BEIJING, March 5, 2018 /PRNewswire/ -- Jianpu
Technology Inc. ("Jianpu," or the "Company") (NYSE: JT), a
leading independent open platform for discovery and recommendation
of financial products in China,
today announced its unaudited financial results for the fourth
quarter and fiscal year ended December 31,
2017.
Fourth Quarter 2017 Operational and Financial
Highlights:
- Number of loan applications on the Company's platform was
approximately 32.5 million in the fourth quarter of 2017,
representing an increase of approximately 383% from the prior year
period.
- Credit card volume reached approximately 1.3 million in the
fourth quarter of 2017, representing an increase of approximately
264% from the prior year period.
- Total revenues for the fourth quarter of 2017 increased by 414%
to RMB584.6 million (US$89.9 million) from RMB113.8 million for the prior year period.
- Total recommendation services revenues for the fourth quarter
of 2017 increased by 452% to RMB547.9
million (US$84.2 million) from
RMB99.3 million for the prior year
period.
- Gross profit increased by 449% to RMB523.4 million (US$80.4
million) in the fourth quarter of 2017 from RMB95.3 million in the prior year period. Gross
margin was 89.5% in the fourth quarter of 2017, compared with 83.7%
in the prior year period.
- Non-GAAP adjusted net loss1, which excluded
share-based compensation expenses from net loss, decreased by 28.2%
to RMB30.3 million (US$4.7 million) in the fourth quarter of 2017
from RMB42.2 million in the prior
year period.
- Non-GAAP adjusted EBITDA2, which excluded
share-based compensation expenses, depreciation and amortization,
and income tax expenses from net loss, for the fourth quarter of
2017 was a loss of RMB9.5 million
(US$1.5 million), representing a
decrease of 76.8% from a loss of RMB41.0
million for the prior year period.
Fiscal Year 2017 Operational and Financial Highlights
- Number of loan applications on the Company's
platform was approximately 89.8 million in the fiscal year 2017,
representing an increase of approximately 434% from fiscal year
2016.
- Credit card volume reached approximately 3.2 million in the
fiscal year 2017, representing an increase of approximately 160%
from fiscal year 2016.
- Total revenues for the fiscal year 2017 increased by 306% to
RMB1,445.8 million (US$222.2 million) from RMB356.4 million for the prior year.
- Total recommendation services revenues for the fiscal year 2017
increased by 344% to RMB 1,348.4
million (US$207.2 million)
from RMB303.8 million for the prior
year.
- Gross profit increased by 349% to RMB1,301.9 million (US$200.1 million) in the fiscal year 2017 from
RMB289.7 million in the prior year.
Gross margin was 90.0% in the fiscal year 2017, compared with 81.3%
in the prior year.
- Non-GAAP adjusted net loss, which excluded share-based
compensation expense from net loss, decreased by 46.8% to
RMB94.4 million (US$14.5 million) in the fiscal year 2017 from
RMB177.3 million in the prior
year.
- Non-GAAP adjusted EBITDA, which excluded share-based
compensation expenses, depreciation and amortization and income tax
expenses from net loss, for the fiscal year 2017 was a loss of
RMB60.2 million (US$9.3 million), representing a decrease of 65.1%
from a loss of RMB172.7 million in
the prior year.
Mr. David Ye, Chairman and Chief
Executive Officer of Jianpu, commented, "We are pleased to conclude
the robust year of 2017 by achieving impressive growth in the
fourth quarter with total revenue increasing by 414% year over year
to RMB584.6 million, primarily driven
by the growth of recommendation services. During the fourth
quarter, our peak season, we continued to see strong growth across
all product lines together with significant improvement in
operational efficiency. We believe the underpenetrated and
fragmented retail financial service market in China presents significant opportunities, and
our strong performance in 2017 is clear evidence of strong market
demand as well as the strength of our unique and highly scalable
platform model."
"With the recent development in China's regulatory environment and overall
credit infrastructure, we're confident that the regulatory
framework will support a healthier and more sustainable market for
all market participants. As an independent open platform with a
diverse network partner base and multiple product lines, we are not
only less impacted, but also better positioned to capitalize on new
opportunities in various market segments," continued Mr. Ye. "Given
the market conditions and our expectations as to how the industry
continues to evolve, we have rolled out a series of operational
developments, including product mix expansion and optimization,
strategic partnership and alliance, to leverage our model and
achieve long-term prosperity. As everyone's financial partner, we
believe our strong data and technological expertise serve as unique
advantages for us to capture tremendous market opportunities by
connecting a large user base with a variety of financial products
provided by different financial service providers."
"We are delighted to continue the robust growth trend from last
quarter and deliver impressive financial results in the fourth
quarter," said Oscar Chen, Chief
Financial Officer of Jianpu. "During the quarter, we realized
strong revenue growth with margins expansion and improved
efficiencies. Our gross profit increased by 449% year over year and
our gross margin was 89.5% in the fourth quarter 2017. We also
benefited from our improvement in operational efficiencies arising
from better monetization and marketing capabilities. On the bottom
line, we are pleased to achieve a considerable improvement in
non-GAAP adjusted net loss, which decreased by 28.2% in the fourth
quarter."
Fourth Quarter 2017 Financial Results
Total revenues for the fourth quarter of 2017 increased
by 414% to RMB584.6 million
(US$89.9 million) from RMB113.8 million for the prior year period,
primarily due to increases in revenues from recommendation
services.
Total revenues from recommendation services increased by
452% to RMB547.9 million
(US$84.2 million) from RMB99.3 million for the prior year period.
Revenues from recommendation services for loans increased
by 429% to RMB429.3 million
(US$66.0 million) in the fourth
quarter of 2017 from RMB81.2 million
in the prior year period, primarily due to the significant increase
in the number of loan applications on the Company's platform. The
number of loan applications on the Company's platform was
approximately 32.5 million in the fourth quarter of 2017,
representing an increase of approximately 383% from the prior year
period.
Revenues from recommendation services for credit cards
increased by 555% to RMB118.6 million
(US$18.2 million) in the fourth
quarter of 2017 from RMB18.1 million
in the fourth quarter of 2016, due to the increase in both credit
card volume and average fee per credit card. Credit card volume for
recommendation services reached approximately 1.1 million in the
fourth quarter of 2017, representing an increase of approximately
333% from the prior year period. Our average fee per credit card
increased to RMB104.49 (US$16.06) in the fourth quarter of 2017.
Revenues from advertising and marketing services and other
services increased by 154% to RMB36.8
million (US$5.7 million) in
the fourth quarter of 2017 from RMB14.5
million in the prior year period, primarily due to an
increase in revenues from big data and risk management solutions as
well as an increase in the advertising services provided to credit
card issuers.
Cost of revenues increased by 231% to RMB61.3 million (US$9.4
million) in the fourth quarter of 2017 from RMB18.5 million in the prior year period. The
increase was primarily attributable to the increases in traffic
acquisition costs for advertising and marketing services, data
acquisition costs, short message service fees, and share-based
compensation expenses.
Gross profit increased by 449% to RMB523.4 million (US$80.4
million) in the fourth quarter of 2017 from RMB95.3 million in the prior year period. Gross
margin was 89.5% in the fourth quarter of 2017, compared with 83.7%
in the prior year period. The increase was primarily attributable
to revenues from recommendation services continuing to grow more
rapidly than the revenues from advertising, marketing and other
services, as the former has higher gross margin than the
latter.
Sales and marketing expenses increased by 338% to
RMB500.0 million (US$76.9 million) in the fourth quarter of 2017
from RMB114.2 million in the prior
year period. The increase was mainly due to growth in marketing and
advertising expenses and payroll related costs as a result of the
rapid development of recommendation services, as well as
recognition of share-based compensation expenses in the fourth
quarter 2017 related to the employee options that were granted
historically with a performance target contingent upon IPO.
Research and development expenses increased by 271% to
RMB74.2 million (US$11.4 million) in the fourth quarter of 2017
from RMB20.0 million in the prior
year period, primarily due to the increase in payroll costs and
recognition of share-based compensation expenses in the fourth
quarter 2017 related to the employee options that were granted
historically with a performance target contingent upon IPO.
General and administrative expenses were RMB67.0 million (US$10.3
million) in the fourth quarter of 2017, as compared to
RMB4.3 million in the prior year
period, The increase was primarily due to the increase in
professional fees including one-time expenses in connection
with the Company's restructuring as the Company prepared for
its IPO, and recognition of share-based compensation expenses in
the fourth quarter 2017 related to the employee options granted
historically with a performance target contingent upon IPO and the
new options granted under 2017 Share Incentive Plan to the
management and executives in December, 2017.
The share-based compensation expenses recognized in cost of
revenues, sales and marketing expenses, research and development
expenses and general and administrative expenses in the fourth
quarter 2017 were RMB106.2 million
(US$16.3 million) in total.
Loss from operations increased to RMB117.9 million (US$18.1
million) in the fourth quarter of 2017 from RMB43.1 million in the prior year period.
Income tax expenses were RMB18.5
million (US$2.9 million) in
the fourth quarter of 2017, compared with nil in the prior year
period. The rapid business development resulted in the growth of
taxable income and consequently more tax expenses.
Net loss increased by 216% to RMB136.4 million (US$21.0
million) in the fourth quarter of 2017 from RMB43.1 million in the prior year period.
Non-GAAP adjusted net loss, which excluded share-based
compensation expenses from net loss, decreased by 28.2% to
RMB 30.3 million (US$4.7 million) in the fourth quarter of 2017
from RMB42.2 million in the prior
year period.
Non-GAAP adjusted EBITDA, which excluded share-based
compensation expenses, depreciation and amortization, and income
tax expenses from net loss, for the fourth quarter of 2017 was a
loss of RMB9.5 million (US$1.5 million), representing a decrease of 76.8%
from a loss of RMB41.0 million for
the prior year period.
Net cash generated from operating activities was
RMB55.2 million (US$8.5 million) for the fourth quarter of 2017,
compared with net cash used in operating activities of RMB8.2 million for the prior year period.
Fiscal Year 2017 Financial Results
Total revenues for the fiscal year 2017 increased by 306%
to RMB1,445.8 million (US$222.2 million) from RMB356.4 million for the prior year, primarily
due to increases in revenues from recommendation services.
Total revenues from recommendation services increased by
344% to RMB1,348.4 million
(US$207.2 million) in the fiscal year
2017 from RMB303.8 million in the
prior year.
Revenues from recommendation services for loans increased
by 369% to RMB1,119.5 million
(US$172.1 million) in the fiscal year
2017 from RMB238.8 million in the
fiscal year 2016, primarily due to the significant increase in the
number of loan applications on the Company's platform. The number
of loan applications on the Company's platform was approximately
89.8 million in the fiscal year 2017, representing an increase of
approximately 434% from the prior year.
Revenues from recommendation services for credit cards
increased by 253% to RMB228.9 million
(US$35.2 million) in the fiscal year
2017 from RMB64.9 million in the
fiscal year 2016, due to the increase in both credit card volume
and average fee per credit card. Credit card volume for
recommendation services reached approximately 2.5 million in the
fiscal year 2017, representing an increase of approximately 182%
from the prior year. Average fee per credit card increased from
RMB74.17 (US$11.40) in the fiscal year 2016 to
RMB 92.78 (US$14.26) in the fiscal year 2017.
Revenues from advertising and marketing services and other
services increased by 85.2% to RMB97.4
million (US$15.0 million) in
the fiscal year 2017 from RMB52.6
million in the prior year, primarily due to an increase in
revenues from big data and risk management solutions, as well as an
increase in the advertising services.
Cost of revenues increased by 116% to RMB143.8 million (US$22.1
million) in the fiscal year 2017 from RMB66.7 million in the prior year. The increase
was primarily attributable to the increases in traffic acquisition
costs for advertising and marketing services, data acquisition
costs and short message service fees.
Gross profit increased by 349% to RMB1,301.9 million (US$200.1 million) in the fiscal year 2017 from
RMB289.7 million in the prior year.
Gross margin was 90.0% in the fiscal year 2017, compared with 81.3%
in the prior year. The increase was primarily attributable to
revenues from recommendation services continuing to grow more
rapidly than the revenues from advertising, marketing and other
services, as the former has higher gross margin than the
latter.
Sales and marketing expenses increased by 221% to
RMB1,227.9 million (US$188.7 million) in the fiscal year 2017 from
RMB382.9 million in the prior year.
The increase was mainly due to growth in marketing and advertising
expenses and payroll related costs as a result of the rapid
development of recommendation services, as well as recognition of
share-based compensation expenses in the fourth quarter 2017
related to the employee options that were granted historically with
a performance target contingent upon IPO.
Research and development expenses increased by 111% to
RMB153.9 million (US$23.7 million) in the fiscal year 2017 from
RMB72.8 million in the prior year,
primarily due to the increase in payroll costs and recognition of
share-based compensation expenses in the fourth quarter 2017
related to the employee options that were granted historically with
a performance target contingent upon IPO.
General and administrative expenses increased by 475% to
RMB93.7 million (US$14.4 million) in the fiscal year 2017 from
RMB16.3 million in the prior year,
primarily due to the increase in professional fees including
one-time expenses in connection of the Company's restructuring as
the Company prepared for its IPO, and recognition of share-based
compensation, including the employee options granted historically
with a performance target contingent upon IPO and the new options
granted under 2017 Share Incentive Plan to the management and
executives in December, 2017.
The share-based compensation expenses recognized in cost of
revenues, sales and marketing expenses, research and development
expenses and general and administrative expenses in the fiscal year
2017 were RMB107.8 million
(US$16.6 million) in total.
Loss from operations decreased to RMB173.6 million (US$26.7
million) in the fiscal year 2017 from RMB182.3 million in the prior year.
Income tax expenses were RMB28.4
million (US$4.4 million) in
the fiscal year 2017, compared with nil in the prior year period.
The rapid business development resulted in the growth in taxable
income and consequently more tax expenses.
Net loss increased by 11.0% to RMB202.1 million (US$31.1
million) in the fiscal year 2017 from RMB182.1 million in the prior year.
Non-GAAP adjusted net loss, which excluded share-based
compensation expense from net loss, decreased by 46.8% to
RMB94.4 million (US$14.5 million) in the fiscal year 2017 from
RMB177.3 million in the prior
year.
Non-GAAP adjusted EBITDA, which excluded share-based
compensation expenses, depreciation and amortization and income tax
expenses from net loss, for the fiscal year 2017 was a loss of
RMB60.2 million (US$9.3 million), representing a decrease of 65.1%
from a loss of RMB172.7 million in
the prior year.
Net cash used in operating activities was RMB28.1 million (US$4.3
million) for the fiscal year 2017, compared with net cash
used in operating activities of RMB239.1
million in the prior year.
The company operated within the RONG360 group's corporate cash
management program prior to the completion of a group
reorganization by the end of October
2017. The RONG360 group provided RMB150 million (US$23.1
million) of initial working capital to the Company in the
form of a capital contribution. The Company received the related
cash on November 15, 2017.
As of December 31, 2017, the
Company had cash and cash equivalents of RMB1,543.8 million (US$237.3 million), and working capital of
approximately RMB1,511.9 million
(US$232.4 million).
Outlook
Based on the information available as of the date of this press
release, the Company provides the following outlook, which reflects
the Company's current and preliminary view, which is subject to
change.
First Quarter 2018
- Based on the Company's current estimates, total revenues for
the first quarter of 2018 are expected to be RMB320 million, representing an increase of 133%
on a year-over-year basis.
Conference Call
The Company's management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on
March 5, 2018 (9:00 PM Beijing/Hong Kong Time on March 5, 2018).
Dial-in details for the earnings conference call are as
follows:
United States (toll
free):
|
1-888-346-8982
|
International:
|
1-412-902-4272
|
Hong Kong (toll
free):
|
800-905-945
|
Hong Kong:
|
852-3018-4992
|
China:
|
400-120-1203
|
Participants should dial-in at least 5 minutes before the
scheduled start time and ask to be connected to the call for
"Jianpu Technology Inc."
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website at
http://ir.jianpu.ai.
A replay of the conference call will be accessible approximately
one hour after the conclusion of the live call until March 12, 2018, by dialing the following
telephone numbers:
United States (toll
free):
|
1-877-344-7529
|
International:
|
1-412-317-0088
|
Replay Access
Code:
|
10117624
|
About Jianpu Technology Inc.
Jianpu Technology Inc. (NYSE: JT) is a leading independent open
platform for discovery and recommendation of financial products in
China. By leveraging its deep data
insights and proprietary technology, Jianpu provides users with
personalized search results and recommendations that are tailored
to each user's particular financial needs and credit profile. The
Company also enables financial service providers with sales and
marketing solutions to reach and serve their target customers more
effectively through online and mobile channels and enhance their
competitiveness by providing them with tailored data, risk
management and end-to-end solutions. The Company is committed to
maintaining an independent open platform, which allows it to serve
the needs of users and financial service providers impartially. For
more information, please visit http://ir.jianpu.ai.
Use of Non-GAAP Financial Measures
The Company uses adjusted EBITDA and adjusted net loss, each a
non-GAAP financial measure, in evaluating our operating results and
for financial and operational decision-making purposes.
The Company believes that adjusted EBITDA and adjusted net loss
help identify underlying trends in our business that could
otherwise be distorted by the effect of the expenses and gains that
the Company includes in loss from operations and net loss. The
Company believes that adjusted EBITDA and adjusted net loss provide
useful information about our operating results, enhance the overall
understanding of our past performance and future prospects and
allow for greater visibility with respect to key metrics used by
our management in its financial and operational
decision-making.
Adjusted EBITDA and adjusted net loss should not be considered
in isolation or construed as alternatives to net loss or any other
measure of performance or as indicators of our operating
performance. Investors are encouraged to review the historical
non-GAAP financial measures to the most directly comparable GAAP
measures. Adjusted EBITDA and adjusted net loss 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
our data. The Company encourages investors and others to review our
financial information in its entirety and not rely on a single
financial measure.
Adjusted EBITDA represents EBITDA before share-based
compensation expenses. EBITDA represents net loss before interest,
tax, depreciation and amortization.
Adjusted net loss represents net loss before share-based
compensation expenses.
For more information on this non-GAAP financial measure, please
see the table captioned "Reconciliations of GAAP and non-GAAP
results" set forth at the end of this press 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 are made at a rate of RMB6.5063 to US$1.00, the rate in effect as of December 29, 2017 as certified for customs
purposes by the Federal Reserve Bank of New York.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
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. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company's goal and strategies; the Company's future business
development, financial condition and results of operations; the
Company's expectations regarding demand for, and market acceptance
of, its solutions and services; the Company's expectations
regarding keeping and strengthening its relationships with users,
financial service providers and other parties it collaborate with;
general economic and business conditions; and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in the Company's
filings with the SEC. All information provided in this press
release and in the attachments is as of the date of this press
release, and the Company undertakes no obligation to update any
forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please contact:
In China:
Jianpu Technology Inc.
Oscar Chen
Tel: +86 (10) 6242-7068
E-mail: IR@rong360.com
The Piacente Group, Inc.
Ross Warner
Tel: +86 (10) 5730-6200
E-mail: jianpu@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Alan Wang
Tel: +1-212-481-2050
E-mail: jianpu@tpg-ir.com
Jianpu Technology
Inc.
|
Unaudited
Condensed Consolidated Balance Sheets
|
|
(In thousands except
for number of shares
and per share data)
|
|
As of
December 31,
|
|
As
of
December 31,
|
|
2016
|
|
2017
|
|
2017
|
|
|
RMB
|
|
RMB
|
|
US$
|
ASSETS
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
—
|
|
1,543,811
|
|
237,279
|
Accounts receivable,
net(including
amounts billed through RONG360 of
RMB 141,190 as of December 31, 2017)
|
|
57,536
|
|
182,090
|
|
27,987
|
Amount due from
related
party
|
|
21,128
|
|
—
|
|
—
|
Prepayments and other
current assets
|
|
50,415
|
|
161,027
|
|
24,749
|
Total current
assets
|
|
129,079
|
|
1,886,928
|
|
290,015
|
Non‑current
assets:
|
|
|
|
|
|
|
Property and
equipment, net
|
|
4,591
|
|
18,966
|
|
2,915
|
Other non‑current
assets
|
|
813
|
|
7,621
|
|
1,171
|
Total non‑current
assets
|
|
5,404
|
|
26,587
|
|
4,086
|
Total
assets
|
|
134,483
|
|
1,913,515
|
|
294,101
|
LIABILITIES AND
INVESTED
EQUITY/SHAREHOLDERS'EQUITY
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Accounts
payable
|
|
32,433
|
|
177,373
|
|
27,262
|
Advances from
customers
|
|
18,149
|
|
71,538
|
|
10,995
|
Tax payable
|
|
1,849
|
|
17,876
|
|
2,748
|
Amount due to related
party
|
|
—
|
|
35,427
|
|
5,444
|
Accrued expenses and
other current
liabilities
|
|
29,445
|
|
72,839
|
|
11,195
|
Total current
liabilities
|
|
81,876
|
|
375,053
|
|
57,644
|
Total
liabilities
|
|
81,876
|
|
375,053
|
|
57,644
|
|
|
|
|
|
|
|
Invested
equity/Shareholders' equity:
|
|
|
|
|
|
|
RONG360 Inc.'s
investment
|
|
52,607
|
|
—
|
|
—
|
Ordinary
shares(US$0.0001 par value,
1,500,000,000 shares authorized,
68,750,000 Class A ordinary shares and
345,541,350 Class B ordinary shares
issued and outstanding as of December 31,
2017)
|
|
—
|
|
275
|
|
42
|
Additional paid-in
capital
|
|
—
|
|
1,734,067
|
|
266,521
|
Accumulated
loss
|
|
—
|
|
(174,710)
|
|
(26,852)
|
Other comprehensive
loss
|
|
—
|
|
(21,170)
|
|
(3,254)
|
Total invested
equity/Shareholders'
equity
|
|
52,607
|
|
1,538,462
|
|
236,457
|
Total liabilities
and invested
equity/Shareholders' equity
|
|
134,483
|
|
1,913,515
|
|
294,101
|
Jianpu Technology
Inc.
|
Unaudited
Condensed Consolidated Statements of Comprehensive
Loss
|
|
(In thousands except
for number of shares
and per share data)
|
|
For the Three
Months Ended December 31,
|
|
2016
|
|
2017
|
|
2017
|
|
|
RMB
|
|
RMB
|
|
US$
|
Revenues:
|
|
|
|
|
|
|
Recommendation
services:
|
|
|
|
|
|
|
Loans (including
revenues from related party
of RMB11,873 and RMB14,675 for the
three months ended December 31, 2016 and
2017, respectively.)
|
|
81,200
|
|
429,317
|
|
65,985
|
Credit
cards
|
|
18,132
|
|
118,567
|
|
18,223
|
Total recommendation
services
|
|
99,332
|
|
547,884
|
|
84,208
|
Advertising, marketing
and other services
|
|
14,494
|
|
36,760
|
|
5,651
|
Total
revenues
|
|
113,826
|
|
584,644
|
|
89,859
|
Cost of
revenue
|
|
(18,504)
|
|
(61,254)
|
|
(9,415)
|
Gross
profit
|
|
95,322
|
|
523,390
|
|
80,444
|
Operating
expenses:
|
|
|
|
|
|
|
Sales and
marketing
|
|
(114,203)
|
|
(500,025)
|
|
(76,852)
|
Research and
development
|
|
(19,973)
|
|
(74,246)
|
|
(11,411)
|
General and
administrative
|
|
(4,295)
|
|
(66,987)
|
|
(10,296)
|
Loss from
operations
|
|
(43,149)
|
|
(117,868)
|
|
(18,115)
|
Others, net
|
|
67
|
|
—
|
|
—
|
Loss before income
tax
|
|
(43,082)
|
|
(117,868)
|
|
(18,115)
|
Income tax
expense
|
|
—
|
|
(18,544)
|
|
(2,850)
|
Net
loss
|
|
(43,082)
|
|
(136,412)
|
|
(20,965)
|
Other comprehensive
loss, net
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
|
—
|
|
(21,170)
|
|
(3,254)
|
Total other
comprehensive loss
|
|
—
|
|
(21,170)
|
|
(3,254)
|
Total comprehensive
loss
|
|
(43,082)
|
|
(157,582)
|
|
(24,219)
|
|
|
|
|
|
|
|
Net loss per
share(1)
|
|
|
|
|
|
|
Basic and
diluted
|
|
(0.12)
|
|
(0.36)
|
|
(0.06)
|
Net loss per
ADS
|
|
|
|
|
|
|
Basic and
diluted
|
|
(0.30)
|
|
(0.90)
|
|
(0.15)
|
Weighted average
number of shares
|
|
|
|
|
|
|
Basic and
diluted
|
|
345,541,350
|
|
376,927,220
|
|
376,927,220
|
|
|
(In thousands except
for number of shares
and per share data)
|
|
For the Year Ended
December 31,
|
|
2016
|
|
2017
|
|
2017
|
|
|
RMB
|
|
RMB
|
|
US$
|
Revenues:
|
|
|
|
|
|
|
Recommendation
services:
|
|
|
|
|
|
|
Loans (including
revenues from related
party of RMB19,932 and RMB102,997 for
the year ended December 31, 2016 and
2017, respectively.)
|
|
238,846
|
|
1,119,456
|
|
172,057
|
Credit
cards
|
|
64,911
|
|
228,905
|
|
35,182
|
Total recommendation
services
|
|
303,757
|
|
1,348,361
|
|
207,239
|
Advertising, marketing
and other services
|
|
52,630
|
|
97,412
|
|
14,972
|
Total
revenues
|
|
356,387
|
|
1,445,773
|
|
222,211
|
Cost of
revenues
|
|
(66,683)
|
|
(143,828)
|
|
(22,106)
|
Gross
profit
|
|
289,704
|
|
1,301,945
|
|
200,105
|
Operating
expenses:
|
|
|
|
|
|
|
Sales and
marketing
|
|
(382,915)
|
|
(1,227,896)
|
|
(188,724)
|
Research and
development
|
|
(72,832)
|
|
(153,905)
|
|
(23,655)
|
General and
administrative
|
|
(16,273)
|
|
(93,718)
|
|
(14,404)
|
Loss from
operations
|
|
(182,316)
|
|
(173,574)
|
|
(26,678)
|
Others, net
|
|
191
|
|
(169)
|
|
(26)
|
Loss before income
tax
|
|
(182,125)
|
|
(173,743)
|
|
(26,704)
|
Income tax
expense
|
|
—
|
|
(28,382)
|
|
(4,362)
|
Net
loss
|
|
(182,125)
|
|
(202,125)
|
|
(31,066)
|
Other comprehensive
loss, net
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
|
—
|
|
(21,170)
|
|
(3,254)
|
Total other
comprehensive loss
|
|
—
|
|
(21,170)
|
|
(3,254)
|
Total comprehensive
loss
|
|
(182,125)
|
|
(223,295)
|
|
(34,320)
|
|
|
|
|
|
|
|
Net loss per
share(1)
|
|
|
|
|
|
|
Basic and
diluted
|
|
(0.53)
|
|
(0.57)
|
|
(0.09)
|
Net loss per
ADS
|
|
|
|
|
|
|
Basic and
diluted
|
|
(1.33)
|
|
(1.43)
|
|
(0.23)
|
Weighted average
number of shares
|
|
|
|
|
|
|
Basic and
diluted
|
|
345,541,350
|
|
353,452,309
|
|
353,452,309
|
|
|
|
|
|
|
|
|
(1)
|
The Company issued
ordinary shares to RONG360 in connection with the group
reorganization in
September 2017. 345,541,350 ordinary shares were issued and
outstanding upon the completion of the
group reorganization in October 2017, which are held by RONG360.
The issuance of ordinary shares to
RONG360 group has been retrospectively reflected for all periods
presented herein. Each two ADSs
represent five ordinary shares.
|
Jianpu Technology
Inc.
|
Unaudited
Reconciliations of GAAP and Non-GAAP Results
|
|
(In thousands except
for number of shares and per
share data)
|
|
For the Three
Months Ended December 31,
|
|
2016
|
|
2017
|
|
2017
|
|
|
RMB
|
|
RMB
|
|
US$
|
Net loss
|
|
(43,082)
|
|
(136,412)
|
|
(20,965)
|
Add: share-based
compensation expense
|
|
902
|
|
106,158
|
|
16,315
|
Non-GAAP adjusted net
loss
|
|
(42,180)
|
|
(30,254)
|
|
(4,650)
|
Add: depreciation and
amortization
|
|
1,192
|
|
2,169
|
|
333
|
Income tax
expense
|
|
—
|
|
18,544
|
|
2,850
|
Non-GAAP adjusted
EBITDA
|
|
(40,988)
|
|
(9,541)
|
|
(1,467)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands except
for number of shares and per
share data)
|
|
For the Year Ended
December 31,
|
|
2016
|
|
2017
|
|
2017
|
|
|
RMB
|
|
RMB
|
|
US$
|
Net loss
|
|
(182,125)
|
|
(202,125)
|
|
(31,066)
|
Add: share-based
compensation expense
|
|
4,817
|
|
107,766
|
|
16,563
|
Non-GAAP adjusted net
loss
|
|
(177,308)
|
|
(94,359)
|
|
(14,503)
|
Add: depreciation and
amortization
|
|
4,637
|
|
5,769
|
|
887
|
Income tax
expense
|
|
—
|
|
28,382
|
|
4,362
|
Non-GAAP adjusted
EBITDA
|
|
(172,671)
|
|
(60,208)
|
|
(9,254)
|
Jianpu Technology
Inc.
|
Unaudited
Condensed Consolidated Statements of Cash Flows
|
|
(In thousands except
for number of shares and per
share data)
|
|
For the Three
Months Ended December 31,
|
|
2016
|
|
2017
|
|
2017
|
|
|
RMB
|
|
RMB
|
|
US$
|
Net cash (used in)/
generated from operating
activities
|
|
(8,196)
|
|
55,225
|
|
8,488
|
Net cash used in
investing activities
|
|
(1,125)
|
|
(9,035)
|
|
(1,389)
|
Net cash provided
by financing activities
|
|
9,321
|
|
1,518,472
|
|
233,385
|
Effect of foreign
exchange rate changes
|
|
—
|
|
(21,170)
|
|
(3,254)
|
Net increase in cash
and cash equivalents
|
|
—
|
|
1,543,492
|
|
237,230
|
Cash and cash
equivalents at beginning of the period
|
|
—
|
|
319
|
|
49
|
Cash and cash
equivalents at end of the period
|
|
—
|
|
1,543,811
|
|
237,279
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands except
for number of shares and per
share data)
|
|
For the Year Ended
December 31,
|
|
2016
|
|
2017
|
|
2017
|
|
|
RMB
|
|
RMB
|
|
US$
|
Net cash used in
operating activities
|
|
(239,129)
|
|
(28,099)
|
|
(4,319)
|
Net cash used in
investing activities
|
|
(4,352)
|
|
(18,823)
|
|
(2,893)
|
Net cash provided
by financing activities
|
|
243,481
|
|
1,611,903
|
|
247,745
|
Effect of foreign
exchange rate changes
|
|
—
|
|
(21,170)
|
|
(3,254)
|
Net increase in cash
and cash equivalents
|
|
—
|
|
1,543,811
|
|
237,279
|
Cash and cash
equivalents at beginning of the year
|
|
—
|
|
—
|
|
—
|
Cash and cash
equivalents at end of the year
|
|
—
|
|
1,543,811
|
|
237,279
|
1 Non-GAAP
adjusted net loss represents net loss before share-based
compensation expenses. There is no income tax impact of the
non-GAAP adjustment of share-based compensation expenses. See
"Unaudited Reconciliations of GAAP and Non-GAAP Results" for more
details.
|
2 Non-GAAP
adjusted EBITDA represents EBITDA before share-based compensation
expenses. EBITDA represents net loss before interest, tax,
depreciation and amortization. See "Unaudited Reconciliations of
GAAP and Non-GAAP Results" for more details.
|
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SOURCE Jianpu Technology Inc.