BEIJING, Aug. 27, 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 second
quarter ended June 30, 2018.
Second Quarter 2018 Operational Highlights:
- Number of loan applications submitted through the Company's
platform was approximately 21.2 million in the second quarter of
2018, representing an increase of approximately 11.0% from the same
period of 2017 and an increase of approximately 75.2% from the
first quarter of 2018.
- Credit card volume, which is the measure of the number of
credit cards the Company generates revenues from, was approximately
1.6 million in the second quarter of 2018, representing an increase
of approximately 167% from the same period of 2017 and an increase
of approximately 6.7% from the first quarter of 2018.
Second Quarter 2018 Financial Highlights:
- Total revenues for the second quarter of 2018 increased by
91.6% to RMB490.4 million
(US$74.1 million) from RMB256.0 million in the same period of 2017.
- Total recommendation services revenues for the second quarter
of 2018 increased by 86.2% to RMB441.0
million (US$66.6 million) from
RMB236.9 million in the same period
of 2017.
- Gross profit increased by 85.3% to RMB431.2 million (US$65.2
million) in the second quarter of 2018 from RMB232.7 million in the same period of 2017.
Gross margin was 87.9% in the second quarter of 2018, compared with
85.3% in the first quarter of 2018.
- Net loss was RMB61.1 million
(US$9.2 million) in the second
quarter of 2018 and was RMB17.4
million in the same period of 2017. Net loss margin was
-12.5% in the second quarter of 2018 compared with -6.8% in the
same period of 2017. Non-GAAP adjusted net loss was RMB28.5 million (US$4.3
million) in the second quarter of 2018 and was RMB16.9 million in the same period of 2017.
Non-GAAP adjusted net margin[1] improved to -5.8% from
-6.6% in the same period of 2017.
|
[1]
Non-GAAP adjusted net margin equals Non-GAAP adjusted net loss
divided by Total Revenue. 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 for Non-GAAP adjusted net
loss.
|
First Six Months 2018 Operational Highlights:
- Number of loan applications submitted through the Company's
platform was approximately 33.3 million in the first six months of
2018, representing an increase of approximately 14.4% from the same
period of 2017.
- Credit card volume, which is the measure of the number of
credit cards the Company generates revenues from, was approximately
3.1 million in the first six months of 2018, representing an
increase of approximately 244% from the same period of 2017.
First Six Months 2018 Financial Highlights:
- Total revenues for the first six months of 2018 increased by
110% to RMB826.0 million
(US$124.8 million) from RMB393.4 million in the same period of 2017.
- Total recommendation services revenues for the first six months
of 2018 increased by 102% to RMB730.3
million (US$110.4 million)
from RMB362.1 million in the same
period of 2017.
- Gross profit increased by 104% to RMB717.6 million (US$108.4
million) in the first six months of 2018 from RMB352.6 million in the same period of 2017.
- Net loss was RMB118.2 million
(US$17.9 million) in the first six
months of 2018 and was RMB49.0
million in the same period of 2017. Net loss margin was
-14.3% in the first six months of 2018 compared with -12.5% in the
same period of 2017. Non-GAAP adjusted net loss was RMB48.3 million (US$7.3
million) in the first six months of 2018 and was
RMB47.9 million in the same period of
2017. Non-GAAP adjusted net margin improved to -5.8% from -12.2% in
the same period of 2017.
Mr. David Ye, Chairman and Chief
Executive Officer of Jianpu, commented, "We are pleased with solid
operating and financial performance for the second quarter of 2018,
highlighted by continued robust growth in both our credit card and
loan application business. We're also encouraged by rising demand
for our big data and risk management services in the quarter in
light of more competition and the evolving regulatory framework in
the financial service sector. Our cooperation with financial
service providers is becoming more diversified, with an increasing
scope and depth to these collaborations. As a platform, Jianpu is
dedicated to maintaining independent and open to enable financial
service providers and deepening our relationship with them through
complementary cross selling of our products and services."
"During the second quarter, we remained focus on enhancing our
operating efficiency, with non-GAAP adjusted net margin improving
to -5.8% from -6.6% in the second quarter of 2017. (GAAP equivalent
measure net loss margin was -12.5% in the second quarter of 2018
compared with -6.8% in the same period of 2017.) At the same time,
we further expanded our R&D and marketing capabilities to fuel
our future growth. We have successfully applied big data and AI
technology through-out the user journey from acquisition to
pre-underwriting. We are optimistic about our development prospects
and expect such initiatives will benefit our growth and efficiency
in the medium to long run." concluded Mr.Ye.
"We are happy to maintain our strong growth momentum in
the second quarter, despite the industry and regulatary
uncertainties," said Oscar Chen,
Chief Financial Officer of Jianpu. "Our revenues increased almost
92% year-over-year and 46% quarter-over-quarter, reflecting a
gradual recovery of our industry and exceeding our expectations.
Our credit card business continued to demonstrate a robust growth
trajectory in this quarter, delivering a 356% year-over-year
increase in revenue through healthy growth in both volume and
average fees. The strong financial performance gives us confidence
that we are executing the right business strategy."
Second Quarter 2018 Financial Results
Total revenues for the second quarter of 2018 increased
by 91.6% to RMB490.4 million
(US$74.1 million) from RMB256.0 million in the same period of 2017,
primarily due to increases in revenues from recommendation
services.
Total revenues from recommendation services increased by
86.2% to RMB441.0 million
(US$66.6 million) in the second
quarter of 2018 from RMB236.9 million
in the same period of 2017.
Revenues from recommendation services for loans increased
by 42.9% to RMB291.9 million
(US$44.1 million) in the second
quarter of 2018 from RMB204.2 million
in the same period of 2017, primarily due to the increase in the
number of loan applications on the Company's platform and increase
in the average fee per loan application. The number of loan
applications on the Company's platform was approximately 21.2
million in the second quarter of 2018, representing an increase of
approximately 11.0% from the same period of 2017. The average fee
per loan application increased to RMB13.78 (US$2.08)
in the second quarter of 2018 from RMB10.67 in the second quarter of 2017.
Revenues from recommendation services for credit cards
increased by 356% to RMB149.1 million
(US$22.5 million) in the second
quarter of 2018 from RMB32.7 million
in the second quarter of 2017, due to the increase in both credit
card volume and average fee per credit card. Credit card volume for
recommendation services in second quarter of 2018 was approximately
1.5 million, representing an increase of approximately 275% from
the same period of 2017. The average fee per credit card increased
to RMB99.47 (US$15.03) in the second quarter of 2018 from
RMB73.66 in the second quarter of
2017.
Revenues from advertising and marketing services and other
services increased by 159% to RMB49.4
million (US$7.5 million) in
the second quarter of 2018 from RMB19.1
million in the same period of 2017, 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 153% to RMB59.1 million (US$8.9
million) in the second quarter of 2018 from RMB23.4 million in the same period of 2017. The
increase was primarily attributable to the increases in traffic
acquisition costs of advertising and marketing services, short
message service fees, depreciation, online payment processing fees
and bandwidth and server hosting costs.
Gross profit increased by 85.3% to RMB431.2 million (US$65.2
million) in the second quarter of 2018 from RMB232.7 million in the same period of 2017. The
increase was primarily attributable to continuing growth in
revenue. Gross margin was 87.9% in the second quarter of 2018.
Sales and marketing expenses increased by 94.0% to
RMB421.0 million (US$63.6 million) in the second quarter of 2018
from RMB217.0 million in the same
period of 2017. The increase was mainly due to growth in marketing
and advertising expenses and payroll related costs.
Research and development expenses increased by 122% to
RMB52.5 million (US$7.9 million) in the second quarter of 2018
from RMB23.7 million in the same
period of 2017, primarily due to the increase in payroll costs and
share-based compensation mainly related to the hiring of new
R&D staff to further enhance our service delivery efficiency
and effectiveness.
General and administrative expenses increased by 397% to
RMB37.8 million (US$5.7 million) in the second quarter of 2018
from RMB7.6 million in the same
period of 2017. The increase was primarily due to recognition of
share-based compensation, including the impact of the options
granted prior to IPO with a performance target contingent upon IPO
and the options granted after the IPO, as well as increases in
payroll costs and professional fees for maintaining our listing
status.
Share-based compensation expenses recognized in cost of
revenues, sales and marketing expenses, research and development
expenses and general and administrative expenses in the second
quarter 2018 were RMB32.6 million
(US$4.9 million) in total.
Income tax benefits were RMB11.2
million (US$1.7 million) in
the second quarter of 2018, compared with income tax expenses of
RMB1.8 million in the same period of
2017. Contributed by the change of the cost and expenses structure,
the annualized tax rate for 2018 was decreased. In addition, the
Company's domestic subsidiaries completed their 2017 annual tax
fillings with relevant tax authority by the end of May 2018, which resulted in a change of tax
positions in the income tax provision and deferred tax assets
recognized as of December 31, 2017,
the effect of the change was RMB12.5
million recognized in the second quarter of 2018.
Net loss increased by 251% to RMB61.1 million (US$9.2
million) in the second quarter of 2018 from RMB17.4 million in the same period of 2017. Net
loss margin was -12.5% in the second quarter of 2018 compared with
-6.8% in the same period of 2017. The increase was primarily due to
the increase in share-based compensation expenses.
Non-GAAP adjusted net loss, which excluded share-based
compensation expenses from net loss, was RMB28.5 million (US$4.3
million) in the second quarter of 2018, compared with
RMB16.9 million in the same period of
2017. Non-GAAP adjusted net margin improved to -5.8% from -6.6% in
the same period of 2017.
Non-GAAP adjusted EBITDA, which excluded share-based
compensation expenses, depreciation and amortization, interest
income and expenses, and income tax expenses or benefits from net
loss, for the second quarter of 2018 was a loss of RMB36.3 million (US$5.5
million).
As of June 30, 2018, the Company
had cash and cash equivalents and short-term investment of
RMB1,339.1 million (US$202.4 million), and working capital of
approximately RMB1,435.6 million
(US$217.0 million). Compared to as of
March 31, 2018, cash and cash
equivalents and restricted time deposits decreased by RMB95.0 million (US$14.4
million), which was attributable to net cash used in
operating activities.
First Six Months 2018 Financial Results
Total revenues for the first six months of 2018 increased
by 110% to RMB826.0 million
(US$124.8 million) from RMB393.4 million for the same period of 2017,
primarily due to increases in revenues from recommendation
services.
Total revenues from recommendation services increased by
102% to RMB730.3 million
(US$110.4 million) in the first six
months of 2018 from RMB362.1 million
in the same period of 2017.
Revenues from recommendation services for loans increased
by 44.2% to RMB452.0 million
(US$68.3 million) in the first six
months of 2018 from RMB313.5 million
in the first six months of 2017, primarily due to the increase in
the number of loan applications on the Company's platform and
increase in the average fee per loan application. The number of
loan applications on the Company's platform was approximately 33.3
million in the first six months of 2018, representing an increase
of approximately 14.4% from the same period of 2017. The average
fee per loan application increased to RMB13.59 (US$2.05)
in the first six months of 2018 from RMB10.76 in the same period of 2017.
Revenues from recommendation services for credit cards
increased by 473% to RMB278.3 million
(US$42.1 million) in the first six
months of 2018 from RMB48.6 million
in the first six months of 2017, due to an increase in the credit
card volume and average fee per credit card. Credit card volume for
recommendation services in the first six months of 2018 was
approximately 2.8 million, representing an increase of
approximately 367% from the same period of 2017. The average fee
per credit card increased to RMB98.38
(US$14.87) in the first six months of
2018 from RMB74.82 in the first six
months of 2017.
Revenues from advertising and marketing services and other
services increased by 206% to RMB95.7
million (US$14.5 million) in
the first six months of 2018 from RMB31.3
million in the same period of 2017, primarily due to an
increase in revenues from big data and risk management solutions,
as well as an increase in the credit card volume for advertising
services.
Cost of revenues increased by 166% to RMB108.4 million (US$16.4
million) in the first six months of 2018 from RMB40.8 million in the same period of 2017. The
increase was primarily attributable to the increases in traffic
acquisition costs of advertising and marketing services, short
message service fees, online payment processing fees, depreciation,
and data acquisition costs.
Gross profit increased by 104% to RMB717.6 million (US$108.4
million) in the first six months of 2018 from RMB352.6 million in the same period of 2017. The
increase was primarily attributable to continuing growth in
revenue.
Sales and marketing expenses increased by 100% to
RMB680.0 million (US$102.8 million) in the first six months of 2018
from RMB340.0 million in the same
period of 2017. The increase was mainly due to growth in marketing
and advertising expenses and payroll related costs.
Research and development expenses increased by 114% to
RMB96.0 million (US$14.5 million) in the first six months of 2018
from RMB44.8 million in the same
period of 2017, primarily due to the increase in payroll costs and
share based-compensation mainly related to the hiring of new
R&D staff to further enhance our service delivery efficiency
and effectiveness.
General and administrative expenses increased by 589% to
RMB80.6 million (US$12.2 million) in the first six months of 2018
from RMB11.7 million in the same
period of 2017. The increase was primarily due to recognition
of share-based compensation, including the impact of the options
granted prior to IPO with a performance target contingent upon IPO
and the options granted after the IPO, as well as increases in
payroll costs and professional fees for maintaining our listing
status.
Share-based compensation expenses recognized in cost of
revenues, sales and marketing expenses, research and development
expenses and general and administrative expenses in the first six
months of 2018 were RMB69.9 million
(US$10.6 million) in total.
Income tax benefits were RMB11.2
million (US$1.7 million) in
the first six months of 2018, compared with the income tax expenses
of RMB5.1 million in the same period
of 2017. Contributed by the change of the cost and expenses
structure, the annualized tax rate for 2018 was decreased. In
addition, the Company's domestic subsidiaries completed their 2017
annual tax fillings with relevant tax authority by the end of
May 2018, which resulted in a change
of tax positions in the income tax provision and deferred tax
assets recognized as of December 31,
2017, the effect of the change was RMB12.5 million recognized in the second quarter
of 2018.
Net loss increased by 141% to RMB118.2 million (US$17.9
million) in the first six months of 2018 from RMB49.0 million in the same period of 2017. Net
loss margin was -14.3% in the first six months of 2018 compared
with -12.5% in the same period of 2017, the increase was primarily
due to the increase in share-based compensation expenses.
Non-GAAP adjusted net loss, which excluded share-based
compensation expenses from net loss, increased by 0.8% to
RMB48.3 million (US$7.3 million) in the first six months of 2018
from RMB47.9 million in the same
period of 2017. Non-GAAP adjusted net margin improved to -5.8% from
-12.2% in the same period of 2017.
Non-GAAP adjusted EBITDA, which excluded share-based
compensation expenses, depreciation and amortization, interest
income and expenses, and income tax expenses or benefits from net
loss, for the first six months of 2018 was a loss of RMB54.8 million (US$8.3
million), compared with a loss of RMB40.8 million in the same period of 2017.
Compared to as of December 31,
2017, cash and cash equivalents and restricted time deposits
decreased by RMB132.5 million
(US$20.0 million), which was
attributable to net cash used in operating activities.
Acquisition of Subsidiary
In June 2018, the Company completed the acquisition of 65%
of equity interests in a China-based technology company specializing in
optimizing data-driven risk management decisions. The acquired
company offers a suite of products and services helping financial
service providers to enhance their risk management capabilities.
The consideration of the transaction consists of cash, ordinary
shares of the Company and options to purchase the Company's
ordinary shares. The total consideration is approximately
RMB204 million, including cash
portion of approximately RMB110
million, ordinary shares and options of the Company
approximately RMB94 million.
Share Repurchase Program
The board of directors of the Company (the "Board") has approved
a share repurchase program whereby Jianpu is authorized to
repurchase its own Class A ordinary shares in the form of American
depositary shares ("ADS") with an aggregate value of up to
US$20 million during the next
twelve-month period.
"The share repurchase program reinforces management's confidence
in the Company's strategy, operating fundamentals and ability to
capture the long-term growth opportunities in the industry,"
commented Mr. David Ye, Chairman and
Chief Executive Officer of Jianpu. "We are committed to
creating more value for our shareholders in future."
The proposed share repurchase may be effected on the open market
at prevailing market prices, depending on a number of factors,
including, but not limited to, share price, trading volume and
general market conditions, along with the Company's working capital
requirements, general business conditions and other factors, as
well as subject to applicable rules and regulations, including
requirements of Rule 10b5-1 and/or Rule 10b-18 under the
Securities Exchange Act of 1934, as amended. The Company's board of
directors will review the share repurchase program periodically,
and may authorize adjustment of its terms and size. The Company
plans to fund the repurchases out of its existing cash balance or
future cash provided by operating activities.
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.
Third Quarter 2018
As a result of the liquidity and credit tightening across the
board, the Company observed a slowing of lending activities in the
past two months. However, in light of the recently issued new
regulatory policies promoting financial inclusion, consumer finance
and SME finance, combined with a more relaxed macroeconomic
policies since the end of July, the Company remains confident in
its outlook in the mid- to long-term. Based on the Company's
current estimates, total revenues for the third quarter of 2018 are
expected to be approximately RMB 415
million.
Conference Call
The Company's management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on
August 27, 2018 (8:00 PM Beijing/Hong Kong Time on August 27, 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 September 3, 2018, by dialing the following
telephone numbers:
|
United States (toll
free):
|
+1-877-344-7529
|
|
International:
|
+1-412-317-0088
|
|
Replay Access
Code:
|
10123127
|
About Jianpu Technology Inc.
Jianpu Technology Inc. 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 use 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
we include 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 its
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 "Unaudited 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 RMB6.6171 to US$1.00, the rate in effect as of June 29, 2018 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) 5730-6202
E-mail: jianpu@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: jianpu@tpg-ir.com
|
Jianpu Technology
Inc.
|
|
Unaudited
Condensed Consolidated Balance Sheets
|
|
|
As of December
31,
|
|
As of June
30,
|
|
(In thousands except
for number of shares and per share data)
|
2017
|
|
2018
|
|
2018
|
|
RMB
|
|
RMB
|
|
US$
|
|
ASSETS
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
1,543,811
|
|
1,296,142
|
|
195,878
|
|
Restricted time
deposits
|
-
|
|
115,129
|
|
17,399
|
|
Short-term
investment
|
-
|
|
42,914
|
|
6,485
|
|
Accounts receivable,
net (including amounts billed through
RONG360 of RMB141,190 and RMB209,378 as
of
December 31, 2017 and June 30, 2018,
respectively)
|
182,090
|
|
358,189
|
|
54,131
|
|
Prepayments and other
current assets
|
161,027
|
|
147,577
|
|
22,302
|
|
Total current
assets
|
1,886,928
|
|
1,959,951
|
|
296,195
|
|
Non-current
assets:
|
|
|
|
|
|
|
Property and
equipment, net
|
18,966
|
|
28,631
|
|
4,327
|
|
Intangible assets,
net
|
-
|
|
121,319
|
|
18,334
|
|
Goodwill
|
-
|
|
147,296
|
|
22,260
|
|
Other non-current
assets
|
7,621
|
|
13,999
|
|
2,115
|
|
Total non-current
assets
|
26,587
|
|
311,245
|
|
47,036
|
|
Total
assets
|
1,913,515
|
|
2,271,196
|
|
343,231
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Short-term
borrowings
|
-
|
|
100,000
|
|
15,112
|
|
Accounts
payable
|
177,373
|
|
167,613
|
|
25,330
|
|
Advances from
customers
|
71,538
|
|
93,254
|
|
14,093
|
|
Tax
payable
|
17,876
|
|
6,751
|
|
1,020
|
|
Amount due to related
party
|
35,427
|
|
77,212
|
|
11,669
|
|
Accrued expenses and
other current liabilities
|
72,839
|
|
79,495
|
|
12,014
|
|
Total current
liabilities
|
375,053
|
|
524,325
|
|
79,238
|
|
Non-current
liabilities:
|
|
|
|
|
|
|
Deferred tax
liabilities
|
-
|
|
18,198
|
|
2,750
|
|
Other non-current
liabilities
|
-
|
|
22,927
|
|
3,465
|
|
Total non-current
liabilities
|
-
|
|
41,125
|
|
6,215
|
|
Total
liabilities
|
375,053
|
|
565,450
|
|
85,453
|
|
Shareholders'
equity:
|
|
|
|
|
|
|
Ordinary shares
(US$0.0001 par value, 1,500,000,000
shares authorized, 68,750,000 and
74,522,447 Class A
ordinary shares, and 345,541,350 Class B
ordinary
shares issued and outstanding as of
December 31,
2017 and June 30, 2018,
respectively)
|
275
|
|
279
|
|
42
|
|
Additional paid in
capital
|
1,734,067
|
|
1,898,155
|
|
286,856
|
|
Accumulated
losses
|
(174,710)
|
|
(293,576)
|
|
(44,366)
|
|
Other comprehensive
loss
|
(21,170)
|
|
(10,267)
|
|
(1,552)
|
|
Total Jianpu's
shareholders' equity
|
1,538,462
|
|
1,594,591
|
|
240,980
|
|
Noncontrolling
interests
|
-
|
|
111,155
|
|
16,798
|
|
Total
shareholders' equity
|
1,538,462
|
|
1,705,746
|
|
257,778
|
|
Total liabilities
and shareholders' equity
|
1,913,515
|
|
2,271,196
|
|
343,231
|
|
Jianpu Technology
Inc.
|
|
Unaudited Interim
Condensed Consolidated Statements of Comprehensive
Loss
|
|
|
|
For the Three
Months Ended June 30,
|
|
For the Six Months
Ended June 30,
|
|
(In thousands except
for number of shares and
per share data)
|
|
2017
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2018
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recommendation
services:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans (including
revenues from related party
|
|
|
|
|
|
|
|
|
|
|
|
|
|
of RMB35,527 and RMB32,668
for the
|
|
|
|
|
|
|
|
|
|
|
|
|
|
three months ended June 30,
2017 and
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018, respectively.
RMB63,371 and
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RMB63,641 for the six months
ended June
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30, 2017 and 2018,
respectively.)
|
|
204,162
|
|
291,853
|
|
44,106
|
|
313,508
|
|
451,989
|
|
68,306
|
|
Credit
cards
|
|
32,737
|
|
149,117
|
|
22,535
|
|
48,553
|
|
278,291
|
|
42,056
|
|
Total recommendation
services
|
|
236,899
|
|
440,970
|
|
66,641
|
|
362,061
|
|
730,280
|
|
110,362
|
|
Advertising,
marketing and other services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(including revenues from
related party of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
nil and RMB4,128 for the
three months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ended June 30, 2017 and
2018, respectively.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nil and RMB6,330 for the six
months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ended June 30, 2017 and
2018,
|
|
|
|
|
|
|
|
|
|
|
|
|
|
respectively.)
|
|
19,140
|
|
49,380
|
|
7,462
|
|
31,327
|
|
95,744
|
|
14,469
|
|
Total
revenues
|
|
256,039
|
|
490,350
|
|
74,103
|
|
393,388
|
|
826,024
|
|
124,831
|
|
Cost of
revenues
|
|
(23,355)
|
|
(59,113)
|
|
(8,933)
|
|
(40,787)
|
|
(108,408)
|
|
(16,383)
|
|
Gross
profit
|
|
232,684
|
|
431,237
|
|
65,170
|
|
352,601
|
|
717,616
|
|
108,448
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and
marketing
|
|
(216,991)
|
|
(420,997)
|
|
(63,623)
|
|
(340,034)
|
|
(679,984)
|
|
(102,762)
|
|
Research and
development
|
|
(23,694)
|
|
(52,467)
|
|
(7,929)
|
|
(44,802)
|
|
(96,040)
|
|
(14,514)
|
|
General and
administrative
|
|
(7,629)
|
|
(37,753)
|
|
(5,705)
|
|
(11,652)
|
|
(80,575)
|
|
(12,177)
|
|
Loss from
operations
|
|
(15,630)
|
|
(79,980)
|
|
(12,087)
|
|
(43,887)
|
|
(138,983)
|
|
(21,005)
|
|
Net interest
income
|
|
-
|
|
1,268
|
|
192
|
|
-
|
|
2,666
|
|
403
|
|
Others,
net
|
|
(4)
|
|
6,383
|
|
965
|
|
(59)
|
|
6,924
|
|
1,046
|
|
Loss before income
tax
|
|
(15,634)
|
|
(72,329)
|
|
(10,930)
|
|
(43,946)
|
|
(129,393)
|
|
(19,556)
|
|
Income tax
(expenses)/benefits
|
|
(1,813)
|
|
11,243
|
|
1,699
|
|
(5,097)
|
|
11,243
|
|
1,699
|
|
Net
loss
|
|
(17,447)
|
|
(61,086)
|
|
(9,231)
|
|
(49,043)
|
|
(118,150)
|
|
(17,857)
|
|
Net income
attributable to noncontrolling
|
|
|
|
|
|
|
|
|
|
|
|
|
|
interests
|
|
-
|
|
716
|
|
108
|
|
-
|
|
716
|
|
108
|
|
Net loss
attributable to Jianpu's shareholders
|
|
(17,447)
|
|
(61,802)
|
|
(9,339)
|
|
(49,043)
|
|
(118,866)
|
|
(17,965)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
comprehensive income, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
|
-
|
|
67,068
|
|
10,136
|
|
-
|
|
11,242
|
|
1,699
|
|
Total other
comprehensive income
|
|
-
|
|
67,068
|
|
10,136
|
|
-
|
|
11,242
|
|
1,699
|
|
Total
comprehensive (loss)/income
|
|
(17,447)
|
|
5,982
|
|
905
|
|
(49,043)
|
|
(106,908)
|
|
(16,158)
|
|
Total comprehensive
income attributable to
noncontrolling interests
|
|
-
|
|
1,056
|
|
160
|
|
-
|
|
1,056
|
|
160
|
|
Total
comprehensive (loss)/income
attributable to Jianpu's
shareholders
|
|
(17,447)
|
|
4,926
|
|
745
|
|
(49,043)
|
|
(107,964)
|
|
(16,318)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share
attributable to Jianpu's
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
|
(0.05)
|
|
(0.15)
|
|
(0.02)
|
|
(0.14)
|
|
(0.29)
|
|
(0.04)
|
|
Net loss per ADS
attributable to Jianpu's
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
|
(0.13)
|
|
(0.38)
|
|
(0.05)
|
|
(0.35)
|
|
(0.73)
|
|
(0.10)
|
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
|
345,541,350
|
|
417,082,423
|
|
417,082,423
|
|
345,541,350
|
|
415,694,597
|
|
415,694,597
|
|
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 June 30,
|
|
For the Six Months
Ended June 30,
|
|
2017
|
|
2018
|
|
2018
|
|
2017
|
|
2018
|
|
2018
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss
|
|
(17,447)
|
|
(61,086)
|
|
(9,231)
|
|
(49,043)
|
|
(118,150)
|
|
(17,857)
|
|
Add: Share-based
compensation expenses
|
|
536
|
|
32,577
|
|
4,923
|
|
1,192
|
|
69,858
|
|
10,557
|
|
Non-GAAP adjusted net
loss
|
|
(16,911)
|
|
(28,509)
|
|
(4,308)
|
|
(47,851)
|
|
(48,292)
|
|
(7,300)
|
|
Add: Depreciation and
amortization
|
|
976
|
|
4,767
|
|
720
|
|
1,965
|
|
7,390
|
|
1,117
|
|
Net interest
income
|
|
-
|
|
(1,268)
|
|
(192)
|
|
-
|
|
(2,666)
|
|
(403)
|
|
Income tax
expenses/(benefits)
|
|
1,813
|
|
(11,243)
|
|
(1,699)
|
|
5,097
|
|
(11,243)
|
|
(1,699)
|
|
Non-GAAP adjusted
EBITDA[2]
|
|
(14,122)
|
|
(36,253)
|
|
(5,479)
|
|
(40,789)
|
|
(54,811)
|
|
(8,285)
|
|
|
[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.
|
View original
content:http://www.prnewswire.com/news-releases/jianpu-technology-inc-reports-second-quarter-2018-unaudited-financial-results-300702544.html
SOURCE Jianpu Technology Inc.