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

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

• Gross Margin for Q1 2026 came in at 31.8%, up 323.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 30.78% (up 367.0% YoY), and the FY2025 annual result was 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.
• Over five years, Gross Margin peaked at 49.98% in Q3 2022 and troughed at 23.71% in Q4 2023.
• Average Gross Margin over 5 years is 31.18%, with a median of 27.51% recorded in 2025.
• Year-over-year, Gross Margin surged 1085 bps in 2022 and plunged 2528 bps in 2023.
• Over 5 years, Gross Margin stood at 43.61% in 2022, then slumped by 46 bps to 23.71% in 2023, then increased by 14 bps to 27.03% in 2024, then grew by 16 bps to 31.37% in 2025, then rose by 1 bps to 31.8% in 2026.
• Per Business Quant data, the three most recent Gross Margin figures were 31.8% in Q1 2026, 31.37% in Q4 2025, and 31.22% in Q3 2025.