So-Young International (SY) Research & Development (2018 - 2026)
So-Young International (SY) posted Research & Development of -$3.6 million for Q2 2026, down 1.96% on a QoQ basis from -$3.5 million in Q1 2026, and up 17.35% year-over-year from -$3.1 million in Q2 2025.
Analysis
So-Young International (SY) Research & Development (2018 - 2026) Analysis & Trends
So-Young International has reported Research & Development for 9 years, with the latest figure at -$3.6 million in Q2 2026.
- On a quarterly basis, Research & Development rose 17.35% year-over-year to -$3.6 million in Q2 2026; TTM through Jun 2026 was -$17.6 million, a 13.66% increase from a year earlier, with the FY2025 full-year figure at -$19.6 million, up 13.33% from the prior year.
- Research & Development was -$3.6 million for Q2 2026 at So-Young International, down from -$3.5 million in the prior quarter.
- The five-year high for Research & Development was -$3.5 million in Q1 2026, with the low at -$12.5 million in Q1 2022.
- Average Research & Development over 5 years is -$6.3 million, with a median of -$5.9 million recorded in 2024.
- The largest YoY upside for Research & Development was 43.8% in 2022 against a maximum downside of 16.88% in 2022.
- Over 5 years, Research & Development stood at -$6.0 million in 2022, then fell by 6.43% to -$6.3 million in 2023, then increased by 7.57% to -$5.9 million in 2024, then rose by 8.61% to -$5.4 million in 2025, then soared by 32.8% to -$3.6 million in 2026.
- The last three Research & Development figures came in at -$3.6 million (Q2 2026), -$3.5 million (Q1 2026), and -$5.4 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Davita | 11.76 Bn | 12.64 Bn | 1.16 Bn | - |
| 2 | RadNet | 5.80 Bn | 5.37 Bn | 88.08 Mn | - |
| 3 | Concentra Group Holdings Parent | 4.40 Bn | 4.26 Bn | 192.10 Mn | - |
| 4 | Privia Health | 2.61 Bn | 2.25 Bn | - | 8.00 Mn |
| 5 | Pediatrix Medical | 2.20 Bn | 1.79 Bn | - | - |
| 6 | Fresenius Medical Care AG | 2.11 Bn | 1.41 Bn | 1.52 Bn | 46.06 Mn |
| 7 | Progyny | 2.01 Bn | 1.77 Bn | 89.30 Mn | 18.07 Mn |
| 8 | Surgery Partners | 1.87 Bn | 3.08 Bn | 622.10 Mn | - |
| 9 | U S Physical Therapy | 1.18 Bn | 1.47 Bn | 41.94 Mn | - |
| 10 | So-Young International | 42.55 Mn | -72.69 Mn | 32.84 Mn | -3.60 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -3.60 Mn |
| Mar 31, 2026 | -3.53 Mn |
| Dec 31, 2025 | -5.35 Mn |
| Sep 30, 2025 | -5.10 Mn |
| Jun 30, 2025 | -4.35 Mn |
| Mar 31, 2025 | -4.43 Mn |
| Dec 31, 2024 | -5.86 Mn |
| Sep 30, 2024 | -5.73 Mn |
| Jun 30, 2024 | -5.85 Mn |
| Mar 31, 2024 | -5.48 Mn |
| Dec 31, 2023 | -6.34 Mn |
| Sep 30, 2023 | -6.94 Mn |
| Jun 30, 2023 | -7.19 Mn |
| Mar 31, 2023 | -8.12 Mn |
| Dec 31, 2022 | -5.95 Mn |
| Sep 30, 2022 | -7.31 Mn |
| Jun 30, 2022 | -9.42 Mn |
| Mar 31, 2022 | -12.45 Mn |
| Dec 31, 2021 | -10.60 Mn |
| Sep 30, 2021 | -11.97 Mn |