So-Young Q1 Loss Narrows, Projects Revenue Growth In Q2

(RTTNews) - So-Young International Inc. (SY), an online healthcare platform, Monday, reported a narrower loss for the first quarter of 2023 on improved sales of equipment and maintenance services as well as a reduction in expenses. The company expects 22.9-29.4 percent growth in second-quarter revenues.

The first-quarter loss was RMB 11.95 million or $1.7 million narrower than RMB 66.84 million or $10.5 million of last year.

Adjusted net loss was RMB 2.8 million or $0.4 million compared with RMB 48.3 million or $7.6 million in the previous year.

Loss per ADS was $0.02 compared with $0.10 per share for the same period of the previous year.

Total revenue increased 3.2 percent to RMB 310.1 million or $45.2 million from RMB 300.35 million or $47.4 million of last year.

In premarket activity, shares of So-Young International were trading at $2.45 down 1.21% or $0.03 on the Nasdaq.

Looking ahead, the company expects a 22.9-29.4 percent increase in revenue in a range of RMB 380 million or $55.3 million -RMB400 million or $215.5 million.