ATRenew Q2 revenue rises 32.4%, lifts guidance above high end

On Thursday, ATRenew (NYSE: RERE ) discussed second-quarter financial results during its earnings call.

The full transcript is provided below.

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The full earnings call is available at Summary ATRenew Inc. reported a 32.4% year-over-year increase in total net revenues for Q2 2026, reaching 6.61 billion RMB, exceeding the high end of their guidance.

Non-GAAP operating profit grew by 70.1% year over year to 210 million RMB with a margin expansion to 3.1%, driven by a strong performance in the 1P business model.

The company highlighted four key industry trends: declining new device sales, macroeconomic headwinds increasing demand for pre-owned products, stronger regulations benefiting compliant operators, and the export growth of domestic pre-owned devices.

ATRenew's 1P business model, focused on trust and efficiency, saw significant growth with a 92.4% year-over-year increase in 1P B2C retail revenue, driven by curated retail and enhanced user experience.

Service revenue decreased by 4.2% due to promotional subsidies and strategic fee reductions, yet the company continues to expand the PJT Marketplace, reaching over 2.27 million registered merchants.

The company anticipates Q3 2026 revenues between 6.34 billion RMB to 6.44 billion RMB, reflecting a 23.1% to 25.1% year-over-year increase, factoring in new smartphone launches like the iPhone 18.

Management reiterated their three-stage development strategy, focusing on solidifying core business growth, strengthening the AHS Recycle brand, and advancing their overseas strategy with initiatives like PhoneSquare and the RE brand.

Full Transcript OPERATOR Good morning and good evening, ladies and gentlemen.

Thank you for standing by, and welcome to ATRenew Inc.'s second quarter 2026 earnings conference call.

At this time, all participants are in listen-only mode.

We will be hosting a question-and-answer session after management's prepared remarks.

Please note today's event is being recorded.

I will now turn the call over to the first speaker today, Ms.

Jenny Gin, Head of Investor Relations.

Please go ahead, ma'am.

Jenny Gin, Head of Investor Relations Thank you.

Hello everyone, and welcome to ATRenew second quarter 2026 earnings conference call.

Speaking first today is Kerry Chen, our Founder, Chairman and CEO, and he will be followed by Rex Chen, our CFO.

After that, we will open the call to questions from the analysts.

The second quarter 2026 financial results were released earlier today.

The earnings press release and investor slides accompanying this call are now available at our IR website, ir.atrenew.com.

There will also be a transcript following this call for your convenience.

For today's agenda, Kerry will share his thoughts of our quarterly performance and business strategy, followed by Rex, who will address the financial highlights.

Both Kerry and Rex will participate during the Q&A session.

Please note our safe harbor statement.

Some of the information you will hear during our discussion today will consist of forward-looking statements, and I refer you to our safe harbor statements in the earnings press release.

Any forward-looking statements that management makes on this call are based on assumptions as of today, and ATRenew does not take any obligations to update our assumptions or the statements.

Also, this call includes discussions of certain non-GAAP financial measures.

Please refer to our earnings press release, which contains a reconciliation of non-GAAP measures to GAAP measures.

Finally, please note that unless otherwise stated, all figures mentioned during this conference call are in RMB and all comparisons are on a year-over-year basis.

I'd now like to turn the call over to Kerry for business and strategy updates.

Kerry Chen, Founder, Chairman and CEO Hello everyone, and thank you for joining ATRenew's second quarter 2026 earnings conference call.