Here Group posts FY2026 results with $88M revenue, goodwill write-down

Here Group Limited (NASDAQ: HERE), a Beijing-based pop toy company, reported unaudited financial results for the fourth quarter and full fiscal year ended June 30, 2026, according to a company press release.

Full-year revenues reached RMB596.8 million ($88.0 million), compared with RMB65.8 million in fiscal year 2025. The company noted that the prior-year figure reflects only the fourth quarter of FY2025, when its pop toy business commenced following the acquisition of Letsvan.

The net loss from continuing operations for FY2026 was RMB254.9 million ($37.6 million), which included a goodwill impairment charge of RMB124.1 million ($18.3 million) tied to the Letsvan acquisition. The impairment reflected lower-than-anticipated financial performance. The adjusted net loss from continuing operations, which excludes share-based compensation and the goodwill impairment, was RMB93.9 million ($13.8 million).

Fourth-quarter revenue was RMB127.7 million ($18.8 million), a decline of 22.5% from the prior quarter, attributed primarily to lower channel sales, though it rose 94.1% from the same period a year earlier. The quarterly net loss from continuing operations was RMB169.6 million ($25.0 million), including the full goodwill impairment charge recorded in the period.

The company's board approved a share repurchase program of up to $20.0 million in Class A ordinary shares in the form of American depositary shares, covering the period from July 1, 2026 through June 30, 2027. As of September 16, 2026, approximately 0.4 million ADSs had been repurchased for approximately $0.7 million.

The company also disclosed a board and management change. Liu Xihao, a board member and Senior Vice President, resigned effective September 22, 2026, citing personal reasons. The company stated the departure was not related to any disagreement with management or the board.

As of June 30, 2026, Here Group held 22 intellectual property licenses, comprising 13 proprietary and 9 exclusively licensed IPs. Cash and cash equivalents stood at RMB431.1 million ($63.5 million).

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