RLX Technology Q3 2024 Revenue Up 20.6% to $104M Net Profit $35.62M

Nov.15.2024
RLX Technology Q3 2024 Revenue Up 20.6% to $104M Net Profit $35.62M
RLX Technology reported Q3 2024 net revenue of $104 million, a 20.6% quarter-over-quarter increase, and net profit of $35.62 million. The company attributed the growth primarily to its international expansion.

On November 15th, RELX Technology (RLX Technology Inc.) (NYSE: RLX) released its unaudited financial report for the third quarter of 2024.

 

According to the financial report, the net revenue for the third quarter of 2024 was $104.12 million, marking a 20.6% increase quarter-over-quarter and a 51.6% increase year-over-year.  

 

Under non-US GAAP, the adjusted net profit for the third quarter was $35.62 million, up 22.9% from the previous quarter and 30.0% year-over-year.  

 

The financial highlights for the third quarter of 2024 are as follows:  

 

  • Net Revenue: $104.12 million, a 20.6% increase quarter-over-quarter and a 51.6% increase year-over-year, driven primarily by the company's international expansion.  
  • Gross Profit: $28.77 million.  
  • Adjusted Net Profit: $35.62 million under non-US Generally Accepted Accounting Principles.  
  • Cash and Investments: As of September 30, 2024, RLX Technology held $2.10 billion in total cash, cash equivalents, restricted cash, short-term bank deposits, short-term investments, long-term bank deposits, and long-term investment securities.  

 

RELX Technology founder, chairman, and CEO Wang Ying said: "The company delivered strong performance once again in the third quarter, showcasing its ability to thrive amid rapidly evolving market trends and regulatory changes."  

 

"Our efficient and adaptable localization strategy has positioned us as market leaders in several countries. By working closely with local distributors and retailers, we have achieved a high level of product-market alignment."  

 

"Built on a foundation of high-quality and reliable pod products, we now offer a broader portfolio, including a diverse range of disposable and open-system products. These innovations have earned the trust of adult smokers worldwide."  

 

"As a trusted e-cigarette brand for adult smokers, we remain dedicated to developing innovative, high-quality products that align with market trends and comply with regulatory standards. Our goal is to meet the needs of global users while driving sustainable long-term growth for the company. "

 

RELX Technology's CFO, Lu Chao, said: "The company's net income in the third quarter increased by 51.6% year-over-year, reaching $104 million. This reflects the success of our internationalization strategy."

 

"Thanks to changes in our revenue structure and cost optimization measures, our gross profit margin improved by 3.2 percentage points compared to the same period last year, reaching 27.2%."

 

"Despite rapid revenue growth, we have maintained stable operating expenses under US GAAP, demonstrating strong operational leverage." 

 

"We are also pleased to return value to shareholders by distributing the second cash dividend since our IPO and continuing our stock repurchase plan." 

 

"We will actively pursue development opportunities to achieve sustainable profit growth and deliver higher returns to shareholders." 

 

JTI Liggett Puts U.S. Value Cigarette Brands in Spotlight at 2026 NACS Show
JTI Liggett Puts U.S. Value Cigarette Brands in Spotlight at 2026 NACS Show
At the 2026 NACS Show in Las Vegas, JTI Liggett highlighted its value-priced cigarette portfolio, including LD and Montego, following JT Group's acquisition of Vector Group. The company's U.S. business reported market share gains, with LD sales volume rising 32.6% in the first half of 2026. Meanwhile, Ploom was displayed separately at Altria's booth under an existing partnership. JTI Liggett booth staff told 2Firsts that the company had not yet launched nicotine pouch products in the United States.
EXPO
Oct.09
UK-Listed Consumer Goods Group Supreme Sees Vape Duty as Potential Consolidation Opportunity, Holds FY27 Outlook
UK-Listed Consumer Goods Group Supreme Sees Vape Duty as Potential Consolidation Opportunity, Holds FY27 Outlook
UK-listed consumer goods group Supreme plc says it continues to expect FY27 trading to meet market expectations as the Vaping Products Duty takes effect on October 1, while maintaining a comparatively positive view of the new tax and compliance regime. Supreme has said the framework could increase compliance complexity for smaller operators and contribute to market consolidation, while its manufacturing, compliance and distribution scale may allow it to gain share. Its 88Vape brand will retain its value positioning.
Sep.18
FDA Unifies Tobacco Registration and Product Listing Form Across Product Categories
FDA Unifies Tobacco Registration and Product Listing Form Across Product Categories
The U.S. FDA has consolidated two tobacco establishment registration and product listing forms into a redesigned Form FDA 3741 covering all regulated product categories, including e-cigarettes, heated tobacco products and nicotine pouches. The current requirements remain limited to domestic establishments. Separately, the FDA has proposed extending registration and product listing requirements to foreign manufacturers, signaling greater regulatory attention to manufacturing entities and product-level information across the tobacco and nicotine supply chain.
FDA
Sep.30
GSTHR Estimates 200 Million People Use Non-Combustible Nicotine Products as 28 Countries Show Rising Use Alongside Falling Smoking Rates
GSTHR Estimates 200 Million People Use Non-Combustible Nicotine Products as 28 Countries Show Rising Use Alongside Falling Smoking Rates
The Global State of Tobacco Harm Reduction, a project operated by Knowledge·Action·Change, estimates that about 200 million people worldwide use non-combustible nicotine products including vapes, heated tobacco, nicotine pouches and snus. Its 2026 report says use of these products rose alongside declining smoking rates in 28 countries it analyzed. The data do not establish that all 200 million users have quit smoking, nor do they prove a direct causal relationship. GSTHR also says regulatory restrictions on the products continue to expand in many markets.
Sep.10
Ispire Q4 Revenue Rebounds 33% but Full-Year Sales Still Fall 25% as FY2027 Focus Shifts to Malaysia Manufacturing, ODM, Nicotine Pouches and Age Verification
Ispire Q4 Revenue Rebounds 33% but Full-Year Sales Still Fall 25% as FY2027 Focus Shifts to Malaysia Manufacturing, ODM, Nicotine Pouches and Age Verification
Ispire Technology reported FY2026 revenue of about $96 million, down 24.7% year over year, as U.S. cannabis-vapor hardware and European e-cigarette sales declined by $17.4 million and $12.7 million, respectively. Fourth-quarter revenue rose 32.5% to $26.7 million, while quarterly gross margin fell to 6.3%. For FY2027, the company is prioritizing Malaysia manufacturing and vapor ODM while continuing to develop nicotine pouches, IKE Tech age-verification technology and G-Mesh licensing. Ispire has not separately disclosed the revenue or profit contribution of those newer businesses.
Regulations
Sep.17 by 2Firsts Perspectives
JAMA Study: U.S. Vape Directories Fail to Sustainably Curb Unlisted Sales as Product Shifts May Redistribute Brand Share 2Firsts Recommended
JAMA Study: U.S. Vape Directories Fail to Sustainably Curb Unlisted Sales as Product Shifts May Redistribute Brand Share 2Firsts Recommended
A study by CDC Foundation researchers found no sustained decline in e-cigarette sales across Alabama, Oklahoma and Louisiana, the first three U.S. states to implement e-cigarette directory laws. Louisiana initially saw a significant sales decline, followed by a rebound and a persistent reduction in product availability. Sales also shifted from nontobacco-flavored disposables toward prefilled cartridges, with Vuse Alto driving much of the increase in menthol cartridges. By April 2025, unlisted products still accounted for more than half of e-cigarette nicotine sales in all three states.
Sep.18