MOGU

MKT CAP:$21M

MOGU Inc.

Market Cap

$21M

Consumer Cyclical·Specialty Retail·🇨🇳 China·NYSE

Consumer Cyc.·Specialty Retail·🇨🇳·NYSE

Stock Price

$2.31+$0.16 (+7.44%)

Apr 23, 2026

Company Details

MOGU Inc., through its subsidiaries, operates an online fashion and lifestyle platform in the People's Republic of China. The company offers fashion apparel and other lifestyle products, including beauty products and accessories provided by...

CEO

Yiming Fan

IPO Date

Dec 6, 2018

Website

www.mogu-inc.com

Key Metrics TTM

Revenue

$21M

-11.9% YoY

Net Income

-$9M

EPS (Diluted)

-$1.04

Free Cash Flow

-$11M

Revenue / Share

$2.35

Gross Margin

40.0%

Operating Margin

-71.6%

Net Margin

-44.3%

FCF Margin

-55.2%

P/S

1.0x

P/E

—

Earnings Reports

Q4 2025

Jul 31, 2025

$6M+3.0%EPS -$0.32

Q3 2025

Dec 31, 2024

$6M+3.0%EPS -$0.32

Q2 2025

Sep 30, 2024

$5M-25.7%EPS -$0.20

Q1 2025

Jun 30, 2024

$5M-25.7%EPS -$0.20

FY 2024

Jul 19, 2024

$23M-30.9%EPS -$1.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$13M	$7M	-$14M
Q2 22	$11M	$5M	-$21M
Q3 22	$12M	$7M	-$14M
Q4 22	$12M	$7M	-$14M
Q1 23	$8M	$4M	-$4M
Q2 23	$8M	$4M	-$4M
Q3 23	$9M	$5M	-$3M
Q4 23	$9M	$5M	-$10M
Q1 24	$6M	$2M	-$3M
Q2 24	$6M	$2M	-$3M
Q3 24	$6M	$3M	-$2M
Q4 24	$6M	$3M	-$2M
Q1 25	$5M	$2M	-$3M
Q2 25	$5M	$2M	-$3M
Q3 25	$6M	$2M	-$4M
Q4 25	$6M	$2M	-$4M

Valuation

Quarter	P/S	P/E
Q1 22	0.3x	—
Q2 22	0.3x	—
Q3 22	0.4x	—
Q4 22	0.4x	—
Q1 23	0.5x	—
Q2 23	0.5x	—
Q3 23	0.5x	—
Q4 23	0.6x	—
Q1 24	0.6x	—
Q2 24	0.7x	—
Q3 24	0.8x	—
Q4 24	0.9x	—
Q1 25	0.9x	—
Q2 25	1.0x	—
Q3 25	1.0x	—
Q4 25	1.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$2M	-$2M
Q2 22	-$9M	-$9M
Q3 22	-$3M	-$7M
Q4 22	-$3M	-$7M
Q1 23	-$1M	-$1M
Q2 23	-$1M	-$1M
Q3 23	$433.2K	-$4M
Q4 23	$433.2K	-$4M
Q1 24	-$2M	-$2M
Q2 24	-$2M	-$2M
Q3 24	-$551.9K	-$7M
Q4 24	-$551.9K	-$7M
Q1 25	-$2M	-$2M
Q2 25	-$2M	-$2M
Q3 25	-$3M	-$4M
Q4 25	-$3M	-$4M

Capital Expenditures

Quarter	CapEx
Q1 22	$0
Q2 22	$0
Q3 22	$4M
Q4 22	$4M
Q1 23	$0
Q2 23	$0
Q3 23	$4M
Q4 23	$4M
Q1 24	$0
Q2 24	$0
Q3 24	$7M
Q4 24	$7M
Q1 25	$0
Q2 25	$0
Q3 25	$736.4K
Q4 25	$736.4K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-30.6%	-16.4%
Q2 22	-31.1%	+4.7%
Q3 22	-42.7%	-33.2%
Q4 22	-7.6%	-10.5%
Q1 23	-37.6%	-57.1%
Q2 23	-25.9%	-63.5%
Q3 23	-30.2%	-54.5%
Q4 23	-30.2%	-28.8%
Q1 24	-27.5%	-23.0%
Q2 24	-27.5%	-23.0%
Q3 24	-34.3%	-36.5%
Q4 24	-34.3%	-59.4%
Q1 25	-25.7%	-17.6%
Q2 25	-25.7%	-17.6%
Q3 25	+3.0%	+33.6%
Q4 25	+3.0%	+33.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$979.7K	7.3%
Q2 22	$176.8K	1.6%
Q3 22	$331.9K	2.7%
Q4 22	$331.9K	2.7%
Q1 23	$645.5K	7.7%
Q2 23	$645.5K	7.7%
Q3 23	$990.9K	11.6%
Q4 23	$990.9K	11.6%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$335.3K	6.0%
Q4 24	$335.3K	6.0%
Q1 25	$54.1K	1.2%
Q2 25	$54.1K	1.2%
Q3 25	$7.2K	0.1%
Q4 25	$7.2K	0.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$3M	$3M	$6M
Q2 22	$3M	$3M	$7M
Q3 22	$3M	$3M	$4M
Q4 22	$3M	$3M	$4M
Q1 23	$2M	$2M	$2M
Q2 23	$2M	$2M	$2M
Q3 23	$1M	$2M	$3M
Q4 23	$1M	$2M	$3M
Q1 24	$1M	$2M	$3M
Q2 24	$1M	$2M	$3M
Q3 24	$938.4K	$2M	$2M
Q4 24	$938.4K	$2M	$2M
Q1 25	$900.9K	$2M	$2M
Q2 25	$900.9K	$2M	$2M
Q3 25	$1M	$2M	$2M
Q4 25	$1M	$2M	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$74M	$16M	$90M
Q3 22	$64M	$29M	$93M
Q4 22	$64M	$29M	$93M
Q1 23	$57M	$31M	$88M
Q2 23	$57M	$31M	$88M
Q3 23	$61M	$22M	$83M
Q4 23	$61M	$21M	$82M
Q1 24	$54M	$15M	$69M
Q2 24	$54M	$15M	$69M
Q3 24	$52M	$9M	$61M
Q4 24	$52M	$9M	$61M
Q1 25	$12M	$40M	$52M
Q2 25	$12M	$40M	$52M
Q3 25	$12M	$44M	$56M
Q4 25	$12M	$43M	$55M
Q2 26	$20M	$43M	$62M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	8M	-0.6%	-7.3%
Q2 22	8M	-0.8%	-6.8%
Q3 22	8M	+0.5%	-1.4%
Q4 22	8M	0.0%	-0.8%
Q1 23	8M	+0.6%	+0.4%
Q2 23	8M	0.0%	+1.2%
Q3 23	9M	+1.3%	+2.0%
Q4 23	9M	0.0%	+2.0%
Q1 24	9M	+0.4%	+1.7%
Q2 24	9M	0.0%	+1.7%
Q3 24	9M	+1.2%	+1.7%
Q4 24	9M	0.0%	+1.7%
Q1 25	9M	+0.3%	+1.5%
Q2 25	9M	0.0%	+1.5%
Q3 25	9M	+0.6%	+0.9%
Q4 25	9M	0.0%	+0.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$22.2K	605
Q2 22	$18.7K	605
Q3 22	$20.3K	605
Q4 22	$26.2K	468
Q1 23	$17.9K	468
Q2 23	$17.9K	468
Q3 23	$18.3K	468
Q4 23	$21.0K	407
Q1 24	$15.0K	407
Q2 24	$15.0K	407
Q3 24	$13.8K	407
Q4 24	$18.3K	308
Q1 25	$14.7K	308
Q2 25	$14.7K	308
Q3 25	$18.8K	308
Q4 25	$16.7K	347

Revenue / Employee