Insta360 is also going to launch a drone.

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As its first annual report after going public, Insta360's 2025 financial report shows a striking duality.

The report reveals that in 2025, Insta360 achieved revenue of 9.741 billion yuan, a year-on-year increase of 74.76%, setting a new record high.

Specifically, as its core category, consumer-grade intelligent imaging devices generated revenue of 8.516 billion yuan in 2025, a dramatic year-on-year increase of 77.83%. Accessories and other products, as well as professional-grade intelligent imaging devices, also maintained growth, generating 1.131 billion yuan and 25 million yuan respectively in the same period, with year-on-year increases of 57.47% and 5.3%.

However, net profit attributable to shareholders for the same period was 929 million yuan, a year-on-year decrease of 6.62%.

Profit pressure is related to Insta360’s substantial investment in R&D and sales expenses.

In 2025, Insta360's R&D expenses surged by 96.95% year-on-year to 1.53 billion yuan, mainly directed toward new categories such as drones, gimbal cameras, and wireless clip-on microphones, with simultaneous advancement in custom chip development—significantly reducing short-term profitability.

Regarding the reason for the "aggressive" R&D spending, Insta360 chairman Liu Jingkang emphasized, "In categories like drones, gimbal cameras, and clip-on microphones, which seem mature, we see, globally, a vast space for unmet customer needs and technological innovation. Although we are a 'second mover,' we are confident these categories, like the action camera market, can drive company growth while expanding the market."

According to Liu Jingkang, the three major new categories—gimbal cameras, microphones, and drones—are expected to be launched within the next year.

This is Insta360’s further bet in the drone field following its launch of a panoramic drone in collaboration with a third-party in 2025.

With the global market expansion and rapid new product releases, Insta360 has significantly ramped up its promotion through online and offline channels. Combined with sales team expansion, sales expenses in 2025 soared by 103.31% year-on-year to 1.679 billion yuan, with growth far exceeding revenue and further compressing profit margins.

In the first quarter of 2026, profit remained under pressure—Insta360’s revenue for the same period was 2.481 billion yuan, a year-on-year growth of over 80%, but net profit attributable to shareholders was only 85 million yuan, shrinking by more than half year-on-year.

As new products such as drones, gimbal cameras, and wireless clip-on microphones are launched, whether Insta360’s R&D investment can continue to convert into profits remains under close watch.

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