Here Group Cuts FY26 Revenue Guidance by ~20% While Announcing New $20M Share Repurchase Program
Summary
Here Group significantly cut its full-year revenue guidance, signaling a challenging business environment, while simultaneously announcing a new $20 million share repurchase program.
Key Events
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Significant Revenue Guidance Cut
Full-year FY2026 revenue guidance was revised down from a range of RMB750.0-800.0 million to RMB600.0-610.0 million, representing an approximate 19-24% reduction.
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New Share Repurchase Program Approved
The Board approved a new program to repurchase up to US$20.0 million of ADSs, effective from July 1, 2026, to June 30, 2027.
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Q3 FY2026 Financial Results
Reported revenues of US$23.9 million and a net loss of US$4.9 million for the third quarter. Revenues declined and net loss increased sequentially compared to Q2 FY2026.
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Update on Existing Share Repurchase Program
As of June 1, 2026, US$12.8 million of ADSs had been repurchased under the 2025 Share Repurchase Program.
Analysis
Here Group significantly revised its full-year FY2026 revenue guidance downwards by approximately 19-24%, indicating a material deterioration in its business outlook. This negative news is partially offset by the announcement of a new $20 million share repurchase program, which is substantial relative to the company's size and could provide some stock support. The third-quarter results also showed a sequential decline in revenue and an increased net loss.
At the time of this filing, HERE was trading at $2.36 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $119.1M. The 52-week trading range was $2.03 to $15.64. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.