ATRenew Inc. Reports Unaudited Second Quarter 2024 Financial Results
ATRenew Inc. (NYSE: RERE) reported strong financial results for Q2 2024. Total net revenues grew by 27.4% year-over-year to RMB3,776.7 million (US$519.7 million). The company significantly reduced its loss from operations to RMB5.6 million (US$0.8 million), compared to RMB61.0 million in Q2 2023. Adjusted income from operations (non-GAAP) increased to RMB94.1 million (US$12.9 million), marking a new quarterly record. The number of consumer products transacted rose to 8.4 million. ATRenew renewed its cooperation with JD.com and increased its share repurchase program to US$50.0 million. For Q3 2024, the company expects total revenues between RMB3,970.0 million and RMB4,070.0 million, representing 21.9% to 25.0% year-over-year growth.
ATRenew Inc. (NYSE: RERE) ha riportato risultati finanziari solidi per il Q2 2024. I ricavi netti totali sono aumentati del 27,4% rispetto all'anno precedente, raggiungendo RMB3.776,7 milioni (US$519,7 milioni). L'azienda ha notevolmente ridotto la sua perdita operativa a RMB5,6 milioni (US$0,8 milioni), rispetto ai RMB61,0 milioni nel Q2 2023. Il reddito operativo rettificato (non-GAAP) è aumentato a RMB94,1 milioni (US$12,9 milioni), segnando un nuovo record trimestrale. Il numero di prodotti di consumo transatti è salito a 8,4 milioni. ATRenew ha rinnovato la sua cooperazione con JD.com e ha aumentato il suo programma di riacquisto di azioni a US$50,0 milioni. Per il Q3 2024, l'azienda prevede ricavi totali tra RMB3.970,0 milioni e RMB4.070,0 milioni, rappresentando una crescita rispetto all'anno precedente del 21,9% al 25,0%
ATRenew Inc. (NYSE: RERE) reportó fuertes resultados financieros para el Q2 2024. Los ingresos netos totales crecieron un 27.4% interanual, alcanzando RMB3,776.7 millones (US$519.7 millones). La compañía redujo significativamente su pérdida operativa a RMB5.6 millones (US$0.8 millones), en comparación con RMB61.0 millones en el Q2 2023. El ingreso operativo ajustado (non-GAAP) aumentó a RMB94.1 millones (US$12.9 millones), marcando un nuevo récord trimestral. El número de productos de consumo transaccionados aumentó a 8.4 millones. ATRenew renovó su cooperación con JD.com y aumentó su programa de recompra de acciones a US$50.0 millones. Para el Q3 2024, la compañía espera ingresos totales entre RMB3,970.0 millones y RMB4,070.0 millones, lo que representa un crecimiento interanual del 21.9% al 25.0%
ATRenew Inc. (NYSE: RERE)는 2024년 2분기 강력한 재무 결과를 보고했습니다. 총 순수익은 전년 대비 27.4% 증가하여 RMB3,776.7백만 (US$519.7백만)에 도달했습니다. 이 회사는 운영 손실을 RMB5.6백만 (US$0.8백만)으로 크게 줄였으며, 이는 2023년 2분기의 RMB61.0백만에 비해 감소한 수치입니다. 조정된 운영 소득(비-GAAP)은 RMB94.1백만 (US$12.9백만)으로 증가하여 새로운 분기 기록을 경신했습니다. 거래된 소비자 제품의 수는 840만 개로 증가했습니다. ATRenew는 JD.com과의 협력을 갱신하고 자사 주식 매입 프로그램을 US$50.0백만으로 확대했습니다. 2024년 3분기에는 총 수익이 RMB3,970.0백만에서 RMB4,070.0백만 사이일 것으로 예상하며, 이는 전년 대비 21.9%에서 25.0%의 성장률을 나타냅니다
ATRenew Inc. (NYSE: RERE) a annoncé de solides résultats financiers pour le 2ème trimestre 2024. Les revenus nets totaux ont augmenté de 27,4 % d'une année sur l'autre, atteignant RMB3.776,7 millions (US$519,7 millions). L'entreprise a considérablement réduit sa perte opérationnelle à RMB5,6 millions (US$0,8 million), contre RMB61,0 millions au Q2 2023. Le revenu opérationnel ajusté (non-GAAP) a augmenté à RMB94,1 millions (US$12,9 millions), établissant un nouveau record trimestriel. Le nombre de produits de consommation échangés a grimpé à 8,4 millions. ATRenew a renouvelé sa coopération avec JD.com et a augmenté son programme de rachat d'actions à US$50,0 millions. Pour le 3ème trimestre 2024, l'entreprise prévoit des revenus totaux compris entre RMB3.970,0 millions et RMB4.070,0 millions, représentant une croissance d'année en année de 21,9 % à 25,0 %.
ATRenew Inc. (NYSE: RERE) berichtete über starke finanzielle Ergebnisse für das 2. Quartal 2024. Die gesamten Nettoumsätze stiegen im Jahresvergleich um 27,4% auf RMB3.776,7 Millionen (US$519,7 Millionen). Das Unternehmen hat seinen Verlust aus dem operativen Geschäft auf RMB5,6 Millionen (US$0,8 Millionen) erheblich reduziert, verglichen mit RMB61,0 Millionen im 2. Quartal 2023. Der angepasste operative Gewinn (non-GAAP) stieg auf RMB94,1 Millionen (US$12,9 Millionen), was einen neuen Quartalsrekord markiert. Die Anzahl der abgewickelten Konsumprodukte stieg auf 8,4 Millionen. ATRenew erneuerte die Zusammenarbeit mit JD.com und erhöhte ihr Aktienrückkauffprogramm auf US$50,0 Millionen. Für das 3. Quartal 2024 erwartet das Unternehmen Gesamterlöse zwischen RMB3.970,0 Millionen und RMB4.070,0 Millionen, was einem Wachstum von 21,9% bis 25,0% im Jahresvergleich entspricht
- Total net revenues grew by 27.4% year-over-year to RMB3,776.7 million
- Adjusted income from operations (non-GAAP) increased to RMB94.1 million, a new quarterly record
- Number of consumer products transacted rose to 8.4 million from 7.7 million in Q2 2023
- Renewed cooperation with JD.com until December 31, 2027
- Increased share repurchase program from US$20 million to US$50 million
- Expects 21.9% to 25.0% year-over-year revenue growth for Q3 2024
- Reported a net loss of RMB10.7 million (US$1.5 million)
- Basic and diluted net loss per ordinary share were RMB0.06 (US$0.01)
Insights
ATRenew's Q2 2024 results show strong growth and improved profitability. Total net revenues increased by
Key positives include:
- Product revenues grew
29% YoY, driven by increased demand for pre-owned electronics - Adjusted income from operations reached a record
RMB94.1 million - Consumer product transactions increased to 8.4 million from 7.7 million last year
The renewed partnership with JD.com and increased share repurchase program to
ATRenew's results reflect a significant shift in consumer behavior towards pre-owned electronics in China. The
- Mainstream adoption of trade-in programs for device upgrades
- Increasing demand for value-for-money second-hand products
- Growing recognition of the AHS Recycle brand
The renewed JD.com partnership strengthens ATRenew's market position. Looking ahead, national policies promoting consumer product trade-ins could further boost industry growth. However, the company faces challenges in balancing marketing spend for brand awareness with profitability goals. The circular economy model positions ATRenew well for long-term growth in the evolving Chinese consumer electronics market.
ATRenew's technology-driven platform is showing strong traction in the Chinese pre-owned electronics market. The company's focus on operational efficiency is evident in the improved profitability metrics. Key tech-related insights:
- Ongoing upgrades to operation centers and systems driving efficiency
- Increased technology and content expenses (
10.7% YoY) indicate continued innovation - Optimization of pricing mechanisms for official trade-in programs boosting margins
The partnership renewal with e-commerce giant JD.com provides valuable tech synergies and user traffic. However, ATRenew must continue investing in its platform to maintain its competitive edge in the fast-evolving digital economy landscape. The company's ability to leverage technology for efficient operations and enhanced user experiences will be important for sustained growth.
Second Quarter 2024 Highlights
- Total net revenues grew by
27.4% toRMB3,776.7 million (US ) from$519.7 million RMB2,963.7 million in the second quarter of 2023. - Loss from operations was
RMB5.6 million (US ), compared to$0.8 million RMB61.0 million in the second quarter of 2023. Adjusted income from operations (non-GAAP)[1] wasRMB94.1 million (US ), compared to$12.9 million RMB52.0 million in the second quarter of 2023. - Number of consumer products transacted[2] was 8.4 million compared to 7.7 million in the second quarter of 2023.
Mr. Kerry Xuefeng Chen, Founder, Chairman, and Chief Executive Officer of ATRenew, commented, "We are pleased to report that our total revenue in the second quarter of 2024 reached
Mr. Rex Chen, Chief Financial Officer of ATRenew, added, "In the second quarter of 2024, our retail business accounted for a higher proportion of our product revenues. At the same time, our optimizations of pricing mechanisms for major phone brands' official trade-in programs led to a sequential improvement in our profitability. We also continued to improve our cost efficiency, with adjusted income from operations exceeding
[1]. See "Reconciliations of GAAP and Non-GAAP Results" for more information. |
[2]. "Number of consumer products transacted" represents the number of consumer products distributed to merchants and consumers through transactions on the Company's PJT Marketplace, Paipai Marketplace and other channels the Company operates in a given period, prior to returns and cancellations, excluding the number of consumer products collected through AHS Recycle; a single consumer product may be counted more than once according to the number of times it is transacted on PJT Marketplace, Paipai Marketplace and other channels the Company operates through the distribution process to end consumer. |
Second Quarter 2024 Financial Results
REVENUE
Total net revenues increased by
- Net product revenues increased by
29.0% toRMB3,401.8 million (US ) from$468.1 million RMB2,636.7 million in the same period of 2023. The increase was primarily attributable to an increase in the sales of pre-owned consumer electronics both through the Company's online and offline channels. - Net service revenues increased by
14.6% toRMB374.9 million (US ), compared to$51.6 million RMB327.0 million in the same period of 2023. This increase was primarily due to an increase in the service revenue generated from PJT Marketplace and multi-category recycling business.
OPERATING COSTS AND EXPENSES
Operating costs and expenses were
- Merchandise costs were
RMB2,990.6 million (US ), compared to$411.5 million RMB2,325.8 million in the same period of 2023, representing an increase of28.6% . This was primarily due to the growth in product sales. - Fulfillment expenses were
RMB328.3 million (US ), compared to$45.2 million RMB268.8 million in the same period of 2023, representing an increase of22.1% . The increase was primarily due to (i) an increase in personnel costs as the Company conducted more recycling and transaction activities compared with the same period of 2023, and (ii) an increase in operation center related expenses as the Company expanded its store and operation station networks in the second quarter of 2024. - Selling and marketing expenses were
RMB354.0 million (US ), compared to$48.7 million RMB335.3 million in the same period of 2023, representing an increase of5.6% . The increase was primarily due to (i) an increase in advertising expenses and promotional campaign related expenses, and (ii) an increase in share-based compensation expenses. The increase was partially offset by a decrease in amortization of intangible assets and deferred cost resulting from assets and business acquisitions as the maturity of some intangible assets and deferred cost in the second quarter of 2023. - General and administrative expenses were
RMB72.5 million (US ), compared to$10.0 million RMB57.5 million in the same period of 2023, representing an increase of26.1% , primarily due to an increase in personnel cost. The increase was partially offset by a decrease in expected credit loss relating to credit risk. - Technology and content expenses were
RMB49.8 million (US ), compared to$6.9 million RMB45.0 million in the same period of 2023, representing an increase of10.7% . The increase was primarily due to an increase in personnel costs in connection with the ongoing upgrade of the Company's operation center and system.
LOSS FROM OPERATIONS
Loss from operations was
Adjusted income from operations (non-GAAP) was
NET LOSS
Net loss was
Adjusted net income (non-GAAP) was
BASIC AND DILUTED NET LOSS PER ORDINARY SHARE
Basic and diluted net loss per ordinary share were
Adjusted basic and diluted net income per ordinary share (non-GAAP) were
CASH AND CASH EQUIVALENTS, RESTRICTED CASH, SHORT-TERM INVESTMENTS AND FUNDS RECEIVABLE FROM THIRD PARTY PAYMENT SERVICE PROVIDERS
Cash and cash equivalents, restricted cash, short-term investments and funds receivable from third party payment service providers were
Business Outlook
For the third quarter of 2024, the Company currently expects its total revenues to be between
Recent Development
On May 31, 2024, ATRenew announced the renewal of its business cooperation agreement with JD.com for a term from June 1, 2024 to December 31, 2027. The two parties will continue to cooperate in the second-hand business by integrating resources and leveraging their respective strengths. The cooperation will also continue in areas such as user traffic, technology support, and logistics, among others. Together, the two parties aim to provide high quality and competitive prices for second-hand goods, thus enhancing customer experiences in the second-hand market.
On June 21, 2024, ATRenew announced that the Company's board of directors has approved modifications to the size and term of its existing share repurchase program adopted in March 2024, increasing the aggregate value of shares that may be repurchased from
Conference Call Information
The Company's management will hold a conference call on Tuesday, August 20, 2024 at 08:00 A.M. Eastern Time (or 08:00 P.M. Beijing Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers:
International: | 1-412-317-6061 | |
United States Toll Free: | 1-888-317-6003 | |
Mainland China Toll Free: | 4001-206115 | |
Hong Kong Toll Free: | 800-963976 | |
Access Code: | 9208793 |
The replay will be accessible through August 27, 2024 by dialing the following numbers:
International: | 1-412-317-0088 | |
United States Toll Free: | 1-877-344-7529 | |
Access Code: | 9659903 |
A live and archived webcast of the conference call will also be available at the Company's investor relations website at ir.atrenew.com.
About ATRenew Inc.
Headquartered in
Exchange Rate Information
This announcement contains translations of certain RMB amounts into
Use of Non-GAAP Financial Measures
The Company also uses certain non-GAAP financial measures in evaluating its business. For example, the Company uses adjusted income from operations, adjusted net income and adjusted net income per ordinary share as supplemental measures to review and assess its financial and 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
The Company presents non-GAAP financial measures because they are used by the Company's management to evaluate the Company's financial and operating performance and formulate business plans. The Company believes that adjusted income from operations and adjusted net income help identify underlying trends in the Company's business that could otherwise be distorted by the effect of certain expenses that are included in loss from operations and net loss. The Company also believes that the use of non-GAAP financial measures facilitates investors' assessment of the Company's operating performance. The Company believes that adjusted income from operations and adjusted net income provide useful information about the Company's operating results, enhance the overall understanding of the Company's past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision making.
The non-GAAP financial measures are not defined under
The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the
Investor Relations Contact
In
ATRenew Inc.
Investor Relations
Email: ir@atrenew.com
In
ICR LLC.
Email: atrenew@icrinc.com
Tel: +1-212-537-0461
ATRENEW INC. | ||||||||||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||
(Amounts in thousands, except share and per share and otherwise noted) | ||||||||||||
As of December 31, | As of June 30, | |||||||||||
2023 | 2024 | |||||||||||
RMB | RMB | US$ | ||||||||||
ASSETS | ||||||||||||
Current assets: | ||||||||||||
Cash and cash equivalents | 1,978,696 | 1,642,998 | 226,084 | |||||||||
Restricted cash | 210,000 | 232,000 | 31,924 | |||||||||
Short-term investments | 410,547 | 637,721 | 87,753 | |||||||||
Amount due from related parties, net | 89,592 | 179,711 | 24,729 | |||||||||
Inventories | 1,017,155 | 660,029 | 90,823 | |||||||||
Funds receivable from third party payment service providers | 253,107 | 255,973 | 35,223 | |||||||||
Prepayments and other receivables, net | 567,622 | 600,511 | 82,633 | |||||||||
Total current assets | 4,526,719 | 4,208,943 | 579,169 | |||||||||
Non-current assets: | ||||||||||||
Long-term investments | 467,095 | 554,478 | 76,299 | |||||||||
Property and equipment, net | 148,223 | 145,652 | 20,042 | |||||||||
Intangible assets, net | 270,631 | 146,889 | 20,213 | |||||||||
Other non-current assets | 80,411 | 67,070 | 9,229 | |||||||||
Total non-current assets | 966,360 | 914,089 | 125,783 | |||||||||
TOTAL ASSETS | 5,493,079 | 5,123,032 | 704,952 | |||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||
Current liabilities: | ||||||||||||
Short-term borrowings | 349,931 | 465,401 | 64,041 | |||||||||
Accounts payable | 532,293 | 73,153 | 10,066 | |||||||||
Contract liabilities | 119,715 | 176,458 | 24,281 | |||||||||
Accrued expenses and other current liabilities | 465,123 | 435,544 | 59,933 | |||||||||
Accrued payroll and welfare | 146,371 | 125,315 | 17,244 | |||||||||
Amount due to related parties | 78,032 | 132,845 | 18,280 | |||||||||
Total current liabilities | 1,691,465 | 1,408,716 | 193,845 | |||||||||
Non-current liabilities: | ||||||||||||
Operating lease liabilities, non-current | 22,495 | 14,942 | 2,056 | |||||||||
Deferred tax liabilities | 67,658 | 49,071 | 6,752 | |||||||||
Total non-current liabilities | 90,153 | 64,013 | 8,808 | |||||||||
TOTAL LIABILITIES | 1,781,618 | 1,472,729 | 202,653 | |||||||||
TOTAL SHAREHOLDERS' EQUITY | 3,711,461 | 3,650,303 | 502,299 | |||||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 5,493,079 | 5,123,032 | 704,952 |
ATRENEW INC. | ||||||||||||||||||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND | ||||||||||||||||||||||||
COMPREHENSIVE LOSS | ||||||||||||||||||||||||
(Amounts in thousands, except share and per share and otherwise noted) | ||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||
2023 | 2024 | 2023 | 2024 | |||||||||||||||||||||
RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
Net revenues | ||||||||||||||||||||||||
Net product revenues | 2,636,676 | 3,401,755 | 468,097 | 5,211,854 | 6,711,574 | 923,543 | ||||||||||||||||||
Net service revenues | 326,983 | 374,948 | 51,595 | 623,599 | 716,265 | 98,561 | ||||||||||||||||||
Operating (expenses) income (1)(2) | ||||||||||||||||||||||||
Merchandise costs | (2,325,763) | (2,990,642) | (411,526) | (4,577,884) | (5,938,457) | (817,159) | ||||||||||||||||||
Fulfillment expenses | (268,823) | (328,287) | (45,174) | (535,209) | (638,055) | (87,799) | ||||||||||||||||||
Selling and marketing expenses | (335,303) | (353,977) | (48,709) | (634,344) | (675,314) | (92,926) | ||||||||||||||||||
General and administrative expenses | (57,528) | (72,544) | (9,982) | (133,968) | (146,369) | (20,141) | ||||||||||||||||||
Technology and content expenses | (45,042) | (49,812) | (6,854) | (92,475) | (99,995) | (13,760) | ||||||||||||||||||
Other operating income, net | 7,836 | 12,925 | 1,779 | 9,872 | 21,331 | 2,935 | ||||||||||||||||||
Loss from operations | (60,964) | (5,634) | (774) | (128,555) | (49,020) | (6,746) | ||||||||||||||||||
Interest expense | (2,501) | (4,739) | (652) | (3,312) | (8,717) | (1,199) | ||||||||||||||||||
Interest income | 5,623 | 5,332 | 734 | 13,575 | 11,925 | 1,641 | ||||||||||||||||||
Other (loss) income, net | (1,721) | 85 | 12 | (2,291) | (41,352) | (5,690) | ||||||||||||||||||
Loss before income taxes and share of loss in equity method investments | (59,563) | (4,956) | (680) | (120,583) | (87,164) | (11,994) | ||||||||||||||||||
Income tax benefits | 11,700 | 8,540 | 1,175 | 23,560 | 18,587 | 2,558 | ||||||||||||||||||
Share of loss in equity method investments | (16,978) | (14,257) | (1,962) | (17,817) | (34,959) | (4,811) | ||||||||||||||||||
Net loss | (64,841) | (10,673) | (1,467) | (114,840) | (103,536) | (14,247) | ||||||||||||||||||
Net loss per ordinary share: | ||||||||||||||||||||||||
Basic | (0.40) | (0.06) | (0.01) | (0.71) | (0.63) | (0.09) | ||||||||||||||||||
Diluted | (0.40) | (0.06) | (0.01) | (0.71) | (0.63) | (0.09) | ||||||||||||||||||
Weighted average number of shares used in calculating net loss income per ordinary share | ||||||||||||||||||||||||
Basic | 162,923,637 | 166,616,018 | 166,616,018 | 162,541,334 | 164,048,134 | 164,048,134 | ||||||||||||||||||
Diluted | 162,923,637 | 166,616,018 | 166,616,018 | 162,541,334 | 164,048,134 | 164,048,134 | ||||||||||||||||||
Net loss | (64,841) | (10,673) | (1,467) | (114,840) | (103,536) | (14,247) | ||||||||||||||||||
Foreign currency translation adjustments | 32,103 | (330) | (45) | 21,573 | (90) | (12) | ||||||||||||||||||
Total comprehensive loss | (32,738) | (11,003) | (1,512) | (93,267) | (103,626) | (14,259) |
ATRENEW INC. | ||||||||||||||||||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND | ||||||||||||||||||||||||
COMPREHENSIVE LOSS (CONTINUED) | ||||||||||||||||||||||||
(Amounts in thousands, except share and per share and otherwise noted) | ||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||
2023 | 2024 | 2023 | 2024 | |||||||||||||||||||||
RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
(1) Includes share-based compensation expenses as follows: | ||||||||||||||||||||||||
Fulfillment expenses | (7,041) | (6,590) | (907) | (12,548) | (12,971) | (1,785) | ||||||||||||||||||
Selling and marketing expenses | (4,297) | (14,166) | (1,949) | (8,101) | (44,572) | (6,133) | ||||||||||||||||||
General and administrative expenses | (17,944) | (16,393) | (2,256) | (36,943) | (32,070) | (4,413) | ||||||||||||||||||
Technology and content expenses | (5,745) | (5,703) | (785) | (10,431) | (9,954) | (1,370) | ||||||||||||||||||
(2) Includes amortization of intangible assets and deferred cost resulting from assets and business acquisitions as follows: | ||||||||||||||||||||||||
Selling and marketing expenses | (77,430) | (56,479) | (7,772) | (155,925) | (122,891) | (16,910) | ||||||||||||||||||
Technology and content expenses | (482) | (369) | (51) | (964) | (851) | (117) |
Reconciliations of GAAP and Non-GAAP Results | ||||||||||||||||||||||||
(Amounts in thousands, except share and per share and otherwise noted) | ||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||
2023 | 2024 | 2023 | 2024 | |||||||||||||||||||||
RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
Loss from operations | (60,964) | (5,634) | (774) | (128,555) | (49,020) | (6,746) | ||||||||||||||||||
Add: | ||||||||||||||||||||||||
Share-based compensation expenses | 35,027 | 42,852 | 5,897 | 68,023 | 99,567 | 13,701 | ||||||||||||||||||
Amortization of intangible assets and deferred cost resulting from assets and business acquisitions | 77,912 | 56,848 | 7,823 | 156,889 | 123,742 | 17,027 | ||||||||||||||||||
Adjusted income from operations (non-GAAP) | 51,975 | 94,066 | 12,946 | 96,357 | 174,289 | 23,982 | ||||||||||||||||||
Net loss | (64,841) | (10,673) | (1,467) | (114,840) | (103,536) | (14,247) | ||||||||||||||||||
Add: | ||||||||||||||||||||||||
Share-based compensation expenses | 35,027 | 42,852 | 5,897 | 68,023 | 99,567 | 13,701 | ||||||||||||||||||
Amortization of intangible assets and deferred cost resulting from assets and business acquisitions | 77,912 | 56,848 | 7,823 | 156,889 | 123,742 | 17,027 | ||||||||||||||||||
Less: | ||||||||||||||||||||||||
Tax effects of amortization of intangible assets and deferred cost resulting from assets and business acquisitions | (11,700) | (8,540) | (1,175) | (23,560) | (18,587) | (2,558) | ||||||||||||||||||
Adjusted net income (non- GAAP) | 36,398 | 80,487 | 11,078 | 86,512 | 101,186 | 13,923 | ||||||||||||||||||
Adjusted net income per ordinary share (non-GAAP): | ||||||||||||||||||||||||
Basic | 0.22 | 0.48 | 0.07 | 0.53 | 0.62 | 0.08 | ||||||||||||||||||
Diluted | 0.22 | 0.48 | 0.07 | 0.51 | 0.61 | 0.08 | ||||||||||||||||||
Weighted average number of shares used in calculating net income per ordinary share | ||||||||||||||||||||||||
Basic | 162,923,637 | 166,616,018 | 166,616,018 | 162,541,334 | 164,048,134 | 164,048,134 | ||||||||||||||||||
Diluted | 168,037,389 | 169,063,102 | 169,063,102 | 168,910,942 | 164,698,650 | 164,698,650 |
View original content:https://www.prnewswire.com/news-releases/atrenew-inc-reports-unaudited-second-quarter-2024-financial-results-302226212.html
SOURCE ATRenew Inc.
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