Viomi Technology Co., Ltd Reports Second Half and Full Year 2023 Unaudited Financial Results
- Viomi reported a decrease in net revenues for the second half of 2023 compared to the same period in 2022, attributed to lower revenues from the IoT@Home portfolio, home water solutions, consumables, and small appliances.
- Gross margin increased to 23.8% in the second half of 2023, driven by a shift towards higher-margin products like water purifiers.
- Operating expenses decreased by 33.4% in the second half of 2023, mainly due to organizational streamlining and improved operational efficiency.
- Loss from operations decreased by 67.4% in the second half of 2023, leading to a reduced net loss attributable to ordinary shareholders of the Company.
- Viomi had cash and cash equivalents of RMB491.7 million as of December 31, 2023, compared to RMB737.1 million in 2022.
- For the full year 2023, Viomi reported a decrease in net revenues across its product segments, along with a decrease in gross profit and operating expenses.
- Loss from operations decreased by 57.0% in 2023 compared to 2022, resulting in a lower net loss attributable to ordinary shareholders of the Company.
- None.
Insights
The reported financial figures from Viomi Technology Co., Ltd indicate a mixed performance, with a notable decrease in net revenues year-over-year but an improvement in gross margin. The reduction in operating expenses and net loss highlights effective cost control measures and operational efficiency improvements. However, the overall revenue decline, especially in the IoT@Home portfolio, suggests a challenging market environment and possibly a need for strategic realignment. The balance sheet remains solid with a healthy cash position, which is critical for sustaining operations and investing in future growth initiatives. The company's strategic focus on the water purification sector and the establishment of a super factory could provide a competitive edge, but it also represents a concentration risk if that market segment underperforms. Investors should monitor the company's ability to execute its global expansion plans and the performance of its strategic partnership with Xiaomi Corporation.
Viomi's product mix optimization towards higher-margin products such as water purifiers and filters is a strategic move in response to the competitive landscape of the smart home industry. The company's focus on strengthening its water purification department and developing AIoT capabilities reflects an understanding of the growing demand for integrated smart home solutions. The appointment of a well-known brand spokesperson and expansion into overseas markets are steps towards enhancing brand recognition and diversifying market risk. The company's performance should be evaluated against industry benchmarks for IoT and home technology sectors, particularly in the context of consumer adoption rates and competition from established industry giants.
Viomi's emphasis on the Internet of Things (IoT) for home technology and its pivot towards AI Water and AIoT@Home segments demonstrate an alignment with industry trends towards smart home ecosystems. The company's significant investment in R&D, as evidenced by the number of patents applied for, is indicative of a commitment to innovation. However, the decrease in sales to a key partner like Xiaomi raises questions about the company's market share and customer diversification. The inauguration of the IoT Technology Park could streamline production and logistics, potentially leading to long-term cost savings and improved product quality. Yet, the success of these initiatives will depend on the company's ability to translate technological advancements into consumer demand and market share gains.
Second Half 2023 Financial and Operating Highlights
- Net revenues were
RMB1,189.0 million (US ), compared to$167.5 million RMB1,596.4 million for the second half of 2022. - Gross margin increased to
23.8% from21.6% for the second half of 2022. - Number of cumulative household users reached approximately 8.4 million, compared to approximately 7.7 million for the second half of 2022.
- Percentage of household users with at least two connected products reached
23.0% , compared to22.5% for the second half of 2022.
Full Year 2023 Financial Highlights
- Net revenues were
RMB2,493.4 million (US ), compared to$351.2 million RMB3,232.7 million for 2022. - Gross margin remained stable at
22.8% , compared to22.8% for 2022.
Mr. Xiaoping Chen, Founder and CEO of Viomi, commented: "In 2023, despite the slowdown in consumption, we implemented our 'Focus' strategy, optimizing our product mix and improving our operational performance. Driven by the restructuring of our product mix, the revenue contribution from home water solutions and consumable products increased to
"Over the past year, we have demonstrated resilience in overcoming challenges and have achieved significant progress in various areas. First, we deepened strategic collaboration with major clients, including the renewal of a three-year strategic cooperation agreement with Xiaomi Corporation. Second, we reorganized our business structure and elevated our water purification department to an independent strategic business unit, comprehensively enhancing our R&D, production, and sales capabilities across the entire water purification industry chain. Through this strategic move, Viomi has now established two major business segments, AI Water and AIoT@Home, enabling synergistic development. Third, we strengthened our capabilities in AIoT@Home and enriched our whole-house intelligence solutions to address market uncertainties and challenges we face from industry giants. Fourth, we boosted Viomi's brand influence with the appointment of Ms. Xiwei Tian, a well-known actress in
"As a leading company in the water purification sector, we have independently established a comprehensive organizational framework encompassing product design, R&D, manufacturing, and marketing, further enhancing our end-to-end, in-house water purification product capabilities. Currently, we possess the most extensive manufacturing and R&D facilities in the water purification industry and have cumulatively applied for over 1,300 patents in this field by leveraging our expertise in advanced filtration technology and material production methods. Furthermore, we have assembled an outstanding team of top talents across management, marketing, product development, and quality control.
"We have also established solid industrial advantages and competitive barriers by building a water purification industrial chain, anchored by our world-leading 'water purification super factory'. First, we have centralized water purification component production, leveraging our cutting-edge IoT Technology Park to seamlessly integrate both upstream and downstream functions. We perform machine assembly, testing, warehousing, and logistics in a single building in the park, effectively reducing production logistics costs and improving production efficiency. Second, we have constructed the industry's leading automated and intelligent water purification production lines, featuring a fully automated 'dark factory' for manufacturing key components. Comprehensive, intelligent collection and analysis of production data further empowers us to consistently improve the production process. Going forward, we will continue to capitalize on infrastructure support, deepen our investment in the water purification industry chain, and strengthen our in-house capabilities across research, production, and inspection of core components to provide users with high-quality water purification products.
"Meanwhile, we expanded our distribution network and global channels, growing domestic channels while propelling breakthroughs in overseas markets. We have gradually expanded the range of products offered to overseas markets, which spurred new growth in Viomi's overseas business and strengthened our resilience to headwind risk. Furthermore, Viomi has established strategic partnerships with leading local channels in various countries, utilizing their local resources to further enhance our overseas sales and service capabilities and promote sustainable growth of our overseas business in the future.
"As we look toward 2024, we see immense potential and opportunities in the global market, and therefore, we will continue to refine our operations across four areas. First, we remain committed to providing our users with 'healthy water' solutions, allowing them to enjoy an array of water quality and flavor options. Second, we will reinforce collaborations with our strategic business partners, continue to build our world-leading water purification super factory and strengthen the industrial chain. Third, to further accelerate the globalization of the Viomi brand, we will continually develop sales channels and expand overseas markets. Lastly, we will continue to improve quality and efficiency, striking a precise balance between scale expansion, organizational optimization, and operational and efficiency enhancements. Harnessing these strengths, we will further restore profitability, drive healthy and sustainable development, and create long-term value for users and shareholders," Mr. Chen concluded.
Second Half 2023 Financial Results
REVENUE
Net revenues were
- IoT @ Home portfolio. Revenues from the IoT @ Home portfolio decreased by
28.0% toRMB529.1 million (US ) from$74.5 million RMB735.2 million for the second half of 2022. The decrease was primarily due to the streamlining of product offerings, which was achieved by reducing certain SKUs of smart white goods, mostly in smart refrigerators, smart air conditioners, and smart washing machines. - Home water solutions. Revenues from home water solutions decreased by
20.5% toRMB317.4 million (US ) from$44.7 million RMB399.1 million for the second half of 2022. The decrease was primarily due to the lower volume of water purifiers sold to Xiaomi Corporation. - Consumables. Revenues from consumables decreased by
4.2% toRMB178.5 million (US ) from$25.1 million RMB186.4 million for the second half of 2022. The decrease was primarily due to the lower volume of water purifier filters sold to Xiaomi Corporation, partially offset by the increased sales of Viomi-branded water purifier filters. - Small appliances and others. Revenues from small appliances and others decreased by
40.5% toRMB164.0 million (US ) from$23.1 million RMB275.6 million for the second half of 2022, primarily due to the ongoing product portfolio adjustment within this category.
GROSS PROFIT
Gross profit was
OPERATING EXPENSES
Total operating expenses decreased by
Research and development expenses decreased by
Selling and marketing expenses decreased by
General and administrative expenses decreased by
LOSS FROM OPERATIONS
Loss from operations decreased by
Non-GAAP operating loss[1] was
NET LOSS
Net loss attributable to ordinary shareholders of the Company decreased by
Non-GAAP net loss attributable to ordinary shareholders[2] of the Company was
[1] "Non-GAAP operating loss" is defined as loss from operation excluding share-based compensation expenses. See "Use of Non-GAAP Measures" and "Reconciliation of GAAP and Non-GAAP Results" included in this press release. |
[2] "Non-GAAP net loss attributable to ordinary shareholders of the Company" is defined as net loss attributable to ordinary shareholders of the Company excluding share-based compensation expenses. See "Use of Non-GAAP Measures" and "Reconciliation of GAAP and Non-GAAP Results" included in this press release. |
BALANCE SHEET
As of December 31, 2023, the Company had cash and cash equivalents of
Full Year 2023 Financial Results
REVENUE
Net revenues were
- IoT @ Home portfolio. Revenues from the IoT @ Home portfolio decreased by
24.6% toRMB1,220.9 million (US ) from$172.0 million RMB1,619.9 million for 2022. - Home water solutions. Revenues from home water solutions decreased by
11.3% toRMB604.0 million (US ) from$85.1 million RMB681.1 million for 2022. - Consumables. Revenues from consumables decreased by
12.3% toRMB314.4 million (US ) from$44.3 million RMB358.4 million for 2022. - Small appliances and others. Revenues from small appliances and others decreased by
38.2% toRMB354.1 million (US ) from$49.9 million RMB573.3 million for 2022.
GROSS PROFIT
Gross profit was
OPERATING EXPENSES
Total operating expenses decreased by
Research and development expenses decreased by
Selling and marketing expenses decreased by
General and administrative expenses decreased by
LOSS FROM OPERATIONS
Loss from operations decreased by
Non-GAAP operating loss[3] was
NET LOSS
Net loss attributable to ordinary shareholders of the Company was
Non-GAAP net loss attributable to ordinary shareholders[4] of the Company was
[3] "Non-GAAP operating loss" is defined as loss from operation excluding share-based compensation expenses. See "Use of Non-GAAP Measures" and "Reconciliation of GAAP and Non-GAAP Results" included in this press release. |
[4] "Non-GAAP net loss attributable to ordinary shareholders of the Company" is defined as net loss attributable to ordinary shareholders of the Company excluding share-based compensation expenses. See "Use of Non-GAAP Measures" and "Reconciliation of GAAP and Non-GAAP Results" included in this press release. |
Conference Call
The Company's management will host a conference call at 8:00 a.m. Eastern Time on Monday, March 25, 2024 (8:00 p.m.
+1 888-346-8982 | |
International: | +1 412-902-4272 |
800-905-945 | |
+852 3018-4992 | |
Mainland | 400-120-1203 |
Conference ID: | 6672974 |
A telephone replay will be available one hour after the call until April 1, 2024, by dialing:
+1 877-344-7529 | |||||||
International: | +1 412-317-0088 | ||||||
Replay Access Code: | 6672974 |
Additionally, a live and archived webcast of the conference call will be available at http://ir.viomi.com.
About Viomi Technology
Viomi's mission is to redefine the future home via the concept of IoT @ Home.
Viomi has developed a unique IoT @ Home platform consisting of an ecosystem of innovative IoT-enabled smart home products, together with a suite of complementary consumable products and value-added businesses. This platform provides an attractive entry point into the consumer home, enabling consumers to intelligently interact with a broad portfolio of IoT products in an intuitive and human-like manner to make daily life more convenient, efficient and enjoyable, while allowing Viomi to grow its household user base and capture various additional scenario-driven consumption events in the home environment.
For more information, please visit: http://ir.viomi.com.
Use of Non-GAAP Measures
The Company uses non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to ordinary shareholders of the Company, non-GAAP basic and diluted net income per ordinary share and non-GAAP basic and diluted net income per American depositary share ("ADS"), which are non-GAAP financial measures, in evaluating its operating results and for financial and operational decision-making purposes. Non-GAAP operating income is income from operations excluding share-based compensation expenses. Non-GAAP net income is net income excluding share-based compensation expenses. Non-GAAP net income attributable to ordinary shareholders of the Company is net income attributable to ordinary shareholders excluding share-based compensation expenses. Non-GAAP basic and diluted net income per ordinary share is non-GAAP net income attributable to ordinary shareholders divided by weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share. Non-GAAP basic and diluted net income per ADS is non-GAAP net income attributable to ordinary shareholders divided by weighted average number of ADS used in the calculation of non-GAAP basic and diluted net income per ADS. The non-GAAP adjustments do not have any tax impact as share-based compensation expenses are non-deductible for income tax purpose.
The Company believes that non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, which are non-cash charges, and these measures 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.
Non-GAAP financial measures should not be considered in isolation or construed as alternative to income from operations, net income, or any other measure of performance or as an indicator of the Company's operating performance. Investors are encouraged to review the historical non-GAAP financial measures to the most directly comparable GAAP measures. Non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company's data. We encourage investors and others to review its financial information in its entirety and not rely on a single financial measure. Reconciliations of the Company's non-GAAP financial measures to the most directly comparable GAAP measures are included at the end of this press release.
Exchange Rate
The Company's business is primarily conducted in
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the
For investor and media inquiries, please contact:
In
Viomi Technology Co., Ltd
Claire Ji
E-mail: ir@viomi.com.cn
Piacente Financial Communications
Hui Fan
Tel: +86-10-6508-0677
E-mail: viomi@tpg-ir.com
In
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: viomi@tpg-ir.com
VIOMI TECHNOLOGY CO., LTD | ||||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
(All amounts in thousands, except shares, ADS, per share and per ADS data) | ||||||
As of December 31, | As of December 31, | |||||
2022 | 2023 | 2023 | ||||
RMB | RMB | US$ | ||||
Assets | ||||||
Current assets | ||||||
Cash and cash equivalents | 737,139 | 491,715 | 69,257 | |||
Restricted cash | 76,070 | 144,640 | 20,372 | |||
Short-term deposits | 171,541 | 365,838 | 51,527 | |||
Short-term investments | 197,058 | 70,369 | 9,911 | |||
Accounts and notes receivable from third parties | 241,652 | 226,802 | 31,944 | |||
Accounts receivable from a related party (net of | 360,497 |
324,223 | 45,667 | |||
Other receivables from related parties (net of | 25,021 | 224 | 32 | |||
Inventories | 502,291 | 442,219 | 62,285 | |||
Prepaid expenses and other current assets | 183,708 | 186,672 | 26,292 | |||
Long-term deposits-current portion | - | 30,000 | 4,225 | |||
Total current assets | 2,494,977 | 2,282,702 | 321,512 | |||
Non-current assets | ||||||
Prepaid expenses and other non-current assets | 22,856 | 18,824 | 2,651 | |||
Property, plant and equipment, net | 236,432 | 342,985 | 48,308 | |||
Deferred tax assets | 12,660 | 10,990 | 1,548 | |||
Intangible assets, net | 13,671 | 10,901 | 1,535 | |||
Right-of-use assets, net | 14,649 | 4,971 | 700 | |||
Land use rights, net | 60,449 | 59,177 | 8,335 | |||
Long-term deposits-non-current portion | 30,000 | - | - | |||
Long-term investment | - | 23,838 | 3,358 | |||
Total non-current assets | 390,717 | 471,686 | 66,435 | |||
Total assets | 2,885,694 | 2,754,388 | 387,947 | |||
Liabilities and shareholders' equity | ||||||
Current liabilities | ||||||
Accounts and notes payable | 844,058 | 666,333 | 93,851 | |||
Advances from customers | 118,369 | 131,338 | 18,499 | |||
Amount due to related parties | 11,548 | 18,468 | 2,601 | |||
Short-term borrowing | - | 100,000 | 14,085 | |||
Income tax payables | 16,674 | 17,779 | 2,504 | |||
Lease liabilities due within one year | 7,233 | 2,410 | 339 | |||
Long-term borrowing due within one year | 20,215 | 28,029 | 3,948 | |||
Accrued expenses and other liabilities | 308,845 | 302,214 | 42,565 | |||
Total current liabilities | 1,326,942 | 1,266,571 | 178,392 | |||
VIOMI TECHNOLOGY CO., LTD | ||||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) | ||||||
(All amounts in thousands, except shares, ADS, per share and per ADS data) | ||||||
As of December 31, | As of December 31, | |||||
2022 | 2023 | 2023 | ||||
RMB | RMB | US$ | ||||
Non-current liabilities | ||||||
Long-term borrowing | 114,552 | 128,701 | 18,127 | |||
Lease liabilities | 6,792 | 2,713 | 382 | |||
Accrued expenses and other liabilities | 8,245 | 12,766 | 1,799 | |||
Total non-current liabilities | 129,589 | 144,180 | 20,308 | |||
Total liabilities | 1,456,531 | 1,410,751 | 198,700 | |||
Shareholders' equity | ||||||
Class A Ordinary Shares ( | 6 | 6 | 1 | |||
Class B Ordinary Shares ( | 6 | 6 | 1 | |||
Treasury stock | (74,703) | (81,143) | (11,429) | |||
Additional paid-in capital | 1,357,397 | 1,353,634 | 190,655 | |||
Retained earnings | 174,385 | 89,711 | 12,636 | |||
Accumulated other comprehensive loss | (24,335) | (14,328) | (2,018) | |||
Total equity attributable to shareholders of the | 1,432,756 | 1,347,886 | 189,846 | |||
Non-controlling interests | (3,593) | (4,249) | (599) | |||
Total shareholders' equity | 1,429,163 | 1,343,637 | 189,247 | |||
Total liabilities and shareholders' equity | 2,885,694 | 2,754,388 | 387,947 | |||
VIOMI TECHNOLOGY CO., LTD | ||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF | ||||||||
COMPREHENSIVE INCOME | ||||||||
(All amounts in thousands, except shares, ADS, per share and per ADS data) | ||||||||
Six Months Ended | Twelve Months Ended | |||||||
December | December | December | December | December | December | |||
RMB | RMB | US$ | RMB | RMB | US$ | |||
Net revenues: | ||||||||
A related party | 779,598 | 746,007 | 105,073 | 1,403,354 | 1,317,314 | 185,540 | ||
Third parties | 816,774 | 442,988 | 62,394 | 1,829,377 | 1,176,072 | 165,646 | ||
Total net revenues | 1,596,372 | 1,188,995 | 167,467 | 3,232,731 | 2,493,386 | 351,186 | ||
Cost of revenues | (1,250,777) | (906,282) | (127,647) | (2,495,638) | (1,923,866) | (270,971) | ||
Gross profit | 345,595 | 282,713 | 39,820 | 737,093 | 569,520 | 80,215 | ||
Operating expenses | ||||||||
Research and development expenses | (141,204) | (113,417) | (15,974) | (299,950) | (222,911) | (31,396) | ||
Selling and marketing expenses | (294,143) | (188,222) | (26,511) | (614,887) | (401,766) | (56,588) | ||
General and administrative expenses | (81,801) | (42,707) | (6,015) | (121,702) | (81,508) | (11,480) | ||
Total operating expenses | (517,148) | (344,346) | (48,500) | (1,036,539) | (706,185) | (99,464) | ||
Other income, net | 15,113 | 10,683 | 1,505 | 22,135 | 17,510 | 2,466 | ||
Loss from operations | (156,440) | (50,950) | (7,175) | (277,311) | (119,155) | (16,783) | ||
Interest income and investment | 3,131 | 14,298 | 2,014 | 10,368 | 29,893 | 4,210 | ||
Other non-operating income (expenses) | 1,288 | (175) | (25) | 2,487 | 1,664 | 234 | ||
Loss before income tax expenses | (152,021) | (36,827) | (5,186) | (264,456) | (87,598) | (12,339) | ||
Income tax (expenses) credits | (36,523) | 4,778 | 673 | (18,174) | (1,735) | (244) | ||
Net loss | (188,544) | (32,049) | (4,513) | (282,630) | (89,333) | (12,583) | ||
Less: Net loss attributable to the non- | (2,630) | (2,301) | (324) | (7,115) | (4,659) | (656) | ||
Net loss attributable to ordinary | (185,914) | (29,748) | (4,189) | (275,515) | (84,674) | (11,927) | ||
VIOMI TECHNOLOGY CO., LTD | ||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF | ||||||||
COMPREHENSIVE INCOME (CONTINUED) | ||||||||
(All amounts in thousands, except shares, ADS, per share and per ADS data) | ||||||||
Six Months Ended | Twelve Months Ended | |||||||
December | December | December | December | December | December | |||
RMB | RMB | US$ | RMB | RMB | US$ | |||
Net loss attributable to ordinary | (185,914) | (29,748) | (4,189) | (275,515) | (84,674) | (11,927) | ||
Other comprehensive income(loss), net of tax: | ||||||||
Foreign currency translation adjustment | 23,242 | (13,119) | (1,848) | 48,785 | 10,007 | 1,409 | ||
Total comprehensive loss attributable to | (162,672) | (42,867) | (6,037) | (226,730) | (74,667) | (10,518) | ||
Net loss per ADS* | ||||||||
-Basic | (2.68) | (0.43) | (0.06) | (3.97) | (1.23) | (0.17) | ||
-Diluted | (2.68) | (0.43) | (0.06) | (3.97) | (1.23) | (0.17) | ||
Weighted average number of ADS used in | ||||||||
-Basic | 69,297,712 | 68,632,052 | 68,632,052 | 69,447,004 | 68,786,862 | 68,786,862 | ||
-Diluted | 69,297,712 | 68,632,052 | 68,632,052 | 69,447,004 | 68,786,862 | 68,786,862 | ||
Net loss per share attributable to ordinary | ||||||||
-Basic | (0.89) | (0.14) | (0.02) | (1.32) | (0.41) | (0.06) | ||
-Diluted | (0.89) | (0.14) | (0.02) | (1.32) | (0.41) | (0.06) | ||
Weighted average number of ordinary shares | ||||||||
-Basic | 207,893,136 | 205,896,157 | 205,896,157 | 208,341,011 | 206,360,586 | 206,360,586 | ||
-Diluted | 207,893,136 | 205,896,157 | 205,896,157 | 208,341,011 | 206,360,586 | 206,360,586 | ||
*Each ADS represents 3 ordinary shares. | ||||||||
(1) Share-based compensation was allocated in operating expenses as follows: | ||||||||
Six Months Ended | Twelve Months Ended | |||||||
December | December | December | December | December | December | |||
RMB | RMB | US$ | RMB | RMB | US$ | |||
General and administrative expenses | 799 | 378 | 53 | 4,415 | 1,551 | 218 | ||
Research and development expenses | 5,462 | (10) | (1) | 14,645 | 121 | 17 | ||
Selling and marketing expenses | (675) | (1,522) | (214) | 500 | (1,566) | (221) | ||
VIOMI TECHNOLOGY CO., LTD | ||||||||
Reconciliations of GAAP and Non-GAAP Results | ||||||||
(All amounts in thousands, except shares, ADS, per share and per ADS data) | ||||||||
Six Months Ended | Twelve Months Ended | |||||||
December | December | December 31, 2023 | December | December | December | |||
RMB | RMB | US$ | RMB | RMB | US$ | |||
Loss from operations | (156,440) | (50,950) | (7,175) | (277,311) | (119,155) | (16,783) | ||
Share-based compensation expenses | 5,586 | (1,154) | (162) | 19,560 | 106 | 14 | ||
Non-GAAP operating loss | (150,854) | (52,104) | (7,337) | (257,751) | (119,049) | (16,769) | ||
Net loss | (188,544) | (32,049) | (4,513) | (282,630) | (89,333) | (12,583) | ||
Share-based compensation expenses | 5,586 | (1,154) | (162) | 19,560 | 106 | 14 | ||
Non-GAAP net loss | (182,958) | (33,203) | (4,675) | (263,070) | (89,227) | (12,569) | ||
Net loss attributable to ordinary shareholders of the | (185,914) | (29,748) | (4,189) | (275,515) | (84,674) | (11,927) | ||
Share-based compensation expenses | 5,586 | (1,154) | (162) | 19,560 | 106 | 14 | ||
Non-GAAP net loss attributable to ordinary | (180,328) | (30,902) | (4,351) | (255,955) | (84,568) | (11,913) | ||
Non-GAAP net loss per ADS | ||||||||
-Basic | (2.60) | (0.45) | (0.06) | (3.69) | (1.23) | (0.17) | ||
-Diluted | (2.60) | (0.45) | (0.06) | (3.69) | (1.23) | (0.17) | ||
Weighted average number of ADS used in calculating | ||||||||
-Basic | 69,297,712 | 68,632,052 | 68,632,052 | 69,447,004 | 68,786,862 | 68,786,862 | ||
-Diluted | 69,297,712 | 68,632,052 | 68,632,052 | 69,447,004 | 68,786,862 | 68,786,862 | ||
Non-GAAP net loss per ordinary share | ||||||||
-Basic | (0.87) | (0.15) | (0.02) | (1.23) | (0.41) | (0.06) | ||
-Diluted | (0.87) | (0.15) | (0.02) | (1.23) | (0.41) | (0.06) | ||
Weighted average number of ordinary shares used in | ||||||||
-Basic | 207,893,136 | 205,896,157 | 205,896,157 | 208,341,011 | 206,360,586 | 206,360,586 | ||
-Diluted | 207,893,136 | 205,896,157 | 205,896,157 | 208,341,011 | 206,360,586 | 206,360,586 | ||
Note: The non-GAAP adjustments do not have any tax impact as share-based compensation expenses are non-deductible for | ||||||||
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SOURCE Viomi Technology Co., Ltd
FAQ
What were Viomi's net revenues for the second half of 2023 compared to the same period in 2022?
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How did Viomi reduce its operating expenses in the second half of 2023?
What was Viomi's loss from operations for the second half of 2023?
What were Viomi's net revenues for the full year of 2023 compared to 2022?
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