ZEPPNYSEElectronic ComputersUS GAAP · USD

Zepp Health Corp

Zepp Health Corp is a U.S.-listed consumer electronics company focused on smart wearables and digital health products. Its core business centers on the Amazfit, Zepp Clarity and Zepp Aura brands, supported by the Zepp digital platform, Zepp OS, AI chips, biometric sensors and data algorithms.

Kysy yhtiöstä
Liikevaihto259milj. USD
+41,8 %v/v
Liikevoitto (EBIT)−29,2milj. USD
+38,1 %v/v
EBIT-marginaali−11,3%
+14,6 %-yks.v/v
Nettotulos−40,1milj. USD
+47,1 %v/v
Vapaa kassavirta−26,2milj. USD
−1,6 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−2 00002 0004 0006 0008 000milj. USD2020: 6 433 milj. USD2020: EBIT 174 milj. USD20202021: 6 250 milj. USD2021: EBIT 94 milj. USD20212022: 4 143 milj. USD2022: EBIT −410 milj. USD20222023: 2 495 milj. USD2023: EBIT −207 milj. USD20232024: 183 milj. USD2024: EBIT −47 milj. USD20242025: 259 milj. USD2025: EBIT −29 milj. USD2025259−29
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Zepp Health Corp

Liiketoiminta

Osuus liikevaihdosta
Smart wearables70 %

Connected watches and fitness bands for health, activity and lifestyle tracking.

Health and wellness audio devices10 %

Consumer devices and services related to hearing support and wellness audio.

Digital wellness services8 %

Cloud-based wellness guidance and subscription-style digital health offerings.

Device software and platform12 %

Zepp OS, companion software and data platform capabilities that support the device ecosystem.

Asiakkaat

Zepp Health sells primarily to individual consumers who want affordable connected wearables for fitness, sleep and day-to-day health tracking. It also serves users looking for hearing-support products and digital wellness tools, with the product set designed around personal health monitoring rather than enterprise workflows. Brand choice, feature set and app ecosystem are important because buyers typically compare Zepp devices against other consumer wearables on price, battery life and functionality.

Consumer wearable buyers

Buy smartwatches and fitness bands for activity, sleep and health tracking.

Digital wellness users

Use Zepp Aura and related software for guided wellness and health insights.

Hearing-device consumers

Buy Zepp Clarity products for hearing support and related audio use cases.

International retail channel customers

Purchase through online and retail channels in multiple countries where the brand is sold.

Strategia

Zepp Health's strategy is to build a connected health ecosystem around smart wearables, software and cloud-based guidance. The company emphasizes proprietary technology such as Zepp OS, AI chips, biometric sensors and data algorithms to differentiate its products and deepen user engagement across brands and geographies.

Grow the smart wearable ecosystemKeskipitkä aikaväli

A broader installed base supports repeat device sales and recurring app engagement.

Differentiate through proprietary technologyKeskipitkä aikaväli

Software, sensors and algorithms help the company compete against larger consumer electronics peers.

Maintain broad international distributionLyhyt aikaväli

The brand depends on global reach to scale volumes and offset regional demand shifts.

Maantiede

2025

Zepp Health describes its products as available in more than 150 countries and regions, with team members and offices across the globe. The company highlights Europe and the United States as especially important operating hubs, which makes distribution, localization and regulatory compliance central to the business model.

Europe38 %
Asia Pacific31 %
North America16 %
USA15 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Zepp Health faces typical consumer electronics risks, including fast product obsolescence, intense competition and reliance on brand positioning in a crowded wearable market. Its global footprint also creates exposure to cross-border supply, regulatory and channel risks, while the report shows meaningful balance-sheet and investment-related volatility that can affect reported earnings.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Intense competition in wearables1Debt maturity management2Product obsolescence and feature risk3Investment and fair value volatility4International regulatory and trade exposure5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Intense competition in wearablesVaikutus: KorkeaTodennäköisyys: Korkea

    The company sells consumer devices in a market with large global rivals and frequent product launches.

    Kohdistuu: Amazfit smartwatches and fitness wearables

  2. Debt maturity managementVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Borrowings and reclassifications between current and non-current debt can affect financial flexibility.

    Kohdistuu: Debt and liquidity profile

  3. Product obsolescence and feature riskVaikutus: KeskitasoTodennäköisyys: Korkea

    Wearable products can become outdated quickly as sensor, battery and software expectations evolve.

    Kohdistuu: Consumer wearable hardware

  4. Investment and fair value volatilityVaikutus: KeskitasoTodennäköisyys: Korkea

    Reported results include gains and losses from long-term investments and equity-method holdings.

    Kohdistuu: Non-operating income statement items

  5. International regulatory and trade exposureVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Sales and operations span many countries, increasing compliance and cross-border operating risk.

    KohdistuuEuropeUnited StatesOther international markets
Kysy Clarifolta: Zepp Health Corp

Kirjanpito

Harkinnanvaraiset erät
Non-GAAP adjustments

Adjusted EBIT and adjusted net loss exclude share-based compensation, intangibles, investment changes and equity-method items.

Vaikutus: Changes the comparison between operating performance and reported net loss

Investment fair value measurements

Gains and losses on long-term investments affect earnings outside core operations.

Vaikutus: Can create volatility in other income and net loss

Intangible asset amortization

Acquisition-related intangibles are amortized and flow through operating results.

Vaikutus: Reduces reported profit and affects period-to-period comparability

Debt classification

Borrowings may move between short-term and long-term categories as maturities change.

Vaikutus: Affects current liabilities and liquidity presentation

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Päivitetty: 28.9.2026

Zepp Health Corp (NYSE) – Electronic Computers | Analyysi – Clarifo