So-Young International Inc. (SY) Revenue History
Annual and quarterly revenue from 2016 to 2024
Compound Annual Growth Rate (CAGR)
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SY Revenue Growth
Revenue Breakdown (FY 2023)
SY's revenue distribution by segment and geography for fiscal year 2023
By Product/Segment
SY Revenue Analysis (2016–2024)
As of May 8, 2026, So-Young International Inc. (SY) generated trailing twelve-month (TTM) revenue of $1.43 billion, reflecting modest growth of +4.0% year-over-year. The most recent quarter (Q3 2025) recorded $386.7 million in revenue, up 2.1% sequentially.
Looking at the longer-term picture, SY's 5-year compound annual growth rate (CAGR) stands at +5.0%, indicating moderate growth over time. The company achieved its highest annual revenue of $1.69 billion in 2021.
Revenue diversification analysis shows SY's business is primarily driven by Services And Others (100%). With over half of revenue concentrated in Services And Others, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including MTCH (+2.0% YoY), YELP (+2.1% YoY), and ANGI (-9.1% YoY), SY has underperformed the peer group in terms of 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 | $1.4B | +4.0% | +5.0% | -42.6% | |
 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 | $570M | +15.9% | +37.4% | 39.9% | |
 SKIN | $301M | -8.2% | +20.4% | -6.9% |
SY Historical Revenue Data (2016–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 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% |
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Start ComparisonSY — 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 slowed to +4.0%, below the 5-year CAGR of +5.0%. TTM revenue is $1.4B. The deceleration marks a shift from historical growth rates.
What is SY's long-term revenue growth rate?
So-Young International Inc.'s 5-year revenue CAGR of +5.0% reflects the variable expansion pattern. Current YoY growth of +4.0% is near this long-term average.
How is SY's revenue distributed by segment?
SY reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2016-2024 are available for download. Segment mix reveals concentration and diversification trends.