LIZHI INC. Reports First Quarter 2021 Unaudited Financial Results
LIZHI INC. (NASDAQ: LIZI) reported a 34% increase in net revenues for Q1 2021, reaching RMB495.1 million (US$75.6 million) compared to RMB370.3 million in Q1 2020. Average mobile MAUs increased by 10% to 59.7 million, while paying users grew by 5%. Gross profit soared 72% to RMB125.1 million, with gross margin rising to 25%. Operating expenses, however, surged 64%, leading to an operating loss of RMB72.2 million. The company expressed confidence in its growth strategy amidst the challenges posed by COVID-19, emphasizing its focus on audio entertainment and overseas expansion.
- Net revenues increased by 34% year-over-year to RMB495.1 million.
- Average mobile MAUs grew to 59.7 million, marking a 10% increase.
- Gross profit rose 72% to RMB125.1 million with gross margin up to 25%.
- Operating loss increased by 51% to RMB72.2 million.
- Operating expenses surged 64% to RMB197.3 million.
- Net loss rose 45% to RMB70.0 million.
GUANGZHOU, China, June 01, 2021 (GLOBE NEWSWIRE) -- LIZHI INC. (“LIZHI” or the “Company” or “We”) (NASDAQ: LIZI), a leading online UGC1 audio community and interactive audio entertainment platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2021.
First Quarter 2021 Financial and Operational Highlights
- Net revenues were RMB495.1 million (US
$75.6 million ) in the first quarter of 2021, representing a34% increase from RMB370.3 million in the first quarter of 2020. - Average total mobile MAUs2 in the first quarter of 2021 reached 59.7 million, representing an increase of
10% from 54.5 million in the first quarter of 2020. - Average total monthly paying users3 in the first quarter of 2021 reached 474.7 thousand, representing an increase of
5% from 450.3 thousand in the first quarter of 2020.
“We kicked off 2021 with strong top line performance in the first quarter. As we continue to strengthen our comprehensive audio ecosystem, we further reinforced our globalization strategy through overseas expansion and enhanced our technological capabilities in AI and online audio to fuel business growth,” said Mr. Jinnan (Marco) Lai, Founder and Chief Executive Officer of LIZHI.
“Our determined efforts to strengthen user engagement and interactions have been key to our global audio ecosystem. In the first quarter of 2021, our average mobile MAUs grew to 59.7 million. TIYA App, our audio-based social networking app targeting overseas markets, continued its strong growth momentum in the quarter as we added new features and improved its social networking capabilities in order to engage a wider user base. Notably, TIYA App’s mobile MAUs reached more than two million in March, representing a
In the first quarter, we are effectively executing our podcast strategy and working with more leading auto companies to enhance online audio experiences for diverse usage scenarios. We have also further boosted our in-house technological capabilities with the DOREME project, an audio technology solution built to provide support to various business lines. Powered by our in-house real-time communication technology developed by DOREME, we launched an innovative and interactive feature “Livestream Podcast” on LIZHI Podcast, which was further applied to the in-car scenario, providing users a stable and smooth audio experience in diverse usage scenarios. In the future, we will continue to focus on building a competitive audio ecosystem, driving an extensive overseas expansion and further accelerating business growth with cutting-edge technologies,” concluded Mr. Lai.
Ms. Chengfang Lu, Acting Chief Financial Officer of LIZHI, commented, “We are very pleased to have achieved strong top line growth of
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1 Refers to user-generated content.
2 Refers to the average monthly number of active users across our platforms and apps in a given period, calculated by dividing (i) the sum of mobile active users for each month of such period, by (ii) the number of months in the same period.
3 Refers to the average monthly number of paying user in a given period, calculated by dividing (i) the total number of paying users in each month of such period by (ii) the number of months in the same period.
First Quarter 2021 Unaudited Financial Results
Net revenues were RMB495.1 million (US
Audio entertainment revenues reached RMB489.3 million (US
Podcast, advertising and other revenues were RMB5.7 million (US
Cost of revenues was RMB370.0 million (US
Gross profit was RMB125.1 million (US
Non-GAAP gross profit4 was RMB127.7 million (US
Gross margin for the first quarter of 2021 increased to
Operating expenses were RMB197.3 million (US
Research and development expenses were RMB56.9 million (US
Selling and marketing expenses were RMB120.8 million (US
General and administrative expenses were RMB19.6 million (US
Operating loss was RMB72.2 million (US
Non-GAAP operating loss5 was RMB64.0 million (US
_______________
4 Non-GAAP gross profit is a non-GAAP financial measure, which is defined as gross profit excluding share-based compensation expenses. These adjustments amounted to RMB2.7 million (US
5 Non-GAAP operating loss is a non-GAAP financial measure, which is defined as operating loss excluding share-based compensation expenses. These adjustments amounted to RMB8.2 million (US
Net loss was RMB70.0 million (US
Non-GAAP net loss6 was RMB61.8 million (US
Net loss attributable to LIZHI INC.'s ordinary shareholders was RMB70.0 million (US
Non-GAAP net loss attributable to LIZHI INC.'s ordinary shareholders7 was RMB61.8 million (US
Basic and diluted net loss per ADS8 were RMB1.50 (US
Non-GAAP basic and diluted net loss per ADS9 were RMB1.33 (US
Balance Sheets
As of March 31, 2021, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB318.9 million (US
Completion of Registered Direct Offering of American Depositary Shares
On April 13, 2021, the Company completed a registered direct offering of 3,685,504 American Depositary Shares (the “ADSs”) and warrants to purchase up to 2,764,128 ADSs, at an offering price of US
_______________
6 Non-GAAP net loss is a non-GAAP financial measure, which is defined as net loss excluding share-based compensation expenses. These adjustments amounted to RMB8.2 million (US
7 Non-GAAP net loss attributable to LIZHI INC.’s ordinary shareholders is a non-GAAP financial measure, which is defined as net loss attributable to LIZHI INC.’s ordinary shareholders excluding accretions to preferred shares redemption value and share-based compensation expenses. These adjustments amounted to RMB8.2 million (US
8 ADS refers to American Depositary Share. Each ADS represents twenty Class A ordinary shares of the Company. Basic and diluted net loss per ADS is net loss attributable to LIZHI INC.’s ordinary shareholders divided by weighted average number of ADS.
9 Non-GAAP basic and diluted net loss per ADS is a non-GAAP financial measure, which is defined as non-GAAP net loss attributable to LIZHI INC.’s ordinary shareholders divided by weighted average number of ADS used in the calculation of basic and diluted net loss per ADS.
Changes in Board of Directors
The Board of Directors of the Company (the "Board") approved the appointment of Mr. Junhua Zhang as an independent director as well as a member of the audit committee, compensation committee and nominating and corporate governance committee, replacing Mr. Yinquan Li, who tendered his resignation as a member of the Board as well as a member of the audit committee, compensation committee and nominating and corporate governance committee due to personal reasons, effective June 1, 2021. At the same time, the Board also approved the appointment of Mr. Ning Ding, LIZHI’s Chief Technology Officer and Director, as a member of nominating and corporate governance committee, replacing Ms. Xi (Catherine) Chen, who tendered her resignation as a member of the Board as well as a member of the nominating and corporate governance committee effective June 1, 2021.
“On behalf of the Board and management team, I would like to thank Mr. Li and Ms. Chen for their dedication and enormous contributions to the Board and LIZHI during their tenure,” said Mr. Lai, Founder and Chief Executive Officer of LIZHI. “And we are honored to welcome Mr. Zhang to join us as an independent director. With years of international experience in corporate management and strategic human resource development, we believe that having Mr. Zhang on our Board will add great value to LIZHI as we continue our efforts in developing our overseas market. We look forward to working with him and benefiting from his international management experience as we move forward with our global strategic development.”
Mr. Zhang has nearly 30 years of extensive international experience in corporate management and strategic human resource development. He has served as the Chairman for DeliveryChinatown Pte. Ltd. since April 2020, a Singapore-based technology company focusing on food delivery and e-commerce services. He also served as the Vice President of CFLD (Singapore) Investment Pte. Ltd. from 2016 to 2020. Prior to that, Mr. Zhang spent over 20 years at The Procter & Gamble Company, served as the Vice President of Human Resources in the Asia Pacific region. Mr. Zhang has a dual bachelor’s degree in Thermal Science and Energy Technology as well as Marketing from the University of Science and Technology of China.
Conference Call
The Company’s management will host an earnings conference call at 9:00 PM U.S. Eastern Time on June 1, 2021 (9:00 AM Beijing/Hong Kong Time on June 2, 2021).
To facilitate all participants dialing into the earnings conference call, online registration is required prior to the start of the call.
Please complete the Direct Event online registration at http://apac.directeventreg.com/registration/event/8082809 at least 15 minutes prior to the scheduled call start time. Upon registration, participants will receive by email the conference call access information, including dial-in numbers, Direct Event Passcode, unique Registrant ID, and further detailed instructions.
After the registration is completed, please dial-in at least 10 minutes before the scheduled start time of the earnings call and enter the Direct Event Passcode and Registrant ID as instructed to connect to the call.
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.lizhi.fm.
A replay of the conference call will be accessible approximately two hours after the conclusion of the call until June 7, 2021, by dialing the following telephone numbers:
| United States: | +1-855-452-5696 |
| International: | +61-2-8199-0299 |
| Hong Kong, China: | 800-963-117 |
| Mainland China: | 400-632-2162 |
| Replay Access Code: | 8082809 |
About LIZHI INC.
LIZHI INC. has built a cross-border audio ecosystem consisting of audio-based social networks, podcast content portfolios and audio communities. The Company aims to bring people closer together through voices by its product portfolios. LIZHI’s audio-based social networking products offering, including Tiya App, caters to users’ evolving interest in social interactions in real time online and enables users to connect with friends having similar interests, entertain, chat online, and share their daily lives through voices. LIZHI also offers a vertical podcast platform, LIZHI Podcast, that provides users with curated content drawn from its extensive content library built over the years, as well as new podcasts provided by selected content creators. Since the launch of LIZHI App in 2013, the Company’s flagship platform, LIZHI has cultivated a vibrant and growing online UGC audio community and interactive audio entertainment platform where users are encouraged to create, share, discover and enjoy audio, and experience immersive and diversified entertainment features through audio. LIZHI envisions a global audio ecosystem – a place where everyone can be connected through voices and across cultures. LIZHI INC. has been listed on Nasdaq since January 2020.
For more information, please visit: http://ir.lizhi.fm.
Use of Non-GAAP Financial Measures
The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
LIZHI uses non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss/income, non-GAAP net loss/income, non-GAAP net loss/income attributable to LIZHI INC.'s ordinary shareholders and non-GAAP basic and diluted net loss/income per ADS, which are non-GAAP financial measures. Non-GAAP gross profit is gross profit excluding share-based compensation expenses. Non-GAAP gross margin is non-GAAP gross profit as a percentage of net revenues. Non-GAAP operating loss/income is operating loss/income excluding share-based compensation expenses. Non-GAAP net loss/income is net loss excluding share-based compensation expenses. Non-GAAP net loss/income attributable to LIZHI INC.'s ordinary shareholders is net loss attributable to LIZHI INC.’s ordinary shareholders excluding accretions to preferred shares redemption value and share-based compensation expenses. Non-GAAP basic and diluted net loss/income per ADS is non-GAAP net loss/income attributable to LIZHI INC.’s ordinary shareholders divided by weighted average number of ADS used in the calculation of basic and diluted net loss per ADS. The Company believes that separate analysis and exclusion of the non-cash impact of above reconciling items adds clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measure for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measure is useful supplemental information for investors and analysts to assess its operating performance without the non-cash effect of accretions to preferred shares redemption value and share-based compensation expenses.
However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company’s net loss for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from, superior to, or as an alternative to the financial measure prepared in accordance with U.S. GAAP.
The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” near the end of this release.
Statement Regarding Preliminary Unaudited Financial Information
The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments. Adjustments to the condensed consolidated financial statements may be identified when audit work has been performed for the Company’s year-end audit, which could result in significant differences from the preliminary unaudited financial information contained in this earnings 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 and from U.S. dollars to RMB are made at a rate of RMB6.5518 to US
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
LIZHI INC.
IR Department
Tel: +86 (20) 3866-4265
E-mail: ir@lizhi.fm
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: Lizhi@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: Lizhi@tpg-ir.com
LIZHI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except for share, ADS, per share data and per ADS data)
| December 31, 2020 | March 31, 2021 | March 31, 2021 | ||||
| RMB | RMB | US$ | ||||
| ASSETS | ||||||
| Current assets | ||||||
| Cash and cash equivalents | 315,459 | 304,898 | 46,537 | |||
| Short-term investments | 73,022 | 10,319 | 1,575 | |||
| Restricted cash | 3,695 | 3,695 | 564 | |||
| Accounts receivable, net | 8,361 | 8,978 | 1,370 | |||
| Prepayments and other current assets | 19,371 | 32,750 | 4,999 | |||
| Total current assets | 419,908 | 360,640 | 55,045 | |||
| Non-current assets | ||||||
| Property, equipment and leasehold improvement, net | 34,518 | 33,229 | 5,072 | |||
| Intangible assets, net | 2,929 | 2,607 | 398 | |||
| Right-of-use assets, net | 4,282 | 7,922 | 1,209 | |||
| Other non-current assets | 2,181 | 1,821 | 278 | |||
| Total non-current assets | 43,910 | 45,579 | 6,957 | |||
| TOTAL ASSETS | 463,818 | 406,219 | 62,002 | |||
| LIABILITIES | ||||||
| Current liabilities | ||||||
| Accounts payable | 78,267 | 69,939 | 10,675 | |||
| Deferred revenue | 17,001 | 18,438 | 2,814 | |||
| Salary and welfare payable | 93,288 | 96,601 | 14,744 | |||
| Taxes payable | 5,809 | 3,534 | 539 | |||
| Short-term loans | 39,508 | 35,200 | 5,373 | |||
| Lease liabilities due within one year | 3,709 | 4,596 | 701 | |||
| Accrued expenses and other current liabilities | 51,047 | 60,924 | 9,300 | |||
| Total current liabilities | 288,629 | 289,232 | 44,146 | |||
| Non-current liabilities | ||||||
| Lease liabilities | 587 | 3,391 | 518 | |||
| Other non-current liabilities | 5,411 | 5,234 | 799 | |||
| Total non-current liabilities | 5,998 | 8,625 | 1,317 | |||
| TOTAL LIABILITIES | 294,627 | 297,857 | 45,463 | |||
LIZHI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except for share, ADS, per share data and per ADS data)
| December 31, 2020 | March 31, 2021 | March 31, 2021 | ||||
| RMB | RMB | US$ | ||||
| SHAREHOLDERS’ EQUITY | ||||||
| Ordinary shares (US | 640 | 650 | 99 | |||
| Treasury stock | (12) | (20) | (3) | |||
| Additional paid in capital | 2,409,753 | 2,417,823 | 369,032 | |||
| Accumulated deficit | (2,239,281) | (2,309,318) | (352,471) | |||
| Accumulated other comprehensive income | (1,909) | (773) | (118) | |||
| TOTAL SHAREHOLDERS’ EQUITY | 169,191 | 108,362 | 16,539 | |||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 463,818 | 406,219 | 62,002 | |||
LIZHI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
(All amounts in thousands, except for share, ADS, per share data and per ADS data)
| Three Months Ended | |||||||
| March 31, 2020 | December 31, 2020 | March 31, 2021 | March 31, 2021 | ||||
| RMB | RMB | RMB | US$ | ||||
| Net revenues | |||||||
| Audio entertainment revenues | 366,435 | 414,731 | 489,306 | 74,683 | |||
| Podcast, advertising and other revenues | 3,835 | 5,522 | 5,747 | 877 | |||
| Total net revenues | 370,270 | 420,253 | 495,053 | 75,560 | |||
| Cost of revenues (1) | (297,384) | (301,250) | (369,993) | (56,472) | |||
| Gross profit | 72,886 | 119,003 | 125,060 | 19,088 | |||
| Operating expenses (1) | - | - | - | ||||
| Selling and marketing expenses | (35,745) | (48,682) | (120,790) | (18,436) | |||
| General and administrative expenses | (26,392) | (20,283) | (19,617) | (2,994) | |||
| Research and development expenses | (58,447) | (56,442) | (56,868) | (8,680) | |||
| Total operating expenses | (120,584) | (125,407) | (197,275) | (30,110) | |||
| Operating loss | (47,698) | (6,404) | (72,215) | (11,022) | |||
| Interest income/(expenses), net | (87) | (366) | (248) | (38) | |||
| Foreign exchange losses | (638) | (158) | (149) | (23) | |||
| Investment income | 5 | 464 | 407 | 62 | |||
| Government grants | 1,857 | 3,198 | 2,917 | 445 | |||
| Others, net | (1,674) | (1,582) | (749) | (114) | |||
| Loss before income taxes | (48,235) | (4,848) | (70,037) | (10,690) | |||
| Income tax expenses | - | (999) | - | - | |||
| Net loss | (48,235) | (5,847) | (70,037) | (10,690) | |||
| Accretions to preferred shares redemption value | (154,066) | - | - | - | |||
| Net loss attributable to LIZHI INC.’s ordinary shareholders | (202,301) | (5,847) | (70,037) | (10,690) | |||
LIZHI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
(All amounts in thousands, except for share, ADS, per share data and per ADS data)
| Three Months Ended | ||||||||
| March 31, 2020 | December 31, 2020 | March 31, 2021 | March 31, 2021 | |||||
| RMB | RMB | RMB | US$ | |||||
| Net loss | (48,235) | (5,847) | (70,037) | (10,690) | ||||
| Other comprehensive income/(loss): | ||||||||
| Foreign currency translation adjustments | 6,571 | (6,609) | 1,136 | 173 | ||||
| Total comprehensive loss | (41,664) | (12,456) | (68,901) | (10,517) | ||||
| Accretions to preferred shares redemption value | (154,066) | - | - | - | ||||
| Comprehensive loss attributable to LIZHI INC.’s ordinary shareholders | (195,730) | (12,456) | (68,901) | (10,517) | ||||
| Net loss attributable to LIZHI INC.’s ordinary shareholders per share | ||||||||
| —Basic | (0.27) | (0.01) | (0.08) | (0.01) | ||||
| —Diluted | (0.27) | (0.01) | (0.08) | (0.01) | ||||
| Weighted average number of ordinary shares | ||||||||
| —Basic | 758,726,397 | 929,423,396 | 930,843,416 | 930,843,416 | ||||
| —Diluted | 758,726,397 | 929,423,396 | 930,843,416 | 930,843,416 | ||||
| Net loss attributable to LIZHI INC.’s ordinary shareholders per ADS | ||||||||
| —Basic | (5.33) | (0.13) | (1.50) | (0.23) | ||||
| —Diluted | (5.33) | (0.13) | (1.50) | (0.23) | ||||
| Weighted average number of ADS | ||||||||
| —Basic | 37,936,320 | 46,471,170 | 46,542,171 | 46,542,171 | ||||
| —Diluted | 37,936,320 | 46,471,170 | 46,542,171 | 46,542,171 | ||||
(1) Share-based compensation was allocated in cost of revenues and operating expenses as follows:
| Three Months Ended | |||||||
| March 31, 2020 | December 31, 2020 | March 31, 2021 | March 31, 2021 | ||||
| RMB | RMB | RMB | US$ | ||||
| Cost of revenues | 5,156 | 3,572 | 2,670 | 408 | |||
| Selling and marketing expenses | 869 | 438 | 283 | 43 | |||
| General and administrative expenses | 7,015 | 4,306 | 3,228 | 493 | |||
| Research and development expenses | 5,998 | 2,942 | 2,064 | 315 | |||
LIZHI INC.
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(All amounts in thousands, except for share, ADS, per share data and per ADS data)
| Three Months Ended | ||||||||
| March 31, 2020 | December 31, 2020 | March 31, 2021 | March 31, 2021 | |||||
| RMB | RMB | RMB | US$ | |||||
| Gross profit | 72,886 | 119,003 | 125,060 | 19,088 | ||||
| Share-based compensation expenses | 5,156 | 3,572 | 2,670 | 408 | ||||
| Non-GAAP gross profit | 78,042 | 122,575 | 127,730 | 19,496 | ||||
| Operating loss | (47,698) | (6,404) | (72,215) | (11,022) | ||||
| Share-based compensation expenses | 19,038 | 11,258 | 8,245 | 1,259 | ||||
| Non-GAAP operating (loss)/income | (28,660) | 4,854 | (63,970) | (9,763) | ||||
| Net loss | (48,235) | (5,847) | (70,037) | (10,690) | ||||
| Share-based compensation expenses | 19,038 | 11,258 | 8,245 | 1,259 | ||||
| Non-GAAP net (loss)/income | (29,197) | 5,411 | (61,792) | (9,431) | ||||
| Net loss attributable to LIZHI INC.’s ordinary shareholders | (202,301) | (5,847) | (70,037) | (10,690) | ||||
| Share-based compensation expenses | 19,038 | 11,258 | 8,245 | 1,259 | ||||
| Accretions to preferred shares redemption value | 154,066 | - | - | - | ||||
| Non-GAAP net (loss)/income attributable to LIZHI INC.’s ordinary shareholders | (29,197) | 5,411 | (61,792) | (9,431) | ||||
| Non-GAAP net (loss)/income attributable to LIZHI INC.’s ordinary shareholders per share | ||||||||
| —Basic | (0.04) | 0.01 | (0.07) | (0.01) | ||||
| —Diluted | (0.04) | 0.01 | (0.07) | (0.01) | ||||
| Weighted average number of ordinary shares | ||||||||
| —Basic | 758,726,397 | 929,423,396 | 930,843,416 | 930,843,416 | ||||
| —Diluted | 758,726,397 | 935,239,904 | 930,843,416 | 930,843,416 | ||||
| Non-GAAP net (loss)/income attributable to LIZHI INC.’s ordinary shareholders per ADS | ||||||||
| —Basic | (0.77) | 0.12 | (1.33) | (0.20) | ||||
| —Diluted | (0.77) | 0.12 | (1.33) | (0.20) | ||||
| Weighted average number of ADS | ||||||||
| —Basic | 37,936,320 | 46,471,170 | 46,542,171 | 46,542,171 | ||||
| —Diluted | 37,936,320 | 46,761,995 | 46,542,171 | 46,542,171 | ||||
FAQ
What were LIZHI's net revenues for Q1 2021?
How many mobile MAUs did LIZHI have in Q1 2021?
What was LIZHI's net loss in Q1 2021?
How did LIZHI's operating expenses change in Q1 2021?
What is LIZHI's strategy for growth?
