Dada Nexus Limited (NASDAQ: DADA, “Dada” or the “Company”), China’s
leading local on-demand delivery and retail platform, today
announced its unaudited financial results for the third quarter
ended September 30, 2021.
Third Quarter 2021
Highlights
- Total
net revenues were RMB1,686.8 million.
- Total
Gross Merchandise Volume (“GMV”) of JDDJ for the twelve
months ended September 30, 2021 was RMB37.2 billion, an increase of
74.6% year over year from RMB21.3 billion in the same period ended
September 30, 2020.
- Number
of active consumers for the twelve months ended September
30, 2021 was 57.1 million, as compared with 37.3 million in the
same period ended September 30, 2020.
“Dada has always been committed to driving
digital transformation in the retail industry and providing
consumers with superior experience to meet the evolving demands,”
said Mr. Philip Kuai, Chairman and Chief Executive Officer of Dada.
“We are excited to strengthen strategic cooperation with JD under
the omni-channel strategy to explore the enormous potential in the
on-demand retail industry. We will continuously work together to
create more value for retailers, brands and consumers and serve the
development of the real economy.”
“We are delighted to deliver another strong
quarter and believe the encouraging trend will continue based on
the strengthened partnerships with retailers and brand owners,”
said Beck Chen, Chief Financial Officer of Dada. “We are excited
with accelerated total revenue growth year over year on a
comparable basis1 and significant operating margin improvement.
Driven by continuous expansion in partner and user base along with
gains in operating efficiency, we remain confident on further
revenue growth acceleration on a comparable basis1 and margin
improvement in the fourth quarter.”
Third Quarter 2021 Financial
Results
Total net revenues were
RMB1,686.8 million.
|
|
|
For the three months ended September 30, |
|
|
|
|
2020 |
|
2021 |
|
|
|
|
(RMB in thousands) |
|
|
Net Revenue |
|
|
|
|
|
|
Dada Now |
|
|
|
|
|
|
Services |
|
704,961 |
|
592,508 |
|
|
Sales of goods |
|
14,034 |
|
21,781 |
|
|
Subtotal |
|
718,995 |
|
614,289 |
|
|
JDDJ |
|
|
|
|
|
|
Services note (1) |
|
582,507 |
|
1,072,490 |
|
|
Total |
|
1,301,502 |
|
1,686,779 |
|
|
|
|
|
|
|
|
Note: (1) Includes net revenues from commission
fee, and advertising and marketing services of RMB297,382 for the
three months ended September 30, 2020 and RMB643,704 for the three
months ended September 30, 2021; Fulfillment services and others of
RMB285,125 and RMB428,786 for the three months ended September 30,
2020 and 2021, respectively.
Net revenues generated from Dada Now were
RMB614.3 million. The difference as compared to that of the third
quarter of 2020 is mainly due to the fact that effective from April
2021, the cost of riders for last-mile delivery services has been
directly paid through third-party companies instead of through the
Company. Thus the Company no longer recognizes rider-related
revenue and rider-related costs in the income statement for the
last-mile delivery services. Aligning the revenue of Dada Now
last-mile delivery services to a comparable basis, revenue growth
from Dada Now would have been 90.5% year over year1, mainly driven
by the increases in order volume of intra-city delivery service to
chain merchants.
Net revenues generated from JDDJ were RMB1,072.5
million. The difference as compared to that of the third quarter of
2020 is mainly due to the increase in GMV from the same quarter
last year, which was driven by increases in the number of active
consumers and average order size. The increase in online marketing
services revenue as a result of the increasing promotional
activities launched by brand owners also constituted an increment
of the net revenues generated from JDDJ.
Total costs and expenses were
RMB2,282.3 million, compared with RMB1,758.1 million in the same
quarter of 2020.
-
Operations and support costs were RMB1,235.7
million, compared with RMB1,018.2 million in the same quarter of
2020. The rise was primarily due to an increase in rider cost as a
result of increasing order volume for intra-city delivery services
provided to various chain merchants on the Dada Now platform and
retailers on the JDDJ platform, partially offset by the decrease of
rider-related cost incurred by business upgrade of last-mile
delivery services.
- Selling
and marketing expenses were RMB780.3 million, compared
with RMB499.2 million in the same quarter of 2020. The increase was
primarily due to (i) growing incentives to JDDJ consumers, and (ii)
an increase in personnel cost in connection with the Company’s
growing business.
- General
and administrative expenses were RMB98.5 million, compared
with RMB121.1 million in the same quarter of 2020. The decrease was
primarily due to decreased share-based compensation expenses.
-
Research and development expenses were RMB148.0
million, compared with RMB103.1 million in the same quarter of
2020. The increase was mainly attributable to the increase in
research and development personnel cost as the Company continues to
strengthen its technological capabilities.
Loss from operations was
RMB565.8 million, compared with RMB449.9 million in the same
quarter of 2020.
Non-GAAP loss from
operations2 was RMB472.1 million,
compared with RMB338.7 million in the same quarter of 2020.
Net loss was RMB542.7 million,
compared with RMB434.0 million in the same period of 2020.
Non-GAAP net
loss3 was RMB450.1 million, compared with
RMB324.0 million in the same period of 2020.
Net loss attributable to ordinary
shareholders of Dada was RMB542.7 million, compared with
RMB434.0 million in the same quarter of 2020.
Non-GAAP net loss attributable to
ordinary shareholders of Dada4 was
RMB450.1 million, compared with RMB324.0 million in the same
quarter of 2020.
Basic and diluted net loss per
share was RMB0.57, compared with RMB0.48 for the third
quarter of 2020.
Non-GAAP basic and diluted net loss per
share5 was RMB0.48, compared with RMB0.36
for the third quarter of 2020.
As of September 30, 2021, the Company had
RMB2,932.0 million in cash, cash equivalents, restricted
cash and short-term investments, a decrease from
RMB6,291.1 million as of December 31, 2020.
Pursuant to our $150 million share repurchase
authorization announced in June 2021, as of October 31, 2021, we
had repurchased approximately US$130.6 million of ADSs under this
repurchase program.
Environment, Social Responsibility and
Corporate Governance
The Company made a number of advances across its
ESG initiatives in the third quarter:
- On September
27, Dada launched the first Dada Now Rider Festival, where riders
participated in nationwide online and offline rider care
activities. In September, Rider Talent Challenge hosted by Dada
received over 10 million views on short video platform, allowing
more people to learn about Dada Now riders’ highlight moments.
- To improve
riders’ delivery experience, Dada not only initiates various rider
care programs, but also focuses on system upgrade. For example,
based on the dynamic timeliness database, Dada is now able to
identify most of the unusual scenarios during the delivery process
to flexibly estimate the pick-up and delivery time for riders, so
that riders can improve delivery efficiency and be protected
against abnormal cases.
- Dada
proactively participates in the Special Action Plan for Aging-
Friendly and Barrier-Free Updating of Internet Applications
initiated by China’s Ministry of Industry and Information
Technology. To ensure the ease-of-use of JDDJ App’s customized mode
for elderly and disabled users, Dada recruited blind volunteers
across a number of cities to collect feedbacks and engaged in
writing the learning manual of using smart phones for the elderly
people.
Business Outlook
For the fourth quarter of 2021, Dada expects
total revenue to be between RMB2.0 billion and RMB2.1 billion.
Aligning the revenue of Dada Now last-mile delivery services to a
comparable basis in the fourth quarters of 2020 and 2021, total
revenue of the fourth quarter of 2021 will realize 88% to 97%
year-over-year growth1. This outlook is based on information
available as of the date of this press release and reflects the
Company's current and preliminary expectations, which are subject
to change in light of various uncertainties, including those
related to the ongoing COVID-19
pandemic.___________________________1 Effective from April 2021,
the cost of riders for last-mile delivery services has been
directly paid through third-party companies instead of through the
Company. The Company no longer recognizes rider-related revenue and
rider-related costs in the income statement for the last-mile
delivery services. To help better understand the growth excluding
the change’s impact on revenue, the Company hereby presents the
year-over-year growth assuming excluding the cost of riders
directly paid during the comparative periods of current year and
last year.
2 Non-GAAP loss from operations represents loss from operations
excluding the impact of share-based compensation expenses and
amortization of intangible assets resulting from business
acquisition.3 Non-GAAP net loss represents net loss excluding the
impact of share-based compensation expenses, amortization of
intangible assets resulting from business acquisitions and tax
benefit from amortization of such intangible assets.4 Non-GAAP net
loss attributable to ordinary shareholders of Dada is net loss
attributable to ordinary shareholders of Dada excluding the impact
of share-based compensation expenses, amortization of intangible
assets resulting from business acquisition and tax benefit from
amortization of such intangible assets.5 Non-GAAP net loss per
share is non-GAAP net loss attributable to ordinary shareholders of
Dada divided by weighted average number of shares used in
calculating net loss per share.
Conference Call
The Company will host a conference call to
discuss the earnings at 8:00 p.m. Eastern Time on Tuesday, November
23, 2021 (9:00 a.m. Beijing time on Wednesday, November 24,
2021).
Please register in advance of the conference
using the link provided below and dial in 10 minutes prior to the
call, using participant dial-in numbers, Direct Event passcode and
unique registrant ID which would be provided upon registering. You
will be automatically linked to the live call after completion of
this process, unless required to provide the conference ID below
due to regional restrictions.
PRE-REGISTER LINK:
http://apac.directeventreg.com/registration/event/6597641
CONFERENCE ID: 6597641
A telephone replay of the call will be available
after the conclusion of the conference call through 07:59 a.m.
Eastern Time, December 1, 2021.
| Dial-in numbers for the replay are as follows: |
| |
|
| International Dial-in |
+61-2-8199-0299 |
| U.S. Toll Free |
1-855-452-5696 |
| Mainland China |
8008-700-206 |
| Hong Kong |
800-963-117 |
| Passcode: |
6597641# |
| |
|
A live and archived webcast of the conference
call will be available on the Investor Relations section of Dada’s
website at https://ir.imdada.cn/.
Use of Non-GAAP Financial Measures
The Company also uses certain non-GAAP financial
measures in evaluating its business. For example, the Company uses
non-GAAP income/(loss) from operations, non-GAAP operating margin,
non-GAAP net income/(loss), non-GAAP net margin, non-GAAP net
income/(loss) attributable to ordinary shareholders of Dada and
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada per share as supplemental measures to review and assess its
financial and operating performance. The presentation of these
non-GAAP financial measures is not intended to be considered in
isolation, or as a substitute for the financial information
prepared and presented in accordance with U.S. GAAP. Non-GAAP
income/(loss) from operations is income/(loss) from operations
excluding the impact of share-based compensation expenses and
amortization of intangible assets resulting from business
acquisition. Non-GAAP operating margin is non-GAAP income/(loss)
from operations as a percentage of total net revenues. Non-GAAP net
income/(loss) is net income/(loss) excluding the impact of
share-based compensation expenses, amortization of intangible
assets resulting from business acquisition and tax benefit from
amortization of such intangible assets. Non-GAAP net margin is
non-GAAP net income/(loss) as a percentage of total net revenues.
Non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada is net income/(loss) attributable to ordinary shareholders of
Dada excluding the impact of share-based compensation expenses,
amortization of intangible assets resulting from business
acquisition and tax benefit from amortization of such intangible
assets. Non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada per share is non-GAAP net income/(loss)
attributable to ordinary shareholders of Dada divided by weighted
average number of shares used in calculating net income/(loss) per
share.
The Company presents the non-GAAP financial
measures because they are used by the Company’s management to
evaluate the Company’s financial and operating performance and
formulate business plans. Non-GAAP income/(loss) from operations
and non-GAAP net income/(loss) enable the Company’s management to
assess the Company’s financial and operating results without
considering the impact of share-based compensation expenses,
amortization of intangible assets resulting from business
acquisition and tax benefit from amortization of such intangible
assets. The Company also believes that the use of the non-GAAP
measures facilitates investors’ assessment of the Company’s
financial and operating performance.
The non-GAAP financial measures are not defined
under U.S. GAAP and are not presented in accordance with U.S. GAAP.
The non-GAAP financial measures have limitations as analytical
tools. One of the key limitations of using non-GAAP income/(loss)
from operations, non-GAAP net income/(loss), non-GAAP net
income/(loss) attributable to ordinary shareholders of Dada, and
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada per share is that they do not reflect all items of income and
expense that affect the Company’s operations. Share-based
compensation expenses, amortization of intangible assets resulting
from business acquisition and tax benefit from amortization of such
intangible assets have been and may continue to be incurred in the
Company’s business and is not reflected in the presentation of
non-GAAP income/(loss) from operations, non-GAAP net income/(loss),
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada, and non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada per share. Further, the non-GAAP measures may
differ from the non-GAAP measures used by other companies,
including peer companies, potentially limiting the comparability of
their financial results to the Company’s. In light of the foregoing
limitations, the non-GAAP income/(loss) from operations, non-GAAP
operating margin, non-GAAP net income/(loss), non-GAAP net margin,
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada and non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada per share for the period should not be
considered in isolation from or as an alternative to income/(loss)
from operations, operating margin, net income/(loss), net margin,
net income/(loss) attributable to ordinary shareholders of Dada and
net income/(loss) attributable to ordinary shareholders of Dada per
share, or other financial measures prepared in accordance with U.S.
GAAP.
The Company compensates for these limitations by
reconciling the non-GAAP financial measures to the nearest U.S.
GAAP performance measures, which should be considered when
evaluating the Company’s performance. For reconciliations of these
non-GAAP financial measures to the most directly comparable GAAP
financial measures, please see the section of the accompanying
tables titled, “Reconciliations of GAAP and Non-GAAP Results.”
Forward-Looking Statements
This press release contains statements that may
constitute “forward-looking” statements pursuant to the “safe
harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to”
and similar statements. Among other things, quotations in this
announcement, contain forward-looking statements. Dada may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the “SEC”),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about Dada’s beliefs, plans
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: Dada’s strategies; Dada’s future business
development, financial condition and results of operations; Dada’s
ability to maintain its relationship with major strategic
investors; its ability to provide efficient on-demand delivery
services and offer quality on-demand retail experience; its ability
to maintain and enhance the recognition and reputation of its
brands; general economic and business conditions globally and in
China and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in Dada’s filings with the SEC. All information provided
in this press release is as of the date of this press release, and
Dada does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
About Dada
Dada is a leading platform of local on-demand
retail and delivery in China. It operates JDDJ, one of China’s
largest local on-demand retail platforms for retailers and brand
owners, and Dada Now, a leading local on-demand delivery platform
open to merchants and individual senders across various industries
and product categories. The Company’s two platforms are
inter-connected and mutually beneficial. The Dada Now platform
enables improved delivery experience for participants on the JDDJ
platform through its readily accessible fulfillment solutions and
strong on-demand delivery infrastructure. Meanwhile, the vast
volume of on-demand delivery orders from the JDDJ platform
increases order volume and density for the Dada Now platform.
For more information, please visit https://ir.imdada.cn/.
For investor inquiries, please contact:
Dada Nexus LimitedMs. Caroline DongE-mail: ir@imdada.cn
Christensen
In ChinaMr. Rene VanguestainePhone: +86-178-1749 0483E-mail:
rvanguestaine@christensenir.com
In USMs. Linda BergkampPhone: +1-480-614-3004E-mail:
lbergkamp@christensenir.com
For media inquiries, please
contact:
Dada Nexus Limited E-mail: PR@imdada.cn
Appendix I
|
DADA NEXUS LIMITED |
|
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS |
|
(Amounts in thousands, except share data and otherwise
noted) |
|
|
|
|
|
|
|
|
|
|
As of December 31, |
|
As of September 30, |
|
|
|
|
2020 |
|
2021 |
|
|
|
|
RMB |
|
RMB |
|
|
ASSETS |
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
Cash and cash equivalents |
|
5,461,264 |
|
1,553,807 |
|
|
Restricted cash |
|
59,791 |
|
44,876 |
|
|
Short-term investments |
|
770,000 |
|
1,333,288 |
|
|
Accounts receivable |
|
403,584 |
|
241,196 |
|
|
Inventories, net |
|
5,410 |
|
7,228 |
|
|
Amount due from related parties |
|
646,341 |
|
595,949 |
|
|
Prepayments and other current assets |
|
175,592 |
|
449,385 |
|
|
Total current assets |
|
7,521,982 |
|
4,225,729 |
|
|
Non-current assets |
|
|
|
|
|
|
Property and equipment, net |
|
39,640 |
|
38,962 |
|
|
Goodwill |
|
957,605 |
|
957,605 |
|
|
Intangible assets, net |
|
507,964 |
|
375,079 |
|
|
Operating lease right-of-use assets |
|
107,120 |
|
87,856 |
|
|
Non-current time deposits |
|
400,000 |
|
400,000 |
|
|
Other non-current assets |
|
12,715 |
|
29,952 |
|
|
Total non-current assets |
|
2,025,044 |
|
1,889,454 |
|
|
|
|
|
|
|
|
|
TOTAL ASSETS |
|
9,547,026 |
|
6,115,183 |
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
Short-term loan |
|
600,000 |
|
200,000 |
|
|
Accounts payable |
|
13,846 |
|
6,462 |
|
|
Notes payable |
|
170,000 |
|
170,000 |
|
|
Payable to riders and drivers |
|
717,496 |
|
459,909 |
|
|
Amount due to related parties |
|
52,918 |
|
63,544 |
|
|
Accrued expenses and other current liabilities |
|
814,991 |
|
483,623 |
|
|
Operating lease liabilities |
|
41,737 |
|
39,592 |
|
|
Total current liabilities |
|
2,410,988 |
|
1,423,130 |
|
|
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
|
Deferred tax liabilities |
|
38,558 |
|
34,799 |
|
|
Non-current operating lease liabilities |
|
69,525 |
|
53,961 |
|
|
Total non-current liabilities |
|
108,083 |
|
88,760 |
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
|
2,519,071 |
|
1,511,890 |
|
|
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
Ordinary shares (US$0.0001 par value, 2,000,000,000 shares
authorized, 941,450,185 and 935,728,429 shares issued and
outstanding as of December 31, 2020 and September 30, 2021,
respectively) |
|
639 |
|
|
635 |
|
|
Additional paid-in capital |
|
16,442,721 |
|
|
15,936,616 |
|
|
Accumulated deficit |
|
(9,345,102 |
) |
|
(11,238,442 |
) |
|
Accumulated other comprehensive loss |
|
(70,303 |
) |
|
(95,516 |
) |
|
TOTAL SHAREHOLDERS’ EQUITY |
|
7,027,955 |
|
|
4,603,293 |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
9,547,026 |
|
|
6,115,183 |
|
|
|
|
|
|
|
|
|
DADA NEXUS
LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS AND COMPREHENSIVE LOSS(Amounts in
thousands, except share and per share data and otherwise
noted)
|
|
|
|
|
|
|
For the three months ended September 30, |
|
|
|
2020 |
|
2021 |
|
|
|
RMB |
|
RMB |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenues |
|
1,301,502 |
|
|
1,686,779 |
|
|
Costs and expenses |
|
|
|
|
|
Operations and support |
|
(1,018,168 |
) |
|
(1,235,733 |
) |
|
Selling and marketing |
|
(499,150 |
) |
|
(780,324 |
) |
|
General and administrative |
|
(121,135 |
) |
|
(98,536 |
) |
|
Research and development |
|
(103,117 |
) |
|
(147,982 |
) |
|
Other operating expenses |
|
(16,500 |
) |
|
(19,750 |
) |
|
Total costs and expenses |
|
(1,758,070 |
) |
|
(2,282,325 |
) |
|
Other operating income |
|
6,635 |
|
|
29,721 |
|
|
Loss from operations |
|
(449,933 |
) |
|
(565,825 |
) |
|
|
|
|
|
|
|
Other income/(expenses) |
|
|
|
|
|
Interest income |
|
18,717 |
|
|
24,777 |
|
|
Interest expenses |
|
(4,066 |
) |
|
(2,918 |
) |
|
Foreign exchange gain |
|
— |
|
|
52 |
|
|
Total other income |
|
14,651 |
|
|
21,911 |
|
|
Loss before income tax benefits |
|
(435,282 |
) |
|
(543,914 |
) |
|
Income tax benefits |
|
1,253 |
|
|
1,253 |
|
|
Net loss |
|
(434,029 |
) |
|
(542,661 |
) |
|
Accretion of convertibleredeemable preferred shares |
|
— |
|
|
— |
|
| Net loss attributable to
ordinary shareholders of Dada Group |
|
(434,029 |
) |
|
(542,661 |
) |
|
|
|
|
|
|
|
Net loss per share |
|
|
|
|
|
Basic |
|
(0.48 |
) |
|
(0.57 |
) |
|
Diluted |
|
(0.48 |
) |
|
(0.57 |
) |
|
|
|
|
|
|
|
Weighted average shares used in calculating net loss per
share |
|
|
|
|
|
Basic |
|
898,428,565 |
|
|
944,451,432 |
|
|
Diluted |
|
898,428,565 |
|
|
944,451,432 |
|
|
|
|
|
|
|
|
Net loss |
|
(434,029 |
) |
|
(542,661 |
) |
| Other comprehensive
income/(loss) |
|
|
|
|
|
Foreign currency translation adjustments, net of tax of nil |
|
(107,726 |
) |
|
5,348 |
|
|
Total comprehensive loss |
|
(541,755 |
) |
|
(537,313 |
) |
|
|
|
|
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|
DADA NEXUS
LIMITEDReconciliations of GAAP and Non-GAAP
Results(Amounts in thousands, except share and per
share data and otherwise noted)
|
|
|
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|
|
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|
For the three months ended September 30, |
|
|
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2020 |
|
2021 |
|
|
|
RMB |
|
RMB |
|
|
|
|
|
|
|
Loss from operations |
|
(449,933 |
) |
|
(565,825 |
) |
|
Add: |
|
|
|
|
|
Share-based compensation expense |
|
66,004 |
|
|
50,673 |
|
|
Intangible assets amortization |
|
45,231 |
|
|
43,099 |
|
| Non-GAAP loss from
operations |
|
(338,698 |
) |
|
(472,053 |
) |
| |
|
|
|
|
| Net loss |
|
(434,029 |
) |
|
(542,661 |
) |
|
Add: |
|
|
|
|
|
Share-based compensation expense |
|
66,004 |
|
|
50,673 |
|
|
Intangible assets amortization |
|
45,231 |
|
|
43,099 |
|
|
Income tax benefit |
|
(1,253 |
) |
|
(1,253 |
) |
| Non-GAAP net
loss |
|
(324,047 |
) |
|
(450,142 |
) |
| |
|
|
|
|
|
Accretion of convertible redeemable preferred shares |
|
— |
|
|
— |
|
|
|
|
|
|
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| Non-GAAP net loss
attributable to ordinary shareholders of Dada Group |
|
(324,047 |
) |
|
(450,142 |
) |
| |
|
|
|
|
| Non-GAAP net loss per
share |
|
|
|
|
|
Basic |
|
(0.36 |
) |
|
(0.48 |
) |
|
Diluted |
|
(0.36 |
) |
|
(0.48 |
) |
| |
|
|
|
|
| Weighted average shares
used in calculating net loss per share |
|
|
|
|
|
Basic |
|
898,428,565 |
|
|
944,451,432 |
|
|
Diluted |
|
898,428,565 |
|
|
944,451,432 |
|
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