Yatsen Holding (YSG) Reports Q4 Loss of $0.11 on Revenues of $300.6M
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Yatsen Holding (NYSE: YSG) reported Q4 EPS of ($0.11), versus $0.16 reported last year. Revenue for the quarter came in at $300.6 million.
Fourth Quarter 2020 Highlights
- Total net revenues for the fourth quarter of 2020 increased 71.7% to RMB1.96 billion (US$300.6 million) from RMB1.14 billion for the fourth quarter of 2019.
- Gross margin for the fourth quarter of 2020 was 66.3% compared to 62.7% for the fourth quarter of 2019.
- Gross sales for the fourth quarter of 2020 increased 73.3% to RMB2.27 billion (US$348.2 million) from RMB1.31 billion for the fourth quarter of 2019.
- The number of Direct-to-Consumer ("DTC") customers for the fourth quarter of 2020 increased 30.9% to 14.4 million from 11.0 million for the fourth quarter of 2019.
"We are thrilled to report solid fourth quarter and full year results as our efforts to scale our brands and unlock synergies between our various sales channels, resulted in powerful top-line growth," said Mr. Jinfeng Huang, founder, chairman and CEO of Yatsen. "The growing popularity of homegrown Chinese beauty brands is presenting us with unprecedented opportunities that we are well positioned to capture. With our acquisition of several distinct skincare brands and our partnership with Sensient Technologies, we are on track to offer our customers a full suite of products. While we continue to focus on innovation and quality, our efforts in expanding our offline experience stores will create even greater value for our customers and spur stronger brand engagement and loyalty. In 2021, as customers continue their journey of beauty discovery, we look forward to introducing effective skincare regimens and new color cosmetics consisting of an even fuller array of colors and textures."
Mr. Donghao Yang, CFO and director of Yatsen, commented, "We finished the fourth quarter of 2020 with solid financial results. Our healthy top line growth reflects strong performance across our brand portfolio and demonstrates the deep market appeal of our products, the success of our growth strategy, and our ability to skillfully execute our operational plan. 2020 was a pivotal year for Yatsen and the overall beauty industry, and our efforts in product innovation and development paid off. As we move further into 2021, we remain committed to our growth strategy of expanding our product offerings and customer base which we firmly believe will lay a solid foundation for profitability in the long run."
For the first quarter of 2021, the Company expects its total net revenues to be between RMB1.37 billion and RMB1.42 billion, representing a year-over-year growth rate of approximately 35% to 40%. These forecasts reflect the Company's current and preliminary views on the market and operational conditions, which are subject to change.
For earnings history and earnings-related data on Yatsen Holding (YSG) click here.
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