BEIJING, Aug. 19, 2019 /PRNewswire/ -- Leju
Holdings Limited ("Leju" or the "Company") (NYSE: LEJU), a leading
online-to-offline ("O2O") real estate services provider in
China, today announced its
unaudited financial results for the fiscal quarter and half year
ended June 30, 2019.
Second Quarter 2019 Financial Highlights
- Total revenues increased by 39% year-on-year to $170.0 million.
-
- Revenues from e-commerce services increased by 51% year-on-year
to $132.4 million.
- Revenues from online advertising services increased by 8%
year-on-year to $37.2 million.
- Income from operations was $12.0
million, an increase of 20% from $10.0 million for the same quarter of 2018.
- Non-GAAP[1] income from operations was $15.7 million, an increase of 10% from
$14.3 million for the same quarter of
2018.
- Net income attributable to Leju Holdings Limited shareholders
was $9.4 million, or $0.07 per diluted American depositary share
("ADS"), compared to net loss attributable to Leju Holdings Limited
shareholders of $0.9 million, or
$0.01 loss per diluted ADS, for the
same quarter of 2018.
- Non-GAAP net income attributable to Leju Holdings Limited
shareholders was $12.3 million, or
$0.09 per diluted ADS, an increase of
388% from $2.5 million, or
$0.02 per diluted ADS, for the same
quarter of 2018.
First Half 2019 Financial Highlights
- Total revenues increased by 37% year-on-year to $280.4 million.
-
- Revenues from e-commerce services increased by 48% year-on-year
to $209.2 million.
- Revenues from online advertising services increased by 14%
year-on-year to $70.3 million.
- Loss from operations was $7.1
million, a decrease of 67% from loss from operations of
$21.5 million for the same period of
2018.
- Non-GAAP income from operations was $0.4
million, compared to non-GAAP loss from operations of
$12.8 million for the same period of
2018.
- Net loss attributable to Leju Holdings Limited shareholders was
$4.1 million, or $0.03 loss per diluted ADS, a decrease of 81%
from net loss attributable to Leju Holdings Limited shareholders of
$21.7 million, or $0.16 loss per diluted ADS for the same period of
2018.
- Non-GAAP net income attributable to Leju Holdings Limited
shareholders was $1.8 million, or
$0.01 per diluted ADS, compared to
non-GAAP net loss attributable to Leju Holdings Limited
shareholders of $14.7 million, or
$0.11 loss per diluted ADS for the
same period of 2018.
[1] Leju uses in
this press release the following non-GAAP financial measures: (1)
income (loss) from operations, (2) net income (loss), (3) net
income (loss) attributable to Leju shareholders, (4) net income
(loss) attributable to Leju shareholders per basic ADS, and (5) net
income (loss) attributable to Leju shareholders per diluted ADS,
each of which excludes share-based compensation expense,
amortization of intangible assets resulting from business
acquisitions and income tax impact on the share-based compensation
expense, amortization of intangible assets resulting from business
combinations. See "About Non-GAAP Financial Measures" and
"Unaudited Reconciliation of GAAP and Non-GAAP Results" below
for more information about the non-GAAP financial measures included
in this press release.
|
"We are pleased that Leju achieved solid growth in both revenue
and profit in the second quarter," said Mr. Geoffrey He, Leju's chief executive officer.
"Our e-commerce revenue was close to our all-time high this quarter benefiting
from the implementation of our top-down strategy, and we have
accumulated a strong project pipeline for the second half of 2019.
Leju's new media business also made great progress this quarter as
our stronger content production systems and multi-channel
networking operation model helped to improve our media
influence and keep our competitive advantage in the
market. In addition, we further optimized our operations and
management, which helped us generate positive cash inflow from
operations in the second quarter. Looking ahead, market uncertainty
may increase. We will continue our efforts to improve operational
efficiency and profitability while maintaining healthy top-line
growth."
Second Quarter 2019 Results
Total revenues were $170.0 million, an increase of 39% from
$122.7 million for the same quarter
of 2018, mainly due to an increase in revenues from e-commerce
services and online advertising services.
Revenues from e-commerce services were
$132.4 million, an increase of 51%
from $87.6 million for the same
quarter of 2018, primarily due to an increase in the number of
discount coupons redeemed, partially offset by a decrease in the
average price per discount coupon redeemed.
Revenues from online advertising services were
$37.2 million, an increase of 8% from
$34.4 million for the same quarter of
2018, primarily due to an increase in property developers' demand
for online advertising.
Revenues from listing services were
$0.4 million, a decrease of 40% from
$0.7 million for the same quarter of
2018, primarily due to a decrease in secondary real estate brokers'
demand.
Cost of revenues was $18.3 million, relatively flat compared to
$18.4 million for the same quarter of
2018.
Selling, general and administrative
expenses were $140.0
million, an increase of 48% from $94.7 million for the same quarter of 2018,
primarily due to increased marketing expenses related to the
Company's e-commerce business.
Income from operations was $12.0 million, an increase of 20% from
$10.0 million for the same
quarter of 2018. Non-GAAP income from
operations was $15.7
million, an increase of 10% from $14.3 million for the same quarter of 2018.
Net income was $9.6
million, compared to net loss of $1.0 million for the
same quarter of 2018. Non-GAAP net income was
$12.6 million, an increase of 420%
from $2.4 million for the same
quarter of 2018.
Net income attributable to Leju Holdings Limited
shareholders was $9.4
million, or $0.07 per diluted
ADS, compared to net loss attributable to Leju Holdings Limited
shareholders of $0.9 million, or
$0.01 loss per diluted ADS, for the
same quarter of 2018. Non-GAAP net income attributable to
Leju Holdings Limited shareholders was $12.3 million, or $0.09 per diluted ADS, an increase of 388% from
$2.5 million, or $0.02 per diluted ADS, for the same quarter of
2018.
First Half 2019 Results
Total revenues were $280.4 million, an increase of 37% from
$204.2 million for the same period of
2018, mainly due to an increase in revenues from e-commerce
services and online advertising services.
Revenues from e-commerce services were
$209.2 million, an increase of 48%
from $141.0 million for the same
period of 2018, primarily due to an increase in the number of
discount coupons redeemed, partially offset by a decrease in the
average price per discount coupon redeemed.
Revenues from online advertising services were
$70.3 million, an increase of 14%
from $61.5 million for the same
period of 2018, primarily due to an increase in property
developers' demand for online advertising.
Revenues from listing services were
$0.9 million, a decrease of 49% from
$1.7 million for the same period of
2018, primarily due to a decrease in secondary real estate brokers'
demand.
Cost of revenues was $41.8 million, an increase of 13% from
$37.1 million for the same period of
2018, primarily due to increased cost of advertising resources
purchased from media platforms.
Selling, general and administrative
expenses were $246.0
million, an increase of 30% from $189.9 million for the same period of 2018,
primarily due to increased marketing expenses related to the
Company's e-commerce business.
Loss from operations was $7.1 million, a decrease of 67% from loss from
operations of $21.5 million for the
same period of 2018. Non-GAAP income from
operations was $0.4
million, compared to non-GAAP loss from operations of
$12.8 million for the same period of
2018.
Net loss was $3.9
million, a decrease of 82% from net loss of $22.3 million for the same period of 2018.
Non-GAAP net income was $2.0
million, compared to non-GAAP net loss of $15.2 million for the same period of 2018.
Net loss attributable to Leju Holdings
Limited shareholders was $4.1
million, or $0.03 loss per
diluted ADS, a decrease of 81% from net loss attributable to Leju
Holdings Limited shareholders of $21.7
million, or $0.16 loss per
diluted ADS for the same period of 2018. Non-GAAP net income
attributable to Leju Holdings Limited shareholders was
$1.8 million, or $0.01 per diluted ADS, compared to non-GAAP net
loss attributable to Leju Holdings Limited shareholders of
$14.7 million, or $0.11 loss per diluted ADS for the same period of
2018.
Cash Flow
As of June 30, 2019, the Company's
cash and cash equivalents balance was $166.6
million.
Second quarter 2019 net cash provided by operating activities
was $32.5 million, primarily
comprised of non-GAAP net income of $12.6
million, a decrease in customer deposits of $7.1 million, an increase in accrued marketing
and advertising expenses and other current liabilities of
$9.7 million, an increase in amounts
due to related parties of $5.9
million, an increase in advance from customer of
$5.6 million, and an increase in
income tax payable and other tax payable of 3.3 million, partially
offset by an increase in accounts receivable and contract assets of
$13.5 million.
Business Outlook
The Company estimates that its total revenues for the third
quarter of 2019 will be approximately $170 million to
$180 million, which would represent an increase of
approximately 27% to 35% from
$133.6 million in the same quarter in
2018. This forecast reflects the Company's current and preliminary
view, which is subject to change.
Conference Call Information
Leju's management will host an earnings conference call on
August 19, 2019 at 7 a.m. U.S. Eastern Time (7 p.m. Beijing/Hong
Kong time).
Dial-in details for the earnings conference call are as
follows:
U.S./International:
|
+1-845-675-0437
|
Hong Kong:
|
+852-3018-6771
|
Mainland China:
|
400-620-8038
|
|
|
Please dial in 10 minutes before the call is scheduled to begin
and provide the passcode to join the call. The passcode is "Leju
earnings call".
A replay of the conference call may be accessed by phone at the
following number until August 27,
2019:
U.S./International:
|
+1-855-452-5696
|
Hong Kong:
|
800-963-117
|
Mainland China:
|
400-632-2162
|
Passcode:
|
4069729
|
|
|
Additionally, a live and archived webcast will be available at
http://ir.leju.com.
About Leju
Leju Holdings Limited ("Leju") (NYSE: LEJU) is a leading
online-to-offline, or O2O, real estate services provider in
China, offering real estate
e-commerce, online advertising and online listing services. Leju's
integrated online platform comprises various mobile applications
along with local websites covering more than 370 cities, enhanced
by complementary offline services to facilitate residential
property transactions. In addition to the Company's own websites,
Leju operates the real estate and home furnishing websites of SINA
Corporation, and maintains a strategic partnership with
Tencent Holdings Limited. For more
information about Leju, please visit http://ir.leju.com.
Safe Harbor: Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"going forward," "outlook" and similar statements. Leju may also
make written or oral forward-looking statements in its reports
filed or furnished with the U.S. Securities and Exchange
Commission, 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 Leju's beliefs
and expectations, are forward-looking statements that involve
inherent risks and uncertainties. A number of important factors
could cause actual results to differ materially from those
contained, either expressly or impliedly, in any of the
forward-looking statements. Such factors include, but are not
limited to, fluctuations in China's real estate market;
the highly regulated nature of, and government measures affecting,
the real estate and internet industries in China; Leju's
ability to compete successfully against current and future
competitors; its ability to continue to develop and expand its
content, service offerings and features, and to develop or
incorporate the technologies that support them; its limited
operating history and lack of experience as a stand-alone public
company, given its carve-out from E-House and prior reliance on
E-House for various corporate services; its reliance on SINA and
others with which it has developed, or may develop in the future,
strategic partnerships; substantial revenue contribution from a
limited number of real estate markets; complexities resulting from
its ongoing relationships with E-House, due to E-House's status as
a principal shareholder of Leju; and relevant government policies
and regulations relating to the corporate structure, business and
industry of Leju. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. All
information provided in this press release is current as of the
date of the press release, and the Company does not undertake any
obligation to update any forward-looking statement as a result of
new information, future events or otherwise, except as required
under applicable law.
About Non-GAAP Financial Measures
To supplement Leju's consolidated financial results presented in
accordance with United States Generally Accepted Accounting
Principles ("GAAP"), Leju uses in this press release the following
non-GAAP financial measures: (1) income (loss) from operations, (2)
net income (loss), (3) net income (loss) attributable to Leju
shareholders, (4) net income (loss) attributable to Leju
shareholders per basic ADS, and (5) net income (loss) attributable
to Leju shareholders per diluted ADS, each of which excludes
share-based compensation expense, amortization of intangible assets
resulting from business acquisitions, and income tax impact on the
share-based compensation expense and amortization of intangible
assets resulting from business combinations. 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 GAAP. For more
information on these non-GAAP financial measures, please see the
table captioned "Unaudited Reconciliation of GAAP and Non-GAAP
Results" set forth at the end of this press release.
Leju believes that these non-GAAP financial measures provide
meaningful supplemental information to investors regarding its
operating performance by excluding share-based compensation expense
and amortization of intangible assets resulting from business
acquisitions, which may not be indicative of Leju's operating
performance. These non-GAAP financial measures also facilitate
management's internal comparisons to Leju's historical performance
and assist its financial and operational decision making. A
limitation of using these non-GAAP financial measures is that
share-based compensation expense and amortization of intangible
assets resulting from business acquisitions may continue to exist
in Leju's business for the foreseeable future. Management
compensates for these limitations by providing specific information
regarding the GAAP amounts excluded from each non-GAAP measure. The
accompanying tables provide more details on the reconciliation
between non-GAAP financial measures and their most comparable GAAP
financial measures.
For investor and media inquiries please contact:
Ms. Christina Wu
Leju Holdings Limited
Phone: +86 (10) 5895-1062
E-mail: ir@leju.com
Philip Lisio
Foote Group
Phone: +86 135-0116-6560
E-mail: phil@thefootegroup.com
LEJU HOLDINGS
LIMITED
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands of
U.S. dollars)
|
|
|
|
December
31,
|
June
30,
|
|
ASSETS
|
|
|
2018
|
|
|
2019
|
|
|
Current
assets
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
147,263
|
|
|
166,613
|
|
|
Accounts receivable,
net
|
|
|
102,697
|
|
|
122,804
|
|
|
Contract
assets
|
|
|
2,137
|
|
|
1,303
|
|
|
Marketable
securities
|
|
|
2,467
|
|
|
3,327
|
|
|
Prepaid expenses and
other current assets
|
|
|
8,621
|
|
|
8,871
|
|
|
Customer
deposits
|
|
|
10,672
|
|
|
2,195
|
|
|
Amounts due from
related parties
|
|
|
6,695
|
|
|
7,573
|
|
|
Total current
assets
|
|
|
280,552
|
|
|
312,686
|
|
|
Property and
equipment, net
|
|
|
14,058
|
|
|
17,865
|
|
|
Intangible assets,
net
|
|
|
57,401
|
|
|
51,177
|
|
|
Right-of-use
assets[2]
|
|
|
—
|
|
|
33,795
|
|
|
Investment in
affiliates
|
|
|
63
|
|
|
37
|
|
|
Deferred tax
assets
|
|
|
62,356
|
|
|
62,252
|
|
|
Other non-current
assets
|
|
|
2,297
|
|
|
1,390
|
|
|
Total
assets
|
|
|
416,727
|
|
|
479,202
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
|
803
|
|
|
2,062
|
|
|
Accrued payroll and
welfare expenses
|
|
|
30,628
|
|
|
30,637
|
|
|
Income tax
payable
|
|
|
58,030
|
|
|
56,230
|
|
|
Other tax
payable
|
|
|
12,675
|
|
|
15,422
|
|
|
Amounts due to
related parties
|
|
|
3,477
|
|
|
14,626
|
|
|
Advance from
customers
|
|
|
26,873
|
|
|
34,899
|
|
|
Lease liabilities,
current[2]
|
|
|
—
|
|
|
6,478
|
|
|
Accrued marketing and
advertising expenses
|
|
|
14,896
|
|
|
18,149
|
|
|
Other current
liabilities
|
|
|
12,999
|
|
|
20,030
|
|
|
Total current
liabilities
|
|
|
160,381
|
|
|
198,533
|
|
|
Lease liabilities,
non-current[2]
|
|
|
—
|
|
|
27,570
|
|
|
Deferred tax
liabilities
|
|
|
14,780
|
|
|
14,755
|
|
|
Total
liabilities
|
|
|
175,161
|
|
|
240,858
|
|
|
Shareholders'
Equity
|
|
|
|
|
|
|
|
|
Ordinary shares
($0.001 par value): 1,000,000,000 shares
authorized, 135,763,962 and 135,763,962 shares issued
and outstanding, as of December 31, 2018 and June 30,
2019,
respectively
|
|
|
136
|
|
|
136
|
|
|
Additional paid-in
capital
|
|
|
792,626
|
|
|
793,798
|
|
|
Accumulated
deficit
|
|
|
(528,825))
|
|
|
(532,964)
|
|
|
Accumulated other
comprehensive loss
|
|
|
(19,848)
|
|
|
(20,319)
|
|
|
Total Leju Holdings
Limited shareholders' equity
|
|
|
244,089
|
|
|
240,651
|
|
|
Non-controlling
interests
|
|
|
(2,523)
|
|
|
(2,307)
|
|
|
Total
equity
|
|
|
241,566
|
|
|
238,344
|
|
|
TOTAL LIABILITIES
AND EQUITY
|
|
|
416,727
|
|
|
479,202
|
|
|
|
|
|
|
|
|
|
|
|
|
[2] In February 2016,
the FASB issued ASU 2016-02, Leases (Topic 842), which requires
lessees to recognize a right-of-use asset and lease liability on
their balance sheet for all leases with a term of more than 12
months. The Group adopted this ASU on January 1, 2019 using the
modified retrospective approach and the financial statements for
the comparative period has not been restated.
|
LEJU HOLDINGS
LIMITED
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands of
U.S. dollars, except share data and per share data)
|
|
|
|
|
|
|
|
Three months
ended
|
|
Six months
ended
|
|
|
June
30,
|
|
June
30,
|
|
|
2018
|
|
2019
|
|
2018
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
E-commerce
|
|
|
87,571
|
|
|
|
132,365
|
|
|
|
141,041
|
|
|
|
209,214
|
|
Online advertising
services
|
|
|
34,361
|
|
|
|
37,153
|
|
|
|
61,491
|
|
|
|
70,332
|
|
Listing
services
|
|
|
744
|
|
|
|
447
|
|
|
|
1,667
|
|
|
|
852
|
|
Total
revenues
|
|
|
122,676
|
|
|
|
169,965
|
|
|
|
204,199
|
|
|
|
280,398
|
|
Cost of
revenues
|
|
|
(18,405)
|
|
|
|
(18,293)
|
|
|
|
(37,080)
|
|
|
|
(41,831)
|
|
Selling, general and
administrative expenses
|
|
|
(94,749)
|
|
|
|
(140,040)
|
|
|
|
(189,927)
|
|
|
|
(246,017)
|
|
Other operating
income
|
|
|
478
|
|
|
|
346
|
|
|
|
1,308
|
|
|
|
368
|
|
Income (loss) from
operations
|
|
|
10,000
|
|
|
|
11,978
|
|
|
|
(21,500)
|
|
|
|
(7,082)
|
|
Interest
income
|
|
|
272
|
|
|
|
202
|
|
|
|
559
|
|
|
|
585
|
|
Other income (loss),
net
|
|
|
(5,209)
|
|
|
|
696
|
|
|
|
(2,372)
|
|
|
|
1,293
|
|
Income (loss)
before taxes and loss from equity
in affiliates
|
|
|
5,063
|
|
|
|
12,876
|
|
|
|
(23,313)
|
|
|
|
(5,204)
|
|
Income tax
benefits/(expenses)
|
|
|
(6,024)
|
|
|
|
(3,232)
|
|
|
|
1,093
|
|
|
|
1,307
|
|
Income (loss)
before loss from equity in affiliates
|
|
|
(961)
|
|
|
|
9,644
|
|
|
|
(22,220)
|
|
|
|
(3,897)
|
|
Loss from equity in
affiliates
|
|
|
(32)
|
|
|
|
(14)
|
|
|
|
(51)
|
|
|
|
(26)
|
|
Net income
(loss)
|
|
|
(993
(993))
|
|
|
|
9,630
|
|
|
|
(22,271)
|
|
|
|
(3,923)
|
|
Less: net income
(loss) attributable to non-controlling interests
|
|
|
(109)
|
|
|
|
278
|
|
|
|
(525)
|
|
|
|
216
|
|
Income (loss)
attributable to Leju Holdings
Limited shareholders
|
|
|
(884)
|
|
|
|
9,352
|
|
|
|
(21,746)
|
|
|
|
(4,139)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per
ADS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
(0.01)
|
|
|
|
0.07
|
|
|
|
(0.16)
|
|
|
|
(0.03)
|
|
Diluted
|
|
|
(0.01)
|
|
|
|
0.07
|
|
|
|
(0.16)
|
|
|
|
(0.03)
|
|
Shares used in
computation of earnings (loss) per ADS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
135,763,962
|
|
|
|
135,763,962
|
|
|
|
135,763,962
|
|
|
|
135,763,962
|
|
Diluted
|
|
|
135,763,962
|
|
|
|
135,769,776
|
|
|
|
135,763,962
|
|
|
|
135,763,962
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The conversion of
functional currency Renminbi ("RMB") amounts into reporting
currency USD amounts is based on the rate of USD1 = RMB6.8747 on
June 30, 2019 and USD1 = RMB6.8005 for the six months ended June
30, 2019.
|
LEJU HOLDINGS
LIMITED
UNAUDITED
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(LOSS)
(In
thousands of U.S. dollars)
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
|
Six months
ended
|
|
|
June
30,
|
|
|
June
30,
|
|
|
2018
|
|
2019
|
|
2018
|
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
|
(993)
|
|
|
|
9,630
|
|
|
|
(22,271)
|
|
|
|
|
(3,923)
|
|
Other comprehensive
loss, net of tax of nil
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustment
|
|
|
(2,982)
|
|
|
|
(3,805)
|
|
|
|
(773)
|
|
|
|
|
(471)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
income (loss)
|
|
|
(3,975)
|
|
|
|
5,825)
|
|
|
|
(23,044)
|
|
|
|
|
(4,394)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Comprehensive
income (loss) attributable to
non-controlling interest
|
|
|
38
|
|
|
|
311
|
|
|
|
(480)
|
|
|
|
|
216
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
income (loss) attributable to Leju
Holdings Limited
shareholders
|
|
|
(4,013)
|
|
|
|
5,514
|
|
|
|
(22,564)
|
|
|
|
|
(4,610)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LEJU HOLDINGS
LIMITED
Unaudited
Reconciliation of GAAP and Non-GAAP Results
(In thousands of
U.S. dollars, except share data and per ADS data)
|
|
|
|
|
|
|
|
Three months
ended
|
|
Six months
ended
|
|
|
June
30,
|
|
June
30,
|
|
|
2018
|
|
2019
|
|
2018
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP income (loss)
from operations
|
|
|
10,000
|
|
|
|
11,978
|
|
|
(21,500)
|
|
|
(7,082)
|
|
Share-based
compensation expense
|
|
|
1,056
|
|
|
|
596
|
|
|
2,035
|
|
|
1,171
|
|
Amortization of
intangible assets resulting from business
acquisitions
|
|
|
3,205
|
|
|
|
3,153
|
|
|
6,655
|
|
|
6,306
|
|
Non-GAAP income
(loss) from operations
|
|
|
14,261
|
|
|
|
15,727
|
|
|
(12,810)
|
|
|
395
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss)
|
|
|
(993)
|
|
|
|
9,630
|
|
|
(22,271)
|
|
|
(3,923)
|
|
Share-based
compensation expense
|
|
|
1,056
|
|
|
|
596
|
|
|
2,035
|
|
|
1,171
|
|
Amortization of
intangible assets resulting from
business
acquisitions
|
|
|
3,205
|
|
|
|
3,153
|
|
|
6,655
|
|
|
6,306
|
|
Income tax
benefit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Deferred[3]
|
|
|
(847)
|
|
|
|
(788)
|
|
|
(1,664)
|
|
|
(1,576)
|
|
Non-GAAP net
income (loss)
|
|
|
2,421
|
|
|
|
12,591
|
|
|
(15,245)
|
|
|
1,978
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to Leju Holdings Limited
shareholder
|
|
|
(884)
|
|
|
|
9,352
|
|
|
(21,746)
|
|
|
(4,139)
|
|
Share-based
compensation expense (net of non-controlling
interests)
|
|
|
1,048
|
|
|
|
596
|
|
|
2,019
|
|
|
1,171
|
|
Amortization of
intangible assets resulting from business
acquisitions (net of non-controlling interests)
|
|
|
3,205
|
|
|
|
3,153
|
|
|
6,655
|
|
|
6,306
|
|
Income tax
benefit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Deferred
|
|
|
(847)
|
|
|
|
(788)
|
|
|
(1,664)
|
|
|
(1,576)
|
|
Non-GAAP net
income (loss) attributable to Leju
Holdings Limited shareholders
|
|
|
2,522
|
|
|
|
12,313
|
|
|
(14,736)
|
|
|
1,762
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss) per ADS — basic
|
|
|
(0.01)
|
|
|
|
0.07
|
|
|
(0.16)
|
|
|
(0.03)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss) per ADS — diluted
|
|
|
(0.01)
|
|
|
|
0.07
|
|
|
(0.16)
|
|
|
(0.03)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
(loss) per ADS — basic
|
|
|
0.02
|
|
|
|
0.09
|
|
|
(0.11)
|
|
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
(loss) per ADS — diluted
|
|
|
0.02
|
|
|
|
0.09
|
|
|
(0.11)
|
|
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
calculating basic GAAP / non-GAAP net
income (loss) attributable to shareholders per ADS
|
|
|
135,763,962
|
|
|
|
135,763,962
|
|
|
135,763,962
|
|
|
135,763,962
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
calculating diluted GAAP net income (loss)
attributable to shareholders per ADS
|
|
|
135,763,962
|
|
|
|
135,769,776
|
|
|
135,763,962
|
|
|
135,763,962
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
calculating diluted non-GAAP net income
(loss) attributable to shareholders per
ADS
|
|
|
135,763,962
|
|
|
|
135,769,776
|
|
|
135,763,962
|
|
|
135,766,869
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[3] Amount
represents the realization of deferred tax liabilities recognized
for the temporary difference between the tax basis of intangible
assets recognized from acquisitions and their reported amounts in
the financial statements. The income tax impact on the share-based
compensation expense is nil.
|
LEJU HOLDINGS
LIMITED
SELECTED OPERATING
DATA
|
|
|
|
Three months
ended
|
|
Six months
ended
|
|
|
June
30,
|
|
June
30,
|
|
|
2018
|
|
2019
|
|
2018
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating data for
e-commerce services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of discount
coupons issued to
prospective purchasers (number of
transactions)
|
|
|
58,252
|
|
|
|
64,820
|
|
|
|
77,930
|
|
|
|
94,369
|
|
Number of discount
coupons redeemed (number
of transactions)
|
|
|
20,888
|
|
|
|
36,235
|
|
|
|
34,687
|
|
|
|
55,794
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View original
content:http://www.prnewswire.com/news-releases/leju-reports-second-quarter-and-half-year-2019-results-300903402.html
SOURCE Leju Holdings Limited