Aurora Mobile Limited Announces Fourth Quarter and Fiscal Year 2020 Unaudited Financial Results
Aurora Mobile Limited (NASDAQ:JG) reported its unaudited financial results for Q4 and FY 2020. Q4 revenues for its SaaS business reached RMB 76.6 million, marking a 17% increase YoY, while total revenues decreased 42% to RMB 106.0 million. The gross profit for SaaS was RMB 58.7 million, up 28% YoY. However, the company incurred a net loss of RMB 89.9 million, a significant rise from the previous year's loss of RMB 40.2 million. For FY 2021, Aurora expects revenues between RMB 380 million and RMB 400 million, indicating a projected growth of 47% to 55%.
- Q4 SaaS revenues grew 17% YoY to RMB 76.6 million.
- Gross profit for SaaS increased 28% YoY to RMB 58.7 million.
- The company expects FY 2021 revenues to rise 47% to 55%.
- Total revenues decreased 42% YoY to RMB 106.0 million.
- Net loss expanded to RMB 89.9 million from RMB 40.2 million YoY.
- Overall group revenues fell 48% for FY 2020.
SHENZHEN, China, March 18, 2021 (GLOBE NEWSWIRE) -- Aurora Mobile Limited (“Aurora Mobile” or the “Company”) (NASDAQ:JG), a leading mobile developer service provider in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2020.
Fourth Quarter 2020 Financial Highlights (SAAS Businesses# only)
- Revenues were RMB76.6 million (US
$11.7 million ), an increase of17% year-over-year and17% quarter-over-quarter. - Gross profit was RMB58.7 million (US
$9.0 million ), an increase of28% year-over-year and20% quarter-over-quarter. - Gross margin was
76.6% , compared with70.3% in the same quarter of 2019.
# SAAS Businesses include both the Developer Services and Vertical Applications. SAAS Businesses will be the only business remaining starting from the first quarter of 2021.
Fourth Quarter 2020 Financial Highlights (for the Group as a whole)
- Revenues were RMB106.0 million (US
$16.2 million ), a decrease of42% year-over-year and2% quarter-over-quarter. - Cost of revenues was RMB45.9 million (US
$7.0 million ), a decrease of63% year-over-year and20% quarter-over-quarter. - Gross profit was RMB60.1 million (US
$9.2 million ), a decrease of0.5% year-over-year, and an increase of18% quarter-over-quarter. - Total operating expenses were RMB106.5 million (US
$16.3 million ), an increase of3% year-over-year and9% quarter-over-quarter. - Net loss was RMB89.9 million (US
$13.8 million ), compared with a net loss of RMB40.2 million for the same period last year, and a net loss of RMB43.7 million for the third quarter of 2020. - Adjusted net loss (non-GAAP) was RMB29.4 million (US
$4.5 million ), compared with a RMB20.9 million adjusted net loss for the same period last year, and a RMB36.9 million adjusted net loss for the third quarter of 2020. - Adjusted EBITDA (non-GAAP) was negative RMB17.1 million (US
$2.6 million ), compared with negative RMB8.8 million for the same period last year, and negative RMB22.0 million for the third quarter of 2020.
Fiscal Year 2020 Financial Highlights (SAAS Businesses# only)
- Revenues were RMB258.0 million (US
$39.5 million ), an increase of21% year-over-year. - Gross profit was RMB194.7 million (US
$29.8 million ), an increase of24% year-over-year. - Gross margin was
75.5% , compared with73.4% in 2019.
# SAAS Businesses include both the Developer Services and Vertical Applications. SAAS Businesses will be the only business remaining starting from the first quarter of 2021.
Fiscal Year 2020 Financial Highlights (for the Group as a whole)
- Revenues were RMB471.6 million (US
$72.3 million ), a decrease of48% year-over-year. - Cost of revenues was RMB265.4 million (US
$40.7 million ), a decrease of59% year-over-year. - Gross profit was RMB206.2 million (US
$31.6 million ), a decrease of20% year-over-year. - Total operating expenses were RMB396.0 million (US
$60.7 million ), a decrease of2% year-over-year. - Net loss was RMB225.1 million (US
$34.5 million ), compared with net loss of RMB109.8 million in 2019. - Adjusted net loss (non-GAAP) was RMB141.6 million (US
$21.7 million ), compared with a RMB73.6 million adjusted net loss in 2019. - Adjusted EBITDA (non-GAAP) was negative RMB87.7 million (US
$13.4 million ), compared with negative RMB29.7 million in 2019.
Fourth Quarter 2020 Operational Highlights
- Number of mobile apps utilizing at least one of the Company’s developer services, or the cumulative app installations, increased to approximately 1,698,000 as of December 31, 2020 from approximately 1,452,000 as of December 31, 2019.
- Number of monthly active unique mobile devices increased to 1.40 billion in December 2020 from 1.36 billion in December 2019.
- Cumulative SDK installations increased to 46.7 billion as of December 31, 2020 from 33.6 billion as of December 31, 2019.
- Number of paying customers increased to 2,420 in the fourth quarter of 2020 from 2,131 in the fourth quarter of 2019
Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, “The year 2021 marks the 10th anniversary of Aurora Mobile. Looking back, we are extremely proud of what we have achieved in the past decade in helping all our mobile APP customers in China to improve their operations, grow, and now monetize. I’d like to use this opportunity to thank all the mobile APP developers who have been alongside us, trusted us and co-operated with us over these 10 years. I believe the next 10 years will be even greater for our customers thanks to the new exciting and innovative product and service offerings from Aurora Mobile.
In reflection, the year 2020 was a very extraordinary year in which an unexpected pandemic reshaped the world and changed how people live their lives and how companies conduct their businesses in so many ways. During the crisis, we persistently carried out our core strategies to serve our developer customers by helping them with their business operations, user growth and the monetization of their user base. Based on the solid business foundation built with our developer subscription services, we ventured into new business territory by innovatively creating our JG Alliance business lines to help our developer customers better monetize their user traffic. The JG Alliance became a great success as we achieved a phenomenal 15X growth year-over-year in revenue and the JG Alliance DAUs grew rapidly from NIL to 130 million in merely 5 quarters.
Meanwhile, we completed the wind down of our targeted marketing business. Despite being the largest revenue contributor in 2019, we felt the Targeted Marketing business did not fit with our company’s long term growth direction and our competitive strength. I’m proud to announce that by the end of the 4th quarter 2020, our business transition was
On a SAAS Businesses basis, which include only the Developer Services and Vertical Applications businesses, we achieved revenue of RMB 76.6 Million in the quarter, at the higher end of our guidance range. The quarterly revenue grew
On a SAAS Businesses basis, gross profit has also shown strong growth of
During the year, we also put greater emphasis on product development and innovation. We successfully launched three new heavy-weight products. First, we enhanced our JG Alliance product portfolio by adding a new In-App message product. And in our developer subscription business, we launched our UMS and VAAS products to address new critical needs from developers and businesses.
JG UMS (Unification Messaging System) enables businesses to engage with their targeted customers more efficiently and cost effectively through one integrated messaging management platform, therefore improving operational simplicity while reducing costs with flexible routing strategy management.
JG VaaS (Video-as-a-Service) on the other hand, enables mobile app developers to provide relevant user-friendly short video content in their apps, therefore improving user experience, increasing user engagement and stickiness, and enhancing monetization capability. It’s a distributed way for users to consume short videos anytime and anywhere, rather than have to go to certain short-video apps to view short videos in a centralized fashion.
Both UMS and VAAS are offered in a subscription fee-based model, where our customers pay annual fees based on the features they like to subscribe to. We believe both products can greatly expand our paying customer base and ARPU for our developer subscription business over time.
Mr. Fei Chen, President of Aurora Mobile, added, “For the quarter ended December 31, 2020, we recorded RMB 52.5 million in revenue for Developer Services which represented
Value-Added-Services within Developer Services, which include revenues from JG Alliance services and Advertisement SaaS, recorded another strong quarter as revenues grew by
The Value-Added-Services full year revenue grew from RMB 3.3 million in financial year 2019 to RMB 52.5 million. The 15X annual revenue growth demonstrates the large potential market opportunity and growing demand of our Value-Added-Services.
In the fourth quarter, the revenue from Value-Added-Services was RMB 17.4 million compared to RMB 3.3 million in the same quarter a year ago. This
On the demand side, mini program developers continued to play a pivotal role as traffic consumer of JG Alliance by contributing
The combined revenues from Vertical Applications, including market intelligence, financial risk management and iZone, increased by
Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, “Operationally and financially, we have had another excellent quarter. The highlights include the SAAS Businesses’ revenue and gross profit contributions recording solid double digit year-over-year growth in all 4 quarters in 2020; the Value-Added-Services achieved revenue growth of
On the balance sheet, accounts receivable turnover days continued to improve, decreasing significantly from 70 days in Q4 2019, and 45 days in Q3 2020 to 37 days in Q4 2020. The deferred revenue balance, which represents cash collected in advance from customers, increased significantly by
We are now beginning a new chapter in the Aurora Mobile story where, from January 2021, all our revenues will be
Fourth Quarter 2020 Financial Results
Revenues were RMB106.0 million (US
Cost of revenues was RMB45.9 million (US
Gross profit was RMB60.1 million (US
Total operating expenses were RMB106.5 million (US
- Research and development expenses were RMB40.6 million (US
$6.2 million ), a decrease of8% from RMB43.9 million in the same quarter of last year, mainly due to a RMB8.7 million decrease in personnel costs and the impact was offset by the increases in technical service fees of RMB3.1 million and bandwidth fees of RMB2.6 million. - Sales and marketing expenses were RMB22.3 million (US
$3.4 million ), a decrease of27% from RMB30.5 million in the same quarter of last year, mainly due to a RMB5.6 million decrease in staff costs and RMB2.0 million decrease in marketing expenses. - General and administrative expenses were RMB43.5 million (US
$6.7 million ), an increase of51% from RMB28.8 million in the same quarter of last year, mainly due to a RMB11.0 million increase in long-lived assets impairment due to a one time cost for the “Going-Cloud” project, and increase in professional fees incurred and bad debt provision. Our “Going-Cloud” project is a transition to use cloud based servers for a portion of our infrastructure needs, whereas we completely operated and maintained self-owned servers previously. - Loss from operations was RMB46.4 million (US
$7.1 million ), compared with RMB 42.9 million in the same quarter of last year.
Net Loss was RMB89.9 million (US
Adjusted net loss (non-GAAP) was RMB29.4 million (US
Adjusted EBITDA (non-GAAP) was negative RMB17.1 million (US
The cash and cash equivalents, restricted cash and short-term investment remained relatively stable from RMB436.6 million as of September 30, 2020 to RMB436.2 million (US
Fiscal Year 2020 Financial Results
Revenues were RMB471.6 million (US
Cost of revenues was RMB265.4 million (US
Gross profit was RMB206.2 million (US
Total operating expenses were RMB396.0 million (US
- Research and development expenses were RMB174.6 million (US
$26.8 million ), a decrease of1% from RMB176.2 million in last year, mainly due to decrease in personnel costs by RMB18.9 million, and the impact was offset by the increase in technical service fee of RMB10.3 million and depreciation of RMB5.8 million. - Sales and marketing expenses were RMB 102.3 million (US
$15.7 million ), a decrease of14% from RMB118.5 million last year, mainly due to decreases in marketing expense by RMB8.5 million, staff cost by RMB4.9 million and travel & entertainment expense by RMB3.5 million. - General and administrative expenses were RMB119.1 million (US
$18.3 million ), an increase of9% from RMB109.3 million in last year, mainly due to increase from long-lived assets impairment, as a result of the “Going-Cloud” project undertaken, of RMB11.0 million.
Loss from operations was RMB189.8 million (US
Net Loss was RMB225.1 million (US
Adjusted net loss (non-GAAP) was RMB141.6 million (US
Adjusted EBITDA (non-GAAP) was negative RMB87.7 million (US
Business Outlook
For the financial year ending December 31, 2021, the Company expects the total revenue to be between RMB380 million and RMB400 million, representing year-over-year growth of approximately
Please note that, for meaningful comparison purposes, the prior year revenue number used to calculate the growth percentage excludes revenue from Targeted Marketing business. The above outlook is based on the current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.
Update on Share Repurchase
As of December 31, 2020, the Company had repurchased a total of 920,606 ADS, no ADS were repurchased during the fourth quarter in 2020.
Conference Call
The Company will host an earnings conference call on Thursday, March 18, 2021 at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Hong Kong time on the same day).
Due to the outbreak of COVID-19, operator assisted conference calls are not available at the moment. All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration.
Participant Online Registration: http://apac.directeventreg.com/registration/event/6439025
A telephone replay of the call will be available after the conclusion of the conference call through 9:00 p.m. U.S. Eastern Time, March 25, 2021.
The dial-in details for the replay are as follows:
| International: | +61 2 8199 0299 | |
| U.S. Toll Free: | 1-855-452-5696 | |
| Passcode: | 6439025 |
A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile’s website at http://ir.jiguang.cn/.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net loss and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net loss as net loss excluding share-based compensation, reduction in force charges, impairment of long-term investment and impairment of long-lived assets, fair value gain of long-term investment. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, income tax (expense) benefit, share-based compensation, reduction in force charges, impairment of long-term investment and impairment of long-lived assets.
The Company believes that adjusted net loss and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss.
The Company believes that adjusted net loss and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.
The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net loss and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.
The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.
Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SaaS-model; its ability maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.
About Aurora Mobile Limited
Founded in 2011, Aurora Mobile is a leading mobile developer service provider in China. Aurora Mobile is committed to providing efficient and stable push notification, one-click verification, and APP traffic monetization services to help developers improve operational efficiency, grow and monetize. Meanwhile, Aurora Mobile’s vertical applications have expanded to market intelligence, financial risk management, and location-based intelligence, empowering various industries to improve productivity and optimize decision-making.
For more information, please visit http://ir.jiguang.cn/.
For investor and media inquiries, please contact:
Aurora Mobile Limited
ir@jiguang.cn
Christensen
In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
E-mail: Eyuan@christensenir.com
In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com
_____
Footnote:
This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.5250 to US
AURORA MOBILE LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
| Three months ended | Twelve months ended | ||||||||||||||||||||
| December 31, 2019 | September 30, 2020 | December 31, 2020 | December 31, 2019 | December 31, 2020 | |||||||||||||||||
| RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||
| Revenues | 182,763 | 108,601 | 105,994 | 16,244 | 906,458 | 471,614 | 72,278 | ||||||||||||||
| Cost of revenues | (122,378 | ) | (57,536 | ) | (45,885 | ) | (7,032 | ) | (649,596 | ) | (265,436 | ) | (40,680 | ) | |||||||
| Gross profit | 60,385 | 51,065 | 60,109 | 9,212 | 256,862 | 206,178 | 31,598 | ||||||||||||||
| Operating expenses | |||||||||||||||||||||
| Research and development | (43,946 | ) | (45,623 | ) | (40,602 | ) | (6,223 | ) | (176,248 | ) | (174,597 | ) | (26,758 | ) | |||||||
| Sales and marketing | (30,507 | ) | (27,981 | ) | (22,341 | ) | (3,424 | ) | (118,548 | ) | (102,319 | ) | (15,681 | ) | |||||||
| General and administrative | (28,823 | ) | (24,050 | ) | (43,517 | ) | (6,669 | ) | (109,291 | ) | (119,087 | ) | (18,251 | ) | |||||||
| Total operating expenses | (103,276 | ) | (97,654 | ) | (106,460 | ) | (16,316 | ) | (404,087 | ) | (396,003 | ) | (60,690 | ) | |||||||
| Loss from operations | (42,891 | ) | (46,589 | ) | (46,351 | ) | (7,104 | ) | (147,225 | ) | (189,825 | ) | (29,092 | ) | |||||||
| Foreign exchange (loss)/gain, net | (60 | ) | (2 | ) | 3 | — | 435 | 10 | 2 | ||||||||||||
| Interest income | 1,334 | 1,568 | 1,568 | 240 | 6,300 | 6,131 | 940 | ||||||||||||||
| Interest expense | (2,905 | ) | (2,972 | ) | (2,821 | ) | (432 | ) | (11,118 | ) | (11,724 | ) | (1,797 | ) | |||||||
| Other income | 3,465 | 4,147 | (42,406 | ) | (6,499 | ) | 38,812 | (30,814 | ) | (4,722 | ) | ||||||||||
| Change in fair value of derivative asset | 886 | 155 | 157 | 24 | 3,117 | 1,233 | 189 | ||||||||||||||
| Loss before income taxes | (40,171 | ) | (43,693 | ) | (89,850 | ) | (13,771 | ) | (109,679 | ) | (224,989 | ) | (34,480 | ) | |||||||
| Income tax expenses | — | — | (86 | ) | (13 | ) | (162 | ) | (86 | ) | (13 | ) | |||||||||
| Net loss | (40,171 | ) | (43,693 | ) | (89,936 | ) | (13,784 | ) | (109,841 | ) | (225,075 | ) | (34,493 | ) | |||||||
AURORA MOBILE LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS (continued)
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share data)
| Three months ended | Twelve months ended | |||||||||||||||||||
| December 31, 2019 | September 30, 2020 | December 31, 2020 | December 31, 2019 | December 31, 2020 | ||||||||||||||||
| RMB | RMB | RMB | US$ | RMB | RMB | US$ | ||||||||||||||
| Net loss attributable to Aurora Mobile Limited’s shareholders | (40,171 | ) | (43,693 | ) | (89,936 | ) | (13,784 | ) | (109,841 | ) | (225,075 | ) | (34,493 | ) | ||||||
| Net loss attributable to common shareholders | (40,171 | ) | (43,693 | ) | (89,936 | ) | (13,784 | ) | (109,841 | ) | (225,075 | ) | (34,493 | ) | ||||||
| Net loss per share, for Class A and Class B common shares: | ||||||||||||||||||||
| Class A Common Shares - basic and diluted | (0.52 | ) | (0.56 | ) | (1.16 | ) | (0.18 | ) | (1.43 | ) | (2.91 | ) | (0.45 | ) | ||||||
| Class B Common Shares - basic and diluted | (0.52 | ) | (0.56 | ) | (1.16 | ) | (0.18 | ) | (1.43 | ) | (2.91 | ) | (0.45 | ) | ||||||
| Shares used in net loss per share computation: | ||||||||||||||||||||
| Class A Common Shares - basic and diluted | 59,958,276 | 60,461,343 | 60,815,983 | 60,815,983 | 59,721,341 | 60,415,978 | 60,415,978 | |||||||||||||
| Class B Common Shares - basic and diluted | 17,000,189 | 17,000,189 | 17,000,189 | 17,000,189 | 17,000,189 | 17,000,189 | 17,000,189 | |||||||||||||
| Other comprehensive income/loss | ||||||||||||||||||||
| Foreign currency translation adjustments | 19,866 | 2,360 | 2,824 | 433 | (2,037 | ) | 4,450 | 682 | ||||||||||||
| Total other comprehensive income/loss | 19,866 | 2,360 | 2,824 | 433 | (2,037 | ) | 4,450 | 682 | ||||||||||||
| Comprehensive loss | (20,305 | ) | (41,333 | ) | (87,112 | ) | (13,351 | ) | (111,878 | ) | (220,625 | ) | (33,811 | ) | ||||||
| Comprehensive loss attributable to Aurora Mobile Limited | (20,305 | ) | (41,333 | ) | (87,112 | ) | (13,351 | ) | (111,878 | ) | (220,625 | ) | (33,811 | ) | ||||||
AURORA MOBILE LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEET
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
| As of | |||||||||||
| December 31, 2019 | December 31, 2020 | ||||||||||
| RMB | RMB | US$ | |||||||||
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | 431,459 | 356,115 | 54,577 | ||||||||
| Restricted cash | 115 | 115 | 18 | ||||||||
| Derivative assets | — | 100 | 15 | ||||||||
| Short-term investment | — | 80,000 | 12,261 | ||||||||
| Accounts receivable | 135,417 | 44,886 | 6,879 | ||||||||
| Prepayments and other current assets | 86,087 | 48,919 | 7,497 | ||||||||
| Amounts due from related parties | 521 | — | — | ||||||||
| Total current assets | 653,599 | 530,135 | 81,247 | ||||||||
| Non-current assets: | |||||||||||
| Other non-current assets | 2,642 | 5,631 | 863 | ||||||||
| Long-term investments | 168,637 | 168,526 | 25,828 | ||||||||
| Property and equipment, net | 106,235 | 73,522 | 11,268 | ||||||||
| Intangible assets, net | 8,810 | 9,519 | 1,459 | ||||||||
| Total non-current assets | 286,324 | 257,198 | 39,418 | ||||||||
| Total assets | 939,923 | 787,333 | 120,665 | ||||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | 19,996 | 16,592 | 2,543 | ||||||||
| Deferred revenue and customer deposits | 77,561 | 109,182 | 16,733 | ||||||||
| Accrued liabilities and other current liabilities | 96,277 | 109,042 | 16,711 | ||||||||
| Convertible notes | — | 225,229 | 34,518 | ||||||||
| Amounts due to related parties | 56 | — | — | ||||||||
| Total current liabilities | 193,890 | 460,045 | 70,505 | ||||||||
| Non-current liabilities: | |||||||||||
| Other non-current liabilities | 64 | — | — | ||||||||
| Deferred revenue | 8,150 | 6,049 | 927 | ||||||||
| Convertible notes | 230,031 | — | — | ||||||||
| Total non-current liabilities | 238,245 | 6,049 | 927 | ||||||||
| Total liabilities | 432,135 | 466,094 | 71,432 | ||||||||
AURORA MOBILE LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEET (continued)
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share data)
| As of | |||||||||||||
| December 31, 2019 | December 31, 2020 | ||||||||||||
| RMB | RMB | US$ | |||||||||||
| Shareholders’ equity | |||||||||||||
| Common shares | 48 | 48 | 7 | ||||||||||
| Treasury shares | (1,999 | ) | — | — | |||||||||
| Additional paid-in capital | 956,735 | 988,812 | 151,542 | ||||||||||
| Accumulated deficit | (453,359 | ) | (678,434 | ) | (103,975 | ) | |||||||
| Accumulated other comprehensive income | 6,363 | 10,813 | 1,659 | ||||||||||
| Total shareholders’ equity | 507,788 | 321,239 | 49,233 | ||||||||||
| Total liabilities and shareholders’ equity | 939,923 | 787,333 | 120,665 | ||||||||||
AURORA MOBILE LIMITED
RECONCILIATION OF GAAP AND NON-GAAP RESULTS
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
| Three months ended | Twelve months ended | |||||||||||||||||||||||||||
| December 31, 2019 | September 30, 2020 | December 31, 2020 | December 31, 2019 | December 31, 2020 | ||||||||||||||||||||||||
| RMB | RMB | RMB | US$ | RMB | RMB | US$ | ||||||||||||||||||||||
| Reconciliation of Net Loss to Adjusted Net Loss: | ||||||||||||||||||||||||||||
| Net loss | (40,171 | ) | (43,693 | ) | (89,936 | ) | (13,784 | ) | (109,841 | ) | (225,075 | ) | (34,493 | ) | ||||||||||||||
| Add: | ||||||||||||||||||||||||||||
| Share-based compensation | 13,115 | 6,835 | 5,912 | 906 | 47,284 | 28,858 | 4,423 | |||||||||||||||||||||
| Reduction in force charges | 6,158 | — | — | — | 6,158 | — | — | |||||||||||||||||||||
| Impairment of long-term investment | — | — | 43,681 | 6,694 | — | 43,681 | 6,694 | |||||||||||||||||||||
| Impairment of long-lived assets | — | — | 10,952 | 1,678 | — | 10,952 | 1,678 | |||||||||||||||||||||
| Fair value gain of long-term investment | — | — | — | — | (17,231 | ) | — | — | ||||||||||||||||||||
| Adjusted net loss | (20,898 | ) | (36,858 | ) | (29,391 | ) | (4,506 | ) | (73,630 | ) | (141,584 | ) | (21,698 | ) | ||||||||||||||
| Reconciliation of Net Loss to Adjusted EBITDA: | ||||||||||||||||||||||||||||
| Net loss | (40,171 | ) | (43,693 | ) | (89,936 | ) | (13,784 | ) | (109,841 | ) | (225,075 | ) | (34,493 | ) | ||||||||||||||
| Add: | ||||||||||||||||||||||||||||
| Interest expense | 2,905 | 2,972 | 2,821 | 432 | 11,118 | 11,724 | 1,797 | |||||||||||||||||||||
| Depreciation of property and equipment | 8,508 | 10,770 | 8,286 | 1,270 | 30,391 | 37,704 | 5,778 | |||||||||||||||||||||
| Amortization of intangible assets | 713 | 1,128 | 1,083 | 166 | 2,307 | 4,368 | 669 | |||||||||||||||||||||
| Income tax expense | — | — | 86 | 13 | 162 | 86 | 13 | |||||||||||||||||||||
| EBITDA | (28,045 | ) | (28,823 | ) | (77,660 | ) | (11,903 | ) | (65,863 | ) | (171,193 | ) | (26,236 | ) | ||||||||||||||
| Add: | ||||||||||||||||||||||||||||
| Share-based compensation | 13,115 | 6,835 | 5,912 | 906 | 47,284 | 28,858 | 4,423 | |||||||||||||||||||||
| Reduction in force charges | 6,158 | — | — | — | 6,158 | — | — | |||||||||||||||||||||
| Impairment of long-term investment | — | — | 43,681 | 6,694 | — | 43,681 | 6,694 | |||||||||||||||||||||
| Impairment of long-lived assets | — | — | 10,952 | 1,678 | — | 10,952 | 1,678 | |||||||||||||||||||||
| Fair value gain of long-term investment | — | — | — | — | (17,231 | ) | — | — | ||||||||||||||||||||
| Adjusted EBITDA | (8,772 | ) | (21,988 | ) | (17,115 | ) | (2,625 | ) | (29,652 | ) | (87,702 | ) | (13,441 | ) | ||||||||||||||
AURORA MOBILE LIMITED
UNAUDITED SAAS BUSINESSES REVENUE
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
| Three months ended | Twelve months ended | ||||||||||||||||||||||||||||||
| December 31, 2019 | September 30, 2020 | December 31, 2020 | December 31, 2019 | December 31, 2020 | |||||||||||||||||||||||||||
| RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||||||||
| Reconciliation of SAAS Businesses Revenue to Total Revenue | |||||||||||||||||||||||||||||||
| Developer Service | 36,066 | 43,709 | 52,531 | 8,050 | 96,451 | 173,455 | 26,583 | ||||||||||||||||||||||||
| Subscription | 32,788 | 30,160 | 35,100 | 5,379 | 93,108 | 120,925 | 18,532 | ||||||||||||||||||||||||
| Value-Added Service | 3,278 | 13,549 | 17,431 | 2,671 | 3,343 | 52,530 | 8,051 | ||||||||||||||||||||||||
| Vertical Application | 29,166 | 21,886 | 24,090 | 3,692 | 116,723 | 84,497 | 12,950 | ||||||||||||||||||||||||
| Total SAAS Businesses Revenue | 65,232 | 65,595 | 76,621 | 11,742 | 213,174 | 257,952 | 39,533 | ||||||||||||||||||||||||
| Add: | |||||||||||||||||||||||||||||||
| Targeted Marketing Revenue | 117,531 | 43,006 | 29,373 | 4,502 | 693,284 | 213,662 | 32,745 | ||||||||||||||||||||||||
| Total Revenue | 182,763 | 108,601 | 105,994 | 16,244 | 906,458 | 471,614 | 72,278 | ||||||||||||||||||||||||
| SAAS Business Gross Profits1 | 45,853 | 48,975 | 58,683 | 8,994 | 156,441 | 194,709 | 29,840 | ||||||||||||||||||||||||
| SAAS Business Gross Margin2 | 70.3 | % | 74.7 | % | 76.6 | % | 76.6 | % | 73.4 | % | 75.5 | % | 75.5 | % | |||||||||||||||||
| 1Our SAAS Business Gross Profits is calculated after excluding the Targeted Marketing gross profit (which is calculated as revenue less media cost) from the Group’s total gross profit. | |||||||||||||||||||||||||||||||
| 2Our SAAS Business Gross Margin is calculated by dividing the SAAS Business Gross Profit by SAAS Business Revenue. | |||||||||||||||||||||||||||||||
FAQ
What were Aurora Mobile's Q4 2020 revenue results?
What is the expected revenue growth for Aurora Mobile in FY 2021?
How did Aurora Mobile's net loss change in Q4 2020?
What was the gross profit margin for Aurora Mobile in Q4 2020?
