ATRenew Inc.

	Dec-25	Dec-24	Dec-23	Dec-22	Dec-21	Dec-20	Dec-19	Dec-18
Total revenue	20.47	16.33	12.97	9.87	7.78	4.86	3.93	3.26
Cost of revenue	17.96	13.09	10.34	7.60	5.74	3.61	3.18	2.80
Gross profit	2.52	3.24	2.63	2.27	2.04	1.25	0.76	0.46
Total operating expenses +	2.11	3.21	2.80	4.90	2.94	1.71	1.49	0.72
Selling, general and administrative	0.28	0.31	0.27	0.23	0.43	0.18	0.80	0.43
Research and development	0.24	0.21	0.20	0.23	0.26	0.15	0.14	0.07
Other operating expenses	1.60	2.70	2.34	4.44	2.24	1.38	0.55	0.22
Operating income	0.40	0.03	-0.17	-2.62	-0.90	-0.46	-0.73	-0.26
Non-operating income (net)	-0.02	-0.09	-0.03	0.04	-0.07	-0.06	0.00	0.05
Income before tax	0.38	-0.07	-0.20	-2.58	-0.96	-0.52	-0.74	-0.21
Income tax expense	0.06	-0.06	-0.04	-0.11	-0.14	-0.05	-0.03	0.00
Net income	0.33	-0.01	-0.16	-2.47	-0.82	-0.47	-0.70	-0.21

Show Quarterly Income Statement

	Mar-26	Dec-25	Sep-25	Jun-25	Mar-25	Dec-24	Sep-24	Jun-24	Mar-24	Dec-23	Sep-23	Jun-23	Mar-23	Dec-22	Sep-22	Jun-22	Mar-22	Dec-21	Sep-21	Jun-21	Mar-21	Dec-20	Sep-20	Jun-20	Mar-20
Total revenue	6.16	6.25	5.15	4.99	4.64	4.85	4.05	3.78	3.65	3.87	3.26	2.96	2.87	2.98	2.54	2.15	2.21	2.44	1.96	1.87	1.51	1.64	1.33	1.20	0.69
Cost of revenue	4.82	5.03	4.09	3.96	3.64	3.91	3.24	2.99	2.95	3.15	2.61	2.33	2.25	2.37	1.93	1.65	1.64	1.80	1.44	1.40	1.10	1.24	0.98	0.89	0.50
Gross profit	1.34	1.22	1.05	1.03	1.01	0.94	0.81	0.79	0.70	0.72	0.65	0.64	0.62	0.61	0.60	0.49	0.57	0.64	0.52	0.47	0.42	0.41	0.34	0.31	0.19
Total operating expenses +	1.16	1.05	0.93	0.94	0.94	0.89	0.78	0.79	0.75	3.89	0.67	0.70	0.69	1.00	0.71	0.66	0.70	0.76	0.67	0.98	0.53	0.47	0.43	0.42	0.39
Selling, general and administrative	0.08	0.06	0.07	0.08	0.09	0.09	0.07	0.07	0.07	0.38	0.07	0.06	0.08	0.08	0.06	0.32	0.34	0.34	0.32	0.59	0.25	0.23	0.21	0.19	0.21
Research and development	0.07	0.06	0.06	0.06	0.05	0.06	0.05	0.05	0.05	0.06	0.04	0.05	0.05	0.05	0.05	0.06	0.06	0.06	0.07	0.08	0.06	0.04	0.04	0.03	0.04
Other operating expenses	1.00	0.93	0.80	0.80	0.79	0.74	0.66	0.67	0.62	3.45	0.56	0.60	0.56	0.87	0.60	0.28	0.30	0.36	0.29	0.31	0.22	0.20	0.18	0.19	0.14
Operating income	0.19	0.17	0.12	0.09	0.07	0.05	0.02	-0.01	-0.04	-0.02	-0.03	-0.06	-0.07	-2.21	-0.11	-0.17	-0.13	-0.13	-0.15	-0.51	-0.11	-0.06	-0.08	-0.12	-0.20
Non-operating income (net)	-0.03	-0.03	-0.01	0.00	-0.02	-0.01	-0.01	-0.01	-0.06	0.01	-0.03	-0.02	0.01	-0.01	0.07	0.03	-0.04	-0.05	0.01	-0.02	0.00	-0.04	-0.02	0.00	0.00
Income before tax	0.15	0.15	0.11	0.09	0.05	0.05	0.01	-0.02	-0.10	0.00	-0.05	-0.08	-0.06	-2.22	-0.04	-0.14	-0.17	-0.18	-0.14	-0.53	-0.11	-0.09	-0.11	-0.12	-0.20
Income tax expense	0.02	0.02	0.02	0.02	0.01	0.03	-0.01	-0.01	-0.01		-0.01	-0.01	-0.01	-0.07	-0.01	-0.01	-0.01	-0.08	-0.02	-0.02	-0.02	-0.01	-0.01	-0.01	-0.01
Net income	0.14	0.13	0.09	0.07	0.04	0.08	0.02	-0.01	-0.09	0.00	-0.04	-0.06	-0.05	-2.15	-0.03	-0.13	-0.16	-0.10	-0.12	-0.51	-0.09	-0.08	-0.09	-0.11	-0.19

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	Dec-25	Dec-24	Dec-23	Dec-22	Dec-21	Dec-20	Dec-19	Dec-18
Total cash and short-term investments +	1.81	2.61	2.43	2.52	1.89	1.03	0.55	0.67
Cash and cash equivalents	1.54	1.97	1.98	1.70	1.36	0.92	0.41	0.67
Short-term investments	0.27	0.64	0.45	0.82	0.54	0.12	0.14	0.01
Accounts receivable, net	0.80	0.04	0.04	0.15	0.02	0.01	0.00	0.01
Inventories	1.07	0.54	1.02	0.43	0.48	0.18	0.07	0.08
Other current assets	1.07	0.98	1.04	0.79	1.76	0.65	0.47	0.30
Total current assets	4.74	4.17	4.53	3.89	4.15	1.87	1.09	1.06
Total non-current assets +	1.23	0.92	0.97	1.16	3.35	3.35	3.69	0.17
Property, plant and equipment, net				0.20	0.17	0.07	0.10	0.07
Goodwill				0.00	1.80	1.80	1.80	0.00
Intangible assets	0.01	0.06	0.27	0.54	1.08	1.37	1.68	0.02
Long-term investments	0.49	0.56	0.47	0.22	0.24	0.10	0.09	0.07
Other non-current assets
Total assets	5.97	5.09	5.49	5.05	7.50	5.23	4.79	1.23

Total current liabilities +	1.90	1.31	1.69	1.02	0.82	1.18	0.76	0.59
Accounts payable	0.34	0.17	0.53	0.07	0.04	0.03	0.04	0.04
Short-term debt	0.32	0.27	0.38	0.17	0.13	0.56	0.36	0.33
Current portion of long-term debt	0.32	0.23	0.35	0.12	0.13	0.56	0.36	0.33
Deferred revenue
Other current liabilities	1.01	0.76	0.71	0.69	0.61	0.55	0.34	0.20
Total non-current liabilities +	0.07	0.09	0.09	0.14	0.26	9.25	7.47	2.50
Long-term debt						0.03
Capital lease obligations	0.13	0.13	0.06	0.03	0.03	0.00
Other non-current liabilities
Total liabilities	1.98	1.40	1.78	1.17	1.08	10.44	8.22	3.09

Total stockholders' equity +	3.99	3.69	3.71	3.88	6.42	-5.20	-3.44	-1.86
Common stock and paid-in capital	0.00	12.87	12.87	12.89	12.96	0.00	0.00	0.00
Retained earnings	3.99	-9.17	-9.16	-9.01	-6.54	-5.20	-3.44	-1.86
Common shares outstanding	365	242	243	244	144	28	28	29

Show Quarterly Balance Sheet

	Mar-26	Dec-25	Sep-25	Jun-25	Mar-25	Dec-24	Sep-24	Jun-24	Mar-24	Dec-23	Sep-23	Jun-23	Mar-23	Dec-22	Sep-22	Jun-22	Mar-22	Dec-21	Sep-21	Jun-21	Mar-21	Dec-20	Sep-20	Jun-20	Mar-20
Total cash and short-term investments +	1.26	1.81	2.17	1.92	2.39	2.55	1.98	2.28	2.08	2.39	1.78	2.09	2.21	2.49	2.28	2.25	2.01	1.87	2.28	2.84	0.67	1.03	0.00	0.00	0.55
Cash and cash equivalents	1.01	1.54	1.63	1.30	1.81	1.97	1.35	1.64	1.61	1.98	1.43	1.49	1.57	1.70	1.27	1.22	1.13	1.36	1.90	2.79	0.66	0.92			-0.55
Short-term investments	0.25	0.27	0.55	0.63	0.58	0.58	0.63	0.64	0.47	0.41	0.35	0.60	0.64	0.78	1.01	1.03	0.88	0.51	0.38	0.05	0.01	0.12			1.11
Accounts receivable, net	1.08	0.80	0.60	1.46	1.25	0.06	1.21	1.04	1.06	0.06	1.16	0.88	0.15	0.97	1.21	1.04	0.02	1.66	1.41	0.75	0.01	0.01
Inventories	1.48	1.07	0.70	0.81	0.74	0.54	0.68	0.66	0.85	1.02	0.67	0.74	0.58	0.43	0.45	0.67	0.67	0.48	0.50	0.35	0.32	0.18
Other current assets	0.94	1.07	0.91	0.10	0.10	1.08	0.13	0.23	0.23	0.03	1.37	1.09	1.00	0.43	1.21	1.18	1.49	0.07	1.41	1.06	0.87	0.65			-0.55
Total current assets	4.76	4.74	4.38	4.30	4.47	4.17	4.00	4.21	4.22	4.53	3.82	3.91	3.80	3.89	3.94	4.10	4.17	4.15	4.19	4.25	1.87	1.87			0.55
Total non-current assets +	1.21	1.23	0.91	0.90	0.89	0.92	0.97	0.91	0.95	0.97	1.01	1.09	1.17	1.16	3.10	3.17	3.24	3.35	3.40	3.34	3.28	3.35			-0.55
Property, plant and equipment, net											0.13	0.12		0.20	0.12	0.12	0.10	0.17	0.09	0.08	0.06
Goodwill	0.01								0.18					0.00	1.82	1.82	1.80	1.80	1.80	1.80	1.80	1.80
Intangible assets	0.01	0.01	0.01	0.01	0.03	0.06	0.10	0.15	0.20	0.27	0.34	0.40	0.47	0.54	0.83	0.91	0.99	1.08	1.16	1.24	1.29	1.37
Long-term investments	0.47	0.49	0.51	0.53	0.52	0.56	0.56	0.55	0.48	0.47	0.47	0.49	0.49	0.22	0.23	0.23	0.24	0.24	0.21	0.11	0.10	0.10
Other non-current assets
Total assets	5.96	5.97	5.30	5.20	5.36	5.09	4.97	5.12	5.17	5.49	4.84	5.01	4.96	5.05	7.05	7.28	7.41	7.50	7.59	7.58	5.15	5.23

Total current liabilities +	1.97	1.90	1.33	1.33	1.53	1.31	1.24	1.41	1.42	1.69	1.00	1.12	1.01	1.02	0.85	1.04	1.00	0.82	0.77	0.80	1.08	1.18
Accounts payable	0.22	0.34	0.15	0.14	0.15	0.17	0.11	0.07	0.13	0.53	0.12	0.07	0.08	0.07	0.06	0.07	0.07	0.04	0.05	0.05	0.04	0.03
Short-term debt	0.29	0.32	0.15	0.17	0.28	0.23	0.31	0.47	0.56		0.20	0.28	0.32	0.12	0.08	0.15	0.15	0.13	0.14	0.21	0.44	0.56
Current portion of long-term debt	0.29	0.32	0.15	0.17	0.28	0.23	0.31	0.47	0.56	0.35	0.20	0.28	0.32	0.12	0.08	0.15	0.15	0.13	0.14	0.21	0.44	0.56
Deferred revenue
Other current liabilities	1.18	1.01	0.95	0.92	1.10	0.91	0.82	0.87	0.64	0.23	0.68	0.77	0.61	0.63	0.72	0.83	0.77	0.44	0.58	0.55	0.59	0.55
Total non-current liabilities +	0.07	0.07	0.08	0.08	0.08	0.09	0.12	0.06	0.08	0.09	0.10	0.11	0.12	0.14	0.22	0.23	0.25	0.26	0.33	0.38	9.89	9.25
Long-term debt																			0.01	0.01	0.02	0.03
Capital lease obligations	0.06	0.13	0.08	0.07	0.08	0.13	0.08	0.01	0.02	0.06	0.02	0.02	0.02	0.03	0.04	0.04	0.04	0.03
Other non-current liabilities
Total liabilities	2.03	1.98	1.41	1.41	1.61	1.40	1.36	1.47	1.50	1.78	1.09	1.23	1.14	1.17	1.07	1.27	1.24	1.08	1.11	1.19	10.97	10.44

Total stockholders' equity +	3.93	3.99	3.89	3.79	3.74	3.69	3.61	3.65	3.68	3.71	3.74	3.78	3.83	3.88	5.97	6.01	6.17	6.42	6.48	6.39	-5.82	-5.21			3.64
Common stock and paid-in capital	-0.06	0.00	3.89	3.79	12.91	12.87	3.61	3.65	12.84	12.87	3.74	3.78	12.83	12.89	5.97	6.01	12.71	12.96	6.48	6.39	0.00	0.00	0.00	0.00	3.64
Retained earnings	3.99	3.99			-9.17	-9.17			-9.16	-9.16			-9.01	-9.01			-6.54	-6.54			-5.82	-5.21
Common shares outstanding	363	365	244	369	366	244	246	250	242	146	242	244	246	246	243	242	244	248	100	56	28	28	28	28	28

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	Dec-25	Dec-24	Dec-23	Dec-22	Dec-21	Dec-20	Dec-19	Dec-18
Operating cash flow +	-0.40	0.64	0.24	0.88	-1.02	-0.41	-0.41	-0.36
Net income
Depreciation, depletion and amortization	0.11	0.27	0.33	0.41	0.37	0.36	0.23	0.04
Stock-based compensation	0.05	0.17	0.13	0.17	0.45	0.00	0.00
Change in inventory	-0.56	0.46	-0.63	0.04	-0.30	-0.11	0.01	-0.03
Other working capital changes	-0.01	-0.25	0.41	0.27	-1.54	-0.66	-0.66	-0.37
Cash flow from investing +	-0.13	-0.42	0.17	-0.52	-0.67	0.02	-0.30	-0.11
Capital expenditures	-0.14	-0.06	-0.09	-0.06	-0.07	-0.04	-0.10	-0.06
Others incl. marketable securities changes	0.01	-0.36	0.26	-0.46	-0.60	0.06	-0.20	-0.04
Cash flow from financing +	-0.01	-0.31	0.07	-0.19	2.29	0.93	0.46	0.90
Dividend payout	0.00	0.00	0.00
Common stock repurchases	-0.09	-0.18	-0.16	-0.22	0.00	0.00	0.00	-0.02
Net Debt Issuance	0.08	-0.12	0.23	0.03	2.29	0.93	0.46	0.93

Change in cash	-0.55	-0.09	0.48	0.18	0.60	0.54	-0.26	0.44

Show Quarterly Cash Flow

	Mar-26	Dec-25	Sep-25	Jun-25	Mar-25	Dec-24	Sep-24	Jun-24	Mar-24	Dec-23	Sep-23	Jun-23	Mar-23	Dec-22	Sep-22	Jun-22	Mar-22	Dec-21	Sep-21	Jun-21	Mar-21	Dec-20	Sep-20	Jun-20	Mar-20
Operating cash flow +												0.02	0.02		0.03						-0.30		-0.30	-0.30	-0.20
Net income
Depreciation, depletion and amortization												0.01	0.01		0.01						0.09		0.09	0.09	0.09
Stock-based compensation				0.01	0.01	0.03	0.03	0.04	0.06		0.03	0.04	0.03		0.03
Change in inventory																					-0.14		-0.14	-0.14	-0.04
Other working capital changes	0.00	0.00	0.00	-0.01	-0.01	-0.03	-0.03	-0.04	-0.06	0.00	-0.03	-0.02	-0.02	0.00	-0.02	0.00	0.00	0.00	0.00	0.00	-0.25	0.00	-0.25	-0.25	-0.26
Cash flow from investing +																					0.09		0.09	0.09	0.01
Capital expenditures	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.01
Others incl. marketable securities changes	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.09	0.00	0.09	0.09	0.02
Cash flow from financing +																					-0.04		-0.04	-0.04	0.09
Dividend payout
Common stock repurchases																					-0.02				0.00
Net Debt Issuance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.03	0.00	-0.04	-0.04	0.09

Change in cash	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02	0.02	0.00	0.03	0.00	0.00	0.00	0.00	0.00	-0.26	0.00	-0.26	-0.26	-0.11