FlashEx Accelerates Growth in Q2 2026: Delivering on Demand with Speed and Efficiency
FlashEx, the pioneering on-demand delivery company, has announced its second-quarter financial results for 2026. The company's CEO, Adam Xue, highlighted the significant progress made during this period, driven by strategic investments in technology and infrastructure.
In a conference call held on August 20th, Xue emphasized that users today expect more than just speed when it comes to delivery services. They demand an entire service experience from ordering to arrival. FlashEx has been building its dedicated courier model and advancing technology to meet this growing expectation.
The operating approach implemented over the past several quarters yielded tangible results in Q2, with scale and delivery efficiency improving together. Total order volume grew 8.9% quarter-over-quarter, while average delivery time shortened from 25.7 minutes in the first quarter to 25.3 minutes in the second quarter, despite a rise in volume.
The company's rider base and service network continue to expand, with registered Flash-Riders reaching 3.23 million by the end of Q2, and its service coverage expanding to 299 cities. The user base also grew steadily, with registered users up 4 million from the first quarter to 124 million.
FlashEx's financial performance in Q2 was impressive, with total revenue reaching CNY 940.3 million, gross margin at 10.2%, non-GAAP income from operations at CNY 10.8 million, and non-GAAP net income at CNY 11.4 million. The company's cash position stood at CNY 853.4 million as of the end of Q2.
The order mix by category showed a balanced growth across all sources, with fresh flowers growing 29.2% quarter-over-quarter in order volume. Food, cakes, and electronics also posted order volume growth both year-over-year and quarter-over-quarter, making FlashEx's order composition more stable.
On the merchant side, FlashEx successfully grew its merchant base by 18% quarter-over-quarter, with a significant increase in high-value merchants. Enterprise clients stood out, with new signings up 53.1% quarter-over-quarter, shifting the company's merchant structure towards more stable revenue streams.
The delivery demands from these enterprise clients come from their day-to-day business processes, such as transferring inventory between stores or dispatching after-sale parts urgently. These demands are continuous and lead to longer-lasting relationships with FlashEx, making its revenue more stable.
