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RERE

ATRenew Inc.

RERE

ATRenew Inc. • NYSE
$4.54 ▲ 1.57% (+0.07)
Market Cap $1.65 B
52w High $4.93
52w Low $2.00
Dividend Yield 0%
P/E 28.38
Volume 1.25M
Outstanding Shares 362.64M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $5.149B ▲ $-437.102M ▼ $90.817M ▲ 1.764% ▲ $0.37 ▲ $0 ▼
Q2-2025 $4.991B ▲ $942.84M ▲ $72.336M ▲ 1.449% ▲ $0.2 ▲ $168.185M ▲
Q1-2025 $4.645B ▼ $936.809M ▲ $42.718M ▼ 0.92% ▼ $0.12 ▼ $100.861M ▼
Q4-2024 $4.849B ▲ $891.101M ▲ $77.424M ▲ 1.597% ▲ $0.32 ▲ $136.537M ▲
Q3-2024 $4.051B $783.51M $17.883M 0.441% $0.073 $108.318M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $1.925B ▼ $5.2B ▼ $1.408B ▼ $3.793B ▲
Q1-2025 $2.387B ▼ $5.356B ▲ $1.614B ▲ $3.742B ▲
Q4-2024 $2.614B ▲ $5.091B ▲ $1.396B ▲ $3.695B ▲
Q3-2024 $1.977B ▼ $4.969B ▼ $1.36B ▼ $3.609B ▼
Q2-2024 $2.281B $5.123B $1.473B $3.65B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $72.336M ▲ $0 $0 $0 $0 $0
Q1-2025 $42.8M ▼ $0 $0 $0 $0 $0
Q4-2024 $77.424M ▲ $0 $0 $0 $0 $0
Q3-2024 $17.883M ▲ $0 $0 $0 $0 $0
Q2-2024 $-10.673M $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily every year, showing that demand for ATRenew’s services keeps expanding. Profitability has improved a lot: the business moved from sizable operating losses to roughly break‑even on an operating basis recently, and cash-style profit (EBITDA) has turned positive. Net earnings are still slightly negative, but the losses are now small compared with the early years around the IPO. Overall, the trend is one of strong top‑line growth with clear progress toward consistent profitability, though the company is not yet firmly in the profit zone on an after‑tax basis.

Balance Sheet

Balance Sheet The balance sheet looks relatively solid. Total assets have been stable, with a good-sized cash cushion and only modest debt. Equity has held up, which suggests that past losses have not severely eroded the company’s capital base. Leverage appears low, meaning the business is not heavily dependent on borrowing. There was a step up in assets around the IPO period followed by some normalization, but in recent years the structure looks more balanced and conservative than stretched.

Cash Flow

Cash Flow Cash generation is a relative bright spot. Operating cash flow has been positive in most recent years and has improved after an earlier period of cash burn. Free cash flow has generally tracked this improvement, helped by only modest spending on capital equipment. In simple terms, the business is now bringing in cash from its operations, even while accounting profits are only just around break‑even, which points to better working‑capital discipline and a more mature business model.

Competitive Edge

Competitive Edge ATRenew holds a strong niche in China’s pre‑owned electronics market, supported by a large physical store network combined with online channels. This “clicks-and-mortar” setup helps it source devices reliably and build consumer trust compared with pure online marketplaces. Partnerships with major platforms and smartphone brands deepen its reach and credibility. Its standardized grading and inspection process, plus its control over multiple parts of the value chain (from buying from consumers to selling to businesses and end‑users), strengthen its position. The main competitive risks likely come from big e‑commerce players, low‑cost peer‑to‑peer platforms, and any shifts in regulation or consumer confidence in second‑hand goods.

Innovation and R&D

Innovation and R&D The company leans heavily on technology to differentiate itself. Its AI‑driven “Matrix” system and automated inspection tools help standardize quality checks, speed up processing, and cut costs. Data‑driven pricing aims to make transactions more transparent and fair, which is important in a market where trust is critical. ATRenew is also pushing into refurbished products under its own branding and expanding beyond phones into categories like luxury goods and cameras. These innovations could enhance margins and diversify revenue, but they require ongoing investment and careful execution, especially if the company pursues international expansion where its model is not yet proven.

Summary

ATRenew has transformed from a high‑growth, loss‑making newcomer into a still‑growing business that is close to break‑even and generating cash. Revenue momentum and improving margins show that its model is gaining traction, while a cash‑rich, lightly levered balance sheet offers some financial resilience. The company’s combination of physical stores, online platforms, and sophisticated technology gives it a meaningful edge in China’s second‑hand electronics market, and its move into refurbishment and multi‑category recycling widens its opportunity set. Key things to watch are whether it can convert near‑break‑even results into durable profitability, maintain its competitive lead as rivals respond, and scale new categories and geographies without losing operational efficiency or balance‑sheet strength.

NEWS

November 20, 2025 · 3:00 AM UTC

ATRenew Inc. Reports Unaudited Third Quarter 2025 Financial Results

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November 6, 2025 · 3:00 AM UTC

ATRenew to Report Third Quarter 2025 Financial Results on November 20, 2025

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October 5, 2025 · 7:38 AM UTC

ATRenew Named 2025 Finalist for the Earthshot Prize

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