TOUR Tuniu Corp

Price Chart

Executive Summary

Tuniu reported Q1 2026 results with net revenues of $19.2M (+12.8% YoY), turning from a net loss of $0.8M to a net income of $33K on a GAAP basis. Non-GAAP net income was $0.3M, the fifth consecutive quarter of non-GAAP profitability. Guidance for Q2 2026 implies 0-5% YoY revenue growth, signaling a sharp deceleration. The company has repurchased ~$4.9M of ADSs under its $10M buyback program and executed a 1:30 reverse ADS split effective April 22, 2026.

Actionable Insight

Key Facts

• Q1 2026 net revenues of RMB132.6M (US$19.2M), +12.8% YoY
• GAAP net income of RMB0.2M (US$33K) vs. a net loss of RMB5.4M in Q1 2025
• Non-GAAP net income of RMB2.2M (US$0.3M), fifth consecutive non-GAAP profitable quarter
• Q2 2026 revenue guidance of RMB134.9M to RMB141.6M, implying 0-5% YoY growth
• Cost of revenues grew 22.6% YoY, outpacing revenue growth, gross margin compressed from 59% to 55.5%
• Cash and equivalents, restricted cash, short-term investments and long-term deposits of RMB1.0B (US$147.7M)
• Completed a 1:30 reverse ADS split effective April 22, 2026
• Repurchased ~0.6M ADSs (post-split basis) for ~$4.9M under a $10M buyback program as of May 31, 2026

Financial Impact

Revenue grew 12.8% YoY to $19.2M; net income turned positive to $33K GAAP, but guidance decelerates sharply to 0-5% YoY growth in Q2

Risk Factors

• Sharp deceleration in Q2 revenue guidance (0-5% YoY) suggests fading demand or operational headwinds
• Cost of revenues growing faster than revenue (+22.6% vs +12.8%) compresses gross margin
• Loss from operations continued at -RMB3.7M, indicating core business is still unprofitable on a GAAP basis

Market Snapshot

Documents Analyzed

This report is based on 5 SEC documents filed with EDGAR.

US Market Status