Monitor next quarter for stabilization in MAUs and revenue trends; the company is investing heavily in AI and international expansion (Aha World, Liamiao IP) which may not yield near-term results. The cash burn rate and deferred revenue trajectory will be key indicators of underlying demand.
Price Chart
Executive Summary
iHuman reported Q2 2026 revenue of RMB173.4M ($25.6M), down 17.8% YoY from RMB210.9M, and swung to a net loss of RMB17.5M ($2.6M) from net income of RMB30.7M a year ago. The decline was attributed to a falling newborn population and conservative consumer spending in China, while investments in product expansion and AI weighed on profitability.
Key Financial Metrics
Key Facts
- Revenue fell 17.8% YoY to RMB173.4M ($25.6M) from RMB210.9M
- Net loss of RMB17.5M ($2.6M) vs net income of RMB30.7M in Q2 2025
- Operating loss of RMB20.8M vs operating income of RMB18.3M a year ago
- Average MAUs declined to 20.72M from 23.97M YoY
- Gross margin contracted to 64.1% from 66.7%
- Sales & marketing expenses increased 17.2% YoY to RMB52.3M
- Deferred revenue fell to RMB231.5M from RMB245.1M at year-end 2025
- Cash & short-term investments decreased to RMB1,007.4M from RMB1,154.2M at year-end 2025
Financial Impact
Revenue decline of ~RMB37.5M and swing from net income to net loss of ~RMB48.2M vs prior year quarter
Risk Factors
- Continued decline in China's newborn population pressuring user base and revenue
- Rising sales & marketing spend without commensurate revenue recovery
- Cash reserves declining due to acquisitions, dividends, and operating losses
- Integration risk from All Knowledge and Perfect Lingo acquisitions
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302892731 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 29, 2026 27d ago | 6-K | $1.14 | awaiting T+60 | — | $1.18 (−3.51%) |
Sep 29, 2026 27d ago | Press Release | $1.14 | awaiting T+60 | — | $1.18 (−3.51%) |
Jun 29, 2026 17w ago | 6-K | $1.46 $1.14 | ▲ +21.80% | ▲ +26.19% | $1.18 (+19.06%) |
Jun 1, 2026 21w ago | 6-K | $1.64 $1.22 | ▼ −25.46% | ▼ −26.70% | $1.18 (−28.05%) |
Apr 24, 2026 26w ago | 20-F | $1.74 $1.40 | ▲ +19.44% | ▲ +24.22% | $1.18 (+32.11%) |
Mar 31, 2026 29w ago | 6-K | $1.61 $1.40 | ▲ +13.02% | ▲ +25.40% | $1.18 (+26.69%) |
US Market Status
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