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

RLX Technology's Gross Margin history runs 8 years deep, the most recent figure standing at 31.8% for Q1 2026.

• Quarterly Gross Margin rose 323.0% year-over-year to 31.8% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 30.78% (up 367.0% YoY) and the FY2025 annual result came in at 29.9%, up 347.0% from the prior year.
• Gross Margin was 31.8% for Q1 2026 at RLX Technology, up from 31.37% in the prior quarter.
• Across five years, Gross Margin topped out at 49.98% in Q3 2022 and bottomed at 23.71% in Q4 2023.
• A 5-year average of 31.18% and a median of 27.51% in 2025 frame the typical range for Gross Margin.
• Annual changes were most pronounced in 2022 — Gross Margin soared 1085 bps — and 2023, when it sank 2528 bps.
• RLX Technology's Gross Margin stood at 43.61% in 2022, then sank by 46 bps to 23.71% in 2023, then grew by 14 bps to 27.03% in 2024, then climbed by 16 bps to 31.37% in 2025, then increased by 1 bps to 31.8% in 2026.
• Business Quant data shows RLX's Gross Margin at 31.8% in Q1 2026, 31.37% in Q4 2025, and 31.22% in Q3 2025.