YSG - Yatsen Holding -10% after Q1 bottom line disappoints

Yatsen Holding (YSG) is down 10% after reporting bottom-line miss in its first-quarter earnings results.However, revenue of $220.5M (+42.7% Y/Y) beats consensus by $8.44M.Gross margin was 68.6% vs. 61.7% a year ago.The number of direct-to-consumer increased 11.6% Y/Y to 9.6M.Revenue per DTC customer increased 24.5% to RMB122.9."Growth in the quarter was driven by stellar performance of our flagship Perfect Diary brand as well as robust growth from Little Ondine, Abby's Choice and other brands under Yatsen's portfolio......The launch of our mass market cosmetics brand Pink Bear as well as the acquisition of Eve Lom and DR.WU's mainland China business this quarter propelled our brand portfolio expansion," says Founder, Chairman and CEO Jinfeng Huang.Research and development expenses of $4.2MLoss from operations of $52.4M representing operating loss margin of 23.8% vs. 17.4% a year ago.Non-GAAP EPS of -$0.06 misses by $0.04; GAAP EPS of -$0.08 misses by $0.01.The company ended the quarter with $660.3M in cash and cash equivalents.Q2 2021 Outlook: The company expects

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Yatsen Holding -10% after Q1 bottom line disappoints