iHuman Inc. (NYSE: IH) reported unaudited fourth‑quarter and full‑year 2025 results on March 31 2026. Fourth‑quarter revenue fell 18.5% YoY to RMB190.7 million (US$27.3 million) and net income dropped 42% to RMB15.4 million (US$2.2 million). Diluted earnings per share for the quarter were $0.04, down from $0.07 a year earlier.
For the full year, iHuman generated revenue of RMB807.0 million (US$115.4 million), a 12.5% decline from RMB922.2 million in 2024. Net income for 2025 was RMB95.4 million (US$13.6 million). Diluted earnings per share were $0.25 per ADS, compared with $0.25 per ADS in 2024. Gross margin contracted to 67.9% from 69.4% in the prior year, while operating expenses fell 15.4% to RMB118.5 million in Q4 and 15.4% for the year.
Revenue erosion is largely driven by China’s declining newborn population and more cautious consumer spending, which have weighed on iHuman’s core user base. The company also experienced a mix shift toward lower‑margin physical products, contributing to the modest gross‑margin compression.
Despite the revenue decline, iHuman maintained cost discipline, reducing operating expenses by 16.3% in Q4 and 15.4% for the year. The company’s strong cash position—RMB1,151.1 million in cash, cash equivalents, and short‑term investments—has enabled it to continue paying a special cash dividend of US$0.02 per ordinary share (US$0.10 per ADS), totaling approximately US$5.1 million.
Management highlighted the company’s resilience amid a complex environment. Dr. Peng Dai said, "During the fourth quarter, we effectively executed our key strategic initiatives, maintaining operational resilience amid a complex environment." He added, "Looking ahead, we are encouraged by our resilient business performance and believe our differentiated, content‑driven portfolio positions us well to continue building our global presence and creating long‑term value." Ms. Vivien Weiwei Wang noted, "During the quarter, we made solid progress in our international expansion with our global offerings gaining broader market recognition."
iHuman’s average monthly active users (MAUs) declined, reflecting the demographic headwinds in China, but the company’s international expansion strategy is expected to offset domestic challenges over the long term. The firm’s continued dividend payments signal confidence in its cash flow generation and commitment to shareholder returns.
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