RLX Technology Inc. (RLX) Revenue History
Annual and quarterly revenue from 2018 to 2024
Compound Annual Growth Rate (CAGR)
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RLX Revenue Growth
Revenue Breakdown
RLX's revenue distribution by segment and geography
By Geography
RLX Revenue Analysis (2018–2024)
As of May 8, 2026, RLX Technology Inc. (RLX) generated trailing twelve-month (TTM) revenue of $3.27 billion, reflecting explosive growth of +52.2% year-over-year. The most recent quarter (Q3 2025) recorded $1.03 billion in revenue, up 30.2% sequentially.
Looking at the longer-term picture, RLX's 5-year compound annual growth rate (CAGR) stands at +9.5%, indicating steady revenue expansion. The company achieved its highest annual revenue of $8.52 billion in 2021.
When compared to Consumer Defensive sector peers including MO (+7.7% YoY), PM (+8.1% YoY), and BTI (-5.2% YoY), RLX has underperformed the peer group in terms of revenue growth. Compare RLX vs MO →
RLX Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| RLXCurrent | $3.3B | +52.2% | +9.5% | -4.4% | |
 MO | $20.1B | +7.7% | -0.7% | 74.8% | |
 PM | $40.6B | +8.1% | +7.2% | 36.7% | |
 BTI | $25.9B | -5.2% | -0.0% | 10.6% | |
 TPB | $463M | +25.2% | +2.7% | 20.6% | |
 XXII | $18M | +75.4% | -9.0% | -64.9% |
RLX Historical Revenue Data (2018–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $2.44B | +96.5% | $726.5M | 29.7% | $-107,145,000 | -4.4% |
| 2023 | $1.24B | -76.7% | $387.7M | 31.2% | $-496,710,000 | -39.9% |
| 2022 | $5.33B | -37.4% | $2.31B | 43.2% | $1.06B | 19.9% |
| 2021 | $8.52B | +123.1% | $3.67B | 43.1% | $2.30B | 27.0% |
| 2020 | $3.82B | +146.5% | $1.53B | 40.0% | $13.1M | 0.3% |
| 2019 | $1.55B | +1068.3% | $580.9M | 37.5% | $56.4M | 3.6% |
| 2018 | $132.6M | - | $59.2M | 44.7% | $2.2M | 1.7% |
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Start ComparisonRLX — Frequently Asked Questions
Quick answers to the most common questions about buying RLX stock.
Is RLX's revenue growth accelerating or slowing?
RLX revenue is accelerating at +52.2% year-over-year, exceeding the 5-year CAGR of +9.5%. TTM revenue reached $3.3B. Growth momentum has increased versus prior periods.
What is RLX's long-term revenue growth rate?
RLX Technology Inc.'s 5-year revenue CAGR of +9.5% reflects the sustained expansion pattern. Current YoY growth of +52.2% is above this long-term average.
How is RLX's revenue distributed by segment?
RLX reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2018-2024 are available for download. Segment mix reveals concentration and diversification trends.