So-Young International (SY) Operating Expenses (2018 - 2026)
So-Young International (SY) posted Operating Expenses of -$39.3 million for Q2 2026, down 13.04% on a QoQ basis from -$34.7 million in Q1 2026, and down 16.6% year-over-year from -$47.1 million in Q2 2025.
Analysis
So-Young International (SY) Operating Expenses (2018 - 2026) Analysis & Trends
So-Young International has reported Operating Expenses for 9 years, with the latest figure at -$39.3 million in Q2 2026.
- On a quarterly basis, Operating Expenses fell 16.6% year-over-year to -$39.3 million in Q2 2026; TTM through Jun 2026 was -$156.8 million, a 22.96% increase from a year earlier, with the FY2025 full-year figure at -$145.0 million, up 30.54% from the prior year.
- Operating Expenses was -$39.3 million for Q2 2026 at So-Young International, down from -$34.7 million in the prior quarter.
- The five-year high for Operating Expenses was -$26.1 million in Q1 2025, with the low at -$111.7 million in Q4 2024.
- Average Operating Expenses over 5 years is -$39.6 million, with a median of -$34.3 million recorded in 2024.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses slumped 207.55% in 2024, then jumped 58.04% in 2025.
- Over 5 years, Operating Expenses stood at -$30.8 million in 2022, then dropped by 17.81% to -$36.3 million in 2023, then plunged by 207.55% to -$111.7 million in 2024, then surged by 58.04% to -$46.9 million in 2025, then grew by 16.19% to -$39.3 million in 2026.
- The last three Operating Expenses figures came in at -$39.3 million (Q2 2026), -$34.7 million (Q1 2026), and -$46.9 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Davita | 11.76 Bn | 12.64 Bn | 1.16 Bn | 2.98 Bn |
| 2 | RadNet | 5.80 Bn | 5.37 Bn | 88.08 Mn | 583.25 Mn |
| 3 | Concentra Group Holdings Parent | 4.40 Bn | 4.26 Bn | 192.10 Mn | 490.51 Mn |
| 4 | Privia Health | 2.61 Bn | 2.25 Bn | - | 620.86 Mn |
| 5 | Pediatrix Medical | 2.20 Bn | 1.79 Bn | - | 430.86 Mn |
| 6 | Fresenius Medical Care AG | 2.11 Bn | 1.41 Bn | 1.52 Bn | 901.58 Mn |
| 7 | Progyny | 2.01 Bn | 1.77 Bn | 89.30 Mn | 49.30 Mn |
| 8 | Surgery Partners | 1.87 Bn | 3.08 Bn | 622.10 Mn | 746.80 Mn |
| 9 | U S Physical Therapy | 1.18 Bn | 1.47 Bn | 41.94 Mn | 172.12 Mn |
| 10 | So-Young International | 42.55 Mn | -72.69 Mn | 32.84 Mn | -39.28 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -39.28 Mn |
| Mar 31, 2026 | -34.75 Mn |
| Dec 31, 2025 | -46.86 Mn |
| Sep 30, 2025 | -35.90 Mn |
| Jun 30, 2025 | -33.68 Mn |
| Mar 31, 2025 | -26.08 Mn |
| Dec 31, 2024 | -111.69 Mn |
| Sep 30, 2024 | -32.06 Mn |
| Jun 30, 2024 | -33.80 Mn |
| Mar 31, 2024 | -32.94 Mn |
| Dec 31, 2023 | -36.32 Mn |
| Sep 30, 2023 | -33.54 Mn |
| Jun 30, 2023 | -38.95 Mn |
| Mar 31, 2023 | -33.46 Mn |
| Dec 31, 2022 | -30.82 Mn |
| Sep 30, 2022 | -33.26 Mn |
| Jun 30, 2022 | -36.82 Mn |
| Mar 31, 2022 | -42.83 Mn |
| Dec 31, 2021 | -58.36 Mn |
| Sep 30, 2021 | -50.06 Mn |