Aurora Mobile Limited (“Aurora Mobile” or the “Company”) (NASDAQ:
JG), a leading mobile developer service provider in China, today
announced its unaudited financial results for the second quarter
ended June 30, 2021.
Second Quarter 2021 Financial Highlights (SAAS
Businesses# only)
-
Revenues were RMB89.0 million (US$13.8
million), an increase of 34% year-over-year.
- Gross
profit was RMB67.4 million (US$10.4 million), an
increase of 33% year-over-year.
- Gross
margin was 75.7%, compared with 76.4% in the same
quarter of 2020.
# SAAS Businesses include both the Developer
Services and Vertical Applications. Starting from the first quarter
of 2021, the Company only has revenues from SAAS Businesses.
Second Quarter 2021 Financial Highlights
(for the Group as a whole, where for the comparative second quarter
in 2020, contribution from Targeted Marketing business was
included)
-
Revenues were RMB89.0 million (US$13.8 million), a
decrease of 32% year-over-year.
-
Cost of revenues was RMB21.6 million (US$3.3
million), a decrease of 72% year-over-year.
-
Gross profit was RMB67.4 million (US$10.4
million), an increase of 26% year-over-year.
-
Total operating expenses were RMB105.3 million
(US$16.3 million), an increase of 7% year-over-year.
-
Net loss was RMB29.3 million (US$4.5 million),
compared with a net loss of RMB40.4 million for the same quarter
last year.
-
Adjusted net loss (non-GAAP) was RMB23.6 million
(US$3.7 million), compared with a RMB32.1 million adjusted net loss
for the same quarter last year.
-
Adjusted EBITDA (non-GAAP) was negative RMB13.3
million (US$2.1 million), compared with a negative RMB18.3 million
for the same quarter last year.
Second Quarter 2021 Operational
Highlights
-
Number of mobile apps utilizing at least one of
the Company’s developer services, or the cumulative app
installations, increased to approximately 1,761,000 as of June 30,
2021 from approximately 1,553,000 as of June 30, 2020.
-
Number of monthly active unique mobile devices
increased to 1.42 billion in June 2021 from 1.38 billion in June
2020.
-
Cumulative SDK installations increased to 52.5
billion as of June 30, 2021 from 40.6 billion as of June 30,
2020.
-
Number of paying customers increased to 2,634 in
the second quarter of 2021 from 2,396 in the second quarter of
2020.
Mr. Weidong Luo, Chairman and Chief Executive
Officer of Aurora Mobile, commented, “This was the second quarter
where we operated exclusively under the pure SAAS business model
and our business transformation continued to pay off. We delivered
strong results with revenues, gross profit, and gross margin
increased substantially while Adjusted EBITDA improved 27% from a
year ago demonstrating our strong operating leverage. Additionally,
the number of SAAS Businesses paying customers increased to
2,634 from 2,281 a year ago, up 15% year-over-year.
Revenues from our SAAS Businesses continued
their strong growth momentum this quarter, mainly due to the 34%
growth in both Developer Services and Vertical Applications. The
successful transition into the pure SAAS business model since the
beginning of 2021 has helped us to deliver two consecutive quarters
with gross margin above 75%, a significant improvement
from 41% a year ago. The strong gross profit growth of our
SAAS Businesses was mainly driven by revenue growth of 34%
year-over-year.
We continued to see strong market demand for our
new products, namely JG UMS (“Unification Messaging System”) and JG
VAAS (“Video-as-a-Service”) since their respective launches. The
current and potential customers for these products come from a wide
and diversified number of industries, including finance, medical
and healthcare, media, short video content providers, social
networks, e-commerce platforms and more. We also recently launched
a free version of JG UMS to give potential customers a trial
opportunity before converting them into paying customers. We expect
the launch of the free version to accelerate the go-to-market
process for our JG UMS product.
On the product innovation front, we recently
introduced a “smart push” version of our JPush service, which added
a new post push analytical functionality to the integrated
platform. With this new post-analytical function, developers are
given message delivery data from different levels and the ability
to review the full push message delivery cycle. We believe this new
functionality will help app developers to create more reliable,
comprehensive and intelligent toolkits, which in-turn will increase
the delivery rates and click-through rates of the push messages by
providing a much more accurate push strategy based on learnings
from past results.”
Mr. Fei Chen, President of Aurora Mobile, added,
“Revenues from Developer Services reached RMB61.2 million, a robust
34% and 17% growth, on a year-over-year and quarter-over-quarter
basis respectively. The year-over-year revenue growth was fueled by
strong growth of 22% in Subscription Services and 57% growth in
Value-added-services (“VAS”).
Subscription Services revenues were RMB37.5
million, an increase of 22% year-over-year, primarily driven by new
customer acquisition. In addition, we continued cross-selling
various non-push subscription products (such as JVerification,
JSMS, JAnalytics) to our customers in an effort to increase our
subscription uptake via multiple product lines. This effort has
delivered solid results as the revenue contribution of non-push
subscription products increased to 38% from 32% a year ago.
Value-added-services within Developer Services,
which include revenues from JG Alliance products and Advertisement
SAAS, once again delivered a set of impressive results where
revenues grew by 57% year-over-year to RMB23.6 million from RMB15.1
million in Q2’2020 and by 26% quarter-over-quarter from RMB18.8
million in Q1’2021. We continued to see very strong and solid
demand for our JG Alliance products.
On the supply side of the JG Alliance, we
continued to sign up more mobile apps in order to grow this traffic
pool. The total number of apps within our network exceeded 340
compared to 280 in Q1’2021, representing a 23% growth
quarter-over-quarter. As a result of apps growth within the traffic
pool, the DAU within our network has increased by 20% to 180
million from 150 million in Q1’2021. On the demand side, we
continued to see strong demand from mini-program developers which
contributed close to 40% of JG Alliance’s revenues. To further
expand market reach and shorten the go-to-market process, we have
used ad agencies to help us cover a broader customer base, while
our direct sales team focused on serving large KA customers.
Vertical Applications revenues which include
Financial Risk Management, Market Intelligence and iZone grew by
34% year-over-year as demand continued to recover from the impact
of the pandemic, with the majority of the revenue growth coming
from the Financial Risk Management business. In the Financial Risk
Management business, revenues increased significantly by 42%
year-over-year with the help of the 55% growth in ARPU. This
quarter, we recorded the highest quarterly revenues, compared with
results since the beginning of COVID-19 in Q1’2020. We continued to
see strong demand for this product from KA customers such as banks
and licensed financial institutions.”
Mr. Shan-Nen Bong, Chief Financial Officer of
Aurora Mobile, added, “For the second quarter of 2021, we delivered
another set of solid financial results. For year-over-year
comparison, our SAAS Businesses revenues increased significantly by
34% and group gross margin improved from 41% to 75.7%, a direct
result of gross margin this quarter being 100% contributed by
high-margin SAAS Businesses. As a result, our Adjusted EBITDA
improved by 27%, which continues to demonstrate the scalability of
our business model.
As we have shifted away from the legacy Targeted
Marketing services to focus on the SAAS Businesses along with the
company-wide focus on improving collection, our AR turnover days
decreased significantly from 59 days in Q2’2020 to 38 days this
quarter. Our total deferred revenue balance, which represents cash
collected in advance from customers, exceeded RMB100.0 million at
quarter-end for the fifth consecutive quarter. As of June 30, 2021,
the balance was RMB111.5 million.”
Second Quarter 2021 Financial
Results
Revenues were RMB89.0 million
(US$13.8 million), a decrease of 32% from RMB130.8 million in the
same quarter of last year, mainly due to a 100% decrease in
revenues from the legacy Targeted Marketing business as the Company
exited this business by the end of 2020, and offset by the strong
growth in revenues of 34% from both Developer Services and Vertical
Applications. In particular, the revenues from Value-added-services
within Developer Services increased by 57% compared to the same
quarter of last year.
Cost of revenues was RMB21.6
million (US$3.3 million), a decrease of 72% from RMB77.1 million in
the same quarter of last year. The decrease was mainly due to the
decrease in media cost of RMB52.6 million as the Company has
completely exited from the legacy Targeted Marketing business by
the end of 2020.
Gross profit was RMB67.4
million (US$10.4 million), an increase of 26% from RMB53.7 million
in the same quarter of last year despite revenues decreased by 32%
on a year-over-year basis. This is the result of our successful
strategic shift in focus from a low margin legacy Targeted
Marketing model to a high margin pure SAAS business model. Gross
profit in the second quarter of 2021 was 100% contributed from SAAS
Businesses.
Total operating expenses were
RMB105.3 million (US$16.3 million), an increase of 7% from RMB98.8
million in the same quarter of last year.
- Research
and development expenses were RMB54.3 million (US$8.4
million), an increase of 16% from RMB47.0 million in the same
quarter of last year, mainly due to a RMB1.7 million increase in
personnel costs and a RMB6.7 million increase in bandwidth and
cloud cost to support the expansion of SAAS Businesses. The impact
was partially offset by a RMB0.8 million decrease in
depreciation.
- Sales
and marketing expenses were RMB27.0 million (US$4.2
million), an increase of 1% from RMB26.8 million in the same
quarter of last year, mainly due to a RMB1.1 million increase in
marketing expense and a RMB0.8 million increase in travel expense.
The impact was partially offset by a RMB1.6 million decrease in
personnel costs.
- General
and administrative expenses were RMB23.9 million (US$3.7
million), a decrease of 4% from RMB25.0 million in the same quarter
of last year, mainly due to a RMB1.2 million decrease in bad debt
provision which was the result of our company-wide concerted focus
on strict financial control measures.
Loss from operations was
RMB37.9 million (US$5.9 million), compared with RMB45.1 million in
the same quarter of last year.
Net Loss was RMB29.3 million
(US$4.5 million), compared with RMB40.4 million in the same quarter
of last year.
Adjusted net loss (non-GAAP)
was RMB23.6 million (US$3.7 million), compared with RMB32.1 million
in the same quarter of last year.
Adjusted EBITDA (non-GAAP) was
negative RMB13.3 million (US$2.1 million) compared with negative
RMB18.3 million for the same quarter of last year. This was also
our best Adjusted EBITDA performance since the first quarter of
2020.
The cash and cash equivalents, restricted cash
and short-term investment were RMB297.2 million (US$46.0 million)
as of June 30, 2021 compared with RMB436.2 million as of December
31, 2020. The decrease was primarily due to convertible notes
valued at US$35.0 million were fully redeemed in April 2021.
Business Outlook
Our new full year 2021 revenue guidance is in
the range of RMB342.0 million to RMB360.0 million, representing
growth of 33% to 40% year-over-year compared with last year, and
guidance for our full year gross margin remains above 70%. The
update is primarily due to the revised outlook for our JG Alliance
business. The use of third-party agents for our Developer Services
(Value-added-services) business has caused a change in the
accounting method for our revenues from gross revenues to net
revenues, net of any agent rebates. In addition, due to the recent
macro environment uncertainties some of our potential JG Alliance
partners have temporarily delayed joining and integrating with our
traffic supply network. However, the longer-term outlook for the JG
Alliance remains unchanged and we still expect it to be our main
growth driver going forward.
Please note that, for meaningful comparison
purposes, the prior year revenue number used to calculate the
growth percentage excludes revenues from Targeted Marketing
business. The above outlook is based on the current market
conditions and reflects the Company’s current and preliminary
estimates of market and operating conditions and customer demand,
which are all subject to change.
Update on Share Repurchase
As of June 30, 2021, the Company had repurchased
a total of 920,606 ADS. No ADS were repurchased during the second
quarter in 2021.
Conference Call
The Company will host an earnings conference
call on Thursday, September 9, 2021 at 7:30 a.m. U.S. Eastern Time
(7:30 p.m. Beijing time on the same day).
Due to the outbreak of COVID-19, operator
assisted conference calls are not available at the moment. All
participants must register in advance to join the conference using
the link provided below. Please dial in 15 minutes before the call
is scheduled to begin. Conference access information will be
provided upon registration.
Participant Online Registration:
http://apac.directeventreg.com/registration/event/1894657
A telephone replay of the call will be available
after the conclusion of the conference call through 9:00 p.m. U.S.
Eastern Time, September 16, 2021.
The dial-in details for the replay are as follows:
International: |
+61 2 8199 0299 |
|
U.S. Toll Free: |
1-855-452-5696 |
|
Passcode: |
1894657 |
|
A live and archived webcast of the conference
call will be available on the Investor Relations section of Aurora
Mobile’s website at http://ir.jiguang.cn/.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company
considers and uses two non-GAAP measures, adjusted net loss and
adjusted EBITDA, as a supplemental measure to review and assess its
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. The Company defines adjusted net loss as
net loss excluding share-based compensation and change in fair
value of foreign currency swap contract. The Company defines
adjusted EBITDA as net loss excluding interest expense,
depreciation of property and equipment, amortization of intangible
assets, income tax expenses, share-based compensation and change in
fair value of foreign currency swap contract.
The Company believes that adjusted net loss and
adjusted EBITDA help identify underlying trends in its business
that could otherwise be distorted by the effect of certain expenses
that it includes in loss from operations and net loss.
The Company believes that adjusted net loss and
adjusted EBITDA provide useful information about its operating
results, enhance the overall understanding of its past performance
and future prospects and allow for greater visibility with respect
to key metrics used by the management in their financial and
operational decision-making.
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 adjusted net loss and
adjusted EBITDA is that they do not reflect all items of income and
expense that affect the Company’s operations. Further, the non-GAAP
financial measures may differ from the non-GAAP information used by
other companies, including peer companies, and therefore their
comparability may be limited.
The Company compensates for these limitations by
reconciling the non-GAAP financial measures to the nearest U.S.
GAAP performance measure, all of which should be considered when
evaluating the Company’s performance. The Company encourages you to
review its financial information in its entirety and not rely on a
single financial measure.
Reconciliations of the non-GAAP financial
measures to the most comparable U.S. GAAP measure are included 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. Among other things, the Business Outlook and
quotations from management in this announcement, as well as Aurora
Mobile’s strategic and operational plans, contain forward-looking
statements. Aurora Mobile may also make written or oral
forward-looking statements in its reports to 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 but not limited
to statements about Aurora Mobile’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: Aurora Mobile’s strategies; Aurora Mobile’s future
business development, financial condition and results of
operations; Aurora Mobile’s ability to attract and retain
customers; its ability to develop and effectively market data
solutions, and penetrate the existing market for developer
services; its ability to transition to the new advertising-driven
SAAS business model; its ability maintain or enhance its brand; the
competition with current or future competitors; its ability to
continue to gain access to mobile data in the future; the laws and
regulations relating to data privacy and protection; 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 the
Company’s filings with the Securities and Exchange Commission. All
information provided in this press release and in the attachments
is as of the date of the press release, and Aurora Mobile
undertakes no duty to update such information, except as required
under applicable law.
About Aurora Mobile Limited
Founded in 2011, Aurora Mobile is a leading
mobile developer service provider in China. Aurora Mobile is
committed to providing efficient and stable push notification,
one-click verification, and APP traffic monetization services to
help developers improve operational efficiency, grow and monetize.
Meanwhile, Aurora Mobile’s vertical applications have expanded to
market intelligence and financial risk management, empowering
various industries to improve productivity and optimize
decision-making.
For more information, please visit http://ir.jiguang.cn/.
For investor and media inquiries,
please contact:
Aurora Mobile
Limitedir@jiguang.cn
Christensen
In ChinaMr. Eric YuanPhone:
+86-10-5900-1548E-mail: eyuan@christensenir.com
In U.S.Ms. Linda BergkampPhone:
+1-480-614-3004Email: lbergkamp@christensenir.com
Footnote:
This announcement contains translations of
certain RMB amounts into U.S. dollars at specified rates solely for
the convenience of the reader. Unless otherwise noted, all
translations from RMB to U.S. dollars are made at a rate of
RMB6.4566 to US$1.00, the exchange rate set forth in the H.10
statistical release of the Board of Governors of the Federal
Reserve System as of June 30, 2021.
|
AURORA MOBILE LIMITEDUNAUDITED INTERIM
CONDENSED CONSOLIDATED INCOME STATEMENTS(Amounts in thousands of
Renminbi (“RMB”) and US dollars (“US$”)) |
|
|
Three months ended |
|
Six months ended |
|
June 30, |
|
March 31, |
|
June 30, |
|
June 30, |
June 30, |
2020 |
|
2021 |
|
2021 |
|
2020 |
|
2021 |
|
RMB |
|
RMB |
|
RMB |
US$ |
|
RMB |
|
RMB |
US$ |
|
|
|
|
|
|
|
|
|
Revenues |
130,794 |
|
|
76,648 |
|
|
88,961 |
|
|
13,778 |
|
|
257,018 |
|
|
165,609 |
|
|
25,650 |
|
|
|
|
|
|
|
|
|
|
Cost of
revenues |
(77,130 |
) |
|
(18,502 |
) |
|
(21,586 |
) |
|
(3,343 |
) |
|
(162,014 |
) |
|
(40,088 |
) |
|
(6,209 |
) |
|
|
|
|
|
|
|
|
|
Gross
profit |
53,664 |
|
|
58,146 |
|
|
67,375 |
|
|
10,435 |
|
|
95,004 |
|
|
125,521 |
|
|
19,441 |
|
|
|
|
|
|
|
|
|
|
Operating
expenses |
|
|
|
|
|
|
|
|
Research and development |
(46,977 |
) |
|
(51,907 |
) |
|
(54,312 |
) |
|
(8,412 |
) |
|
(88,371 |
) |
|
(106,219 |
) |
|
(16,451 |
) |
Sales and marketing |
(26,782 |
) |
|
(26,884 |
) |
|
(27,020 |
) |
|
(4,185 |
) |
|
(51,998 |
) |
|
(53,904 |
) |
|
(8,349 |
) |
General and
administrative |
(25,046 |
) |
|
(22,750 |
) |
|
(23,942 |
) |
|
(3,708 |
) |
|
(51,520 |
) |
|
(46,692 |
) |
|
(7,232 |
) |
|
|
|
|
|
|
|
|
|
Total operating
expenses |
(98,805 |
) |
|
(101,541 |
) |
|
(105,274 |
) |
|
(16,305 |
) |
|
(191,889 |
) |
|
(206,815 |
) |
|
(32,032 |
) |
|
|
|
|
|
|
|
|
|
Loss from
operations |
(45,141 |
) |
|
(43,395 |
) |
|
(37,899 |
) |
|
(5,870 |
) |
|
(96,885 |
) |
|
(81,294 |
) |
|
(12,591 |
) |
|
|
|
|
|
|
|
|
|
Foreign exchange (loss)/gain,
net |
(31 |
) |
|
(4 |
) |
|
(1,500 |
) |
|
(232 |
) |
|
9 |
|
|
(1,504 |
) |
|
(233 |
) |
Interest income |
1,390 |
|
|
1,588 |
|
|
1,742 |
|
|
270 |
|
|
2,994 |
|
|
3,330 |
|
|
516 |
|
Interest expense |
(2,998 |
) |
|
(2,774 |
) |
|
(2,204 |
) |
|
(341 |
) |
|
(5,930 |
) |
|
(4,978 |
) |
|
(771 |
) |
Other income |
5,923 |
|
|
4,399 |
|
|
8,699 |
|
|
1,347 |
|
|
7,446 |
|
|
13,098 |
|
|
2,029 |
|
Change in fair value of
structured notes |
421 |
|
|
20 |
|
|
- |
|
|
- |
|
|
920 |
|
|
20 |
|
|
3 |
|
Change in fair value of
foreign currency swap contract |
- |
|
|
- |
|
|
1,905 |
|
|
295 |
|
|
- |
|
|
1,905 |
|
|
295 |
|
|
|
|
|
|
|
|
|
|
Loss before
income taxes |
(40,436 |
) |
|
(40,166 |
) |
|
(29,257 |
) |
|
(4,531 |
) |
|
(91,446 |
) |
|
(69,423 |
) |
|
(10,752 |
) |
|
|
|
|
|
|
|
|
|
Income tax expenses |
- |
|
|
- |
|
|
(11 |
) |
|
(2 |
) |
|
- |
|
|
(11 |
) |
|
(2 |
) |
|
|
|
|
|
|
|
|
|
Net loss |
(40,436 |
) |
|
(40,166 |
) |
|
(29,268 |
) |
|
(4,533 |
) |
|
(91,446 |
) |
|
(69,434 |
) |
|
(10,754 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AURORA MOBILE LIMITEDUNAUDITED INTERIM
CONDENSED CONSOLIDATED INCOME STATEMENTS
(continued)(Amounts in thousands of Renminbi (“RMB”) and
US dollars (“US$”), except for number of shares and per
share data) |
|
|
Three months ended |
|
Six months ended |
|
June 30, |
|
March 31, |
|
June 30, |
|
June 30, |
|
June 30, |
|
2020 |
|
2021 |
|
2021 |
|
2020 |
|
2021 |
|
RMB |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
Net loss attributable to Aurora Mobile Limited’s
shareholders |
(40,436 |
) |
|
(40,166 |
) |
|
(29,268 |
) |
|
(4,533 |
) |
|
(91,446 |
) |
|
(69,434 |
) |
|
(10,754 |
) |
|
|
|
|
|
|
|
|
|
Net loss attributable
to common shareholders |
(40,436 |
) |
|
(40,166 |
) |
|
(29,268 |
) |
|
(4,533 |
) |
|
(91,446 |
) |
|
(69,434 |
) |
|
(10,754 |
) |
|
|
|
|
|
|
|
|
|
Net loss per share,
for Class A and Class B common shares: |
|
|
|
|
|
|
|
|
Class A Common Shares - basic
and diluted |
(0.52 |
) |
|
(0.51 |
) |
|
(0.37 |
) |
|
(0.06 |
) |
|
(1.18 |
) |
|
(0.88 |
) |
|
(0.14 |
) |
Class B Common Shares - basic
and diluted |
(0.52 |
) |
|
(0.51 |
) |
|
(0.37 |
) |
|
(0.06 |
) |
|
(1.18 |
) |
|
(0.88 |
) |
|
(0.14 |
) |
|
|
|
|
|
|
|
|
|
Shares used in net
loss per share computation: |
|
|
|
|
|
|
|
|
Class A Common Shares - basic
and diluted |
60,234,587 |
|
|
61,392,170 |
|
|
61,799,298 |
|
|
61,799,298 |
|
|
60,190,846 |
|
|
61,668,577 |
|
|
61,668,577 |
|
Class B Common Shares - basic
and diluted |
17,000,189 |
|
|
17,000,189 |
|
|
17,000,189 |
|
|
17,000,189 |
|
|
17,000,189 |
|
|
17,000,189 |
|
|
17,000,189 |
|
|
|
|
|
|
|
|
|
|
Other comprehensive
income/(loss) |
|
|
|
|
|
|
|
|
Foreign currency translation
adjustments |
47 |
|
|
(534 |
) |
|
1,188 |
|
|
184 |
|
|
(733 |
) |
|
654 |
|
|
101 |
|
|
|
|
|
|
|
|
|
|
Total other
comprehensive income/(loss), net of tax |
47 |
|
|
(534 |
) |
|
1,188 |
|
|
184 |
|
|
(733 |
) |
|
654 |
|
|
101 |
|
|
|
|
|
|
|
|
|
|
Comprehensive
loss |
(40,389 |
) |
|
(40,700 |
) |
|
(28,080 |
) |
|
(4,349 |
) |
|
(92,179 |
) |
|
(68,780 |
) |
|
(10,653 |
) |
Comprehensive loss
attributable to Aurora Mobile Limited |
(40,389 |
) |
|
(40,700 |
) |
|
(28,080 |
) |
|
(4,349 |
) |
|
(92,179 |
) |
|
(68,780 |
) |
|
(10,653 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AURORA MOBILE LIMITEDUNAUDITED INTERIM
CONDENSED CONSOLIDATED BALANCE SHEET(Amounts in
thousands of Renminbi (“RMB”) and US dollars (“US$”)) |
|
|
As of |
|
December 31, 2020 |
|
June 30, 2021 |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
Current
assets: |
|
|
|
|
|
Cash and cash equivalents |
356,115 |
|
102,854 |
|
15,930 |
Restricted cash |
115 |
|
164,356 |
|
25,456 |
Derivative assets |
100 |
|
1,905 |
|
295 |
Short-term investments |
80,000 |
|
30,000 |
|
4,646 |
Accounts receivable |
44,886 |
|
38,140 |
|
5,907 |
Prepayments and other current
assets |
49,013 |
|
51,467 |
|
7,971 |
|
|
|
|
|
|
Total current
assets |
530,229 |
|
388,722 |
|
60,205 |
|
|
|
|
|
|
Non-current
assets: |
|
|
|
|
|
Long-term investments |
168,526 |
|
167,979 |
|
26,017 |
Property and equipment,
net |
73,522 |
|
75,486 |
|
11,691 |
Intangible assets, net |
9,519 |
|
7,555 |
|
1,170 |
Other non-current assets |
5,631 |
|
2,921 |
|
452 |
|
|
|
|
|
|
Total non-current
assets |
257,198 |
|
253,941 |
|
39,330 |
|
|
|
|
|
|
Total
assets |
787,427 |
|
642,663 |
|
99,535 |
LIABILITIES AND
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities: |
|
|
|
|
|
Short-term loan |
- |
|
150,000 |
|
23,232 |
Accounts payable |
16,592 |
|
13,659 |
|
2,116 |
Deferred revenue and customer
deposits |
109,182 |
|
106,265 |
|
16,458 |
|
|
|
|
|
|
|
AURORA MOBILE LIMITEDUNAUDITED INTERIM
CONDENSED CONSOLIDATED BALANCE SHEET
(continued)(Amounts in thousands of Renminbi
(“RMB”) and US dollars (“US$”)) |
|
|
As of |
|
December 31, 2020 |
|
June 30, 2021 |
|
RMB |
|
RMB |
US$ |
|
|
|
|
Accrued liabilities and other current liabilities |
109,136 |
|
|
90,573 |
|
|
14,027 |
|
Convertible notes |
225,229 |
|
|
- |
|
|
- |
|
|
|
|
|
Total current
liabilities |
460,139 |
|
|
360,497 |
|
|
55,833 |
|
|
|
|
|
Non-current
liabilities: |
|
|
|
Deferred revenue |
6,049 |
|
|
5,233 |
|
|
810 |
|
Other non-current
liabilities |
- |
|
|
2,554 |
|
|
396 |
|
|
|
|
|
Total non-current
liabilities |
6,049 |
|
|
7,787 |
|
|
1,206 |
|
|
|
|
|
Total
liabilities |
466,188 |
|
|
368,284 |
|
|
57,039 |
|
|
|
|
|
Shareholders’
equity |
|
|
|
Common shares |
48 |
|
|
49 |
|
|
8 |
|
Additional paid-in
capital |
988,812 |
|
|
1,010,731 |
|
|
156,542 |
|
Accumulated deficit |
(678,434 |
) |
|
(747,868 |
) |
|
(115,830 |
) |
Accumulated other
comprehensive income |
10,813 |
|
|
11,467 |
|
|
1,776 |
|
|
|
|
|
Total shareholders’
equity |
321,239 |
|
|
274,379 |
|
|
42,496 |
|
|
|
|
|
Total liabilities and
shareholders’ equity |
787,427 |
|
|
642,663 |
|
|
99,535 |
|
|
|
|
|
|
|
|
|
|
|
AURORA MOBILE LIMITEDRECONCILIATION OF
GAAP AND NON-GAAP RESULTS(Amounts in thousands of
Renminbi (“RMB”) and US dollars (“US$”)) |
|
|
Three months ended |
|
Six months ended |
|
June 30, |
|
March 31, |
|
June 30, |
|
June 30, |
|
June 30, |
|
2020 |
|
2021 |
|
2021 |
|
2020 |
|
2021 |
|
RMB |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
Reconciliation of Net
Loss toAdjusted Net Loss: |
|
|
|
|
|
|
|
|
Net loss |
(40,436) |
|
|
(40,166) |
|
|
(29,268) |
|
|
(4,533) |
|
|
(91,446) |
|
|
(69,434) |
|
|
(10,754) |
|
Add: |
|
|
|
|
|
|
|
|
Share-based compensation |
8,292 |
|
|
11,508 |
|
|
7,528 |
|
|
1,166 |
|
|
16,111 |
|
|
19,036 |
|
|
2,948 |
|
Change in fair value of foreign currency swap contract |
- |
|
|
- |
|
|
(1,905) |
|
|
(295) |
|
|
- |
|
|
(1,905) |
|
|
(295) |
|
Adjusted net loss |
(32,144) |
|
|
(28,658) |
|
|
(23,645) |
|
|
(3,662) |
|
|
(75,335) |
|
|
(52,303) |
|
|
(8,101) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Net
Loss toAdjusted EBITDA: |
|
|
|
|
|
|
|
|
Net loss |
(40,436) |
|
|
(40,166) |
|
|
(29,268) |
|
|
(4,533) |
|
|
(91,446) |
|
|
(69,434) |
|
|
(10,754) |
|
Add: |
|
|
|
|
|
|
|
|
Income tax expenses |
- |
|
|
- |
|
|
11 |
|
|
2 |
|
|
- |
|
|
11 |
|
|
2 |
|
Interest expense |
2,998 |
|
|
2,774 |
|
|
2,204 |
|
|
341 |
|
|
5,930 |
|
|
4,978 |
|
|
771 |
|
Depreciation of property and equipment |
9,768 |
|
|
6,378 |
|
|
7,028 |
|
|
1,088 |
|
|
18,648 |
|
|
13,406 |
|
|
2,076 |
|
Amortization of intangible assets |
1,094 |
|
|
1,091 |
|
|
1,099 |
|
|
170 |
|
|
2,157 |
|
|
2,190 |
|
|
339 |
|
EBITDA |
(26,576) |
|
|
(29,923) |
|
|
(18,926) |
|
|
(2,932) |
|
|
(64,711) |
|
|
(48,849) |
|
|
(7,566) |
|
Add: |
|
|
|
|
|
|
|
|
Share-based compensation |
8,292 |
|
|
11,508 |
|
|
7,528 |
|
|
1,166 |
|
|
16,111 |
|
|
19,036 |
|
|
2,948 |
|
Change in fair value of foreign currency swap contract |
- |
|
|
- |
|
|
(1,905) |
|
|
(295) |
|
|
- |
|
|
(1,905) |
|
|
(295) |
|
Adjusted EBITDA |
(18,284) |
|
|
(18,415) |
|
|
(13,303) |
|
|
(2,061) |
|
|
(48,600) |
|
|
(31,718) |
|
|
(4,913) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AURORA MOBILE LIMITEDUNAUDITED SAAS
BUSINESSES REVENUE (Amounts in thousands of
Renminbi (“RMB”) and US dollars (“US$”)) |
|
|
|
|
|
Three months ended |
|
Six months ended |
|
June 30, |
|
March 31, |
|
June 30, |
|
June 30, |
|
June 30, |
|
2020 |
|
2021 |
|
2021 |
|
|
2020 |
|
2021 |
|
|
RMB |
|
RMB |
|
RMB |
|
US$ |
|
|
RMB |
|
RMB |
|
US$ |
|
Reconciliation of SAAS
Businesses Revenue to Total Revenue |
|
|
|
|
|
|
|
|
Developer Services |
45,775 |
|
52,440 |
|
61,168 |
|
9,474 |
|
|
77,216 |
|
113,608 |
|
17,596 |
|
Subscription |
30,724 |
|
33,676 |
|
37,538 |
|
5,814 |
|
|
55,665 |
|
71,214 |
|
11,030 |
|
Value-Added Services |
15,051 |
|
18,764 |
|
23,630 |
|
3,660 |
|
|
21,551 |
|
42,394 |
|
6,566 |
|
Vertical
Applications |
20,711 |
|
24,208 |
|
27,793 |
|
4,304 |
|
|
38,520 |
|
52,001 |
|
8,054 |
|
Total SAAS Businesses
Revenue |
66,486 |
|
76,648 |
|
88,961 |
|
13,778 |
|
|
115,736 |
|
165,609 |
|
25,650 |
|
Add: |
|
|
|
|
|
|
|
|
Targeted Marketing Revenue |
64,308 |
|
- |
|
- |
|
- |
|
|
141,282 |
|
- |
|
- |
|
Total
Revenue |
130,794 |
|
76,648 |
|
88,961 |
|
13,778 |
|
|
257,018 |
|
165,609 |
|
25,650 |
|
SAAS Businesses Gross
Profits1 |
50,783 |
|
58,146 |
|
67,375 |
|
10,435 |
|
|
87,197 |
|
125,521 |
|
19,441 |
|
SAAS Businesses Gross
Margin2 |
76.4% |
|
75.9% |
|
75.7% |
|
75.7% |
|
|
75.3% |
|
75.8% |
|
75.8% |
|
1Our SAAS Businesses Gross Profits is calculated after excluding
the Targeted Marketing gross profit (which is calculated as revenue
less media cost) from the Group’s total gross profit. |
2Our SAAS Businesses Gross Margin is calculated by dividing the
SAAS Businesses Gross Profit by SAAS Businesses Revenue. |
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