RLX Technology (RLX) Gross Margin (2019 - 2026)

RLX Technology has reported Gross Margin for 8 years, with the latest figure at 31.8% in Q1 2026.

• For the quarter ending Q1 2026, Gross Margin rose 323.0% year-over-year to 31.8%; the trailing twelve-month figure through Mar 2026 stood at 30.78% (up 367.0% YoY), and the FY2025 full-year result was 29.9%, up 347.0% from the prior year.
• Gross Margin for Q1 2026 stood at 31.8%, up from 31.37% in the prior quarter.
• The five-year high for Gross Margin was 49.98% in Q3 2022, with the low at 23.71% in Q4 2023.
• Historically, Gross Margin has averaged 31.18% across 5 years, with a median of 27.51% in 2025.
• Annual changes were most pronounced in 2022 — Gross Margin soared 1085 bps — and 2023, when it slumped 2528 bps.
• RLX Technology's Gross Margin stood at 43.61% in 2022, then tumbled by 46 bps to 23.71% in 2023, then advanced by 14 bps to 27.03% in 2024, then gained by 16 bps to 31.37% in 2025, then climbed by 1 bps to 31.8% in 2026.
• The last three Gross Margin figures came in at 31.8% (Q1 2026), 31.37% (Q4 2025), and 31.22% (Q3 2025), per Business Quant data.