RLX Technology Inc. revenue

RLX Technology Inc.'s revenue was $551m in fiscal 2025, up 44.2% on the year before. Since fiscal 2018 ($20.1m) it has grown at a compound 60.5% a year.

Revenue history

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

RLX Technology Inc.: revenue history, 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
Growth on the year before	—	+>999%	+146.7%	+138.6%	−39.9%	−71.8%	+70.4%	+44.2%
Gross profit	9	84	221	569	343	55	101	165
Gross margin	44.7%	37.5%	40.0%	43.1%	43.2%	24.4%	26.4%	29.9%

Revenue as reported in the company's 10-K and 10-Q filings (for banks, net interest income plus non-interest income). Growth is left blank when the earlier figure was zero or negative.

Revenue against peers

Tobacco: the closest covered companies by revenue. Last twelve months.

Company	Revenue	Growth	3-year growth a year
RLX Technology Inc.	$551m	44.2%	—
Turning Point Brands, Inc.	$507m	24.5%	11.1%
Universal Corp	$2.81bn	-3.6%	2.2%
22nd Century Group, Inc.	$14.5m	-27.4%	-27.7%
Altria	$23.52bn	0.5%	-1.5%
British American Tobacco P.l.c.	$33.78bn	2.2%	—

Compare with peers

Head to head: RLX vs TPB RLX vs UVV RLX vs XXII

More: Tobacco stocks compared, Consumer Staples sector, rankings of US companies

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.