Dada Group (NASDAQ: DADA, “Dada” or the “Company”), China’s leading
local on-demand delivery and retail platform, today announced its
unaudited financial results for the third quarter ended September
30, 2020.
Third Quarter 2020
Highlights
- Total
net revenues were RMB1,301.5 million, an increase of 85.5%
year-over-year.
- Number
of orders delivered of Dada Now for the twelve months
ended September 30, 2020 was 1.0 billion, compared with 635.5
million in the same period of 2019.
- Total
Gross Merchandise Volume (“GMV”) of JDDJ for the twelve
months ended September 30, 2020 was RMB21.3 billion, an increase of
102.9% year-over-year from RMB10.5 billion in the same period of
2019.
- Number
of active consumers for the twelve months ended September
30, 2020 was 37.3 million, an increase of 77.1% year-over-year from
21.1 million in the same period of 2019.
“We are pleased to report strong performance for
the third quarter, with our business continuing to grow and our
leading position further strengthening with market share expansion.
JDDJ remains the largest local on-demand retail platform in the
China supermarket segment with 24% market share in the first nine
months of 2020, up from 21% in 2019. Dada Now maintains as the
largest open on-demand delivery platform in China with 24% market
share in the first nine months of 2020, up from 19% market share in
20191." commented Mr. Philip Kuai, Chairman and Chief Executive
Officer of Dada Group. "Our commitment to bring people everything
on demand continues to win over consumers, especially in the
lower-tier cities in China where we are expanding. We believe we
have an exciting journey ahead as we execute our growth
strategy.”
“In the third quarter, we saw strong revenue
growth with significant improvement of operating margin,” said Beck
Chen, Chief Financial Officer of Dada Group. “We will continue to
invest in technology to empower retailers and brand owners with
enhanced capabilities and improved efficiency to establish and
further strengthen partnership with them, which we believe will
provide the foundation to support our future growth. With the
strong growth momentum, we are confident that JDDJ revenue will
grow by 100% year over year in the second half of 2020.”
Third Quarter 2020 Financial
Results
Total net revenues were
RMB1,301.5 million, an increase of 85.5% from RMB701.6 million in
the same quarter of 2019.
|
|
Three months ended September 30, |
|
|
2019 |
|
2020 |
|
|
RMB |
|
RMB |
Net Revenue |
|
|
|
|
Dada Now |
|
|
|
|
Services |
|
385,865 |
|
704,961 |
Sales of goods |
|
10,800 |
|
14,034 |
Subtotal |
|
396,665 |
|
718,995 |
JDDJ |
|
|
|
|
Services note (1) |
|
304,967 |
|
582,507 |
Total |
|
701,632 |
|
1,301,502 |
|
|
|
|
|
Note:
(1) Includes net revenues from fulfillment
services provided to retailers on JDDJ of RMB168,012 and
RMB251,982, and commission fee revenues from retailers on JDDJ of
RMB95,841 and RMB158,307 for the three months ended September 30,
2019 and 2020, respectively.
Net revenues generated from Dada Now increased
by 81.3% from RMB396.7 million in the third quarter of 2019 to
RMB719.0 million, mainly driven by the increases in order volume of
last-mile delivery service to logistics companies and intra-city
delivery service to chain merchants.
Net revenues generated from JDDJ increased by
91.0% from RMB305.0 million in the third quarter of 2019 to
RMB582.5 million, mainly due a 90.7% increase in GMV from the same
quarter last year, which was driven by increases in average order
size and the number of active consumers. The increase in online
marketing services revenue as a result of the increasing
promotional activities launched by brand owners also constituted to
an increment of the net revenues generated form JDDJ.
Total costs and expenses were
RMB1,758.1 million, compared with RMB1,208.4 million in the same
quarter of 2019.
-
Operations and
support costs were RMB1,018.2 million, compared with
RMB657.4 million in the same quarter of 2019. The rise was
primarily due to an increase in rider cost as a result of
increasing order volume for last-mile and intra-city delivery
services provided to logistics companies, various chain merchants
on the Dada Now platform and retailers on the JDDJ platform.
- Selling
and marketing expenses were RMB499.2 million, compared
with RMB377.4 million in the same quarter of 2019. The increase was
primarily due to (i) incentives to JDDJ consumers grew with GMV
while the rate of incentives as a percentage of GMV declined (ii)
an increase in advertising and marketing expenses, which was
primarily attributable to the increase in referral fees paid to
staff at retailer stores for their efforts to attract new consumers
to the JDDJ platform, and (iii) an increase in personnel cost in
connection with the Company’s growing business and increased
share-based compensation expenses .
- General
and administrative expenses were RMB121.1 million,
compared with RMB73.1 million in the same quarter of 2019. The
increase was primarily due to (i) increased share-based
compensation expenses, and (ii) increases in professional service
fees that the Company incurred as a listed company.
-
Research and development expenses were RMB103.1
million, compared with RMB88.2 million in the same quarter of 2019.
The increase was mainly attributable to the increase in research
and development personnel cost as the Company continues to
strengthen its technological capabilities. And the increased
share-based compensation expenses also contributed to the increase
in personnel cost.
Loss from operations was
RMB449.9 million, compared with RMB500.9 million in the same
quarter of 2019. Operating margin was -34.6%, compared with -71.4%
in the same quarter of 2019.
Non-GAAP
loss from operations was RMB338.7
million, compared with RMB434.9 million in the same quarter of
2019. Non-GAAP operating margin was -26.0%, compared with -62.0% in
the same quarter of 2019.
Net loss was RMB434.0 million,
compared with RMB475.0 million in the same period of 2019.
Non-GAAP net loss was RMB324.0
million, compared with RMB411.3 million in the same period of
2019.
Net loss attributable
to ordinary shareholders of Dada Group
was RMB434.0 million, compared with RMB684.9 million in the same
quarter of 2019.
Non-GAAP net loss
attributable to ordinary shareholders of Dada
Group2 was RMB324.0 million, compared
with RMB621.2 million in the same quarter of 2019.
Basic and diluted net loss per
share for the third quarter of 2020 was RMB0.48, compared
with RMB1.89 for the third quarter of 2019.
Non-GAAP basic and diluted net loss per
share3 for the third quarter of 2020 was
RMB0.36, compared with RMB1.71 for the third quarter of 2019.
As of September 30, 2020, the Company had
RMB3,700.4 million in cash, cash equivalents, restricted
cash and short-term investments, an increase from
RMB2,113.5 million as of December 31, 2019.
Environment, social
responsibility and corporate
governance
As Dada further refines its ESG framework and
strategy, the Company focuses on creating a fair and sustainable
future for riders, consumers, partners and employees.
- The Company continues to provide
flexible working opportunities and training for its crowdsourced
riders.
- The Company strengthened its
efforts to share its success by giving back to communities and
society in general. For example, during the third quarter, the
Company leveraged its on-demand delivery infrastructure and retail
platform to actively participate in the poverty alleviation drive
between the eastern and western regions in China. The Company’s
participation successfully helped expand the coverage and enhance
the appeal and impact of the campaign.
- The Company continued to support
pandemic prevention initiatives in cities where occasional
outbreaks of COVID-19 took place. The Company continues to provide
contactless deliveries on both the JDDJ and Dada Now platforms, and
dedicate resources to protecting the health of consumers, riders,
retailers, employees and partners. As part of the overall drive to
protect all, Dada continues to lend strong logistics support to the
supply and distribution of daily necessities. The Company also
rolled out a daily body temperature reporting mechanism and
continues to provide nucleic acid testing for riders, as required
by the government.
Business Outlook
For the fourth quarter of 2020, Dada expects
total revenue to be between RMB2.0 billion and RMB2.1 billion. This
outlook is based on information available as of the date of this
press release and reflects the Company's current and preliminary
expectations, which are subject to change in light of various
uncertainties, including those related to the ongoing COVID-19
pandemic.
Conference Call
The Company will host a conference call to
discuss the earnings at 8:00 p.m. Eastern Time on Thursday,
November 19, 2020 (9:00 a.m. Beijing time on Friday, November 20,
2020).
Please register in advance of the conference
using the link provided below and dial in 10 minutes prior to the
call, using participant dial-in numbers, Direct Event passcode and
unique registrant ID which would be provided upon registering. You
will be automatically linked to the live call after completion of
this process, unless required to provide the conference ID below
due to regional restrictions.
PRE-REGISTER LINK:
http://apac.directeventreg.com/registration/event/7915129
CONFERENCE ID: 7915129
A telephone replay of the call will be available
after the conclusion of the conference call through 07:59 a.m.
Eastern Time, November 27, 2020.
Dial-in numbers for the replay are as
follows:
International
Dial-in |
+61-2-8199-0299 |
U.S. Toll Free |
1-855-452-5696 |
Mainland China |
8008-700-206 |
Hong Kong |
800-963-117 |
Passcode: |
7915129# |
A live and archived webcast of the conference
call will be available on the Investor Relations section of Dada’s
website at https://ir.imdada.cn/.
Use of Non-GAAP Financial Measures
The Company also uses certain non-GAAP financial
measures in evaluating its business. For example, the Company uses
non-GAAP income/(loss) from operations, non-GAAP operating margin,
non-GAAP net income/(loss), non-GAAP net margin, non-GAAP net
income/(loss) attributable to ordinary shareholders of Dada Group
and non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada Group per share as supplemental measures to
review and assess its financial and operating performance. The
presentation of these non-GAAP financial measures is not intended
to be considered in isolation, or as a substitute for the financial
information prepared and presented in accordance with U.S. GAAP.
Non-GAAP income/(loss) from operations is income/(loss) from
operations excluding the impact of share-based compensation
expenses and amortization of intangible assets resulting from
business acquisition. Non-GAAP operating margin is non-GAAP
income/(loss) from operations as a percentage of total net
revenues. Non-GAAP net income/(loss) is net income/(loss) excluding
the impact of share-based compensation expenses, amortization of
intangible assets resulting from business acquisition and tax
benefit from amortization of such intangible assets. Non-GAAP net
margin is non-GAAP net income/(loss) as a percentage of total net
revenues. Non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada Group is net income/(loss) attributable to
ordinary shareholders of Dada Group excluding the impact of
share-based compensation expenses, amortization of intangible
assets resulting from business acquisition and tax benefit from
amortization of such intangible assets. Non-GAAP net income/(loss)
attributable to ordinary shareholders of Dada Group per share is
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada Group divided by weighted average number of shares used in
calculating net income/(loss) per share.
The Company presents the non-GAAP financial
measures because they are used by the Company’s management to
evaluate the Company’s financial and operating performance and
formulate business plans. Non-GAAP income/(loss) from operations
and non-GAAP net income/(loss) enable the Company’s management to
assess the Company’s financial and operating results without
considering the impact of share-based compensation expenses,
amortization of intangible assets resulting from business
acquisition and tax benefit from amortization of such intangible
assets. The Company also believes that the use of the non-GAAP
measures facilitates investors’ assessment of the Company’s
financial and operating performance.
The non-GAAP financial measures are not defined
under U.S. GAAP and are not presented in accordance with U.S. GAAP.
The non-GAAP financial measures have limitations as analytical
tools. One of the key limitations of using non-GAAP income/(loss)
from operations, non-GAAP net income/(loss), non-GAAP net
income/(loss) attributable to ordinary shareholders of Dada Group,
and non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada Group per share is that they do not reflect
all items of income and expense that affect the Company’s
operations. Share-based compensation expenses, amortization of
intangible assets resulting from business acquisition and tax
benefit from amortization of such intangible assets have been and
may continue to be incurred in the Company’s business and is not
reflected in the presentation of non-GAAP income/(loss) from
operations, non-GAAP net income/(loss), non-GAAP net income/(loss)
attributable to ordinary shareholders of Dada Group, and non-GAAP
net income/(loss) attributable to ordinary shareholders of Dada
Group per share. Further, the non-GAAP measures may differ from the
non-GAAP measures used by other companies, including peer
companies, potentially limiting the comparability of their
financial results to the Company’s. In light of the foregoing
limitations, the non-GAAP income/(loss) from operations, non-GAAP
operating margin, non-GAAP net income/(loss), non-GAAP net margin,
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada Group and non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada Group per share for the period should not be
considered in isolation from or as an alternative to income/(loss)
from operations, operating margin, net income/(loss), net margin,
net income/(loss) attributable to ordinary shareholders of Dada
Group and net income/(loss) attributable to ordinary shareholders
of Dada Group per share, or other financial measures prepared in
accordance with U.S. GAAP.
The Company compensates for these limitations by
reconciling the non-GAAP financial measures to the nearest U.S.
GAAP performance measures, which should be considered when
evaluating the Company’s performance. For reconciliations of these
non-GAAP financial measures to the most directly comparable GAAP
financial measures, please see the section of the accompanying
tables titled, “Reconciliations of GAAP and Non-GAAP Results.”
Forward-Looking Statements
This press release contains statements that may
constitute “forward-looking” statements pursuant to the “safe
harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to”
and similar statements. Among other things, quotations in this
announcement, contain forward-looking statements. Dada may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the “SEC”),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about Dada’s beliefs, plans
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: Dada’s strategies; Dada’s future business
development, financial condition and results of operations; Dada’s
ability to maintain its relationship with major strategic
investors; its ability to provide efficient on-demand delivery
services and offer quality on-demand retail experience; its ability
to maintain and enhance the recognition and reputation of its
brands; general economic and business conditions globally and in
China and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in Dada’s filings with the SEC. All information provided
in this press release is as of the date of this press release, and
Dada does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
About Dada Group
Dada Group is a leading platform of local
on-demand retail and delivery in China. It operates JDDJ, one of
China’s largest local on-demand retail platforms for retailers and
brand owners, and Dada Now, a leading local on-demand delivery
platform open to merchants and individual senders across various
industries and product categories. The Company’s two platforms are
inter-connected and mutually beneficial. The Dada Now platform
enables improved delivery experience for participants on the JDDJ
platform through its readily accessible fulfillment solutions and
strong on-demand delivery infrastructure. Meanwhile, the vast
volume of on-demand delivery orders from the JDDJ platform
increases order volume and density for the Dada Now platform.
1 According to industry data by iResearch Consulting Group, an
independent research firm. 2 Non-GAAP net loss attributable to
ordinary shareholders of Dada Group is net loss attributable to
ordinary shareholders of Dada Group excluding the impact of
share-based compensation expenses, amortization of intangible
assets resulting from business acquisition and tax benefit from
amortization of such intangible assets. 3 Non-GAAP net loss per
share is non-GAAP net loss attributable to ordinary shareholders of
Dada Group divided by weighted average number of shares used in
calculating net loss per share.
For more information, please visit https://ir.imdada.cn/.
For investor inquiries, please contact:
Dada Nexus LimitedMs. Caroline DongE-mail: ir@imdada.cn
Christensen
In ChinaMr. Rene VanguestainePhone: +86-178-1749 0483E-mail:
rvanguestaine@christensenir.com
In USMs. Linda BergkampPhone: +1-480-614-3004 E-mail:
lbergkamp@christensenir.com
For media inquiries, please
contact:
Dada Nexus Limited E-mail: PR@imdada.cn
Appendix I
DADA NEXUS LIMITED |
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS |
(Amounts in thousands, except share data and otherwise
noted) |
|
|
|
|
|
|
|
|
As of December 31, |
|
As of September
30, |
|
|
|
2019 |
|
2020 |
|
|
|
RMB |
|
RMB |
|
ASSETS |
|
|
|
|
|
Current assets |
|
|
|
|
|
Cash and cash equivalents |
|
1,154,653 |
|
2,753,040 |
|
Restricted cash |
|
1,480 |
|
94,531 |
|
Short-term investments |
|
957,370 |
|
852,780 |
|
Accounts receivable |
|
38,234 |
|
104,632 |
|
Inventories, net |
|
3,886 |
|
5,658 |
|
Amount due from related parties |
|
308,682 |
|
419,360 |
|
Prepayments and other current assets |
|
100,354 |
|
138,570 |
|
Total current assets |
|
2,564,659 |
|
4,368,571 |
|
Non-current assets |
|
|
|
|
|
Property and equipment, net |
|
42,044 |
|
41,364 |
|
Goodwill |
|
957,605 |
|
957,605 |
|
Intangible assets, net |
|
715,877 |
|
567,580 |
|
Operating lease right-of-use assets |
|
— |
|
96,927 |
|
Non-current time deposits |
|
— |
|
400,000 |
|
Other non-current assets |
|
5,930 |
|
10,573 |
|
Total non-current
assets |
|
1,721,456 |
|
2,074,049 |
|
|
|
|
|
|
|
TOTAL ASSETS |
|
4,286,115 |
|
6,442,620 |
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS’ DEFICIT |
|
|
|
|
|
Current liabilities |
|
|
|
|
|
Short-term loan |
|
— |
|
550,000 |
|
Accounts payable |
|
9,924 |
|
11,521 |
|
Payable to riders |
|
381,341 |
|
436,703 |
|
Amount due to related parties |
|
82,800 |
|
37,552 |
|
Accrued expenses and other current liabilities |
|
366,285 |
|
480,352 |
|
Operating lease liabilities |
|
— |
|
41,203 |
|
Total current liabilities |
|
840,350 |
|
1,557,331 |
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
Deferred tax liabilities |
|
43,701 |
|
39,814 |
|
Non-current operating lease liabilities |
|
— |
|
61,088 |
|
Total non-current liabilities |
|
43,701 |
|
100,902 |
|
|
|
|
|
|
|
TOTAL LIABILITIES |
|
884,051 |
|
1,658,233 |
|
|
|
|
|
|
|
DADA NEXUS LIMITED |
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(CONTINUED) |
(Amounts in thousands, except share data and otherwise
noted) |
|
|
|
|
|
|
|
|
As of December 31, |
|
As of September
30, |
|
|
|
2019 |
|
|
2020 |
|
|
|
|
RMB |
|
RMB |
|
|
|
|
|
|
|
TOTAL MEZZANINE EQUITY |
|
10,593,026 |
|
|
— |
|
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY
(DEFICIT) |
|
|
|
|
|
Ordinary shares (US$0.0001 par value, 1,499,945,349 and
2,000,000,000 shares authorized, 369,290,629 and 910,142,677 shares
issued, 369,290,629 and 898,428,565 shares outstanding as of
December 31, 2019 and September 30, 2020, respectively) |
|
237 |
|
|
611 |
|
|
Additional paid-in capital |
|
309,102 |
|
|
13,547,531 |
|
|
Subscription receivable |
|
(35 |
) |
|
(35 |
) |
|
Accumulated deficit |
|
(7,639,926 |
) |
|
(8,810,732 |
) |
|
Accumulated other comprehensive income |
|
139,660 |
|
|
47,012 |
|
|
TOTAL SHAREHOLDERS’ EQUITY
(DEFICIT) |
|
(7,190,962 |
) |
|
4,784,387 |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES, MAZZANINE EQUITY AND
SHAREHOLDERS’ EQUITY
(DEFICIT) |
|
4,286,115 |
|
|
6,442,620 |
|
|
DADA NEXUS LIMITED |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE LOSS |
(Amounts in thousands, except share and per share data and
otherwise noted) |
|
|
|
|
|
|
|
|
For the three months ended September
30, |
|
|
|
2019 |
|
|
2020 |
|
|
|
|
RMB |
|
RMB |
|
|
|
|
|
|
|
Net Revenues (including related-party revenues of
RMB378,926 and RMB670,890 for the three months ended September 30,
2019 and 2020, respectively) |
|
701,632 |
|
|
1,301,502 |
|
|
Costs and expenses |
|
|
|
|
|
Operations and support |
|
(657,387 |
) |
|
(1,018,168 |
) |
|
Selling and marketing |
|
(377,384 |
) |
|
(499,150 |
) |
|
General and administrative |
|
(73,050 |
) |
|
(121,135 |
) |
|
Research and development |
|
(88,193 |
) |
|
(103,117 |
) |
|
Other operating expenses |
|
(12,343 |
) |
|
(16,500 |
) |
|
Total costs and expenses |
|
(1,208,357 |
) |
|
(1,758,070 |
) |
|
Other operating income |
|
5,804 |
|
|
6,635 |
|
|
Loss from operations |
|
(500,921 |
) |
|
(449,933 |
) |
|
|
|
|
|
|
|
Other income/(expenses) |
|
|
|
|
|
Interest income |
|
23,634 |
|
|
18,717 |
|
|
Interest expenses |
|
— |
|
|
(4,066 |
) |
|
Total other income |
|
23,634 |
|
|
14,651 |
|
|
Loss before income tax benefits |
|
(477,287 |
) |
|
(435,282 |
) |
|
Income tax benefits |
|
2,258 |
|
|
1,253 |
|
|
Net loss |
|
(475,029 |
) |
|
(434,029 |
) |
|
Accretion of convertible redeemable preferred shares |
|
(209,871 |
) |
|
— |
|
|
Net loss attributable to ordinary shareholders of Dada
Group |
|
(684,900 |
) |
|
(434,029 |
) |
|
|
|
|
|
|
|
Net loss per share |
|
|
|
|
|
Basic |
|
(1.89 |
) |
|
(0.48 |
) |
|
Diluted |
|
(1.89 |
) |
|
(0.48 |
) |
|
|
|
|
|
|
|
Weighted average shares used in calculating net loss per
share |
|
|
|
|
|
Basic |
|
362,197,963 |
|
|
898,428,565 |
|
|
Diluted |
|
362,197,963 |
|
|
898,428,565 |
|
|
|
|
|
|
|
|
Net loss |
|
(475,029 |
) |
|
(434,029 |
) |
|
Other comprehensive income/(loss) |
|
|
|
|
|
Foreign currency translation adjustments |
|
37,182 |
|
|
(107,726 |
) |
|
Total comprehensive loss |
|
(437,847 |
) |
|
(541,755 |
) |
|
Reconciliations of GAAP and Non-GAAP
Results |
|
(Amounts in thousands, except share and per share data and
otherwise
noted) |
|
|
|
|
|
|
|
For the three months ended September
30, |
|
|
|
2019 |
|
|
2020 |
|
|
|
|
RMB |
|
RMB |
|
|
|
|
|
|
|
Loss from operations |
|
(500,921 |
) |
|
(449,933 |
) |
|
|
|
|
|
|
|
Add: |
|
|
|
|
|
Share-based compensation expense |
|
13,496 |
|
|
66,004 |
|
|
Intangible assets amortization |
|
52,505 |
|
|
45,231 |
|
|
Non-GAAP loss from operations |
|
(434,920 |
) |
|
(338,698 |
) |
|
|
|
|
|
|
|
Net loss |
|
(475,029 |
) |
|
(434,029 |
) |
|
|
|
|
|
|
|
Add: |
|
|
|
|
|
Share-based compensation expense |
|
13,496 |
|
|
66,004 |
|
|
Intangible assets amortization |
|
52,505 |
|
|
45,231 |
|
|
Income tax benefit |
|
(2,257 |
) |
|
(1,253 |
) |
|
Non-GAAP net loss |
|
(411,285 |
) |
|
(324,047 |
) |
|
|
|
|
|
|
|
Accretion of convertible redeemable preferred shares |
|
(209,871 |
) |
|
— |
|
|
|
|
|
|
|
|
Non-GAAP net loss attributable to ordinary shareholders of
Dada Group |
|
(621,156 |
) |
|
(324,047 |
) |
|
|
|
|
|
|
|
Non-GAAP net loss per share |
|
|
|
|
|
Basic |
|
(1.71 |
) |
|
(0.36 |
) |
|
Diluted |
|
(1.71 |
) |
|
(0.36 |
) |
|
|
|
|
|
|
|
Weighted average shares used in calculating net loss per
share |
|
|
|
|
|
Basic |
|
362,197,963 |
|
|
898,428,565 |
|
|
Diluted |
|
362,197,963 |
|
|
898,428,565 |
|
|
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