ATRenew delivered substantially faster operating-profit growth than revenue growth in the second quarter of 2026 as the pre-owned consumer electronics platform continued scaling its first-party business.
Total net revenue increased 32.4% year-over-year to $974.1 million, compared with the equivalent of approximately $735 million in the prior-year quarter.
Income from operations jumped 95.7% to $26.3 million, nearly twice its year-earlier level. Adjusted operating income increased 70.1% to $30.4 million.
The faster increase in operating income came as overall operating costs and expenses rose 31%, slightly below the rate of revenue growth.
Net income increased 78.6% to $19 million, while adjusted net income rose 57.3% to $23.1 million.
ATRenew’s product business remained the primary growth driver. Net product revenue increased 35.9% to $913 million, reflecting higher sales of pre-owned consumer electronics through the company’s online channels.
Service revenue moved in the opposite direction, declining 4.2% to $61.1 million. ATRenew attributed the decline primarily to discretionary service-fee discounts offered to merchants during the extended 618 promotional period.
The divergence reinforces the growing importance of ATRenew’s first-party model, under which the company acquires, processes and resells used consumer electronics rather than relying entirely on marketplace and service fees.
ATRenew has been investing in its recycling infrastructure, including its AHS stores and door-to-door fulfillment capabilities, while also optimizing sales channels for first-party products.
The company’s profitability growth suggests that increasing transaction scale is beginning to produce additional operating leverage even as it continues expanding its sourcing and fulfillment network.
KEY QUOTE:
“While exceeding the high end of our revenue guidance, ATRenew once again achieved rapid profit growth.”
Rex Chen, Chief Financial Officer of ATRenew
