RERE

MKT CAP:$2B

ATRenew Inc.

Market Cap

$2B

Consumer Cyclical·Specialty Retail·🇨🇳 China·NYSE

Consumer Cyc.·Specialty Retail·🇨🇳·NYSE

Stock Price

$4.73-$0.69 (-12.73%)

Apr 22, 2026

Company Details

ATRenew Inc., through its subsidiaries, operates pre-owned consumer electronics transactions and services platform in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, drones, digital cameras, household pro...

CEO

Xuefeng Chen

IPO Date

Jun 18, 2021

Website

www.atrenew.com

Key Metrics TTM

Revenue

$3.1B

+28.3% YoY

Net Income

$49M

EPS (Diluted)

$0.15

Free Cash Flow

$0

Revenue / Share

$8.40

Gross Margin

18.3%

Operating Margin

2.1%

Net Margin

1.6%

FCF Margin

0.0%

P/S

0.6x

P/E

35.1x

Earnings Reports

FY 2025

Apr 8, 2026

$3.0B+25.4%EPS $0.13

Q4 2025

Apr 8, 2026

$901M+27.2%EPS $0.05

Q3 2025

Nov 20, 2025

$752M+27.1%EPS $0.05

Q2 2025

Aug 20, 2025

$729M+32.2%EPS $0.03

Q1 2025

Mar 31, 2025

$679M+27.2%EPS $0.02

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$322M	$83M	-$20M
Q2 22	$314M	$72M	-$25M
Q3 22	$371M	$88M	-$16M
Q4 22	$436M	$89M	-$323M
Q1 23	$420M	$91M	-$10M
Q2 23	$433M	$93M	-$9M
Q3 23	$476M	$94M	-$4M
Q4 23	$566M	$106M	-$2M
Q1 24	$533M	$103M	-$6M
Q2 24	$552M	$115M	-$823.2K
Q3 24	$592M	$118M	$4M
Q4 24	$709M	$138M	$8M
Q1 25	$679M	$147M	$11M
Q2 25	$729M	$151M	$13M
Q3 25	$752M	$154M	$18M
Q4 25	$901M	$106M	$22M

Valuation

Quarter	P/S	P/E
Q1 22	0.7x	—
Q2 22	0.6x	—
Q3 22	0.4x	—
Q4 22	0.6x	—
Q1 23	0.5x	—
Q2 23	0.4x	—
Q3 23	0.3x	—
Q4 23	0.2x	—
Q1 24	0.2x	—
Q2 24	0.3x	—
Q3 24	0.3x	—
Q4 24	0.3x	—
Q1 25	0.4x	57.6x
Q2 25	0.4x	39.3x
Q3 25	0.5x	35.7x
Q4 25	0.6x	40.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	-$30M	-$32M
Q1 21	-$44M	-$45M
Q3 22	$4M	$4M
Q4 22	$0	$0
Q1 23	$0	$0
Q2 23	$3M	$3M
Q3 23	$0	$0
Q4 23	$0	$0
Q1 24	$0	$0
Q2 24	$0	$0
Q3 24	$0	$0
Q4 24	$0	$0
Q1 25	$0	$0
Q2 25	$0	$0

Capital Expenditures

Quarter	CapEx
Q1 20	$2M
Q1 21	$697.4K
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+45.7%	+44.0%
Q2 22	+14.9%	-2.6%
Q3 22	+29.2%	+25.2%
Q4 22	+22.4%	+102.7%
Q1 23	+30.2%	+25.5%
Q2 23	+38.1%	+30.7%
Q3 23	+28.4%	+24.1%
Q4 23	+29.9%	-25.1%
Q1 24	+27.1%	+25.7%
Q2 24	+27.4%	+25.1%
Q3 24	+24.4%	+22.6%
Q4 24	+25.2%	+23.3%
Q1 25	+27.2%	+23.8%
Q2 25	+32.2%	+29.6%
Q3 25	+27.1%	+24.9%
Q4 25	+27.2%	+25.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	$0	0.0%
Q1 21	$0	0.0%
Q3 22	$5M	1.3%
Q4 22	$8M	1.9%
Q1 23	$5M	1.1%
Q2 23	$5M	1.2%
Q3 23	$5M	1.1%
Q4 23	$5M	0.8%
Q1 24	$8M	1.6%
Q2 24	$6M	1.1%
Q3 24	$5M	0.8%
Q4 24	$5M	0.7%
Q1 25	$2M	0.3%
Q2 25	$2M	0.2%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$9M	$50M	$45M	—
Q2 22	$9M	$47M	$43M	—
Q3 22	$7M	$9M	$50M	—
Q4 22	$8M	$51M	$87M	—
Q1 23	$7M	$11M	$44M	—
Q2 23	$7M	$8M	$49M	—
Q3 23	$6M	$10M	$44M	—
Q4 23	$9M	$9M	$46M	—
Q1 24	$7M	$11M	$47M	—
Q2 24	$7M	$11M	$52M	—
Q3 24	$8M	$10M	$46M	—
Q4 24	$8M	$13M	$55M	—
Q1 25	$8M	$13M	$55M	—
Q2 25	$9M	$11M	$59M	—
Q3 25	$9M	$11M	$53M	—
Q4 25	$9M	—	—	$76M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$165M	$129M	$293M
Q2 22	$178M	$151M	$328M
Q3 22	$186M	$148M	$334M
Q4 22	$249M	$120M	$368M
Q1 23	$229M	$94M	$323M
Q2 23	$218M	$88M	$306M
Q3 23	$209M	$51M	$260M
Q4 23	$289M	$66M	$355M
Q1 24	$235M	$69M	$304M
Q2 24	$240M	$93M	$333M
Q3 24	$197M	$92M	$289M
Q4 24	$288M	$94M	$382M
Q1 25	$264M	$84M	$349M
Q2 25	$190M	$91M	$281M
Q3 25	$238M	$80M	$318M
Q4 25	$225M	$39M	$264M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	244M	-0.5%	+765.6%
Q2 22	242M	-0.7%	+330.1%
Q3 22	243M	+0.5%	+142.5%
Q4 22	244M	+0.2%	-0.5%
Q1 23	246M	+0.8%	+0.8%
Q2 23	244M	-0.6%	+0.9%
Q3 23	242M	-1.0%	-0.6%
Q4 23	241M	-0.4%	-1.1%
Q1 24	242M	+0.4%	-1.4%
Q2 24	250M	+3.2%	+2.3%
Q3 24	246M	-1.4%	+1.8%
Q4 24	244M	-1.1%	+1.0%
Q1 25	366M	+50.2%	+51.0%
Q2 25	369M	+1.0%	+47.8%
Q3 25	244M	-34.0%	-1.0%
Q4 25	365M	+49.4%	+49.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$129.1K	2K
Q2 22	$125.6K	2K
Q3 22	$148.4K	2K
Q4 22	$215.1K	2K
Q1 23	$207.2K	2K
Q2 23	$213.8K	2K
Q3 23	$235.0K	2K
Q4 23	$275.4K	2K
Q1 24	$259.6K	2K
Q2 24	$268.5K	2K
Q3 24	$288.1K	2K
Q4 24	$342.8K	2K
Q1 25	$328.3K	2K
Q2 25	$352.8K	2K
Q3 25	$364.0K	2K
Q4 25	$436.0K	2K

Revenue / Employee