Dada Nexus Limited (NASDAQ: DADA, “Dada” or the “Company”), China’s
leading local on-demand delivery and retail platform, today
announced its unaudited financial results for the second quarter
ended June 30, 2023.
Second Quarter 2023
Highlights
- Total
net revenues in the second quarter were RMB2,810.6
million, an increase of 23.2% year over year from RMB2,281.1
million in the same period of 2022.
- Total
Gross Merchandise Volume (“GMV”) of JDDJ for the twelve
months ended June 30, 2023 was RMB70.8 billion, an increase of
29.8% year over year from RMB54.6 billion in the same period of
2022.
“We are proud to announce our first-ever
positive quarterly non-GAAP net income1,” said Mr. Jeff He,
President of Dada. “The remarkable milestone demonstrates the
competitive viability of our unique business model and a result of
our strategy to pursue high-quality growth. Convinced of the
long-term market potential in the on-demand retail and delivery
industry, we will continue to create sustainable value for all our
stakeholders by deepening our partnership with retailers and brand
owners, optimizing consumer experience, bringing flexible
employment opportunities to riders, and strengthening our strategic
cooperation with JD.com.”
“With consistent strategy and strong execution,
we successfully turned profitable on a non-GAAP basis while
maintaining strong growth momentum,” said Mr. Beck Chen, Chief
Financial Officer of Dada. “In the second quarter, our revenue grew
by over 23% year over year. Meanwhile, our non-GAAP net margin1
improved by over 17 percentage points year over year.”
Second Quarter 2023 Financial
Results
Total net revenues were
RMB2,810.6 million, an increase of 23.2% year over year from
RMB2,281.1 million in the same period of 2022.
|
|
For the three months ended June 30, |
|
|
|
2022 |
|
2023 |
|
|
|
(RMB in thousands) |
|
Net Revenue |
|
|
|
|
|
Dada Now |
|
|
|
|
|
Services |
|
793,844 |
|
965,773 |
|
Sales of goods |
|
21,791 |
|
14,661 |
|
Subtotal |
|
815,635 |
|
980,434 |
|
JDDJ |
|
|
|
|
|
Services note (1) |
|
1,460,612 |
|
1,830,165 |
|
Sales of goods |
|
4,845 |
|
— |
|
Subtotal |
|
1,465,457 |
|
1,830,165 |
|
Total |
|
2,281,092 |
|
2,810,599 |
|
|
|
|
|
|
|
Note:
(1) Includes net revenues from (i) commission
fee, and online advertising and marketing services of RMB897,223
and RMB1,185,197 for the three months ended June 30, 2022 and 2023,
respectively; and (ii) fulfillment services and others of
RMB563,389 and RMB644,968 for the three months ended June 30, 2022
and 2023, respectively.
- Net
revenues generated from Dada Now increased by 20.2% from
RMB815.6 million in the second quarter of 2022 to RMB980.4 million
in the second quarter of 2023, mainly driven by the increases in
order volume of intra-city delivery service to chain
merchants.
- Net
revenues generated from JDDJ increased by 24.9% from
RMB1,465.5 million in the second quarter of 2022 to RMB1,830.2
million in the second quarter of 2023, mainly due to the increase
in GMV. The increase in online marketing services revenue as a
result of the increasing promotional activities launched by brand
owners and retailers also contributed to the increment of the net
revenues generated from JDDJ.
Total costs and expenses were
RMB3,017.8 million, compared with RMB2,909.3 million in the same
quarter of 2022.
-
Operations and support costs were RMB1,716.8
million, compared with RMB1,431.3 million in the same quarter of
2022. The increase was primarily due to (i) an increase in rider
cost as a result of increasing order volume for intra-city delivery
services provided to various chain merchants, and (ii) an increase
in costs for promotional activities.
- Selling
and marketing expenses were RMB1,136.7 million, compared
with RMB1,190.2 million in the same quarter of 2022. The decrease
was primarily due to (i) a decrease in advertising and marketing
expenses, and (ii) a decrease in incentives to JDDJ consumers.
- General
and administrative expenses were RMB56.4 million, compared
with RMB99.9 million in the same quarter of 2022. The decrease was
primarily due to efficient expense control measures and decreased
share-based compensation expenses.
-
Research and development expenses were RMB102.0
million, compared with RMB160.0 million in the same quarter of
2022. The decrease was mainly attributable to the decrease in
research and development personnel cost.
Loss from operations was
RMB197.0 million, compared with RMB608.7 million in the same
quarter of 2022.
Non-GAAP loss from
operations2 was RMB28.6 million, compared
with RMB424.2 million in the same quarter of 2022.
Net loss was RMB158.7 million,
compared with RMB578.8 million in the same period of 2022.
Non-GAAP net
income1 was RMB8.4 million, compared with
a loss of RMB395.6 million in the same period of 2022.
Net loss attributable to ordinary
shareholders of Dada was RMB158.7 million, compared with
RMB578.8 million in the same quarter of 2022.
Non-GAAP net income attributable to
ordinary shareholders of Dada3 was RMB8.4
million, compared with a loss of RMB395.6 million in the same
quarter of 2022.
Basic and diluted net loss per
share was RMB0.15, compared with RMB0.60 for the second
quarter of 2022.
Non-GAAP basic and diluted net income
per share4 was RMB0.01, compared with a
loss of RMB0.41 for the second quarter of 2022.
As of June 30, 2023, the Company had RMB3,945.1
million in cash, cash equivalents, restricted cash and
short-term investments, a decrease from RMB4,370.4 million
as of December 31, 2022.
Environment, Social Responsibility and
Corporate Governance
- At the end of
May, Dada published its 2022 ESG report. The report details Dada’s
ESG commitments and key initiatives featuring shareholders,
employees, users, partners, and the community. Dada continues to
optimize its ESG practices and aims to share its sustainable
development philosophy with the wider public by continuously
enhancing the transparency of its disclosures.
- Dada recently
added a dedicated Rider Care module on the Dada Now Rider Version
App, where riders can find information about rider care events,
exclusive benefits, among others. At the beginning of July, Dada
rolled out Summer Care campaign for the 8th consecutive year,
providing riders with subsidies for working in hot weather,
distributing heat stroke prevention kits, and setting up stations
with medicine boxes, freezers, and other supplies across the
country to enhance riders’ delivery experience.
- Dada has also
extended care to our riders’ family. In May, Dada officially
launched the College Scholarship program, which provides
scholarships to riders’ children who have financial difficulty but
excel academically.
- Hot weather poses challenge for all outdoor workers. In July,
Dada cooperated with merchants and brand owners to set up “Free
Water” stations in cities including Beijing and Shanghai to provide
people exposed to high temperature with free drinking water.
Business Outlook
For the third quarter of 2023, Dada expects
total net revenues to be between RMB2,800 million and RMB3,000
million, representing year-over-year growth of 17.6% to 26.0%. This
outlook is based on information available as of the date of this
press release and reflects the Company's current and preliminary
expectations, which are subject to change in light of various
uncertainties.
Conference Call
The Company will host a conference call to
discuss the earnings at 9:30 p.m. Eastern Time on Tuesday, August
15, 2023 (9:30 a.m. Beijing time on Wednesday, August 16,
2023).
Please register in advance of the conference
using the link provided below and dial in 10 minutes prior to the
call.
PRE-REGISTER LINK:
https://s1.c-conf.com/diamondpass/10032494-tehc6s.html
Upon registration, each participant will receive details for the
conference call, including dial-in numbers, conference call
passcode and a unique access PIN. To join the conference, please
dial the number provided, enter the passcode followed by your PIN,
and you will join the conference.
A telephone replay of the call will be available
after the conclusion of the conference call through August 23,
2023.
Dial-in numbers for the replay are as
follows:
U.S./Canada |
1-855-883-1031 |
Mainland China |
400-1209-216 |
Hong Kong |
800-930-639 |
Replay PIN |
10032494 |
|
|
A live and archived webcast of the conference
call will be available on the Investor Relations section of Dada’s
website at https://ir.imdada.cn/.
Use of Non-GAAP Financial Measures
The Company also uses certain non-GAAP financial
measures in evaluating its business. For example, the Company uses
non-GAAP income/(loss) from operations, non-GAAP operating margin,
non-GAAP net income/(loss), non-GAAP net margin, non-GAAP net
income/(loss) attributable to ordinary shareholders of Dada and
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada per share as supplemental measures to review and assess its
financial and 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. Non-GAAP
income/(loss) from operations is income/(loss) from operations
excluding the impact of share-based compensation expenses and
amortization of intangible assets resulting from business
acquisition. Non-GAAP operating margin is non-GAAP income/(loss)
from operations as a percentage of total net revenues. Non-GAAP net
income/(loss) is net income/(loss) excluding the impact of
share-based compensation expenses, amortization of intangible
assets resulting from business acquisition and tax benefit from
amortization of such intangible assets. Non-GAAP net margin is
non-GAAP net income/(loss) as a percentage of total net revenues.
Non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada is net income/(loss) attributable to ordinary shareholders of
Dada excluding the impact of share-based compensation expenses,
amortization of intangible assets resulting from business
acquisition and tax benefit from amortization of such intangible
assets. Non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada per share is non-GAAP net income/(loss)
attributable to ordinary shareholders of Dada divided by weighted
average number of shares used in calculating net income/(loss) per
share.
The Company presents the non-GAAP financial
measures because they are used by the Company’s management to
evaluate the Company’s financial and operating performance and
formulate business plans. Non-GAAP income/(loss) from operations
and non-GAAP net income/(loss) enable the Company’s management to
assess the Company’s financial and operating results without
considering the impact of share-based compensation expenses,
amortization of intangible assets resulting from business
acquisition and tax benefit from amortization of such intangible
assets. The Company also believes that the use of the non-GAAP
measures facilitates investors’ assessment of the Company’s
financial and operating performance.
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 non-GAAP income/(loss)
from operations, non-GAAP net income/(loss), non-GAAP net
income/(loss) attributable to ordinary shareholders of Dada, and
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada per share is that they do not reflect all items of income and
expense that affect the Company’s operations. Share-based
compensation expenses, amortization of intangible assets resulting
from business acquisition and tax benefit from amortization of such
intangible assets have been and may continue to be incurred in the
Company’s business and is not reflected in the presentation of
non-GAAP income/(loss) from operations, non-GAAP net income/(loss),
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada, and non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada per share. Further, the non-GAAP measures may
differ from the non-GAAP measures used by other companies,
including peer companies, potentially limiting the comparability of
their financial results to the Company’s. In light of the foregoing
limitations, the non-GAAP income/(loss) from operations, non-GAAP
operating margin, non-GAAP net income/(loss), non-GAAP net margin,
non-GAAP net income/(loss) attributable to ordinary shareholders of
Dada and non-GAAP net income/(loss) attributable to ordinary
shareholders of Dada per share for the period should not be
considered in isolation from or as an alternative to income/(loss)
from operations, operating margin, net income/(loss), net margin,
net income/(loss) attributable to ordinary shareholders of Dada and
net income/(loss) attributable to ordinary shareholders of Dada per
share, or other financial measures prepared in accordance with U.S.
GAAP.
The Company compensates for these limitations by
reconciling the non-GAAP financial measures to the nearest U.S.
GAAP performance measures, which should be considered when
evaluating the Company’s performance. For reconciliations of these
non-GAAP financial measures to the most directly comparable GAAP
financial measures, please see the section of the accompanying
tables titled, “Reconciliations of GAAP and Non-GAAP Results.”
Forward-Looking Statements
This press release contains statements that may
constitute “forward-looking” statements pursuant to 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,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to”
and similar statements. Among other things, quotations in this
announcement, contain forward-looking statements. Dada may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the “SEC”),
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 Dada’s beliefs, plans
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: Dada’s strategies; Dada’s future business
development, financial condition and results of operations; Dada’s
ability to maintain its relationship with major strategic
investors; its ability to provide efficient on-demand delivery
services and offer quality on-demand retail experience; its ability
to maintain and enhance the recognition and reputation of its
brands; 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 Dada’s filings with the SEC. All information provided
in this press release is as of the date of this press release, and
Dada does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
About Dada
Dada is a leading platform of local on-demand
retail and delivery in China. It operates JDDJ, one of China’s
largest local on-demand retail platforms for retailers and brand
owners, and Dada Now, a leading local on-demand delivery platform
open to merchants and individual senders across various industries
and product categories. The Company’s two platforms are
inter-connected and mutually beneficial. The Dada Now platform
enables improved delivery experience for participants on the JDDJ
platform through its readily accessible fulfillment solutions and
strong on-demand delivery infrastructure. Meanwhile, the vast
volume of on-demand delivery orders from the JDDJ platform
increases order volume and density for the Dada Now platform.
For more information, please visit https://ir.imdada.cn/.
For investor inquiries, please contact:
Dada Nexus LimitedMs. Caroline DongE-mail: ir@imdada.cn
Christensen
In ChinaMr. Rene VanguestainePhone: +86-178-1749 0483E-mail:
rene.vanguestaine@christensencomms.com
In USMs. Linda BergkampPhone: +1-480-614-3004
E-mail: linda.bergkamp@christensencomms.com
For media inquiries, please
contact:
Dada Nexus Limited E-mail: PR@imdada.cn
Appendix I
DADA NEXUS LIMITED |
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS |
(Amounts in thousands, except share data and otherwise
noted) |
|
|
|
|
|
|
|
|
As of December 31, |
|
As of June 30, |
|
|
|
2022 |
|
2023 |
|
|
|
RMB |
|
RMB |
|
ASSETS |
|
|
|
|
|
Current assets |
|
|
|
|
|
Cash and cash equivalents |
|
1,233,974 |
|
529,255 |
|
Restricted cash |
|
433,895 |
|
394,153 |
|
Short-term investments |
|
2,702,524 |
|
3,021,686 |
|
Accounts receivable |
|
313,502 |
|
402,429 |
|
Inventories, net |
|
8,826 |
|
6,862 |
|
Amount due from related parties |
|
1,060,987 |
|
1,092,767 |
|
Prepayments and other current assets |
|
606,502 |
|
319,007 |
|
Total current assets |
|
6,360,210 |
|
5,766,159 |
|
Non-current assets |
|
|
|
|
|
Property and equipment, net |
|
16,849 |
|
11,095 |
|
Goodwill |
|
957,605 |
|
957,605 |
|
Intangible assets, net |
|
1,665,320 |
|
1,734,412 |
|
Operating lease right-of-use assets |
|
37,592 |
|
24,920 |
|
Other non-current assets |
|
8,223 |
|
8,358 |
|
Total non-current assets |
|
2,685,589 |
|
2,736,390 |
|
|
|
|
|
|
|
TOTAL ASSETS |
|
9,045,799 |
|
8,502,549 |
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
Current liabilities |
|
|
|
|
|
Short-term loan |
|
100,000 |
|
— |
|
Accounts payable |
|
9,791 |
|
10,314 |
|
Payable to riders and drivers |
|
794,320 |
|
684,629 |
|
Amount due to related parties |
|
147,003 |
|
132,079 |
|
Accrued expenses and other current liabilities |
|
931,943 |
|
671,619 |
|
Operating lease liabilities |
|
24,460 |
|
18,092 |
|
Total current liabilities |
|
2,007,517 |
|
1,516,733 |
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
Deferred tax liabilities |
|
21,988 |
|
19,482 |
|
Non-current operating lease liabilities |
|
16,574 |
|
4,999 |
|
Total non-current liabilities |
|
38,562 |
|
24,481 |
|
|
|
|
|
|
|
TOTAL LIABILITIES |
|
2,046,079 |
|
1,541,214 |
|
|
|
|
|
|
|
DADA NEXUS LIMITED |
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(CONTINUED) |
(Amounts in thousands, except share data and otherwise
noted) |
|
|
|
|
|
|
|
|
As of December 31, |
|
As of June 30, |
|
|
|
2022 |
|
|
2023 |
|
|
|
|
RMB |
|
RMB |
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
Ordinary shares (US$0.0001 par value, 2,000,000,000 and
2,000,000,000 shares authorized, 1,079,881,662 and 1,098,809,538
shares issued, 1,021,923,242 and 1,047,404,218 shares outstanding
as of December 31, 2022 and June 30, 2023, respectively) |
|
688 |
|
|
706 |
|
|
Additional paid-in capital |
|
20,599,549 |
|
|
20,939,237 |
|
|
Accumulated deficit |
|
(13,824,234 |
) |
|
(14,333,409 |
) |
|
Accumulated other comprehensive income |
|
223,717 |
|
|
354,801 |
|
|
TOTAL SHAREHOLDERS’ EQUITY |
|
6,999,720 |
|
|
6,961,335 |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
9,045,799 |
|
|
8,502,549 |
|
|
|
|
|
|
|
|
|
|
DADA NEXUS LIMITED |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME (LOSS) |
(Amounts in thousands, except share and per share data and
otherwise noted) |
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
|
|
2022 |
|
|
2023 |
|
|
|
2022 |
|
|
2023 |
|
|
|
|
RMB |
|
RMB |
|
|
RMB |
|
RMB |
|
|
|
|
|
|
|
|
|
|
|
|
Net revenues |
|
2,281,092 |
|
|
2,810,599 |
|
|
|
4,306,413 |
|
|
5,386,099 |
|
|
Costs and expenses |
|
|
|
|
|
|
|
|
|
|
Operations and support |
|
(1,431,286 |
) |
|
(1,716,808 |
) |
|
|
(2,701,559 |
) |
|
(3,154,043 |
) |
|
Selling and marketing |
|
(1,190,244 |
) |
|
(1,136,655 |
) |
|
|
(2,304,708 |
) |
|
(2,453,298 |
) |
|
General and administrative |
|
(99,942 |
) |
|
(56,431 |
) |
|
|
(200,751 |
) |
|
(134,998 |
) |
|
Research and development |
|
(160,038 |
) |
|
(101,964 |
) |
|
|
(324,711 |
) |
|
(230,759 |
) |
|
Other operating expenses |
|
(27,764 |
) |
|
(5,978 |
) |
|
|
(41,802 |
) |
|
(18,926 |
) |
|
Total costs and expenses |
|
(2,909,274 |
) |
|
(3,017,836 |
) |
|
|
(5,573,531 |
) |
|
(5,992,024 |
) |
|
Other operating income |
|
19,462 |
|
|
10,286 |
|
|
|
32,710 |
|
|
22,607 |
|
|
Loss from operations |
|
(608,720 |
) |
|
(196,951 |
) |
|
|
(1,234,408 |
) |
|
(583,318 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Other income/(expenses) |
|
|
|
|
|
|
|
|
|
|
Interest expenses |
|
(1,388 |
) |
|
(356 |
) |
|
|
(2,210 |
) |
|
(807 |
) |
|
Others, net |
|
30,008 |
|
|
37,327 |
|
|
|
51,025 |
|
|
72,444 |
|
|
Total other income |
|
28,620 |
|
|
36,971 |
|
|
|
48,815 |
|
|
71,637 |
|
|
Loss before income tax benefits |
|
(580,100 |
) |
|
(159,980 |
) |
|
|
(1,185,593 |
) |
|
(511,681 |
) |
|
Income tax benefits |
|
1,253 |
|
|
1,253 |
|
|
|
2,506 |
|
|
2,506 |
|
|
Net loss |
|
(578,847 |
) |
|
(158,727 |
) |
|
|
(1,183,087 |
) |
|
(509,175 |
) |
|
Accretion of convertible redeemable preferred shares |
|
— |
|
|
— |
|
|
|
— |
|
|
— |
|
|
Net loss attributable to ordinary shareholders of
Dada |
|
(578,847 |
) |
|
(158,727 |
) |
|
|
(1,183,087 |
) |
|
(509,175 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share |
|
|
|
|
|
|
|
|
|
|
Basic |
|
(0.60 |
) |
|
(0.15 |
) |
|
|
(1.18 |
) |
|
(0.49 |
) |
|
Diluted |
|
(0.60 |
) |
|
(0.15 |
) |
|
|
(1.18 |
) |
|
(0.49 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares used in calculating net loss per
share |
|
|
|
|
|
|
|
|
|
|
Basic |
|
968,860,766 |
|
|
1,041,624,988 |
|
|
|
1,005,163,182 |
|
|
1,032,477,485 |
|
|
Diluted |
|
968,860,766 |
|
|
1,041,624,988 |
|
|
|
1,005,163,182 |
|
|
1,032,477,485 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
(578,847 |
) |
|
(158,727 |
) |
|
|
(1,183,087 |
) |
|
(509,175 |
) |
|
Other comprehensive
income/(loss) |
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments |
|
192,576 |
|
|
160,986 |
|
|
|
188,876 |
|
|
131,084 |
|
|
Total comprehensive income/(loss) |
|
(386,271 |
) |
|
2,259 |
|
|
|
(994,211 |
) |
|
(378,091 |
) |
|
DADA NEXUS LIMITED |
Reconciliations of GAAP and Non-GAAP Results |
(Amounts in thousands, except share and per share data and
otherwise noted) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
|
|
2022 |
|
|
2023 |
|
|
|
2022 |
|
|
2023 |
|
|
|
|
RMB |
|
RMB |
|
|
RMB |
|
RMB |
|
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations |
|
(608,720 |
) |
|
(196,951 |
) |
|
|
(1,234,408 |
) |
|
(583,318 |
) |
|
Add: |
|
|
|
|
|
|
|
|
|
|
Share-based compensation expense |
|
55,720 |
|
|
42,220 |
|
|
|
110,732 |
|
|
79,701 |
|
|
Intangible assets amortization |
|
128,753 |
|
|
126,172 |
|
|
|
198,066 |
|
|
258,428 |
|
|
Non-GAAP loss from
operations |
|
(424,247 |
) |
|
(28,559 |
) |
|
|
(925,610 |
) |
|
(245,189 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
(578,847 |
) |
|
(158,727 |
) |
|
|
(1,183,087 |
) |
|
(509,175 |
) |
|
Add: |
|
|
|
|
|
|
|
|
|
|
Share-based compensation expense |
|
55,720 |
|
|
42,220 |
|
|
|
110,732 |
|
|
79,701 |
|
|
Intangible assets amortization |
|
128,753 |
|
|
126,172 |
|
|
|
198,066 |
|
|
258,428 |
|
|
Income tax benefit |
|
(1,253 |
) |
|
(1,253 |
) |
|
|
(2,506 |
) |
|
(2,506 |
) |
|
Non-GAAP net
income/(loss) |
|
(395,627 |
) |
|
8,412 |
|
|
|
(876,795 |
) |
|
(173,552 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Accretion of convertible redeemable preferred shares |
|
— |
|
|
— |
|
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income/(loss) attributable to ordinary shareholders of
Dada |
|
(395,627 |
) |
|
8,412 |
|
|
|
(876,795 |
) |
|
(173,552 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net loss per
share |
|
|
|
|
|
|
|
|
|
|
Basic |
|
(0.41 |
) |
|
0.01 |
|
|
|
(0.87 |
) |
|
(0.17 |
) |
|
Diluted |
|
(0.41 |
) |
|
0.01 |
|
|
|
(0.87 |
) |
|
(0.17 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares
used in calculating net loss per share |
|
|
|
|
|
|
|
|
|
|
Basic |
|
968,860,766 |
|
|
1,041,624,988 |
|
|
|
1,005,163,182 |
|
|
1,032,477,485 |
|
|
Diluted |
|
968,860,766 |
|
|
1,048,165,062 |
|
|
|
1,005,163,182 |
|
|
1,032,477,485 |
|
|
______________________________1 Non-GAAP net income (loss)
represents net income (loss) excluding the impact of share-based
compensation expenses, amortization of intangible assets resulting
from business acquisitions and tax benefit from amortization of
such intangible assets. Non-GAAP net margin equals non-GAAP net
income (loss) divided by total net revenues. 2 Non-GAAP income
(loss) from operations represents income (loss) from operations
excluding the impact of share-based compensation expenses and
amortization of intangible assets resulting from business
acquisition.3 Non-GAAP net income (loss) attributable to ordinary
shareholders of Dada is net income (loss) attributable to ordinary
shareholders of Dada excluding the impact of share-based
compensation expenses, amortization of intangible assets resulting
from business acquisition and tax benefit from amortization of such
intangible assets.4 Non-GAAP net income (loss) per share is
non-GAAP net income (loss) attributable to ordinary shareholders of
Dada divided by weighted average number of shares used in
calculating net loss per share.
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