BEIJING, Dec. 9, 2019 /PRNewswire/ -- Jianpu Technology
Inc. ("Jianpu," or the "Company") (NYSE: JT), a leading
independent open platform for discovery and recommendation of
financial products in China, today
announced its unaudited financial results for the third quarter
ended September 30, 2019.
Third Quarter 2019 Operational and Financial
Highlights:
- Credit card volume for recommendation services[1]
was approximately 1.8 million in the third quarter of 2019,
representing an increase of approximately 5.9% from the same period
of 2018. The average fee per credit card for recommendation
services increased to RMB109.22
(US$[2]15.28) in the third quarter of 2019 from
RMB106.10 in the same period of 2018.
As a result, revenues from recommendation services for credit cards
increased by 6.6% to RMB195.6 million
(US$27.4 million) in the third
quarter of 2019 from RMB183.5 million
in the same period of 2018.
- Gross margin improved to 91.7% in the third quarter of 2019
from 89.3% in the same period of 2018.
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[1] Credit
card volume for recommendation services is the measure of the
number of credit cards the Company generates revenues during the
period presented for recommendation services.
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[2] This
announcement contains translations of certain RMB amounts into U.S.
dollars at a specified rate solely for the convenience of the
reader. Unless otherwise noted, all translations from RMB to U.S.
dollars are made at a rate of RMB7.1477 to US$1.00, the rate in
effect as of September 30, 2019 as certified for customs purposes
by the Federal Reserve Bank of New York.
|
First Nine Months 2019 Operational and Financial
Highlights:
- Credit card volume for recommendation services was
approximately 5.0 million in the first nine months of 2019,
representing an increase of approximately 8.7% from the same period
of 2018. The average fee per credit card for recommendation
services increased to RMB108.05
(US$15.12) in the first nine months
of 2019 from RMB101.31 in the same
period of 2018. As a result, revenues from recommendation services
for credit cards in the first nine months of 2019 increased by
17.2% to RMB541.4 million
(US$75.7 million) from RMB461.8 million in the same period of 2018.
- Total revenues for the first nine months of 2019 increased by
5.6% to RMB1,340.6 million
(US$187.6 million) from RMB1,269.7 million in the same period of
2018.
- Total recommendation services revenues for the first nine
months of 2019 increased by 5.5% to RMB1,167.7 million (US$163.4 million) from RMB1,107.1 million in the same period of
2018.
- Revenues from advertising and marketing services and other
services for the first nine months of 2019 increased by 6.3% to
RMB172.9 million (US$24.2 million) from RMB162.6 million in the same period of 2018.
- Gross margin improved to 92.0% in the first nine months of 2019
from 87.7% in the same period of 2018.
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Selected
Operational Metrics
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For the three
months ended
September 30,
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For the nine
months ended
September
30,
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2018
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2019
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Change%
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2018
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2019
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Change%
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Credit card volume
for
recommendation
services[1] (in
million)
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1.7
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1.8
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5.9%
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4.6
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5.0
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8.7%
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The average fee
per credit card for
recommendation services (RMB)
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106.10
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109.22
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2.9%
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101.31
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108.05
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6.7%
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Number of loan
applications (in
million)
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13.3
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5.3
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-60.2%
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46.6
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35.4
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-24.0%
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The average fee
per loan application
(RMB)
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14.50
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17.05
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17.6%
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13.85
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17.69
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27.7%
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Mr. David Ye, Co-founder,
Chairman and Chief Executive Officer of Jianpu, commented, "Amidst
the challenging macro economic environment and the uncertainties in
China's retail financial services
industry, we have beaten our guidance in past quarter and, as a
result, achieved and exceeded our guidance in the past nine
consecutive quarters since our IPO. Jianpu continues to be a leader
of transformation across the landscape of China's rapidly evolving retail financial
services industry as our mission to become everyone's financial
partner remains intact. Despite some short-term impacts across our
business, our credit card recommendation business remained
resilient with a 5.9% increase in the volume and a 6.6% increase in
the revenue on a year-over-year basis, affirming our leadership in
enabling banks, credit card issuers and other licensed NBFCs."
"We believe that putting more clarity in regulation is creating
a healthier and more sustainable environment within China's retail financial eco-system that will
benefit the players carrying higher compliance standards. At the
same time, we continued our efforts and investment in technology
advancement and new business initiatives, better positioned
ourselves to capture medium to long term growth potentials in the
digital financial services sector," concluded Mr. Ye.
"Our performance in the third quarter reflected our diligent
effort to navigate the turbulent operating environment. Through our
continuing efforts, the revenues from banks and other licensed
financial institutions remained resilient and accounted for a
larger percentage in terms of revenue contribution," said Mr.
Oscar Chen, Chief Financial Officer
of Jianpu. "Characterized by the macro slowdown and industry
volatility, we are well aligned with the consumer demand for
personalized financial services, leveraging our core capability to
fulfill that demand normalized within the evolving regulatory
framework that is meant to standardize online retail financial
services and protect consumers. Going forward, with the healthy
growth of gross margin improved to 91.7% in the third quarter of
2019 from 89.3% in the same period of 2018, we strive to continue
our balanced strategy to set the foundation for sustainable
operation."
Third Quarter 2019 Financial Results
Total revenues for the third quarter of 2019 decreased by
27.1% to RMB323.5 million
(US$45.3 million) from RMB443.7 million in the same period of 2018.
Total revenues from recommendation services decreased
by 24.1% to RMB285.9 million
(US$40.0 million) in the third
quarter of 2019 from RMB376.9 million
in the same period of 2018.
Revenues from recommendation services for credit cards
increased by 6.6% to RMB195.6 million
(US$27.4 million) in the third
quarter of 2019 from RMB183.5 million
in the same period of 2018, due to the increase in both credit card
volume and average fee per credit card. Credit card volume for
recommendation services1 in the third quarter of 2019 was
approximately 1.8 million, representing an increase of
approximately 5.9% from the same period of 2018. The average fee
per credit card for recommendation services increased to
RMB109.22 (US$15.28) in the third quarter of 2019 from
RMB106.10 in the same period of
2018.
Revenues from recommendation services for loans decreased
by 53.3% to RMB90.3 million
(US$12.6 million) in the third
quarter of 2019 from RMB193.3 million
in the same period of 2018, due to the decrease in number of loan
applications on the Company's platform. The number of loan
applications on the Company's platform was approximately 5.3
million in the third quarter of 2019, representing a decrease of
approximately 60.2% from the same period of 2018. The decrease was
mainly attributable to the decrease of number of financial products
available on our platform given the recent credit tightening and
change of industry dynamics. The average fee per loan application
increased to RMB17.05 (US$2.39) in the third quarter of 2019 from
RMB14.50 in the same period of
2018.
Revenues from advertising and marketing services and other
services decreased by 43.8% to RMB37.6
million (US$5.3 million) in
the third quarter of 2019 from RMB66.9
million in the same period of 2018, since the Company slowed
down the pace of certain advertising business given the lower
efficiency amidst challenging macroeconomic environment.
Cost of revenues decreased by 43.0% to RMB27.0 million (US$3.8
million) in the third quarter of 2019 from RMB47.4 million in the same period of 2018. The
decrease was primarily attributable to the decrease in direct costs
relating to advertising and marketing services revenue.
Gross profit decreased by 25.2% to RMB296.5 million (US$41.5
million) in the third quarter of 2019 from RMB396.4 million in the same period of 2018. The
decrease was primarily attributable to revenue decline. Gross
margin was 91.7% in the third quarter of 2019, compared with 89.3%
in the same period of 2018.
Sales and marketing expenses decreased by 4.6% to
RMB325.3 million (US$45.5 million) in the third quarter of 2019
from RMB341.0 million in the same
period of 2018. The decrease was mainly due to decrease in traffic
acquisition costs, partially offset by increase in rewards to
business partners for promotion in social network and social media
platform.
Research and development expenses increased by 4.7% to
RMB66.5 million (US$9.3 million) in the third quarter of 2019 from
RMB63.5 million in the same period of
2018, primarily due to the increase in payroll costs incurred for
R&D efforts related to new business initiatives.
General and administrative expenses decreased by 36.8% to
RMB30.6 million (US$4.3 million) in the third quarter of 2019 from
RMB48.4 million in the same period of
2018. The decrease was primarily due to the decrease in recognition
of share-based compensation expenses.
Share-based compensation expenses recognized in cost of
revenues, sales and marketing expenses, research and development
expenses and general and administrative expenses in total were
RMB16.4 million (US$2.3 million) in the third quarter of 2019 and
RMB33.7 million in the same period of
2018. The decrease was due to graded vesting method used and less
share-based awards granted in this quarter.
Impairment loss primarily reflects the impairment
of the goodwill and intangible assets related to a subsidiary
acquired in 2018 due to adverse development of its business and
change of the relevant industry background and market
conditions.
Income tax benefits were RMB15.5
million (US$2.2 million) in
the third quarter of 2019, compared with RMB0.4 million in the same period of 2018. The
increase was primarily due to release of the deferred tax
liabilities of RMB14.9 million
related to the impairment charged for intangible assets associated
with a subsidiary acquired in prior year .
Net loss was RMB352.5
million (US$49.3 million) in
the third quarter of 2019, compared with a net loss of RMB53.5 million in the same period of 2018. The
increase of net loss was primarily due to the impairment loss
charged in this quarter.
Non-GAAP adjusted net loss, which excluded share-based
compensation expenses, impairment loss and tax effects on non-GAAP
adjustments from net loss, was RMB100.7
million (US$14.1 million) in
the third quarter of 2019, compared with adjusted net loss of
RMB19.8 million in the same period of
2018.
Non-GAAP adjusted EBITDA[3], which
excluded share-based compensation expenses, impairment loss,
depreciation and amortization, interest income and expenses, and
income tax benefits from net loss, was a loss of RMB92.9 million (US$13.0
million) in the third quarter of 2019, compared with a loss
of RMB12.6 million in the same period
of 2018.
As of September 30, 2019, the
Company had cash and cash equivalents, restricted cash and time
deposits of RMB1,100.3 million
(US$153.9 million), and working
capital of approximately RMB1,106.2
million (US$154.8 million).
Compared to as of June 30, 2019, cash
and cash equivalents, restricted cash and time deposits decreased
by RMB18.8 million (US$2.6 million), which was mainly attributable to
net cash used in operations.
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[3]
Non-GAAP adjusted EBITDA represents EBITDA before share-based
compensation expenses and impairment loss. EBITDA represents net
(loss)/income before interest, tax, depreciation and amortization.
See "Unaudited Reconciliations of GAAP and Non-GAAP Results" for
more details.
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First Nine Months 2019 Financial Results
Total revenues for the first nine months of 2019
increased by 5.6% to RMB1,340.6
million (US$187.6 million)
from RMB1,269.7 million in the same
period of 2018.
Total revenues from recommendation services increased
by 5.5% to RMB1,167.7 million
(US$163.4 million) in the first nine
months of 2019 from RMB1,107.1
million in the same period of 2018.
Revenues from recommendation
services for credit cards increased by 17.2% to RMB541.4 million (US$75.7
million) in the first nine months of 2019 from RMB461.8 million in the same period of 2018, due
to the increase in both credit card volume and average fee per
credit card. Credit card volume for recommendation
services[1] in the first nine months of 2019 was
approximately 5.0 million, representing an increase of
approximately 8.7% from the same period of 2018. The average fee
per credit card for recommendation services increased to
RMB108.05 (US$15.12) in the first nine months of 2019 from
RMB101.31 in the same period of
2018.
Revenues from recommendation
services for loans decreased by 2.9% to RMB626.3 million (US$87.6
million) in the first nine months of 2019 from RMB645.3 million in the same period of 2018, due
to the decrease in number of loan applications on the Company's
platform. The number of loan applications on the Company's platform
was approximately 35.4 million in the first nine months of 2019,
representing a decrease of approximately 24.0% from the same period
of 2018. The average fee per loan application increased to
RMB17.69 (US$2.47) in the first nine months of 2019 from
RMB13.85 in the same period of
2018.
Revenues from advertising and marketing services and other
services increased by 6.3% to RMB172.9
million (US$24.2 million) in
the first nine months of 2019 from RMB162.6
million in the same period of 2018, primarily due to the
increase in revenues from big data and risk management services,
which was partially offset by the decrease in the advertising and
marketing services.
Cost of revenues decreased by 31.1% to RMB107.3 million (US$15.0
million) in the first nine months of 2019 from RMB155.8 million in the same period of 2018. The
decrease was primarily attributable to the direct costs
relating to advertising and marketing services revenue, partially
offset by the increase of data acquisition costs, depreciation
costs and bandwidth and server hosting costs.
Gross profit increased by 10.7% to RMB1,233.3 million (US$172.5 million) in the first nine months of
2019 from RMB1,114.0 million in the
same period of 2018. The increase was primarily attributable to
revenue growth and increase in gross margin. Gross margin was
92.0% in the first nine months of 2019, compared with 87.7% in
the same period of 2018.
Sales and marketing expenses increased by 7.0% to
RMB1,091.9 million (US$152.8 million) in the first nine months of
2019 from RMB1,020.9 million in the
same period of 2018. The increase was mainly due to the growth in
rewards to business partners for promotion in social network and
social media platform, partially offset by the decrease in traffic
acquisition cost.
Research and development expenses increased by 39.2% to
RMB222.1 million (US$31.1 million) in the first nine months of 2019
from RMB159.6 million in the same
period of 2018, primarily due to the increase in payroll costs, as
well as the increase of the amortization of the intangible assets
related to a subsidiary acquired in prior year.
General and administrative expenses decreased by 4.6% to
RMB123.1 million (US$17.2 million) in the first nine months of 2019
from RMB129.0 million in the same
period of 2018. The decrease was primarily due to a decrease in
recognition of share-based compensation expenses, partially offset
by the increase in professional fees and payroll costs.
Share-based compensation expenses recognized in cost of
revenues, sales and marketing expenses, research and development
expenses and general and administrative expenses in total were
RMB73.0 million (US$10.2 million) in the first nine months of 2019
and RMB103.6 million in the same
period of 2018. The decrease was due to graded vesting method used
and less share-based awards granted in the first nine months of
2019.
Impairment loss primarily reflects the impairment of the
goodwill and intangible assets related to a subsidiary acquired in
2018 due to adverse development of its business and change of the
relevant industry background and market conditions.
Income tax benefits were RMB18.0
million (US$2.5 million) in
the first nine months of 2019, compared with the income tax
benefits of RMB11.7 million in the
same period of 2018. The increase was primarily due to the release
of the deferred tax liabilities of RMB14.9
million related to the impairment charged for intangible
assets associated with a subsidiary acquired in prior year .
Net loss was RMB418.7
million (US$58.6 million) in
the first nine months of 2019, compared with a net loss of
RMB171.7 million in the same period
of 2018. The increase of net loss was primarily due to the
impairment loss charged in the third quarter of 2019.
Non-GAAP adjusted net loss, which excluded share-based
compensation expenses, impairment loss and tax effects on non-GAAP
adjustments from net loss, was RMB110.2
million (US$15.4 million) in
the first nine months of 2019, compared with adjusted net loss of
RMB68.1 million in the same period of
2018.
Non-GAAP adjusted EBITDA[3], which excluded share-based
compensation expenses, impairment loss, depreciation and
amortization, interest income and expenses, and income tax benefits
from net loss, for the first nine months of 2019 was a loss of
RMB87.6 million (US$12.3 million), compared with a loss of
RMB67.5 million in the same period of
2018.
Share Repurchase Program
On August 24, 2018, the board of
directors of the Company (the "Board") approved a share repurchase
program to repurchase Class A ordinary share in the form of
American depositary shares ("ADSs") with an aggregate value of up
to US$20 million during the next
twelve-month period.
On February 22, 2019, the Board
approved a new share repurchase program, under which the Company
may repurchase up to US$10 million of
ADSs during the next twelve-month period.
As of December 9, 2019, the
Company had repurchased US$30 million
of ADSs under these two programs.
Outlook
The Company anticipates the external environment to remain
uncertain and challenging, and consequently, the financial products
available on our platform may continue to decline into the coming
quarter. Based on the Company's current estimates, the Company
expects total revenues for the fourth quarter of 2019 to be
approximately RMB240-260 million.
Conference Call
The Company's management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on
December 9, 2019 (9:00 PM Beijing/Hong Kong Time on December 9, 2019).
Dial-in details for the earnings conference call are as
follows:
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United States (toll
free):
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+1-888-346-8982
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International:
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+1-412-902-4272
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Hong Kong, China
(toll free):
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800-905-945
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Hong Kong,
China:
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+852-3018-4992
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Mainland
China:
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400-120-1203
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Participants should dial-in at least 5 minutes before the
scheduled start time and ask to be connected to the call for
"Jianpu Technology Inc."
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website at
http://ir.jianpu.ai.
A replay of the conference call will be accessible approximately
one hour after the conclusion of the live call until December 16, 2019, by dialing the following
telephone numbers:
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United States (toll
free):
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+1-877-344-7529
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International:
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+1-412-317-0088
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Replay Access
Code:
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10137276
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About Jianpu Technology Inc.
Jianpu Technology Inc. is a leading independent open platform
for discovery and recommendation of financial products in
China. By leveraging its deep data
insights and proprietary technology, Jianpu provides users with
personalized search results and recommendations that are tailored
to each user's particular financial needs and credit profile. The
Company also enables financial service providers with sales and
marketing solutions to reach and serve their target customers more
effectively through online and mobile channels and enhance their
competitiveness by providing them with tailored data, risk
management and end-to-end solutions. The Company is committed to
maintaining an independent open platform, which allows it to serve
the needs of users and financial service providers impartially. For
more information, please visit http://ir.jianpu.ai.
Use of Non-GAAP Financial Measures
The Company uses adjusted EBITDA and adjusted net (loss)/income,
each a non-GAAP financial measure, in evaluating our operating
results and for financial and operational decision-making
purposes.
The Company believes that adjusted EBITDA and adjusted net
(loss)/income help identify underlying trends in our business that
could otherwise be distorted by the effect of the expenses and
gains that the Company include in (loss)/income from operations and
net (loss)/income. The Company believes that adjusted EBITDA and
adjusted net (loss)/income provide useful information about our
operating results, enhance the overall understanding of our past
performance and future prospects and allow for greater visibility
with respect to key metrics used by our management in its financial
and operational decision-making.
Adjusted EBITDA and adjusted net (loss)/income should not be
considered in isolation or construed as alternatives to net
(loss)/income or any other measure of performance or as indicators
of our operating performance. Investors are encouraged to review
the historical non-GAAP financial measures to the most directly
comparable GAAP measures. Adjusted EBITDA and adjusted net
(loss)/income presented here may not be comparable to similarly
titled measures presented by other companies. Other companies may
calculate similarly titled measures differently, limiting their
usefulness as comparative measures to our data. The Company
encourages investors and others to review its financial information
in its entirety and not rely on a single financial measure.
Adjusted EBITDA represents EBITDA before share-based
compensation expenses and impairment loss. EBITDA represents net
(loss)/income before interest, tax, depreciation and
amortization.
Adjusted net (loss)/income represents net (loss)/income before
share-based compensation expenses, impairment loss and tax effects
on non-GAAP adjustments.
For more information on this non-GAAP financial measure, please
see the table captioned "Unaudited Reconciliations of GAAP and
non-GAAP results" set forth at the end of this press release.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under 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," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
Statements that are not historical facts, including statements
about the Company's beliefs 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: the
Company's goal and strategies; the Company's future business
development, financial condition and results of operations; the
Company's expectations regarding demand for, and market acceptance
of, its solutions and services; the Company's expectations
regarding keeping and strengthening its relationships with users,
financial service providers and other parties it collaborate with;
general economic and business conditions; and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in the Company's
filings with the SEC. All information provided in this press
release and in the attachments is as of the date of this press
release, and the Company undertakes no obligation to update any
forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please contact:
In China:
Jianpu Technology Inc.
Oscar Chen
Tel: +86 (10) 6242-7068
E-mail: IR@rong360.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: jianpu@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: jianpu@tpg-ir.com
|
Jianpu Technology
Inc.
|
|
Unaudited
Condensed Consolidated Balance Sheets
|
|
|
As of
December 31,
|
|
As of
September 30,
|
|
(In thousands except
for number of shares and per
share data)
|
2018
|
|
2019
|
|
2019
|
|
RMB
|
|
RMB
|
|
US$
|
|
ASSETS
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
1,270,001
|
|
806,686
|
|
112,860
|
|
Restricted cash and
time deposits
|
142,411
|
|
293,585
|
|
41,074
|
|
Short-term
investment
|
78,462
|
|
-
|
|
-
|
|
Accounts receivable,
net (including amounts billed
through RONG360 of RMB134,966 and RMB37,500
as of December 31, 2018 and September 30, 2019,
respectively)
|
444,199
|
|
395,563
|
|
55,341
|
|
Prepayments and other
current assets
|
160,131
|
|
165,377
|
|
23,137
|
|
Total current
assets
|
2,095,204
|
|
1,661,211
|
|
232,412
|
|
Non-current
assets:
|
|
|
|
|
|
|
Property and
equipment, net
|
52,322
|
|
43,727
|
|
6,118
|
|
Intangible assets,
net
|
115,037
|
|
5,182
|
|
725
|
|
Goodwill
|
147,296
|
|
5,422
|
|
759
|
|
Other non-current
assets *
|
35,276
|
|
121,322
|
|
16,974
|
|
Total non-current
assets
|
349,931
|
|
175,653
|
|
24,576
|
|
Total
assets
|
2,445,135
|
|
1,836,864
|
|
256,988
|
|
|
|
|
|
|
|
LIABILITIES,
MEZZANINE EQUITY AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Short-term
borrowings
|
130,000
|
|
154,314
|
|
21,590
|
|
Accounts
payable
|
201,543
|
|
149,934
|
|
20,977
|
|
Advances from
customers
|
115,597
|
|
63,911
|
|
8,941
|
|
Tax
payable
|
39,446
|
|
12,669
|
|
1,772
|
|
Amount due to related
party
|
72,750
|
|
13,649
|
|
1,910
|
|
Accrued expenses and
other current liabilities *
|
144,478
|
|
160,517
|
|
22,457
|
|
Total current
liabilities
|
703,814
|
|
554,994
|
|
77,647
|
|
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
|
|
Deferred tax
liabilities
|
16,865
|
|
585
|
|
82
|
|
Other non-current
liabilities *
|
20,538
|
|
18,731
|
|
2,621
|
|
Total non-current
liabilities
|
37,403
|
|
19,316
|
|
2,703
|
|
Total
liabilities
|
741,217
|
|
574,310
|
|
80,350
|
|
|
|
Jianpu Technology
Inc.
|
|
Unaudited
Condensed Consolidated Balance Sheets
|
|
|
As of
December 31,
|
|
As of
September 30,
|
|
(In thousands except
for number of shares and per
share data)
|
2018
|
|
2019
|
|
2019
|
|
RMB
|
|
RMB
|
|
US$
|
|
Mezzanine equity:
|
|
|
|
|
|
|
Redeemable
noncontrolling interest
|
-
|
|
5,766
|
|
807
|
|
|
|
|
|
|
|
Shareholders'
equity:
|
|
|
|
|
|
|
Ordinary shares:
US$0.0001 par value, 1,500,000,000
shares authorized, 428,063,797 shares (including
325,592,002 Class A ordinary shares, and 102,471,795
Class B ordinary shares) issued and 415,246,557 shares
(including 312,774,762 Class A ordinary shares
and 102,471,795 Class B ordinary shares) outstanding
as of December 31, 2018, and 430,463,797 shares
(including 333,992,002 Class A ordinary shares, and
96,471,795 Class B ordinary shares) issued and
422,477,472 shares (including 326,005,677 Class A
ordinary shares, and 96,471,795 Class B ordinary
shares) outstanding as of September 30, 2019,
respectively.
|
284
|
|
286
|
|
40
|
|
Treasury stock, at
cost (12,817,240 and 7,986,325
shares held as of December 31, 2018 and September
30, 2019, respectively)
|
(70,113)
|
|
(105,474)
|
|
(14,756)
|
|
Additional paid-in
capital
|
1,959,655
|
|
1,971,893
|
|
275,878
|
|
Accumulated
losses
|
(339,325)
|
|
(700,009)
|
|
(97,935)
|
|
Statutory
reserves
|
-
|
|
1,900
|
|
266
|
|
Accumulated other
comprehensive income
|
37,750
|
|
64,314
|
|
8,997
|
|
Total Jianpu's
shareholders' equity
|
1,588,251
|
|
1,232,910
|
|
172,490
|
|
Noncontrolling
interest
|
115,667
|
|
23,878
|
|
3,341
|
|
Total
shareholders' equity
|
1,703,918
|
|
1,256,788
|
|
175,831
|
|
Total liabilities,
mezzanine equity and
shareholders' equity
|
2,445,135
|
|
1,836,864
|
|
256,988
|
|
|
* The Company has
adopted Accounting Standards Update No. 2016-02, Leases, beginning
January 1, 2019 on a
modified retrospective basis. As a result, the Company recognized
approximately RMB23.5 million of right-of-use
assets recorded in other non-current assets, and corresponding
short-term leasing liabilities recorded in accrued
expenses and other current liabilities and long-term leasing
liabilities recorded in other non-current liabilities
respectively on the consolidated balance sheet as of September 30,
2019. The Company elected not to recognize lease
assets and liabilities for leases with a term of 12 months or less.
The adoption had no impact on the Company's
consolidated statements of comprehensive loss for the quarter ended
September 30, 2019 or the opening balances of
accumulated losses as of January 1, 2019.
|
|
Jianpu Technology
Inc.
|
|
Unaudited
Condensed Consolidated Statements of Comprehensive
Loss
|
|
|
|
For the Three Months Ended
September 30,
|
|
For the Nine
Months Ended September 30,
|
|
(In thousands except
for number of shares and
per share
data)
|
|
2018
|
|
2019
|
|
2019
|
|
2018
|
|
2019
|
|
2019
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recommendation
services:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans[a]
|
|
193,337
|
|
90,324
|
|
12,637
|
|
645,326
|
|
626,292
|
|
87,621
|
|
Credit
cards
|
|
183,517
|
|
195,583
|
|
27,363
|
|
461,808
|
|
541,412
|
|
75,746
|
|
Total recommendation
services
|
|
376,854
|
|
285,907
|
|
40,000
|
|
1,107,134
|
|
1,167,704
|
|
163,367
|
|
Advertising,
marketing and other services[b]
|
|
66,864
|
|
37,595
|
|
5,260
|
|
162,608
|
|
172,940
|
|
24,195
|
|
Total
revenues
|
|
443,718
|
|
323,502
|
|
45,260
|
|
1,269,742
|
|
1,340,644
|
|
187,562
|
|
Cost of
revenues
|
|
(47,364)
|
|
(26,984)
|
|
(3,775)
|
|
(155,772)
|
|
(107,318)
|
|
(15,014)
|
|
Gross
profit
|
|
396,354
|
|
296,518
|
|
41,485
|
|
1,113,970
|
|
1,233,326
|
|
172,548
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and
marketing[c]
|
|
(340,961)
|
|
(325,293)
|
|
(45,510)
|
|
(1,020,945)
|
|
(1,091,899)
|
|
(152,762)
|
|
Research and
development
|
|
(63,523)
|
|
(66,502)
|
|
(9,304)
|
|
(159,563)
|
|
(222,109)
|
|
(31,074)
|
|
General and
administrative
|
|
(48,381)
|
|
(30,609)
|
|
(4,282)
|
|
(128,956)
|
|
(123,083)
|
|
(17,220)
|
|
Impairment
loss
|
|
-
|
|
(250,323)
|
|
(35,021)
|
|
-
|
|
(250,323)
|
|
(35,021)
|
|
Loss from
operations
|
|
(56,511)
|
|
(376,209)
|
|
(52,632)
|
|
(195,494)
|
|
(454,088)
|
|
(63,529)
|
|
Net interest
income
|
|
1,081
|
|
1,786
|
|
250
|
|
3,747
|
|
4,934
|
|
690
|
|
Others,
net
|
|
1,467
|
|
6,337
|
|
887
|
|
8,391
|
|
12,426
|
|
1,738
|
|
Loss before income
tax
|
|
(53,963)
|
|
(368,086)
|
|
(51,495)
|
|
(183,356)
|
|
(436,728)
|
|
(61,101)
|
|
Income tax
benefits
|
|
424
|
|
15,542
|
|
2,174
|
|
11,667
|
|
18,040
|
|
2,524
|
|
Net
loss
|
|
(53,539)
|
|
(352,544)
|
|
(49,321)
|
|
(171,689)
|
|
(418,688)
|
|
(58,577)
|
|
Less: net income/
(loss) attributable to
noncontrolling interests
|
|
1,570
|
|
(61,338)
|
|
(8,582)
|
|
2,286
|
|
(59,904)
|
|
(8,381)
|
|
Net loss
attributable to Jianpu's shareholders
|
|
(55,109)
|
|
(291,206)
|
|
(40,739)
|
|
(173,975)
|
|
(358,784)
|
|
(50,196)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
comprehensive income, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
|
50,151
|
|
26,940
|
|
3,770
|
|
61,393
|
|
26,811
|
|
3,751
|
|
Total other
comprehensive income
|
|
50,151
|
|
26,940
|
|
3,770
|
|
61,393
|
|
26,811
|
|
3,751
|
|
Total
comprehensive loss
|
|
(3,388)
|
|
(325,604)
|
|
(45,551)
|
|
(110,296)
|
|
(391,877)
|
|
(54,826)
|
|
Less: total
comprehensive income/ (loss) attributable
to noncontrolling interests
|
|
1,994
|
|
(61,109)
|
|
(8,549)
|
|
3,050
|
|
(59,657)
|
|
(8,346)
|
|
Total
comprehensive loss attributable to Jianpu's
shareholders
|
|
(5,382)
|
|
(264,495)
|
|
(37,002)
|
|
(113,346)
|
|
(332,220)
|
|
(46,480)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share
attributable to Jianpu's
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
(0.13)
|
|
(0.69)
|
|
(0.10)
|
|
(0.42)
|
|
(0.85)
|
|
(0.12)
|
|
Diluted
|
|
(0.13)
|
|
(0.69)
|
|
(0.10)
|
|
(0.42)
|
|
(0.85)
|
|
(0.12)
|
|
Net loss per ADS
attributable to Jianpu's
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
(0.33)
|
|
(1.72)
|
|
(0.24)
|
|
(1.05)
|
|
(2.14)
|
|
(0.30)
|
|
Diluted
|
|
(0.33)
|
|
(1.72)
|
|
(0.24)
|
|
(1.05)
|
|
(2.14)
|
|
(0.30)
|
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
420,058,949
|
|
422,105,931
|
|
422,105,931
|
|
417,165,368
|
|
419,929,107
|
|
419,929,107
|
|
Diluted
|
|
420,058,949
|
|
422,105,931
|
|
422,105,931
|
|
417,165,368
|
|
419,929,107
|
|
419,929,107
|
|
|
[a]
Including revenues from related party of RMB22,841 and RMB7,817 for
the three months ended September 30, 2018 and 2019, respectively.
RMB86,482 and RMB27,523 for
the nine months ended September 30, 2018 and 2019,
respectively.
|
|
[b]
Including revenues from related party of RMB4,400 and RMB2,347 for
the three months ended September 30, 2018 and 2019, respectively.
RMB10,730 and RMB5,245 for the
nine months ended September 30, 2018 and 2019,
respectively.
|
|
[c]
Including expenses from related party of RMB18,744 and RMB2,544 for
the three months ended September 30, 2018 and 2019, respectively.
RMB18,744 and RMB21,024 for
the nine months ended September 30, 2018 and 2019,
respectively.
|
|
Jianpu Technology
Inc.
|
|
Unaudited
Reconciliations of GAAP and Non-GAAP Results
|
|
|
|
For the
Three Months Ended September 30,
|
|
For the Nine
Months Ended September 30,
|
|
(In thousands except
for number of shares and
per share data)
|
|
2018
|
|
2019
|
|
2019
|
|
2018
|
|
2019
|
|
2019
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss
|
|
(53,539)
|
|
(352,544)
|
|
(49,321)
|
|
(171,689)
|
|
(418,688)
|
|
(58,577)
|
|
Add:
Share-based compensation expenses
|
|
33,735
|
|
16,394
|
|
2,294
|
|
103,593
|
|
73,015
|
|
10,215
|
|
Impairment
loss
|
|
-
|
|
250,323
|
|
35,021
|
|
-
|
|
250,323
|
|
35,021
|
|
Reversal of: Tax
effects on non-GAAP
adjustments
|
|
-
|
|
(14,866)
|
|
(2,080)
|
|
-
|
|
(14,866)
|
|
(2,080)
|
|
Non-GAAP adjusted
net loss
|
|
(19,804)
|
|
(100,693)
|
|
(14,086)
|
|
(68,096)
|
|
(110,216)
|
|
(15,421)
|
|
Add:
Depreciation and amortization
|
|
8,669
|
|
10,292
|
|
1,440
|
|
16,059
|
|
30,741
|
|
4,301
|
|
Net interest
income
|
|
(1,081)
|
|
(1,786)
|
|
(250)
|
|
(3,747)
|
|
(4,934)
|
|
(690)
|
|
Income tax
benefits excluding the tax effects
on non-GAAP adjustments
|
|
(424)
|
|
(676)
|
|
(94)
|
|
(11,667)
|
|
(3,174)
|
|
(444)
|
|
Non-GAAP
adjusted EBITDA
|
|
(12,640)
|
|
(92,863)
|
|
(12,990)
|
|
(67,451)
|
|
(87,583)
|
|
(12,254)
|
View original
content:http://www.prnewswire.com/news-releases/jianpu-technology-inc-reports-third-quarter-2019-unaudited-financial-results-300971234.html
SOURCE Jianpu Technology Inc.