Dada Group (NASDAQ: DADA, “Dada” or the “Company”), China’s leading
local on-demand delivery and retail platform, today announced its
unaudited financial results for the second quarter ended June 30,
2020.
Second Quarter 2020
Highlights
- Total net revenues were RMB1,323.0 million
(US$187.3 million), an increase of 93.1% year over year.
- Number of orders delivered through Dada Now
for the twelve months ended June 30, 2020 was 925.6 million, as
compared with 561.6 million in the same period ended June 30,
2019.
- Total Gross Merchandise Volume (“GMV”) of JDDJ
for the twelve months ended June 30, 2020 was RMB18.3 billion
(US$2.6 billion), an increase of 98.1% year over year from RMB9.2
billion in the same period ended June 30, 2019.
- Number of active consumers on
JDDJ for the twelve months ended June 30, 2020 was 32.3
million, as compared with 18.8 million in the same period ended
June 30, 2019.
“We are very proud to report robust financial
and operational growth for the second quarter of 2020, in our first
earnings announcement as a public company," commented Mr. Philip
Kuai, Chairman and Chief Executive Officer of Dada Group. “Our
listing on the NASDAQ in June was an important milestone for our
commitment to bringing people everything on demand. Underpinned by
our strengthened cooperation with leading retailers and brand
owners, as well as our local on-demand delivery infrastructure, we
continue to capture consumer mindshare, particularly within China’s
lower-tier cities. We are excited about executing our growth
strategies and generating sustainable long-term value for our
shareholders as we navigate a new era in China’s retail industry.”
“We are pleased to see solid revenue growth and
improved margin in the second quarter,” said Beck Chen, Chief
Financial Officer of Dada Group. “Our economies of scale and
innovative technologies are driving operating efficiency and
further strengthening our capacity to bring more value to our
customers and business partners. Looking ahead, we will continue to
invest in technology that enhances customer experience and drives
greater operating efficiency for our partners as we grow our
business and create value for all of our stakeholders. We are
particularly excited about the organic and strong growth momentum
of our JDDJ platform and we aim to grow JDDJ revenue by 100% year
over year in the second half of 2020. Meanwhile we will continue to
closely co-operate with JD Retail to further explore omni-channel
new initiatives.”
Second Quarter 2020 Financial
Results
Total net revenues were
RMB1,323.0 million (US$187.3 million), an increase of 93.1% from
RMB685.2 million in the same quarter of 2019.
|
Three months ended June 30, |
|
2019 |
|
2020 |
|
RMB |
|
RMB |
|
US$ |
|
(in thousands) |
Net Revenue |
|
|
|
|
|
|
|
|
|
|
|
Dada Now |
|
|
|
|
|
Services |
427,970 |
|
823,586 |
|
116,571 |
Sales of goods |
11,652 |
|
13,590 |
|
1,924 |
Subtotal |
439,622 |
|
837,176 |
|
118,495 |
|
|
|
|
|
|
JDDJ |
|
|
|
|
|
Services (1) |
245,537 |
|
485,873 |
|
68,771 |
|
|
|
|
|
|
Total |
685,159 |
|
1,323,049 |
|
187,266 |
Note: (1) Includes net revenues from fulfillment services
provided to retailers on JDDJ of RMB135,415 and RMB181,741, and
commission fee revenues from retailers on JDDJ of RMB78,334 and
RMB147,556 for the three months ended June 30, 2019 and 2020,
respectively.
The net revenues generated from Dada Now
increased by 90.4% from RMB439.6 million in the second quarter of
2019 to RMB837.2 million (US$118.5 million) in the same quarter of
2020, mainly driven by the increases in order volume of last-mile
delivery service to logistics companies and intra-city delivery
service to chain merchants.
The net revenues generated from JDDJ increased
by 97.9% from RMB245.5 million in the second quarter of 2019 to
RMB485.9 million (US$68.8 million) in the same quarter of 2020,
mainly due to the growth of GMV by 96.0% as compared to that of the
same quarter last year contributed by the increases in average
order size and number of active consumers. The increase in online
marketing services revenue as a result of the increasing
promotional activities launched by brand owners also constituted to
an increment of the net revenues generated form JDDJ.
Total costs and expenses were
RMB1,798.8 million (US$254.6 million), compared with RMB1,088.5
million in the same quarter of 2019.
- Operations and support costs
were RMB1,100.1 million (US$155.7 million), compared with RMB615.6
million in the same quarter of 2019, which was primarily due to an
increase in rider cost as a result of increasing volume of orders
for our last-mile and intra-city delivery services provided to
logistics companies, various chain merchants on Dada Now platform
and retailers on JDDJ platform.
- Selling and marketing expenses were RMB386.2
million (US$54.7 million), compared with RMB309.6 million in the
same quarter of 2019. The increase was primarily due to (i) an
increase in personnel cost in connection with our growing business
and the immediate recognition of share-based compensation expense
resulting from options granted to employees with an IPO performance
condition, and (ii) an increase in advertising and marketing
expenses, which was primarily attributable to the increase in
referral fees we paid to the staff at retailer stores for their
efforts to attract new consumers to JDDJ platform.
- General and administrative expenses were
RMB164.9 million (US$23.3 million), compared with RMB73.1 million
in the same quarter of 2019. The increase was primarily due to the
immediate recognition of share-based compensation expense resulting
from options granted to employees with an IPO performance
condition.
- Research and development expenses were
RMB128.6 million (US$18.2 million), compared with RMB77.2 million
in the same quarter of 2019. The increase was mainly attributable
to the increase in research and development personnel cost as we
continue to strengthen our technological capabilities. And the
immediate recognition of share-based compensation expense resulting
from options granted to employees with an IPO performance condition
also contributed to the increase in personnel cost.
- Other operating expenses were RMB19.1 million
(US$2.7 million), compared with RMB13.0 million in the same quarter
of 2019. The increase mainly resulted from the increase in
tax surcharges and accrued compensation cost incurred.
Other operating income was
RMB3.9 million (US$0.6 million), compared with RMB63.2 million in
the same quarter of 2019. The decrease was primarily due to the
fact that a government subsidy of the same nature that was received
in the second quarter of 2019, was received in the first quarter of
2020 instead of the second quarter this year.
Loss from operations was
RMB471.9 million (US$66.8 million), compared with RMB340.2 million
in the same quarter of 2019. Operating margin was -35.7%, compared
with -49.6% in the same quarter of 2019. Loss from operations
includes one-off share-based compensation expenses of RMB 126.6
million (US$17.9 million) due to the immediate recognition resulted
from options granted to employees with an IPO performance
condition.
Non-GAAP Loss from operations1
was RMB244.0 million (US$34.5 million), compared with RMB276.3
million in the same quarter of 2019. Non-GAAP operating margin was
-18.4%, compared with -40.3% in the same quarter of 2019.
Net loss was RMB457.5 million
(US$64.8 million), as compared with RMB316.0 million in the same
period of 2019.
Non-GAAP net loss2 was RMB230.9
million (US$32.7 million), as compared with RMB254.4 million in the
same period of 2019.
Net loss attributable
to ordinary shareholders of Dada Group was RMB617.0
million (US$87.3 million), as compared with RMB513.0 million in the
same quarter of 2019.
Non-GAAP net loss
attributable to ordinary shareholders of Dada
Group3 was RMB390.4 million (US$55.3 million), as compared
with RMB451.4 million in the same quarter of 2019.
Basic and diluted net loss per
share for the second quarter of 2020 was RMB1.26
(US$0.18), compared to RMB1.42 for the second quarter of 2019.
Non-GAAP basic and diluted net loss per
share4 for the second quarter of 2020 was RMB0.80
(US$0.11), compared to RMB1.25 for the second quarter of 2019.
As of June 30, 2020, the Company had RMB4,359.1
million (US$617.0 million) in cash, cash equivalents,
restricted cash and short-term investments, an increase
from RMB2,113.5 million as of December 31, 2019.
Business Outlook
For the third quarter of 2020, Dada expects
total revenue to be between RMB1,280 million and RMB1,340 million,
representing year-over-year growth of approximately 82% to 91%.
This outlook is based on information available as of the date of
this press release and reflects the Company's current and
preliminary expectations, which are subject to change in light of
various uncertainties, including those related to the ongoing
COVID-19 pandemic.
Conference Call
The Company will host a conference call to
discuss the earnings at 9:00 p.m. Eastern Time on Monday, August
24, 2020 (9:00 a.m. Beijing time on Tuesday, August 25, 2020).
Please register in advance of the conference
using the link provided below and dial in 10 minutes prior to the
call, using participant dial-in numbers, Direct Event passcode and
unique registrant ID which would be provided upon registering. You
will be automatically linked to the live call after completion of
this process, unless required to provide the conference ID below
due to regional restrictions.
PRE-REGISTER LINK:
http://apac.directeventreg.com/registration/event/4555479
CONFERENCE ID: 4555479
A telephone replay of the call will be available
after the conclusion of the conference call through 09:59 a.m.
Eastern Time, September 1, 2020.
Dial-in numbers for the replay are as
follows:
International Dial-in |
+61-2-8199-0299 |
U.S. Toll Free |
1-855-452-5696 |
Mainland China |
8008-700-206 |
Hong Kong |
800-963-117 |
Passcode: |
4555479# |
A live and archived webcast of the conference
call will be available on the Investor Relations section of Dada’s
website at https://ir.imdada.cn/.
Use of Non-GAAP Financial Measures
The Company also uses certain non-GAAP financial
measures in evaluating its business. For example, the Company uses
non-GAAP income/(loss) from operations, non-GAAP operating margin,
non-GAAP net income/(loss), non-GAAP net margin, non-GAAP net
income/(loss) attributable to ordinary shareholders of Dada Group
and non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada Group per share as supplemental measures to
review and assess its financial and operating performance. The
presentation of these non-GAAP financial measures is not intended
to be considered in isolation, or as a substitute for the financial
information prepared and presented in accordance with U.S. GAAP.
Non-GAAP income/(loss) from operations is income/(loss) from
operations excluding the impact of share-based compensation
expenses and amortization of intangible assets resulting from
business acquisition. Non-GAAP operating margin is non-GAAP
income/(loss) from operations as a percentage of total net
revenues. Non-GAAP net income/(loss) is net income/(loss) excluding
the impact of share-based compensation expenses, amortization of
intangible assets resulting from business acquisition and tax
benefit from amortization of such intangible assets. Non-GAAP net
margin is non-GAAP net income/(loss) as a percentage of total net
revenues. Non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada Group is net income/(loss) attributable to
ordinary shareholders of Dada Group excluding the impact of
share-based compensation expenses, amortization of intangible
assets resulting from business acquisition and tax benefit from
amortization of such intangible assets. Non-GAAP net income/(loss)
attributable to ordinary shareholders of Dada Group per share is
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada Group divided by weighted average number of shares used in
calculating net income/(loss) per share.
The Company presents the non-GAAP financial
measures because they are used by the Company’s management to
evaluate the Company’s financial and operating performance and
formulate business plans. Non-GAAP income/(loss) from operations
and non-GAAP net income/(loss) enable the Company’s management to
assess the Company’s financial and operating results without
considering the impact of share-based compensation expenses,
amortization of intangible assets resulting from business
acquisition and tax benefit from amortization of such intangible
assets. The Company also believes that the use of the non-GAAP
measures facilitates investors’ assessment of the Company’s
financial and operating performance.
The non-GAAP financial measures are not defined
under U.S. GAAP and are not presented in accordance with U.S. GAAP.
The non-GAAP financial measures have limitations as analytical
tools. One of the key limitations of using non-GAAP income/(loss)
from operations, non-GAAP net income/(loss), non-GAAP net
income/(loss) attributable to ordinary shareholders of Dada Group,
and non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada Group per share is that they do not reflect
all items of income and expense that affect the Company’s
operations. Share-based compensation expenses, amortization of
intangible assets resulting from business acquisition and tax
benefit from amortization of such intangible assets have been and
may continue to be incurred in the Company’s business and is not
reflected in the presentation of non-GAAP income/(loss) from
operations, non-GAAP net income/(loss), non-GAAP net income/(loss)
attributable to ordinary shareholders of Dada Group, and non-GAAP
net income/(loss) attributable to ordinary shareholders of Dada
Group per share. Further, the non-GAAP measures may differ from the
non-GAAP measures used by other companies, including peer
companies, potentially limiting the comparability of their
financial results to the Company’s. In light of the foregoing
limitations, the non-GAAP income/(loss) from operations, non-GAAP
operating margin, non-GAAP net income/(loss), non-GAAP net margin,
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada Group and non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada Group per share for the period should not be
considered in isolation from or as an alternative to income/(loss)
from operations, operating margin, net income/(loss), net margin,
net income/(loss) attributable to ordinary shareholders of Dada
Group and net income/(loss) attributable to ordinary shareholders
of Dada Group per share, or other financial measures prepared in
accordance with U.S. GAAP.
The Company compensates for these limitations by
reconciling the non-GAAP financial measures to the nearest U.S.
GAAP performance measures, which should be considered when
evaluating the Company’s performance. For reconciliations of these
non-GAAP financial measures to the most directly comparable GAAP
financial measures, please see the section of the accompanying
tables titled, “Reconciliations of GAAP and Non-GAAP Results.”
Exchange Rate Information
Statement
This announcement contains translations of
certain RMB amounts into U.S. dollars at specified rates solely for
the convenience of the reader. Unless otherwise noted, all
translations from RMB to U.S. dollars are made at a rate of
RMB7.0651 to US$1.00, the exchange rate set forth in the H.10
statistical release of the Board of Governors of the Federal
Reserve System as of June 30, 2020.
Forward-Looking Statements
This press release contains statements that may
constitute “forward-looking” statements pursuant to 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,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to”
and similar statements. Among other things, quotations in this
announcement, contain forward-looking statements. Dada may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the “SEC”),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about Dada’s beliefs, plans
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: Dada’s strategies; Dada’s future business
development, financial condition and results of operations; Dada’s
ability to maintain its relationship with major strategic
investors; its ability to provide efficient on-demand delivery
services and offer quality on-demand retail experience; its ability
to maintain and enhance the recognition and reputation of its
brands; general economic and business conditions globally and in
China and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in Dada’s filings with the SEC. All information provided
in this press release is as of the date of this press release, and
Dada does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
About Dada Group
Dada Group is a leading platform of local
on-demand retail and delivery in China. It operates JDDJ, one of
China’s largest local on-demand retail platforms for retailers and
brand owners, and Dada Now, a leading local on-demand delivery
platform open to merchants and individual senders across various
industries and product categories. The Company’s two platforms are
inter-connected and mutually beneficial. The Dada Now platform
enables improved delivery experience for participants on the JDDJ
platform through its readily accessible fulfillment solutions and
strong on-demand delivery infrastructure. Meanwhile, the vast
volume of on-demand delivery orders from the JDDJ platform
increases order volume and density for the Dada Now platform.
For more information, please visit https://ir.imdada.cn/.
For investor inquiries, please contact:
Dada Nexus LimitedMs. Caroline DongE-mail: ir@imdada.cn
Christensen
In ChinaMr. Rene VanguestainePhone: +86-178-1749 0483E-mail:
rvanguestaine@christensenir.com
In USMs. Linda BergkampPhone: +1-480-614-3004E-mail:
lbergkamp@christensenir.com
For media inquiries, please
contact:
Dada Nexus Limited E-mail: PR@imdada.cn
Appendix I
DADA NEXUS LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS (Amounts in thousands, except share data
and otherwise noted)
|
As of December 31, |
|
As of June 30, |
|
2019 |
|
2020 |
|
RMB |
|
RMB |
|
US$ |
ASSETS |
|
|
|
|
|
Current
assets |
|
|
|
|
|
Cash and cash equivalents |
1,154,653 |
|
3,695,899 |
|
523,121 |
Restricted cash |
1,480 |
|
47,373 |
|
6,705 |
Short-term investments |
957,370 |
|
615,820 |
|
87,164 |
Accounts
receivable |
38,234 |
|
71,463 |
|
10,115 |
Inventories, net |
3,886 |
|
5,162 |
|
730 |
Amount due from related parties |
308,682 |
|
544,990 |
|
77,138 |
Prepayments and other current assets |
100,354 |
|
88,165 |
|
12,479 |
|
|
|
|
|
|
Total current
assets |
2,564,659 |
|
5,068,872 |
|
717,452 |
|
|
|
|
|
|
Property and equipment, net |
42,044 |
|
43,813 |
|
6,201 |
Goodwill |
957,605 |
|
957,605 |
|
135,540 |
Intangible assets, net |
715,877 |
|
628,891 |
|
89,014 |
Operating lease right-of-use assets |
— |
|
104,999 |
|
14,862 |
Other non-current assets |
5,930 |
|
11,369 |
|
1,609 |
|
|
|
|
|
|
Total non-current
assets |
1,721,456 |
|
1,746,677 |
|
247,226 |
|
|
|
|
|
|
TOTAL
ASSETS |
4,286,115 |
|
6,815,549 |
|
964,678 |
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS’ DEFICIT |
|
|
|
|
|
Current liabilities |
|
|
|
|
|
Short-term loan |
— |
|
350,000 |
|
49,539 |
Accounts payable |
9,924 |
|
11,479 |
|
1,625 |
Payable to riders |
381,341 |
|
566,242 |
|
80,146 |
Amount due to related parties |
82,800 |
|
37,621 |
|
5,325 |
Accrued expenses and other current liabilities |
366,285 |
|
439,052 |
|
62,144 |
Operating lease liabilities |
— |
|
41,196 |
|
5,831 |
|
|
|
|
|
|
Total current
liabilities |
840,350 |
|
1,445,590 |
|
204,610 |
|
|
|
|
|
|
Deferred tax liabilities |
43,701 |
|
41,066 |
|
5,813 |
Non-current operating lease liabilities |
— |
|
68,758 |
|
9,732 |
|
|
|
|
|
|
Total non-current
liabilities |
43,701 |
|
109,824 |
|
15,545 |
|
|
|
|
|
|
TOTAL
LIABILITIES |
884,051 |
|
1,555,414 |
|
220,155 |
DADA NEXUS LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS (CONTINUED)(Amounts in thousands, except
share data and otherwise noted)
|
As of December 31, |
|
As of June 30, |
|
2019 |
|
2020 |
|
RMB |
|
RMB |
|
US$ |
TOTAL MEZZANINE
EQUITY |
10,593,026 |
|
|
— |
|
|
— |
|
|
|
|
|
SHAREHOLDERS’
DEFICIT |
|
|
|
Ordinary shares (US$0.0001 par value, 1,499,945,349 shares
authorized, 369,290,629 and 898,428,565 shares issued and
outstanding as of December 31, 2019 and June 30, 2020,
respectively) |
237 |
|
|
611 |
|
|
86 |
|
Additional paid-in capital |
309,102 |
|
|
13,481,526 |
|
|
1,908,186 |
|
Subscription receivable |
(35 |
) |
|
(35 |
) |
|
(5 |
) |
Accumulated deficit |
(7,639,926 |
) |
|
(8,376,705 |
) |
|
(1,185,646 |
) |
Accumulated other comprehensive income |
139,660 |
|
|
154,738 |
|
|
21,902 |
|
|
|
|
|
TOTAL SHAREHOLDERS’
DEFICIT |
(7,190,962 |
) |
|
5,260,135 |
|
|
744,523 |
|
|
|
|
|
TOTAL LIABILITIES,
MAZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT |
4,286,115 |
|
|
6,815,549 |
|
|
964,678 |
|
|
|
|
|
DADA NEXUS LIMITED
UNAUDITED CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE
LOSS (Amounts in thousands, except share and per
share data and otherwise noted)
|
Three months ended June 30,
|
|
2019 |
|
2020 |
|
RMB |
|
RMB |
|
US$ |
Net Revenues (including related-party revenues of
RMB444,053 and RMB762,353 for the three months ended June 30,
2019 and 2020, respectively) |
685,159 |
|
|
1,323,049 |
|
|
187,265 |
|
Costs and
expenses |
|
|
|
Operations and support |
(615,632 |
) |
|
(1,100,131 |
) |
|
(155,713 |
) |
Selling and marketing |
(309,575 |
) |
|
(386,191 |
) |
|
(54,662 |
) |
General and administrative |
(73,136 |
) |
|
(164,861 |
) |
|
(23,335 |
) |
Research and development |
(77,240 |
) |
|
(128,601 |
) |
|
(18,202 |
) |
Other operating expenses |
(12,966 |
) |
|
(19,066 |
) |
|
(2,699 |
) |
|
|
|
|
Total costs and
expenses |
(1,088,549 |
) |
|
(1,798,850 |
) |
|
(254,611 |
) |
|
|
|
|
Other operating income |
63,225 |
|
|
3,890 |
|
|
551 |
|
|
|
|
|
Loss from
operations |
(340,165 |
) |
|
(471,911 |
) |
|
(66,795 |
) |
|
|
|
|
Other
income/(expenses) |
|
|
|
Interest income |
21,874 |
|
|
15,286 |
|
|
2,164 |
|
Interest expenses |
— |
|
|
(2,114 |
) |
|
(299 |
) |
Foreign exchange loss |
12 |
|
|
— |
|
|
— |
|
|
|
|
|
Total other
income |
21,886 |
|
|
13,172 |
|
|
1,865 |
|
|
|
|
|
Loss before income tax
benefits |
(318,279 |
) |
|
(458,739 |
) |
|
(64,930 |
) |
|
|
|
|
Income tax benefits |
2,258 |
|
|
1,253 |
|
|
177 |
|
|
|
|
|
Net loss |
(316,021 |
) |
|
(457,486 |
) |
|
(64,753 |
) |
|
|
|
|
Accretion of convertible redeemable preferred shares |
(196,939 |
) |
|
(159,542 |
) |
|
(22,582 |
) |
|
|
|
|
Net loss attributable to
ordinary shareholders of Dada Group |
(512,960 |
) |
|
(617,028 |
) |
|
(87,335 |
) |
|
|
|
|
Net loss per
share |
|
|
|
Basic |
(1.42 |
) |
|
(1.26 |
) |
|
(0.18 |
) |
Diluted |
(1.42 |
) |
|
(1.26 |
) |
|
(0.18 |
) |
|
|
|
|
Weighted average shares
used in calculating net loss per share |
|
|
|
Basic |
362,197,963 |
|
|
489,313,329 |
|
|
489,313,329 |
|
Diluted |
362,197,963 |
|
|
489,313,329 |
|
|
489,313,329 |
|
|
|
|
|
Net Loss |
(316,021 |
) |
|
(457,486 |
) |
|
(64,753 |
) |
Other comprehensive
income/(loss) |
|
|
|
Foreign currency translation adjustments |
27,381 |
|
|
868 |
|
|
123 |
|
|
|
|
|
Total comprehensive
loss |
(288,640 |
) |
|
(456,618 |
) |
|
(64,630 |
) |
|
|
|
|
Reconciliations of GAAP and Non-GAAP
Results
(Amounts in thousands, except share
and per share data and otherwise noted)
|
Three months ended June 30,
|
|
2019 |
|
2020 |
|
RMB |
|
RMB |
|
US$ |
|
|
Loss from operations |
(340,165 |
) |
|
(471,911 |
) |
|
(66,795 |
) |
|
|
|
|
Add: |
|
|
|
Share-based compensation expense |
12,298 |
|
|
181,504 |
|
|
25,690 |
|
Intangible assets amortization |
51,533 |
|
|
46,365 |
|
|
6,563 |
|
|
|
|
|
Non-GAAP loss from
operations |
(276,334 |
) |
|
(244,042 |
) |
|
(34,542 |
) |
|
|
|
|
Net loss |
(316,021 |
) |
|
(457,486 |
) |
|
(64,753 |
) |
|
|
|
|
Add: |
|
Share-based compensation expense |
12,298 |
|
|
181,504 |
|
|
25,690 |
|
Intangible assets amortization |
51,533 |
|
|
46,365 |
|
|
6,563 |
|
Income tax benefit |
(2,258 |
) |
|
(1,253 |
) |
|
(177 |
) |
|
|
|
|
Non-GAAP net
loss |
(254,448 |
) |
|
(230,870 |
) |
|
(32,677 |
) |
|
|
|
|
Accretion of convertible redeemable preferred shares |
(196,939 |
) |
|
(159,542 |
) |
|
(22,582 |
) |
|
|
|
|
Non-GAAP net loss
attributable to ordinary shareholders of Dada Group |
(451,387 |
) |
|
(390,412 |
) |
|
(55,259 |
) |
|
|
|
|
Non-GAAP net loss per share |
|
|
|
Basic |
(1.25 |
) |
|
(0.80 |
) |
|
(0.11 |
) |
Diluted |
(1.25 |
) |
|
(0.80 |
) |
|
(0.11 |
) |
|
|
|
|
Weighted average shares
used in calculating net loss per share |
|
|
|
Basic |
362,197,963 |
|
|
489,313,329 |
|
|
489,313,329 |
|
Diluted |
362,197,963 |
|
|
489,313,329 |
|
|
489,313,329 |
|
|
|
|
|
1 Non-GAAP loss from operations represents loss from operations
excluding the impact of share-based compensation expenses and
amortization of intangible assets resulting from business
acquisition.
2 Non-GAAP net loss represents net loss excluding the impact of
share-based compensation expenses, amortization of intangible
assets resulting from business acquisitions and tax benefit from
amortization of such intangible assets.
3 Non-GAAP net loss attributable to ordinary
shareholders of Dada Group is net loss attributable to ordinary
shareholders of Dada Group excluding the impact of share-based
compensation expenses, amortization of intangible assets resulting
from business acquisition and tax benefit from amortization of such
intangible assets.
4 Non-GAAP net loss per share is non-GAAP net loss attributable
to ordinary shareholders of Dada Group divided by weighted average
number of shares used in calculating net loss per share.
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