Aurora Mobile Reports Mixed Q2 2024 Financial Results Amid Market Challenges

Aurora Mobile Limited Announces Second Quarter 2024 Unaudited Financial Results By Investing.com

SHENZHEN, China, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Aurora Mobile (NASDAQ:JG) Limited (Aurora Mobile or the Company) (NASDAQ: JG), a leading provider of customer engagement and marketing technology services in China, today announced its unaudited financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, The appropriate description for the performance of this quarter is Riding on the Great Growth Momentum. The reasons for this description are as follows: Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, We have had a great quarter. Our total group revenue grew both quarter-over-quarter and year-over-year with 23% and 8%, respectively. Subscription Services revenues of RMB48.1 million were showing great growth where it grew by 14% quarter-over-quarter and 19% year-over-year, driven by growth in EngageLab business and improvement in ARPU. Value-added services revenues increased by 245% quarter-over-quarter which was due to the 6/18 online shopping festival in Q2 where online advertisers have increased their ads spending. Overall Vertical applications revenues had recorded a great quarter where revenue grew by 16% quarter-over-quarter and 8% year-over-year. This was driven by Financial Risk Management where its revenue grew by 28% quarter-over-quarter and 34% year-over-year fueled by a strong 30% customer number growth. With strong and solid revenue growth while maintaining optimal level of operating expenses, for the quarter ended June 30, 2024, we recorded yet another positive Adjusted EBITDA. This is an historical event where we now have 4 consecutive quarters of positive Adjusted EBITDA. Second Quarter 2024 Financial Results Revenues were RMB79.4 million (US$10.9 million), an increase of 8% from RMB73.3 million in the same quarter of last year, attributable to an 8% increase in revenue from both Developer Services and Vertical Applications. Cost of revenues was RMB26.7 million (US$3.7 million), an increase of 4% from RMB25.6 million in the same quarter of last year. The increase was mainly due to a RMB2.1 million increase in short messaging cost and a RMB0.9 million increase in other direct costs, and offset by a RMB2.4 million decrease in media cost. Gross profit was RMB52.8 million (US$7.3 million), an increase of 11% from RMB47.7 million in the same quarter of last year. Total operating expenses were RMB54.8 million (US$7.5 million), a decrease of 15% from RMB64.1 million in the same quarter of last year. Loss from operations was RMB1.0 million (US$0.1 million), compared with RMB14.8 million in the same quarter of last year. Net Loss was RMB1.3 million (US$0.2 million), compared with RMB23.7 million in the same quarter of last year. Adjusted net loss (non-GAAP) was RMB0.4 million (US$54 thousand), compared with RMB8.9 million in the same quarter of last year. Adjusted EBITDA (non-GAAP) was at positive RMB1.6 million (US$0.2 million) compared with a negative RMB4.6 million for the same quarter of last year. The cash and cash equivalents and restricted cash were RMB92.7 million (US$12.8 million) as of June 30, 2024 compared with RMB115.0 million as of December 31, 2023. Update on Share Repurchase As of June 30, 2024, the Company had repurchased a total of 216,643 ADS, of which 11,626 ADSs, or around US$36.1 thousand were repurchased during the second quarter in 2024. Conference Call The Company will host an earnings conference call on Thursday, August 29, 2024 at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Beijing time on the same day). All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration. Participant Online Registration: https://register.vevent.com/register/BIdc3f18de42e247d3a31f621244e171b9 A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile's website at https://ir.jiguang.cn/. Use of Non-GAAP Financial Measures In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net loss and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net loss as net loss excluding share-based compensation, reduction in force charges and impairment of long-term investments. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, amortization of land use right, income tax expenses/(benefits), share-based compensation, reduction in force charges and impairment of long-term investments. The Company believes that adjusted net loss and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss. The Company believes that adjusted net loss and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net loss and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company's operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company's performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure. Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included 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. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile's strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports 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. Statements that are not historical facts, including but not limited to statements about Aurora Mobile'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: Aurora Mobile's strategies; Aurora Mobile's future business development, financial condition and results of operations; Aurora Mobile's ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; 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 Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law. About Aurora Mobile Limited Founded in 2011, Aurora Mobile is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises' digital transformation. For more information, please visit https://ir.jiguang.cn/. This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2672 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of June 28, 2024.

Aurora Mobile Limited Announces Second Quarter 2024 Unaudited Financial Results

Adjusted EBITDA (non-GAAP) was at positive RMB1.6 million (US$0.2 million), compared with a negative RMB4.6 million for the same quarter last year. Mr. , Chairman and Chief Executive Officer of , commented, "The appropriate description for the performance of this quarter is "Riding on the Great Growth Momentum". The reasons for this description are as follows: Mr. , Chief Financial Officer of , added, "We have had a great quarter. Our total group revenue grew both quarter-over-quarter and year-over-year with 23% and 8%, respectively. Subscription Services revenues of were showing great growth where it grew by 14% quarter-over-quarter and 19% year-over-year, driven by growth in EngageLab business and improvement in ARPU. Value-added services revenues increased by 245% quarter-over-quarter which was due to the 6/18 online shopping festival in Q2 where online advertisers have increased their ads spending. Overall Vertical applications revenues had recorded a great quarter where revenue grew by 16% quarter-over-quarter and 8% year-over-year. This was driven by Financial Risk Management where its revenue grew by 28% quarter-over-quarter and 34% year-over-year fueled by a strong 30% customer number growth. With strong and solid revenue growth while maintaining optimal level of operating expenses, for the quarter ended , we recorded yet another positive Adjusted EBITDA. This is an historical event where we now have 4 consecutive quarters of positive Adjusted EBITDA." All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration. Participant Online Registration: https://register.vevent.com/register/BIdc3f18de42e247d3a31f621244e171b9 A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile's website at https://ir.jiguang.cn/. Use of Non-GAAP Financial Measures In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net loss and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. The Company defines adjusted net loss as net loss excluding share-based compensation, reduction in force charges and impairment of long-term investments. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, amortization of land use right, income tax expenses/(benefits), share-based compensation, reduction in force charges and impairment of long-term investments. The Company believes that adjusted net loss and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss. The Company believes that adjusted net loss and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making. The non-GAAP financial measures are not defined under GAAP and are not presented in accordance with GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net loss and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company's operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest GAAP performance measure, all of which should be considered when evaluating the Company's performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure. Reconciliations of the non-GAAP financial measures to the most comparable GAAP measure are included 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 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. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile's strategic and operational plans, contain forward-looking statements. may also make written or oral forward-looking statements in its reports to the , 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 but not limited to statements about Aurora Mobile'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: Aurora Mobile's strategies; Aurora Mobile's future business development, financial condition and results of operations; Aurora Mobile's ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in 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 . All information provided in this press release and in the attachments is as of the date of the press release, and undertakes no duty to update such information, except as required under applicable law. About Founded in 2011, is a leading provider of customer engagement and marketing technology services in . Since its inception, has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises' digital transformation.

Aurora Mobile Limited Announces Second Quarter 2024 Unaudited Financial Results - Aurora Mobile (NASDAQ:JG)

SHENZHEN, China, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Aurora Mobile Limited ("Aurora Mobile" or the "Company") JG, a leading provider of customer engagement and marketing technology services in China, today announced its unaudited financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Revenues were RMB79.4 million (US$10.9 million), an increase of 8% year-over-year.Cost of revenues was RMB26.7 million (US$3.7 million), an increase of 4% year-over-year.Gross profit was RMB52.8 million (US$7.3 million), an increase of 11% year-over-year.Total operating expenses were RMB54.8 million (US$7.5 million), a decrease of 15% year-over-year.Net loss was RMB1.3 million (US$0.2 million), compared with a net loss of RMB23.7 million for the same quarter last year.Net loss attributable to Aurora Mobile Limited's shareholders was RMB1.0 million (US$0.1 million), compared with a net loss attributable to Aurora Mobile Limited's shareholders of RMB23.0 million for the same quarter last year.Adjusted net loss (non-GAAP) was RMB0.4 million (US$54 thousand), compared with a RMB8.9 million adjusted net loss for the same quarter last year.Adjusted EBITDA (non-GAAP) was at positive RMB1.6 million (US$0.2 million), compared with a negative RMB4.6 million for the same quarter last year. Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, "The appropriate description for the performance of this quarter is "Riding on the Great Growth Momentum". The reasons for this description are as follows: Firstly, continuing the great Q1'2024 momentum, we recorded the 4th consecutive positive Adjusted EBITDA in this quarter. This is an historical achievement for us since IPO in 2018.Secondly, Developer Subscription revenue recorded both a 14% growth quarter-over-quarter and a 19% growth year-over-year.Thirdly, our gross profit recorded good growth for both year-over-year and quarter-over-quarter.Fourthly, our net loss has narrowed by 50% quarter-over-quarter and 95% year-over-year." Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, "We have had a great quarter. Our total group revenue grew both quarter-over-quarter and year-over-year with 23% and 8%, respectively. Subscription Services revenues of RMB48.1 million were showing great growth where it grew by 14% quarter-over-quarter and 19% year-over-year, driven by growth in EngageLab business and improvement in ARPU. Value-added services revenues increased by 245% quarter-over-quarter which was due to the 6/18 online shopping festival in Q2 where online advertisers have increased their ads spending. Overall Vertical applications revenues had recorded a great quarter where revenue grew by 16% quarter-over-quarter and 8% year-over-year. This was driven by Financial Risk Management where its revenue grew by 28% quarter-over-quarter and 34% year-over-year fueled by a strong 30% customer number growth. With strong and solid revenue growth while maintaining optimal level of operating expenses, for the quarter ended June 30, 2024, we recorded yet another positive Adjusted EBITDA. This is an historical event where we now have 4 consecutive quarters of positive Adjusted EBITDA." Second Quarter 2024 Financial Results Revenues were RMB79.4 million (US$10.9 million), an increase of 8% from RMB73.3 million in the same quarter of last year, attributable to an 8% increase in revenue from both Developer Services and Vertical Applications. Cost of revenues was RMB26.7 million (US$3.7 million), an increase of 4% from RMB25.6 million in the same quarter of last year. The increase was mainly due to a RMB2.1 million increase in short messaging cost and a RMB0.9 million increase in other direct costs, and offset by a RMB2.4 million decrease in media cost. Gross profit was RMB52.8 million (US$7.3 million), an increase of 11% from RMB47.7 million in the same quarter of last year. Total operating expenses were RMB54.8 million (US$7.5 million), a decrease of 15% from RMB64.1 million in the same quarter of last year. Research and development expenses were RMB23.7 million (US$3.3 million), a decrease of 22% from RMB30.2 million in the same quarter of last year, mainly due to a RMB4.2 million decrease in personnel costs, a RMB3.4 million decrease in bandwidth cost, and a RMB1.8 million decrease in depreciation expense. The impact is partially offset by a RMB4.0 million increase in cloud cost.Sales and marketing expenses were RMB20.5 million (US$2.8 million), an increase of 2% from RMB20.0 million in the same quarter of last year, mainly due to a RMB0.3 million increase in personnel costs.General and administrative expenses were RMB10.7 million (US$1.5 million), a decrease of 23% from RMB13.9 million in the same quarter of last year, mainly due to a RMB3.3 million decrease in personnel costs. Loss from operations was RMB1.0 million (US$0.1 million), compared with RMB14.8 million in the same quarter of last year. Net Loss was RMB1.3 million (US$0.2 million), compared with RMB23.7 million in the same quarter of last year. Adjusted net loss (non-GAAP) was RMB0.4 million (US$54 thousand), compared with RMB8.9 million in the same quarter of last year. Adjusted EBITDA (non-GAAP) was at positive RMB1.6 million (US$0.2 million) compared with a negative RMB4.6 million for the same quarter of last year. The cash and cash equivalents and restricted cash were RMB92.7 million (US$12.8 million) as of June 30, 2024 compared with RMB115.0 million as of December 31, 2023. Update on Share Repurchase As of June 30, 2024, the Company had repurchased a total of 216,643 ADS, of which 11,626 ADSs, or around US$36.1 thousand were repurchased during the second quarter in 2024. Conference Call The Company will host an earnings conference call on Thursday, August 29, 2024 at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Beijing time on the same day). All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration. Participant Online Registration: https://register.vevent.com/register/BIdc3f18de42e247d3a31f621244e171b9 A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile's website at https://ir.jiguang.cn/. Use of Non-GAAP Financial Measures In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net loss and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net loss as net loss excluding share-based compensation, reduction in force charges and impairment of long-term investments. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, amortization of land use right, income tax expenses/(benefits), share-based compensation, reduction in force charges and impairment of long-term investments. The Company believes that adjusted net loss and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss. The Company believes that adjusted net loss and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net loss and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company's operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company's performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure. Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included 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. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile's strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports 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. Statements that are not historical facts, including but not limited to statements about Aurora Mobile'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: Aurora Mobile's strategies; Aurora Mobile's future business development, financial condition and results of operations; Aurora Mobile's ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; 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 Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law. About Aurora Mobile Limited Founded in 2011, Aurora Mobile is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises' digital transformation. For more information, please visit https://ir.jiguang.cn/. For investor and media inquiries, please contact: Aurora Mobile Limited [email protected] Christensen In China Ms. Xiaoyan Su Phone: +86-10-5900-1548 E-mail: [email protected] In U.S. Ms. Linda Bergkamp Phone: +1-480-614-3004 Email: [email protected] Footnote: This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2672 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of June 28, 2024. AURORA MOBILE LIMITEDUNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS(Amounts in thousands of Renminbi ("RMB") and US dollars ("US$"), except for number of shares and per share data) Three months ended Six months ended June 30, 2023 March 31, 2024 June 30, 2024 June 30, 2023 June 30, 2024 RMB RMB RMB US$ RMB RMB US$ Revenues 73,331 64,524 79,441 10,931 138,764 143,965 19,810 Cost of revenues (25,620) (18,152) (26,670) (3,670) (45,061) (44,822) (6,168)Gross profit 47,711 46,372 52,771 7,261 93,703 99,143 13,642 Operating expenses Research and development (30,243) (22,681) (23,652) (3,255) (61,924) (46,333) (6,376)Sales and marketing (20,009) (17,391) (20,478) (2,818) (38,899) (37,869) (5,211)General and administrative (13,873) (12,932) (10,677) (1,469) (28,146) (23,609) (3,249)Total operating expenses (64,125) (53,004) (54,807) (7,542) (128,969) (107,811) (14,836)Other operating income(1) 1,572 1,579 1,055 145 4,329 2,634 362 Loss from operations (14,842) (5,053) (981) (136) (30,937) (6,034) (832)Foreign exchange (loss)/gain, net (118) (23) 12 2 (93) (11) (2)Interest income 354 2,187 195 27 684 2,382 328 Interest expenses (218) (6) (42) (6) (441) (48) (7)Other (loss)/income (9,086) 15 (20) (3) (8,527) (5) (1)Change in fair value of structured deposits - 23 15 2 13 38 5 Loss before income taxes (23,910) (2,857) (821) (114) (39,301) (3,678) (509)Income tax benefits/(expenses) 179 244 (483) (66) 329 (239) (33)Net loss (23,731) (2,613) (1,304) (180) (38,972) (3,917) (542)Less: net loss attributable to noncontrolling interests and redeemable noncontrolling interests (715) (214) (304) (42) (890) (518) (71)Net loss attributable to Aurora Mobile Limited's shareholders (23,016) (2,399) (1,000) (138) (38,082) (3,399) (471)Net loss per share, for Class A and Class B common shares: Class A and B Common Shares - basic and diluted (0.29) (0.03) (0.01) (0.00) (0.48) (0.04) (0.01)Shares used in net loss per share computation: Class A Common Shares - basic and diluted 62,943,573 62,687,345 62,603,736 62,603,736 62,855,277 62,645,540 62,645,540 Class B Common Shares - basic and diluted 17,000,189 17,000,189 17,000,189 17,000,189 17,000,189 17,000,189 17,000,189 Other comprehensive income Foreign currency translation adjustments 2,787 78 208 29 1,983 286 39 Total other comprehensive income, net of tax 2,787 78 208 29 1,983 286 39 Total comprehensive loss (20,944) (2,535) (1,096) (151) (36,989) (3,631) (503)Less: comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interests (715) (214) (304) (42) (890) (518) (71)Comprehensive loss attributable to Aurora Mobile Limited's shareholders (20,229) (2,321) (792) (109) (36,099) (3,113) (432) (1) Beginning on January 1, 2024 we classified the government grants that are operating in nature as other operating income. Comparative figures were reclassified to conform to this presentation. AURORA MOBILE LIMITEDUNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS(Amounts in thousands of Renminbi ("RMB") and US dollars ("US$")) As of December 31, 2023 June 30, 2024 RMB RMB US$ASSETS Current assets: Cash and cash equivalents 114,521 92,178 12,684 Restricted cash 486 505 69 Accounts receivable 34,344 43,132 5,935 Prepayments and other current assets 20,225 20,796 2,863 Total current assets 169,576 156,611 21,551 Non-current assets: Long-term investments 112,912 113,160 15,571 Property and equipment, net 1,433 1,061 146 Operating lease right-of-use assets 4,081 3,550 488 Intangible assets, net 17,941 15,801 2,174 Goodwill 37,785 37,785 5,199 Deferred tax assets 1,072 580 80 Other non-current assets 5,387 6,517 898 Total non-current assets 180,611 178,454 24,556 Total assets 350,187 335,065 46,107 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term loan - 3,000 413 Accounts payable 21,073 26,639 3,666 Deferred revenue and customer deposits 141,518 135,137 18,595 Operating lease liabilities 4,007 2,767 381 Accrued liabilities and other current liabilities 74,682 60,694 8,352 Total current liabilities 241,280 228,237 31,407 Non-current liabilities: Operating lease liabilities 629 1,004 138 Deferred tax liabilities 3,994 3,643 501 Other non-current liabilities 563 567 78 Total non-current liabilities 5,186 5,214 717 Total liabilities 246,466 233,451 32,124 Shareholders' equity: Common shares 50 50 7 Treasury shares (2,453) (835) (115)Additional paid-in capital 1,045,397 1,045,303 143,838 Accumulated deficit (988,669) (992,068) (136,513)Accumulated other comprehensive income 19,223 19,509 2,685 Total Aurora Mobile Limited's shareholders' equity 73,548 71,959 9,902 Noncontrolling interests 30,173 29,655 4,081 Total shareholders' equity 103,721 101,614 13,983 Total liabilities and shareholders' equity 350,187 335,065 46,107 AURORA MOBILE LIMITEDRECONCILIATION OF GAAP AND NON-GAAP RESULTS(Amounts in thousands of Renminbi ("RMB") and US dollars ("US$")) Three months ended Six months ended June 30, 2023 March 31,2024 June 30, 2024 June 30, 2023 June 30, 2024 RMB RMB RMB US$ RMB RMB US$Reconciliation of Net Loss to Adjusted Net Loss: Net loss (23,731) (2,613) (1,304) (180) (38,972) (3,917) (542)Add: Share-based compensation 4,168 1,268 913 126 7,206 2,181 300 Reduction in force charges 1,051 - - - 1,739 - - Impairment of long-term investment 9,660 - - - 9,660 - - Adjusted net loss (8,852) (1,345) (391) (54) (20,367) (1,736) (242)Reconciliation of Net Loss to Adjusted EBITDA: Net loss (23,731) (2,613) (1,304) (180) (38,972) (3,917) (542)Add: Income tax (benefits)/expenses (179) (244) 483 66 (329) 239 33 Interest expenses 218 6 42 6 441 48 7 Depreciation of property and equipment 1,799 380 371 51 3,985 751 103 Amortization of intangible assets 1,589 1,369 1,115 153 3,195 2,484 342 Amortization of land use right 811 - - - 994 - - EBITDA (19,493) (1,102) 707 96 (30,686) (395) (57)Add: Share-based compensation 4,168 1,268 913 126 7,206 2,181 300 Reduction in force charges 1,051 - - - 1,739 - - Impairment of long-term investment 9,660 - - - 9,660 - - Adjusted EBITDA (4,614) 166 1,620 222 (12,081) 1,786 243 AURORA MOBILE LIMITEDUNAUDITED SAAS BUSINESSES REVENUE(Amounts in thousands of Renminbi ("RMB") and US dollars ("US$")) Three months ended Six months ended June 30, 2023 March 31, 2024 June 30, 2024 June 30, 2023 June 30, 2024 RMB RMB RMB US$ RMB RMB US$ Developer Services 52,072 44,749 56,406 7,762 97,537 101,155 13,920 Subscription 40,526 42,351 48,124 6,622 78,034 90,475 12,450 Value-Added Services 11,546 2,398 8,282 1,140 19,503 10,680 1,470 Vertical Applications 21,259 19,775 23,035 3,169 41,227 42,810 5,890 Total Revenue 73,331 64,524 79,441 10,931 138,764 143,965 19,810 Gross Profits 47,711 46,372 52,771 7,261 93,703 99,143 13,642 Gross Margin 65.1% 71.9% 66.4% 66.4% 67.5% 68.9% 68.9% Market News and Data brought to you by Benzinga APIs