RLX Technology Inc. income statement

In fiscal 2025, RLX Technology Inc. reported revenue of $551m, up 44.2% on the year before, operating income of $45.7m (a 8.3% margin) and net income of $128m, or $0.10 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

RLX Technology Inc.: income statement, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	20	224	554	1,321	794	224	382	551
Cost of revenue	11	140	332	752	443	121	239	339
Gross profit	9	84	221	569	343	55	101	165
Research and development	0	5	43	28	47	24	12	18
General and administrative	3	19	112	104	86	70	72	47
Operating income	0	8	2	356	158	−70	−15	46
Interest expense	—	—	—	—	0	—	0	1
Provision for credit losses	—	0	0	0	4	0	1	0
Income before tax	0	11	15	412	265	84	92	147
Income tax	0	4	33	98	55	7	13	17
Net income	−0	7	−19	314	215	76	77	128
Diluted EPS	$0.00	$0.00	−$0.01	$0.22	$0.16	$0.06	$0.06	$0.10
Diluted shares (average)	1,194m	1,437m	1,437m	1,410m	1,328m	1,340m	1,289m	1,224m
EBITDA	0	9	5	363	170	−65	−11	50

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from RLX Technology Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to RLX Technology Inc.