Fourth Quarter Revenues
of RMB249.9 million, up
8.4% year-over-year
Full Year Revenues of RMB1,186.4 million, up 17.4 %
year-over-year
SHANGHAI, June 6, 2022
/PRNewswire/ -- Boqii Holding Limited ("Boqii" or the
"Company") (NYSE: BQ), a leading pet-focused platform in
China, today announced its
unaudited financial results for the fourth quarter and fiscal year
ended March 31, 2022.
Fiscal Q4 2022 Operational and Financial Highlights
- Total revenues were RMB249.9
million (US$39.4 million),
representing an increase of 8.4% from RMB230.4 million in the same quarter of fiscal
year 2021.
- Net loss was RMB22.2million (US$3.5
million), representing a decrease of 46.7% from net loss of
RMB41.5 million in the same quarter
of fiscal year 2021.
- Adjusted net loss was RMB23.5 million (US$3.7
million), representing a decrease of 39.7% from adjusted net
loss of RMB38.9 million in the same
quarter of fiscal year 2021.
- EBITDA[1] was a loss of
RMB18.7 million (US$2.9 million), representing a decrease of 51.9%
from loss of RMB38.8 million in the
same quarter of fiscal year 2021.
- Total GMV[2] was
RMB606.0 million (US$95.59 million), representing an increase of
9.4% from RMB553.7 million in the
same quarter of fiscal year 2021.
- Active buyers were 1.5 million, representing an increase
of 14.8% from 1.3 million in the same quarter of fiscal year
2021.
Fiscal Year 2022 Operational and Financial Highlights
- Total revenues were RMB1,186.4
million (US$187.2 million),
representing an increase of 17.4% from RMB1,011.0 million in the fiscal year 2021.
- Net loss was RMB132.8
million (US$21.0 million),
representing a decrease of 31.3% from net loss of RMB193.2 million in the fiscal year 2021.
- Adjusted net loss was RMB121.2 million (US$19.1
million), representing a decrease of 18.9% from adjusted net
loss of RMB149.6 million in the
fiscal year 2021.
- EBITDA was a loss of RMB121.3
million (US$19.1 million),
representing a decrease of 31.4% from loss of RMB176.9 million in the fiscal year 2021.
- Total GMV was RMB2,907.2
million (US$458.6 million),
representing an increase of 19.4% from RMB2,435.2 million in the fiscal year 2021.
- Active buyers were 5.0 million, representing an increase
of 30.4% from 3.8 million in the fiscal year 2021.
[1]EBITDA refers to net loss
excluding income tax expenses, interest expense, interest income,
depreciation and amortization expenses. EBITDA is a Non-GAAP
financial measurement. Please refer to "Non-GAAP financial
measurement".
|
[2]GMV refers to gross merchandise
volume, which is the total value of confirmed orders placed with us
and sold through distribution model or drop shipping model where we
act as a principal in the transaction regardless of whether the
products are delivered or returned, calculated based on the listed
prices of the ordered products without taking into consideration
any discounts. The total GMV amount (i) includes GMV of products
sold by Xingmu, (ii) excludes products sold through consignment
model and (iii) excludes the value of services offered by us. GMV
is subject to future adjustments (such as refunds) and represents
only one measure of the Company's performance and should not be
relied on as an indicator of our financial results, which depend on
a variety of factors.
|
CEO & CFO Quote
" Despite challenges brought by Covid-19 and various
unprecedented changes in Fiscal 2022, we still delivered strong
results that shows steady growth in all four quarters. Our Full
year GMV grew 19.4% to RMB2.9
billion, and active buyers up by 30.4% to 5.0 million." Mr.
Hao Liang, Boqii's Founder, Chairman and Chief Executive Officer
commented, "Under the continuing influence of Covid-19 and the
dynamic pandemic control policy, we strengthened our supply-chain
and helped procure necessary supplies to our community across 12
districts in Shanghai within a
short period of time. And we continued to expand our portfolio of
quality content, products, and services to acquire competitive
advantages in the complex economic environment. "
Ms. Yingzhi (Lisa) Tang, Boqii's
Co-Founder, Co-CEO and CFO commented: "We had a solid fiscal year
with a 17.4% year over year revenue growth and a 30.4% increase in
active buyers. For the full year of 2022 was a year of setting new
record, with revenue reaching nearly RMB1.2
billion and gross profit margin reaching 20.5%. These
excellent results were driven by our 5.0 million spending
customers. We expect to see the trend continue long into the future
as we expand our portfolio offerings, strengthen our supply-chain
and establish more key Boqii experience touchpoints. We believe the
continuous growth momentun from active buyers and gross profit
margin will allow us to capture more opportunities in the
challenging pet market."
Fiscal Q4 2022 Financial Results
Total revenues were RMB249.9
million (US$39.4 million), representing an increase
of 8.4% from RMB230.4 million in the
same quarter of fiscal year 2021. The increase was primarily due to
the continued organic growth of our business.
Revenues
(in million)
|
|
Three Months Ended
March 31
|
|
%
|
|
2022
|
|
2021
|
|
change
|
|
RMB
|
|
RMB
|
|
YoY
|
Product
sales
|
|
242.3
|
|
225.0
|
|
7.7%
|
- Boqii Mall
|
|
96.5
|
|
87.4
|
|
10.4%
|
- Third party e-commerce platforms
|
|
145.8
|
|
137.6
|
|
6.0%
|
Online marketing and
information services and other revenue
|
|
7.6
|
|
5.4
|
|
39.3%
|
Total
|
|
249.9
|
|
230.4
|
|
8.4%
|
Gross profit was RMB53.7 million (US$8.5 million), representing an
increase of 18.7% from RMB45.3
million in the same quarter of fiscal year 2021.
Gross margin was 21.5%, representing an increase of
190 basis points from 19.6% in the same quarter of fiscal
2021.
Operating expenses were RMB78.3
million, representing a decrease of 3.8% from RMB81.4 million in the same quarter of fiscal
year 2021. Operating expenses as a percentage of total revenues was
31.3 %, down from 35.3% in the same quarter of fiscal year
2021.
- Fulfillment Expenses were RMB33.9
million, compared to RMB24.0
million in the same quarter of fiscal year 2021. Fulfillment
expenses as a percentage of total revenues were 13.6%, up from
10.4% in the same quarter of fiscal year 2021. The increase was
primarily due to increased shipping and handling expenses, which
resulted from temporary logistics price increases and
transportation restrictions due to the outbreak of Covid-19
clusters in China starting from
January 2022.
- Sales and marketing expenses were RMB33.3 million, compared to RMB38.8 million in the same quarter of fiscal
year 2021. Sales and marketing expenses as a percentage of total
revenue were 13.3%, down from 16.8% in the same quarter of fiscal
year 2021. The decrease was primarily due to decrease of
advertising expenses amount to RMB9.6
million and increase of staff costs amount to 2.2 million
compared with the same quarter of fiscal year 2021.The decrease of
advertising expenses was primarily due to the increased proportion
of revenue generated from more cost-efficient channels.
- General and administrative expenses were RMB11.2 million, representing a decrease of 39.8%
from RMB18.6 million in the same
quarter of fiscal year 2021. General and administrative expenses as
a percentage of total revenue were 4.5%, down from 8.1% in the same
quarter of fiscal year 2021. The decrease was primarily due to:(i)
the decrease of share-based compensation expense of RMB2.7 million compared with the same quarter of
fiscal year 2021; (ii) the decrease of professional fees of
RMB2.4 million incurred in connection
with our IPO in the same quarter of fiscal year 2021; (iii) the
decrease of research and development expense amount to RMB1.8 million compared with the same quarter of
fiscal year 2021.
Operating loss was RMB24.4 million (US$3.8 million), representing a decrease of
32.4% from RMB36.1 million in the
same quarter of fiscal year 2021.
EBITDA was a loss of RMB18.7million (US2.9 million), representing
a decrease of 51.9% from loss of RMB38.8 million in the same quarter of fiscal
year 2021.
Net loss was RMB22.2 million (US$3.5 million), representing
a decrease of 46.7% from net loss of RMB41.5 million in the same quarter of fiscal
year 2021.
Adjusted net loss was RMB23.5 million (US$3.7 million), representing
a decrease of 39.7% from adjusted net loss of RMB38.9 million in the same quarter of fiscal
year 2021.
Diluted net loss per share was RMB0.33 (US$0.05),
representing a decrease of 45.9% from diluted net loss per
share of RMB0.61 in the same quarter
of fiscal year 2021.
Total cash and cash equivalents and short-term
investments were RMB290.9 million
(US$45.9 million), compared to
RMB315.7 million as of December 31, 2021.
Fiscal Year 2022 Financial Results
Total revenues were RMB1,186.4 million (US$187.2 million), representing an increase
of 17.4% from RMB1,011.0 million in
the fiscal year 2021. The increase was primarily due to the
continued organic growth of our business, coupled with the recovery
of China's economy from
Covid-19.
Revenues
(in million)
|
|
|
Fiscal Year Ended
March 31
|
|
%
|
|
2022
|
|
2021
|
|
change
|
|
|
RMB
|
|
RMB
|
|
YoY
|
|
Product
sales
|
|
1,137.3
|
|
1,003.2
|
|
13.4%
|
|
- Boqii Mall
|
|
433.6
|
|
385.6
|
|
12.4%
|
|
- Third party e-commerce platforms
|
|
703.7
|
|
617.6
|
|
14.0%
|
|
Online marketing and
information services and other revenue
|
|
49.1
|
|
7.8
|
|
529.8%
|
|
Total
|
|
1,186.4
|
|
1,011.0
|
|
17.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit was RMB242.7 million (US$38.3 million), representing an increase
of 29.6% from RMB187.3 million in the
fiscal year 2021.
Gross margin was 20.5%, representing an increase of
200 basis points from 18.5% in the fiscal year 2021.
Operating expenses were RMB381.3 million, representing a decrease of
3.3% from RMB394.4 million in the
fiscal year 2021. Operating expenses as a percentage of total
revenues was 32.1%, down from 39.0% in the fiscal year
2021.
- Fulfillment Expenses were RMB134.0 million, compared to RMB120.2 million in the fiscal year 2021.
Fulfillment expenses as a percentage of total revenues were 11.3%,
down from 11.9% in the fiscal year 2021. The decrease was mainly
due to: (i) the improved utilization of warehouses by adjusting
inventory mix; and (ii) reduced delivery cost through renegotiation
of existing agreements with third-party delivery service
providers.
- Sales and marketing expenses were RMB171.0 million, compared to RMB160.2 million in the fiscal year 2021. Sales
and marketing expenses as a percentage of total revenue were 14.4%,
down from 15.8% in the fiscal year 2021. The decrease was mainly
due to the lower customer acquisition cost, as we employed more
cost-efficient channels and generated more revenue from Boqii Mall,
where the customer acquisition cost is minimal.
- General and administrative expenses were RMB76.2 million, representing a decrease of 33.1%
from RMB114.0 million in the fiscal
year 2021. General and administrative expenses as a percentage of
total revenue were 6.4%, down from 11.3% in the fiscal year 2021.
The decrease was primarily attributed to lower share-based
compensation expense. For the fiscal year 2021 and 2022, the
share-based compensation expenses were RMB
42.1 million and RMB 11.7
million respectively. Pursuant to the Amended and Restated
2018 Global Share Plan, the performance condition for options
granted thereunder was satisfied upon completion of our IPO; and as
a result, the company, upon the completion of the IPO, recorded
RMB39.8 million of cumulative
share-based compensation expenses for those options for which the
vesting conditions had been satisfied as of such date.
Operating loss was RMB138.2 million (US$21.8 million), representing a decrease of
32.9% compared to RMB206.0 million in
the fiscal year 2021.
EBITDA was a loss of RMB121.3 million (US$19.1 million), representing
a decrease of 31.4% from loss of RMB176.9 million in the fiscal year 2021.
Net loss was RMB132.8 million (US$21.0 million), representing
a decrease of 31.3% from net loss of RMB193.2 million in the fiscal year 2021.
Adjusted net loss was RMB121.2 million (US$19.1 million), representing a decrease of
18.9% from adjusted net loss of RMB149.6
million in the fiscal year 2021.
Diluted net loss per share was RMB1.90 (US$0.30),
compared to diluted net loss per share of RMB1.29 in the fiscal year 2021.
Total cash and cash equivalents and short-term
investments were RMB290.9 million
(US$45.9 million), compared to
RMB315.7 million as of December 31, 2021.
Conference Call
Boqii's management will hold a conference call to discuss the
financial results at 8:00 AM on Monday, June
6, 2022, U.S. Eastern Time (8:00 PM on Monday, June 6, 2022, Beijing/Hong Kong Time).
To join the conference, please dial in 15 minutes before the
conference is scheduled to begin using below numbers. Please ask to
be joined into the Boqii Holding Limited call
|
Phone Number
|
International
|
1-412-317-6061
|
United
States
|
1-888-317-6003
|
Hong Kong
|
852
800-963976
|
Mainland
China
|
86
4001-206115
|
Passcode
|
3392253
|
A replay of the conference call may be accessed by phone at the
following numbers until June 13,
2022.
|
Phone Number
|
International
|
1-412-317-0088
|
United
States
|
1-877-344-7529
|
Replay Access
Code
|
3959264
|
A live and archived webcast of the conference call will be
available on the Company's investor relations website at
http://ir.boqii.com/.
About Boqii Holding Limited
Boqii Holding Limited (NYSE: BQ) is a leading pet-focused
platform in China. We are the
leading online destination for pet products and supplies
in China with our broad selection of high-quality
products including global leading brands, local emerging brands,
and our own private label, Yoken and Mocare, offered
at competitive prices. Our online sales platforms,
including Boqii Mall and our flagship stores on third-party
e-commerce platforms, provide customers with convenient access to a
wide selection of high-quality pet products and an engaging and
personalized shopping experience. Our Boqii
Community provides an informative and interactive content
platform for users to share their knowledge and love for pets.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. 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, and a number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. In some cases, forward-looking statements can be
identified by words or phrases such as "may," "will," "expect,"
"anticipate," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. The Company may also make written or oral
forward-looking statements in its reports filed with, or furnished
to, the U.S. Securities and Exchange Commission (the "SEC"), in its
annual reports 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 the Company's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Further
information regarding such risks, uncertainties or factors is
included in the Company's filings with the SEC. All information
provided in this press release is as of the date of this press
release, and the Company does not undertake any duty to update such
information, except as required under applicable law.
Non-GAAP Financial Measures
The Company uses non-GAAP financial measures, namely adjusted
net loss, adjusted net loss margin, EBITDA and EBITDA margin, in
evaluating its operating results and for financial and operational
decision-making purposes. The Company defines (i) adjusted net loss
as net loss excluding fair value change of derivative liabilities
and share-based compensation expenses, (ii) adjusted net loss
margin as adjusted net loss as a percentage of total revenues,
(iii) EBITDA as net loss excluding income tax expenses, interest
expense, interest income, depreciation and amortization expenses,
(iv) EBITDA margin as EBITDA as a percentage of total revenues. The
Company believes adjusted net loss, adjusted net loss margin,
EBITDA and EBITDA margin enhance investors' overall understanding
of its financial performance and allow for greater visibility with
respect to key metrics used by its management in its financial and
operational decision-making.
These non-GAAP financial measures are not defined under U.S.
GAAP and are not presented in accordance with U.S. GAAP. As these
non-GAAP financial measures have limitations as analytical tools
and may not be calculated in the same manner by all companies, they
may not be comparable to other similarly titled measures used by
other companies. 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 reconciliation of these
non-GAAP financial measures to the most directly comparable GAAP
financial measures, please see the section of the accompanying
tables titled, "Reconciliation of GAAP and Non-GAAP Results." The
Company encourages investors and others to review its financial
information in its entirety and not rely on any single financial
measure.
Exchange Rate
This press release contains translations of certain RMB amounts
into U.S. dollars ("USD") at specified rates solely for the
convenience of the reader. Unless otherwise stated, all
translations from RMB to USD were made at the rate of RMB6.3393 to US$1.00, the noon buying rate in effect on
March 31, 2022 in the H.10
statistical release of the Federal Reserve Board. The Company makes
no representation that the RMB or USD amounts referred to could be
converted into USD or RMB, as the case may be, at any particular
rate or at all.
For investor and media inquiries, please contact:
Boqii Holding Limited
Investor Relations
Tel: +86-21-6882-6051
Email: ir@boqii.com
DLK Advisory Limited
Tel: +852-2857-7101
Email: ir@dlkadvisory.com
BOQII HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED
BALANCE SHEETS
(All amounts in thousands, except for share and per
share data, unless otherwise noted)
|
|
As of
March 31,
2021
|
|
As of
March 31,
2022
|
|
As
of
March 31,
2022
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
292,237
|
|
162,855
|
|
25,690
|
Short-term
investments
|
168,546
|
|
128,084
|
|
20,205
|
Accounts receivable,
net
|
45,732
|
|
49,231
|
|
7,766
|
Inventories,
net
|
91,551
|
|
109,921
|
|
17,340
|
Prepayments and other
current assets
|
85,261
|
|
116,738
|
|
18,415
|
Amounts due from
related parties
|
11,465
|
|
11,726
|
|
1,850
|
Total current
assets
|
694,792
|
|
578,555
|
|
91,266
|
Non-current
assets:
|
|
|
|
|
|
Property and equipment,
net
|
8,386
|
|
7,779
|
|
1,227
|
Intangible
assets
|
29,537
|
|
25,544
|
|
4,029
|
Operating lease
right-of-use assets
|
29,234
|
|
38,567
|
|
6,084
|
Long-term
investments
|
74,330
|
|
82,319
|
|
12,986
|
Goodwill
|
40,184
|
|
40,684
|
|
6,418
|
Other non-current
asset
|
4,111
|
|
4,861
|
|
767
|
Total non-current
assets
|
185,782
|
|
199,754
|
|
31,511
|
Total
assets
|
880,574
|
|
778,309
|
|
122,777
|
LIABILITIES,
MEZZANINE EQUITY AND
SHAREHOLDERS' DEFICIT
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Short-term
borrowings
|
85,566
|
|
161,126
|
|
25,417
|
Accounts
payable
|
71,848
|
|
94,224
|
|
14,863
|
Salary and welfare
payable
|
6,309
|
|
6,871
|
|
1,084
|
Accrued liabilities and
other current liabilities
|
30,055
|
|
27,324
|
|
4,310
|
Amounts due to related
parties, current
|
910
|
|
219
|
|
35
|
Contract
liabilities
|
3,866
|
|
7,007
|
|
1,105
|
Operating lease
liabilities, current
|
8,063
|
|
10,001
|
|
1,578
|
Derivative
liabilities
|
9,996
|
|
9,086
|
|
1,433
|
Total current
liabilities
|
216,613
|
|
315,858
|
|
49,825
|
Non-current
liabilities
|
|
|
|
|
|
Deferred tax
liabilities
|
8,958
|
|
4,847
|
|
765
|
Operating lease
liabilities, non-current
|
19,997
|
|
28,197
|
|
4,448
|
Long-term
borrowings
|
68,075
|
|
-
|
|
-
|
Other debts,
non-current
|
433,292
|
|
181,062
|
|
28,562
|
Total non-current
liabilities
|
530,322
|
|
214,106
|
|
33,775
|
Total
liabilities
|
746,935
|
|
529,964
|
|
83,600
|
|
|
|
|
|
|
Mezzanine
equity
|
|
|
|
|
|
Redeemable
non-controlling interests
|
5,946
|
|
6,522
|
|
1,029
|
Total mezzanine
equity
|
5,946
|
|
6,522
|
|
1,029
|
Stockholders'
equity:
|
|
|
|
|
|
Class A ordinary shares
(US$0.001 par value; 129,500,000
shares authorized, 54,505,108 and 55,709,591
shares
issued and outstanding as of March 31 ,2021 and
March
31, 2022, respectively)
|
364
|
|
372
|
|
59
|
Class B ordinary shares
(US$0.001 par value; 15,000,000
shares authorized, 13,037,729 shares issued and
outstanding as of March 31,2021 and March, 31,
2022,
respectively)
|
82
|
|
82
|
|
13
|
Additional paid-in
capital
|
3,272,612
|
|
3,295,336
|
|
519,826
|
Statutory
reserves
|
3,047
|
|
3,433
|
|
542
|
Accumulated other
comprehensive loss
|
(20,172)
|
|
(46,069)
|
|
(7,267)
|
Accumulated
deficit
|
(2,759,882)
|
|
(2,889,233)
|
|
(455,765)
|
Receivable for issuance
of ordinary shares
|
(413,377)
|
|
(164,746)
|
|
(25,988)
|
Total Boqii Holding
Limited shareholders' equity
|
82,674
|
|
199,175
|
|
31,420
|
Non-controlling
interests
|
45,019
|
|
42,648
|
|
6,728
|
Total shareholders'
equity
|
127,693
|
|
241,823
|
|
38,148
|
Total liabilities,
mezzanine equity and shareholders' equity
|
880,574
|
|
778,309
|
|
122,777
|
|
Notes for all the
condensed consolidated financial schedules presented:
|
Note 1: The conversion
of Renminbi (RMB) into U.S. dollars (USD) is based on the certified
exchange rate of
USD1.00=RMB6.3393 on 31 March, 2022 published by the Federal
Reserve Board.
|
BOQII HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE LOSS
(All amounts in thousands, except for share and per
share data, unless otherwise noted)
|
|
|
|
Three Months Ended
March 31,
|
|
Fiscal Year Ended
March 31,
|
|
2021
|
|
2022
|
|
2022
|
|
2021
|
|
2022
|
|
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
Product
sales
|
225,013
|
|
242,307
|
|
38,223
|
|
1,003,197
|
|
1,137,329
|
|
179,409
|
|
Online marketing and
information services and
other revenue
|
5,420
|
|
7,550
|
|
1,191
|
|
7,788
|
|
49,100
|
|
7,745
|
|
Total
revenues
|
230,433
|
|
249,857
|
|
39,414
|
|
1,010,985
|
|
1,186,429
|
|
187,154
|
|
Total cost of
revenue
|
(185,179)
|
|
(196,132)
|
|
(30,939)
|
|
(823,686)
|
|
(943,698)
|
|
(148,865)
|
|
Gross
profit
|
45,254
|
|
53,725
|
|
8,475
|
|
187,299
|
|
242,731
|
|
38,289
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Fulfillment expenses
|
(23,964)
|
|
(33,852)
|
|
(5,340)
|
|
(120,188)
|
|
(134,026)
|
|
(21,142)
|
|
Sales and
marketing expenses
|
(38,808)
|
|
(33,275)
|
|
(5,249)
|
|
(160,201)
|
|
(170,986)
|
|
(26,972)
|
|
General
and administrative expenses
|
(18,596)
|
|
(11,192)
|
|
(1,765)
|
|
(113,972)
|
|
(76,248)
|
|
(12,028)
|
|
Other income,
net
|
21
|
|
193
|
|
30
|
|
1,067
|
|
280
|
|
44
|
|
Loss from
operations
|
(36,093)
|
|
(24,401)
|
|
(3,849)
|
|
(205,995)
|
|
(138,249)
|
|
(21,809)
|
|
Interest
income
|
5,880
|
|
2,143
|
|
338
|
|
17,553
|
|
15,477
|
|
2,441
|
|
Interest
expense
|
(7,101)
|
|
(3,890)
|
|
(614)
|
|
(27,650)
|
|
(20,884)
|
|
(3,294)
|
|
Other (losses)/gain,
net
|
(4,996)
|
|
2,361
|
|
372
|
|
11,332
|
|
6,020
|
|
950
|
|
Fair value change of
derivative liabilities
|
960
|
|
1,493
|
|
236
|
|
11,369
|
|
2,824
|
|
445
|
|
Loss before income
tax expenses
|
(41,350)
|
|
(22,294)
|
|
(3,517)
|
|
(193,391)
|
|
(134,812)
|
|
(21,267)
|
|
Income taxes
expenses
|
459
|
|
165
|
|
26
|
|
871
|
|
1,571
|
|
248
|
|
Share of results of
equity investees
|
(641)
|
|
(34)
|
|
(5)
|
|
(696)
|
|
418
|
|
65
|
|
Net
loss
|
(41,532)
|
|
(22,163)
|
|
(3,496)
|
|
(193,216)
|
|
(132,823)
|
|
(20,954)
|
|
Less: Net (loss)/income
attributable to the non-
controlling interest shareholders
|
(909)
|
|
261
|
|
41
|
|
1,228
|
|
(4,433)
|
|
(699)
|
|
Net loss
attributable to Boqii Holding
Limited
|
(40,623)
|
|
(22,424)
|
|
(3,537)
|
|
(194,444)
|
|
(128,390)
|
|
(20,225)
|
|
Accretion on
convertible redeemable preferred
shares to redemption value
|
-
|
|
-
|
|
-
|
|
120,873
|
|
-
|
|
-
|
|
Accretion on redeemable
non-controlling
interests to redemption value
|
(138)
|
|
(147)
|
|
(23)
|
|
(138)
|
|
(575)
|
|
(91)
|
|
Deemed dividend to
preferred shareholders
|
-
|
|
-
|
|
-
|
|
(12,547)
|
|
-
|
|
-
|
|
Net
loss attributable to Boqii Holding
Limited's ordinary shareholders
|
(40,761)
|
|
(22,571)
|
|
(3,560)
|
|
(86,256)
|
|
(128,965)
|
|
(20,346)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
(41,532)
|
|
(22,163)
|
|
(3,496)
|
|
(193,216)
|
|
(132,823)
|
|
(20,954)
|
|
Other comprehensive
income/(loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign
currency translation adjustment, net
of nil tax
|
3,431
|
|
(3,026)
|
|
(477)
|
|
(32,148)
|
|
(16,529)
|
|
(2,606)
|
|
Unrealized securities
holding (loss)/gains
|
(423)
|
|
(9,368)
|
|
(1,478)
|
|
772
|
|
(9,368)
|
|
(1,478)
|
|
Total comprehensive
loss
|
(38,524)
|
|
(34,557)
|
|
(5,451)
|
|
(224,592)
|
|
(158,720)
|
|
(25,038)
|
|
Less: Total
comprehensive (loss)/income
attributable to non-controlling interest
shareholders
|
(909)
|
|
261
|
|
41
|
|
1,228
|
|
(4,433)
|
|
(699)
|
|
Total comprehensive
loss attributable to
Boqii Holding Limited
|
(37,615)
|
|
(34,818)
|
|
(5,492)
|
|
(225,820)
|
|
(154,287)
|
|
(24,339)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share
attributable to Boqii
Holding Limited's ordinary
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
— basic
|
(0.61)
|
|
|
(0.33)
|
(0.05)
|
|
(1.29)
|
|
(1.90)
|
|
|
(0.30)
|
|
|
— diluted
|
(0.61)
|
|
|
(0.33)
|
(0.05)
|
|
(1.29)
|
|
(1.90)
|
|
|
(0.30)
|
|
|
Weighted average
number of ordinary
shares
|
|
|
|
|
|
|
|
|
|
|
|
|
— basic
|
66,953,610
|
|
68,832,483
|
68,832,483
|
|
66,953,610
|
|
68,006,172
|
|
|
68,006,172
|
|
|
— diluted
|
66,953,610
|
|
68,832,483
|
68,832,483
|
|
66,953,610
|
|
68,006,172
|
|
|
68,006,172
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes for all the
condensed consolidated financial schedules presented:
|
Note 1: The conversion
of Renminbi (RMB) into U.S. dollars (USD) is based on the certified
exchange rate of USD1.00=RMB6.3393 on 31
March, 2022 published by the Federal Reserve Board.
|
|
Boqii Holding Limited
Reconciliation of GAAP and Non-GAAP
Results
(In thousands)
|
|
|
|
|
|
|
|
|
|
Three Months Ended
March 31,
|
|
Fiscal Year Ended
March 31,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
RMB
|
|
RMB
|
|
|
|
|
|
|
|
|
Net loss
|
(41,532)
|
|
(22,163)
|
|
(193,216)
|
|
(132,823)
|
Fair value change of
derivative liabilities
|
(960)
|
|
(1,493)
|
|
(11,369)
|
|
(2,824)
|
Share-based
compensation
|
3,600
|
|
194
|
|
55,022
|
|
14,409
|
Adjusted Net
Loss
|
(38,892)
|
|
(23,462)
|
|
(149,563)
|
|
(121,238)
|
Adjusted Net Loss
Margin
|
(16.9%)
|
|
(9.4%)
|
|
(14.8%)
|
|
(10.2%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
March 31,
|
|
Fiscal Year Ended
March 31,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
RMB
|
|
RMB
|
|
|
|
|
|
|
|
|
Net loss
|
(41,532)
|
|
(22,163)
|
|
(193,216)
|
|
(132,823)
|
Income tax
expenses
|
(459)
|
|
(165)
|
|
(871)
|
|
(1,571)
|
Interest
expenses
|
7,101
|
|
3,890
|
|
27,650
|
|
20,884
|
Interest
income
|
(5,880)
|
|
(2,143)
|
|
(17,553)
|
|
(15,477)
|
Depreciation and
amortization
|
1,946
|
|
1,888
|
|
7,081
|
|
7,678
|
EBITDA
|
(38,824)
|
|
(18,693)
|
|
(176,909)
|
|
(121,309)
|
EBITDA
Margin
|
(16.8%)
|
|
(7.5%)
|
|
(17.5%)
|
|
(10.2%)
|
|
|
Notes for all the
condensed consolidated financial schedules presented:
|
Note 1: The conversion
of Renminbi (RMB) into U.S. dollars (USD) is based on the certified
exchange rate of USD1.00=RMB6.3393 on 31
March, 2022 published by the Federal Reserve Board.
|
|
View original
content:https://www.prnewswire.com/news-releases/boqii-announces-fourth-quarter-and-full-fiscal-year-2022-unaudited-financial-results-301561662.html
SOURCE Boqii Holding Limited