SHANGHAI, May 14, 2020 /PRNewswire/ -- CooTek (Cayman) Inc.
(NYSE: CTK) ("CooTek" or the "Company"), a fast-growing global
mobile internet company, today reported unaudited financial results
for the first quarter ended March 31,
2020.
First Quarter 2020 Highlights
- Net revenue was US$107.0 million,
an increase of 167% from US$40.0
million during the same period last year.
- Gross profit was US$102.4
million, an increase of 181% from US$36.5 million during the same period last
year.
- Gross profit margin was 95.7%, an increase of 4.5%
year-over-year.
- Net loss was US$9.7 million,
compared with net income US$0.2
million during the same period last year.
- Adjusted net loss[1] (Non-GAAP) was US$8.8 million, compared with adjusted net income
(Non-GAAP) of US$1.3 million during
the same period last year.
- The Company's portfolio products contributed approximately 98%
of total revenues, with a focus on three main categories: online
literature, scenario-base content apps, and casual games. Casual
games accounted for approximately 32% of the Company's total net
revenues.
March 2020 Operational
Highlights
- Average daily active users ("DAUs") of the Company's portfolio
products[2] were 25.2 million, an increase of 9% from
23.1 million in March 2019. Average
DAUs of the Company's casual games were 2.6 million, an increase of
100% from 1.3 million in December
2019.
- Monthly active users ("MAUs") of the Company's portfolio
products were 89.2 million, an increase of 49% from 59.8 million in
March 2019. MAUs of the Company's
casual games were 24.5 million, an increase of 136% from 10.4
million in December 2019.
- Average DAUs of TouchPal Smart Input were 136.5 million, a
decrease of 6% from 145.9 million in March
2019.
- MAUs of TouchPal Smart Input were 178.8 million, a decrease of
7% from 192.3 million in March
2019
- Average DAUs of the Company's global products[3]
were 161.7 million, a decrease of 4% from 169.0 million in
March 2019.
- MAUs of the Company's global products were 268.0 million, an
increase of 6% from 252.1 million in March
2019.
"Our strong results this quarter once again exceeded our
expectations," commented Mr. Karl
Zhang, CooTek's Co-Founder and Chairman. "Revenue for the
quarter exceeded our guidance of $85
million by 26% and increased by 55% sequentially surpassing
the US$100 million mark for the first
time. Total MAUs of our content-rich portfolio of apps increased by
nearly 20% sequentially to 89 million. This performance further
demonstrates our ability to derive sophisticated user insights and
drive growth . We aim to empower everyone to enjoy relevant content
seamlessly and are confident in our ability to sustain high-growth
momentum across all three content categories we are focused on:
online literature, scenario-base content apps and casual
games."
[1] "Adjusted net
income (loss)" (Non-GAAP) is a non-GAAP measure, which is defined
as net income (loss) excluding share-based compensation. For
further information, please see "Non-GAAP Financial Measures" and
"Reconciliations of GAAP and non-GAAP results" at the bottom of
this release.
|
|
[2] "portfolio products" is to the
mobile applications that we develop and provide to our users and
business partners, which exclude TouchPal Smart Input and TouchPal
Phonebook.
|
|
[3] "global products"
is to the mobile applications that we develop and provide to our
users and business partners, which excludes TouchPal Phonebook.
TouchPal Phonebook targets the Chinese domestic market and is
different from TouchPal Smart Input and portfolio products that are
designed for the global market (including China).
|
(in
millions)
|
Portfolio
Products
|
|
TouchPal Smart
Input
|
|
Total
|
|
Including: Casual
Games
|
|
|
|
|
DAUs
|
MAUs
|
|
DAUs
|
MAUs
|
|
DAUs
|
MAUs
|
Mar' 18
|
4.6
|
14.4
|
|
-
|
-
|
|
115.7
|
161.6
|
Jun' 18
|
7.3
|
22.2
|
|
-
|
-
|
|
125.4
|
171.7
|
Sep' 18
|
11.0
|
33.7
|
|
-
|
-
|
|
132.9
|
180.0
|
Dec' 18
|
16.9
|
46.1
|
|
-
|
-
|
|
140.8
|
190.5
|
Mar' 19
|
23.1
|
59.8
|
|
-
|
-
|
|
145.9
|
192.3
|
Jun' 19
|
27.6
|
65.1
|
|
-
|
-
|
|
143.7
|
190.4
|
Sep' 19
|
23.9
|
67.5
|
|
0.3
|
2.7
|
|
140.8
|
185.1
|
Dec' 19
|
24.7
|
74.6
|
|
1.3
|
10.4
|
|
137.6
|
182.8
|
Mar' 20
|
25.2
|
89.2
|
|
2.6
|
24.5
|
|
136.5
|
178.8
|
First Quarter 2020 Financial Results
Net Revenues
(in US$ thousands,
except percentage)
|
1Q
2020
|
|
4Q
2019
|
|
1Q
2019
|
|
QoQ %
Change
|
|
YoY %
Change
|
|
|
|
|
|
|
|
|
|
|
Mobile Advertising
Revenue
|
106,423
|
|
68,465
|
|
39,377
|
|
55%
|
|
170%
|
Other
Revenue
|
590
|
|
519
|
|
660
|
|
14%
|
|
(11)%
|
Total Net
Revenues
|
107,013
|
|
68,984
|
|
40,037
|
|
55%
|
|
167%
|
Net revenues were US$107.0
million, an increase of 167% from US$40.0 million during the first quarter of 2019
and an increase of 55% from US$69.0
million last quarter. The increase was primarily due to an
increase in mobile advertising revenue.
Mobile advertising revenue was US$106.4 million, an increase of 170% from
US$39.4 million during the first
quarter of 2019 and an increase of 55% from US$68.5 million last quarter.
Portfolio products accounted for approximately 98%, TouchPal
Smart Input accounted for approximately 0.2% and TouchPal Phonebook
accounted for approximately 1% of total net revenues. Our portfolio
products focus on three categories: online literature,
scenario-base content apps and casual games. Online literature and
scenario-base content apps accounted for approximately 66%, and
casual games accounted for approximately 32% of total net
revenue.
Cost and Operating Expenses
|
1Q
2020
|
|
4Q
2019
|
|
1Q
2019
|
|
QoQ
%
|
|
YoY
%
|
(in US$ thousands,
except percentage)
|
US$
|
|
% of
revenue
|
|
US$
|
|
% of
revenue
|
|
US$
|
|
% of
revenue
|
|
Change
|
|
change
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
4,582
|
|
4%
|
|
3,866
|
|
6%
|
|
3,541
|
|
8%
|
|
19%
|
|
29%
|
Sales and
marketing
|
102,436
|
|
96%
|
|
63,495
|
|
92%
|
|
27,378
|
|
68%
|
|
61%
|
|
274%
|
Research and
development
|
6,847
|
|
6%
|
|
5,738
|
|
8%
|
|
6,616
|
|
17%
|
|
19%
|
|
3%
|
General and
administrative
|
3,301
|
|
3%
|
|
2,752
|
|
4%
|
|
2,344
|
|
6%
|
|
20%
|
|
41%
|
Other operating
income, net
|
(390)
|
|
(0)%
|
|
(644)
|
|
(1)%
|
|
(68)
|
|
(0)%
|
|
(39)%
|
|
474%
|
Total Cost and
Expenses
|
116,776
|
|
109%
|
|
75,207
|
|
109%
|
|
39,811
|
|
99%
|
|
55%
|
|
193%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses by function
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
53
|
|
0.0%
|
|
26
|
|
0.0%
|
|
18
|
|
0.0%
|
|
104%
|
|
194%
|
Sales and
marketing
|
48
|
|
0.0%
|
|
45
|
|
0.1%
|
|
59
|
|
0.1%
|
|
7%
|
|
(19)%
|
Research and
development
|
481
|
|
0.4%
|
|
242
|
|
0.4%
|
|
918
|
|
2.3%
|
|
99%
|
|
(48)%
|
General and
administrative
|
359
|
|
0.3%
|
|
133
|
|
0.2%
|
|
148
|
|
0.4%
|
|
170%
|
|
143%
|
Total share-based
compensation expenses
|
941
|
|
0.9%
|
|
446
|
|
0.7%
|
|
1,143
|
|
2.9%
|
|
111%
|
|
(18)%
|
Cost of revenues was US$4.6
million, an increase of 29% from US$3.5 million during the same period last year,
and an increase of 19% from US$3.9
million last quarter. The sequential and year-over-year
increase was mainly due to an increase in operational and
maintenance-related expenses associated with the Company's
expanding business, and partially offset by a decline in
VoIP-related expenses.
Gross profit was US$102.4
million, an increase of 181% from US$36.5 million during the same period last year,
and an increase of 57% from US$65.1
million last quarter. Gross profit margin was 95.7%,
compared with 91.2% in the same period last year and 94.4% last
quarter.
Sales and marketing expenses were US$102.4 million, an increase of 274% from
US$27.4 million during the same
period last year, and an increase of 61% from US$63.5 million last quarter. As a percentage of
total revenue, sales and marketing expenses accounted for 96%,
compared with 68% during the same period last year, and 92% last
quarter. The sequential and year-over-year increases in sales and
marketing expenses as a percentage of total net revenue was
primarily due to increased investment in user acquisition that was
in line with the Company's expanding business.
Research and development expenses were US$6.8 million, an increase of 3% from
US$6.6 million during the same period
last year and an increase of 19% from US$5.7
million last quarter. The sequential increase was primarily
due to an increase in costs associated with technology R&D
staff and share-based compensation expenses. As a percentage of
total net revenue, research and development expenses accounted for
6%, compared with 17% during the same period last year and 8% last
quarter.
General and administrative expenses were US$3.3 million, an increase of 41% from
US$2.3 million during the same period
last year and an increase of 20% from US$2.8
million last quarter. The sequential increases were mainly
due to a reversal of bad debt provision of US$0.6 million during the fourth quarter of 2019.
The year-over-year increase was mainly due to a rise in costs
associated with G&A staff and share-based compensation
expenses. As a percentage of total net revenue, general and
administrative expenses accounted for 3%, compared with 6% during
the same period last year and 4% last quarter.
Other operating income, net was US$0.4 million, compared with other operating
income, net US$0.07 million during
the same period last year and other operating income, net
US$0.6 million last quarter.
Impairment loss of investments was nil, compared with nil
during the same period last year and US$0.5
million last quarter. Considering a deterioration in the
investee's financial performance and the uncertainty of its ability
to generate sufficient cash flow to operate, the Company decided to
make a full provision of US$0.5
million in the fourth quarter of 2019.
Net loss was US$9.7
million, compared with net income of US$0.2 million during the same period last year
and a net loss of US$6.6 million last
quarter.
Adjusted net loss was US$8.8 million, compared with adjusted net income
of US$1.3 million in the same period
last year and adjusted net loss of US$6.2
million last quarter. The sequential increase of the
adjusted net loss was mainly due to increased investments in user
acquisition.
In US$ thousands,
except percentage
|
1Q
2020
|
|
4Q
2019
|
|
1Q
2019
|
|
QoQ %
Change
|
|
YoY %
change
|
|
|
|
|
|
|
|
|
|
|
Net (loss)
income
|
(9,738)
|
|
(6,646)
|
|
172
|
|
47%
|
|
(5,762)%
|
Add: Share-based
Compensation related to share options and restricted share
units
|
941
|
|
446
|
|
1,143
|
|
111%
|
|
(18)%
|
Adjusted Net (Loss)
Income (Non-GAAP)
|
(8,797)
|
|
(6,200)
|
|
1,315
|
|
42%
|
|
(769)%
|
Basic and diluted net loss per ADS were US$0.16 and US$0.16, and basic and diluted Adjusted net loss
(Non-GAAP) per ADS were US$0.14 and
US$0.14.
Balance Sheet and Cash Flows
As of March 31, 2020, cash, cash
equivalents and restricted cash were US$70.0
million, compared with US$60.0
million as of December 31,
2019.
Net cash inflow from operating activities during the first
quarter of 2020 was US$15.0 million,
compared with net cash outflow from operating activities of
US$3.3 million for the same period in
2019 and net cash inflow from operating activities of US$3.2 million during the last quarter. Cash
inflow from operating activities during the first quarter of 2020
was mainly due to working capital utilization improvements and was
partially offset by a loss from operations.
Share Repurchase Plan
On November 20, 2019, the Company
announced a new share repurchase program (the "2019 Program")
whereby the Company is authorized to repurchase its class A
ordinary shares in the form of ADSs with an aggregate value of up
to US$6 million during the 6-month
period starting from November 20,
2019. As of March 31, 2020,
the Company had used an aggregate of US$5.1
million to repurchase 0.9 million ADSs under the 2019
Program and recorded as treasury stock.
The Company will early terminate the 2019 Program on
May 18, 2020, and take effect a new
share repurchase program on the same day. In the new share
repurchase program, the Company is authorized to repurchase its
class A ordinary shares in the form of American depository shares
with an aggregate value of up to US$20
million during the 12-month period starting from
May 18, 2020. The Company expects to
fund the repurchases under this program with its existing cash
balance.
"We announce a new share repurchase program which reflects our
confidence in the long-term growth and the value of our business"
commented Mr. Karl Zhang, CooTek
co-founder and Chairman.
Effects of COVID-19
The outbreak of COVID-19 could cause the Company's advertising
and marketing customers to reduce their advertising budgets because
these customers experienced various degrees of temporary shutdowns
in the first quarter of 2020. In addition, while CooTek has resumed
its operations, the extent of the disruption and the related impact
on its financial results and business outlook depends on the future
developments of the global pandemic.
As of March 31, 2020, CooTek had
US$70.0 million in cash, cash
equivalents, and restricted cash. Cash and cash equivalents
primarily consist of cash on hand, demand deposits and short-term
floating rate financial instruments which can be freely withdrawn
or used and have original maturities of three months or less when
purchased. Restricted cash consists of bank deposits used to
guarantee payment processing services provided by banks. The
Company believes this level of liquidity is sufficient to navigate
an extended period of uncertainty.
Business Outlook
For the second quarter of 2020, CooTek expects total revenue to
be around US$120 million,
representing a year-over-year increase of around 219%. 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 and Webcast
CooTek's management team will host a conference call at
8:00 AM U.S. Eastern Time on
Friday, May 15, 2020 (8:00 PM Beijing Time on the same day), following
the results announcement.
The dial-in details for the live conference call are:
United States:
1-888-346-8982
Hong Kong: 800-905-945
Mainland China: 4001-201-203
International: 1-412-902-4272
Please dial in 15 minutes before the call is scheduled to begin.
When prompted, ask to be connected to the CooTek (Cayman)
Inc. call.
A live webcast and archive of the conference call will be
available on the Investor Relations section of CooTek's website at
https://ir.cootek.com/.
About CooTek (Cayman) Inc.
CooTek is a fast-growing mobile internet company with a global
vision, offering mobile applications. Our mission is to empower
everyone to enjoy relevant content seamlessly. The Company's
user-centric and data-driven approach has enabled it to release
appealing products to capture mobile internet users' ever-evolving
content needs and helps it rapidly attract targeted users. CooTek
has developed and brought to market content-rich mobile
applications, focusing on three categories: online literature,
scenario-base content apps and casual games.
Non-GAAP Financial Measure
To supplement the unaudited consolidated financial information
prepared in accordance with generally accepted accounting
principles in the United States of
America ("GAAP"), the Company uses non-GAAP financial
measure of adjusted net (loss) income that is adjusted from results
based on GAAP to exclude the impact of share-based compensation,
and Adjusted EBITDA that is net (loss) income excluding interest
income and expense, income taxes, depreciation, and share-based
compensation. The measure should be considered in addition to
results prepared in accordance with GAAP, but should not be
considered a substitute for, or superior to, GAAP results.
The Company believes that the non-GAAP measure help identify
underlying financial and business trends relating to the Company's
results of operations that could otherwise be distorted by the
effect of certain expenses that the Company include in (loss)
income from operations and net (loss) income. By making the
Company's financial results comparable period over period, the
Company believes adjusted net (loss) income and Adjusted EBITDA
provides useful information to better understand the Company's
historical business operations and future prospects and allows for
greater visibility with respect to key metrics used by the
management in financial and operational decision-making. In order
to mitigate these limitations, the Company has provided specific
information regarding the GAAP amounts excluded from the non-GAAP
measure. The table at the bottom of this press release includes
details on the reconciliation between GAAP financial measure that
is most directly comparable to the non-GAAP financial measure the
Company has presented.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and 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. CooTek may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, 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. Any statements
that are not historical facts, including statements about CooTek's
beliefs and expectations, are forward-looking statements that
involve factors, risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Such factors and risks include, but not limited to the
following: CooTek's mission and strategies; future business
development, financial conditions and results of operations; the
expected growth of the mobile internet industry and mobile
advertising industry; the expected growth of mobile advertising;
expectations regarding demand for and market acceptance of our
products and services; competition in mobile application and
advertising industry; relevant government policies and regulations
relating to the industry and the development and impacts of
COVID-19. Further information regarding these and other risks,
uncertainties or factors is included in the Company's filings with
the U.S. Securities and Exchange Commission. All information
provided in this press release is current as of the date of the
press release, and CooTek does not undertake any obligation to
update such information, except as required under applicable
law.
For investor enquiries, please contact:
CooTek (Cayman) Inc.
Jacky Lin
Email: IR@cootek.com
Christensen
In China
Mr. Christian Arnell
+86-10-5900-1548
carnell@christensenir.com
In US
Ms. Linda Bergkamp
+1-480-614-3004
lbergkamp@christensenir.com
CooTek (Cayman)
INC.
Unaudited
Condensed Consolidated Statement of Operations
(in thousands,
except for share and per share data)
|
|
|
Three Months
Ended
|
|
March
31,
|
|
December
31,
|
|
March
31,
|
|
2019
|
|
2019
|
|
2020
|
|
US$
|
|
US$
|
|
US$
|
|
|
|
|
|
|
Net revenues
|
40,037
|
|
68,984
|
|
107,013
|
Cost of
revenues
|
(3,541)
|
|
(3,866)
|
|
(4,582)
|
Gross
Profit
|
36,496
|
|
65,118
|
|
102,431
|
Operating
expenses:
|
|
|
|
|
|
Sales and marketing
expenses
|
(27,378)
|
|
(63,495)
|
|
(102,436)
|
Research and
development expenses
|
(6,616)
|
|
(5,738)
|
|
(6,847)
|
General and
administrative expenses
|
(2,344)
|
|
(2,752)
|
|
(3,301)
|
Other operating
income, net
|
68
|
|
644
|
|
390
|
Total operating
expenses
|
(36,270)
|
|
(71,341)
|
|
(112,194)
|
Income (loss) from
operations
|
226
|
|
(6,223)
|
|
(9,763)
|
Impairment loss of
investments
|
—
|
|
(500)
|
|
—
|
Interest income,
net
|
362
|
|
55
|
|
23
|
Foreign exchange
(loss) gain
|
(416)
|
|
22
|
|
2
|
Income (loss) before
income taxes
|
172
|
|
(6,646)
|
|
(9,738)
|
Income tax
expense
|
—
|
|
—
|
|
—
|
Net income
(loss)
|
172
|
|
(6,646)
|
|
(9,738)
|
Net income (loss) per
ordinary share
|
|
|
|
|
|
Basic
|
0.00005
|
|
(0.002)
|
|
(0.003)
|
Diluted
|
0.00005
|
|
(0.002)
|
|
(0.003)
|
Weighted average shares
used in calculating net income (loss) per ordinary share
|
|
|
|
|
|
Basic
|
3,181,144,897
|
|
3,129,987,962
|
|
3,104,677,914
|
Diluted
|
3,310,299,485
|
|
3,129,987,962
|
|
3,104,677,914
|
Non-GAAP Financial
Data
|
|
|
|
|
|
Adjusted Net Income
(Loss)
|
1,315
|
|
(6,200)
|
|
(8,797)
|
Adjusted
EBITDA
|
1,422
|
|
(5,346)
|
|
(8,068)
|
Unaudited
Condensed Consolidated Balance Sheets
(in thousands,
except for share and per share data)
|
|
|
As of
|
|
December 31,
2019
|
|
March 31,
2020
|
|
US$
|
|
US$
|
|
|
|
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
59,906
|
|
69,966
|
Restricted
cash
|
60
|
|
60
|
Short-term
investment
|
572
|
|
571
|
Accounts receivable,
net of allowance for doubtful accounts of $1,774 as of
December 31, 2019 and $1,931 as of March
31, 2020, respectively
|
27,255
|
|
36,537
|
Prepaid expenses and
other current assets
|
7,848
|
|
8,191
|
Total current
assets
|
95,641
|
|
115,325
|
Property and
equipment, net
|
5,669
|
|
5,573
|
Intangible assets,
net
|
268
|
|
308
|
Other non-current
assets
|
259
|
|
304
|
TOTAL
ASSETS
|
101,837
|
|
121,510
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
Current
liabilities
|
|
|
|
Accounts
payable
|
37,878
|
|
66,441
|
Short-term bank
borrowings
|
9,013
|
|
8,923
|
Accrued salary and
benefits
|
5,598
|
|
3,549
|
Accrued expenses and
other current liabilities
|
5,956
|
|
7,146
|
Deferred
revenue
|
3,888
|
|
8,410
|
Total current
liabilities
|
62,333
|
|
94,469
|
Other non-current
liabilities
|
596
|
|
562
|
TOTAL
LIABILITIES
|
62,929
|
|
95,031
|
Unaudited
Condensed Consolidated Balance Sheets (continued):
(in thousands,
except for share and per share data)
|
|
|
As of
|
|
December 31,
2019
|
|
March 31,
2020
|
|
US$
|
|
US$
|
|
|
|
|
Shareholders'
Equity:
|
|
|
|
Ordinary
shares
|
31
|
|
31
|
Treasury
Stock
|
(1,064)
|
|
(5,081)
|
Additional paid-in
capital
|
194,972
|
|
196,076
|
Accumulated
deficit
|
(153,598)
|
|
(163,336)
|
Accumulated other
comprehensive loss
|
(1,433)
|
|
(1,211)
|
Total Shareholders'
Equity
|
38,908
|
|
26,479
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
101,837
|
|
121,510
|
Unaudited
Condensed Consolidated Statement of Cash Flows
(in thousands,
except for share and per share data)
|
|
|
Three Months
Ended
|
|
March
31,
|
|
December
31,
|
|
March
31,
|
|
2019
|
|
2019
|
|
2020
|
|
US$
|
|
US$
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in)
provided by operating activities
|
(3,334)
|
|
3,237
|
|
14,960
|
Net cash used in
investing activities
|
(524)
|
|
(1,235)
|
|
(769)
|
Net cash (used in)
provided by financing activities
|
(4,049)
|
|
1,436
|
|
(3,854)
|
Net (decrease) increase
in cash and cash equivalents
|
(7,907)
|
|
3,438
|
|
10,337
|
Cash, cash equivalents,
and restricted cash at beginning of period
|
84,860
|
|
56,270
|
|
59,966
|
Effect of exchange rate
changes on cash and cash equivalents
|
330
|
|
258
|
|
(277)
|
Cash, cash equivalents,
and restricted cash at end of period
|
77,283
|
|
59,966
|
|
70,026
|
Reconciliations of
GAAP and Non-GAAP Results
(in thousands,
except for share and per share data)
|
|
|
Three Months
Ended
|
|
March
31,
|
|
December
31,
|
|
March
31,
|
|
2019
|
|
2019
|
|
2020
|
|
US$
|
|
US$
|
|
US$
|
|
|
|
|
|
|
Net income
(loss)
|
172
|
|
(6,646)
|
|
(9,738)
|
Add:
|
|
|
|
|
|
Share-based
compensation related to share options and restricted share
units
|
1,143
|
|
446
|
|
941
|
Adjusted Net
Income (Loss) (Non-GAAP)*
|
1,315
|
|
(6,200)
|
|
(8,797)
|
Add:
|
|
|
|
|
|
Interest income,
net
|
(362)
|
|
(55)
|
|
(23)
|
Income
taxes
|
—
|
|
—
|
|
—
|
Depreciation
|
469
|
|
909
|
|
752
|
Adjusted EBITDA
(Non-GAAP)*
|
1,422
|
|
(5,346)
|
|
(8,068)
|
|
* The tax impact to
the non-GAAP adjustments is zero.
|
View original
content:http://www.prnewswire.com/news-releases/cootek-announces-first-quarter-2020-unaudited-results-301059971.html
SOURCE CooTek