Zepp Health Q2 revenue rises 7% with only 1 or 2 more Amazfit launches planned for 2026

Zepp Health has spent most of 2026 pushing out new Amazfit hardware, but that run is nearly over. The company says the big launches are basically done for the year, with only a small amount of hardware still left in the pipeline.

That came out during Zepp Health’s Q2 2026 earnings call, where CFO Leon Deng was explaining why selling and marketing costs had risen so sharply. Q2 was unusually busy, with around six or seven launches. But Deng said the company is now “almost done with new product launches for the year.” And added that only “1 or 2” more products are expected in 2026.

T-Rex Dual Solar could be one of the final 2026 launches

One of the remaining devices could well be the Amazfit T-Rex Dual Solar⁠. We recently found the full T-Rex Dual Solar name inside the Zepp app, along with a solar-focused software package that includes charging records, solar intensity information and a dedicated Solar Boost Mode.

Regulatory filings have also linked model A2570 with the device, so this is well beyond a vague product-name leak at this point. There is still no confirmed launch date, but we are expecting the device to launch soon.

That also lines up with what Zepp was saying earlier in the year. After the company’s Q1 earnings, we looked at its 2026 device plans⁠, which pointed to more activity around the T-Rex range later in the year.

Since then, most of the important hardware has arrived. The company has expanded Active, Bip, Cheetah, Balance, T-Rex and Helio across several price points. So there simply are not many obvious gaps left.

Supply problems held back some new products

Not everything Zepp launched translated into revenue as quickly as it hoped. Management specifically pointed to supply constraints around Balance 3, Helio Strap and Bip as factors affecting its numbers and its Q3 outlook.

Balance 3 has apparently been particularly tricky to manufacture, while Helio Strap demand exceeded available supply. Zepp expects Helio Strap availability to improve during Q3 and return to full supply in Q4, giving both products more room to contribute later in the year.

Revenue improved, but spending jumped

As far as financials, Zepp Health reported Q2 revenue of $63.5 million. This was up 6.9% year over year. Gross margin improved from 36.2% to 37.4%, helped by a stronger mix of higher-priced Amazfit products.

That shift is showing up across several families. Zepp says higher-end T-Rex models account for around half of recent T-Rex activations. The more expensive Active models have also been taking a larger share.

The downside is that getting all this hardware into the market was expensive. Adjusted selling and marketing costs rose to $18.2 million from $12 million a year earlier, while adjusted operating loss widened to $11.1 million from $4.9 million.

GAAP net loss attributable to Zepp came in at $11.3 million, compared with $7.7 million a year ago. Management said much of the extra spending was tied to launch campaigns, e-commerce fees, athlete sponsorships and wider brand activity.

That spending should ease as the launch schedule calms down. Zepp is guiding for Q3 revenue of $68 million to $73 million, which would be down around 4% to 10% year over year against a very strong Q3 2025 comparison.

Zepp still expects revenue to grow for the full year, with supply looking much better by Q4. So the rest of 2026 should be less about throwing loads of new hardware at the market and more about getting the current lineup properly into stores and onto wrists.

There are still one or two launches coming. But Zepp has made it pretty clear that neither will be on the scale of what we saw earlier in the year. At this point, most of the 2026 Amazfit lineup is already out there.