Dada Nexus Limited (NASDAQ: DADA, “Dada” or the “Company”), China’s
leading local on-demand delivery and retail platform, today
announced its unaudited financial results for the first quarter
ended March 31, 2022.
First Quarter 2022
Highlights
- Total
net revenues in the first quarter were RMB2,025.3
million.
- Total
Gross Merchandise Volume (“GMV”) of JDDJ for the twelve
months ended March 31, 2022 was RMB49.1 billion, an increase of
74.4% year over year from RMB28.1 billion in the same period of
2021.
- Number
of active consumers for the twelve months ended March 31,
2022 was 67.9 million, as compared with 46.1 million in the same
period of 2021.
“We are proud of our results in the first
quarter of 2022 and excited by the progress in our business, as we
gain trust from more consumers, riders, merchants, and brand
partners,” said Mr. Philip Kuai, Chairman and Chief Executive
Officer of Dada. “Since the completion of JD.com’s increased
investment in Dada, we have further strengthened collaboration
under the omni-channel strategy, to jointly explore the huge
potential in the on-demand retail industry. Amidst macro
challenges, we will stay focused to expand offerings to customers
and enable local merchants to succeed in the digital age.”
“Despite the pressures from the current macro
environment, our resilient business model helped us to achieve
another solid quarter and we believe the strong momentum will
continue,” said Beck Chen, Chief Financial Officer of Dada. “In the
first quarter, we achieved strong revenue growth and significant
operating profit margin improvement year over year on a comparable
basis1. While macro uncertainty remains in the near future, we will
continue to execute with discipline and are confident to achieve
decent growth with further improved profitability in following
quarters.”
First Quarter 2022 Financial
Results
Total net revenues were
RMB2,025.3 million.
|
|
For the three months ended March 31, |
|
|
|
2021 |
|
2022 |
|
|
|
(RMB in thousands) |
|
Net Revenue |
|
|
|
|
|
Dada Now |
|
|
|
|
|
Services |
|
883,063 |
|
606,204 |
|
Sales of goods |
|
11,428 |
|
16,847 |
|
Subtotal |
|
894,491 |
|
623,051 |
|
JDDJ |
|
|
|
|
|
Services note (1) |
|
778,272 |
|
1,402,270 |
|
Total |
|
1,672,763 |
|
2,025,321 |
|
Note: (1) Includes net revenues from (i)
commission fee, and advertising and marketing services of
RMB408,723 and RMB864,506 for the three months ended March 31, 2021
and 2022, respectively; and (ii) fulfillment services and others of
RMB369,549 and RMB537,764 for the three months ended March 31, 2021
and 2022, respectively.
- Net
revenues generated from Dada Now were RMB623.1 million.
The difference as compared to that of the first quarter of 2021 is
mainly due to the fact that effective from April 2021, the cost of
riders for last-mile delivery services has been directly paid
through third-party companies instead of through the Company. Thus
the Company no longer recognizes rider-related revenue and
rider-related costs in the income statement for the last-mile
delivery services. Aligning the revenue of Dada Now last-mile
delivery services to a comparable basis, revenue growth from Dada
Now would have been 61.5% year over year1, 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 were RMB1,402.3 million. The
difference as compared to that of the first quarter of 2021 is
mainly due to the increase in GMV from the same quarter last year,
which was driven by increases in the number of active consumers and
average order size. The increase in online marketing services
revenue as a result of the increasing promotional activities
launched by brand owners and retailers also contributed to the
increment of the net revenues generated from JDDJ.
Total costs and expenses were
RMB2,664.3 million, compared with RMB2,425.3 million in the same
quarter of 2021.
-
Operations and support costs were RMB1,270.3
million, compared with RMB1,395.0 million in the same quarter of
2021. The decrease was primarily due to the decrease of
rider-related cost incurred by business upgrade of last-mile
delivery services, partially offset by 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 RMB1,114.5 million, compared
with RMB790.7 million in the same quarter of 2021. The increase was
primarily due to (i) growing incentives to JDDJ consumers, (ii) an
increase in advertising and marketing expenses to attract new
consumers to JDDJ platform, and (iii) amortization of the business
cooperation agreement (“BCA”) in connection with the share
subscription transaction with JD.com in February 2022.
- General
and administrative expenses were RMB100.8 million,
compared with RMB102.7 million in the same quarter of 2021. The
decrease was primarily due to decreased share-based compensation
expenses.
-
Research and development expenses were RMB164.7
million, compared with RMB124.2 million in the same quarter of
2021. The increase was mainly attributable to the increase in
research and development personnel cost as the Company continues to
strengthen its technological capabilities.
Loss from operations was
RMB625.7 million, compared with RMB741.4 million in the same
quarter of 2021.
Non-GAAP loss from
operations2 was RMB501.4 million,
compared with RMB648.1 million in the same quarter of 2021.
Net loss was RMB604.2 million,
compared with RMB710.3 million in the same period of 2021.
Non-GAAP net
loss3 was RMB481.2 million, compared with
RMB618.1 million in the same period of 2021.
Net loss attributable to ordinary
shareholders of Dada was RMB604.2 million, compared with
RMB710.3 million in the same quarter of 2021.
Non-GAAP net loss attributable to
ordinary shareholders of Dada4 was
RMB481.2 million, compared with RMB618.1 million in the same
quarter of 2021.
Basic and diluted net loss per
share was RMB0.62, compared with RMB0.75 for the first
quarter of 2021.
Non-GAAP basic and diluted net loss per
share5 was RMB0.49, compared with RMB0.65
for the first quarter of 2021.
As of March 31, 2022, the Company had RMB4,616.7
million in cash, cash equivalents, restricted cash and
short-term investments, an increase from RMB1,764.8
million as of December 31, 2021.
Pursuant to our US$70 million share
repurchase program announced in March 2022, as of April 30,
2022, we had repurchased approximately US$17 million of ADSs under
this repurchase program.
Environment, Social Responsibility and
Corporate Governance
The Company continued to execute its ESG
strategy in the first quarter in a committed and proactive way:
- On March 8, the
International Women's Day, Dada partnered with merchants to launch
a care campaign for female riders, offering them with flowers and
other gifts.
- During
the COVID-19 pandemic resurgence in cities including Shenzhen,
Shanghai and Beijing, as an approved enterprise by local
governments to maintain the supply of daily necessities, Dada has
been actively involved in pandemic support initiatives to ensure
the supply and delivery of essentials for the people, providing
support and creating value for various stakeholders and society:
- For merchants:
we strive to provide delivery and picking capacity to support their
online operations.
- For consumers:
we ensure price stability of products sold on our platform through
continuous system monitoring.
- For riders:
after helping eligible riders obtain travel passes, we provide them
with special subsidies, and free personal protection equipment
and insurance. We also launched campaigns to reward those who
contribute the most during the pandemic.
- For public: we
donate personal protection equipment to governmental organizations.
We also help governmental agencies with the distribution of supply
packages to residents and medical supplies to patients.
Business Outlook
For the second quarter of 2022, Dada expects
total revenue to be between RMB2,250 million and RMB2,350 million.
Aligning the revenue of Dada Now last-mile delivery services to a
comparable basis in the second quarters of 2021 and 2022, total
revenue of the second quarter of 2022 will realize 59% to 66%
year-over-year growth1. 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.
____________1 Effective from April 2021, the
cost of riders for last-mile delivery services has been directly
paid through third-party companies instead of through the Company.
The Company no longer recognizes rider-related revenue and
rider-related costs in the income statement for the last-mile
delivery services. To help better understand the growth excluding
the change’s impact on revenue, the Company hereby presents the
year-over-year growth assuming excluding the cost of riders
directly paid during the comparative periods of current year and
last year.2 Non-GAAP loss from operations represents loss from
operations excluding the impact of share-based compensation
expenses, and amortization of intangible assets resulting from
business acquisition and asset acquisition.3 Non-GAAP net loss
represents net loss excluding the impact of share-based
compensation expenses, amortization of intangible assets resulting
from business acquisition and asset acquisition, and tax benefit
from amortization of such intangible assets.4 Non-GAAP net loss
attributable to ordinary shareholders of Dada is net loss
attributable to ordinary shareholders of Dada excluding the impact
of share-based compensation expenses, amortization of intangible
assets resulting from business acquisition and asset acquisition,
and tax benefit from amortization of such intangible assets.5
Non-GAAP net loss per share is non-GAAP net loss attributable to
ordinary shareholders of Dada divided by weighted average number of
shares used in calculating net loss per share.
Conference Call
The Company will host a conference call to
discuss the earnings at 9:30 p.m. Eastern Time on Monday, May 16,
2022 (9:30 a.m. Beijing time on Tuesday, May 17, 2022).
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/3376322
CONFERENCE ID: 3376322
A telephone replay of the call will be available
after the conclusion of the conference call through 09:59 a.m.
Eastern Time, May 24, 2022.
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 |
8009-880-601 |
Hong Kong |
800-963-117 |
Passcode: |
3376322# |
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 and
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada 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 is net income/(loss) attributable to ordinary shareholders of
Dada 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 per share is non-GAAP net income/(loss)
attributable to ordinary shareholders of Dada 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, and
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada 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, and non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada 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 and non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada 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 and
net income/(loss) attributable to ordinary shareholders of Dada 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
Dada 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.
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 March 31, |
|
|
|
|
2021 |
|
|
2022 |
|
|
|
|
RMB |
|
|
RMB |
|
|
ASSETS |
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
512,830 |
|
|
2,762,514 |
|
|
Restricted cash |
|
58,020 |
|
|
127,498 |
|
|
Short-term investments |
|
1,193,909 |
|
|
1,726,640 |
|
|
Accounts receivable |
|
352,324 |
|
|
289,523 |
|
|
Inventories, net |
|
6,344 |
|
|
5,779 |
|
|
Amount due from related parties |
|
840,667 |
|
|
995,975 |
|
|
Prepayments and other current assets |
|
479,017 |
|
|
360,361 |
|
|
Total current assets |
|
3,443,111 |
|
|
6,268,290 |
|
|
Non-current assets |
|
|
|
|
|
|
|
Property and equipment, net |
|
37,555 |
|
|
32,842 |
|
|
Goodwill |
|
957,605 |
|
|
957,605 |
|
|
Intangible assets, net |
|
332,317 |
|
|
1,866,868 |
|
|
Operating lease right-of-use assets |
|
76,811 |
|
|
66,297 |
|
|
Non-current time deposits |
|
400,000 |
|
|
400,000 |
|
|
Other non-current assets |
|
33,181 |
|
|
35,858 |
|
|
Total non-current assets |
|
1,837,469 |
|
|
3,359,470 |
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS |
|
5,280,580 |
|
|
9,627,760 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
Short-term loan |
|
100,000 |
|
|
100,000 |
|
|
Accounts payable |
|
9,800 |
|
|
11,146 |
|
|
Payable to riders and drivers |
|
580,983 |
|
|
506,751 |
|
|
Amount due to related parties |
|
71,760 |
|
|
115,698 |
|
|
Accrued expenses and other current liabilities |
|
620,406 |
|
|
571,846 |
|
|
Operating lease liabilities |
|
35,759 |
|
|
32,317 |
|
|
Total current liabilities |
|
1,418,708 |
|
|
1,337,758 |
|
|
|
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
|
|
Deferred tax liabilities |
|
27,000 |
|
|
25,747 |
|
|
Non-current operating lease liabilities |
|
46,243 |
|
|
38,863 |
|
|
Total non-current liabilities |
|
73,243 |
|
|
64,610 |
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
|
1,491,951 |
|
|
1,402,368 |
|
|
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
Ordinary shares (US$0.0001 par value, 2,000,000,000 and
2,000,000,000 shares authorized, 955,876,116 and 1,074,060,674
shares issued, 927,776,552 and 1,041,107,850 shares outstanding as
of December 31, 2021 and March 31, 2022, respectively) |
|
633 |
|
|
644 |
|
|
Additional paid-in capital |
|
15,714,015 |
|
|
20,758,707 |
|
|
Accumulated deficit |
|
(11,816,229 |
) |
|
(12,420,469 |
) |
|
Accumulated other comprehensive loss |
|
(109,790 |
) |
|
(113,490 |
) |
|
TOTAL SHAREHOLDERS’ EQUITY |
|
3,788,629 |
|
|
8,225,392 |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
5,280,580 |
|
|
9,627,760 |
|
|
DADA NEXUS
LIMITEDUNAUDITED 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 March 31, |
|
|
|
2021 |
|
|
2022 |
|
|
|
|
RMB |
|
RMB |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenues |
|
1,672,763 |
|
|
2,025,321 |
|
|
Costs and expenses |
|
|
|
|
|
Operations and support |
|
(1,394,991 |
) |
|
(1,270,273 |
) |
|
Selling and marketing |
|
(790,718 |
) |
|
(1,114,464 |
) |
|
General and administrative |
|
(102,737 |
) |
|
(100,809 |
) |
|
Research and development |
|
(124,198 |
) |
|
(164,673 |
) |
|
Other operating expenses |
|
(12,607 |
) |
|
(14,038 |
) |
|
Total costs and expenses |
|
(2,425,251 |
) |
|
(2,664,257 |
) |
|
Other operating income |
|
11,042 |
|
|
13,248 |
|
|
Loss from operations |
|
(741,446 |
) |
|
(625,688 |
) |
|
|
|
|
|
|
|
Other income/(expenses) |
|
|
|
|
|
Interest income |
|
35,582 |
|
|
14,103 |
|
|
Interest expenses |
|
(5,399 |
) |
|
(822 |
) |
|
Foreign exchange gain/(loss) |
|
(260 |
) |
|
6,914 |
|
|
Total other income |
|
29,923 |
|
|
20,195 |
|
|
Loss before income tax benefits |
|
(711,523 |
) |
|
(605,493 |
) |
|
Income tax benefits |
|
1,253 |
|
|
1,253 |
|
|
Net loss |
|
(710,270 |
) |
|
(604,240 |
) |
|
Accretion of convertible redeemable preferred shares |
|
— |
|
|
— |
|
|
Net loss attributable to ordinary shareholders of Dada
Group |
|
(710,270 |
) |
|
(604,240 |
) |
|
|
|
|
|
|
|
Net loss per share |
|
|
|
|
|
Basic |
|
(0.75 |
) |
|
(0.62 |
) |
|
Diluted |
|
(0.75 |
) |
|
(0.62 |
) |
|
|
|
|
|
|
|
Weighted average shares used in calculating net loss per
share |
|
|
|
|
|
Basic |
|
950,251,619 |
|
|
972,608,175 |
|
|
Diluted |
|
950,251,619 |
|
|
972,608,175 |
|
|
|
|
|
|
|
|
Net loss |
|
(710,270 |
) |
|
(604,240 |
) |
|
Other comprehensive loss |
|
|
|
|
|
Foreign currency translation adjustments, net of tax of nil |
|
(15,174 |
) |
|
(3,700 |
) |
|
Total comprehensive loss |
|
(725,444 |
) |
|
(607,940 |
) |
|
DADA NEXUS
LIMITEDReconciliations of GAAP and Non-GAAP
Results(Amounts in thousands, except share and per
share data and otherwise noted)
|
|
|
|
|
|
|
For the three months ended March 31, |
|
|
|
2021 |
|
|
2022 |
|
|
|
|
RMB |
|
RMB |
|
|
|
|
|
|
|
Loss from operations |
|
(741,446 |
) |
|
(625,688 |
) |
|
Add: |
|
|
|
|
|
Share-based compensation expense |
|
50,103 |
|
|
55,012 |
|
|
Intangible assets amortization |
|
43,278 |
|
|
69,313 |
|
|
Non-GAAP loss from operations |
|
(648,065 |
) |
|
(501,363 |
) |
|
|
|
|
|
|
|
Net loss |
|
(710,270 |
) |
|
(604,240 |
) |
|
Add: |
|
|
|
|
|
Share-based compensation expense |
|
50,103 |
|
|
55,012 |
|
|
Intangible assets amortization |
|
43,278 |
|
|
69,313 |
|
|
Income tax benefit |
|
(1,253 |
) |
|
(1,253 |
) |
|
Non-GAAP net loss |
|
(618,142 |
) |
|
(481,168 |
) |
|
|
|
|
|
|
|
Accretion of convertible redeemable preferred shares |
|
— |
|
|
— |
|
|
|
|
|
|
|
|
Non-GAAP net loss attributable to ordinary shareholders of
Dada Group |
|
(618,142 |
) |
|
(481,168 |
) |
|
|
|
|
|
|
|
Non-GAAP net loss per share |
|
|
|
|
|
Basic |
|
(0.65 |
) |
|
(0.49 |
) |
|
Diluted |
|
(0.65 |
) |
|
(0.49 |
) |
|
|
|
|
|
|
|
Weighted average shares used in calculating net loss per
share |
|
|
|
|
|
Basic |
|
950,251,619 |
|
|
972,608,175 |
|
|
Diluted |
|
950,251,619 |
|
|
972,608,175 |
|
|
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