So-Young International Inc. (NASDAQ: SY) reported Q1 EPS of $0.04. Revenue for the quarter came in at $30.7 million.

• Total revenues were RMB206.1 million (US$30.7 million1), an 81.2% increase from the same period of 2018.
• Gross margin was 82.3%, compared with 87.0% in the same period of 2018.
• Income from operations was RMB38.0 million (US$5.7 million), compared with RMB29.6 million in the same period of 2018.
• Net income was RMB45.9 million (US$6.8 million), compared with RMB30.6 million in the same period of 2018.
• Non-GAAP net income2 was RMB51.9 million (US$7.7 million), compared with non-GAAP net income of RMB31.3 million in the same period of 2018.
• Basic and diluted earnings per American Depositary Shares (“ADSs”) attributable to ordinary shareholders were RMB0.28(US$0.04) and RMB0.25 (US$0.04), respectively. Thirteen ADSs represent ten Class A ordinary shares.

"I’m pleased to report strong quarterly results for the first time as a public company,” commented Mr. Xing Jin, Co-Founder and Chief Executive Officer of So-Young. “Our business continued to grow rapidly during the quarter as our bottom line further expanded. According to third-party data, China’s medical aesthetic service industry is expected to grow at a CAGR of 24% to RMB360 billion by 2023. The market opportunity is massive and I am confident that we have the right strategy and team in place to ideally position ourselves to benefit from the enormous growth opportunities ahead. We will continue to invest in enriching our content offerings, deploying AI across our platform, developing additional value-added services, diversifying user acquisition channels, and expanding into adjacent consumption healthcare verticals to strengthen our competitive advantages and fortify our position as the clear market leader.”

“Our operational and financial performance continued to improve during the quarter since turning profitable in 2017,” added Mr. Min Yu, Chief Financial Officer of So-Young. “Average mobile MAUs and total number of purchasing users grew significantly, increasing 78.7% and 84.9%, respectively, from the same period last year which reflects the success we are seeing in driving monetization across our platform. Our revenue increased by 81.2% year-over-year to RMB206.1 million and non-GAAP net income increased by 65.8% year-over-year to RMB51.9 million as our business grows to scale. We continue to carefully monitor the rapidly changing environment and are ready to seize any opportunities that arise in order to further expand our market share going forward.”

For earnings history and earnings-related data on So-Young International Inc. (SY) click here.