Viomi Technology Co., Ltd Reports First Half 2026 Unaudited Financial Results
Rhea-AI Summary
Viomi Technology (NASDAQ: VIOT) reported unaudited results for the six months ended June 30, 2026. Net revenues were RMB740.0 million, down 49.9% year over year from RMB1,477.6 million, mainly due to the phase-out of national subsidies and a high prior-year base. Home water systems revenue fell 55.3% to RMB473.4 million, while consumables grew 6.9% to RMB131.7 million; kitchen appliances and others declined 54.4% to RMB134.9 million.
Gross profit was RMB177.7 million with a 24.0% gross margin, compared with 26.5% a year earlier. Loss from operations was RMB50.7 million versus prior operating income of RMB118.8 million, and net loss attributable to ordinary shareholders was RMB26.3 million versus net income of RMB120.4 million. Total operating expenses decreased 12.2% to RMB247.0 million, with selling and marketing and general and administrative expenses both reduced, while R&D rose 7.6% to RMB96.1 million.
As of June 30, 2026, Viomi held cash and cash equivalents of RMB603.8 million, restricted cash of RMB153.3 million, short-term deposits of RMB279.2 million, and short-term investments of RMB120.8 million. According to Viomi, the Board approved a special cash dividend in March 2026 of US$0.022 per ordinary share (US$0.066 per ADS), and the company had cumulatively repurchased about 2.4 million ADSs for US$3.8 million, with US$16.2 million remaining authorized for buybacks. Management highlighted continued overseas channel expansion, particularly in North America and Southeast Asia, and ongoing investment in water system technologies and its Water Purifier Gigafactory.
Positive
- Consumables revenue +6.9% YoY to RMB131.7 million, supported by a larger installed base
- Total operating expenses -12.2% YoY to RMB247.0 million, reflecting lower selling and marketing and G&A
- G&A expenses -34.3% YoY to RMB41.4 million due to tighter cost control
- R&D spending +7.6% YoY to RMB96.1 million, supporting new technology development
- Strong liquidity with RMB603.8m cash, RMB153.3m restricted cash, RMB279.2m short-term deposits, and RMB120.8m short-term investments as of June 30, 2026
- Shareholder returns: special dividend of US$0.022 per ordinary share and 2.4 million ADSs repurchased for US$3.8 million
Negative
- Net revenues -49.9% YoY to RMB740.0 million in first half 2026
- Home water systems revenue -55.3% YoY to RMB473.4 million after subsidy phase-out
- Kitchen appliances and others revenue -54.4% YoY to RMB134.9 million
- Gross margin declined to 24.0% from 26.5% a year earlier
- Operating result swung to loss: RMB50.7 million loss vs RMB118.8 million income in 2025 period
- Net income turned to loss: RMB26.3 million net loss vs RMB120.4 million net income a year earlier
News Explained
By June 30, 2026, reported shares outstanding were lower than year-end, while cash and equivalents had fallen.
The
The balance sheet also lists Class A shares issued and outstanding at 95,171,125 on
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Nov 10 | First-half earnings | Positive | -6.6% | Revenue and net income rose year over year, but shares fell 6.6%. |
| Mar 25 | Full-year earnings | Positive | -18.5% | Full-year revenue increased and profitability improved, but shares fell 18.49%. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Both prior tag-specific earnings events reported positive operating developments yet were followed by negative 24-hour reactions.
Key Terms
non-gaap operating loss financial
ads financial
restricted cash financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
FOSHAN, China, Aug. 27, 2026 (GLOBE NEWSWIRE) -- Viomi Technology Co., Ltd (“Viomi”, the “Company” or “we”) (NASDAQ: VIOT), a leading global technology company for home water systems, today announced its unaudited financial results for the six months ended June 30, 2026.
First Half 2026 Financial Overview
- Net revenues were RMB740.0 million (US
$109.1 million ), compared to RMB1,477.6 million for the same period of 2025. - Gross margin was
24.0% .
Mr. Xiaoping Chen, Founder and CEO of Viomi, commented, “During the first half of 2026, the phase-out of national subsidy policies for our core product categories led to a temporary contraction in market demand. Coupled with a high base effect from the prior year, this resulted in a decline in the Company’s total revenues to RMB740.0 million, down
“On overseas channel expansion, the Company is making progress on multiple fronts. In North America, we are leveraging synergies across online and offline channels to accelerate the establishment of a comprehensive market presence. Our Amazon e-commerce business sustained strong momentum with triple-digit year-over-year growth in the first half, including a robust Prime Day performance, where our flagship product V6 Pro ranked among the Top 8 in the under-sink tankless RO category. At the same time, we are actively expanding into offline retail and professional channels to build a more diversified product and brand matrix. Our presence at international trade shows, such as the WQA convention in the United States, has steadily enhanced our professional brand image and global visibility.”
“In Southeast Asia, building upon our established channel presence in Malaysia, we have continued to expand our regional footprint, successfully entering the Singapore market and exhibiting at the Consumer Electronics Exhibition 2026 (CEE) in May, further enhancing our brand influence across the region. Additionally, in partnership with overseas strategic clients, we have successfully penetrated the Turkish market, leveraging our Water Purifier Gigafactory’s agile supply chain and quality advantages to add another strategic pillar to our global footprint.”
“On the technology and product front, the Company continued to increase R&D investments, focusing on breakthroughs in cooling and ice-making technologies. Our higher-integration product formats are extending usage scenarios from home to office environments, while iterative upgrades to our multi-functional faucets further address increasingly diversified household water usage needs. Our Water Purifier Gigafactory’s modular production lines and agile manufacturing capabilities enable us to rapidly respond to customized product development across multiple categories and regions, while maximizing production efficiency and continuously optimizing manufacturing costs. These capabilities provide a solid foundation for the commercialization and scaled deployment of our technological innovations.”
“With respect to shareholder returns, the Company remains committed to its long-term pledge. In March 2026, the Board of Directors approved a special cash dividend of US
“Looking to the second half of the year, the Company will focus on the following key operational improvement initiatives: first, pursuing more targeted expansion in overseas markets, deepening our presence in core strategic markets such as North America and Southeast Asia, while improving localized operational efficiency; second, actively broadening our base of overseas strategic clients to fully leverage our Water Purifier Gigafactory’s scale effects and cost advantages; and third, comprehensively improving operational efficiency and optimizing our cost structure to return to profitability at the earliest opportunity and continue to generate sustainable returns for shareholders,” Mr. Chen concluded.
First Half 2026 Financial Results
REVENUES
Net revenues were RMB740.0 million (US
- Home water systems. Revenues from home water systems were RMB473.4 million (US
$69.8 million ), a decrease of55.3% from RMB1,058.3 million for the same period of 2025, primarily due to the decline in national subsidies for water purifiers.
- Consumables. Revenues from consumables were RMB131.7 million (US
$19.4 million ), an increase of6.9% from RMB123.2 million for the same period of 2025, driven by the growing installed base of water purifiers, which boosted consumable revenue and partially offset the broader decline.
- Kitchen appliances and others. Revenues from kitchen appliances and others were RMB134.9 million (US
$19.9 million ), a decrease of54.4% from RMB296.1 million for the same period of 2025, primarily due to a reduction in orders from Xiaomi, as well as a strategic contraction of Viomi-branded products in this category.
GROSS PROFIT
Gross profit was RMB177.7 million (US
OPERATING EXPENSES
Total operating expenses were RMB247.0 million (US
Research and development expenses were RMB96.1 million (US
Selling and marketing expenses were RMB109.6 million (US
General and administrative expenses were RMB41.4 million (US
INCOME (LOSS) FROM OPERATIONS
Loss from operations was RMB50.7 million (US
Non-GAAP operating loss1 was RMB44.1 million (US
NET INCOME (LOSS)
Net loss attributable to ordinary shareholders of the Company was RMB26.3 million (US
Non-GAAP net loss attributable to ordinary shareholders2 of the Company was RMB19.6 million (US
____________________________
1 “Non-GAAP operating income (loss)” is defined as income (loss) from operations excluding share-based compensation expenses. See “Use of Non-GAAP Measures” and “Reconciliation of GAAP and Non-GAAP Results” included in this press release.
2 “Non-GAAP net income (loss) attributable to ordinary shareholders of the Company” is defined as net income (loss) attributable to ordinary shareholders of the Company excluding share-based compensation expenses. See “Use of Non-GAAP Measures” and “Reconciliation of GAAP and Non-GAAP Results” included in this press release.
BALANCE SHEET
As of June 30, 2026, the Company had cash and cash equivalents of RMB603.8 million (US
About Viomi Technology
Viomi’s mission is “AI for Better water,” utilizing AI technology to provide better drinking water solutions for households worldwide.
As an industry-leading technology company in home water systems, Viomi has developed a distinctive “Equipment + Consumables” business model. By leveraging its expertise in AI technology, intelligent hardware and software development, the Company simplifies filter replacement and enhances water quality monitoring, thereby increasing the filter replacement rate. Its continuous technological innovations extend filter lifespan and lower user costs, promoting the adoption of water purifiers and supporting a healthy lifestyle while effectively addressing the rising global demand for cleaner, fresher and healthier drinking water. The Company operates a world-leading “Water Purifier Gigafactory” with an integrated industrial chain that boasts optimal efficiency and facilitates continuous breakthroughs in water purification. This state-of-the-art facility enables Viomi to achieve economies of scale and accelerate the global popularization of residential water filtration.
For more information, please visit: http://ir.viomi.com.
Use of Non-GAAP Measures
The Company uses non-GAAP operating income/(loss), non-GAAP net income/(loss), and non-GAAP net income/(loss) attributable to ordinary shareholders of the Company, in evaluating its operating results and for financial and operational decision-making purposes. Non-GAAP operating income/(loss) is income/(loss) from operations excluding share-based compensation expenses. Non-GAAP net income/(loss) is net income/(loss) excluding share-based compensation expenses. Non-GAAP net income/(loss) attributable to ordinary shareholders of the Company is net income/(loss) attributable to ordinary shareholders excluding share-based compensation expenses. The non-GAAP adjustments do not have any tax impact as share-based compensation expenses are non-deductible for income tax purposes.
The Company believes that non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, which are non-cash charges, and these measures provide useful information about the Company’s operating results, enhance the overall understanding of the Company’s past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.
Non-GAAP financial measures should not be considered in isolation or construed as alternative to income from operations, net income, or any other measure of performance or as an indicator of the Company’s operating performance. Investors are encouraged to review the historical non-GAAP financial measures to the most directly comparable GAAP measures. Non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. We encourage investors and others to review its financial information in its entirety and not rely on a single financial measure. Reconciliations of the Company’s non-GAAP financial measures to the most directly comparable GAAP measures are included at the end of this press release.
Exchange Rate
The Company’s business is primarily conducted in China and the significant majority of revenues generated are denominated in Renminbi (“RMB”). This announcement contains currency conversions of RMB amounts into U.S. dollars (“US$”) solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB6.7851 to US
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. 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,” “confident” and similar statements. Among other things, the estimated revenue and income from operations from the Continuing Businesses, the business outlook and quotations from management in this announcement, as well as Viomi’s strategic and operational plans, contain forward-looking statements. Viomi may also make written or oral forward-looking statements in its periodic reports to the United States Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; the cooperation with Xiaomi; recognition of the Company’s brand; trends and competition in the global IoT-enabled smart home market; the development and commercialization of new products, services and technologies; governmental policies and the relevant regulatory environment relating to the Company’s industry and/or aspects of its business operations; general economic conditions in China and around the globe; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Viomi Technology Co., Ltd
Claire Ji
E-mail: ir@viomi.com.cn
Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
E-mail: viomi@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: viomi@tpg-ir.com
| VIOMI TECHNOLOGY CO., LTD UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except shares, ADS, per share and per ADS data) | |||||||||
| As of December 31, | As of June 30, | ||||||||
| 2025 | 2026 | 2026 | |||||||
| RMB | RMB | US$ | |||||||
| Assets | |||||||||
| Current assets | |||||||||
| Cash and cash equivalents | 806,599 | 603,790 | 88,988 | ||||||
| Restricted cash | 164,431 | 153,338 | 22,599 | ||||||
| Short-term deposits | 257,950 | 279,247 | 41,156 | ||||||
| Short-term investments | 82,598 | 120,805 | 17,804 | ||||||
| Accounts and notes receivable from third parties | 24,535 | 27,015 | 3,982 | ||||||
| Accounts receivable from related parties | 340,173 | 389,918 | 57,467 | ||||||
| Other receivables from related parties | 200 | 537 | 79 | ||||||
| Inventories, net | 126,879 | 116,355 | 17,149 | ||||||
| Prepaid expenses and other current assets | 157,096 | 99,361 | 14,644 | ||||||
| Total current assets | 1,960,461 | 1,790,366 | 263,868 | ||||||
| Non-current assets | |||||||||
| Prepaid expenses and other non-current assets | 19,055 | 14,893 | 2,195 | ||||||
| Property, plant and equipment, net | 305,432 | 311,399 | 45,895 | ||||||
| Long-term deposits | 20,101 | 20,260 | 2,986 | ||||||
| Deferred tax assets | 8,415 | 21,737 | 3,204 | ||||||
| Intangible assets, net | 6,255 | 5,631 | 830 | ||||||
| Right-of-use assets, net | 1,646 | 653 | 96 | ||||||
| Land use rights, net | 56,631 | 55,995 | 8,253 | ||||||
| Long-term investment | 12,952 | 36,302 | 5,350 | ||||||
| Total non-current assets | 430,487 | 466,870 | 68,809 | ||||||
| Total assets | 2,390,948 | 2,257,236 | 332,677 | ||||||
| Liabilities and shareholders’ equity | |||||||||
| Current liabilities | |||||||||
| Accounts and notes payable | 517,878 | 473,936 | 69,850 | ||||||
| Advances from customers | 10,153 | 12,275 | 1,809 | ||||||
| Amount due to related parties | 596 | 2,668 | 393 | ||||||
| Accrued expenses and other liabilities | 157,043 | 138,854 | 20,466 | ||||||
| Short-term borrowing | 40,000 | 50,000 | 7,369 | ||||||
| Income tax payables | 1,439 | 5,261 | 775 | ||||||
| Lease liabilities due within one year | 1,310 | 453 | 67 | ||||||
| Long-term borrowing - current portion | 25,061 | 24,959 | 3,679 | ||||||
| Total current liabilities | 753,480 | 708,406 | 104,408 | ||||||
| Non-current liabilities | |||||||||
| Accrued expenses and other liabilities – non-current portion | 53,117 | 51,108 | 7,532 | ||||||
| Long-term borrowing | 51,666 | 39,187 | 5,775 | ||||||
| Lease liabilities | 421 | 237 | 35 | ||||||
| Total non-current liabilities | 105,204 | 90,532 | 13,342 | ||||||
| Total liabilities | 858,684 | 798,938 | 117,750 | ||||||
| Shareholders’ equity | |||||||||
| Class A Ordinary Shares (US | 6 | 6 | 1 | ||||||
| Class B Ordinary Shares (US | 6 | 6 | 1 | ||||||
| Treasury stock | (103,085 | ) | (112,527 | ) | (16,584 | ) | |||
| Additional paid-in capital | 1,414,499 | 1,421,133 | 209,449 | ||||||
| Retained earnings | 226,317 | 169,764 | 25,020 | ||||||
| Accumulated other comprehensive loss | (11,080 | ) | (25,204 | ) | (3,715 | ) | |||
| Total equity attributable to shareholders of the Company | 1,526,663 | 1,453,178 | 214,172 | ||||||
| Non-controlling interests | 5,601 | 5,120 | 755 | ||||||
| Total shareholders’ equity | 1,532,264 | 1,458,298 | 214,927 | ||||||
| Total liabilities and shareholders’ equity | 2,390,948 | 2,257,236 | 332,677 | ||||||
| VIOMI TECHNOLOGY CO., LTD UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (All amounts in thousands, except shares, ADS, per share and per ADS data) | |||||||
| Six Months Ended | |||||||
| June 30, | June 30, | June 30, | |||||
| 2025 | 2026 | 2026 | |||||
| RMB | RMB | US$ | |||||
| Net revenues: | |||||||
| A related party | 1,360,966 | 666,138 | 98,177 | ||||
| Third parties | 116,653 | 73,858 | 10,885 | ||||
| Total net revenues | 1,477,619 | 739,996 | 109,062 | ||||
| Cost of revenues | (1,086,467 | ) | (562,316 | ) | (82,875 | ) | |
| Gross profit | 391,152 | 177,680 | 26,187 | ||||
| Operating expenses | |||||||
| Research and development expenses | (89,313 | ) | (96,059 | ) | (14,157 | ) | |
| Selling and marketing expenses | (129,034 | ) | (109,556 | ) | (16,147 | ) | |
| General and administrative expenses | (63,029 | ) | (41,401 | ) | (6,102 | ) | |
| Total operating expenses | (281,376 | ) | (247,016 | ) | (36,406 | ) | |
| Other income, net | 9,071 | 18,604 | 2,742 | ||||
| Income (loss) from operations | 118,847 | (50,732 | ) | (7,477 | ) | ||
| Interest and investment income, net | 18,687 | 14,479 | 2,134 | ||||
| Income (loss) before income tax expenses | 137,534 | (36,253 | ) | (5,343 | ) | ||
| Income tax (expenses) benefits | (17,006 | ) | 9,486 | 1,398 | |||
| Net income (loss) | 120,528 | (26,767 | ) | (3,945 | ) | ||
| Less: Net income (loss) attributable to the non-controlling interest shareholders | 133 | (481 | ) | (71 | ) | ||
| Net income (loss) attributable to ordinary shareholders of the Company | 120,395 | (26,286 | ) | (3,874 | ) | ||
| Other comprehensive loss, net of tax: | |||||||
| Foreign currency translation adjustment | (3,875 | ) | (14,124 | ) | (2,082 | ) | |
| Total comprehensive income (loss) attributable to ordinary shareholders of the Company | 116,520 | (40,410 | ) | (5,956 | ) | ||
| Net income (loss) per ADS* | |||||||
| -Basic | 1.77 | (0.39 | ) | (0.06 | ) | ||
| -Diluted | 1.75 | (0.39 | ) | (0.06 | ) | ||
| Weighted average number of ADS used in calculating net income (loss) per ADS | |||||||
| -Basic | 67,952,145 | 67,021,728 | 67,021,728 | ||||
| -Diluted | 68,621,698 | 67,960,939 | 67,960,939 | ||||
| Net income (loss) per share attributable to ordinary shareholders of the Company | |||||||
| -Basic | 0.59 | (0.13 | ) | (0.02 | ) | ||
| -Diluted | 0.58 | (0.13 | ) | (0.02 | ) | ||
| Weighted average number of ordinary shares used in calculating net income (loss) per share | |||||||
| -Basic | 203,856,436 | 201,065,185 | 201,065,185 | ||||
| -Diluted | 205,865,093 | 203,882,817 | 203,882,817 | ||||
| *Each ADS represents 3 ordinary shares. | |||||||
| (1) Share-based compensation was allocated in operating expenses as follows: | |||||||
| General and administrative expenses | 3,058 | 2,903 | 428 | ||||
| Research and development expenses | 2,992 | 1,881 | 277 | ||||
| Selling and marketing expenses | 1,110 | 1,888 | 278 | ||||
| VIOMI TECHNOLOGY CO., LTD Reconciliations of GAAP and Non-GAAP Results (All amounts in thousands, except shares, ADS, per share and per ADS data) | ||||||
| Six Months Ended | ||||||
| June 30, | June 30, | June 30, | ||||
| 2025 | 2026 | 2026 | ||||
| RMB | RMB | US$ | ||||
| Income (loss) from operations | 118,847 | (50,732 | ) | (7,477 | ) | |
| Share-based compensation expenses | 7,160 | 6,672 | 983 | |||
| Non-GAAP operating income (loss) | 126,007 | (44,060 | ) | (6,494 | ) | |
| Net income (loss) | 120,528 | (26,767 | ) | (3,945 | ) | |
| Share-based compensation expenses | 7,160 | 6,672 | 983 | |||
| Non-GAAP net income (loss) | 127,688 | (20,095 | ) | (2,962 | ) | |
| Net income (loss) attributable to ordinary shareholders of the Company | 120,395 | (26,286 | ) | (3,874 | ) | |
| Share-based compensation expenses | 7,160 | 6,672 | 983 | |||
| Non-GAAP net income (loss) attributable to ordinary shareholders of the Company | 127,555 | (19,614 | ) | (2,891 | ) | |
| Non-GAAP net income (loss) per ADS | ||||||
| -Basic | 1.88 | (0.29 | ) | (0.04 | ) | |
| -Diluted | 1.86 | (0.29 | ) | (0.04 | ) | |
| Weighted average number of ADS used in calculating Non-GAAP net income (loss) per ADS | ||||||
| -Basic | 67,952,145 | 67,021,728 | 67,021,728 | |||
| -Diluted | 68,621,698 | 67,960,939 | 67,960,939 | |||
| Non-GAAP net income (loss) per ordinary share | ||||||
| -Basic | 0.63 | (0.10 | ) | (0.01 | ) | |
| -Diluted | 0.62 | (0.10 | ) | (0.01 | ) | |
| Weighted average number of ordinary shares used in calculating Non-GAAP net income (loss) per share | ||||||
| -Basic | 203,856,436 | 201,065,185 | 201,065,185 | |||
| -Diluted | 205,865,093 | 203,882,817 | 203,882,817 | |||
