BEIJING, Nov. 19, 2018 /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, 2018.
Third Quarter 2018 Operational and Financial
Highlights:
- Credit card volume[1] was approximately 2.0 million
in the third quarter of 2018, representing an increase of
approximately 81.8% from the same period of 2017. The average fee
per credit card increased by 47.7% to RMB103.59 (US$15.08) in the third quarter of 2018 from
RMB70.13 in the third quarter of
2017. As a result, revenues for credit cards[1] in the
third quarter of 2018 increased by 175% to RMB204.9 million (US$29.8
million) from RMB74.5 million
in the same period of 2017.
- Gross margin was 89.3% in the third quarter of 2018, compared
with 87.9% in the second quarter of 2018.
- Sales and marketing expenses (excluding share-based
compensation) as a percentage of revenues was approximately 76.3%
in the third quarter of 2018, compared with approximately
82.9% in the same period of
2017 and approximately 85.1% in the previous quarter.
- Non-GAAP adjusted net loss[2] was RMB19.8 million (US$2.9
million) in the third quarter of 2018, improved from
adjusted net loss of RMB28.5 million
in the second quarter of 2018. Non-GAAP adjusted net
margin[2] improved to -4.5% from -5.8% in the second
quarter of 2018.
- Net loss was RMB53.5 million
(US$7.8 million) in the third quarter
of 2018, improved from net loss of RMB61.1
million in the second quarter of 2018. Net loss margin was
-12.1% in the third quarter of 2018 compared with -12.5% in the
second quarter of 2018.
First Nine Months 2018 Operational and Financial
Highlights:
- Credit card volume[1] was approximately 5.1 million
in the first nine months of 2018, representing an increase of
approximately 155% from the same period of 2017. The average fee
per credit card increased by 40.2% to RMB99.79 (US$14.53)
in the first nine months of 2018 from RMB71.19 in the same period of 2017. As a result,
revenues for credit cards[1] for the first nine months
of 2018 increased by 268% to RMB510.4
million (US$74.3 million) from
RMB138.8 million in the same period
of 2017.
- Gross profit increased by 43.1% to RMB1,114.0 million (US$162.2 million) in the first nine months of
2018 from RMB778.6 million in the
same period of 2017.
- Sales and marketing expenses (excluding share-based
compensation) as a percentage of revenues was approximately 79.9%
in first nine months of 2018, compared with approximately
84.5% in the same period of
2017.
- Non-GAAP adjusted net loss was RMB68.1
million (US$9.9 million) in
the first nine months of 2018, compared with adjusted net loss of
RMB64.1 million in the same period of
2017. Non-GAAP adjusted net margin improved to -5.4% from -7.4% in
the same period of 2017.
- Net loss was RMB171.7 million
(US$25.0 million) in the first nine
months of 2018, compared with net loss of RMB65.7 million in the same period of 2017. Net
loss margin was -13.5% in the first nine months of 2018 compared
with -7.6% in the same period of 2017.
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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(In millions except
for per price data)
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2018
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|
2017
|
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Change
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2018
|
|
2017
|
|
Change
|
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RMB
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RMB
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%
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RMB
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RMB
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%
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Credit card
volume[1]
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2.0
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1.1
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81.8%
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5.1
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2.0
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155%
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The average fee
per credit card
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103.59
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70.13
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47.7%
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99.79
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71.19
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40.2%
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Number of loan
applications
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13.3
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28.2
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(52.8%)
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46.6
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57.3
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(18.7%)
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The average fee
per loan application
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14.50
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13.36
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8.5%
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13.85
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12.04
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15.0%
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[1] Credit
card volume, which is the measure of the number of credit cards the
company generates revenues from during the period presented,
including for both recommendation services and advertising and
marketing services; Revenues for credit cards represent revenues
generated from both recommendation services and advertising and
marketing services for credit cards during the period
presented;
[2] Non-GAAP adjusted net margin equals non-GAAP
adjusted net loss divided by total revenue. Non-GAAP adjusted net
loss represents net loss before share-based compensation expenses.
There is no income tax impact of the non-GAAP adjustment of
share-based compensation expenses. See "Unaudited Reconciliations
of GAAP and Non-GAAP Results" for more details for non-GAAP
adjusted net loss.
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Mr. David Ye, Chairman and Chief
Executive Officer of Jianpu, commented, "During the third quarter,
we kept our focus on capturing market dynamics through our uniquely
technology-driven and diversified platform, while improving our
operating efficiencies by adding and strengthening FSPs portfolio
and enhancing user engagement. We maintained robust momentum in our
credit card business this quarter posting a 175% year-over-year
increase in revenue, and we also exhibited strong growth in our big
data and risk management business which achieved a 180%
year-over-year revenue increase. Also, we are delighted with the
healthy ROI improvement for the quarter, as we have opted for more
balanced strategy between growth and efficiency and benefiting from
the traffic growth driven by social media and partner
initiatives."
"Despite weak sentiment on the macro economy and continued
credit tightening in the quarter, we have observed a subsequent
recovery in September and coming into the fourth quarter. We are
confident that we are in a position to further benefit from
stronger consumer and SME demand and growth at FSPs side as the
operating environment further improves," concluded Mr. Ye.
"We are pleased to report that Jianpu delivered respectable
financial and operational results for the third quarter of 2018
despite of macro slowdown," said
Oscar Chen, Chief Financial Officer
of Jianpu. "Total revenues for the third quarter of 2018 reached
RMB443.7 million (US$64.6 million), exceeding our previous guidance
by 7%. In addition, we further reduced our adjusted net loss margin
to -4.5% from -5.8% in the last quarter, which is largely
attributable to the improvement of operating efficiencies. Looking
ahead, we maintain our utmost confidence in our business strategy,
strong fundamentals and long-term prospects, as well as our
commitment to maximize shareholder value."
Third Quarter 2018 Financial Results
Total revenues for the third quarter of 2018 decreased by
5.1% to RMB443.7 million
(US$64.6 million) from RMB467.7 million in the same period of 2017.
Total revenues from recommendation services decreased by
14.0% to RMB376.9 million
(US$54.9 million) in the third
quarter of 2018 from RMB438.4 million
in the same period of 2017.
Revenues from recommendation services for credit cards
increased by 197% to RMB183.5 million
(US$26.7 million) in the third
quarter of 2018 from RMB61.8 million
in the third quarter of 2017, due to the increase in both credit
card volume and average fee per credit card. Despite the slowdown
of lending activities experienced in the third quarter of 2018, the
consumer demand towards credit cards remained strong. Credit card
volume for recommendation services[3] in third quarter
of 2018 was approximately 1.7 million, representing an increase of
approximately 143% from the same period of 2017. The average fee
per credit card for recommendation services increased to
RMB106.10 (US$15.45) in the third quarter of 2018 from
RMB90.40 in the same period of
2017.
Revenues from recommendation services for loans decreased
by 48.7% to RMB193.3 million
(US$28.2 million) in the third
quarter of 2018 from RMB376.6 million
in the same period of 2017, primarily due to the credit and
liquidity tightening across the board in the third quarter
resulting in a decrease in the number of loan applications on the
Company's platform, partially offset by the increase in the average
fee per loan application. The number of loan applications on the
Company's platform was approximately 13.3 million in the third
quarter of 2018, representing a decrease of approximately 52.8%
from the same period of 2017. The average fee per loan application
increased to RMB14.50 (US$2.11) in the third quarter of 2018 from
RMB13.36 in the third quarter of
2017.
Revenues from advertising and marketing services and other
services increased by 128% to RMB66.9
million (US$9.7 million) in
the third quarter of 2018 from RMB29.3
million in the same period of 2017, primarily due to an
increase in revenues from big data and risk management solutions as
well as an increase in the advertising services provided to credit
card issuers.
Cost of revenues increased by 13.4% to RMB47.4 million (US$6.9
million) in the third quarter of 2018 from RMB41.8 million in the same period of 2017. The
increase was primarily due to the increase in direct costs relating
to advertising and marketing services revenue and consistent with
the increase of the revenue from advertising services.
Gross profit decreased by 6.9% to RMB396.4 million (US$57.7
million) in the third quarter of 2018 from RMB426.0 million in the same period of 2017. The
decrease was primarily attributable to decrease in revenue. Gross
margin was 89.3% in the third quarter of 2018.
Sales and marketing expenses decreased by 12.1% to
RMB341.0 million (US$49.6 million) in the third quarter of 2018
from RMB387.8 million in the same
period of 2017. The decrease was mainly due to the improvement on
ROI particularly on the traffic acquisition front, and, to a lesser
extent, the decrease of revenues from recommendation services.
Research and development expenses increased by 81.9% to
RMB63.5 million (US$9.2 million) in the third quarter of 2018 from
RMB34.9 million in the same period of
2017, primarily due to the increase in payroll costs and
share-based compensation mainly related to the hiring of new
R&D staff to further enhance our technology capabilities in
terms of big data, machine learning and artificial
intelligence.
General and administrative expenses increased by 221% to
RMB48.4 million (US$7.0 million) in the third quarter of 2018 from
RMB15.1 million in the same period of
2017. The increase was primarily due to recognition of share-based
compensation, including the impact of the options granted prior to
the IPO with a performance target contingent upon the IPO and the
options granted after the IPO, as well as increase in 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 the third
quarter 2018 were RMB33.7 million
(US$4.9 million) in total.
Income tax benefits were RMB0.4
million (US$0.1 million) in
the third quarter of 2018, compared with income tax expenses of
RMB4.7 million in the same period of
2017. Contributed by the change of the cost and expenses structure,
the annualized tax rate for 2018 was decreased.
Net loss was RMB53.5
million (US$7.8 million) in
the third quarter of 2018 from RMB16.7
million in the same period of 2017. Net loss margin was
-12.1% in the third quarter of 2018 compared with -3.6% in the same
period of 2017. The increase was primarily due to the increase in
share-based compensation expenses.
Non-GAAP adjusted net loss, which excluded share-based
compensation expenses from net loss, was RMB19.8 million (US$2.9
million) in the third quarter of 2018, compared with
RMB16.3 million in the same period of
2017.
Non-GAAP adjusted EBITDA[4], which excluded
share-based compensation expenses, depreciation and amortization,
interest income and expenses, and income tax expenses or benefits
from net loss, for the third quarter of 2018 was a loss of
RMB12.6 million (US$1.8 million), compared with a loss of
RMB9.9 million in the same period of
2017.
As of September 30, 2018, the
Company had cash and cash equivalents, restricted time deposits and
short-term investment of RMB1,378.6
million (US$200.7 million),
and working capital of approximately RMB1,453.4 million (US$211.6 million). Compared to as of June 30, 2018, cash and cash equivalents,
restricted time deposits and short-term investment decreased by
RMB75.5 million (US$11.0 million), which was attributable to net
cash used in operating activities.
[3] Credit
card volume for recommendation services is the credit card volume
as referred to in the preceding note 2 minus the credit card volume
for advertising and marketing services; Revenues from
recommendation services for credit cards is revenues from credit
cards as referred to in the preceding note 2 minus revenues from
advertising and marketing services for credit cards.
[4] Non-GAAP adjusted EBITDA represents EBITDA before
share-based compensation expenses. EBITDA represents net loss
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 2018 Financial Results
Total revenues for the first nine months of 2018
increased by 47.5% to RMB1,269.7
million (US$184.9 million)
from RMB861.1 million for the same
period of 2017, primarily due to increase in revenues both from
recommendation services for credit cards and advertising and
marketing services and other services.
Total revenues from recommendation services increased by
38.3% to RMB1,107.1 million
(US$161.2 million) in the first nine
months of 2018 from RMB800.5 million
in the same period of 2017.
Revenues from recommendation services for credit cards
increased by 319% to RMB461.8 million
(US$67.2 million) in the first nine
months of 2018 from RMB110.3 million
in the first nine months of 2017, due to an increase in the credit
card volume and average fee per credit card[3] in the
first nine months of 2018 was approximately 4.6 million,
representing an increase of approximately 254% from the same period
of 2017. The average fee per credit card for recommendation
services increased to RMB101.31
(US$14.75) in the first nine months
of 2018 from RMB82.81 in the first
nine months of 2017.
Revenues from recommendation services for loans decreased
by 6.5% to RMB645.3 million
(US$94.0 million) in the first nine
months of 2018 from RMB690.1 million
in the first nine months of 2017, primarily due to the decrease in
the number of loan applications on the Company's platform and
partially offset by increase in the average fee per loan
application. The number of loan applications on the Company's
platform was approximately 46.6 million in the first nine months of
2018, representing a decrease of approximately 18.7% from the same
period of 2017, mainly attributable to the slow-down in lending
activities due to credit and liquidity tightening in the third
quarter of 2018. The average fee per loan application increased to
RMB13.85 (US$2.02) in the first nine months of 2018 from
RMB12.04 in the same period of
2017.
Revenues from advertising and marketing services and other
services increased by 168% to RMB162.6
million (US$23.7 million) in
the first nine months of 2018 from RMB60.7
million in the same period of 2017, primarily due to an
increase in revenues from big data and risk management solutions,
as well as an increase in the advertising services provided to
credit card issuers.
Cost of revenues increased by 88.6% to RMB155.8 million (US$22.7
million) in the first nine months of 2018 from RMB82.6 million in the same period of 2017. The
increase was primarily attributable to the increase in direct costs
relating to advertising and marketing services revenue, bandwidth
and server hosting costs, depreciation and online payment
processing fees.
Gross profit increased by 43.1% to RMB1,114.0 million (US$162.2 million) in the first nine months of
2018 from RMB778.6 million in the
same period of 2017. The increase was primarily attributable to
continuing growth in total revenue.
Sales and marketing expenses increased by 40.3% to
RMB1,020.9 million (US$148.7 million) in the first nine months of
2018 from RMB727.9 million in the
same period of 2017. The increase was mainly due to growth in
advertising spending for business development and payroll related
costs.
Research and development expenses increased by 100% to
RMB159.6 million (US$23.2 million) in the first nine months of 2018
from RMB79.7 million in the same
period of 2017, primarily due to the increase in payroll costs and
share based-compensation mainly related to the hiring of new
R&D staff to further enhance our technology capabilities in
terms of big data, machine learning and artificial
intelligence.
General and administrative expenses increased by 383% to
RMB129.0 million (US$18.8 million) in the first nine months of 2018
from RMB26.7 million in the same
period of 2017. The increase was primarily due to recognition
of share-based compensation, including the impact of the options
granted prior to the IPO with a performance target contingent upon
the IPO and the options granted after the IPO, as well as increase
in 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 the first nine
months of 2018 were RMB103.6 million
(US$15.1 million) in total.
Income tax benefits were RMB11.7
million (US$1.7 million) in
the first nine months of 2018, compared with the income tax
expenses of RMB9.8 million in the
same period of 2017. Contributed by the change of the cost and
expenses structure, the annualized tax rate for 2018 was
decreased.
Net loss increased by 161% to RMB171.7 million (US$25.0
million) in the first nine months of 2018 from RMB65.7 million in the same period of 2017. Net
margin was -13.5% in the first nine months of 2018 compared with
-7.6% in the same period of 2017. The increase was primarily due to
the increase in share-based compensation expenses.
Non-GAAP adjusted net loss, which excluded share-based
compensation expenses from net loss, increased by 6.2% to
RMB68.1 million (US$9.9million) in the first nine months of 2018
from RMB64.1 million in the same
period of 2017. Non-GAAP adjusted net margin improved to -5.4% from
-7.4% in the same period of 2017.
Non-GAAP adjusted EBITDA, which excluded share-based
compensation expenses, depreciation and amortization, interest
income and expenses, and income tax expenses or benefits from net
loss, for the first nine months of 2018 was a loss of RMB67.5 million (US$9.8
million), compared with a loss of RMB50.7 million in the same period of 2017.
Compared to as of December 31,
2017, cash and cash equivalents, restricted time deposits
and short-term investment decreased by RMB165.2 million (US$24.0
million), which was attributable to net cash used in both
operating activities and investing activities.
Share Repurchase Program
On August 24, 2018, the Company
announced that its board of directors had approved a share
repurchase program to repurchase its own 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. As of November
16, 2018, the Company had repurchased approximately
4.9 million US dollar of shares under
this program, and we will continue our repurchase efforts during
the next three quarters.
Outlook
Based on the information available as of the date of this press
release, the Company provides the following outlook, which reflects
the Company's current and preliminary view, which is subject to
change.
Fourth Quarter 2018
Based on the Company's current estimates, total revenues for the
fourth quarter of 2018 are expected to be approximately
RMB680 million, representing an
increase of approximately 16.3% on a year-over-year basis.
Conference Call
The Company's management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on
November 19, 2018 (9:00 PM Beijing/Hong Kong Time on November 19, 2018).
Dial-in details for the earnings conference call are as
follows:
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 (toll
free):
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800-905-945
|
Hong Kong:
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+852-3018-4992
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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 November 26, 2018, by dialing the following
telephone numbers:
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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10126149
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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 use adjusted EBITDA and adjusted net loss, 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
help identify underlying trends in our business that could
otherwise be distorted by the effect of the expenses and gains that
we include in loss from operations and net loss. The Company
believes that adjusted EBITDA and adjusted net loss 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 should not be considered
in isolation or construed as alternatives to net loss 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 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. EBITDA represents net loss before interest,
tax, depreciation and amortization.
Adjusted net loss represents net loss before share-based
compensation expenses.
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.
Exchange Rate Information
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 RMB6.8680 to US$1.00, the rate in effect as of September 28, 2018 as certified for customs
purposes by the Federal Reserve Bank of New York.
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.
Ross Warner
Tel: +86 (10) 5730-6202
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)
|
2017
|
|
2018
|
|
2018
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
1,543,811
|
|
1,201,807
|
|
174,986
|
Restricted time
deposits
|
-
|
|
119,698
|
|
17,428
|
Short-term
investment
|
-
|
|
57,137
|
|
8,319
|
Accounts receivable,
net (including amounts billed through
RONG360 of RMB141,190 and RMB168,794 as of
December 31, 2017 and September 30, 2018, respectively)
|
182,090
|
|
349,908
|
|
50,948
|
Prepayments and other
current assets
|
161,027
|
|
169,048
|
|
24,614
|
Total current
assets
|
1,886,928
|
|
1,897,598
|
|
276,295
|
Non-current
assets:
|
|
|
|
|
|
Property, equipment
and software, net
|
18,966
|
|
37,419
|
|
5,448
|
Intangible assets,
net
|
-
|
|
116,876
|
|
17,017
|
Goodwill
|
-
|
|
147,296
|
|
21,447
|
Other non-current
assets
|
7,621
|
|
17,614
|
|
2,564
|
Total non-current
assets
|
26,587
|
|
319,205
|
|
46,476
|
Total
assets
|
1,913,515
|
|
2,216,803
|
|
322,771
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Short-term
borrowings
|
-
|
|
100,000
|
|
14,560
|
Accounts
payable
|
177,373
|
|
130,555
|
|
19,009
|
Advances from
customers
|
71,538
|
|
94,519
|
|
13,762
|
Tax
payable
|
17,876
|
|
7,178
|
|
1,045
|
Amount due to related
party
|
35,427
|
|
18,629
|
|
2,712
|
Accrued expenses and
other current liabilities
|
72,839
|
|
93,280
|
|
13,582
|
Total current
liabilities
|
375,053
|
|
444,161
|
|
64,670
|
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
|
Deferred tax
liabilities
|
-
|
|
17,531
|
|
2,553
|
Other non-current
liabilities
|
-
|
|
22,212
|
|
3,234
|
Total non-current
liabilities
|
-
|
|
39,743
|
|
5,787
|
Total
liabilities
|
375,053
|
|
483,904
|
|
70,457
|
|
|
|
|
|
|
Shareholders'
equity:
|
|
|
|
|
|
Ordinary shares:
US$0.0001 par value, 1,500,000,000 shares
authorized, 414,291,350 shares (including 68,750,000 Class A
ordinary shares, 345,541,350 Class B ordinary shares) issued
and outstanding as of December 31, 2017, and 428,063,797
shares(including 325,592,002 Class A ordinary shares and
102,471,795 Class B ordinary shares) issued and 420,043,629
shares (including 317,571,834 Class A ordinary shares and
102,471,795 Class B ordinary shares) outstanding as of
September 30, 2018, respectively
|
275
|
|
284
|
|
41
|
Treasury stock, at
cost (Nil and 8,020,168 shares held as of
December 31, 2017 and September 30, 2018, respectively)
|
-
|
|
(3,372)
|
|
(491)
|
Additional paid in
capital
|
1,734,067
|
|
1,932,063
|
|
281,314
|
Accumulated
losses
|
(174,710)
|
|
(348,685)
|
|
(50,770)
|
Other comprehensive
(loss)/income
|
(21,170)
|
|
39,460
|
|
5,745
|
Total Jianpu's shareholders'
equity
|
1,538,462
|
|
1,619,750
|
|
235,839
|
Noncontrolling
interests
|
-
|
|
113,149
|
|
16,475
|
Total
shareholders' equity
|
1,538,462
|
|
1,732,899
|
|
252,314
|
Total liabilities
and shareholders' equity
|
1,913,515
|
|
2,216,803
|
|
322,771
|
Jianpu Technology
Inc.
Unaudited Interim Condensed Consolidated Statements of
Comprehensive Loss
|
|
|
|
For the three
months ended September 30,
|
|
For the nine
months ended September 30,
|
(In thousands except
for number of shares and per share data)
|
|
2017
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2018
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
Recommendation
services:
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans[a]
|
|
376,631
|
|
193,337
|
|
28,150
|
|
690,139
|
|
645,326
|
|
93,961
|
Credit
cards
|
|
61,785
|
|
183,517
|
|
26,721
|
|
110,338
|
|
461,808
|
|
67,241
|
Total recommendation
services
|
|
438,416
|
|
376,854
|
|
54,871
|
|
800,477
|
|
1,107,134
|
|
161,202
|
Advertising,
marketing and other services[b]
|
|
29,325
|
|
66,864
|
|
9,736
|
|
60,652
|
|
162,608
|
|
23,676
|
Total
revenues
|
|
467,741
|
|
443,718
|
|
64,607
|
|
861,129
|
|
1,269,742
|
|
184,878
|
Cost of
revenues
|
|
(41,787)
|
|
(47,364)
|
|
(6,896)
|
|
(82,574)
|
|
(155,772)
|
|
(22,681)
|
Gross
profit
|
|
425,954
|
|
396,354
|
|
57,711
|
|
778,555
|
|
1,113,970
|
|
162,197
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and
marketing[c]
|
|
(387,837)
|
|
(340,961)
|
|
(49,645)
|
|
(727,871)
|
|
(1,020,945)
|
|
(148,652)
|
Research and
development
|
|
(34,857)
|
|
(63,523)
|
|
(9,249)
|
|
(79,659)
|
|
(159,563)
|
|
(23,233)
|
General and
administrative
|
|
(15,079)
|
|
(48,381)
|
|
(7,044)
|
|
(26,731)
|
|
(128,956)
|
|
(18,776)
|
Loss from
operations
|
|
(11,819)
|
|
(56,511)
|
|
(8,227)
|
|
(55,706)
|
|
(195,494)
|
|
(28,464)
|
Net interest
income
|
|
-
|
|
1,081
|
|
157
|
|
-
|
|
3,747
|
|
546
|
Others,
net
|
|
(110)
|
|
1,467
|
|
214
|
|
(169)
|
|
8,391
|
|
1,222
|
Loss before income
tax
|
|
(11,929)
|
|
(53,963)
|
|
(7,856)
|
|
(55,875)
|
|
(183,356)
|
|
(26,696)
|
Income tax (expenses)
/ benefits
|
|
(4,741)
|
|
424
|
|
62
|
|
(9,838)
|
|
11,667
|
|
1,699
|
Net
loss
|
|
(16,670)
|
|
(53,539)
|
|
(7,794)
|
|
(65,713)
|
|
(171,689)
|
|
(24,997)
|
Net income
attributable to noncontrolling interests
|
|
-
|
|
1,570
|
|
229
|
|
-
|
|
2,286
|
|
333
|
Net loss
attributable to Jianpu's shareholders
|
|
(16,670)
|
|
(55,109)
|
|
(8,023)
|
|
(65,713)
|
|
(173,975)
|
|
(25,330)
|
Other
comprehensive income, net
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
|
-
|
|
50,151
|
|
7,302
|
|
-
|
|
61,393
|
|
8,939
|
Total other
comprehensive income
|
|
-
|
|
50,151
|
|
7,302
|
|
-
|
|
61,393
|
|
8,939
|
Total
comprehensive loss
|
|
(16,670)
|
|
(3,388)
|
|
(492)
|
|
(65,713)
|
|
(110,296)
|
|
(16,058)
|
Total comprehensive
income attributable to noncontrolling interests
|
|
-
|
|
1,994
|
|
290
|
|
-
|
|
3,050
|
|
444
|
Total
comprehensive loss attributable to Jianpu's
shareholders
|
|
(16,670)
|
|
(5,382)
|
|
(782)
|
|
(65,713)
|
|
(113,346)
|
|
(16,502)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[a] Including revenues from related party of
RMB22.8 million and RMB25.0 million for the three months ended
September 30, 2018 and 2017,
respectively. RMB86.5 million and
RMB88.3 million for the nine months
ended September 30, 2018 and 2017,
respectively.
[b] Including revenues from related party of
RMB4.4 million and nil for the three
months ended September 30, 2018 and
2017, respectively. RMB10.7 million
and nil for the nine months ended September
30, 2018 and 2017, respectively.
[c] Including expenses from related party of
RMB18.7 million and nil for the three
months ended September 30, 2018 and
2017, respectively. RMB18.7 million
and nil for the nine months ended September
30, 2018 and 2017, 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)
|
|
2017
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2018
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Net loss per share
attributable to Jianpu's shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
|
(0.05)
|
|
(0.13)
|
|
(0.02)
|
|
(0.19)
|
|
(0.42)
|
|
(0.06)
|
Net loss per ADS
attributable to Jianpu's shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
|
(0.13)
|
|
(0.33)
|
|
(0.05)
|
|
(0.48)
|
|
(1.05)
|
|
(0.15)
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
|
345,541,350
|
|
420,058,949
|
|
420,058,949
|
|
345,541,350
|
|
417,165,368
|
|
417,165,368
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss
|
|
(16,670)
|
|
(53,539)
|
|
(7,794)
|
|
(65,713)
|
|
(171,689)
|
|
(24,997)
|
Add: Share-based
compensation expenses
|
|
416
|
|
33,735
|
|
4,912
|
|
1,608
|
|
103,593
|
|
15,083
|
Non-GAAP adjusted net
loss
|
|
(16,254)
|
|
(19,804)
|
|
(2,882)
|
|
(64,105)
|
|
(68,096)
|
|
(9,914)
|
Add: Depreciation and
amortization
|
|
1,635
|
|
8,669
|
|
1,262
|
|
3,600
|
|
16,059
|
|
2,338
|
Net interest
income
|
|
-
|
|
(1,081)
|
|
(157)
|
|
-
|
|
(3,747)
|
|
(546)
|
Income tax
expenses/(benefits)
|
|
4,741
|
|
(424)
|
|
(62)
|
|
9,838
|
|
(11,667)
|
|
(1,699)
|
Non-GAAP adjusted
EBITDA[4]
|
|
(9,878)
|
|
(12,640)
|
|
(1,839)
|
|
(50,667)
|
|
(67,451)
|
|
(9,821)
|
View original
content:http://www.prnewswire.com/news-releases/jianpu-technology-inc-reports-third-quarter-2018-unaudited-financial-results-300752754.html
SOURCE Jianpu Technology Inc.