Zepp Health Corporation Reports Second Quarter 2024 Unaudited Financial Results

MILPITAS, Calif., Aug. 22, 2024 /PRNewswire/ -- Zepp Health Corporation ("Zepp" or the "Company") (NYSE: ZEPP) today reported revenues of US$40.6 million; a basic and diluted net loss per share of US$0.04; and a basic and diluted net loss per ADS of US$0.17 for the second quarter ended June 30, 2024; adjusted basic and diluted net loss per share of US$0.04; and adjusted basic and diluted net loss per ADS of US$0.15. Each ADS represents four Class A ordinary shares.

Starting from the second quarter of 2024, the Company changed its reporting currency from Renminbi ("RMB") to U.S.dollar ("US$"), to reduce the impact of increased volatility of the RMB to US$ exchange rate on the Company's reported operating results. Since self-branded products sales of the Company is more heavily exposed to U.S. dollar or quasi-U.S. dollar denominated markets, changing the reporting currency to US$ will more accurately reflect the Company's performance and underlying nature of its operations. Prior period numbers have been recast into the new reporting currency accordingly.