Autohome Inc. Announces Unaudited First Quarter 2026 Financial Results

BEIJING, May 28, 2026 /PRNewswire/ -- Autohome Inc. (NYSE: ATHM; HKEX: 2518) ("Autohome" or the "Company"), the leading online destination for automobile consumers in China, today announced its unaudited financial results for the three months ended March 31, 2026.

First Quarter 2026 Highlights [1]

[1] The reporting currency of the Company is Renminbi ("RMB"). For readers' convenience, certain amounts throughout the release are presented in US dollars ("US$"). Unless otherwise noted, all conversions from RMB to US$ are translated at the noon buying rate of US$1.00 to RMB6.8980 on March 31, 2026, in the City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate.

[2] For more information on this and other non-GAAP financial measures, please see the section captioned "Use of Non-GAAP Financial Measures" and the tables captioned "Unaudited Reconciliations of Non-GAAP and GAAP Results" set forth at the end of this release.

Mr. Chi Liu, Chairman of the Board of Directors and Chief Executive Officer of Autohome, stated, "We began the year by rolling out a series of initiatives to accelerate the transformation of our platform from an automotive information media into a comprehensive automotive service ecosystem. On the user front, we have initiated a major brand refresh and upgraded Autohome's App, shifting our focus towards users' interests and the end-to-end car-purchase journey to more precisely address consumer demand. At the same time, by strengthening the development of premium content and expanding our new media matrix, we continued to grow our user base steadily. According to QuestMobile, the average number of our mobile daily active users in March 2026 reached a record high of over 80 million, up 4.9% year-over-year. With regard to our transaction platform development, our new retail business launched an 'online-car-purchase' feature in two cities, piloting collaborative initiatives with dealerships to explore new e-commerce experiences for car purchases. We also continued to advance our global expansion. YesAuto, our overseas platform, officially launched operations in Thailand. Our global used car export platform also went live and received positive feedback from the market. Together, these advancements mark the beginning of a new development phase for Autohome, characterized by a dual-circulation model encompassing both domestic and international markets."

Mr. Craig Yan Zeng, Chief Financial Officer of Autohome, added, "While advancing our business initiatives, we have consistently maintained a healthy balance sheet and continued to deliver on our commitment to providing stable shareholder returns. Our board of directors has approved the cash dividend plan for the first half of 2026, at the same time we have been actively executing share repurchases in the open market, with the total cumulative repurchases exceeding US$62 million as of last week. Looking ahead, we will continue to focus on areas of emerging growth while maintaining stringent cost controls to create long-term value for our shareholders."

Unaudited First Quarter 2026 Financial Results

Net Revenues

Net revenues in the first quarter of 2026 were RMB1,048.4 million (US$152.0 million), compared to RMB1,453.8 million in the corresponding period of 2025. The decline was primarily driven by reduced advertising spending from automakers amid shrinking sales volumes, along with a decrease in the number of paying dealers — both of which adversely affected the Company's related business lines.

Cost of Revenues

Cost of revenues was RMB257.0 million (US$37.3 million) in the first quarter of 2026, compared to RMB315.5 million in the corresponding period of 2025. Share-based compensation expense included in cost of revenues in the first quarter of 2026 was RMB1.0 million (US$0.1 million), compared to RMB2.4 million in the corresponding period of 2025.

Operating Expenses

Operating expenses were RMB900.1 million (US$130.5 million) in the first quarter of 2026, compared to RMB948.8 million in the corresponding period of 2025.

Operating Loss/Profit

Operating loss was RMB34.4 million (US$5.0 million) in the first quarter of 2026, compared to operating profit of RMB233.4 million in the corresponding period of 2025.

Income Tax Expense

Income tax expense was RMB25.2 million (US$3.7 million) in the first quarter of 2026, compared to income tax expense of RMB56.3 million in the corresponding period of 2025.

Net Income Attributable to Autohome

Net income attributable to Autohome was RMB44.3 million (US$6.4 million) in the first quarter of 2026, compared to RMB356.6 million in the corresponding period of 2025.

Net Income Attributable to Ordinary Shareholders and Earnings per Share/ADS

Net income attributable to ordinary shareholders was RMB44.3 million (US$6.4 million) in the first quarter of 2026, compared to RMB340.5 million in the corresponding period of 2025. Basic and diluted earnings per share ("EPS") were RMB0.10 (US$0.01) and RMB0.10 (US$0.01), respectively, in the first quarter of 2026, compared to basic and diluted EPS of RMB0.72 and RMB0.71, respectively, in the corresponding period of 2025. Basic and diluted earnings per ADS were RMB0.38 (US$0.06) and RMB0.38 (US$0.06), respectively, in the first quarter of 2026, compared to basic and diluted earnings per ADS of RMB2.86 and RMB2.85, respectively, in the corresponding period of 2025.

Adjusted Net Income Attributable to Autohome (Non-GAAP) and Non-GAAP EPS/ADS

Adjusted net income attributable to Autohome (Non-GAAP) was RMB179.2 million (US$26.0 million) in the first quarter of 2026, compared to RMB420.8 million in the corresponding period of 2025. Non-GAAP basic and diluted EPS were RMB0.39 (US$0.06) and RMB0.39 (US$0.06), respectively, in the first quarter of 2026, compared to non-GAAP basic and diluted EPS of RMB0.88 and RMB0.88, respectively, in the corresponding period of 2025. Non-GAAP basic and diluted earnings per ADS were RMB1.55 (US$0.22) and RMB1.54 (US$0.22), respectively, in the first quarter of 2026, compared to non-GAAP basic and diluted earnings per ADS of RMB3.54 and RMB3.52, respectively, in the corresponding period of 2025.

Balance Sheet and Cash Flow

As of March 31, 2026, the Company had cash and cash equivalents, short-term investments and other long-term investments of RMB20.04 billion (US$2.91 billion). Net cash used in operating activities in the first quarter of 2026 was RMB143.0 million (US$20.7 million).

Employees

The Company had 3,876 employees as of March 31, 2026, including 1,219 employees from TTP Car, Inc.

Conference Call Information

The Company will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on Thursday, May 28, 2026 (8:00 p.m. Beijing Time on the same day).

Please register in advance of the conference call using the registration link provided below. Upon registering, each participant will receive a set of dial-in numbers and a personal PIN, which will be used to join the conference call.

Registration Link:

https://register-conf.media-server.com/register/BI729eaeb6b356412fadcc85dd017f499e

Please use the conference access information to join the call 10 minutes before the call is scheduled to begin.

Additionally, a live and archived webcast of the conference call will be available at https://ir.autohome.com.cn and a replay of the webcast will be available following the session.

About Autohome

Autohome Inc. (NYSE: ATHM; HKEX: 2518) is the leading online destination for automobile consumers in China. Its mission is to relentlessly reduce auto industry decision-making and transaction costs driven by advanced technology. Autohome provides occupationally generated content, professionally generated content, user-generated content, and AI-generated content, a comprehensive automobile library, and extensive automobile listing information to automobile consumers, covering the entire car purchase and ownership cycle. The ability to reach a large and engaged user base of automobile consumers has made Autohome a preferred platform for automakers and dealers to conduct their advertising campaigns. Further, the Company's dealer subscription and advertising services allow dealers to market their inventory and services through Autohome's platform, extending the reach of their physical showrooms to potentially millions of internet users in China and generating sales leads for them. The Company offers sales leads, data analysis, and marketing services to assist automakers and dealers with improving their efficiency and facilitating transactions. Further, through its websites and mobile applications, it also provides other value-added services, including auto financing, auto insurance, used car transactions, and aftermarket services. For further information, please visit https://www.autohome.com.cn/.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar statements. Among other things, Autohome's business outlook, Autohome's strategic and operational plans and quotations from management in this announcement contain forward-looking statements. Autohome may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission ("SEC"), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Autohome's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Autohome's goals and strategies; Autohome's future business development, results of operations and financial condition; the expected growth of the online automobile advertising market in China; Autohome's ability to attract and retain users and advertisers and further enhance its brand recognition; Autohome's expectations regarding demand for and market acceptance of its products and services; competition in the online automobile advertising industry; relevant government policies and regulatory environment of China; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Autohome's filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Autohome does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Use of Non-GAAP Financial Measures

To supplement net income presented in accordance with U.S. GAAP, we use Adjusted Net Income attributable to Autohome, Non-GAAP basic and diluted EPS and earnings per ADS, Adjusted net margin and Adjusted EBITDA as non-GAAP financial measures. We define Adjusted Net Income attributable to Autohome as net income attributable to Autohome excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisition, share of results of equity method investments, and non-recurring employee severance costs, with all the reconciliation items adjusted for related income tax effects. We define non-GAAP basic and diluted EPS as Adjusted Net Income attributable to Autohome divided by the basic and diluted weighted average number of ordinary shares. We define non-GAAP basic and diluted earnings per ADS as Adjusted Net Income attributable to Autohome divided by the basic and diluted weighted average number of ADSs. We define Adjusted net margin as Adjusted Net Income attributable to Autohome divided by total net revenues. We define Adjusted EBITDA as net income attributable to Autohome before income tax expense, depreciation expenses of property and equipment, amortization expenses of intangible assets and share-based compensation expenses. We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance, in addition to net income prepared in accordance with U.S. GAAP. We believe these non-GAAP financial measures are important to help investors understand our operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess our core operating results, as they exclude certain non-cash charges or items that are non-operating in nature. The use of the above non-GAAP financial measures has certain limitations as they excluded certain items that have been and will continue to be incurred in the future, but such items should be considered in the overall evaluation of our results. These non-GAAP financial measures should be considered in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Unaudited Reconciliation of non-GAAP and GAAP Results" set fourth at the end of this press release.

For investor and media inquiries, please contact:

Autohome Inc.

Sterling Song

Investor Relations Director

Tel: +86-10-5985-7483

E-mail: [email protected]

Christensen China Limited

Suri Cheng

Tel: +86-185-0060-8364

E-mail: [email protected]

AUTOHOME INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS DATA

(Amount in thousands, except share and per share / per ADS data

For three months ended March 31,

2025

2026

RMB

US$

Net revenues:

Media services

242,179

162,683

23,584

Leads generation services

645,143

503,455

72,986

Online marketplace and others

566,496

382,301

55,422

Total net revenues

1,453,818

1,048,439

151,992

Cost of revenues

(315,520)

(257,028)

(37,261)

Gross profit

1,138,298

791,411

114,731

Operating expenses:

Sales and marketing expenses

(543,639)

(506,349)

(73,405)

General and administrative expenses

(131,023)

(119,859)

(17,376)

Product development expenses

(274,141)

(273,860)

(39,701)

Total operating expenses

(948,803)

(900,068)

(130,482)

Other operating income, net

43,860

74,250

10,764

Operating profit/(loss)

233,355

(34,407)

(4,987)

Interest and investment income, net

177,071

142,137

20,606

Share of results of equity method investments

(11,636)

(55,548)

(8,053)

Income before income taxes

398,790

52,182

7,566

Income tax expense

(56,329)

(25,219)

(3,656)

Net income

342,461

26,963

3,910

Net loss attributable to noncontrolling interests

14,174

17,288

2,506

Net income attributable to Autohome

356,635

44,251

6,416

Accretion of mezzanine equity

(45,654)

(49,433)

(7,166)

Accretion attributable to noncontrolling interests

29,469

49,433

7,166

Net income attributable to ordinary shareholders

340,450

44,251

6,416

Earnings per share attributable to ordinary

shareholders

Basic

0.72

0.10

0.01

Diluted

0.71

0.10

0.01

Earnings per ADS attributable to ordinary shareholders

(one ADS equals for four ordinary shares)

Basic

2.86

0.38

0.06

Diluted

2.85

0.38

0.06

Weighted average shares used to compute earnings per share attributable to

ordinary shareholders:

Basic

475,483,227

462,976,351

Diluted

478,030,619

464,566,955

AUTOHOME INC.

UNAUDITED RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS

(Amount in thousands, except per share / per ADS data)

For three months ended March 31,

2025

2026

RMB

US$

Net income attributable to Autohome

356,635

44,251

6,416

Plus: income tax expense

57,669

25,556

3,705

Plus: depreciation of property and equipment

27,370

27,800

4,030

Plus: amortization of intangible assets

9,621

444

EBITDA

451,295

98,051

14,215

Plus: share-based compensation

expenses

45,490

36,029

5,223

Adjusted EBITDA

496,785

134,080

19,438

Net income attributable to Autohome

356,635

44,251

6,416

Plus: amortization of intangible assets resulting from business

acquisition

9,583

432

Plus: share-based compensation expenses

45,490

36,029

5,223

Plus: share of results of equity method investments

11,636

55,548

8,053

Plus: Non-recurring employee severance costs

61,794

8,958

Plus: tax effects of the adjustments

(2,574)

(18,841)

(2,731)

Adjusted net income attributable to Autohome

420,770

179,213

25,982

Net income attributable to Autohome

356,635

44,251

6,416

Net margin

24.5 %

4.2 %

Adjusted net income attributable to Autohome

420,770

179,213

25,982

Adjusted net margin

28.9 %

17.1 %

Non-GAAP earnings per share

Basic

0.88

0.39

0.06

Diluted

0.88

0.39

0.06

Non-GAAP earnings per ADS (one ADS equals for four

ordinary shares)

Basic

3.54

1.55

0.22

Diluted

3.52

1.54

0.22

Weighted average shares used to compute non-GAAP

earnings per share:

Basic

475,483,227

462,976,351

Diluted

478,030,619

464,566,955

AUTOHOME INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET

(Amount in thousands, except as noted)

As of

December 31,

As of March 31,

2025

2026

RMB

US$

ASSETS

Current assets

Cash and cash equivalents

2,175,493

1,381,652

200,297

Restricted cash

74,424

85,142

12,343

Short-term investments

17,063,633

17,027,839

2,468,518

Accounts receivable, net

1,521,347

1,683,025

243,987

Amounts due from related parties, current

43,599

34,621

5,019

Prepaid expenses and other current assets

308,733

320,723

46,495

Total current assets

21,187,229

20,533,002

2,976,659

Non-current assets

Restricted cash, non-current

5,000

725

Property and equipment, net

191,063

205,342

29,768

Goodwill and intangible assets, net

3,995,489

3,992,803

578,835

Long-term equity investments

442,017

386,469

56,026

Other long-term investments

2,124,783

1,634,544

236,959

Deferred tax assets

262,622

270,872

39,268

Amounts due from related parties, non-current

9,709

1,408

Other non-current assets

90,612

149,197

21,629

Total non-current assets

7,121,295

6,653,936

964,618

Total assets

28,308,524

27,186,938

3,941,277

LIABILITIES AND EQUITY

Current liabilities

Accrued expenses and other payables

2,192,496

1,802,383

261,288

Advance from customers

98,083

111,235

16,126

Deferred revenue

170,836

490,950

71,173

Income tax payable

82,000

108,647

15,751

Amounts due to related parties

13,739

5,033

730

Dividends payable

976,382

Total current liabilities

3,533,536

2,518,248

365,068

Non-current liabilities

Other liabilities

21,544

56,602

8,206

Deferred tax liabilities

458,266

457,624

66,342

Total non-current liabilities

479,810

514,226

74,548

Total liabilities

4,013,346

3,032,474

439,616

MEZZANINE EQUITY

Convertible redeemable noncontrolling interests

2,121,191

2,170,624

314,674

EQUITY

Total Autohome shareholders' equity

23,041,328

22,917,938

3,322,403

Noncontrolling interests

(867,341)

(934,098)

(135,416)

Total equity

22,173,987

21,983,840

3,186,987

Total liabilities, mezzanine equity and equity

28,308,524

27,186,938

3,941,277

SOURCE Autohome Inc.