MEDIROM Healthcare Technologies Inc. (MRM) Revenue History
Annual and quarterly revenue from 2018 to present
MRM Revenue Over Time (2018–2024)
MRM Revenue Growth History
4 of 6 years with positive growth- FY2018 revenue growth
- N/A
- FY2019 revenue growth
- +13.8%
- FY2020 revenue growth
- -14.5%
- FY2021 revenue growth
- +61.9%
- FY2022 revenue growth
- +28.5%
- FY2023 revenue growth
- -1.8%
- FY2024 revenue growth
- +21.5%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2025 | $3.15B | -9.3% |
| Q4 2024 | $4.82B | +34.6% |
| Q2 2024 | $3.48B | +7.2% |
| Q4 2023 | $3.59B | -5.8% |
| Q2 2023 | $3.24B | +106.1% |
| Q4 2022 | $3.81B | +132.0% |
| Q2 2022 | $1.57B | -26.0% |
| Q4 2021 | $1.64B | +65.3% |
Revenue Breakdown (FY 2024)
MRM's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
MRM Revenue Analysis (2018–2024)
Current Revenue & Growth
As of June 29, 2026, MEDIROM Healthcare Technologies Inc. (MRM) generated trailing twelve-month (TTM) revenue of $15.04 billion, reflecting moderate decline in growth of -9.3% year-over-year. The most recent quarter (Q2 2025) recorded $3.15 billion in revenue, down 34.7% sequentially.
Historical Growth Trajectory
MRM's 5-year compound annual growth rate (CAGR) stands at +16.3%, indicating consistent double-digit revenue growth. The 3-year CAGR of +15.3% is below the 5-year average, signalling a growth deceleration in recent years. MEDIROM Healthcare Technologies Inc.'s highest annual revenue of $8.30 billion was recorded in 2024, an all-time high.
Revenue by Segment
MRM's revenue is primarily driven by Franchise (26%), Sublease revenue (26%), and Other franchise revenues (15%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Consumer Cyclical sector peers — including XPOF (-6.1% YoY), PLNT (+14.4% YoY), and HIMS (+32.8% YoY) — MRM has underperformed the peer group in revenue growth. Compare MRM vs XPOF →
MRM Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MRMCurrent | $15.0B | -9.3% | +16.3% | -0.2% | |
 XPOF | $315M | -6.1% | +24.2% | 25.3% | |
 PLNT | $1.3B | +14.4% | +26.6% | 29.8% | |
 HIMS | $2.3B | +32.8% | +73.6% | 4.5% | |
 ACMR | $901M | +19.7% | +41.9% | 12.1% |
MRM Historical Revenue Data (2018–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $8.30B | +21.5% | $2.25B | 27.1% | $-18,102,000 | -0.2% |
| 2023 | $6.83B | -1.8% | $1.57B | 23.0% | $-391,579,000 | -5.7% |
| 2022 | $6.95B | +28.5% | $1.90B | 27.4% | $97.0M | 1.4% |
| 2021 | $5.41B | +61.9% | $1.42B | 26.2% | $-470,587,000 | -8.7% |
| 2020 | $3.34B | -14.5% | $428.9M | 12.8% | $-746,088,000 | -22.3% |
| 2019 | $3.91B | +13.8% | $950.8M | 24.3% | $34.4M | 0.9% |
| 2018 | $3.43B | - | $956.9M | 27.9% | $73.3M | 2.1% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
8+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
MRM — Frequently Asked Questions
Quick answers to the most common questions about buying MRM stock.
Is MRM's revenue growth accelerating or slowing?
MRM revenue is declining -9.3% year-over-year. TTM revenue fell to $15.0B, contrasting with the 5-year CAGR of +16.3%. The reversal reflects either macro headwinds or company-specific challenges.
What is MRM's revenue history from 2018 to 2026?
MEDIROM Healthcare Technologies Inc. (MRM) revenue history spans 2018 to 2026. TTM revenue as of 2026 is $15.0B, growing at -9.3% YoY. The 5-year CAGR is +16.3%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is MRM's long-term revenue growth rate (CAGR)?
MEDIROM Healthcare Technologies Inc.'s 5-year revenue CAGR of +16.3% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -9.3% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for MRM.
Why does MRM's quarterly revenue fluctuate?
MRM quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. MEDIROM Healthcare Technologies Inc.'s revenue data from 2018 to 2026 shows full historical quarterly detail on this page.
How is MRM's revenue distributed by segment?
MRM reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does MRM's revenue compare to industry peers?
MEDIROM Healthcare Technologies Inc. (MRM) with TTM revenue of $15.0B and -9.3% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.