iHuman Inc. Announces Fourth Quarter and Fiscal Year 2025 Unaudited Financial Results
Rhea-AI Summary
iHuman (NYSE: IH) reported unaudited Q4 2025 and full-year results. Q4 revenue was RMB190.7 million (US$27.3M), down from RMB232.7 million a year earlier. FY2025 revenue was RMB807.0 million (US$115.4M), down from RMB922.2 million in 2024. Net income for FY2025 was RMB95.4 million (US$13.6M). Average total MAUs were 24.98 million for FY2025. The board approved a special cash dividend of US$0.02 per ordinary share (US$0.10 per ADS), totaling ~US$5.1 million, payable in May 2026.
Positive
- Special dividend of US$0.10 per ADS (~US$5.1M aggregate)
- Research & development expenses -15.9% YoY in FY2025
- Total operating expenses -15.4% YoY in FY2025
- Cash and short-term investments of RMB1,151.1M at year-end
Negative
- Revenue -12.5% YoY in FY2025 (RMB922.2M to RMB807.0M)
- Gross profit -14.5% YoY in FY2025 (RMB640.2M to RMB547.6M)
- Deferred revenue and customer advances -22.4% YoY (RMB283.3M to RMB219.9M)
News Market Reaction – IH
In the Mar 31 session, IH gained 1.49%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Dec 29 | Q3 2025 earnings | Neutral | -0.9% | Q3 2025 revenue decline but continued profitability and strong cash balance. |
| Sep 18 | Q2 2025 earnings | Neutral | -3.6% | Q2 2025 revenue drop offset by higher net income and cost optimization. |
| Jun 26 | Q1 2025 earnings | Neutral | -3.4% | Q1 2025 revenue decline with higher net income and steady MAUs. |
| Mar 25 | Q4/FY 2024 earnings | Neutral | -2.3% | FY2024 revenue down but MAUs up and special dividend announced. |
| Dec 26 | Q3 2024 earnings | Neutral | +0.1% | Q3 2024 revenue decline with record MAUs and continued profitability. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have typically produced modest negative moves around -2%, even when profitability was maintained.
Over the past year, iHuman’s earnings updates have shown consistent profitability but recurring revenue pressure. Q4 and FY2024 results highlighted declining revenues yet ongoing dividends and AI-driven product expansion. Q1–Q3 2025 continued the theme: revenues trended down while net income stayed positive and cash remained strong, supported by new devices, content partnerships, and U.S. expansion. Today’s Q4/FY2025 release again reports lower revenues and MAUs but sustained profitability and another special dividend, extending this mixed but resilient trajectory.
Key Terms
maus technical
daus technical
ads financial
non-gaap financial measures financial
u.s. gaap regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Fourth Quarter 2025 Highlights
- Revenues were
RMB190 .7 million (US ), compared with$27.3 million RMB232.7 million in the same period last year. - Gross profit was
RMB127 .5 million (US ), compared with$18.2 million RMB156.4 million in the same period last year. - Operating income was
RMB9.0 million (US ), compared with$1.3 million RMB14.9 million in the same period last year. - Net income was
RMB15.4 million (US ), compared with$2.2 million RMB26.5 million in the same period last year. - Average total MAUs[1] for the fourth quarter were 23.57 million, compared with 25.78 million in the same period last year.
Fiscal Year 2025 Highlights
- Revenues were
RMB807.0 million (US ), compared with$115.4 million RMB922.2 million in fiscal year 2024. - Gross profit was
RMB547.6 million (US ), compared with$78.3 million RMB640.2 million in fiscal year 2024. - Operating income was
RMB66.8 million (US ), compared with$9.5 million RMB71.9 million in fiscal year 2024. - Net income was
RMB95.4 million (US ), compared with$13.6 million RMB98.6 million in fiscal year 2024. - Average total MAUs were 24.98 million, compared with 26.47 million in fiscal year 2024.
[1] "Average total MAUs" refers to the monthly average of the sum of the MAUs of each of the Company's apps during a specific period, which is counted based on the number of unique mobile devices through which such app is accessed at least once in a given month, and duplicate access to different apps is not eliminated from the total MAUs calculation. |
Dr. Peng Dai, Director and Chief Executive Officer of iHuman, commented, "During the fourth quarter, we effectively executed our key strategic initiatives, maintaining operational resilience amid a complex environment. As shifting demographic trends reshape the childhood education landscape, we have proactively evolved our product portfolio to ensure long-term sustainability.
A cornerstone of this evolution is our strategic expansion into broader user segments. In the fourth quarter, we launched FreeTalk, an AI-native oral English application designed for a broad spectrum of learners seeking to improve their spoken English across general, academic, and professional contexts. By providing on-demand access to highly realistic AI-powered digital tutors, FreeTalk effectively lowers the barriers to mastering spoken English while creating a flexible, judgment-free environment that helps mitigate speaking anxiety. At the same time, the app allows users to progress through structured learning materials at their own pace and tailor learning content to their individual needs, significantly improving learning efficiency. Powered by advanced speech recognition and generative AI, the platform helps strengthen overall English communication skills by delivering immersive, guided dialogue with real-time adaptive feedback, helping learners refine their pronunciation, fluency, grammar, and vocabulary across a wide range of real-world scenarios. The launch of FreeTalk marks a significant milestone in our strategic expansion beyond childhood education, broadening our total addressable market, extending the user lifecycle, and diversifying our long-term growth opportunities.
Alongside these initiatives, we continued to drive product innovation across our core offerings. Within iHuman Chinese, we introduced a new interactive "Animal Park" module designed around an innovative learning cycle that combines knowledge discovery with built-in review. Children can unlock different animals as they master new Chinese characters, while reinforcement is seamlessly embedded into frequent, engaging interactions such as feeding and cleaning. By integrating literacy learning with edutainment-driven progression, the module adds elements of joy and motivation that enhance engagement and reinforce learning outcomes. We also expanded our smart device portfolio with iHuman AI Bilingual Early Learning Tablet. This device offers families a secure, one-stop learning solution that integrates our comprehensive content ecosystem of stories, animations, songs, and interactive activities. In addition, the tablet features certified eye-protection capabilities and a child-friendly form factor, promoting healthy usage habits while fostering a genuine love of learning.
Our Kunpeng Animation Studio continued to make steady progress in advancing our original animation content and IP. Building on the success of the first Cosmicrew movie, we recently launched the franchise's second installment Ice Planet, further strengthening its presence among young audiences. To complement the movie's theatrical screenings, we organized a series of offline fan engagement activities, creating opportunities for children to interact directly with the characters. These in-person experiences extended engagement beyond the screen, deepening audience connection and brand affinity.
Looking into 2026, we will continue to execute with focus and discipline, advancing our product innovation, content strength, and technology to further enhance user experience and learning effectiveness. While navigating an evolving environment, we remain committed to prudent operations and long-term sustainability, with the aim of creating enduring value for users and shareholders."
Ms. Vivien Weiwei Wang, Director and Chief Financial Officer of iHuman, added, "During the quarter, we made solid progress in our international expansion with our global offerings gaining broader market recognition. Aha World, our open-ended, creativity-driven digital world designed to encourage exploration and imagination, delivered particularly strong performance. From Thanksgiving through the New Year period, daily active users (DAUs) on the
Reflecting our confidence in the business and commitment to shareholder returns, our board of directors has approved a special cash dividend of
Looking ahead, we are encouraged by our resilient business performance and believe our differentiated, content-driven portfolio positions us well to continue building our global presence and creating long-term value."
Fourth Quarter 2025 Unaudited Financial Results
Revenues
Revenues were
Average total MAUs for the quarter were 23.57 million, compared with 25.78 million in the same period last year. The decrease in MAUs was primarily due to the decline in
Cost of Revenues
Cost of revenues was
Gross Profit and Gross Margin
Gross profit was
Operating Expenses
Total operating expenses were
Research and development expenses were
Sales and marketing expenses were
General and administrative expenses were
Operating Income
Operating income was
Net Income
Net income was
Basic and diluted net income per ADS were
Deferred Revenue and Customer Advances
Deferred revenue and customer advances were
Cash, Cash Equivalents and Short-term Investments
Cash, cash equivalents and short-term investments were
Fiscal Year 2025 Unaudited Financial Results
Revenues
Revenues were
Average total MAUs were 24.98 million, compared with 26.47 million in fiscal year 2024. The decrease in MAUs was primarily due to the decline in
Cost of Revenues
Cost of revenues was
Gross Profit and Gross Margin
Gross profit was
Operating Expenses
Total operating expenses were
Research and development expenses were
Sales and marketing expenses were
General and administrative expenses were
Operating Income
Operating income was
Net Income
Net income was
Basic and diluted net income per ADS were
Special Cash Dividend
To deliver return of capital to shareholders, the Company's board of directors (the "Board") approved a special cash dividend of
Exchange Rate Information
The
Non-GAAP Financial Measures
iHuman considers and uses non-GAAP financial measures, such as adjusted operating income, adjusted net income and adjusted diluted net income per ADS, as supplemental metrics in reviewing and assessing its operating performance and formulating its business plan. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in
Non-GAAP financial measures are not defined under
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about iHuman's beliefs and expectations, are forward-looking statements. Among other things, the description of the management's quotations in this announcement contains forward-looking statements. iHuman may also make written or oral forward-looking statements in its periodic reports to the
About iHuman Inc.
iHuman Inc. is a leading provider of tech-powered, intellectual development products in
For more information about iHuman, please visit: https://ir.ihuman.com/
For investor and media enquiries, please contact:
iHuman Inc.
Mr. Justin Zhang
Investor Relations Director
Phone: +86-10-5780-6606
E-mail: ir@ihuman.com
Christensen Advisory
Ms. Alice Li
Phone: +86-10-5900-1548
E-mail: ihumangroup@christensencomms.com
iHuman Inc. | |||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | |||||
(Amounts in thousands of Renminbi ("RMB") and except for number of shares, ADSs, per share and per ADS data) | |||||
December 31, | December 31, | December 31, | |||
2024 | 2025 | 2025 | |||
RMB | RMB | US$ | |||
ASSETS | |||||
Current assets | |||||
Cash and cash equivalents | 1,123,292 | 1,151,120 | 164,608 | ||
Short-term investments | 45,457 | - | - | ||
Accounts receivable, net | 52,030 | 47,070 | 6,731 | ||
Inventories, net | 23,475 | 21,388 | 3,058 | ||
Amounts due from related parties | 2,051 | 4,314 | 617 | ||
Prepayments and other current assets | 89,512 | 74,483 | 10,651 | ||
Total current assets | 1,335,817 | 1,298,375 | 185,665 | ||
Non-current assets | |||||
Property and equipment, net | 3,476 | 2,563 | 367 | ||
Intangible assets, net | 16,429 | 17,634 | 2,522 | ||
Operating lease right-of-use assets | 14,885 | 11,586 | 1,657 | ||
Long-term investment | 26,333 | 26,333 | 3,766 | ||
Other non-current assets | 22,701 | 11,864 | 1,696 | ||
Total non-current assets | 83,824 | 69,980 | 10,008 | ||
Total assets | 1,419,641 | 1,368,355 | 195,673 | ||
LIABILITIES | |||||
Current liabilities | |||||
Accounts payable | 30,233 | 25,083 | 3,587 | ||
Deferred revenue and customer advances | 283,251 | 219,913 | 31,447 | ||
Amounts due to related parties | 1,734 | 1,066 | 152 | ||
Accrued expenses and other current liabilities | 126,501 | 115,749 | 16,552 | ||
Dividend payable | 2,164 | - | - | ||
Current operating lease liabilities | 3,661 | 2,166 | 310 | ||
Total current liabilities | 447,544 | 363,977 | 52,048 | ||
Non-current liabilities | |||||
Non-current operating lease liabilities | 11,252 | 9,208 | 1,317 | ||
Total non-current liabilities | 11,252 | 9,208 | 1,317 | ||
Total liabilities | 458,796 | 373,185 | 53,365 | ||
SHAREHOLDERS' EQUITY | |||||
Ordinary shares (par value of 700,000,000 Class A shares authorized as of December 31, 2024 and December 31, 2025; 125,122,382 Class A shares issued and 116,084,207 outstanding as of December 31, 2024; 125,122,382 Class A shares issued and 111,541,887 outstanding as of December 31, 2025; 200,000,000 Class B shares authorized, 144,000,000 Class B ordinary shares issued and outstanding as of December 31, 2024 and December 31, 2025; 100,000,000 shares (undesignated) authorized, nil shares (undesignated) issued and outstanding as of December 31, 2024 and December 31, 2025) | 185 | 186 | 27 | ||
Additional paid-in capital | 996,657 | 960,641 | 137,370 | ||
Treasury stock | (26,296) | (43,483) | (6,218) | ||
Statutory reserves | 8,395 | 8,463 | 1,210 | ||
Accumulated other comprehensive income | 24,009 | 16,134 | 2,307 | ||
Retained earnings (accumulated deficit) | (42,105) | 53,229 | 7,612 | ||
Total shareholders' equity | 960,845 | 995,170 | 142,308 | ||
Total liabilities and shareholders' equity | 1,419,641 | 1,368,355 | 195,673 | ||
iHuman Inc. | |||||||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||
(Amounts in thousands of Renminbi ("RMB") and except for number of shares, ADSs, per share and per ADS data) | |||||||||||||
For the three months ended | For the year ended | ||||||||||||
December 31, | September 30, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||
2024 | 2025 | 2025 | 2025 | 2024 | 2025 | 2025 | |||||||
RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||
Revenues | 232,684 | 205,764 | 190,654 | 27,263 | 922,201 | 807,019 | 115,402 | ||||||
Cost of revenues | (76,243) | (65,134) | (63,198) | (9,037) | (282,048) | (259,409) | (37,095) | ||||||
Gross profit | 156,441 | 140,630 | 127,456 | 18,226 | 640,153 | 547,610 | 78,307 | ||||||
Operating expenses | |||||||||||||
Research and development expenses | (63,308) | (55,294) | (44,930) | (6,425) | (247,757) | (208,443) | (29,807) | ||||||
Sales and marketing expenses | (54,109) | (45,720) | (52,715) | (7,538) | (221,230) | (180,969) | (25,878) | ||||||
General and administrative expenses | (24,106) | (22,949) | (20,808) | (2,976) | (99,254) | (91,442) | (13,076) | ||||||
Total operating expenses | (141,523) | (123,963) | (118,453) | (16,939) | (568,241) | (480,854) | (68,761) | ||||||
Operating income | 14,918 | 16,667 | 9,003 | 1,287 | 71,912 | 66,756 | 9,546 | ||||||
Other income, net | 12,245 | 5,318 | 6,941 | 993 | 38,689 | 35,033 | 5,010 | ||||||
Income before income taxes | 27,163 | 21,985 | 15,944 | 2,280 | 110,601 | 101,789 | 14,556 | ||||||
Income tax expenses | (682) | (400) | (534) | (76) | (12,012) | (6,387) | (913) | ||||||
Net income | 26,481 | 21,585 | 15,410 | 2,204 | 98,589 | 95,402 | 13,643 | ||||||
Net income per ADS: | |||||||||||||
- Basic | 0.51 | 0.42 | 0.30 | 0.04 | 1.88 | 1.86 | 0.27 | ||||||
- Diluted | 0.49 | 0.40 | 0.29 | 0.04 | 1.82 | 1.78 | 0.25 | ||||||
Weighted average number of ADSs: | |||||||||||||
- Basic | 52,097,127 | 51,201,957 | 51,105,266 | 51,105,266 | 52,400,383 | 51,395,037 | 51,395,037 | ||||||
- Diluted | 53,965,183 | 53,434,919 | 53,305,240 | 53,305,240 | 54,239,751 | 53,522,994 | 53,522,994 | ||||||
Total share-based compensation expenses included in: | |||||||||||||
Cost of revenues | 18 | 8 | 6 | 1 | 106 | 31 | 4 | ||||||
Research and development expenses | 273 | 87 | 98 | 14 | 1,303 | 362 | 52 | ||||||
Sales and marketing expenses | 34 | 16 | 14 | 2 | 164 | 62 | 9 | ||||||
General and administrative expenses | 229 | 85 | 83 | 12 | 1,251 | 267 | 38 | ||||||
iHuman Inc. | |||||||||||||
UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS | |||||||||||||
(Amounts in thousands of Renminbi ("RMB") and except for number of shares, ADSs, per share and per ADS data) | |||||||||||||
For the three months ended | For the year ended | ||||||||||||
December 31, | September 30, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||
2024 | 2025 | 2025 | 2025 | 2024 | 2025 | 2025 | |||||||
RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||
Operating income | 14,918 | 16,667 | 9,003 | 1,287 | 71,912 | 66,756 | 9,546 | ||||||
Share-based compensation expenses | 554 | 196 | 201 | 29 | 2,824 | 722 | 103 | ||||||
Adjusted operating income | 15,472 | 16,863 | 9,204 | 1,316 | 74,736 | 67,478 | 9,649 | ||||||
Net income | 26,481 | 21,585 | 15,410 | 2,204 | 98,589 | 95,402 | 13,643 | ||||||
Share-based compensation expenses | 554 | 196 | 201 | 29 | 2,824 | 722 | 103 | ||||||
Adjusted net income | 27,035 | 21,781 | 15,611 | 2,233 | 101,413 | 96,124 | 13,746 | ||||||
Diluted net income per ADS | 0.49 | 0.40 | 0.29 | 0.04 | 1.82 | 1.78 | 0.25 | ||||||
Impact of non-GAAP adjustments | 0.01 | 0.01 | 0.00 | 0.00 | 0.05 | 0.02 | 0.01 | ||||||
Adjusted diluted net income per ADS | 0.50 | 0.41 | 0.29 | 0.04 | 1.87 | 1.80 | 0.26 | ||||||
Weighted average number of ADSs – diluted | 53,965,183 | 53,434,919 | 53,305,240 | 53,305,240 | 54,239,751 | 53,522,994 | 53,522,994 | ||||||
Weighted average number of ADSs – adjusted | 53,965,183 | 53,434,919 | 53,305,240 | 53,305,240 | 54,239,751 | 53,522,994 | 53,522,994 | ||||||
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SOURCE iHuman Inc.