QH

MKT CAP:$9M

Quhuo Limited

Market Cap

$9M

Technology·Software - Application·🇨🇳 China·NASDAQ

Technology·Software App·🇨🇳·NASDAQ

Stock Price

$0.09-$1.02 (-92.30%)

Apr 17, 2026

Company Details

Quhuo Limited, through its subsidiaries, operates a workforce operational solution platform in the People's Republic of China. The company provides tech-enabled and end-to-end operational solutions to blue-chip on-demand consumer service bu...

CEO

Leslie Yu

IPO Date

Jul 10, 2020

Website

www.quhuo.cn

Key Metrics TTM

Revenue

$374M

-28.7% YoY

Net Income

$312.5K

EPS (Diluted)

$1.93

Free Cash Flow

-$2M

Revenue / Share

$375.08

Gross Margin

2.1%

Operating Margin

-1.4%

Net Margin

0.1%

FCF Margin

-0.6%

P/S

0.0x

P/E

27.3x

Earnings Reports

Q3 2025

Apr 27, 2026

PENDING

Q2 2025

Sep 26, 2025

$83M-30.2%EPS -$3.89

Q1 2025

Mar 31, 2025

$83M-30.2%EPS -$3.89

Q4 2024

Apr 30, 2025

$104M-27.4%EPS $4.85

Q3 2024

Sep 30, 2024

$104M-27.4%EPS $4.85

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 20	$80M	$9M	$4M
Q3 20	$112M	$12M	-$4M
Q1 22	$136M	$7M	-$932.1K
Q2 22	$136M	$7M	-$932.1K
Q3 22	$143M	$12M	$3M
Q4 22	$143M	$12M	$3M
Q1 23	$127M	$5M	-$2M
Q2 23	$127M	$5M	-$916.0K
Q3 23	$144M	$7M	$347.0K
Q4 23	$144M	$7M	$347.0K
Q1 24	$118M	$2M	-$3M
Q2 24	$118M	$2M	-$3M
Q3 24	$104M	$4M	$2M
Q4 24	$104M	$4M	$2M
Q1 25	$83M	$296.8K	-$5M
Q2 25	$83M	$296.8K	-$5M

Valuation

Quarter	P/S	P/E
Q2 20	0.0x	7.4x
Q3 20	0.0x	—
Q1 22	0.0x	—
Q2 22	0.0x	—
Q3 22	0.0x	—
Q4 22	0.0x	—
Q1 23	0.0x	—
Q2 23	0.0x	26.9x
Q3 23	0.0x	21.2x
Q4 23	0.0x	17.5x
Q1 24	0.0x	—
Q2 24	0.0x	—
Q3 24	0.0x	—
Q4 24	0.0x	21.6x
Q1 25	0.0x	24.1x
Q2 25	0.0x	27.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 20	$0	$0
Q3 20	$0	$0
Q1 22	-$212.0K	-$386.8K
Q2 22	-$212.0K	-$386.8K
Q3 22	$6M	$6M
Q4 22	$6M	$6M
Q1 23	-$2M	-$2M
Q2 23	-$2M	-$2M
Q3 23	-$5M	-$5M
Q4 23	-$5M	-$5M
Q1 24	-$3M	-$3M
Q2 24	-$3M	-$3M
Q3 24	$2M	$2M
Q4 24	$2M	$2M
Q1 25	-$3M	-$3M
Q2 25	-$3M	-$3M

Capital Expenditures

Quarter	CapEx
Q2 20	$0
Q3 20	$0
Q1 22	$174.8K
Q2 22	$174.8K
Q3 22	$165.6K
Q4 22	$165.6K
Q1 23	$92.2K
Q2 23	$92.2K
Q3 23	$81.8K
Q4 23	$81.8K
Q1 24	$25.8K
Q2 24	$25.8K
Q3 24	$41.7K
Q4 24	$41.7K
Q1 25	$4.6K
Q2 25	$4.6K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 20	+44.3%	+32.0%
Q3 20	+20.8%	+27.1%
Q1 22	+41.2%	+41.7%
Q2 22	+137.4%	+127.9%
Q3 22	+78.7%	+85.1%
Q4 22	+27.1%	+20.8%
Q1 23	-6.8%	-6.3%
Q2 23	-6.8%	-6.8%
Q3 23	+0.5%	+2.3%
Q4 23	+0.5%	+2.3%
Q1 24	-6.7%	-5.3%
Q2 24	-6.7%	-4.9%
Q3 24	-27.4%	-29.0%
Q4 24	-27.4%	-29.0%
Q1 25	-30.2%	-27.8%
Q2 25	-30.2%	-27.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 20	$188.5K	0.2%
Q3 20	$11M	9.4%
Q1 22	$913.4K	0.7%
Q2 22	$913.4K	0.7%
Q3 22	$530.3K	0.4%
Q4 22	$530.3K	0.4%
Q1 23	$281.5K	0.2%
Q2 23	$281.5K	0.2%
Q3 23	-$317.7K	-0.2%
Q4 23	-$317.7K	-0.2%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A
Q2 20	$399.2K	$4M
Q3 20	$442.6K	$15M
Q1 22	$523.2K	$7M
Q2 22	$523.2K	$7M
Q3 22	$393.0K	$8M
Q4 22	$393.0K	$8M
Q1 23	$485.5K	$6M
Q2 23	$485.5K	$6M
Q3 23	$418.8K	$8M
Q4 23	$418.8K	$8M
Q1 24	$360.8K	$5M
Q2 24	$360.8K	$5M
Q3 24	$420.2K	$6M
Q4 24	$420.2K	$6M
Q1 25	$262.2K	$6M
Q2 25	$262.2K	$6M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q2 20	44.3%	5.8%	50.2
Q3 20	20.8%	1.6%	22.4
Q1 22	41.2%	0.1%	41.3
Q2 22	137.4%	0.1%	137.4
Q3 22	78.7%	2.7%	81.4
Q4 22	27.1%	2.7%	29.9
Q1 23	-6.8%	-0.5%	-7.3
Q2 23	-6.8%	-0.5%	-7.3
Q3 23	0.5%	0.2%	0.7
Q4 23	0.5%	0.2%	0.7
Q1 24	-6.7%	-2.4%	-9.1
Q2 24	-6.7%	-2.4%	-9.1
Q3 24	-27.4%	-1.7%	-29.2
Q4 24	-27.4%	-1.7%	-29.2
Q1 25	-30.2%	-6.0%	-36.1
Q2 25	-30.2%	-6.0%	-36.1

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 21	$8M	$29M	$37M
Q4 21	$4M	$26M	$30M
Q1 22	$7M	$15M	$22M
Q2 22	$7M	$15M	$22M
Q3 22	$14M	$9M	$23M
Q4 22	$14M	$9M	$23M
Q1 23	$17M	$9M	$26M
Q2 23	$17M	$9M	$26M
Q3 23	$7M	$10M	$17M
Q4 23	$7M	$10M	$17M
Q1 24	$6M	$9M	$15M
Q2 24	$6M	$9M	$15M
Q3 24	$9M	$0	$9M
Q4 24	$9M	$0	$9M
Q1 25	$5M	$0	$5M
Q2 25	$5M	$0	$5M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 20	704K	+161.2%	+161.2%
Q3 20	722K	+2.6%	+168.0%
Q1 22	843K	+16.7%	+212.8%
Q2 22	843K	0.0%	+212.8%
Q3 22	1M	+39.1%	+66.7%
Q4 22	1M	0.0%	+62.4%
Q1 23	1M	-13.4%	+20.5%
Q2 23	1M	0.0%	+20.5%
Q3 23	983K	-3.2%	-16.2%
Q4 23	983K	0.0%	-16.2%
Q1 24	833K	-15.3%	-18.0%
Q2 24	833K	0.0%	-18.0%
Q3 24	832K	-0.1%	-15.4%
Q4 24	832K	0.0%	-15.4%
Q1 25	997K	+19.8%	+19.7%
Q2 25	997K	0.0%	+19.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 20	—	—
Q3 20	—	—
Q1 22	$198.8K	685
Q2 22	$198.8K	685
Q3 22	$208.7K	685
Q4 22	$288.8K	495
Q1 23	$256.3K	495
Q2 23	$256.3K	495
Q3 23	$290.2K	495
Q4 23	$293.1K	490
Q1 24	$241.5K	490
Q2 24	$241.5K	490
Q3 24	$212.8K	490
Q4 24	$247.6K	421
Q1 25	$196.3K	421
Q2 25	$196.3K	421

Revenue / Employee