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FOSHAN, China, Aug. 27, 2026 (GLOBE NEWSWIRE) -- Viomi Technology Co., Ltd (“Viomi”, the “Company” or “we”) (NASDAQ: VIOT), a leading global technology company for home water systems, today announced its unaudited financial results for the six months ended June 30, 2026.

First Half 2026 Financial Overview

• Net revenues were RMB740.0 million (US$109.1 million), compared to RMB1,477.6 million for the same period of 2025.

• Gross margin was 24.0%.

Mr. Xiaoping Chen, Founder and CEO of Viomi, commented, “During the first half of 2026, the phase-out of national subsidy policies for our core product categories led to a temporary contraction in market demand. Coupled with a high base effect from the prior year, this resulted in a decline in the Company’s total revenues to RMB740.0 million, down 49.9% year over year. Net loss attributable to ordinary shareholders was RMB26.3 million, primarily due to reduced revenue scale alongside our continued strategic investments in overseas market expansion. Despite these temporary headwinds, the Company remained steadfast in its strategic resolve: we steadily expanded our overseas channel network and further strengthened our core technology and product portfolio, reinforcing our foundation for operational improvement and sustainable, high-quality development.”

“On overseas channel expansion, the Company is making progress on multiple fronts. In North America, we are leveraging synergies across online and offline channels to accelerate the establishment of a comprehensive market presence. Our Amazon e-commerce business sustained strong momentum with triple-digit year-over-year growth in the first half, including a robust Prime Day performance, where our flagship product V6 Pro ranked among the Top 8 in the under-sink tankless RO category. At the same time, we are actively expanding into offline retail and professional channels to build a more diversified product and brand matrix. Our presence at international trade shows, such as the WQA convention in the United States, has steadily enhanced our professional brand image and global visibility.”

“In Southeast Asia, building upon our established channel presence in Malaysia, we have continued to expand our regional footprint, successfully entering the Singapore market and exhibiting at the Consumer Electronics Exhibition 2026 (CEE) in May, further enhancing our brand influence across the region. Additionally, in partnership with overseas strategic clients, we have successfully penetrated the Turkish market, leveraging our Water Purifier Gigafactory’s agile supply chain and quality advantages to add another strategic pillar to our global footprint.”

“On the technology and product front, the Company continued to increase R&D investments, focusing on breakthroughs in cooling and ice-making technologies. Our higher-integration product formats are extending usage scenarios from home to office environments, while iterative upgrades to our multi-functional faucets further address increasingly diversified household water usage needs. Our Water Purifier Gigafactory’s modular production lines and agile manufacturing capabilities enable us to rapidly respond to customized product development across multiple categories and regions, while maximizing production efficiency and continuously optimizing manufacturing costs. These capabilities provide a solid foundation for the commercialization and scaled deployment of our technological innovations.”

“With respect to shareholder returns, the Company remains committed to its long-term pledge. In March 2026, the Board of Directors approved a special cash dividend of US$0.022 per ordinary share (US$0.066 per ADS), continuing to share the fruits of development with shareholders. Meanwhile, we steadily advanced our share repurchase program: as of June 30, 2026, the Company had cumulatively repurchased approximately 2.4 million ADSs for a total consideration of approximately US$3.8 million, with the remaining authorization of approximately US$16.2 million to be deployed for future repurchases, demonstrating our firm confidence in the Company's long-term value and future prospects through tangible actions.”

“Looking to the second half of the year, the Company will focus on the following key operational improvement initiatives: first, pursuing more targeted expansion in overseas markets, deepening our presence in core strategic markets such as North America and Southeast Asia, while improving localized operational efficiency; second, actively broadening our base of overseas strategic clients to fully leverage our Water Purifier Gigafactory’s scale effects and cost advantages; and third, comprehensively improving operational efficiency and optimizing our cost structure to return to profitability at the earliest opportunity and continue to generate sustainable returns for shareholders,” Mr. Chen concluded.

First Half 2026 Financial Results

REVENUES

Net revenues were RMB740.0 million (US$109.1 million), a decrease of 49.9% from RMB1,477.6 million for the same period of 2025, mainly due to the combined effect of the phase-out of government subsidies for core product categories and the high base in the same period last year.

• Home water systems. Revenues from home water systems were RMB473.4 million (US$69.8 million), a decrease of 55.3% from RMB1,058.3 million for the same period of 2025, primarily due to the decline in national subsidies for water purifiers.

• Consumables. Revenues from consumables were RMB131.7 million (US$19.4 million), an increase of 6.9% from RMB123.2 million for the same period of 2025, driven by the growing installed base of water purifiers, which boosted consumable revenue and partially offset the broader decline.

• Kitchen appliances and others. Revenues from kitchen appliances and others were RMB134.9 million (US$19.9 million), a decrease of 54.4% from RMB296.1 million for the same period of 2025, primarily due to a reduction in orders from Xiaomi, as well as a strategic contraction of Viomi-branded products in this category.

GROSS PROFIT

Gross profit was RMB177.7 million (US$26.2 million), compared to RMB391.2 million for the same period of 2025. Gross margin was 24.0%, compared to 26.5% for the same period of 2025. The decrease in gross margin was mainly due to the phase-out of national subsidies in the domestic market, which resulted in softer market demand and heightened competition and pricing pressure across our major product categories.

OPERATING EXPENSES

Total operating expenses were RMB247.0 million (US$36.4 million), a decrease of 12.2% from RMB281.4 million for the same period of 2025, primarily due to decreased general and administrative expenses, as well as a decrease in selling and marketing expenses.

Research and development expenses were RMB96.1 million (US$14.2 million), an increase of 7.6% from RMB89.3 million for the same period of 2025, mainly attributable to the expansion of our specialized technical talent pool to support new technology development, alongside higher depreciation and amortization charges arising from new capital investments.

Selling and marketing expenses were RMB109.6 million (US$16.1 million), a decrease of 15.1% from RMB129.0 million for the same period of 2025, mainly driven by the reduction in advertising and promotional spending in the domestic market, as well as lower platform service fees and logistics costs in line with revenue scale.

General and administrative expenses were RMB41.4 million (US$6.1 million), a decrease of 34.3% from RMB63.0 million for the same period of 2025, primarily attributable to tightened control over personnel expenditures, alongside a reduced allowance for credit losses.

INCOME (LOSS) FROM OPERATIONS

Loss from operations was RMB50.7 million (US$7.5 million), compared to income from operations of RMB118.8 million for the same period of 2025.

Non-GAAP operating loss1 was RMB44.1 million (US$6.5 million), compared to non-GAAP operating income of RMB126.0 million for the same period of 2025.

NET INCOME (LOSS)

Net loss attributable to ordinary shareholders of the Company was RMB26.3 million (US$3.9 million), compared to net income attributable to ordinary shareholders of the Company of RMB120.4 million for the same period of 2025.

Non-GAAP net loss attributable to ordinary shareholders2 of the Company was RMB19.6 million (US$2.9 million), compared to non-GAAP net income attributable to ordinary shareholders of the Company of RMB127.6 million for the same period of 2025.

1 “Non-GAAP operating income (loss)” is defined as income (loss) from operations excluding share-based compensation expenses. See “Use of Non-GAAP Measures” and “Reconciliation of GAAP and Non-GAAP Results” included in this press release.

2 “Non-GAAP net income (loss) attributable to ordinary shareholders of the Company” is defined as net income (loss) attributable to ordinary shareholders of the Company excluding share-based compensation expenses. See “Use of Non-GAAP Measures” and “Reconciliation of GAAP and Non-GAAP Results” included in this press release.

BALANCE SHEET

As of June 30, 2026, the Company had cash and cash equivalents of RMB603.8 million (US$89.0 million), restricted cash of RMB153.3 million (US$22.6 million), short-term deposits of RMB279.2 million (US$41.2 million), and short-term investments of RMB120.8 million (US$17.8 million), compared to RMB806.6 million, RMB164.4 million, RMB258.0 million, and RMB82.6 million, respectively, as of December 31, 2025.

For more information, please visit: http://ir.viomi.com.