5 million; non-GAAP operating income was RMB126.0 million (US$17.6 million).

• Non-GAAP net income attributable to ordinary shareholders was RMB127.6 million (US$17.8 million), up 52.5% year-over-year.

• Cash and cash equivalents as of June 30, 2025, were RMB709.2 million (US$99.0 million); short-term deposits and investments totaled RMB484.8 million (US$67.7 million).

Outlook and guidance

• Plans to accelerate overseas channel expansion, strengthen Kunlun Series positioning, advance technological innovation, and deepen strategic partnerships.

• Focus on long-term, sustainable value creation through global water strategy and leveraging Gigafactory scale.