- CLPMF: Clip Money Reports 143% Revenue Growth For 2025
Apr 14, 2026
By Lisa Thompson
OTC: CLPMF
READ THE FULL CLPMF RESEARCH REPORT
Clip Money (OTC: CLPMF) continued on its growth track as expected, increasing revenues in 2025 by 143% and ending the year with a positive gross margin of 8.2% and a revenue run rate of $7.2 million. Claire’s, now the company’s largest customer, was fully onboarded in October, so it did not contribute a full quarter of revenue in Q4. Despite Q4 being a quarter where retailers tend to not want to make any changes so close to Christmas, Clip Money signed and added Swarovski (260 stores in North America), Tumi (204 stores in the US), Spring Step (12 stores in US outlet malls), Earthbound (139 in the US), Kako Klaw (13 US locations), and Pop Mart (37 US stores) in addition to Claire’s (780 US stores). Clip Money had 4,438 customer locations at year’s end, up 77% from the end of 2024.
The company ended the year with 530 ClipDrops installed compared to 444 last year, adding a net 86 boxes. This makes a total of over 8,100 locations, including Green Dot and ATMs at which customers can use Clip Money services.
Going forward, we expect gross margins to continue to improve despite being flat from Q3 to Q4 in 2025. We expect the gross margin in Q1 to be in the teens. Clip Money ended the year generating about $600,000 a month in recurring revenue as expected. At that rate, it should be able to easily double revenue next year. With expanding margins and increased revenue, Clip Money is still on track to reach operating breakeven by the end of 2026.
Given we expect the company to possibly double revenues next year, we believe it deserves the higher end of the range. At only 3.0 times EV/2027 sales, the stock would be $0.30 per share.
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- CLPMF: Clip Money Reports 143% Revenue Growth For 2025
Apr 14, 2026
By Lisa Thompson
OTC: CLPMF
READ THE FULL CLPMF RESEARCH REPORT
Clip Money (OTC: CLPMF) continued on its growth track as expected, increasing revenues in 2025 by 143% and ending the year with a positive gross margin of 8.2% and a revenue run rate of $7.2 million. Claire’s, now the company’s largest customer, was fully onboarded in October, so it did not contribute a full quarter of revenue in Q4. Despite Q4 being a quarter where retailers tend to not want to make any changes so close to Christmas, Clip Money signed and added Swarovski (260 stores in North America), Tumi (204 stores in the US), Spring Step (12 stores in US outlet malls), Earthbound (139 in the US), Kako Klaw (13 US locations), and Pop Mart (37 US stores) in addition to Claire’s (780 US stores). Clip Money had 4,438 customer locations at year’s end, up 77% from the end of 2024.
The company ended the year with 530 ClipDrops installed compared to 444 last year, adding a net 86 boxes. This makes a total of over 8,100 locations, including Green Dot and ATMs at which customers can use Clip Money services.
Going forward, we expect gross margins to continue to improve despite being flat from Q3 to Q4 in 2025. Due to the pricing structure, the company generates less revenue per customer deposit at higher dollar deposit amounts, such as during the Christmas surge. When deposit sizes return to normal in Q1, Q2, and Q3, gross margins should continue to improve. We expect the gross margin in Q1 to be in the teens. Clip Money ended the year generating about $600,000 a month in recurring revenue as expected. At that rate, it should be able to easily double revenue next year. With expanding margins and increased revenue, Clip Money is still on track to reach operating breakeven by the end of 2026.
Given we expect the company to possibly double revenues next year, we believe it deserves the higher end of the range. At only 3.0 times EV/2027 sales, the stock would be $0.30 per share.
SUBSCRIBE TO ZACKS SMALL CAP RESEARCH to receive our articles and reports emailed directly to you each morning. Please visit our website for additional information on Zacks SCR.
DISCLOSURE: Zacks SCR has received compensation from the issuer directly, from an investment manager, or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks SCR provides and Zacks SCR receives payments totaling a maximum fee of up to $50,000 annually for these services provided to or regarding the issuer. Full Disclaimer HERE.
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- Pop Mart Suffers $33 Billion Rout as Labubu Craze Unravels
Apr 2, 2026
(Bloomberg) -- A relentless selloff in Pop Mart International Group Ltd. shares is showing little sign of bottoming out as skepticism deepens over the toymaker’s Labubu-led growth.
The stock plunged more than 30% over five sessions through Tuesday after the company’s earnings results showed a rising dependence on the snaggle-toothed monster dolls. That extended a drop from its record high in August to nearly 60%, wiping out about $33 billion from its market cap.
Pop Mart’s latest earnings tipped market sentiment decisively bearish. A wave of price‑target cuts, rising short interest, and a stock slide that persisted despite multiple buybacks signal growing concerns over the company’s ability to replicate Labubu’s success with other products.
“We don’t think the market has fully factored in a long downcycle scenario with a much lower margin,” said Sammi Xu, a consumer analyst at Deutsche Bank AG, who downgraded the stock to sell after its results. Weakening sales overseas and in China, high inventory and a continuous downward revision on earnings are main pressure points this year, Xu said.
The popularity of Labubu dolls exploded globally last year — a rare example of Chinese soft power resonating in Western markets — sending Pop Mart shares soaring about 300% from early 2025 to an all-time high in August. But persistent worries that the Labubu craze could fade has weighed on the stock since.
Efforts to diversify its intellectual property have yet to emerge as meaningful growth drivers. The Labubu-led Monsters series accounted for about 40% of total revenue last year, up from 23% in 2024. Meanwhile, other high-profile figures including Crybaby and Molly posted weaker-than-expected sales.
Pop Mart’s inventory turnover days has also increased 21% from a year ago to 123 days as of end 2025. The company attributed the rise to longer transportation lead time, higher sales to markets abroad and a wider network of stores.
READ: Pop Mart’s Labubu Risks Beanie Baby-Style Bust, Analyst Says
Even cheaper valuations and stock buybacks are not enough to lure investors. Pop Mart has purchased around HK$1.3 billion ($166 million) worth of shares since a record daily drop of 23% on March 25. The stock now trades at a record low level of 10.3 times forward earnings, compared with its three-year average of 24 times.
“The current share price isn’t expensive, but that can be said of many Chinese consumer stocks trading at similar valuations,” said Angus Lee, a fund manager at Sparx Group Co. “What has set Pop Mart apart is the narrative, whether it’s Labubu or the next hit IP and their ability to succeed globally, but right now, that story feels uncertain.”
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To win back investors, Pop Mart needs to demonstrate it can sustain the popularity of its signature IPs from Labubu to Molly, while showcasing its ability to introduce the next blockbuster character, he said. Lee, who started accumulating Pop Mart shares early last year, exited all his positions after the company announced its results.
A Pop Mart spokesperson declined to comment.
The company has accelerated the launch of other emerging characters such as Skullpanda and Twinkle Twinkle, unveiling new collections and crossover series that blend various IPs. At the same time, it’s working on a broader push to extend Labubu’s global appeal from collaborations with Sanrio Co. and FIFA World Cup to a planned animated film in partnership with Sony Pictures Entertainment Inc.
Pop Mart shares fell 2.4% on Thursday after closing 1.2% higher on Wednesday.
For now, short sellers have added to their positions in the stock with 123 million shares borrowed and sold short, up 16% from before the results, according to S3 Partners data. Options traders also loaded up bearish contracts, pushing put volume on Pop Mart to a record high on Wednesday.
“The market underestimates the challenges ahead,” said Melinda Hu, a consumer analyst at Bernstein, who was for months the lone sell-side bear on the stock. “Signs of slower growth, margin normalization, or IP fatigue could drive meaningful multiple compression and consensus forecasts are likely to be revised downward.”
(Updates with Thursday’s closing prices in third last paragraph)
More stories like this are available on bloomberg.com
©2026 Bloomberg L.P.
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- Pop Mart Weighs Governance Upgrades As Volatile Shares Trade Below Targets
Mar 31, 2026
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Pop Mart International Group (SEHK:9992) has proposed amendments to its articles of association to align with updated shareholder protection standards. The company plans to introduce provisions that would allow virtual and hybrid general meetings, aiming to broaden shareholder participation. The proposed changes are subject to shareholder approval at an upcoming general meeting.
Pop Mart International Group, trading at HK$143.6, is putting corporate governance in the spotlight with these proposed article changes. The move comes after a period of sharp share price volatility, including a 33.9% decline over the past week and a 37.5% decline over the past month. Despite these recent moves, the company shows a very large 3 year return and a 128.5% return over 5 years, which many investors will weigh against the latest governance developments.
For shareholders, the focus now is what these amendments could mean for voting power, meeting access, and overall oversight. Virtual meeting provisions can make it easier to attend and vote, especially for international or smaller holders, while updated protection standards may influence how future corporate decisions are reviewed and approved.
Stay updated on the most important news stories for Pop Mart International Group by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Pop Mart International Group.SEHK:9992 1-Year Stock Price Chart
Is Pop Mart International Group's balance sheet strong enough for future acquisitions? Dive into our detailed financial health analysis.
Quick Assessment
✅ Price vs Analyst Target: At HK$143.6, the share price sits about 45% below the HK$260 analyst target. ✅ Simply Wall St Valuation: Shares are described as trading 62.1% below estimated fair value. ❌ Recent Momentum: The 30 day return of roughly 37.5% decline highlights short term weakness.
There is only one way to know the right time to buy, sell or hold Pop Mart International Group. Head to Simply Wall St's company report for the latest analysis of Pop Mart International Group's Fair Value.
Key Considerations
📊 The proposed governance changes and virtual meeting options could make it easier for you to exercise voting rights and monitor management decisions. 📊 Keep an eye on how shareholders respond at the general meeting, along with any shifts in the discount to fair value or to the HK$260 analyst target. ⚠️ The identified risk is a volatile share price over the past 3 months, so position sizing and entry timing matter around this governance vote.
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Dig Deeper
For the full picture including more risks and rewards, check out the complete Pop Mart International Group analysis. Alternatively, you can check out the community page for Pop Mart International Group to see how other investors believe this latest news will impact the company's narrative.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include 9992.HK.
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- European Indexes Largely Down in Early Trade as Sentiment Waivers
Mar 27, 2026
European equities mostly fell in nervous early exchanges as traders weighed headlines around the war in the Middle East.
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- Boost for Pop Mart’s Shares From Buyback Likely Limited
Mar 27, 2026
The incremental boost to Pop Mart’s stock price from its proposed buyback was likely to be limited, said Morningstar.
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- Pop Mart Slides 9.7% as Analysts Cut Forecasts After Growth Miss
Mar 26, 2026
This article first appeared on GuruFocus.
Pop Mart International Group (PMRTY) shares came under renewed pressure in early Hong Kong trading, falling as much as 9.7% to around HK$152 after a sharp 23% drop in the prior session, as analysts moved to reassess expectations following the company's latest results. While headline figures remained strong, revenue rose 185% to 37.1 billion yuan in 2025, slightly below the 38 billion yuan consensus, and net income climbed 309% to 12.8 billion yuan, modestly ahead of the 12.6 billion yuan forecast. The market reaction appears tied less to reported growth and more to signs of slowing momentum into the second half, particularly a sharper fourth-quarter deceleration that could raise questions about how durable recent growth trends may be.
Warning! GuruFocus has detected 1 Warning Sign with PMRTY. Is PMRTY fairly valued? Test your thesis with our free DCF calculator.
Analysts have started to adjust their models accordingly, with Bernstein highlighting potential downside to fiscal 2026 expectations, pointing to moderating growth, high intellectual property concentration, and what it described as speculative capital deployment. Morgan Stanley reduced its 20262027 earnings estimates by 4%, while UBS cut its price target by 15% to HK$278. There are also signals of a more cautious capital return profile, with the dividend payout ratio lowered to 25% in 2025 from 35% in 2024, which some investors could interpret as a shift in priorities as the company navigates a potentially more normalized growth phase.
The core of the investment debate remains centered on Labubu, which continues to anchor performance after generating 14.2 billion yuan in revenue in 2025, exceeding expectations and accounting for roughly 40% of total sales, up from 23% the prior year. Other franchises have delivered mixed results, with Skullpanda outperforming at 3.5 billion yuan, while figures such as Molly and Crybaby trailed expectations, highlighting the challenge of broadening the portfolio. Management has emphasized efforts to diversify through new characters like Twinkle Twinkle while continuing to scale internationally, particularly in the Americas where revenue rose 748% to 6.8 billion yuan following the addition of 42 stores. Still, with resale premiums narrowing and supply expanding after Labubu's viral surge in 2025, the key question for investors is whether Pop Mart can evolve into a more balanced intellectual property platform, with management guiding for at least 20% sales growth in 2026.
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- Pop Mart shares sink despite revenue surge, as analysts say Labubu reliance worries investors
Mar 25, 2026
HONG KONG (AP) — Labubu doll maker Pop Mart’s shares sank nearly 23% on Wednesday despite robust revenue, with analysts pointing to investor concerns over the Chinese toy company’s ability to grow beyond its heavy reliance on Labubu-related income.
The plunge in Pop Mart’s Hong Kong-listed shares came after the company reported 37.1 billion yuan ($5.4 billion) in annual revenue for 2025, up 185% from the year before but slightly missing analysts’ estimates.
Profit for the whole of last year was 12.8 billion yuan ($1.9 billion), up more than 300% from the 3.1 billion yuan in 2024, the company said.
Labubu, the toothy monster dolls with pointed ears, gained huge popularity across the world since 2024 as it was trending on social media and seen on handbags of celebrities. Long queues were formed at Pop Mart stores in many cities and fans were determined to snap up their latest editions.
Pop Mart’s reliance on Labubu, said Jeff Zhang, an equity analyst at Morningstar, is likely part of the reason for Wednesday’s share price fall. Pop Mart’s shares are still up 33% over the past year despite the investor sell-off.
“We think the market’s biggest concern still lies in the earnings growth prospect,” Zhang said, although he added that the Labubu frenzy is likely “yet to cease.” Roughly 38% of Pop Mart’s revenue came from its “The Monsters” proprietary intellectual property characters, which includes Labubu.
“Labubu’s popularity has been a huge success,” said Gary Ng, a senior economist at French bank Natixis. “However, there is an emerging concern that there is no second growth driver.”
If growth momentum of Labubu and its relevant products stall, it could become a “concentration risk” that would drag on sentiment, Ng said. Pop Mart's other characters include Molly and Skullpanda.
Wang Ning, CEO of Pop Mart, sought to ease investor worries on growth prospects during an earnings conference on Wednesday.
“People have expressed worries when talking about Labubu,” Wang said, “(About) whether it might just be a craze, and if it would be experiencing huge fluctuations.”
“However, based on our observations, we are pleased to see that it is becoming a lifestyle for more and more people,” he said. “We have strong expectations and confidence for (its) future.”
Pop Mart also has a theme park in Beijing, and just last week, the company confirmed it is partnering with Sony Pictures Entertainment on a new movie featuring Labubu.
It has also been expanding its global reach and production capabilities, and has manufacturing partners in countries such as Cambodia, Indonesia and Mexico, on top of China, the company said earlier.
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- Pop Mart Drops 22% Despite 185% Revenue Growth on Labubu Reliance Concerns
Mar 25, 2026
This article first appeared on GuruFocus.
Pop Mart (PMRTY) delivered another year of outsized growth, but investor reaction suggests confidence may be starting to wobble around what comes next. Shares fell nearly 22% after the company reported 2025 revenue of 37.1 billion yuan, rising 185% but slightly missing the 38 billion yuan consensus, while net income climbed 309% to 12.8 billion yuan, coming in just ahead of expectations. The headline numbers remained strong, yet the underlying trend pointed to softer momentum in the second half, with a sharper fourth-quarter slowdown that could be raising concerns about how sustainable recent growth levels may be.
Warning! GuruFocus has detected 1 Warning Sign with PMRTY. Is PMRTY fairly valued? Test your thesis with our free DCF calculator.
Much of that concern appears tied to the company's reliance on Labubu, which continues to dominate performance. The Labubu-led Monsters series generated 14.2 billion yuan in revenue, beating estimates of 12.5 billion yuan and accounting for about 40% of total sales, up from 23% the year before. Other franchises delivered a more uneven showing, with Skullpanda exceeding expectations at 3.5 billion yuan, while Crybaby and Molly came in below forecasts, including Molly's 2.9 billion yuan result versus a 4.6 billion yuan consensus. Management has been signaling efforts to broaden its intellectual property base, highlighting newer characters such as Twinkle Twinkle, though current results suggest the business still leans heavily on Labubu as its primary growth engine.
Looking ahead, the company is guiding for at least 20% sales growth in 2026, though the setup could be shifting toward a more normalized phase after the surge in 2025. The Labubu-driven boom, which helped expand Pop Mart's presence globally, including into the US, has shown signs of cooling as supply increased and counterfeit products spread, narrowing resale premiums. At the same time, the Americas has become a key growth driver, with 42 stores added and revenue rising 748% to 6.8 billion yuan, representing 18.3% of total sales. The company is continuing to push both geographic expansion and new content initiatives, including a planned Labubu movie with Sony Pictures Entertainment, as it works to sustain momentum and evolve into a broader intellectual property platform.
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- Pop Mart Stock Tumbles on Fading Labubu Hype
Mar 25, 2026
Pop Mart posted blockbuster earnings thanks to a global craze for its ugly-cute Labubu dolls. The question now is if it can keep churning out hits. Many investors appeared skeptical about that Wednesday, sending the stock tumbling more than 22%.
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