MOGU Announces Unaudited Financial Results for the Six Months Ended March 31, 2024 and Fiscal Year 2024
MOGU announced its unaudited financial results for the six months and fiscal year ending March 31, 2024. For the six months, total revenues decreased by 34.3% to RMB77.0 million. The loss from operations was RMB27.1 million, significantly reduced from RMB139.4 million in the same period of 2023. Key metrics include a 6% drop in GMV to RMB3.04 billion and a net loss of RMB23.9 million. For the fiscal year, total revenues fell 30.9% to RMB160.3 million, with an operational loss of RMB79.2 million, down from RMB187.4 million in 2023. The company also reported a new share repurchase program worth up to US$8 million. Despite a challenging competitive environment, MOGU aims to optimize costs and enhance operational efficiency to achieve sustainable growth.
- Loss from operations decreased to RMB27.1 million for the six months ended March 31, 2024, compared to RMB139.4 million in the same period of 2023.
- Net loss for the six months ended March 31, 2024, was RMB23.9 million, down from RMB120.5 million in the same period of 2023.
- The company announced a share repurchase program of up to US$8 million, effective until May 12, 2025.
- Total revenues for the six months ended March 31, 2024, decreased by 34.3% to RMB77.0 million compared to the same period in 2023.
- GMV for the six months ended March 31, 2024, decreased by 6% to RMB3.04 billion.
- Commission revenues for the six months ended March 31, 2024, decreased by 28.6% to RMB54.1 million.
- Marketing services revenues dropped by 85% to RMB0.2 million for the six months ended March 31, 2024.
- Adjusted EBITDA for the six months ended March 31, 2024, was negative RMB20.7 million, compared to negative RMB6.8 million in the same period of 2023.
- Total revenues for the fiscal year 2024 decreased by 30.9% to RMB160.3 million.
- Adjusted EBITDA for fiscal year 2024 was negative RMB54.6 million compared to negative RMB23.9 million in 2023.
Insights
MOGU Inc.'s financial results for the fiscal year 2024 reveal a significant decrease in total revenues by
Additionally, the company's operational restructuring into a professional services platform for KOLs aims to mitigate these challenges. This strategy, while progressive, is still in its infancy and hasn't yet significantly impacted revenue positively. MOGU's focus on cost reduction is evident, with operational losses shrinking to
Investors should note the cash and cash equivalents position of
The decline in MOGU's financial performance reflects broader trends in the online retail market in China, where live streaming e-commerce is evolving. With veterans cycling out and new KOLs rising, the competition has intensified. MOGU’s shift towards supporting KOLs with comprehensive services, such as product promotion and streaming assistance, is a strategic move to adapt to these market dynamics.
However, the current reduction in GMV and revenue suggests that these efforts are still gaining traction. The decrease in marketing services revenue by
Long-term prospects depend heavily on how well MOGU can leverage its operational restructuring to drive KOL productivity and diversify revenue streams. Investors must closely watch future quarterly reports for signs of stabilization and growth in these new operational segments.
One of the substantial changes in MOGU's approach is their transition towards providing technology-driven professional services for KOLs and merchants. This includes merchant sourcing, product promotion and streaming assistance. These services can significantly reduce operational costs for their clients, potentially leading to increased dependency on MOGU’s platform if executed well.
However, the drop in technology service revenues by
The technology sector's emphasis on agility and iteration means MOGU's future success rests on its ability to rapidly adapt and refine these services to meet market demands. Investors should look out for updates on technology partnerships and improvements in service offerings as indicators of potential turnaround.
Mr. Fan Yiming, Chief Executive Officer of MOGU, commented, “In the second half of 2024, competition in China’s online retail industry continued to intensify. Having entered its seventh year, the live streaming e-commerce industry is experiencing a new lifecycle of key opinion leaders (KOLs). Major platforms are overseeing the rise and cultivation of new KOLs, while veteran KOLs are cycling out of mainstream prominence. With evolving dynamics and challenges spanning the online retail industry, MOGU has also been impacted. In the second half of fiscal year 2024, MOGU’s gross merchandise value (GMV) decreased by
“To mitigate these challenges, we have been implementing a new operational strategy that was proposed during this fiscal year to restructure into a professional services platform. MOGU now provides KOLs with more comprehensive services including merchant sourcing, product promotion, and streaming assistance in an attempt to further reduce operational costs for merchants and KOLs. Alongside this, we are leveraging the sales expertise and service capabilities we have accrued over the years to conduct live streaming operations for merchants and KOL agency businesses. These live streaming operations run across a diverse array of channels, notably including Douyin, Kuaishou and Xiaohongshu. We believe this segment offers great potential and will be beneficial to diversifying our revenue structure.”
“During the second half of fiscal year of 2024, our total revenues decreased by
Highlights For the Six Months Ended March 31, 2024
-
Total revenues for the six months ended March 31, 2024 decreased by
34.3% toRMB77.0 million (US ) from$10.7 million RMB117.2 million during the same period of fiscal year 2023. -
Live video broadcast (“LVB”) associated GMV for the six months ended March 31, 2024 decreased by
6.8% period-over-period toRMB2,950 million (US 2).$408.6 million -
GMV for the six months ended March 31, 2024 was
RMB3,036 million (US ), a decrease of$420.5 million 6.3% period-over-period.
Financial Results For the Six Months Ended March 31, 2024
Total revenues for the six months ended March 31, 2024 decreased by
-
Commission revenues for the six months ended March 31, 2024 decreased by
28.6% toRMB54.1 million (US ) from$7.5 million RMB75.8 million in the same period of fiscal year 2023, primarily attributable to the lower GMV due to the heightened competitive environment. -
Marketing services revenues for the six months ended March 31, 2024 decreased by
85.0% toRMB0.2 million (US ) from$0.03 million RMB1.4 million in the same period of fiscal year 2023, primarily due to the challenging competitive environment. -
Financing solutions revenues for the six months ended March 31, 2024 decreased by
19.2% toRMB4.9 million (US ) from$0.7 million RMB6.0 million in the same period of fiscal year 2023. The decrease was primarily due to the decrease in the service fee of loans to users in line with the lower GMV. -
Technology service revenues for the six months ended March 31, 2024 decreased by
51.6% toRMB14.9 million (US ) from$2.1 million RMB30.8 million in the same period of fiscal year 2023, primarily attributable to the decrease of insurance technology service revenue. -
Other revenues for the six months ended March 31, 2024 decreased by
7.4% toRMB2.9 million (US ) from$0.4 million RMB3.2 million in the same period of fiscal year 2023.
Cost of revenues for the six months ended March 31, 2024 decreased by
Sales and marketing expenses for the six months ended March 31, 2024 decreased by
Research and development expenses for the six months ended March 31, 2024 decreased by
General and administrative expenses for the six months ended March 31, 2024 decreased by
Amortization of intangible assets for the six months ended March 31, 2024 decreased by
Impairment of goodwill and intangible assets for the six months ended March 31, 2024 decreased by
Loss from operations for the six months ended March 31, 2024 was
Net loss attributable to MOGU Inc. for the six months ended March 31, 2024 was
Adjusted EBITDA3 for the six months ended March 31, 2024 was negative
Adjusted net loss4 for the six months ended March 31, 2024 was
Basic and diluted loss per ADS for the six months ended March 31, 2024 were
Cash and cash equivalents, Restricted cash and Short-term investments were
Fiscal Year 2024 Financial Results
Total revenues decreased by
-
Commission revenues decreased by
25.6% toRMB109.7 million (US ) from$15.2 million RMB147.5 million in fiscal year 2023, primarily attributable to the lower GMV due to the heightened competitive environment. -
Marketing services revenues decreased by
78.2% toRMB1.0 million (US ) from$0.1 million RMB4.4 million in fiscal year 2023. The decrease was primarily due to the challenging competitive environment. -
Financing solutions revenues decreased by
20.7% toRMB10.3 million (US ) from$1.4 million RMB12.9 million in the same period of fiscal year 2023. The decrease was primarily due to the decrease in service fees of loans to users in line with the lower GMV. -
Technology service revenues increased by
43.5% toRMB33.3 million (US ) from$4.6 million RMB58.9 million in the fiscal year 2023, primarily attributable to a decrease in insurance technology services and software services revenue due to the challenging competitive environment. -
Other revenues decreased by
27.0% toRMB6.1 million (US ) from$0.8 million RMB8.3 million in fiscal year 2023, primarily due to the decrease in branding services revenue.
Cost of revenues decreased by
Sales and marketing expenses decreased by
Research and development expenses decreased by
General and administrative expenses decreased by
Amortization of intangible assets decreased by
Impairment of goodwill and intangible assets for the year ended March 31, 2024 was
Loss from operations was
Net loss attributable to MOGU Inc. was
Adjusted EBITDA was negative
Adjusted net loss was
Basic and diluted loss per ADS were
Subsequent event
On May 14, 2024, the board of directors of the Company approved a new share repurchase program where the Company is authorized to repurchase up to
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses non-GAAP measures, such as Adjusted EBITDA and Adjusted net income/loss as supplemental measures to review and assess 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 accounting principles generally accepted in
The Company presents these non-GAAP financial measures because they are used by management to evaluate operating performance and formulate business plans. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding certain expenses, gain/loss and other items that are not expected to result in future cash payments or that are nonrecurring in nature or may not be indicative of the Company’s core operating results and business outlook. The Company also believes that the non-GAAP financial measures could provide further information about the Company’s results of operations, enhance the overall understanding of the Company’s past performance and future prospects.
The non-GAAP financial measures are not defined under
For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth 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
About MOGU Inc.
MOGU Inc. (NYSE: MOGU) is a KOL-driven online fashion and lifestyle destination in
MOGU INC. |
|||||||||
Unaudited Condensed Consolidated Balance Sheets |
|||||||||
(All amounts in thousands, except for share and per share data) |
|||||||||
|
As of March 31, |
As of March 31, |
|||||||
|
2023 |
2024 |
|||||||
|
RMB |
RMB |
US$ |
||||||
ASSETS |
|
|
|
|
|
|
|||
Current assets: |
|
|
|
|
|
|
|||
Cash and cash equivalents |
416,201 |
|
358,787 |
|
49,691 |
|
|||
Restricted cash |
810 |
|
511 |
|
71 |
|
|||
Short-term investments |
145,836 |
|
61,312 |
|
8,492 |
|
|||
Inventories, net |
144 |
|
98 |
|
14 |
|
|||
Loan receivables, net |
32,229 |
|
31,564 |
|
4,372 |
|
|||
Prepayments, receivables and other current assets |
69,126 |
|
54,956 |
|
7,610 |
|
|||
Amounts due from related parties |
1,260 |
|
587 |
|
81 |
|
|||
Total current assets |
665,606 |
|
507,815 |
|
70,331 |
|
|||
Non-current assets: |
|
|
|
|
|
|
|||
Property and equipment, net |
194,589 |
|
299,741 |
|
41,514 |
|
|||
Intangible assets, net |
12,554 |
|
949 |
|
131 |
|
|||
Right-of-use assets |
5,441 |
|
2,576 |
|
357 |
|
|||
Investments |
69,318 |
|
81,808 |
|
11,330 |
|
|||
Other non-current assets |
63,640 |
|
45,473 |
|
6,298 |
|
|||
Total non-current assets |
345,542 |
|
430,547 |
|
59,630 |
|
|||
Total assets |
1,011,148 |
|
938,362 |
|
129,961 |
|
|||
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|||
Current liabilities: |
|
|
|
|
|
|
|||
Accounts payable |
8,179 |
|
6,862 |
|
950 |
|
|||
Salaries and welfare payable |
13,550 |
|
6,936 |
|
961 |
|
|||
Advances from customers |
245 |
|
207 |
|
29 |
|
|||
Taxes payable |
11,126 |
|
1,285 |
|
178 |
|
|||
Amounts due to related parties |
4,196 |
|
5,341 |
|
740 |
|
|||
Current portion of lease liabilities |
2,654 |
|
1,888 |
|
261 |
|
|||
Accruals and other current liabilities |
295,717 |
|
299,317 |
|
41,455 |
|
|||
Total current liabilities |
335,667 |
|
321,836 |
|
44,574 |
|
|||
Non-current liabilities: |
|
|
|
|
|
|
|||
Non-current lease liabilities |
753 |
|
773 |
|
107 |
|
|||
Deferred tax liabilities |
3,369 |
|
1,299 |
|
180 |
|
|||
Total non-current liabilities |
4,122 |
|
2,072 |
|
287 |
|
|||
Total liabilities |
339,789 |
|
323,908 |
|
44,861 |
|
|||
Shareholders’ equity |
|
|
|
|
|
|
|||
Ordinary shares |
181 |
|
181 |
|
25 |
|
|||
Treasury stock |
(137,446 |
) |
(137,446 |
) |
(19,036 |
) |
|||
Statutory reserves |
3,331 |
|
3,331 |
|
461 |
|
|||
Additional paid-in capital |
9,484,664 |
|
9,489,254 |
|
1,314,246 |
|
|||
Accumulated other comprehensive income |
82,396 |
|
89,567 |
|
12,405 |
|
|||
Accumulated deficit |
(8,795,764 |
) |
(8,856,494 |
) |
(1,226,610 |
) |
|||
Total MOGU Inc. shareholders’ equity |
637,362 |
|
588,393 |
|
81,491 |
|
|||
Non-controlling interests |
33,997 |
|
26,061 |
|
3,609 |
|
|||
Total shareholders’ equity |
671,359 |
|
614,454 |
|
85,100 |
|
|||
Total liabilities and shareholders’ equity |
1,011,148 |
|
938,362 |
|
129,961 |
|
The financial statements as of March 31, 2023 are being revised to correct an error related to the receipts from users, amounting to
MOGU INC. |
||||||||||||||||||
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss |
||||||||||||||||||
(All amounts in thousands, except for share and per share data) |
||||||||||||||||||
|
For the six months ended |
For the years ended |
||||||||||||||||
|
March 31, |
March 31, |
||||||||||||||||
|
2023 |
2024 |
2023 |
2024 |
||||||||||||||
|
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
||||||||||||
Net revenues |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Commission revenues |
75,814 |
|
54,123 |
|
7,496 |
|
147,514 |
|
109,742 |
|
15,199 |
|
||||||
Marketing services revenues |
1,434 |
|
215 |
|
30 |
|
4,416 |
|
961 |
|
133 |
|
||||||
Financing solutions revenues |
6,017 |
|
4,864 |
|
674 |
|
12,947 |
|
10,267 |
|
1,422 |
|
||||||
Technology service revenues |
30,790 |
|
14,900 |
|
2,064 |
|
58,867 |
|
33,288 |
|
4,610 |
|
||||||
Other revenues |
3,175 |
|
2,940 |
|
407 |
|
8,332 |
|
6,086 |
|
843 |
|
||||||
Total revenues |
117,230 |
|
77,042 |
|
10,671 |
|
232,076 |
|
160,344 |
|
22,207 |
|
||||||
Cost of revenues (exclusive of amortization of intangible assets shown separately below) |
(54,243 |
) |
(41,589 |
) |
(5,760 |
) |
(113,884 |
) |
(91,191 |
) |
(12,629 |
) |
||||||
Sales and marketing expenses |
(35,063 |
) |
(30,117 |
) |
(4,171 |
) |
(67,709 |
) |
(67,391 |
) |
(9,334 |
) |
||||||
Research and development expenses |
(16,146 |
) |
(12,845 |
) |
(1,779 |
) |
(37,068 |
) |
(26,724 |
) |
(3,701 |
) |
||||||
General and administrative expenses |
(30,704 |
) |
(27,234 |
) |
(3,772 |
) |
(63,445 |
) |
(55,148 |
) |
(7,638 |
) |
||||||
Amortization of intangible assets |
(39,970 |
) |
(75 |
) |
(10 |
) |
(59,992 |
) |
(1,901 |
) |
(263 |
) |
||||||
Impairment of goodwill and intangible assets |
(84,693 |
) |
— |
|
— |
|
(84,693 |
) |
(9,945 |
) |
(1,377 |
) |
||||||
Other income, net |
4,201 |
|
7,725 |
|
1,070 |
|
7,267 |
|
12,784 |
|
1,771 |
|
||||||
Loss from operations |
(139,388 |
) |
(27,093 |
) |
(3,751 |
) |
(187,448 |
) |
(79,172 |
) |
(10,964 |
) |
||||||
Interest income |
8,376 |
|
5,577 |
|
772 |
|
17,389 |
|
12,719 |
|
1,762 |
|
||||||
Interest expense |
(270 |
) |
(191 |
) |
(26 |
) |
(598 |
) |
(191 |
) |
(26 |
) |
||||||
Gain/(loss) from investments, net |
816 |
|
(314 |
) |
(43 |
) |
(18,615 |
) |
953 |
|
132 |
|
||||||
Loss before income tax and share of results of equity investees |
(130,466 |
) |
(22,021 |
) |
(3,048 |
) |
(189,272 |
) |
(65,691 |
) |
(9,096 |
) |
||||||
Income tax benefits/(expenses) |
897 |
|
(44 |
) |
(6 |
) |
1,983 |
|
1,618 |
|
224 |
|
||||||
Share of results of equity investee |
2,008 |
|
(2,382 |
) |
(330 |
) |
883 |
|
(2,886 |
) |
(400 |
) |
||||||
Net loss |
(127,561 |
) |
(24,447 |
) |
(3,384 |
) |
(186,406 |
) |
(66,959 |
) |
(9,272 |
) |
||||||
Net loss attributable to non-controlling interests |
(7,015 |
) |
(569 |
) |
(79 |
) |
(8,422 |
) |
(7,674 |
) |
(1,063 |
) |
||||||
Net loss attributable to MOGU Inc. |
(120,546 |
) |
(23,878 |
) |
(3,305 |
) |
(177,984 |
) |
(59,285 |
) |
(8,209 |
) |
||||||
Net loss |
(127,561 |
) |
(24,447 |
) |
(3,384 |
) |
(186,406 |
) |
(66,959 |
) |
(9,272 |
) |
||||||
Other comprehensive (loss)/income: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Foreign currency translation adjustments, net of nil tax |
(4,231 |
) |
(1,295 |
) |
(179 |
) |
14,264 |
|
3,675 |
|
509 |
|
||||||
Unrealized securities holding gains/(losses), net of tax |
302 |
|
1,794 |
|
248 |
|
(884 |
) |
3,496 |
|
484 |
|
||||||
Total comprehensive loss |
(131,490 |
) |
(23,948 |
) |
(3,315 |
) |
(173,026 |
) |
(59,788 |
) |
(8,279 |
) |
||||||
Total comprehensive loss attributable to non-controlling interests |
(7,015 |
) |
(569 |
) |
(79 |
) |
(8,422 |
) |
(7,674 |
) |
(1,063 |
) |
||||||
Total comprehensive loss attributable to MOGU Inc. |
(124,475 |
) |
(23,379 |
) |
(3,236 |
) |
(164,604 |
) |
(52,114 |
) |
(7,216 |
) |
||||||
Net loss per share attributable to ordinary shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Basic |
(0.05 |
) |
(0.01 |
) |
(0.00 |
) |
(0.07 |
) |
(0.02 |
) |
(0.00 |
) |
||||||
Diluted |
(0.05 |
) |
(0.01 |
) |
(0.00 |
) |
(0.07 |
) |
(0.02 |
) |
(0.00 |
) |
||||||
Net loss per ADS |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Basic |
(14.07 |
) |
(2.74 |
) |
(0.38 |
) |
(20.90 |
) |
(6.85 |
) |
(0.95 |
) |
||||||
Diluted |
(14.07 |
) |
(2.74 |
) |
(0.38 |
) |
(20.90 |
) |
(6.85 |
) |
(0.95 |
) |
||||||
Weighted average number of shares used in computing net loss per share |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Basic |
2,570,915,725 |
|
2,613,782,580 |
|
2,613,782,580 |
|
2,554,338,579 |
|
2,597,764,333 |
|
2,597,764,333 |
|
||||||
Diluted |
2,570,915,725 |
|
2,613,782,580 |
|
2,613,782,580 |
|
2,554,338,579 |
|
2,597,764,333 |
|
2,597,764,333 |
|
||||||
Share-based compensation expenses included in: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Cost of revenues |
640 |
|
75 |
|
10 |
|
1,448 |
|
490 |
|
68 |
|
||||||
General and administrative expenses |
2,786 |
|
1,579 |
|
219 |
|
7,855 |
|
3,342 |
|
463 |
|
||||||
Sales and marketing expenses |
950 |
|
20 |
|
3 |
|
3,398 |
|
439 |
|
61 |
|
||||||
Research and development expenses |
351 |
|
127 |
|
18 |
|
862 |
|
319 |
|
44 |
|
MOGU INC. |
||||||||||||||||||
Unaudited Condensed Consolidated Statements of Cash Flows |
||||||||||||||||||
(All amounts in thousands, except for share and per share data) |
||||||||||||||||||
|
For the six months ended |
For the years ended |
||||||||||||||||
|
March 31, |
March 31, |
||||||||||||||||
|
2023 |
2024 |
2023 |
2024 |
||||||||||||||
|
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
||||||||||||
Net cash provided by/(used in) operating activities |
5,930 |
|
(7,554 |
) |
(1,046 |
) |
(10,090 |
) |
(40,461 |
) |
(5,604 |
) |
||||||
Net cash provided by/(used in) investing activities |
28,763 |
|
1,013 |
|
140 |
|
608 |
|
(19,766 |
) |
(2,738 |
) |
||||||
Net cash used in financing activities |
(9,092 |
) |
— |
|
— |
|
(12,064 |
) |
— |
|
— |
|
||||||
Effect of foreign exchange rate changes on cash and cash equivalents and restricted cash |
(2,369 |
) |
(822 |
) |
(114 |
) |
(860 |
) |
2,514 |
|
349 |
|
||||||
Net increase/(decrease) in cash and cash equivalents and restricted cash |
23,232 |
|
(7,363 |
) |
(1,020 |
) |
(22,406 |
) |
(57,713 |
) |
(7,993 |
) |
||||||
Cash and cash equivalents and restricted cash at beginning of period |
393,779 |
|
366,661 |
|
50,782 |
|
439,417 |
|
417,011 |
|
57,755 |
|
||||||
Cash and cash equivalents and restricted cash at end of period |
417,011 |
|
359,298 |
|
49,762 |
|
417,011 |
|
359,298 |
|
49,762 |
|
MOGU INC. |
||||||||||||||||||||
Unaudited Reconciliations of GAAP and Non-GAAP Results |
||||||||||||||||||||
(All amounts in thousands, except for share and per share data) |
||||||||||||||||||||
|
|
For the six months ended |
For the years ended |
|||||||||||||||||
|
|
March 31, |
March 31, |
|||||||||||||||||
|
|
2023 |
2024 |
2023 |
2024 |
|||||||||||||||
|
|
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
|||||||||||||
|
Net loss |
(127,561 |
) |
(24,447 |
) |
(3,384 |
) |
(186,406 |
) |
(66,959 |
) |
(9,272 |
) |
|||||||
Add: |
Interest expense |
270 |
|
191 |
|
26 |
|
598 |
|
191 |
|
26 |
|
|||||||
Less: |
Income tax (benefits)/expenses |
(897 |
) |
44 |
|
6 |
|
(1,983 |
) |
(1,618 |
) |
(224 |
) |
|||||||
Less: |
Interest income |
(8,376 |
) |
(5,577 |
) |
(772 |
) |
(17,389 |
) |
(12,719 |
) |
(1,762 |
) |
|||||||
Add: |
Amortization of intangible assets |
39,970 |
|
75 |
|
10 |
|
59,992 |
|
1,901 |
|
263 |
|
|||||||
Add: |
Depreciation of property and equipment |
3,244 |
|
4,562 |
|
632 |
|
5,311 |
|
8,091 |
|
1,121 |
|
|||||||
|
EBITDA |
(93,350 |
) |
(25,152 |
) |
(3,482 |
) |
(139,877 |
) |
(71,113 |
) |
(9,848 |
) |
|||||||
Add: |
Impairment of goodwill and intangible assets |
84,693 |
|
— |
|
— |
|
84,693 |
|
9,945 |
|
1,377 |
|
|||||||
Add: |
Share-based compensation expenses |
4,727 |
|
1,801 |
|
250 |
|
13,563 |
|
4,590 |
|
636 |
|
|||||||
Add: |
Share of result of equity investees |
(2,008 |
) |
2,382 |
|
330 |
|
(883 |
) |
2,886 |
|
400 |
|
|||||||
Less: |
(Gain)/Loss from investments, net |
(816 |
) |
314 |
|
43 |
|
18,615 |
|
(953 |
) |
(132 |
) |
|||||||
|
Adjusted EBITDA |
(6,754 |
) |
(20,655 |
) |
(2,859 |
) |
(23,889 |
) |
(54,645 |
) |
(7,567 |
) |
|||||||
|
Net loss |
(127,561 |
) |
(24,447 |
) |
(3,384 |
) |
(186,406 |
) |
(66,959 |
) |
(9,272 |
) |
|||||||
Add: |
(Gain)/Loss from investments, net |
(816 |
) |
314 |
|
43 |
|
18,615 |
|
(953 |
) |
(132 |
) |
|||||||
Add: |
Share-based compensation expenses |
4,727 |
|
1,801 |
|
250 |
|
13,563 |
|
4,590 |
|
636 |
|
|||||||
Add: |
Impairment of goodwill and intangible assets |
84,693 |
|
— |
|
— |
|
84,693 |
|
9,945 |
|
1,377 |
|
|||||||
Less: |
Adjusted for tax effects |
(7,713 |
) |
— |
|
— |
|
(8,948 |
) |
(1,755 |
) |
(243 |
) |
|||||||
|
Adjusted net loss |
(46,670 |
) |
(22,332 |
) |
(3,091 |
) |
(78,483 |
) |
(55,132 |
) |
(7,634 |
) |
1 GMV are to gross merchandise volume, refers to the total value of orders placed on the MOGU platform regardless of whether the products are sold, delivered or returned, calculated based on the listed prices of the ordered products without taking into consideration any discounts on the listed prices. Buyers on the MOGU platform are not charged for separate shipping fees over the listed price of a product. If merchants include certain shipping fees in the listed price of a product, such shipping fees will be included in GMV. As a prudent matter aiming at eliminating any influence on MOGU’s GMV of irregular transactions, the Company excludes from its calculation of GMV transactions over a certain amount (
2 The
3 Adjusted EBITDA represents net loss before (i) interest income, interest expense, (gain)/loss from investments, net, income tax (benefits)/expenses and share of results of equity investees, impairment of goodwill and intangible assets and (ii) certain non-cash expenses, consisting of share-based compensation expenses, amortization of intangible assets, and depreciation of property and equipment. See “Unaudited Reconciliations of GAAP and Non-GAAP Results” at the end of this press release.
4 Adjusted net loss represents net loss excluding (i) (gain)/loss from investments, net, (ii) share-based compensation expenses, (iii) impairment of goodwill and intangible assets, (iv) adjustments for tax effects. See “Unaudited Reconciliations of GAAP and Non-GAAP Results” at the end of this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240709745398/en/
For investor and media inquiries, please contact:
MOGU Inc.
Ms. Qi Feng
Phone: +86-571-8530-8201
E-mail: ir@mogu.com
Christensen
In
Ms. Rachel Xia
Phone: +852-2232-3980
E-mail: rachel.xia@christensencomms.com
In
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com
Source: MOGU Inc.
FAQ
What were MOGU's financial results for the six months ended March 31, 2024?
How much did MOGU's gross merchandise value (GMV) change in the six months ended March 31, 2024?
What are the fiscal year 2024 revenue figures for MOGU?
What is the new share repurchase program announced by MOGU?