BEIJING, March 7, 2018 /PRNewswire/ -- Momo Inc. (NASDAQ:
MOMO) ("Momo" or the "Company"), a leading mobile social networking
platform in China, today announced
its unaudited financial results for the fourth quarter and the full
year ended December 31, 2017.
Fourth Quarter 2017 Highlights
- Net revenues increased 57% year over year to $386.4 million.
- Net income attributable to Momo Inc. increased to $97.5 million in the fourth quarter of 2017 from
$83.8 million in the same period last
year.
- Non-GAAP net income attributable to Momo Inc. (note 1)
increased 20% to $110.0 million in
the fourth quarter of 2017 from $91.5
million in the same period last year.
- Diluted net income per American Depositary Share ("ADS") was
$0.47, compared to $0.41 in the same period last year.
- Non-GAAP diluted net income per ADS (note 1) was $0.53, compared to $0.44 in the same period last year.
- Monthly Active Users ("MAU")[1] were 99.1
million in December 2017, compared to
81.1 million in December 2016
Full Year 2017 Highlights
- Net revenues increased 138% year over year to $1,318.3 million for the full year of 2017.
- Net income attributable to Momo Inc. was $318.6 million for the full year of 2017,
compared with $145.3 million in
2016.
- Non-GAAP net income attributable to Momo Inc. (note 1) was
$368.2 million for the full year of
2017, compared with $177.0 million in
2016.
- Diluted net income per ADS was $1.53 for the full year of 2017, compared with
$0.71 in 2016.
- Non-GAAP diluted net income per ADS (note 1) was $1.77 for the full year of 2017, compared with
$0.87 in 2016.
"We had a good fourth quarter, capping off a remarkable year. I
am happy to see the initiatives that we took in prior quarters
started to bear early fruits." Commented Yan Tang, Chairman and CEO
of Momo. "Net addition in MAU reaccelerated in the quarter with
improving user retention and engagement. Such reacceleration shows
the effectiveness of our product and content strategy as well as
the improvement in the top of the funnel efficiency driven by our
new marketing system. In addition, due to the initiatives that we
have been taking since the fourth quarter, the content ecosystem
around the live streaming service is seeing substantial development
as we entered into the new year, providing a solid foundation for
us to continue to drive content improvement and business growth for
live streaming business going forward."
[1]MAU during a given calendar
month is defined as Momo users who accessed the Momo platform
through Momo mobile application and utilized any of the functions
on the Momo platform for at least one day during the 30-day period
counting back from the last day of such calendar month. The active
users on Hani, the Company's stand-alone live video application,
were not included in the MAU disclosed herein.
|
Fourth Quarter 2017 Financial Results
Net revenues
Total net revenues were $386.4
million in the fourth quarter of 2017, an increase of 57%
from $246.1 million in the fourth
quarter of 2016.
Live video service revenues continued its momentum and generated
revenues of $328.0 million in the
fourth quarter of 2017. The rapid growth in live video revenues was
contributed by the increase in the quarterly paying users, which
was 4.3 million for the fourth quarter of 2017, as well as, the
increase in the average revenues per paying user per quarter.
Value-added service revenues mainly include membership
subscription revenues and virtual gift revenues. The total
value-added service revenues were $29.4
million in the fourth quarter of 2017, an increase of 54%
from $19.1 million during the same
period of 2016. The year over year increase was primarily driven by
the increase in the number of paying users, and to a lesser extent,
the increase in the average revenues per paying user per quarter
with the result that we introduced more and more value-added
services to our users to enrich communication experience among
users. Total paying users of our value-added service were 5.0
million and 3.7 million as of December 31,
2017 and 2016, respectively.
Mobile marketing revenues were $21.8
million in the fourth quarter of 2017, an increase of 11%
from $19.7 million during the same
period of 2016. The growth in mobile marketing revenues was driven
by the increased demand from brand marketers which was partially
offset by the decrease of our advertisement inventories in the new
version of Momo 8.0.
Mobile games revenues were $6.9
million in the fourth quarter of 2017, a decrease of 39%
from $11.3 million in the fourth
quarter of 2016. The decrease in game revenues was mainly due to
the decrease in the quarterly paying users.
Cost and expenses
Cost and expenses were $293.3
million in the fourth quarter of 2017, an increase of 86%
from $157.7 million in the fourth
quarter of 2016. The increase was primarily attributable to: (a) an
increase in revenue sharing with the broadcasters related to our
live video service and virtual gift recipients; (b) an
increase in marketing and promotional expenses to enhance our brand
awareness, attract users and promote the live video service; (c) an
increase in personnel related costs including share-based
compensation expenses as a result of the Company's rapidly
expanding talent pool; (d) increased infrastructure related
spending, such as short messaging service charges, bandwidth costs
and server depreciation costs, driven by more functions introduced
on Momo's platform.
Non-GAAP cost and expenses (note 1) were $280.8 million in the fourth quarter of 2017, an
increase of 87% from $150.0 million
during the same period last year.
Income from operations
Income from operations was $107.1
million in the fourth quarter of 2017, compared to
$88.4 million during the same period
last year.
Non-GAAP income from operations (note 1) was $119.6 million in fourth quarter of 2017,
compared to $96.1 million during the
same period last year.
Income tax expenses
Income tax expenses were $19.0
million in the fourth quarter of 2017, increased from
$3.2 million in the fourth quarter of
2016. The increase was mainly because we generated higher profit in
the fourth quarter of 2017 and the tax holiday of one of our major
profit generating entities changed from 100% exemption to 50%
exemption of income tax.
Net income attributable to Momo
Inc.
Net income attributable to Momo Inc. was $97.5 million in the fourth quarter of 2017,
compared to $83.8 million during the
same period last year.
Non-GAAP net income (note 1) attributable to Momo Inc. was
$110.0 million in the fourth quarter
of 2017, compared to $91.5 million
during the same period last year.
Net income per ADS
Diluted net income per ADS was $0.47 in the fourth quarter of 2017, compared to
$0.41 in the fourth quarter of
2016.
Non-GAAP diluted net income per ADS (note 1) was $0.53 in the fourth quarter of 2017, compared to
$0.44 in the fourth quarter of
2016.
Cash and cash flow
As of December 31, 2017, Momo's
cash, cash equivalents and term deposits totaled $1,059.6 million, compared to $651.3 million as of December 31, 2016. Net cash provided by operating
activities in the fourth quarter of 2017 was $119.6 million, compared to $107.2 million for the same quarter of 2016.
Full Year 2017 Financial Results
Net revenues for the full year of 2017 were $1,318.3 million, an increase of 138% from
$553.1 million in 2016, primarily
driven by the significant increase in net revenues from live video
service, value-added service, mobile marketing business.
Net income attributable to Momo Inc. was $318.6 million for the full year of 2017,
compared to $145.3 million in
2016.
Non-GAAP net income attributable to Momo Inc. (note 1) was
$368.2 million for the full year of
2017, compared to $177.0 million in
2016.
Diluted net income per ADS was $1.53 for the full year of 2017, compared to
$0.71 in 2016.
Non-GAAP diluted net income per ADS (note 1) was $1.77 for the full year of 2017, compared to
$0.87 in 2016.
Net cash provided by operating activities was $427.6 million during the full year of 2017,
compared to $218.3 million in
2016.
Business Outlook
For the first quarter of 2018, the Company expects total net
revenues to be between $387.0 million
and $402.0 million, representing a
year-over-year increase of 46% to 52%. These estimates reflect the
Company's current and preliminary view, which is subject to
change.
Note 1: Non-GAAP measures
To supplement our consolidated financial statements presented in
accordance with U.S. generally accepted accounting principles
("GAAP"), we use various non-GAAP financial measures that are
adjusted from the most comparable GAAP results to exclude
share-based compensation.
Reconciliations of our non-GAAP financial measures to our U.S.
GAAP financial measures are shown in tables at the end of this
earnings release, which provide more details about the non-GAAP
financial measures.
Our non-GAAP financial information is provided as additional
information to help investors compare business trends among
different reporting periods on a consistent basis and to enhance
investors' overall understanding of the historical and current
financial performance of our continuing operations and our
prospects for the future. Our non-GAAP financial information should
be considered in addition to results prepared in accordance with
GAAP, but should not be considered a substitute for or superior to
the GAAP results. In addition, our calculation of the non-GAAP
financial measures may be different from the calculation used by
other companies, and therefore comparability may be limited.
Our non-GAAP information (including non-GAAP cost and operating
expenses, income from operations, net income attributable to Momo
Inc., and diluted earnings per ADS) is adjusted from the most
comparable GAAP results to exclude share-based compensation. A
limitation of using these non-GAAP financial measures is that
share-based compensation charge has been and will continue to be
for the foreseeable future a significant recurring expense in our
results of operations. We compensate for these limitations by
providing reconciliations of our non-GAAP measures to our U.S. GAAP
measures. Please see the reconciliation tables at the end of this
earnings release.
Conference Call
Momo's management will host an earnings conference call on
Wednesday, March 7,
2018 at 8: 00 a.m. U.S. Eastern Time (9:00 p.m. Beijing / Hong Kong Time
on March 7, 2018).
Dial-in details for the earnings conference call are as
follows:
International:
|
+65 6713
5090
|
U.S. Toll
Free:
|
+1 866 519
4004
|
Hong Kong Toll
Free:
|
800-906601
|
Mainland
China:
|
4006-208038
|
Passcode:
|
Momo
|
Please dial in 15 minutes before the call is scheduled to
begin.
A telephone replay of the call will be available after the
conclusion of the conference call through 8:00 a.m. U.S.
Eastern Time, March 15, 2018. The dial-in details for the
replay are as follows:
International:
|
+61-2-8199
0299
|
U.S. Toll
Free:
|
+1 855 452
5696
|
Passcode:
|
8188118
|
Additionally, a live and archived webcast of the conference call
will be available on the Investor Relations section of Momo's
website at http://ir.immomo.com.
About Momo
Momo Inc. (Nasdaq: MOMO) is one of
China's leading mobile social
networking platforms. Momo enables users to establish and expand
social relationships based on location and interests. Our platform
includes our Momo mobile application and a variety of related
features, functionalities, tools and services that we provide to
users, customers and platform partners. We aim to offer our users
an authentic social experience by encouraging them to provide
detailed personal information on Momo. Leveraging our social
interest graph engine and our analysis of user behavior data, we
are able to provide users a customized experience based on their
social preferences and needs. Momo users can maintain and
strengthen their relationships through our private and group
communication tools, content creation and sharing functions,
recreational activities such as gaming, live and short video, as
well as the offline social activities promoted on our platform. For
more information, please visit http://ir.immomo.com.
For investor and media inquiries, please contact:
Momo Inc.
MOMO Investor Relations
Ms. Ashley Jing
Phone: +86-10-5731-0538
Email: ir@immomo.com
Christensen In China
Mr. Christian Arnell
Phone: +86-10- 5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
Safe Harbor Statement
This news release contains "forward-looking" statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include but are not
limited to our management quotes and our financial outlook for the
first quarter of 2018.
Our forward-looking statements are not historical facts but
instead represent only our belief regarding expected results and
events, many of which, by their nature, are inherently uncertain
and outside of our control. Our actual results and other
circumstances may differ, possibly materially, from the anticipated
results and events indicated in these forward-looking statements.
Announced results for the fourth quarter of 2017 are preliminary,
unaudited and subject to audit adjustment. In addition, we may not
meet our financial outlook for the first quarter of 2018 and may be
unable to grow our business in the manner planned. We may also
modify our strategy for growth. In addition, there are other
risks and uncertainties that could cause our actual results to
differ from what we currently anticipate, including those relating
to our ability to retain and grow our user base, our ability to
attract and retain sufficiently trained professionals to support
our operations, and our ability to anticipate and develop new
services and enhance existing services to meet the demand of our
users or customers. For additional information on these and
other important factors that could adversely affect our business,
financial condition, results of operations, and prospects, please
see our filings with the U.S. Securities and Exchange
Commission.
All information provided in this press release and in the
attachments is as of the date of the press release. We undertake no
obligation to update any forward-looking statement, whether as a
result of new information, future events or otherwise, after the
date of this release, except as required by law. Such information
speaks only as of the date of this release.
Momo
Inc.
|
Unaudited
Condensed Consolidated Statement of
Operations
|
(US dollars in
thousands, except per share data)
|
|
Three
months
|
|
Year
|
ended December
31
|
|
ended December
31
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
Net
revenues:
|
|
|
|
|
|
|
|
Live video
service
|
194,840
|
|
327,995
|
|
376,925
|
|
1,102,592
|
Value-added
service
|
19,067
|
|
29,380
|
|
67,603
|
|
103,139
|
Mobile
marketing
|
19,730
|
|
21,830
|
|
66,339
|
|
76,178
|
Mobile
games
|
11,299
|
|
6,891
|
|
35,453
|
|
35,619
|
Other
services
|
1,182
|
|
260
|
|
6,778
|
|
743
|
Total net
revenues
|
246,118
|
|
386,356
|
|
553,098
|
|
1,318,271
|
Cost and
expenses:
|
|
|
|
|
|
|
|
Cost of
revenues
|
(110,219)
|
|
(200,196)
|
|
(241,463)
|
|
(649,275)
|
Research and
development
|
(7,733)
|
|
(18,760)
|
|
(31,399)
|
|
(51,491)
|
Sales and
marketing
|
(28,395)
|
|
(56,622)
|
|
(97,173)
|
|
(217,437)
|
General and
administrative
|
(11,357)
|
|
(17,711)
|
|
(38,983)
|
|
(62,581)
|
Total cost and
expenses
|
(157,704)
|
|
(293,289)
|
|
(409,018)
|
|
(980,784)
|
Other operating
(loss) income
|
(57)
|
|
14,008
|
|
406
|
|
23,379
|
Income from
operations
|
88,357
|
|
107,075
|
|
144,486
|
|
360,866
|
Interest
income
|
2,739
|
|
7,226
|
|
8,194
|
|
21,635
|
Impairment loss on
long-term investments
|
(5,459)
|
|
-
|
|
(5,765)
|
|
(4,386)
|
Income before
income tax and share of
income on equity method investments
|
85,637
|
|
114,301
|
|
146,915
|
|
378,115
|
Income tax
expenses
|
(3,182)
|
|
(19,047)
|
|
(5,136)
|
|
(65,980)
|
Income before
share of income on equity
method investments
|
82,455
|
|
95,254
|
|
141,779
|
|
312,135
|
Share of income on
equity method investments
|
1,328
|
|
2,026
|
|
3,471
|
|
5,889
|
Net
income
|
83,783
|
|
97,280
|
|
145,250
|
|
318,024
|
Less: net loss
attributable to non-controlling interest
|
-
|
|
(227)
|
|
-
|
|
(542)
|
Net income
attributable to Momo Inc.
|
83,783
|
|
97,507
|
|
145,250
|
|
318,566
|
Net income per share
attributable to ordinary
shareholders
|
|
|
|
|
|
|
|
Basic
|
0.22
|
|
0.25
|
|
0.38
|
|
0.81
|
Diluted
|
0.20
|
|
0.23
|
|
0.36
|
|
0.77
|
Weighted average
shares used in calculating
net income per ordinary share
|
|
|
|
|
|
|
|
Basic
|
388,567,606
|
|
397,753,884
|
|
377,335,923
|
|
394,549,323
|
Diluted
|
412,934,127
|
|
416,371,383
|
|
407,041,165
|
|
415,265,078
|
Momo
Inc.
|
Unaudited
Condensed Consolidated Statement of Comprehensive
Income
|
(US dollars in
thousands, except per share data)
|
|
|
Three
months
|
|
Year
|
ended December
31
|
|
ended December
31
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
Net
income
|
83,783
|
|
97,280
|
|
145,250
|
|
318,024
|
Other comprehensive
(loss) income, net of tax of nil
|
|
|
|
|
|
|
|
Foreign currency
translation adjustment
|
(8,337)
|
|
14,206
|
|
(11,642)
|
|
32,170
|
Comprehensive
income
|
75,446
|
|
111,486
|
|
133,608
|
|
350,194
|
Less: comprehensive
loss attributed to the non-
controlling interest
|
-
|
|
(172)
|
|
-
|
|
(494)
|
Comprehensive
income attributable to Momo Inc.
shareholders
|
75,446
|
|
111,658
|
|
133,608
|
|
350,688
|
Momo
Inc.
|
Unaudited
Condensed Consolidated Balance Sheets
|
( US dollars in
thousands)
|
|
|
|
|
|
December
31
|
|
December
31
|
2016
|
2017
|
Assets
|
|
|
|
Current
assets
|
|
|
|
Cash and cash
equivalents
|
257,564
|
|
685,827
|
Term
deposits
|
393,759
|
|
373,794
|
Accounts receivable,
net of allowance for doubtful
accounts of $nil and $90 as of December 31, 2016 and
2017, respectively
|
36,078
|
|
39,597
|
Prepaid expenses and
other current assets
|
32,592
|
|
82,717
|
Deferred tax assets,
current
|
72
|
|
-
|
Amount due from
related parties
|
88
|
|
5,143
|
Short-term
investment
|
-
|
|
1,614
|
Total current
assets
|
720,153
|
|
1,188,692
|
Property and
equipment, net
|
13,932
|
|
39,762
|
Intangible
assets
|
-
|
|
7,462
|
Rental
deposits
|
920
|
|
2,651
|
Long term
investments
|
31,932
|
|
44,337
|
Deferred tax assets,
non-current
|
208
|
|
7,197
|
Other non-current
assets
|
2,593
|
|
8,495
|
Goodwill
|
-
|
|
3,401
|
Total
assets
|
769,738
|
|
1,301,997
|
Liabilities and
equity
|
|
|
|
Current
liabilities
|
|
|
|
Accounts
payable
|
40,457
|
|
74,535
|
Deferred
revenue
|
41,277
|
|
64,865
|
Accrued expenses and
other current liabilities
|
39,965
|
|
87,809
|
Amount due to related
parties
|
8,117
|
|
5,804
|
Income tax
payable
|
3,881
|
|
27,033
|
Total current
liabilities
|
133,697
|
|
260,046
|
Deferred tax
liabilities, non-current
|
-
|
|
1,866
|
Other non-current
liabilities
|
2,022
|
|
2,305
|
Total
liabilities
|
135,719
|
|
264,217
|
Shareholder's equity
(Note a)
|
634,019
|
|
1,037,780
|
Total liabilities
and shareholder's equity
|
769,738
|
|
1,301,997
|
Note a: As of
December 31, 2017, the number of ordinary shares issued and
outstanding was 398,425,309.
|
Momo
Inc.
|
Unaudited
Condensed Consolidated Statement of Cash Flows
|
(US dollars in
thousands)
|
|
|
|
|
|
|
|
Three
months
|
|
Year
|
|
ended December
31
|
|
ended December
31
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
|
Net income
|
83,783
|
|
97,280
|
|
145,250
|
|
318,024
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
|
|
|
|
Depreciation of
property and equipment
|
2,156
|
|
3,917
|
|
8,404
|
|
11,722
|
Amortization of
intangible assets
|
-
|
|
262
|
|
-
|
|
714
|
Share-based
compensation
|
7,734
|
|
12,486
|
|
31,706
|
|
49,657
|
Share of income on
equity method investment
|
(1,328)
|
|
(2,026)
|
|
(3,471)
|
|
(5,889)
|
Impairment loss on
long-term investments
|
5,459
|
|
-
|
|
5,765
|
|
4,386
|
Impairment loss on
intangible assets
|
-
|
|
191
|
|
-
|
|
191
|
Loss on disposal of
property and equipment
|
9
|
|
19
|
|
15
|
|
17
|
Provision of allowance
for doubtful accounts
|
-
|
|
-
|
|
-
|
|
85
|
Changes in operating
assets and liabilities:
|
|
|
|
|
|
|
|
Accounts
receivable
|
(10,806)
|
|
(7,513)
|
|
(22,978)
|
|
(1,226)
|
Prepaid expenses and
other current assets
|
(6,558)
|
|
(22,779)
|
|
(15,634)
|
|
(45,824)
|
Amount due from
related parties
|
391
|
|
(3,924)
|
|
1,037
|
|
(4,943)
|
Rental
deposits
|
(96)
|
|
(123)
|
|
(304)
|
|
(1,590)
|
Deferred tax
assets
|
(284)
|
|
(6,863)
|
|
(284)
|
|
(6,790)
|
Other non-current
assets
|
-
|
|
1,077
|
|
-
|
|
(750)
|
Accounts
payable
|
11,280
|
|
(182)
|
|
32,019
|
|
25,778
|
Income tax
payable
|
3,946
|
|
13,840
|
|
3,946
|
|
22,683
|
Deferred
revenue
|
3,534
|
|
17,118
|
|
15,546
|
|
20,417
|
Accrued expenses and
other current liabilities
|
6,203
|
|
23,601
|
|
15,456
|
|
43,303
|
Amount due to related
parties
|
1,162
|
|
(6,342)
|
|
1,642
|
|
(2,496)
|
Deferred tax
liability
|
-
|
|
(52)
|
|
-
|
|
(145)
|
Other non-current
liabilities
|
658
|
|
(401)
|
|
196
|
|
283
|
Net cash provided
by operating activities
|
107,243
|
|
119,586
|
|
218,311
|
|
427,607
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
Purchase of property
and equipment
|
(2,040)
|
|
(13,033)
|
|
(7,026)
|
|
(32,314)
|
Proceeds from disposal
of property and equipment
|
24
|
|
-
|
|
63
|
|
8
|
Payment for long term
investments
|
(3,012)
|
|
(3,024)
|
|
(14,542)
|
|
(8,003)
|
Prepayment of long
term investments
|
(2,635)
|
|
(7,561)
|
|
(2,635)
|
|
(7,561)
|
Payment for acquired
intangible assets
|
-
|
|
-
|
|
-
|
|
(2,993)
|
Purchase of term
deposits
|
(129,734)
|
|
(72,683)
|
|
(509,612)
|
|
(592,432)
|
Cash received on
maturity of term deposits
|
50,091
|
|
133,473
|
|
415,404
|
|
617,566
|
Payment for short term
investments
|
-
|
|
(1,512)
|
|
-
|
|
(2,367)
|
Cash received from
sales of short term investment
|
-
|
|
786
|
|
-
|
|
786
|
Net cash (used in)
provided by investing activities
|
(87,306)
|
|
36,446
|
|
(118,348)
|
|
(27,310)
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
Proceeds from exercise
of options
|
25
|
|
103
|
|
333
|
|
564
|
Deferred payment of
purchase of property and equipment
|
-
|
|
-
|
|
(319)
|
|
(217)
|
Capital contribution
from non-controlling interest shareholder
|
-
|
|
-
|
|
-
|
|
73
|
Net cash provided
by financing activities
|
25
|
|
103
|
|
14
|
|
420
|
Effect of exchange
rate on cash and cash equivalents
|
(8,404)
|
|
12,973
|
|
(11,882)
|
|
27,546
|
Net increase
in cash and cash equivalents
|
11,558
|
|
169,108
|
|
88,095
|
|
428,263
|
Cash and cash
equivalent at beginning of period
|
246,006
|
|
516,719
|
|
169,469
|
|
257,564
|
Cash and cash
equivalent at end of period
|
257,564
|
|
685,827
|
|
257,564
|
|
685,827
|
Momo
Inc.
|
Reconciliation of
Non-GAAP financial measures to comparable GAAP
measures
|
(US dollars in
thousands, except per share data)
|
|
1. Reconciliation of Non-GAAP
cost and operating expenses, income from operations, and net income
to comparable GAAP
|
measures.
|
|
|
Three
months
|
|
Three
months
|
|
ended December 31,
2016
|
|
ended December 31,
2017
|
|
GAAP
|
|
Adjustments
|
|
Non-
|
|
GAAP
|
|
Adjustments
|
|
Non-
|
|
|
|
|
|
GAAP
|
|
|
|
|
|
GAAP
|
Cost and operating
expenses
|
(157,704)
|
|
7,734
(a)
|
|
(149,970)
|
|
(293,289)
|
|
12,486 (b)
|
|
(280,803)
|
Income from
operations
|
88,357
|
|
7,734 (a)
|
|
96,091
|
|
107,075
|
|
12,486 (b)
|
|
119,561
|
Net income
attributable to
Momo Inc.
|
83,783
|
|
7,734 (a)
|
|
91,517
|
|
97,507
|
|
12,486 (b)
|
|
109,993
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
|
|
Year
|
|
ended December 31,
2016
|
|
ended December 31,
2017
|
|
GAAP
|
|
Adjustments
|
|
Non-
|
|
GAAP
|
|
Adjustments
|
|
Non-
|
|
|
|
|
|
GAAP
|
|
|
|
|
|
GAAP
|
Cost and operating
expenses
|
(409,018)
|
|
31,706
(c)
|
|
(377,312)
|
|
(980,784)
|
|
49,657 (d)
|
|
(931,127)
|
Income from
operations
|
144,486
|
|
31,706
(c)
|
|
176,192
|
|
360,866
|
|
49,657 (d)
|
|
410,523
|
Net income
attributable to
Momo Inc.
|
145,250
|
|
31,706
(c)
|
|
176,956
|
|
318,566
|
|
49,657 (d)
|
|
368,223
|
Notes:
|
(a)
|
Adjustments to
exclude share-based compensation of $7,734 from the unaudited
condensed consolidated statements.
|
(b)
|
Adjustments to
exclude share-based compensation of $12,486 from the unaudited
condensed consolidated statements.
|
(c)
|
Adjustments to
exclude share-based compensation of $31,706 from the unaudited
condensed consolidated statements.
|
(d)
|
Adjustments to
exclude share-based compensation of $49,657 from the unaudited
condensed consolidated statements.
|
View original
content:http://www.prnewswire.com/news-releases/momo-announces-unaudited-financial-results-for-the-fourth-quarter-and-fiscal-year-2017-300609701.html
SOURCE Momo Inc.