RLX Technology (NYSE:RLX) Issues Earnings Results

RLX Technology (NYSE:RLX) issued its quarterly earnings results on Friday. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03, FiscalAI reports. RLX Technology had a return on equity of 4.74% and a net margin of 21.05%.The firm had revenue of $163.17 million during the quarter, compared to analyst estimates of $152.06 million.

Here are the key takeaways from RLX Technology’s conference call:

• International growth accelerated in Q4 with international sales comprising 76.5% of revenue; the company is prioritizing Western Europe and reports a replicable global expansion blueprint after rapid share gains in Asia Pacific.
• Strong financial results — Q4 net revenues were RMB 1.14 billion (up 40.3% YoY) and full-year revenue was RMB 3.96 billion (up 44%), with gross margin expanding to 31.4% and nine consecutive quarters of positive non-GAAP operating profit.
• Robust balance sheet and returns — the company ended 2025 with RMB 15.73 billion (~$2.2 billion) in financial assets, generated RMB 1.1 billion operating cash flow for the year, and has returned over $500 million to shareholders while keeping optionality for disciplined M&A.
• Mainland China business is stable and compliant, growing over 20% in 2025 aided by stricter enforcement against illicit products, but management expects 2026 growth to normalize off a high base.
• AI-driven operating leverage — management is embedding AI across product design and supply chain to speed launches and improve efficiency, enabling global scale without proportional headcount increases.

RLX Technology Price Performance

Shares of RLX Technology stock opened at $2.25 on Friday. RLX Technology has a one year low of $1.66 and a one year high of $2.84. The business’s 50 day simple moving average is $2.33 and its two-hundred day simple moving average is $2.40. The stock has a market capitalization of $3.53 billion, a P/E ratio of 24.95 and a beta of 1.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp increased its stake in shares of RLX Technology by 40.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,218,617 shares of the company’s stock worth $9,642,000 after buying an additional 1,214,766 shares during the period. Empowered Funds LLC purchased a new position in shares of RLX Technology in the fourth quarter valued at about $167,000. XTX Topco Ltd raised its stake in shares of RLX Technology by 152.6% during the fourth quarter. XTX Topco Ltd now owns 390,880 shares of the company’s stock valued at $911,000 after acquiring an additional 236,153 shares during the last quarter. Millennium Management LLC raised its stake in shares of RLX Technology by 15.6% during the fourth quarter. Millennium Management LLC now owns 207,609 shares of the company’s stock valued at $484,000 after acquiring an additional 28,052 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC purchased a new stake in shares of RLX Technology during the fourth quarter worth about $3,519,000. Institutional investors own 22.68% of the company’s stock.

RLX Technology declared that its Board of Directors has approved a share buyback program on Wednesday, December 31st that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wall Street Zen cut RLX Technology from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.25.

RLX Technology Company Profile

RLX Technology Inc (NYSE:RLX) is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design.

RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.