Here Group Posts RMB164.7 Million Q3 Sales, Cuts FY2026 Guidance 23%
HERE•Here Group reported Q3 FY2026 revenues of RMB164.7 million (US$23.9 million), down from RMB177.3 million in Q2, with net loss rising to RMB34.1 million (US$4.9 million) and adjusted loss of RMB22.9 million (US$3.3 million). Full-year revenue guidance was cut to RMB600–610 million from RMB750–800 million.
1. Third Quarter FY2026 Results
Here Group generated RMB164.7 million (US$23.9 million) in revenues for Q3 FY2026, down from RMB177.3 million in the prior quarter. Net loss increased to RMB34.1 million (US$4.9 million) with an adjusted net loss of RMB22.9 million (US$3.3 million), supported by a portfolio of 20 IPs, including 12 proprietary and 8 licensed.
2. Expense and Margin Analysis
Cost of revenues stood at RMB107.9 million (US$15.6 million), while sales and marketing expenses reached RMB57.7 million (US$8.4 million). Research and development expenses were RMB9.5 million (US$1.4 million) and general and administrative costs totaled RMB33.6 million (US$4.9 million). Gross margin improved sequentially as strategic cost refinements took effect.
3. Revised Financial Outlook
The company projects Q4 FY2026 revenues of RMB130–140 million and has lowered full-year guidance to RMB600–610 million from a prior range of RMB750–800 million, reflecting holiday impacts and market conditions. Management highlights disciplined execution and adjusted product launch cadence to align with demand.
4. Share Repurchase Programs
Under the 2025 repurchase program, 2.3 million ADSs have been bought back for US$12.8 million to June 1, 2026. A new 2026 program authorizes up to US$20 million of Class A ADS repurchases, reinforcing capital allocation discipline and shareholder value enhancement.
