BEIJING, Nov. 19, 2018 /PRNewswire/ -- Leju Holdings
Limited ("Leju" or the "Company") (NYSE: LEJU), a leading
online-to-offline ("O2O") real estate services provider in
China, today announced its
unaudited financial results for the fiscal quarter and nine months
ended September 30, 2018.
Third Quarter 2018 Financial Highlights
- Total revenues increased by 40% year-on-year to $133.6 million.
- Revenues from e-commerce
services increased by 57% year-on-year to $96.9 million.
- Revenues from online advertising services increased by 20%
year-on-year to $36.0 million.
- Income from operations was $11.3
million, compared to loss from operations of $29.3 million for the same quarter of 2017.
Non-GAAP[1] income from operations was $15.6 million, compared to non-GAAP loss from
operations of $24.9 million for the
same quarter of 2017.
- Net income attributable to Leju Holdings Limited shareholders
was $6.8 million, or $0.05 per diluted American depositary share
("ADS"), compared to net loss attributable to Leju Holdings Limited
shareholders of $23.1 million, or
$0.17 loss per diluted ADS, for the
same quarter of 2017. Non-GAAP net income attributable to Leju
Holdings Limited shareholders was $10.3
million, or $0.08 per diluted
ADS, compared to non-GAAP net loss attributable to Leju Holdings
Limited shareholders of $19.2
million, or $0.14 loss per
diluted ADS, for the same quarter of 2017.
[1]
Leju uses in this press release the following non-GAAP
financial measures: (1) income (loss) from operations, (2) net
income (loss), (3) net income (loss) attributable to Leju
shareholders, (4) net income (loss) attributable to Leju
shareholders per basic ADS, and (5) net income (loss) attributable
to Leju shareholders per diluted ADS, each of which excludes
share-based compensation expense, amortization of intangible assets
resulting from business acquisitions, goodwill impairment, and
income tax impact on the share-based compensation expense,
amortization of intangible assets resulting from business
combinations, and goodwill impairment. See "About Non-GAAP
Financial Measures" and "Unaudited Reconciliation of GAAP and
Non-GAAP Results" below for more information about the non-GAAP
financial measures included in this press release.
|
First Nine Months 2018 Financial Highlights
- Total revenues increased by 32% year-on-year to $337.8 million.
- Revenues from e-commerce
services increased by 45% year-on-year to $237.9 million.
- Revenues from online advertising services increased by 21%
year-on-year to $97.5 million.
- Loss from operations was $10.2
million, a decrease of 94% from $158.6 million for the same period of 2017.
Non-GAAP income from operations was $2.8
million, compared to non-GAAP loss from operations of
$104.1 million for the same period of
2017.
- Net loss attributable to Leju Holdings Limited shareholders was
$14.9 million, or $0.11 loss per diluted ADS, a decrease of 89%
from $138.6 million, or $1.02 loss per diluted ADS for the same period of
2017. Non-GAAP net loss attributable to Leju Holdings Limited
shareholders was $4.4 million, or
$0.03 loss per diluted ADS, a
decrease of 95% from $85.7 million,
or $0.63 loss per diluted ADS for the
same period of 2017.
"In the third quarter, Leju continued its growth momentum while
delivering solid operating profit," said Mr. Geoffrey He, Leju's Chief Executive Officer. "In
line with our 'New Media, New Ecosystem, and New E-commerce'
business strategy, we will remain focused on enhancing our media
influence by leveraging 'Leju Finance', developing our intelligent
marketing platform through our proprietary 'cloud-eye' big-data
system and 'mini-app' open platform, and offering innovative
e-commerce products with the help of our transparent home
purchasing platform."
"Looking to the fourth quarter, the changing market conditions
will present both challenges and opportunities for Leju. We will
continue to execute our business strategy, improve operations and
management and strive to sustain profitability."
Third Quarter 2018 Results
Total revenues were $133.6
million, an increase of 40% from $95.2 million for the same quarter of 2017,
mainly due to an increase in revenues from e-commerce services and
online advertising services.
Revenues from e-commerce services were
$96.9 million, an increase of 57%
from $61.8 million for the same
quarter of 2017, primarily due to an increase in the average price
per discount coupon redeemed.
Revenues from online advertising services were
$36.0 million, an increase of 20%
from $30.0 million for the same
quarter of 2017, primarily due to an increase in property
developers' demand for online advertising.
Revenues from listing services were $0.8 million, a decrease of 77% from $3.4 million for the same quarter of 2017,
primarily due to a decrease in secondary real estate brokers'
demand.
Cost of revenues was $16.9
million, a decrease of 20% from $21.1
million for the same quarter of 2017, primarily due to
decreased staff cost as a result of headcount change.
Selling, general and administrative expenses were
$106.2 million, an increase of 3%
from $103.5 million for the same
quarter of 2017, primarily due to increased marketing expenses
related to the Company's e-commerce business, partially offset by
decreased staff cost as a result of headcount change and deceased
office and other operating expenses.
Income from operations was $11.3 million, compared to loss from operations
of $29.3 million for the same quarter
of 2017. Non-GAAP income from operations was
$15.6 million, compared to non-GAAP
loss from operations of $24.9 million
for the same quarter of 2017.
Other loss, net was $3.9
million, compared to $0.3
million for the same quarter of 2017, primarily due to
$3.7 million foreign exchange loss
recognized for the third quarter of 2018.
Net income was $7.3
million, compared to net loss of $23.4 million for the same quarter of 2017.
Non-GAAP net income was $10.8
million, compared to non-GAAP net loss of $19.5 million for the same quarter of 2017.
Net income attributable to Leju Holdings Limited
shareholders was $6.8
million, or $0.05 per diluted
ADS, compared to net loss attributable to Leju Holdings Limited
shareholders of $23.1 million, or
$0.17 loss per diluted ADS, for the
same quarter of 2017. Non-GAAP net income attributable to
Leju Holdings Limited shareholders was $10.3 million, or $0.08 per diluted ADS, compared to non-GAAP net
loss attributable to Leju Holdings Limited shareholders of
$19.2 million, or $0.14 loss per diluted ADS, for the same quarter
of 2017.
First Nine Months 2018 Results
Total revenues were $337.8
million, an increase of 32% from $256.2 million for the same period of 2017,
mainly due to an increase in revenues from e-commerce services and
online advertising services.
Revenues from e-commerce services were
$237.9 million, an increase of 45%
from $163.6 million for the same
period of 2017, primarily due to an increase in the average price
per discount coupons redeemed, partially offset by a decrease in
the number of discount coupons redeemed.
Revenues from online advertising services were
$97.5 million, an increase of 21%
from $80.5 million for the same
period of 2017, primarily due to an increase in property
developers' demand for online advertising.
Revenues from listing services were $2.4 million, a decrease of 80% from $12.0 million for the same period of 2017,
primarily due to a decrease in secondary real estate brokers'
demand.
Cost of revenues was $54.0
million, a decrease of 1% from $54.4
million for the same period of 2017, primarily due to
decreased staff costs as a result of headcount change, partially
offset by increased cost of advertising resources purchased from
media platforms.
Selling, general and administrative expenses were
$296.1 million, a decrease of 8% from
$322.0 million for the same period of
2017, primarily due to decreased staff costs as a result of
headcount change.
Loss from operations was $10.2 million, a decrease of 94% from
$158.6 million for the same period of
2017. Non-GAAP income from operations was
$2.8 million, compared to non-GAAP
loss from operations of $104.1
million for the same period of 2017.
Other loss, net was $6.3
million, compared to $0.6
million for the same period of 2017, primarily due to
$5.7 million foreign exchange loss
recognized for the first nine months of 2018.
Net loss was $15.0
million, a decrease of 89% from $139.6 million for the same period of 2017.
Non-GAAP net loss was $4.4
million, a decrease of 95% from $86.7
million for the same period of 2017.
Net loss attributable to Leju Holdings
Limited shareholders was $14.9
million, or $0.11 loss per
diluted ADS, a decrease of 89% from $138.6
million, or $1.02 loss per
diluted ADS for the same period of 2017. Non-GAAP net loss
attributable to Leju Holdings Limited shareholders was
$4.4 million, or $0.03 loss per diluted ADS, a decrease of 95%
from $85.7 million, or $0.63 loss per diluted ADS for the same period of
2017.
Cash Flow
As of September 30, 2018, the
Company's cash and cash equivalents balance was
$165.1 million.
Third quarter 2018 net cash used in operating
activities was $4.0 million,
primarily comprised of an increase in accounts receivable of
$10.1 million and a decreased in
advance from customers and deferred revenue of $5.7 million, partially offset by non-GAAP net
income of $10.8 million.
Business Outlook
The Company estimates that its total revenues for the fourth
quarter of 2018 will be approximately 120 million to 130 million,
which would represent an increase of approximately 13% to 22% from
$106.4 million in the same quarter in
2017. This forecast reflects the Company's current and preliminary
view, which is subject to change.
Leju to Hold Annual General Meeting on December 21, 2018
Leju announced that it will hold its annual general meeting of
shareholders (the "AGM") at Room 1120, 11/F, Yinli Building, No.
383 Guangyan Road, Shanghai, the People's
Republic of China on December 21,
2018 at 10:00AM (local time).
No proposal will be submitted to shareholders for approval at the
AGM. Instead, the AGM will serve as an open forum for shareholders
and holders of the Company's ADSs to discuss Company affairs with
management.
Holders of record of the Company's ordinary shares at the close
of business on November 26, 2018 (Eastern
Standard Time) are entitled to receive notice of and attend
the annual general meeting or any adjournment or postponement
thereof. Holders of the Company's ADSs are welcome to attend the
AGM in person.
The notice of the annual general meeting is available on the
Company's website at http://ir.leju.com.
Conference Call Information
Leju's management will host an earnings conference call on
November 19, 2018 at 7 a.m. U.S. Eastern Time (8 p.m. Beijing/Hong
Kong time).
Dial-in details for the earnings conference call are as
follows:
U.S./International:
|
+1-845-675-0437
|
Hong Kong:
|
+852-3018-6771
|
Mainland China:
|
400-620-8038
|
Please dial in 10 minutes before the call is scheduled to begin
and provide the passcode to join the call. The passcode is "Leju
earnings call".
A replay of the conference call may be accessed by phone at the
following number until November 27,
2018:
U.S./International:
|
+1-855-452-5696
|
Hong Kong:
|
800-963-117
|
Mainland China:
|
400-632-2162
|
Passcode:
|
4590658
|
Additionally, a live and archived webcast will be available at
http://ir.leju.com.
About Leju
Leju Holdings Limited ("Leju") (NYSE: LEJU) is a leading
online-to-offline, or O2O, real estate services provider in
China, offering real estate
e-commerce, online advertising and online listing services. Leju's
integrated online platform comprises various mobile applications
along with local websites covering more than 370 cities, enhanced
by complementary offline services to facilitate residential
property transactions. In addition to the Company's own websites,
Leju operates the real estate and home furnishing websites of SINA
Corporation, and maintains a strategic partnership with
Tencent Holdings Limited. For more
information about Leju, please visit http://ir.leju.com.
Safe Harbor: Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in 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," "target,"
"going forward," "outlook" and similar statements. Leju may also
make written or oral forward-looking statements in its reports
filed or furnished with 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 statements about Leju's beliefs
and expectations, are forward-looking statements that involve
inherent risks and uncertainties. A number of important factors
could cause actual results to differ materially from those
contained, either expressly or impliedly, in any of the
forward-looking statements. Such factors include, but are not
limited to, fluctuations in China's real estate market;
the highly regulated nature of, and government measures affecting,
the real estate and internet industries in China; Leju's
ability to compete successfully against current and future
competitors; its ability to continue to develop and expand its
content, service offerings and features, and to develop or
incorporate the technologies that support them; its limited
operating history and lack of experience as a stand-alone public
company, given its carve-out from E-House and prior reliance on
E-House for various corporate services; its reliance on SINA and
others with which it has developed, or may develop in the future,
strategic partnerships; substantial revenue contribution from a
limited number of real estate markets; complexities resulting from
its ongoing relationships with E-House, due to E-House's status as
a principal shareholder of Leju; and relevant government policies
and regulations relating to the corporate structure, business and
industry of Leju. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. All
information provided in this press release is current as of the
date of the press release, and the Company does not undertake any
obligation to update any forward-looking statement as a result of
new information, future events or otherwise, except as required
under applicable law.
About Non-GAAP Financial Measures
To supplement Leju's consolidated financial results presented in
accordance with United States Generally Accepted Accounting
Principles ("GAAP"), Leju uses in this press release the following
non-GAAP financial measures: (1) income (loss) from operations, (2)
net income (loss), (3) net income (loss) attributable to Leju
shareholders, (4) net income (loss) attributable to Leju
shareholders per basic ADS, and (5) net income (loss) attributable
to Leju shareholders per diluted ADS, each of which excludes
share-based compensation expense, amortization of intangible assets
resulting from business acquisitions, goodwill impairment, and
income tax impact on the share-based compensation expense,
amortization of intangible assets resulting from business
combinations, and goodwill impairment. 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 GAAP. For more information on
these non-GAAP financial measures, please see the table captioned
"Unaudited Reconciliation of GAAP and Non-GAAP Results" set forth
at the end of this press release.
Leju believes that these non-GAAP financial measures provide
meaningful supplemental information to investors regarding its
operating performance by excluding share-based compensation
expense, amortization of intangible assets resulting from business
acquisitions, and goodwill impairment, which may not be indicative
of Leju's operating performance. These non-GAAP financial measures
also facilitate management's internal comparisons to Leju's
historical performance and assist its financial and operational
decision making. A limitation of using these non-GAAP financial
measures is that share-based compensation expense, amortization of
intangible assets resulting from business acquisitions, and
goodwill impairment may continue to exist in Leju's business for
the foreseeable future. Management compensates for these
limitations by providing specific information regarding the GAAP
amounts excluded from each non-GAAP measure. The accompanying
tables provide more details on the reconciliation between non-GAAP
financial measures and their most comparable GAAP financial
measures.
For investor and media inquiries please contact:
Ms. Christina Wu
Leju Holdings Limited
Phone: +86 (10) 5895-1062
E-mail: ir@leju.com
Philip Lisio
Foote Group
Phone: +86 135-0116-6560
E-mail: phil@thefootegroup.com
LEJU HOLDINGS
LIMITED
|
UNAUDITED
CONSOLIDATED BALANCE SHEETS
|
(In thousands of
U.S. dollars)
|
|
|
|
|
December
31,
|
|
September
30,
|
|
|
|
2017
|
|
2018
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
|
150,968
|
|
|
|
165,122
|
|
|
Restricted
cash
|
|
|
|
337
|
|
|
|
—
|
|
|
Accounts receivable,
net
|
|
|
|
79,196
|
|
|
|
91,671
|
|
|
Contract
assets
|
|
|
|
1,410
|
|
|
|
2,520
|
|
|
Marketable
securities
|
|
|
|
3,077
|
|
|
|
2,333
|
|
|
Prepaid expenses and
other current assets
|
|
|
|
9,945
|
|
|
|
8,906
|
|
|
Customer
deposits
|
|
|
|
35,823
|
|
|
|
7,637
|
|
|
Amounts due from
related parties
|
|
|
|
4,077
|
|
|
|
6,800
|
|
|
Total current
assets
|
|
|
|
284,833
|
|
|
|
284,989
|
|
|
Property and
equipment, net
|
|
|
|
14,240
|
|
|
|
13,712
|
|
|
Intangible assets,
net
|
|
|
|
70,631
|
|
|
|
60,640
|
|
|
Investment in
affiliates
|
|
|
|
146
|
|
|
|
71
|
|
|
Deferred tax
assets
|
|
|
|
67,084
|
|
|
|
63,719
|
|
|
Other non-current
assets
|
|
|
|
2,010
|
|
|
|
1,400
|
|
|
Total
assets
|
|
|
|
438,944
|
|
|
|
424,531
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
|
|
2,950
|
|
|
|
4,569
|
|
|
Accrued payroll and
welfare expenses
|
|
|
|
37,082
|
|
|
|
28,939
|
|
|
Income tax
payable
|
|
|
|
63,380
|
|
|
|
56,678
|
|
|
Other tax
payable
|
|
|
|
11,654
|
|
|
|
13,204
|
|
|
Amounts due to
related parties
|
|
|
|
3,093
|
|
|
|
3,362
|
|
|
Advance from
customers and deferred revenue
|
|
|
|
10,565
|
|
|
|
27,845
|
|
|
Accrued marketing and
advertising expenses
|
|
|
|
18,852
|
|
|
|
18,540
|
|
|
Other current
liabilities
|
|
|
|
16,315
|
|
|
|
13,081
|
|
|
Total current
liabilities
|
|
|
|
163,891
|
|
|
|
166,218
|
|
|
Deferred tax
liabilities
|
|
|
|
18,016
|
|
|
|
17,113
|
|
|
Total
liabilities
|
|
|
|
181,907
|
|
|
|
183,331
|
|
|
Shareholders'
Equity
|
|
|
|
|
|
|
|
|
|
|
Ordinary shares
($0.001 par value): 1,000,000,000 shares
authorized, 135,763,962 and 135,763,962 shares issued
and
outstanding, as of December 31, 2017 and September
30,
2018, respectively
|
|
|
|
136
|
|
|
|
136
|
|
|
Additional paid-in
capital
|
|
|
|
788,589
|
|
|
|
791,701
|
|
|
Accumulated
deficit
|
|
|
|
(515,344)
|
|
|
|
(530,246)
|
|
|
Accumulated other
comprehensive loss
|
|
|
|
(13,078)
|
|
|
|
(17,217)
|
|
|
Total Leju Holdings
Limited shareholders' equity
|
|
|
|
260,303
|
|
|
|
244,374
|
|
|
Non-controlling
interests
|
|
|
|
(3,266)
|
|
|
|
(3,174)
|
|
|
Total
equity
|
|
|
|
257,037
|
|
|
|
241,200
|
|
|
TOTAL LIABILITIES
AND EQUITY
|
|
|
|
438,944
|
|
|
|
424,531
|
|
|
LEJU HOLDINGS
LIMITED
|
UNAUDITED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
(In thousands of
U.S. dollars, except share data and per share data)
|
|
|
|
Three months
ended
|
|
Nine months
ended
|
|
|
September
30,
|
|
September
30,
|
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
E-commerce
|
|
|
61,809
|
|
|
|
96,853
|
|
|
|
163,619
|
|
|
|
237,894
|
|
Online advertising
services
|
|
|
29,963
|
|
|
|
35,968
|
|
|
|
80,516
|
|
|
|
97,459
|
|
Listing
services
|
|
|
3,395
|
|
|
|
767
|
|
|
|
12,029
|
|
|
|
2,434
|
|
Total
revenues
|
|
|
95,167
|
|
|
|
133,588
|
|
|
|
256,164
|
|
|
|
337,787
|
|
Cost of
revenues
|
|
|
(21,144)
|
|
|
|
(16,935)
|
|
|
|
(54,437)
|
|
|
|
(54,015)
|
|
Selling, general and
administrative expenses
|
|
|
(103,531)
|
|
|
|
(106,195)
|
|
|
|
(321,983)
|
|
|
|
(296,122)
|
|
Goodwill impairment
charge
|
|
|
—
|
|
|
|
—
|
|
|
|
(41,223)
|
|
|
|
—
|
|
Other operating
income
|
|
|
159
|
|
|
|
850
|
|
|
|
2,901
|
|
|
|
2,158
|
|
Income (loss) from
operations
|
|
|
(29,349)
|
|
|
|
11,308
|
|
|
|
(158,578)
|
|
|
|
(10,192)
|
|
Interest
income
|
|
|
411
|
|
|
|
286
|
|
|
|
988
|
|
|
|
845
|
|
Other loss,
net
|
|
|
(316)
|
|
|
|
(3,897)
|
|
|
|
(623)
|
|
|
|
(6,269)
|
|
Income (loss)
before taxes and loss from equity
in affiliates
|
|
|
(29,254)
|
|
|
|
7,697
|
|
|
|
(158,213)
|
|
|
|
(15,616)
|
|
Income tax benefits
(expenses)
|
|
|
5,893
|
|
|
|
(361)
|
|
|
|
18,818
|
|
|
|
732
|
|
Income (loss)
before loss from equity in
affiliates
|
|
|
(23,361)
|
|
|
|
7,336
|
|
|
|
(139,395)
|
|
|
|
(14,884)
|
|
Loss from equity in
affiliates
|
|
|
(56)
|
|
|
|
(19)
|
|
|
|
(188)
|
|
|
|
(70)
|
|
Net income
(loss)
|
|
|
(23,417)
|
|
|
|
7,317
|
|
|
|
(139,583)
|
|
|
|
(14,954)
|
|
Less: net income
(loss) attributable to
non-controlling interests
|
|
|
(294)
|
|
|
|
473
|
|
|
|
(984)
|
|
|
|
(52)
|
|
Income (loss)
attributable to Leju Holdings
Limited shareholders
|
|
|
(23,123)
|
|
|
|
6,844
|
|
|
|
(138,599)
|
|
|
|
(14,902)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per
ADS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic/
Diluted
|
|
|
(0.17)
|
|
|
|
0.05
|
|
|
|
(1.02)
|
|
|
|
(0.11)
|
|
Shares used in
computation of earnings (loss) per
ADS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic/
Diluted
|
|
|
135,763,962
|
|
|
|
135,763,962
|
|
|
|
135,689,813
|
|
|
|
135,763,962
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note 1
|
The conversion of
functional currency Renminbi ("RMB") amounts into reporting
currency USD amounts is based on the rate of USD1 = RMB6.8792 on
September 30,
2018 and USD1 = RMB6.5307 for the nine months ended September 30,
2018
|
LEJU HOLDINGS
LIMITED
|
UNAUDITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
|
(In thousands of
U.S. dollars)
|
|
|
|
Three months
ended
|
|
|
Nine months
ended
|
|
|
September
30,
|
|
|
September
30,
|
|
|
2017
|
|
2018
|
|
2017
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
|
(23,417)
|
|
|
|
7,317
|
|
|
|
(139,583)
|
|
|
|
|
(14,954)
|
|
Other comprehensive
income (loss), net of tax of nil
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustment
|
|
|
1,353
|
|
|
|
(3,243)
|
|
|
|
5,621
|
|
|
|
|
(4,016)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
income (loss)
|
|
|
(22,064)
|
|
|
|
4,074
|
|
|
|
(133,962)
|
|
|
|
|
(18,970)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Comprehensive
income (loss) attributable to
non-controlling interest
|
|
|
(333)
|
|
|
|
551
|
|
|
|
(1,062)
|
|
|
|
|
71
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
income (loss) attributable to Leju
Holdings Limited shareholders
|
|
|
(21,731)
|
|
|
|
3,523
|
|
|
|
(132,900)
|
|
|
|
|
(19,041)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LEJU HOLDINGS
LIMITED
|
Unaudited
Reconciliation of GAAP and Non-GAAP Results
|
(In thousands of
U.S. dollars, except share data and per ADS data)
|
|
|
|
Three months
ended
|
|
Nine months
ended
|
|
|
September
30,
|
|
September
30,
|
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP income (loss)
from operations
|
|
|
(29,349)
|
|
|
|
11,308
|
|
|
(158,578)
|
|
|
(10,192)
|
|
Share-based
compensation expense
|
|
|
976
|
|
|
|
1,098
|
|
|
3,374
|
|
|
3,133
|
|
Amortization of
intangible assets resulting from business
acquisitions
|
|
|
3,485
|
|
|
|
3,204
|
|
|
9,848
|
|
|
9,859
|
|
Goodwill
impairment
|
|
|
—
|
|
|
|
—
|
|
|
41,223
|
|
|
—
|
|
Non-GAAP income
(loss) from operations
|
|
|
(24,888)
|
|
|
|
15,610
|
|
|
(104,133)
|
|
|
2,800
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss)
|
|
|
(23,417)
|
|
|
|
7,317
|
|
|
(139,583)
|
|
|
(14,954)
|
|
Share-based
compensation expense
|
|
|
976
|
|
|
|
1,098
|
|
|
3,374
|
|
|
3,133
|
|
Amortization of
intangible assets resulting from
business
acquisitions
|
|
|
3,485
|
|
|
|
3,204
|
|
|
9,848
|
|
|
9,859
|
|
Goodwill
impairment
|
|
|
—
|
|
|
|
—
|
|
|
41,223
|
|
|
—
|
|
Income tax
benefits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Deferred[2]
|
|
|
(574)
|
|
|
|
(801)
|
|
|
(1,570)
|
|
|
(2,465)
|
|
Non-GAAP net
income (loss)
|
|
|
(19,530)
|
|
|
|
10,818
|
|
|
(86,708)
|
|
|
(4,427)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to Leju Holdings Limited
shareholder
|
|
|
(23,123)
|
|
|
|
6,844
|
|
|
(138,599)
|
|
|
(14,902)
|
|
Share-based
compensation expense
(net of
non-controlling interests)
|
|
|
967
|
|
|
|
1,094
|
|
|
3,349
|
|
|
3,113
|
|
Amortization of
intangible assets resulting from business
acquisitions (net of non-controlling
interests)
|
|
|
3,485
|
|
|
|
3,204
|
|
|
9,848
|
|
|
9,859
|
|
Goodwill
impairment
|
|
|
—
|
|
|
|
—
|
|
|
41,223
|
|
|
—
|
|
Income tax benefits
(net of non-controlling interests)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Deferred
|
|
|
(574)
|
|
|
|
(801)
|
|
|
(1,570)
|
|
|
(2,465)
|
|
Non-GAAP net
income (loss) attributable to Leju
Holdings Limited
shareholders
|
|
|
(19,245)
|
|
|
|
10,341
|
|
|
(85,749)
|
|
|
(4,395)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss) per ADS — basic/diluted
|
|
|
(0.17)
|
|
|
|
0.05
|
|
|
(1.02)
|
|
|
(0.11)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income (loss) per ADS — basic/diluted
|
|
|
(0.14)
|
|
|
|
0.08
|
|
|
(0.63)
|
|
|
(0.03)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
calculating basic GAAP/non-GAAP net
income (loss) attributable to shareholders
per ADS
|
|
|
135,763,962
|
|
|
|
135,763,962
|
|
|
135,689,813
|
|
|
135,763,962
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[2]
Amount represents the realization of deferred tax liabilities
recognized for the temporary difference between the tax
basis of intangible assets recognized from acquisitions and their
reported amounts in the financial statements. The
income tax impact on the share-based compensation expense, and
goodwill impairment is nil.
|
LEJU HOLDINGS
LIMITED
|
SELECTED OPERATING
DATA
|
|
|
|
Three months
ended
|
|
Nine months
ended
|
|
|
September
30,
|
|
September
30,
|
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating data for
e-commerce services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of discount
coupons issued to
prospective purchasers (number
of
transactions)
|
|
|
58,168
|
|
|
|
31,554
|
|
|
|
198,899
|
|
|
|
109,484
|
|
Number of discount
coupons redeemed (number
of transactions)
|
|
|
30,717
|
|
|
|
30,807
|
|
|
|
82,374
|
|
|
|
65,494
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View original
content:http://www.prnewswire.com/news-releases/leju-reports-third-quarter-2018-results-and-issues-notice-of-annual-general-meeting-300752748.html
SOURCE Leju Holdings Limited