BEIJING, April 12, 2022 /PRNewswire/ -- Jianpu
Technology Inc. ("Jianpu," or the "Company") (NYSE: JT), a
leading independent open platform for discovery and recommendation
of financial products in China,
today announced its unaudited financial results for the six months
and fiscal year ended December 31,
2021.
Second six months 2021 Operational and Financial
Highlights:
- The credit card volume and number of domestic loan applications
for recommendation services respectively increased by 75.0% to
approximately 2.1 million and 118.4% to approximately 8.3 million
in the second six months of 2021. As a result, total revenues of
recommendation services for the second six months of 2021 resumed
growth, increasing by 71.4% to RMB320.3
million (US$50.3 million) from
RMB186.9 million in the same period
of 2020.
- Revenues from big data and system-based risk management
services decreased by 10.4% to RMB67.3
million (US$10.6 million) in
the second six months of 2021 from RMB75.1
million in the same period of 2020. The number of paying
customers decreased by 27.5% in the second six months of 2021,
compared with the same period of 2020.
- Revenues from advertising and marketing services and other
services increased by 240.6% to RMB73.9
million (US$11.6 million) in
the second six months of 2021 from RMB21.7
million in the same period of 2020. The increase was mainly
attributable to the growth of insurance brokerage services and
initiatives of other new businesses.
- Net loss was RMB108.3 million
(US$17.0 million) in the second six
months of 2021, compared with RMB186.9
million in the second six months of 2020. Net loss margin
was 23.5% in the second six months of 2021, compared with 65.9% in
the same period of 2020.
- Non-GAAP adjusted net loss[1] was RMB96.7 million (US$15.2
million) in the second six months of 2021, compared with
Non-GAAP adjusted net loss of RMB215.1
million in the second six months of 2020. Non-GAAP adjusted
net loss margin[1] was 21.0 % in the second six months
of 2021, compared with 75.8% in the same period of 2020.
Fiscal year 2021 Operational and Financial
Highlights:
- The credit card volume and number of domestic loan applications
for recommendation services respectively increased by 32.1% to
approximately 3.7 million and 94.3% to approximately 13.6 million
in the fiscal year of 2021. As a result, total revenues of
recommendation services for the fiscal year of 2021 resumed growth,
increasing by 42.2% to RMB575.2
million (US$90.3 million) from
RMB404.4 million in the prior
year.
- Revenues from big data and system-based risk management
services decreased by 9.6% to RMB130.4
million (US$20.5 million) in
the fiscal year of 2021 from RMB144.2
million in the prior year. The number of paying customers
decreased by 12.2% in the fiscal year of 2021, compared with the
prior year.
- Revenues from advertising and marketing services and other
services increased by 167.2% to RMB99.4
million (US$15.6 million) in
the fiscal year of 2021 from RMB37.2
million in the prior year. The increase was mainly
attributable to the growth of insurance brokerage services and
initiatives of other new businesses.
- Net loss was RMB204.1 million
(US$32.0 million) in the fiscal year
of 2021, compared with RMB312.1
million in the prior year. Net loss margin was 25.4% in the
fiscal year of 2021, compared with 53.3% in the prior year.
- Non-GAAP adjusted net loss[1] was RMB186.7 million (US$29.3
million) in the fiscal year of 2021, compared with Non-GAAP
adjusted net loss of RMB333.4 million
in the prior year. Non-GAAP adjusted net loss margin[1]
was 23.2% in the fiscal year of 2021, compared with 56.9% in the
prior year.
Mr. David Ye, Co-founder,
Chairman, and Chief Executive Officer of Jianpu, commented, "We are
pleased to announce that we successfully turned our business around
in 2021, with total revenue up 37.4% year-on-year. We managed this
via a more diversified and balanced revenue structure. By
leveraging our integrated marketing capabilities, we have improved
our business efficiency, whilst also expanding our business into
other Non-financial categories. We continued to expand our efforts
in empowering financial institutions' digital transformation, and
now cooperate with 46 banks and have helped the issuance of over 23
million credit cards cumulatively. There were significant client
wins for our big data and system-based risk management services,
and our cost optimization initiatives drove margin improvements
resulting in a narrowing of Non-GAAP adjusted net loss by
44%.
"These results were primarily driven by our experience
navigating through turbulence, our readiness to make changes and
adapt to a dynamic environment, and the effective execution of
strategies and solid technological capabilities. As part of our
vision of "Becoming everyone's financial partner", we are
continuously innovating our technologies and exploring new growth
drivers as we push forth our mission of empowering users and
enabling the digital transformation of financial service providers
to better serve them."
Mr. Oscar Chen, Chief Financial
Officer of Jianpu, said, "Our second-half and full year results
reflect our continuous efforts in business development and
optimization, as we continue to capitalize on the ongoing
digitization of the financial industry. Despite the tightening
macro environment and ongoing pandemic, our business made a
turnaround with second-half total revenue up 62.7% year-on-year to
RMB461.5 million and fiscal year 2021
revenue up 37.4% to RMB805.0
million. As we continue to make solid progress on our
business optimization strategy, our Non-GAAP adjusted net loss
continued to narrow. We are also pursuing new opportunities to
further diversify our business through leveraging our existing
foundation and technologies. The application of omnichannel
marketing solutions towards other adjacent categories have
delivered strong revenue growth. We believe the scalability and
resilience of our business model, as well as our team's capability
to navigate through and adapt to the dynamic environment, will
ultimately drive long-term value to our shareholders."
Second six months 2021 Financial Results
Total revenues for the second six months of 2021
increased by 62.7% to RMB461.5
million (US$72.4 million) from
RMB283.6 million in the same period
of 2020.
Total revenues from recommendation services increased by
71.4% to RMB320.3 million
(US$50.3 million) in the second six
months of 2021 from RMB186.9 million
in the same period of 2020.
Revenues from recommendation
services for credit cards increased by 84.2% to RMB228.0 million (US$35.8
million) in the second six months of 2021 from RMB123.8 million in the same period of 2020.
Credit card volume in the second six months of 2021 and 2020 were
approximately 2.1 million and 1.2 million, respectively. The
average fee per credit card increased to RMB109.9 (US$17.3)
in the second six months of 2021 from RMB106.1 in the same period of 2020.
Revenues from recommendation
services for loans increased by 46.4% to RMB92.4 million (US$14.5
million) in the second six months of 2021 from RMB63.1 million in the same period of 2020,
primarily due to the increase in number of loan applications on our
platform. The number of domestic loan applications on the Company's
platform was approximately 8.3 million in the second six months of
2021, representing an increase of approximately 118.4% from the
same period of 2020. The average fee per domestic loan application
decreased to RMB10.5 (US$1.6) in the second six months of 2021 from
RMB12.7 in the same period of 2020.
The recommendation revenue of loans generated from overseas markets
accounted for 5.4% of total loan recommendation revenues in the
second six months of 2021, less contribution than the same period
of 2020. The global COVID-19 pandemic and the associated inability
to travel globally has negatively impacted our overseas
business.
Revenues from big data and system-based risk management
services decreased by 10.4% to RMB67.3 million (US$10.6
million) in the second six months of 2021 from RMB75.1 million in the same period of 2020,
primarily due to the decrease of the number of paying customers in
the second six months of 2021.
Revenues from advertising and marketing services and other
services increased by 240.6% to RMB73.9
million (US$11.6 million) in
the second six months of 2021 from RMB21.7
million in the same period of 2020, primarily due to the
growth of insurance brokerage services and initiatives of other new
businesses.
Cost of promotion and acquisition[3] increased by 72.5% to RMB334.9 million (US$52.5
million) in the second six months of 2021 from RMB194.2 million in the same period of 2020. The
increase was in line with the growth of our revenue from
recommendation services, advertising and marketing services and
other services.
Cost of operation decreased by 11.4 % to RMB45.1 million (US$7.1
million) in the second six months of 2021 from RMB50.9 million in the same period of 2020. The
decrease was primarily attributable to the decrease in depreciation
expenses, payroll costs and bandwidth and server costs, partially
offset by the increase in data acquisition costs.
Sales and marketing expenses increased by 9.0% to
RMB68.8 million (US$10.8 million) in the second six months of 2021
from RMB63.1 million in the same
period of 2020. The increase was primarily due to the increase in
sales and marketing staff for new businesses.
Research and development expenses decreased by 21.2% to
RMB62.4 million (US$9.8 million) in the second six months of 2021
from RMB79.2 million in the same
period of 2020, primarily due to the continued cost optimization
measures.
General and administrative expenses decreased by 0.4% to
RMB72.2 million (US$11.3 million) in the second six months of 2021
from RMB72.5 million in the same
period of 2020, primarily due to the decrease in professional fees
and allowance for credit losses, partially offset by the increase
in share-based compensation expenses and payroll expenses.
Others, net increased by 137.9% to RMB15.7 million (US$2.5
million) in the second six months of 2021 from RMB6.6 million in the same period of 2020. The
increase was primarily from the realized investment gain of
RMB11.1 million from the investment
in Conflux Global, a decentralized applications blockchain solution
provider.
Net loss was RMB108.3
million (US$17.0 million) in
the second six months of 2021 compared with RMB186.9 million in the same period of
2020. Net loss margin was 23.5% in the second six months of
2021 compared with 65.9% in the same period of 2020.
Non-GAAP adjusted net loss, which excluded share-based
compensation expenses and impairment loss from net loss, was
RMB96.7 million (US$15.2 million) in the second six months of
2021, compared with RMB215.1 million
in the same period of 2020.
Non-GAAP adjusted EBITDA[2], which excluded share-based
compensation expenses, impairment loss, depreciation and
amortization, interest income and expenses, and income tax benefits
from net loss, for the second six months of 2021 was a loss of
RMB94.6 million (US$14.8 million), compared with a loss of
RMB207.4 million in the same period
of 2020.
Fiscal Year 2021 Financial Results
Total revenues for the fiscal year of 2021 increased by
37.4% to RMB805.0 million
(US$126.3 million) from RMB585.8 million in the prior year.
Total revenues from recommendation services increased by
42.2% to RMB575.2 million
(US$90.3 million) in the fiscal year
of 2021 from RMB404.4 million in the
prior year.
Revenues from recommendation
services for credit cards increased by 38.4% to RMB407.8 million (US$64.0
million) in the fiscal year of 2021 from RMB294.6 million in the prior year. Credit card
volume in the fiscal year of 2021 and 2020 were approximately 3.7
million and 2.8 million, respectively. The average fee per credit
card increased to RMB109.8
(US$17.2) in the fiscal year of 2021
from RMB106.8 in the prior year.
Revenues from recommendation
services for loans increased by 52.6% to RMB167.5 million (US$26.3
million) in the fiscal year of 2021 from RMB109.8 million in the prior year, primarily due
to the increase in number of loan applications on our platform. The
number of domestic loan applications on the Company's platform was
approximately 13.6 million in the fiscal year of 2021, representing
an increase of approximately 94.3% from fiscal year 2020. The
average fee per domestic loan application decreased to RMB11.4 (US$1.8) in
the fiscal year of 2021 from RMB13.3
in the prior year. The recommendation revenue of loans generated
from overseas markets was 7.6% of total loan recommendation
revenues in the fiscal year of 2021, less contribution than prior
year. The global COVID-19 pandemic and the associated inability to
travel globally has negatively impacted our overseas business.
Revenues from big data and system-based risk management
services decreased by 9.6% to RMB130.4 million (US$20.5
million) in the fiscal year of 2021 from RMB144.2 million in the prior year, primarily due
to the decrease of the number of paying customers in the fiscal
year of 2021.
Revenues from advertising and marketing services and other
services increased by 167.2% to RMB99.4
million (US$15.6 million) in
the fiscal year of 2021 from RMB37.2
million in the prior year, primarily due to the growth of
insurance brokerage services and initiatives of other new
businesses.
Cost of promotion and acquisition[3] increased by 48.2% to RMB562.1 million (US$88.2
million) in the fiscal year of 2021 from RMB379.4 million in the prior year. The increase
was primarily in line with the growth of our revenue from
recommendation services, advertising and marketing services and
other services.
Cost of operation decreased by 4.2% to RMB88.0 million (US$13.8
million) in the fiscal year of 2021 from RMB91.9 million in the prior year. The decrease
was primarily attributable to the decrease in depreciation
expenses, and bandwidth and server costs, partially offset by the
increase in data acquisition costs.
Sales and marketing expenses increased by 11.6% to
RMB143.5 million (US$22.5 million) in the fiscal year of 2021 from
RMB128.6 million in the prior year.
The increase was primarily due to the increase in sales and
marketing staff for new businesses.
Research and development expenses decreased by 14.5% to
RMB132.4 million (US$20.8 million) in the fiscal year of 2021 from
RMB154.8 million in the prior year,
primarily due to the continued cost optimization measures.
General and administrative expenses increased by 0.7% to
RMB137.5 million (US$21.6 million) in the fiscal year of 2021 from
RMB136.6 million in the prior year.
The increase was primarily attributable to the increase in payroll
expenses and share-based compensation expenses, partially offset by
the decrease in professional fees and allowance for credit
losses.
Others, net increased by 417.9% to RMB58.0 million (US$9.1
million) in the fiscal year of 2021 from RMB11.2 million in the prior year. The increase
was primarily from the realized investment gain of RMB51.2 million from the investment in Conflux
Global, a decentralized applications blockchain solution
provider.
Net loss was RMB204.1
million (US$32.0 million) in
the fiscal year of 2021 compared with RMB312.1 million in the prior year. Net loss
margin was 25.4% in the fiscal year of 2021 compared with 53.3% in
the prior year.
Non-GAAP adjusted net loss, which excluded share-based
compensation expenses and impairment loss from net loss, was
RMB186.7 million (US$29.3 million) in the fiscal year of 2021,
compared with RMB333.4 million in the
prior year.
Non-GAAP adjusted EBITDA[2], which excluded share-based
compensation expenses, impairment loss, depreciation and
amortization, interest income and expenses, and income tax benefits
from net loss, for the fiscal year of 2021 was a loss of
RMB179.2 million (US$28.1 million), compared with a loss of
RMB315.8 million in the prior
year.
As of December 31, 2021, the
Company had cash and cash equivalents, time deposits, restricted
cash and time deposits and short-term investment of RMB762.8 million (US$119.7
million), and working capital of approximately RMB424.9 million (US$66.7
million). Compared to as of December
31, 2020, cash and cash equivalents, restricted cash, time
deposits and investment and short-term investment decreased by
RMB233.2 million (US$36.6 million), which was attributable to net
cash used in operating activities.
Conference Call
The Company's management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on
April 12, 2022 (8:00 PM Beijing/Hong Kong Time on April 12, 2022).
Dial-in details for the earnings conference call are as
follows:
United States (toll
free):
|
1-888-346-8982
|
International:
|
1-412-902-4272
|
Hong Kong, China
(toll free):
|
800-905-945
|
Hong Kong,
China:
|
852-3018-4992
|
Mainland
China:
|
400-120-1203
|
Participants should dial-in at least 5 minutes before the
scheduled start time and ask to be connected to the call for
"Jianpu Technology Inc."
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website
at http://ir.jianpu.ai.
A replay of the conference call will be accessible approximately
one hour after the conclusion of the live call until April 19, 2022, by dialing the following
telephone numbers:
United States (toll
free):
|
1-877-344-7529
|
International:
|
1-412-317-0088
|
Replay Access
Code:
|
4921177
|
About Jianpu Technology Inc.
Jianpu Technology Inc. is a leading independent open platform
for discovery and recommendation of financial products in
China. The company connects users
with financial service providers in a convenient, efficient, and
secure way. By leveraging its proprietary technology, Jianpu
provides users with customized search results and recommendations
tailored to each user's particular financial needs and profile. The
Company also enables financial service providers with sales and
marketing solutions to reach and serve their target customers more
effectively through integrated channels and enhance their
competitiveness by providing them with tailored data, risk
management services and solutions. The Company is committed to
maintaining an independent open platform, which allows it to serve
the needs of users and financial service providers impartially. For
more information, please visit http://ir.jianpu.ai.
Use of Non-GAAP Financial Measures
The Company uses adjusted EBITDA and adjusted net (loss)/income,
each a Non-GAAP financial measure, in evaluating our operating
results and for financial and operational decision-making
purposes.
The Company believes that adjusted EBITDA and adjusted net
(loss)/income help identify underlying trends in our business that
could otherwise be distorted by the effect of the expenses and
gains that the Company include in (loss)/income from operations and
net (loss)/income. The Company believes that adjusted EBITDA and
adjusted net (loss)/income provide useful information about our
operating results, enhance the overall understanding of our past
performance and future prospects and allow for greater visibility
with respect to key metrics used by our management in its financial
and operational decision-making.
Adjusted EBITDA and adjusted net (loss)/income should not be
considered in isolation or construed as alternatives to net
(loss)/income or any other measure of performance or as indicators
of our operating performance. Investors are encouraged to review
the historical Non-GAAP financial measures to the most directly
comparable GAAP measures. Adjusted EBITDA and adjusted net
(loss)/income presented here may not be comparable to similarly
titled measures presented by other companies. Other companies may
calculate similarly titled measures differently, limiting their
usefulness as comparative measures to our data. The Company
encourages investors and others to review its financial information
in its entirety and not rely on a single financial measure.
Adjusted EBITDA represents EBITDA before share-based
compensation expenses and impairment loss. EBITDA represents net
(loss)/income before interest, tax, depreciation and
amortization.
Adjusted net (loss)/income represents net (loss)/income before
share-based compensation expenses and impairment loss.
For more information on this Non-GAAP financial measure, please
see the table captioned "Unaudited Reconciliations of GAAP and
Non-GAAP results" set forth at the end of this press release.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
Statements that are not historical facts, including statements
about the Company's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company's goals and strategies; the Company's future business
development, financial condition and results of operations; the
Company's expectations regarding demand for, and market acceptance
of, its solutions and services; the Company's expectations
regarding keeping and strengthening its relationships with users,
financial service providers and other parties it collaborates with;
trends, competition and regulatory policies relating to the
industries the Company operates in; 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
the Company's filings with the SEC. All information provided in
this press release and in the attachments is as of the date of this
press release, and the Company undertakes no obligation to update
any forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please contact:
In China:
Jianpu Technology Inc.
(IR)Oscar Chen, E-mail:
IR@rong360.com
(PR)Amanda Hu, E-mail:
Media@rong360.com
Tel: +86 (10) 6242 7068
Christensen Advisory
Suri Cheng, E-mail:
scheng@christensenir.com
Tel: +86 185 0060 8364
Anthony Cheong, E-mail:
acheong@christensenir.com
Tel: +852 2232 3922
In US:
Christensen Advisory
Linda Bergkamp, E-mail:
lbergkamp@christensenir.com
Tel: +1 480 353 6648
Jianpu Technology
Inc.
|
Unaudited
Condensed Consolidated Balance Sheets
|
|
(In thousands
except for number of shares and per
share data)
|
As of December 31,
|
2020
|
2021
|
2021
|
RMB
|
RMB
|
US$
|
|
|
|
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
549,979
|
444,933
|
69,820
|
Time
deposits
|
-
|
10,000
|
1,569
|
Restricted cash, time
deposits and investment
|
391,425
|
234,601
|
36,814
|
Short-term investment
|
20,000
|
35,950
|
5,642
|
Accounts receivable, net (including amounts
billed through related party of nil and RMB4,359 as
of December 31,2020 and December 31, 2021,
respectively)
|
240,124
|
175,165
|
27,487
|
Amount due from related parties
|
872
|
140
|
22
|
Prepayments and other current assets
|
66,295
|
53,466
|
8,390
|
Total current
assets
|
1,268,695
|
954,255
|
149,744
|
Non-current
assets:
|
|
-
|
-
|
Property and equipment, net
|
18,114
|
12,617
|
1,980
|
Intangible assets, net
|
25,172
|
21,675
|
3,401
|
Goodwill
|
10,236
|
10,236
|
1,606
|
Restricted cash and time deposits
|
34,581
|
37,266
|
5,848
|
Other non-current assets
|
46,936
|
33,873
|
5,315
|
Total non-current
assets
|
135,039
|
115,667
|
18,150
|
Total
assets
|
1,403,734
|
1,069,922
|
167,894
|
|
|
|
|
LIABILITIES,
MEZZANINE EQUITY AND
SHAREHOLDERS' EQUITY
|
|
|
|
Current
liabilities:
|
|
|
|
Short-term borrowings
|
158,477
|
181,853
|
28,537
|
Accounts payable (including amounts billed
through related party of nil and RMB2,384 as of
December 31,2020 and December 31, 2021,
respectively)
|
185,904
|
103,782
|
16,286
|
Advances from customers
|
54,275
|
47,221
|
7,410
|
Tax payable
|
24,059
|
14,670
|
2,302
|
Amount due to related parties
|
9,495
|
29,270
|
4,593
|
Accrued expenses and other current liabilities
|
220,866
|
152,521
|
23,934
|
Total current
liabilities
|
653,076
|
529,317
|
83,062
|
Non-current
liabilities:
|
|
|
|
Deferred tax liabilities
|
5,146
|
4,549
|
714
|
Other non-current liabilities
|
19,874
|
13,604
|
2,135
|
Total non-current
liabilities
|
25,020
|
18,153
|
2,849
|
Total
liabilities
|
678,096
|
547,470
|
85,911
|
|
|
|
|
|
|
|
|
Mezzanine
equity:
|
|
|
|
Redeemable noncontrolling interest
|
1,455
|
1,689
|
265
|
Shareholders'
equity:
|
|
|
|
Ordinary shares
|
286
|
286
|
45
|
Treasury stock, at cost
|
(88,855)
|
(88,130)
|
(13,830)
|
Additional paid-in capital
|
1,885,951
|
1,902,587
|
298,557
|
Accumulated losses
|
(1,099,934)
|
(1,299,846)
|
(203,974)
|
Statutory reserves
|
1,900
|
2,027
|
318
|
Accumulated other comprehensive income/(loss)
|
1,002
|
(15,419)
|
(2,420)
|
Total Jianpu's
shareholders' equity
|
700,350
|
501,505
|
78,696
|
Noncontrolling interests
|
23,833
|
19,258
|
3,022
|
Total
shareholders' equity
|
724,183
|
520,763
|
81,718
|
Total liabilities,
mezzanine equity and
shareholders' equity
|
1,403,734
|
1,069,922
|
167,894
|
Jianpu Technology
Inc.
|
Unaudited Interim
Condensed Consolidated Statements of Comprehensive
Loss
|
|
(In thousands
except for number of shares and
per
share data)
|
|
For
the Six Months Ended December 31,
|
|
For the Year Ended
December 31,
|
|
2020
|
|
2021
|
|
2021
|
|
2020
|
|
2021
|
|
2021
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
Recommendation
services:
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans[a]
|
|
63,146
|
|
92,389
|
|
14,498
|
|
109,814
|
|
167,483
|
|
26,282
|
Credit
cards
|
|
123,754
|
|
227,955
|
|
35,771
|
|
294,567
|
|
407,759
|
|
63,986
|
Total recommendation
services
|
|
186,900
|
|
320,344
|
|
50,269
|
|
404,381
|
|
575,242
|
|
90,268
|
Big data and
system-based risk management
services[b]
|
|
75,067
|
|
67,302
|
|
10,561
|
|
144,227
|
|
130,408
|
|
20,464
|
Advertising,
marketing and other services[b]
|
|
21,651
|
|
73,856
|
|
11,590
|
|
37,154
|
|
99,397
|
|
15,598
|
Total
revenues
|
|
283,618
|
|
461,502
|
|
72,420
|
|
585,762
|
|
805,047
|
|
126,330
|
Costs and
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of promotion and
acquisition[3]
|
|
(194,227)
|
|
(334,854)
|
|
(52,546)
|
|
(379,380)
|
|
(562,081)
|
|
(88,203)
|
Cost of
operation[c] [3]
|
|
(50,872)
|
|
(45,076)
|
|
(7,073)
|
|
(91,910)
|
|
(88,049)
|
|
(13,817)
|
Total cost of
services
|
|
(245,099)
|
|
(379,930)
|
|
(59,619)
|
|
(471,290)
|
|
(650,130)
|
|
(102,020)
|
Sales and marketing
expenses[d] [3]
|
|
(63,086)
|
|
(68,821)
|
|
(10,800)
|
|
(128,600)
|
|
(143,460)
|
|
(22,512)
|
Research and
development expenses[d]
|
|
(79,210)
|
|
(62,367)
|
|
(9,787)
|
|
(154,775)
|
|
(132,427)
|
|
(20,781)
|
General and
administrative expenses
|
|
(72,455)
|
|
(72,200)
|
|
(11,330)
|
|
(136,581)
|
|
(137,533)
|
|
(21,582)
|
Impairment
loss
|
|
(16,893)
|
|
-
|
|
-
|
|
(16,893)
|
|
-
|
|
-
|
Loss from
operations
|
|
(193,125)
|
|
(121,816)
|
|
(19,116)
|
|
(322,377)
|
|
(258,503)
|
|
(40,565)
|
Net interest
expenses
|
|
(1,438)
|
|
(2,422)
|
|
(380)
|
|
(2,290)
|
|
(4,193)
|
|
(658)
|
Others,
net
|
|
6,557
|
|
15,697
|
|
2,463
|
|
11,238
|
|
58,020
|
|
9,105
|
Loss before income
tax
|
|
(188,006)
|
|
(108,541)
|
|
(17,033)
|
|
(313,429)
|
|
(204,676)
|
|
(32,118)
|
Income tax
benefits
|
|
1,081
|
|
287
|
|
45
|
|
1,283
|
|
582
|
|
91
|
Net
loss
|
|
(186,925)
|
|
(108,254)
|
|
(16,988)
|
|
(312,146)
|
|
(204,094)
|
|
(32,027)
|
Less: net loss
attributable to noncontrolling
interests
|
|
(5,402)
|
|
(2,475)
|
|
(388)
|
|
(7,999)
|
|
(4,309)
|
|
(676)
|
Net loss
attributable to Jianpu's shareholders
|
(181,523)
|
|
(105,779)
|
|
(16,600)
|
|
(304,147)
|
|
(199,785)
|
|
(31,351)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
comprehensive
loss, net
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
|
(63,832)
|
|
(8,888)
|
|
(1,395)
|
|
(52,185)
|
|
(16,453)
|
|
(2,582)
|
Total other
comprehensive loss
|
|
(63,832)
|
|
(8,888)
|
|
(1,395)
|
|
(52,185)
|
|
(16,453)
|
|
(2,582)
|
Total
comprehensive loss
|
|
(250,757)
|
|
(117,142)
|
|
(18,383)
|
|
(364,331)
|
|
(220,547)
|
|
(34,609)
|
Less: total
comprehensive income loss
attributable to noncontrolling
interests
|
|
(6,205)
|
|
(2,588)
|
|
(406)
|
|
(8,878)
|
|
(4,341)
|
|
(681)
|
Total
comprehensive loss attributable to
Jianpu's
shareholders
|
|
(244,552)
|
|
(114,554)
|
|
(17,977)
|
|
(355,453)
|
|
(216,206)
|
|
(33,928)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share
attributable to Jianpu's
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
(0.43)
|
|
(0.25)
|
|
(0.04)
|
|
(0.72)
|
|
(0.47)
|
|
(0.07)
|
Diluted
|
|
(0.43)
|
|
(0.25)
|
|
(0.04)
|
|
(0.72)
|
|
(0.47)
|
|
(0.07)
|
Net loss per
ADS attributable to Jianpu's
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
(8.58)
|
|
(4.99)
|
|
(0.78)
|
|
(14.38)
|
|
(9.43)
|
|
(1.48)
|
Diluted
|
|
(8.58)
|
|
(4.99)
|
|
(0.78)
|
|
(14.38)
|
|
(9.43)
|
|
(1.48)
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
423,096,353
|
|
423,661,496
|
|
423,661,496
|
|
423,096,353
|
|
423,661,496
|
|
423,661,496
|
Diluted
|
|
423,096,353
|
|
423,661,496
|
|
423,661,496
|
|
423,096,353
|
|
423,661,496
|
|
423,661,496
|
|
[a] Including revenues from related party of RMB4,177 and RMB218 for the
six months ended December 31, 2020 and 2021, respectively.
RMB4,757 and RMB488 for the year ended December 31, 2020 and 2021,
respectively.
|
[b] Including revenues from related party of RMB1,910 and RMB1,839
for the
six months ended December 31, 2020 and 2021, respectively.
RMB3,626 and RMB4,282 for the year ended December 31, 2020 and
2021, respectively.
|
[c] Including cost of
operation from related party of nil and RMB511 for the six months ended December 31, 2020 and 2021, respectively.
RMB2,102 and RMB883 for the year ended December 31, 2020 and 2021,
respectively.
|
[d]
Including expenses from related party of RMB1,686 and RMB796 for the
six months ended December 31, 2020 and 2021, respectively.
RMB1,686 and RMB809 for the year ended December 31, 2020 and 2021,
respectively.
|
4 In the
second half year of 2021, in light of the business development, the
Company added a financial statement line item named cost of
promotion and acquisition and reclassified the previous line item
of cost of revenue and sales and marketing expenses. Cost of
promotion and acquisition primarily consists of expenditures
relating to user traffic acquisition and rewards to business
partners for promotion on social network and social media platform,
which are reclassified from sales and marketing expenses, and
marketing costs related to advertising and marketing services
including commissions paid to individual insurance brokers, which
are reclassified from cost of revenue. Cost of operation, post the
reclassification, consists primarily of costs associated with
maintenance of the platform including data acquisition costs,
bandwidth and server hosting costs, call center outsourcing costs,
online payment processing fees, depreciation, payroll and other
related costs of operations. Sales and marketing expenses, post the
reclassification, consist primarily of marketing expenses
relating to marketing activities, payroll costs and related
expenses for employees involved in sales and marketing activities,
and expenses for the portion of call center operations that the
Group outsources. The cost of operation, cost of promotion and
acquisition, and sales and marketing expenses for prior periods and
the year of 2020 have also been retrospectively reclassified. The
amount reclassified from sales and marketing expenses to cost of
promotion and acquisition are RMB177.4 million for the first six
months of 2021, RMB170.1 million for the first six months of 2020
and RMB353.1 million for 2020. The amount reclassified from cost of
revenue to cost of promotion and acquisition are RMB49.8 million
for the first six months of 2021, RMB15.1 million for the first six
months of 2020 and RMB26.3 million for 2020.
|
Jianpu Technology
Inc.
|
Unaudited
Reconciliations of GAAP and Non-GAAP Results
|
|
|
|
For
the Six Months Ended December 31,
|
|
For the Year Ended
December 31,
|
(In thousands
except for number of shares and
per
share data)
|
|
2020
|
|
2021
|
|
2021
|
|
2020
|
|
2021
|
|
2021
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss
|
|
(186,925)
|
|
(108,254)
|
|
(16,988)
|
|
(312,146)
|
|
(204,094)
|
|
(32,027)
|
Add:
Share-based compensation expenses
|
|
(11,238)
|
|
11,523
|
|
1,809
|
|
(4,329)
|
|
17,357
|
|
2,724
|
Impairment
loss
|
|
(16,893)
|
|
-
|
|
-
|
|
(16,893)
|
|
-
|
|
-
|
Non-GAAP adjusted
net loss
|
|
(215,056)
|
|
(96,731)
|
|
(15,179)
|
|
(333,368)
|
|
(186,737)
|
|
(29,303)
|
Add:
Depreciation and amortization
|
|
8,043
|
|
4,271
|
|
670
|
|
18,531
|
|
11,112
|
|
1,744
|
Net interest
expenses
|
|
(1,438)
|
|
(2,422)
|
|
(380)
|
|
(2,290)
|
|
(4,193)
|
|
(658)
|
Income tax
benefits
|
|
1,081
|
|
287
|
|
45
|
|
1,283
|
|
582
|
|
91
|
Non-GAAP
adjusted EBITDA
|
|
(207,370)
|
|
(94,595)
|
|
(14,844)
|
|
(315,844)
|
|
(179,236)
|
|
(28,126)
|
[1]
Non-GAAP adjusted net loss represents net loss before share-based
compensation expenses and impairment loss. There is no income tax
impact of the Non-GAAP adjustment of share-based compensation
expenses and impairment loss. See "Unaudited Reconciliations of
GAAP and Non-GAAP Results" at the end of this press release for
more details about Non-GAAP adjusted net loss. Non-GAAP adjusted
net loss margin equals Non-GAAP adjusted net loss divided by total
revenues.
[2]
Non-GAAP adjusted EBITDA represents EBITDA before share-based
compensation expenses and impairment loss. EBITDA represents net
(loss)/income before interest income and expenses, and income tax
benefits from net loss, depreciation and amortization. See
"Unaudited Reconciliations of GAAP and Non-GAAP Results" for more
details.
[3] In the
second half year of 2021, in light of the business development, the
Company added a financial statement line item named cost of
promotion and acquisition and reclassified the previous line item
of cost of revenue and sales and marketing expenses. Cost of
promotion and acquisition primarily consists of expenditures
relating to user traffic acquisition and rewards to business
partners for promotion on social network and social media platform,
which are reclassified from sales and marketing expenses, and
marketing costs related to advertising and marketing services
including commissions paid to individual insurance brokers, which
are reclassified from cost of revenue. Cost of operation, post the
reclassification, consists primarily of costs associated with
maintenance of the platform including data acquisition costs,
bandwidth and server hosting costs, call center outsourcing costs,
online payment processing fees, depreciation, payroll and other
related costs of operations. Sales and marketing expenses, post the
reclassification, consist primarily of marketing expenses relating
to marketing activities, payroll costs and related expenses for
employees involved in sales and marketing activities, and expenses
for the portion of call center operations that the Group
outsources. The cost of operation, cost of promotion and
acquisition, and sales and marketing expenses for prior periods and
the year of 2020 have also been retrospectively reclassified. The
amount reclassified from sales and marketing expenses to cost of
promotion and acquisition are RMB177.4 million for the first six
months of 2021, RMB170.1 million for the first six months of 2020
and RMB353.1 million for 2020. The amount reclassified from cost of
revenue to cost of promotion and acquisition are RMB49.8 million
for the first six months of 2021, RMB15.1 million for the first six
months of 2020 and RMB26.3 million for 2020.
|
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SOURCE Jianpu Technology Inc.