Here Group Ltd

HERE

Market cap $123M

Shares of Here Group, Zepp Health, Burning Rock Biotech and So-Young International all posted meteoric gains last year, but have given most of that back in 2026

Here Group remains deeply discounted, trading below net cash and NCAV, despite recent setbacks and a ~25% guidance cut. WAKUKU's sales dropped sharply, but SIINONO accelerated, and gross margin improved to 34.5%, with fixed costs managed via pop-up stores and autonomous PoS. Cash burn remains a concern, but with $97 million cash on hand and buybacks authorized, liquidity covers at least 11–14 quarters even with continued losses.

Here Group Limited (HERE) Q3 2026 Earnings Call Transcript

BEIJING, June 05, 2026 (GLOBE NEWSWIRE) -- Here Group Limited (NASDAQ: HERE) (“Here” or the “Company”), an IP1-based pop toy company dedicated to creating beloved collectibles and trend-defining experiences, today announced its unaudited financial results for the third quarter of the fiscal year ending June 30, 2026 (the “third quarter of FY 2026”, which refers to the quarter from January 1, 2026 to March 31, 2026).

BEIJING, May 27, 2026 (GLOBE NEWSWIRE) -- Here Group Limited (NASDAQ: HERE) (“Here” or the “Company”), an IP-based pop toy company dedicated to creating beloved collectibles and trend-defining experiences, today announced that it plans to release its unaudited financial results for the quarter ended March 31, 2026, before the U.S. market opens on Friday, June 5, 2026. The Company's management will hold an earnings conference call at 07:00 A.M.

Here Group is reiterated as a 'Buy' with a price target of $6.20, reflecting upside from new IP launches like Xiao Ao. Xiao Ao, leveraging celebrity Wang Yibo's influence, is expected to materially outperform SIINONO and drive significant revenue growth into FY 2027. Wall St. targets $7.80 per share (~120% upside), but I remain less aggressive due to Wakuku concentration risk and execution uncertainties.

Here Group remains a Buy at current depressed multiples, despite market impatience over margin compression and slower near-term growth. Gross margin slipped ~1,000 bps and HERE's Q3 FY26 guidance implies a 15% revenue drop, raising concerns about growth quality and operational leverage. Wakuku drives ~73% of sales; its brand-building, content pipeline, and the Enlight Media joint venture are critical forward catalysts.

I rate Here Group Limited as a 'Hold,' after evaluating its 2Q FY2026 numbers. The firm posted a solid 39% QoQ revenue growth in the recent quarter, as its key "Wakuku" IP performed well. But the company's gross margin fell 10 ppts QoQ to 31%, and further physical retail expansion may be a drag on profitability.

Here Group Limited (HERE) Q2 2026 Earnings Call Transcript

BEIJING, March 04, 2026 (GLOBE NEWSWIRE) -- Here Group Limited (NASDAQ: HERE) (“Here” or the “Company”), an IP-based pop toy company dedicated to creating beloved collectibles and trend-defining experiences, today announced that it plans to release its unaudited financial results for the quarter ended December 31, 2025, before the U.S. market opens on Thursday, March 12, 2026.