Adjusted EPS meets expectations. Autohome Inc (NYSE: ATHM) reported fourth quarter fiscal 2025 adjusted EPS of $0.09, matching consensus estimates. Revenue came in at $209.1 million. The company delivered GAAP diluted EPS of $0.07 for the quarter. Net income reached $33.4 million with an adjusted net income of $43.4 million. Gross profit totaled $163.5 million on a gross margin of 78.2%, up from 76% in the year-ago period.
Revenue declines sharply year-over-year. Fourth quarter revenue of $209.1 million represents a steep decline from the prior year. For the full year 2025, total revenues reached RMB 6.45 billion, with media services contributing RMB 1.15 billion, lead generation services RMB 2.71 billion, and online marketplace and others RMB 2.59 billion, representing an 8.8% increase year-over-year. CFO Craig Yan Zeng noted that NEV-related revenues, including the new retail business, “maintained steady growth, increasing by 30.2% year-over-year” for the full year. The company’s adjusted net margin for 2025 stood at 24.9%.
Zeng highlights AI-driven transformation. CFO Craig Yan Zeng emphasized the company’s strategic pivot during the call: “2025 was a pivotal year in our evaluation transforming from an automotive information platform to automotive service ecosystem”. He detailed AI integration across the platform: “In 2025, we introduced our proprietary Cangjie large language model and the Tianshu Intelligence Service Platform, integrating Autohome’s two decades of industry data and service experience with cutting-edge algorithms”. On the new Autohome Mall initiative launched in Q4, Zeng stated: “Currently, this business, though still in its initial phase, has achieved stable operations and is demonstrating positive momentum which make us even more confident in the growth prospects of our transaction segment in the coming year”. The platform has secured partnerships with 23 mainstream automotive brands and completed standardized inspections for more than 500,000 vehicles through its Vehicle Certification Alliance.
Analysts probe industry outlook and capital allocation. Thomas Chong of Jefferies asked about auto industry trends and dividend policy. Management responded that “the total vehicle sales in 2026 is expected to increase slightly or modestly with the overall industry profitability still remain under pressure,” noting that both CPCA and CAAM project only 1% year-over-year growth, “which is the lowest in the past few years”. On capital returns, Management confirmed the company “firmly remain committed to distributing no less than RMB 1.5 billion in total in the cash dividend for the full year”. Ritchie Sun from HSBC questioned the impact of AI agents on the auto vertical. Management outlined a two-pronged response: building an Autohome AI agent to “deliver a complete one-stop personalized, concierge-style service across the entire auto life cycle” and establishing “an AI-based intelligent service network, which can connect the automakers, dealers, financial institutions and other stakeholders”. The company acknowledged dealer challenges, noting “over 70% of the dealers nationwide in China were in loss-making” and that total dealer count declined approximately 5% year-over-year.
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