Viomi Technology Co ( (VIOT) ) has released its Q4 earnings. Here is a breakdown of the information Viomi Technology Co presented to its investors.
Viomi Technology Co., Ltd is a leading technology company in China specializing in home water solutions, known for its innovative use of AI technology to enhance water purification systems.
In its latest financial report, Viomi Technology Co., Ltd announced a significant increase in net revenues and income from operations for the full year 2024, surpassing previous guidance. The company attributes this growth to its strategic reorganization and focus on core home water solutions.
Key financial highlights include a 29.3% increase in full-year net revenues, reaching RMB2,119.0 million, and a 42.0% rise in income from operations. The company also reported a net income of RMB62.3 million, reversing previous losses. The reorganization involved divesting non-core IoT@Home products, allowing Viomi to concentrate on its home water systems, which saw a 39.0% revenue growth.
Despite a decrease in gross margin due to a shift in product mix, Viomi’s strategic focus on home water solutions and operational efficiency has positioned it well for future growth. The company plans to leverage its expertise in AI technology to continue innovating and expanding its market presence globally.
Looking ahead, Viomi is optimistic about its growth prospects, driven by increasing demand for healthy drinking water and supportive market conditions. The company aims to strengthen its domestic market presence, expand internationally, and continue leading innovation in the water purification industry.