2024-03-19 13:30:00 ET
Summary
- ATRenew’s revenue rose 30% in the fourth quarter, as its non-GAAP operating margin improved by 0.9 percentage points on growing efficiencies.
- The company’s iPhone recycling collaboration with Apple generated an additional 300 million yuan in revenue during the fourth quarter.
- Even after the big jump in its stock price, ATRenew’s shares still trade at a relatively low price-to-sales (P/S) ratio of 0.20.
The recycling specialist has been profitable on a non-GAAP basis for the last two years, but made its first GAAP net profit in last year’s fourth quarter. ...
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ATRenew Polishes Recycling Credentials To Record First Profit