So-Young International Inc. (SY) Revenue History
Annual and quarterly revenue from 2016 to present
SY Revenue Over Time (2016–2025)
SY Revenue Growth History
7 of 9 years with positive growth- FY2016 revenue growth
- N/A
- FY2017 revenue growth
- +428.2%
- FY2018 revenue growth
- +138.0%
- FY2019 revenue growth
- +86.6%
- FY2020 revenue growth
- +12.4%
- FY2021 revenue growth
- +30.7%
- FY2022 revenue growth
- -25.7%
- FY2023 revenue growth
- +19.1%
- FY2024 revenue growth
- -2.1%
- FY2025 revenue growth
- +1.0%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $454.4M | +23.1% |
| Q3 2025 | $386.7M | +4.0% |
| Q2 2025 | $378.7M | -7.0% |
| Q1 2025 | $297.3M | -6.6% |
| Q4 2024 | $369.2M | -5.5% |
| Q3 2024 | $371.8M | -3.5% |
| Q2 2024 | $407.4M | -1.1% |
| Q1 2024 | $318.3M | +2.6% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
SY's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
SY Revenue Analysis (2016–2025)
Current Revenue & Growth
As of June 24, 2026, So-Young International Inc. (SY) generated trailing twelve-month (TTM) revenue of $1.52 billion, reflecting exceptional growth of +23.1% year-over-year. The most recent quarter (Q4 2025) recorded $454.4 million in revenue, up 17.5% sequentially.
Historical Growth Trajectory
SY's 5-year compound annual growth rate (CAGR) stands at +2.7%, indicating moderate growth over time. The 3-year CAGR of +5.6% exceeds the 5-year average, indicating an acceleration in the most recent period. So-Young International Inc.'s highest annual revenue of $1.69 billion was recorded in 2021.
Revenue by Segment
SY's revenue is primarily driven by Service, Other (100%). With over half of revenue concentrated in Service, Other, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Healthcare sector peers — including MTCH (+2.0% YoY), YELP (+2.1% YoY), and ANGI (-9.1% YoY) — SY has outperformed the peer group in revenue growth. Compare SY vs MTCH →
SY Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SYCurrent | $1.5B | +23.1% | +2.7% | -17.5% | |
 MTCH | $3.5B | +2.0% | +7.8% | 25.0% | |
 YELP | $1.5B | +2.1% | +10.9% | 12.6% | |
 ANGI | $1.0B | -9.1% | -6.8% | 7.6% | |
 DOCS | $645M | +13.1% | +25.5% | 33.3% | |
 SKIN | $301M | -8.2% | +20.4% | -6.9% |
SY Historical Revenue Data (2016–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.48B | +1.0% | $707.9M | 47.8% | $-259,207,151 | -17.5% |
| 2024 | $1.47B | -2.1% | $899.1M | 61.3% | $-624,492,000 | -42.6% |
| 2023 | $1.50B | +19.1% | $953.7M | 63.7% | $-61,047,000 | -4.1% |
| 2022 | $1.26B | -25.7% | $864.6M | 68.7% | $-102,805,000 | -8.2% |
| 2021 | $1.69B | +30.7% | $1.36B | 80.6% | $-32,570,000 | -1.9% |
| 2020 | $1.29B | +12.4% | $1.08B | 83.6% | $-56,694,000 | -4.4% |
| 2019 | $1.15B | +86.6% | $953.0M | 82.8% | $145.2M | 12.6% |
| 2018 | $617.2M | +138.0% | $525.7M | 85.2% | $49.1M | 8.0% |
| 2017 | $259.3M | +428.2% | $214.5M | 82.7% | $24.8M | 9.5% |
| 2016 | $49.1M | - | $23.9M | 48.7% | $-74,283,000 | -151.3% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
10+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
SY — Frequently Asked Questions
Quick answers to the most common questions about buying SY stock.
Is SY's revenue growth accelerating or slowing?
SY revenue growth is accelerating. TTM revenue reached $1.5B, up +23.1% year-over-year — ahead of the 5-year CAGR of +2.7%. This indicates the business is expanding faster than its historical baseline.
What is SY's revenue history from 2016 to 2026?
So-Young International Inc. (SY) revenue history spans 2016 to 2026. TTM revenue as of 2026 is $1.5B, growing at +23.1% YoY. The 5-year CAGR is +2.7%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is SY's long-term revenue growth rate (CAGR)?
So-Young International Inc.'s 5-year revenue CAGR of +2.7% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +23.1% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for SY.
Why does SY's quarterly revenue fluctuate?
SY 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. So-Young International Inc.'s revenue data from 2016 to 2026 shows full historical quarterly detail on this page.
How is SY's revenue distributed by segment?
SY 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 SY's revenue compare to industry peers?
So-Young International Inc. (SY) with TTM revenue of $1.5B and +23.1% 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.