Ecovacs Robotics (603486) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months reached RMB 12.88 billion, up 25.93% year-over-year, driven by strong growth in branded home service robots and improved gross margin.

• Net profit attributable to shareholders was RMB 1.42 billion, a 130.55% increase year-over-year, with adjusted net profit up 141.99%.

• Cash flow from operating activities surged 1,780.60% year-over-year to RMB 1.96 billion.

Financial highlights

• Q3 revenue was RMB 4.20 billion, up 29.26% compared to the same quarter last year.

• Q3 net profit attributable to shareholders was RMB 438 million, up 7,160.87% year-over-year.

• Basic EPS for the first nine months was RMB 2.51, up 132.41% year-over-year; diluted EPS was RMB 2.47, up 130.84%.

• Gross margin and operating efficiency improved, with period expense ratio declining.

Outlook and guidance

• Growth attributed to increased sales in branded home service robots, higher gross margin, and lower expense ratio.

• Management expects continued momentum from product innovation and operational efficiency.