RLX Technology (NYSE:RLX) Posts Earnings Results

RLX Technology (NYSE:RLX) released its earnings results on Friday. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03, FiscalAI reports. RLX Technology had a net margin of 21.05% and a return on equity of 4.74%. 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 Stock Down 1.1%

Shares of RLX opened at $2.25 on Friday. RLX Technology has a twelve month low of $1.66 and a twelve month high of $2.84. The company has a market capitalization of $3.53 billion, a P/E ratio of 32.07 and a beta of 1.11. The firm has a 50 day moving average of $2.33 and a 200 day moving average of $2.40.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RLX. Wall Street Zen upgraded RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a report on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.25.

RLX Technology announced that its board has approved a share buyback plan on Wednesday, December 31st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of RLX Technology

Several institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its stake in shares of RLX Technology by 2.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 380,820 shares of the company’s stock worth $887,000 after buying an additional 8,509 shares during the last quarter. Franklin Resources Inc. increased its position in RLX Technology by 2.2% during the third quarter. Franklin Resources Inc. now owns 482,778 shares of the company’s stock valued at $1,270,000 after acquiring an additional 10,522 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in RLX Technology in the fourth quarter valued at about $26,000. Insigneo Advisory Services LLC purchased a new position in RLX Technology in the fourth quarter worth about $29,000. Finally, SmartHarvest Portfolios LLC purchased a new position in RLX Technology in the fourth quarter worth about $40,000. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

About RLX Technology

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.