BEIJING, Nov. 25, 2019 /PRNewswire/ -- Leju Holdings
Limited ("Leju" or the "Company") (NYSE: LEJU), a leading
e-commerce and online media platform for real estate and home
furnishing industries in China, today announced its unaudited
financial results for the fiscal quarter and nine months ended
September 30, 2019.
Third Quarter 2019 Financial Highlights
- Total revenues increased by 39% year-on-year to $185.4 million.
- Revenues from e-commerce services increased by 58% year-on-year
to $153.4 million.
- Revenues from online advertising services decreased by 13%
year-on-year to $31.5 million.
- Income from operations was $15.8
million, an increase of 40% from $11.3 million for the same quarter of 2018.
- Non-GAAP[1] income
from operations was $19.5 million, an
increase of 25% from $15.6 million
for the same quarter of 2018.
- Net income attributable to Leju Holdings Limited shareholders
was $11.2 million, or $0.08 per diluted American depositary share
("ADS"), an increase of 63% from $6.8
million, or $0.05 per diluted
ADS, for the same quarter of 2018.
- Non-GAAP net income attributable to Leju Holdings Limited
shareholders was $14.1 million, or
$0.10 per diluted ADS, an increase of
37% from $10.3 million, or
$0.08 per diluted ADS, for the same
quarter of 2018.
First Nine Month 2019 Financial Highlights
- Total revenues increased by 38% year-on-year to $465.8 million.
- Revenues from e-commerce services increased by 52% year-on-year
to $362.6 million.
- Revenues from online advertising services increased by 4%
year-on-year to $101.8 million.
- Income from operations was $8.7
million, compared to loss from operations of $10.2 million for the same period of 2018.
- Non-GAAP income from operations was $19.9 million, an increase of 611% from
$2.8 million for the same period of
2018.
- Net income attributable to Leju Holdings Limited shareholders
was $7.0 million, or $0.05 per diluted ADS, compared to net loss
attributable to Leju Holdings Limited shareholders of $14.9 million, or $0.11 loss per diluted ADS for the same period of
2018.
- Non-GAAP net income attributable to Leju Holdings Limited
shareholders was $15.9 million, or
$0.12 per diluted ADS, compared to
non-GAAP net loss attributable to Leju Holdings Limited
shareholders of $4.4 million, or
$0.03 loss per diluted ADS for the
same period of 2018.
[1] Leju
uses in this press release the following non-GAAP financial
measures: (1) income (loss) from operations, (2) net income (loss),
(3) net income (loss) attributable to Leju shareholders, (4) net
income (loss) attributable to Leju shareholders per basic ADS, and
(5) net income (loss) attributable to Leju shareholders per diluted
ADS, each of which excludes share-based compensation expense,
amortization of intangible assets resulting from business
acquisitions and income tax impact on the share-based compensation
expense, amortization of intangible assets resulting from business
combinations. See "About Non-GAAP Financial Measures" and
"Unaudited Reconciliation of GAAP and Non-GAAP Results" below
for more information about the non-GAAP financial measures included
in this press release.
|
"We are pleased that our revenue reached a record high in the
third quarter," said Mr. Geoffrey
He, Leju's chief executive officer. "Since the second half
of this year, increasing demand for marketing services from
developers as a result of added pressure to reduce inventories has
driven significant growth in our new e-commerce business. Leju's
top-down strategy has allowed us to seize market opportunities,
expand our customer base and increase the average number of
projects under cooperation per customer, all of which provide a
solid foundation to grow our project pipeline for the fourth quarter and next year. In
addition, in the third quarter, our profit remained stable with
continued positive cash inflow generated from operations. In the
fourth quarter, Leju will hold our annual gala awards ceremony for
China's property industry,
which will help to further
enhance our media influence and
customer relationships. "
Third Quarter 2019 Results
Total revenues were $185.4 million, an increase of 39% from
$133.6 million for the same quarter
of 2018, mainly due to an increase in revenues from e-commerce
services.
Revenues from e-commerce services were
$153.4 million, an increase of 58%
from $96.9 million for the same
quarter of 2018, primarily due to an increase in the number of
discount coupons redeemed, partially offset by a decrease in the
average price per discount coupon redeemed.
Revenues from online advertising services were
$31.5 million, a decrease of 13% from
$36.0 million for the same quarter of
2018, primarily due to a decrease in property developers' demand
for online advertising.
Revenues from listing services were
$0.5 million, a decrease of 34% from
$0.8 million for the same quarter of
2018, primarily due to a decrease in secondary real estate brokers'
demand.
Cost of revenues was $13.2 million, a decrease of 22% from
$16.9 million for the same quarter of
2018, primarily due to decreased cost of advertising resources
purchased from media platforms related to the Company's online
advertising business.
Selling, general and administrative
expenses were $157.0
million, an increase of 48% from $106.2 million for the same quarter of 2018,
primarily due to increased marketing expenses related to the
Company's e-commerce business.
Income from operations was $15.8 million, an increase of 40% from
$11.3 million for the same
quarter of 2018. Non-GAAP income from
operations was $19.5
million, an increase of 25% from $15.6 million for the same quarter of 2018.
Net income was $11.3
million, an increase of 54% from $7.3 million for the same quarter of 2018.
Non-GAAP net income was $14.2
million, an increase of 32% from $10.8 million for the same quarter of
2018.
Net income attributable to Leju Holdings Limited
shareholders was $11.2
million, or $0.08 per diluted
ADS, an increase of 63% from $6.8 million, or $0.05 per diluted ADS, for the same quarter of
2018. Non-GAAP net income attributable to Leju Holdings
Limited shareholders was $14.1
million, or $0.10 per diluted
ADS, an increase of 37% from $10.3 million, or $0.08 per diluted ADS, for the same quarter of
2018.
First Nine Month 2019 Results
Total revenues were $465.8 million, an increase of 38% from
$337.8 million for the same period of
2018, mainly due to an increase in revenues from e-commerce
services.
Revenues from e-commerce services were
$362.6 million, an increase of 52%
from $237.9 million for the same
period of 2018, primarily due to an increase in the number of
discount coupons redeemed, partially offset by a decrease in the
average price per discount coupon redeemed.
Revenues from online advertising services were
$101.8 million, an increase of 4%
from $97.5 million for the same
period of 2018, primarily due to an increase in property
developers' demand for online advertising in the first half of
2019.
Revenues from listing services were
$1.4 million, a decrease of 44% from
$2.4 million for the same period of
2018, primarily due to a decrease in secondary real estate brokers'
demand.
Cost of revenues was $55.1 million, an increase of 2% from
$54.0 million for the same period of
2018, primarily due to increased cost of advertising resources
purchased from media platforms related to the Company's online
advertising business in the first half of 2019.
Selling, general and administrative
expenses were $403.0
million, an increase of 36% from $296.1 million for the same period of 2018,
primarily due to increased marketing expenses related to the
Company's e-commerce business.
Income from operations was $8.7 million, compared to loss from operations of
$10.2 million for the same period of
2018. Non-GAAP income from operations was
$19.9 million, an increase of 611%
from $2.8 million for the same period
of 2018.
Net income was $7.4
million, compared to net loss of $15.0 million for the same period of 2018.
Non-GAAP net income was $16.2
million, compared to non-GAAP net loss of $4.4 million for the same period of 2018.
Net income attributable to Leju Holdings
Limited shareholders was $7.0
million, or $0.05 per diluted
ADS, compared to net loss attributable to Leju Holdings
Limited shareholders of $14.9
million, or $0.11 loss per
diluted ADS for the same period of 2018. Non-GAAP net income
attributable to Leju Holdings Limited shareholders was
$15.9 million, or $0.12 per diluted ADS, compared to non-GAAP net
loss attributable to Leju Holdings Limited shareholders of
$4.4 million, or $0.03 loss per diluted ADS for the same period of
2018.
Cash Flow
As of September 30, 2019, the
Company's cash and cash equivalents balance was $171.0 million.
Third quarter 2019 net cash provided by operating
activities was $10.9 million,
primarily comprised of non-GAAP net income of $14.2 million, an increase in accrued marketing
and advertising expenses and other current liabilities of
$21.1 million, an increase in advance
from customer of $6.0 million, and an
increase in income tax payable and other tax payable of 4.7
million, partially offset by an increase in accounts receivable and
contract assets of $18.4 million, and
an increase in customer deposits of $18.2
million.
Business Outlook
The Company estimates that its total revenues for the fourth
quarter of 2019 will be approximately $200
million to $210 million, which
would represent an increase of approximately 61% to 69% from
$124.2 million in the same quarter in
2018. This forecast reflects the Company's current and preliminary
view, which is subject to change.
Leju to Hold Annual General Meeting on December 20, 2019
Leju announced that it will hold its annual general meeting of
shareholders (the "AGM") at Room 1120, 11/F, Yinli Building, No.
383 Guangyan Road, Shanghai, the People's
Republic of China on December 20,
2019 at 10:00AM (local time).
No proposal will be submitted to shareholders for approval at the
AGM. Instead, the AGM will serve as an open forum for shareholders
and holders of the Company's ADSs to discuss Company affairs with
management.
Holders of record of the Company's ordinary shares at the close
of business on December 2, 2019 (Eastern
Daylight Time) are entitled to receive notice of and attend
the annual general meeting or any adjournment or postponement
thereof. Holders of the Company's ADSs are welcome to attend the
AGM in person.
The notice of the annual general meeting is available on the
Company's website at http://ir.leju.com.
Conference Call Information
Leju's management will host an earnings conference call on
November 25, 2019 at 7 a.m. U.S. Eastern Time (8 p.m. Beijing/Hong
Kong time).
Dial-in details for the earnings conference call are as
follows:
U.S./International:
|
+1-845-675-0437
|
Hong Kong:
|
+852-3018-6771
|
Mainland China:
|
400-620-8038
|
Please dial in 10 minutes before the call is scheduled to begin
and provide the passcode to join the call. The passcode is "Leju
earnings call".
A replay of the conference call may be accessed by phone at the
following number until December 3,
2019:
U.S./International:
|
+1-855-452-5696
|
Hong Kong:
|
800-963-117
|
Mainland China:
|
400-632-2162
|
Passcode:
|
8377206
|
Additionally, a live and archived webcast will be available at
http://ir.leju.com.
About Leju
Leju Holdings Limited ("Leju") (NYSE: LEJU) is a leading
e-commerce and online media platform for real estate and home
furnishing industries in China,
offering real estate e-commerce, online advertising and online
listing services. Leju's integrated online platform comprises
various mobile applications along with local websites covering more
than 380 cities, enhanced by complementary offline services to
facilitate residential property transactions. In addition to the
Company's own websites, Leju operates the real estate and home
furnishing websites of SINA Corporation, and maintains a strategic
partnership with Tencent Holdings
Limited. For more information about Leju, please visit
http://ir.leju.com.
Safe Harbor: Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in 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," "target,"
"going forward," "outlook" and similar statements. Leju may also
make written or oral forward-looking statements in its reports
filed or furnished with 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. Statements that
are not historical facts, including statements about Leju's beliefs
and expectations, are forward-looking statements that involve
inherent risks and uncertainties. A number of important factors
could cause actual results to differ materially from those
contained, either expressly or impliedly, in any of the
forward-looking statements. Such factors include, but are not
limited to, fluctuations in China's real estate market;
the highly regulated nature of, and government measures affecting,
the real estate and internet industries in China; Leju's
ability to compete successfully against current and future
competitors; its ability to continue to develop and expand its
content, service offerings and features, and to develop or
incorporate the technologies that support them; its limited
operating history and lack of experience as a stand-alone public
company, given its carve-out from E-House and prior reliance on
E-House for various corporate services; its reliance on SINA and
others with which it has developed, or may develop in the future,
strategic partnerships; substantial revenue contribution from a
limited number of real estate markets; complexities resulting from
its ongoing relationships with E-House, due to E-House's status as
a principal shareholder of Leju; and relevant government policies
and regulations relating to the corporate structure, business and
industry of Leju. 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 the Company does not undertake any
obligation to update any forward-looking statement as a result of
new information, future events or otherwise, except as required
under applicable law.
About Non-GAAP Financial Measures
To supplement Leju's consolidated financial results presented in
accordance with United States Generally Accepted Accounting
Principles ("GAAP"), Leju uses in this press release the following
non-GAAP financial measures: (1) income (loss) from operations, (2)
net income (loss), (3) net income (loss) attributable to Leju
shareholders, (4) net income (loss) attributable to Leju
shareholders per basic ADS, and (5) net income (loss) attributable
to Leju shareholders per diluted ADS, each of which excludes
share-based compensation expense, amortization of intangible assets
resulting from business acquisitions, and income tax impact on the
share-based compensation expense and amortization of intangible
assets resulting from business combinations. 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 GAAP. For more
information on these non-GAAP financial measures, please see the
table captioned "Unaudited Reconciliation of GAAP and Non-GAAP
Results" set forth at the end of this press release.
Leju believes that these non-GAAP financial measures provide
meaningful supplemental information to investors regarding its
operating performance by excluding share-based compensation expense
and amortization of intangible assets resulting from business
acquisitions, which may not be indicative of Leju's operating
performance. These non-GAAP financial measures also facilitate
management's internal comparisons to Leju's historical performance
and assist its financial and operational decision making. A
limitation of using these non-GAAP financial measures is that
share-based compensation expense and amortization of intangible
assets resulting from business acquisitions may continue to exist
in Leju's business for the foreseeable future. Management
compensates for these limitations by providing specific information
regarding the GAAP amounts excluded from each non-GAAP measure. The
accompanying tables provide more details on the reconciliation
between non-GAAP financial measures and their most comparable GAAP
financial measures.
For investor and media inquiries please contact:
Ms. Christina Wu
Leju Holdings Limited
Phone: +86 (10) 5895-1062
E-mail: ir@leju.com
Philip Lisio
Foote Group
Phone: +86 135-0116-6560
E-mail: phil@thefootegroup.com
LEJU HOLDINGS
LIMITED
|
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
|
(In thousands of
U.S. dollars)
|
|
|
|
|
|
|
|
December
31,
|
|
September
30,
|
|
|
2018
|
|
2019
|
ASSETS
|
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
147,263
|
|
|
|
171,014
|
|
Accounts receivable,
net
|
|
|
102,697
|
|
|
|
134,034
|
|
Contract
assets
|
|
|
2,137
|
|
|
|
8,400
|
|
Marketable
securities
|
|
|
2,467
|
|
|
|
3,414
|
|
Prepaid expenses and
other current assets
|
|
|
8,621
|
|
|
|
7,100
|
|
Customer
deposits
|
|
|
10,672
|
|
|
|
27,610
|
|
Amounts due from
related parties
|
|
|
6,695
|
|
|
|
9,483
|
|
Total current
assets
|
|
|
280,552
|
|
|
|
361,055
|
|
Property and
equipment, net
|
|
|
14,058
|
|
|
|
17,968
|
|
Intangible assets,
net
|
|
|
57,401
|
|
|
|
48,503
|
|
Right-of-use
assets[2]
|
|
|
—
|
|
|
|
27,624
|
|
Investment in
affiliates
|
|
|
63
|
|
|
|
51
|
|
Deferred tax
assets
|
|
|
62,356
|
|
|
|
60,507
|
|
Other non-current
assets
|
|
|
2,297
|
|
|
|
2,051
|
|
Total
assets
|
|
|
416,727
|
|
|
|
517,759
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
|
803
|
|
|
|
1,715
|
|
Accrued payroll and
welfare expenses
|
|
|
30,628
|
|
|
|
31,943
|
|
Income tax
payable
|
|
|
58,030
|
|
|
|
58,329
|
|
Other tax
payable
|
|
|
12,675
|
|
|
|
18,000
|
|
Amounts due to
related parties
|
|
|
3,477
|
|
|
|
11,399
|
|
Advance from
customers
|
|
|
26,873
|
|
|
|
40,710
|
|
Lease liabilities,
current[2]
|
|
|
—
|
|
|
|
5,238
|
|
Customer deposit
payable
|
|
|
—
|
|
|
|
7,069
|
|
Accrued marketing and
advertising expenses
|
|
|
14,896
|
|
|
|
29,861
|
|
Other current
liabilities
|
|
|
12,999
|
|
|
|
31,465
|
|
Total current
liabilities
|
|
|
160,381
|
|
|
|
235,729
|
|
Lease liabilities,
non-current[2]
|
|
|
—
|
|
|
|
22,725
|
|
Deferred tax
liabilities
|
|
|
14,780
|
|
|
|
14,342
|
|
Total
liabilities
|
|
|
175,161
|
|
|
|
272,796
|
|
Shareholders'
Equity
|
|
|
|
|
|
|
|
|
Ordinary shares
($0.001 par value): 1,000,000,000 shares
authorized, 135,763,962 and 135,770,628 shares issued and
outstanding, as of December 31, 2018 and September 30,
2019, respectively
|
|
|
136
|
|
|
|
136
|
|
Additional paid-in
capital
|
|
|
792,626
|
|
|
|
794,344
|
|
Accumulated
deficit
|
|
|
(528,825)
|
|
|
|
(521,804)
|
|
Accumulated other
comprehensive loss
|
|
|
(19,848)
|
|
|
|
(25,629)
|
|
Total Leju Holdings
Limited shareholders' equity
|
|
|
244,089
|
|
|
|
247,047
|
|
Non-controlling
interests
|
|
|
(2,523)
|
|
|
|
(2,084)
|
|
Total
equity
|
|
|
241,566
|
|
|
|
244,963
|
|
TOTAL LIABILITIES
AND EQUITY
|
|
|
416,727
|
|
|
|
517,759
|
|
|
|
[2] In February
2016, the FASB issued ASU 2016-02, Leases (Topic 842), which
requires lessees to recognize a
right-of-use asset and lease liability on their balance sheet for
all leases with a term of more than 12 months. The Group
adopted this ASU on January 1, 2019 using the modified
retrospective approach and the financial statements for the
comparative period has not been restated.
|
LEJU HOLDINGS
LIMITED
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
|
(In thousands of
U.S. dollars, except share data and per share data)
|
|
|
|
Three months
ended
|
|
Nine months
ended
|
|
|
September
30,
|
|
September
30,
|
|
|
2018
|
|
2019
|
|
2018
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
E-commerce
|
|
|
96,853
|
|
|
|
153,428
|
|
|
|
237,894
|
|
|
|
362,642
|
|
Online advertising
services
|
|
|
35,968
|
|
|
|
31,466
|
|
|
|
97,459
|
|
|
|
101,798
|
|
Listing
services
|
|
|
767
|
|
|
|
505
|
|
|
|
2,434
|
|
|
|
1,357
|
|
Total
revenues
|
|
|
133,588
|
|
|
|
185,399
|
|
|
|
337,787
|
|
|
|
465,797
|
|
Cost of
revenues
|
|
|
(16,935)
|
|
|
|
(13,237)
|
|
|
|
(54,015)
|
|
|
|
(55,068)
|
|
Selling, general and
administrative expenses
|
|
|
(106,195)
|
|
|
|
(156,977)
|
|
|
|
(296,122)
|
|
|
|
(402,994)
|
|
Other operating
income
|
|
|
850
|
|
|
|
590
|
|
|
|
2,158
|
|
|
|
958
|
|
Income (loss) from
operations
|
|
|
11,308
|
|
|
|
15,775
|
|
|
|
(10,192)
|
|
|
|
8,693
|
|
Interest
income
|
|
|
286
|
|
|
|
315
|
|
|
|
845
|
|
|
|
900
|
|
Interest
expenses
|
|
|
—
|
|
|
|
(858)
|
|
|
|
—
|
|
|
|
(858)
|
|
Other income (loss),
net
|
|
|
(3,897)
|
|
|
|
(191)
|
|
|
|
(6,269)
|
|
|
|
1,102
|
|
Income (loss)
before taxes and loss from equity
in affiliates
|
|
|
7,697
|
|
|
|
15,041
|
|
|
|
(15,616)
|
|
|
|
9,837
|
|
Income tax
benefits/(expenses)
|
|
|
(361)
|
|
|
|
(3,776)
|
|
|
|
732
|
|
|
|
(2,469)
|
|
Income (loss)
before loss from equity in
affiliates
|
|
|
7,336
|
|
|
|
11,265
|
|
|
|
(14,884)
|
|
|
|
7,368
|
|
Income (loss) from
equity in affiliates
|
|
|
(19)
|
|
|
|
15
|
|
|
|
(70)
|
|
|
|
(11)
|
|
Net income
(loss)
|
|
|
7,317
|
|
|
|
11,280
|
|
|
|
(14,954)
|
|
|
|
7,357
|
|
Less: net income
(loss) attributable to
non-controlling interests
|
|
|
473
|
|
|
|
121
|
|
|
|
(52)
|
|
|
|
337
|
|
Income (loss)
attributable to Leju Holdings
Limited shareholders
|
|
|
6,844
|
|
|
|
11,159
|
|
|
|
(14,902)
|
|
|
|
7,020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per
ADS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
0.05
|
|
|
|
0.08
|
|
|
|
(0.11)
|
|
|
|
0.05
|
|
Diluted
|
|
|
0.05
|
|
|
|
0.08
|
|
|
|
(0.11)
|
|
|
|
0.05
|
|
Shares used in
computation of earnings (loss) per
ADS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
135,763,962
|
|
|
|
135,765,158
|
|
|
|
135,763,962
|
|
|
|
135,764,361
|
|
Diluted
|
|
|
135,763,962
|
|
|
|
135,769,998
|
|
|
|
135,763,962
|
|
|
|
135,767,912
|
|
|
|
The conversion of
functional currency Renminbi ("RMB") amounts into reporting
currency USD amounts
is based on the rate of USD1 = RMB7.0729 on September 30, 2019 and
USD1 = RMB6.8569 for the nine
months ended September 30, 2019.
|
LEJU HOLDINGS
LIMITED
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(LOSS)
|
(In
thousands of U.S. dollars)
|
|
|
|
Three months
ended
|
|
|
Nine months
ended
|
|
|
September
30,
|
|
|
September
30,
|
|
|
2018
|
|
2019
|
|
2018
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
|
7,317
|
|
|
|
11,280
|
|
|
|
(14,954)
|
|
|
|
7,357
|
|
Other comprehensive
loss, net of tax of nil
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustment
|
|
|
(3,243)
|
|
|
|
(5,310)
|
|
|
|
(4,016)
|
|
|
|
(5,781)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
income (loss)
|
|
|
4,074
|
|
|
|
5,970
|
|
|
|
(18,970)
|
|
|
|
1,576
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Comprehensive
income attributable to
non-controlling interest
|
|
|
551
|
|
|
|
161
|
|
|
|
71
|
|
|
|
377
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
income (loss) attributable to Leju
Holdings Limited shareholders
|
|
|
3,523
|
|
|
|
5,809
|
|
|
|
(19,041)
|
|
|
|
1,199
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LEJU HOLDINGS
LIMITED
|
Unaudited
Reconciliation of GAAP and Non-GAAP Results
|
(In thousands of
U.S. dollars, except share data and per ADS data)
|
|
|
|
|
|
|
|
Three months
ended
|
|
Nine months
ended
|
|
|
September
30,
|
|
September
30,
|
|
|
2018
|
|
2019
|
|
2018
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP income (loss)
from operations
|
|
|
11,308
|
|
|
|
15,775
|
|
|
(10,192)
|
|
|
8,693
|
|
Share-based
compensation expense
|
|
|
1,098
|
|
|
|
599
|
|
|
3,133
|
|
|
1,770
|
|
Amortization of
intangible assets resulting from business
acquisitions
|
|
|
3,204
|
|
|
|
3,153
|
|
|
9,859
|
|
|
9,459
|
|
Non-GAAP income
from operations
|
|
|
15,610
|
|
|
|
19,527
|
|
|
2,800
|
|
|
19,922
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss)
|
|
|
7,317
|
|
|
|
11,280
|
|
|
(14,954)
|
|
|
7,357
|
|
Share-based
compensation expense
|
|
|
1,098
|
|
|
|
599
|
|
|
3,133
|
|
|
1,770
|
|
Amortization of
intangible assets resulting from business acquisitions
|
|
|
3,204
|
|
|
|
3,153
|
|
|
9,859
|
|
|
9,459
|
|
Income tax
benefit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Deferred[3]
|
|
|
(801)
|
|
|
|
(788)
|
|
|
(2,465)
|
|
|
(2,364)
|
|
Non-GAAP net
income (loss)
|
|
|
10,818
|
|
|
|
14,244
|
|
|
(4,427)
|
|
|
16,222
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to Leju Holdings Limited shareholder
|
|
|
6,844
|
|
|
|
11,159
|
|
|
(14,902)
|
|
|
7,020
|
|
Share-based
compensation expense
(net of
non-controlling interests)
|
|
|
1,094
|
|
|
|
599
|
|
|
3,113
|
|
|
1,770
|
|
Amortization of
intangible assets resulting from business
acquisitions (net of non-controlling
interests)
|
|
|
3,204
|
|
|
|
3,153
|
|
|
9,859
|
|
|
9,459
|
|
Income tax
benefit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Deferred
|
|
|
(801)
|
|
|
|
(788)
|
|
|
(2,465)
|
|
|
(2,364)
|
|
Non-GAAP net
income (loss) attributable to Leju
Holdings Limited shareholders
|
|
|
10,341
|
|
|
|
14,123
|
|
|
(4,395)
|
|
|
15,885
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss) per ADS — basic
|
|
|
0.05
|
|
|
|
0.08
|
|
|
(0.11)
|
|
|
0.05
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss) per ADS — diluted
|
|
|
0.05
|
|
|
|
0.08
|
|
|
(0.11)
|
|
|
0.05
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
(loss) per ADS — basic
|
|
|
0.08
|
|
|
|
0.10
|
|
|
(0.03)
|
|
|
0.12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
(loss) per ADS — diluted
|
|
|
0.08
|
|
|
|
0.10
|
|
|
(0.03)
|
|
|
0.12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
calculating basic GAAP / non-GAAP net
income (loss) attributable to shareholders per
ADS
|
|
|
135,763,962
|
|
|
|
135,765,158
|
|
|
135,763,962
|
|
|
135,764,361
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
calculating diluted GAAP / non-GAAP net
income (loss) attributable to shareholders per
ADS
|
|
|
135,763,962
|
|
|
|
135,769,998
|
|
|
135,763,962
|
|
|
135,767,912
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[3] Amount
represents the realization of deferred tax liabilities recognized
for the temporary difference between the tax
basis of intangible assets recognized from acquisitions and their
reported amounts in the financial statements.
The income tax impact on the share-based compensation expense is
nil.
|
LEJU HOLDINGS
LIMITED
|
SELECTED OPERATING
DATA
|
|
|
|
|
|
|
|
Three months
ended
|
|
Nine months
ended
|
|
|
September
30,
|
|
September
30,
|
|
|
2018
|
|
2019
|
|
2018
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating data for
e-commerce services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of discount
coupons issued to
prospective purchasers (number of
transactions)
|
|
|
31,554
|
|
|
|
73,259
|
|
|
|
109,484
|
|
|
|
167,628
|
|
Number of discount
coupons redeemed (number of
transactions)
|
|
|
30,807
|
|
|
|
51,400
|
|
|
|
65,494
|
|
|
|
107,194
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View original
content:http://www.prnewswire.com/news-releases/leju-reports-third-quarter-2019-results-and-issues-notice-of-annual-general-meeting-300964408.html
SOURCE Leju Holdings Limited