Here Announces Unaudited Financial Results for the Second Quarter of Fiscal Year 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 12 2026
0mins
Should l Buy HERE?
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy HERE?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on HERE
About HERE
Here Group Ltd, formerly QuantaSing Group Ltd, is a company mainly engaged in manufacturing collectible pop toys that spark joy and inspire global culture. The Company sells products mainly by HERE brand. The Company is also engaged in blind box and plush pendant card businesses. The Company’s Intellectual Property (IP) includes proprietary IPs, WAKUKU and ZIYULI, exclusive licensed IPs (SIINONO, IMPOPO PIX, YEAOHUA, VIVIMANI) and non-exclusive licensed IPs (ZHE GOU and QIMI DAN).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
HERE Group Reports 39.4% Revenue Growth in Q2 Earnings
- Significant Revenue Growth: HERE Group reported total revenue of RMB 177.3 million in Q2, reflecting a 39.4% quarter-over-quarter increase that exceeded the high end of guidance, showcasing the strong contribution of its flagship IP, Makuku, to market competitiveness.
- Declining Gross Margin: Despite revenue growth, gross margin fell from 41% to 31% due to lower unit margins from the strategic expansion of offline channels, which may impact future profitability and investor confidence.
- Narrowed Adjusted Net Loss: The company reported an adjusted net loss from continuing operations of RMB 16.1 million, improving from RMB 17.1 million in the previous quarter, indicating efforts in cost control and operational optimization.
- Cautious Future Outlook: The revenue guidance for Q3 FY2026 is set between RMB 540 million and RMB 550 million, suggesting a quarter-over-quarter decline of 15% to 20%, primarily due to seasonality and product launch schedules, highlighting both short-term challenges and opportunities ahead.
See More
HERE Releases Financial Outlook for FY 2026
- Financial Performance: HERE reported a Q2 Non-GAAP EPS of -$0.01 and revenue of $25.35 million, reflecting a significant 74.5% year-over-year decline, indicating severe challenges in market competition that may impact investor confidence.
- Intellectual Property Status: As of December 31, 2025, the company holds 18 intellectual properties, including 11 proprietary IPs, 5 exclusive licensed IPs, and 2 non-exclusive licensed IPs, showcasing a robust IP portfolio that could support future product development.
- Financial Outlook: The company expects revenues from its pop toy business to range between RMB 140 million to RMB 150 million for Q3 FY 2026, and RMB 750 million to RMB 800 million for FY 2026, reflecting a cautiously optimistic view of future market conditions.
- Market Prospects: Despite current financial struggles, the company's revenue expectations suggest potential in the toy market, and effective strategic execution could improve overall financial health and enhance competitive positioning.
See More
HERE Group Reports Q2 FY 2026 Financial Results with 39.4% Revenue Growth
- Significant Revenue Growth: HERE Group reported revenues of RMB 177.3 million (approximately USD 25.3 million) for Q2 FY 2026, representing a 39.4% increase from Q1, indicating strong market demand and business expansion capabilities post-independence.
- Narrowed Net Loss: The net loss from continuing operations for Q2 was RMB 25.4 million (approximately USD 3.6 million), an improvement from RMB 25.8 million in Q1, reflecting progress in cost control and operational efficiency.
- Strategic Channel Diversification: Sales and marketing expenses reached RMB 52.8 million (approximately USD 7.6 million) in Q2, primarily for brand promotion and customer acquisition, aimed at enhancing user engagement and brand loyalty through offline channels to drive long-term growth.
- Optimistic Future Outlook: The company anticipates revenues for Q3 FY 2026 to range between RMB 140 million and RMB 150 million, reflecting positive expectations for market demand and laying a foundation for sustainable long-term growth.
See More
HERE Technologies and Hyundai AutoEver Expand Navigation Partnership, Reducing Update Cycle by Over 5x
- Partnership Expansion: HERE Technologies and Hyundai AutoEver have announced the expansion of their online navigation partnership, providing real-time map content that enhances travel experiences for Hyundai, Kia, and Genesis vehicles.
- Data Update Efficiency: By leveraging HERE's highly accurate map data, Hyundai AutoEver has reduced its map data update cycle by over fivefold, enabling more accurate and timely navigation guidance for new roads and updated information, significantly enhancing driving safety.
- Market Leadership: According to Counterpoint Research, HERE has ranked No. 1 in the global location platform market for eight consecutive years, further solidifying its leadership position in the automotive industry and driving the development of software-defined vehicles.
- Future Development Plans: Hyundai AutoEver plans to evolve its online navigation service into a streaming navigation solution using HERE's APIs and SDKs, supporting automated driving functions and enhancing convenience and user experience for drivers.
See More
HERE Technologies Retains #1 Ranking in Omdia's 2025 Location Platform Index
- Industry Leadership: HERE Technologies has once again been ranked #1 in Omdia's 2025 Location Platform Index, reflecting its ongoing innovation and strategic partnerships that solidify its leadership in the rapidly evolving location technology market.
- Strategic Partnership: The $1 billion, 10-year alliance with AWS powers the SDV Accelerator, enabling a 70% increase in vehicle development speed and a 30% reduction in R&D costs, which will drive innovation and efficiency in the automotive sector.
- Global Expansion: Strategic partnerships with automotive leaders in China (Amap AutoNavi), India (Genesys International), and OEMs like BMW and Sony Honda Mobility enhance HERE's market presence and strengthen its position within the global automotive ecosystem.
- AI Innovation: HERE deploys advanced AI in its mapmaking and customer offerings, launching the SceneXtract solution that uses generative AI and NLP to automate scene generation for advanced driver assistance and automated driving, showcasing its forward-thinking approach in smart transportation.
See More
Here Group Reports Q1 FY 2026 Revenue of RMB 127.1 Million, Up 93.3%
- Significant Revenue Growth: Here Group reported Q1 FY 2026 revenue of RMB 127.1 million (approximately $17.9 million), representing a robust 93.3% increase from Q4 FY 2025, showcasing the company's strong performance and successful strategic transformation in the pop toy market.
- Improved Net Loss: The net loss for Q1 was RMB 25.8 million ($3.6 million), an increase from RMB 21.8 million in the previous quarter, reflecting ongoing financial challenges and the investment needs during the company's transformation process.
- Gross Margin Increase: The gross margin rose to 41.2% in Q1 from 34.7% in the prior quarter, indicating strong performance in the pop toy business model and enhancing confidence in future profitability.
- Optimistic Future Outlook: The company expects total revenues for FY 2026 to range between RMB 750 million and RMB 800 million, demonstrating confidence in the pop toy market and laying the groundwork for international expansion.
See More
HERE Group Reports 39.4% Revenue Growth in Q2 Earnings
- Significant Revenue Growth: HERE Group reported total revenue of RMB 177.3 million in Q2, reflecting a 39.4% quarter-over-quarter increase that exceeded the high end of guidance, showcasing the strong contribution of its flagship IP, Makuku, to market competitiveness.
- Declining Gross Margin: Despite revenue growth, gross margin fell from 41% to 31% due to lower unit margins from the strategic expansion of offline channels, which may impact future profitability and investor confidence.
- Narrowed Adjusted Net Loss: The company reported an adjusted net loss from continuing operations of RMB 16.1 million, improving from RMB 17.1 million in the previous quarter, indicating efforts in cost control and operational optimization.
- Cautious Future Outlook: The revenue guidance for Q3 FY2026 is set between RMB 540 million and RMB 550 million, suggesting a quarter-over-quarter decline of 15% to 20%, primarily due to seasonality and product launch schedules, highlighting both short-term challenges and opportunities ahead.
See More
HERE Releases Financial Outlook for FY 2026
- Financial Performance: HERE reported a Q2 Non-GAAP EPS of -$0.01 and revenue of $25.35 million, reflecting a significant 74.5% year-over-year decline, indicating severe challenges in market competition that may impact investor confidence.
- Intellectual Property Status: As of December 31, 2025, the company holds 18 intellectual properties, including 11 proprietary IPs, 5 exclusive licensed IPs, and 2 non-exclusive licensed IPs, showcasing a robust IP portfolio that could support future product development.
- Financial Outlook: The company expects revenues from its pop toy business to range between RMB 140 million to RMB 150 million for Q3 FY 2026, and RMB 750 million to RMB 800 million for FY 2026, reflecting a cautiously optimistic view of future market conditions.
- Market Prospects: Despite current financial struggles, the company's revenue expectations suggest potential in the toy market, and effective strategic execution could improve overall financial health and enhance competitive positioning.
See More
HERE Group Reports Q2 FY 2026 Financial Results with 39.4% Revenue Growth
- Significant Revenue Growth: HERE Group reported revenues of RMB 177.3 million (approximately USD 25.3 million) for Q2 FY 2026, representing a 39.4% increase from Q1, indicating strong market demand and business expansion capabilities post-independence.
- Narrowed Net Loss: The net loss from continuing operations for Q2 was RMB 25.4 million (approximately USD 3.6 million), an improvement from RMB 25.8 million in Q1, reflecting progress in cost control and operational efficiency.
- Strategic Channel Diversification: Sales and marketing expenses reached RMB 52.8 million (approximately USD 7.6 million) in Q2, primarily for brand promotion and customer acquisition, aimed at enhancing user engagement and brand loyalty through offline channels to drive long-term growth.
- Optimistic Future Outlook: The company anticipates revenues for Q3 FY 2026 to range between RMB 140 million and RMB 150 million, reflecting positive expectations for market demand and laying a foundation for sustainable long-term growth.
See More
HERE Technologies and Hyundai AutoEver Expand Navigation Partnership, Reducing Update Cycle by Over 5x
- Partnership Expansion: HERE Technologies and Hyundai AutoEver have announced the expansion of their online navigation partnership, providing real-time map content that enhances travel experiences for Hyundai, Kia, and Genesis vehicles.
- Data Update Efficiency: By leveraging HERE's highly accurate map data, Hyundai AutoEver has reduced its map data update cycle by over fivefold, enabling more accurate and timely navigation guidance for new roads and updated information, significantly enhancing driving safety.
- Market Leadership: According to Counterpoint Research, HERE has ranked No. 1 in the global location platform market for eight consecutive years, further solidifying its leadership position in the automotive industry and driving the development of software-defined vehicles.
- Future Development Plans: Hyundai AutoEver plans to evolve its online navigation service into a streaming navigation solution using HERE's APIs and SDKs, supporting automated driving functions and enhancing convenience and user experience for drivers.
See More
HERE Technologies Retains #1 Ranking in Omdia's 2025 Location Platform Index
- Industry Leadership: HERE Technologies has once again been ranked #1 in Omdia's 2025 Location Platform Index, reflecting its ongoing innovation and strategic partnerships that solidify its leadership in the rapidly evolving location technology market.
- Strategic Partnership: The $1 billion, 10-year alliance with AWS powers the SDV Accelerator, enabling a 70% increase in vehicle development speed and a 30% reduction in R&D costs, which will drive innovation and efficiency in the automotive sector.
- Global Expansion: Strategic partnerships with automotive leaders in China (Amap AutoNavi), India (Genesys International), and OEMs like BMW and Sony Honda Mobility enhance HERE's market presence and strengthen its position within the global automotive ecosystem.
- AI Innovation: HERE deploys advanced AI in its mapmaking and customer offerings, launching the SceneXtract solution that uses generative AI and NLP to automate scene generation for advanced driver assistance and automated driving, showcasing its forward-thinking approach in smart transportation.
See More
Here Group Reports Q1 FY 2026 Revenue of RMB 127.1 Million, Up 93.3%
- Significant Revenue Growth: Here Group reported Q1 FY 2026 revenue of RMB 127.1 million (approximately $17.9 million), representing a robust 93.3% increase from Q4 FY 2025, showcasing the company's strong performance and successful strategic transformation in the pop toy market.
- Improved Net Loss: The net loss for Q1 was RMB 25.8 million ($3.6 million), an increase from RMB 21.8 million in the previous quarter, reflecting ongoing financial challenges and the investment needs during the company's transformation process.
- Gross Margin Increase: The gross margin rose to 41.2% in Q1 from 34.7% in the prior quarter, indicating strong performance in the pop toy business model and enhancing confidence in future profitability.
- Optimistic Future Outlook: The company expects total revenues for FY 2026 to range between RMB 750 million and RMB 800 million, demonstrating confidence in the pop toy market and laying the groundwork for international expansion.
See More
