SHANGHAI, June 3, 2019 /PRNewswire/ -- CooTek (Cayman)
Inc. (NYSE: CTK) ("CooTek" or the "Company"), a fast-growing global
mobile internet company, today reported unaudited financial results
for the first quarter ended March 31,
2019.
First Quarter 2019 Financial Highlights
- Net revenue was US$40.0 million,
an increase of 83% from US$21.9
million during the same period last year.
- Gross profit was US$36.5 million,
an increase of 106% from US$17.7
million during the same period last year. Gross profit
margin was 91.2%, an increase of 10.4% year-over-year.
- Net income was US$0.2 million,
compared to US$1.4 million during the
same period last year.
- Adjusted net income1 (Non-GAAP) was US$1.3 million, compared to adjusted net income
(Non-GAAP) of US$1.7 million during
the same period last year.
First Quarter 2019 Operational Highlights
- The average daily active users ("DAUs") of the Company's global
products2 were 169.0 million in March 2019 compared to 120.3 million in
March 2018, an increase of 40%
year-over-year.
- The average monthly active users ("MAUs") of the Company's
global products2 were 252.1 million in March
2019 compared to 176.0 million in March 2018, an increase of 43%
year-over-year.
- The average DAUs of the Company's portfolio
products3 were 23.1 million in March 2019 compared to 4.6 million in
March 2018, an increase of 402%
year-over-year.
- The average MAUs of the Company's portfolio
products3 were 59.8 million in March 2019 compared to 14.4 million in
March 2018, an increase of 315%
year-over-year.
- The user engagement4 of the Company's portfolio
products in March 2019 was
approximately 39%, compared to approximately 32% in March 2018 and approximately 37% in December 2018.
- The average DAUs of TouchPal Smart Input were 145.9 million in
March 2019 compared to 115.7 million
in March 2018, an increase of 26%
year-over-year.
- The average MAUs of TouchPal Smart Input were 192.3 million in
March 2019 compared to 161.6 million
in March 2018, an increase of 19%
year-over-year.
- The user engagement of TouchPal Smart Input in March 2019 was approximately 76%, compared to
approximately 72% in March 2018 and
approximately 74% in December
2018.
|
Portfolio
Products
|
|
TouchPal Smart
Input
|
|
DAUs
|
MAUs
|
User
Engagement
|
|
DAUs
|
MAUs
|
User
Engagement
|
|
(in millions, except
for the percentages)
|
|
|
Mar' 17
|
0.1
|
0.5
|
20.0%
|
|
61.7
|
96.6
|
63.9%
|
Jun' 17
|
0.3
|
0.8
|
37.5%
|
|
75.3
|
113.8
|
66.2%
|
Sep'17
|
0.7
|
2.3
|
30.4%
|
|
88.7
|
131.6
|
67.4%
|
Dec'17
|
2.9
|
9.4
|
30.9%
|
|
101.9
|
148.2
|
68.8%
|
Mar' 18
|
4.6
|
14.4
|
31.9%
|
|
115.7
|
161.6
|
71.6%
|
Jun' 18
|
7.3
|
22.2
|
32.9%
|
|
125.4
|
171.7
|
73.0%
|
Sep'18
|
11.0
|
33.7
|
32.6%
|
|
132.9
|
180.0
|
73.8%
|
Dec'18
|
16.9
|
46.1
|
36.7%
|
|
140.8
|
190.5
|
73.9%
|
Mar' 19
|
23.1
|
59.8
|
38.6%
|
|
145.9
|
192.3
|
75.9%
|
- Portfolio products continued to be the main driver of
revenue growth, contributing nearly 74% to the total revenue.
1 "Adjusted net
income" (Non-GAAP) is a non-GAAP measure, which is defined as net
income excluding share-based compensation and compensation expense
related to ordinary share repurchase. For further information,
please see "Non-GAAP Financial Measures" and "Reconciliations of
GAAP and non-GAAP results" at the bottom of this
release.
|
2 "global
products" is to the mobile applications that we develop and provide
to our users and business partners, which excludes TouchPal
Phonebook. TouchPal Phonebook targets the Chinese domestic market
and is different from TouchPal Smart Input and portfolio products
that are designed for the global market (including
China).
|
3 "portfolio products" is
to the mobile applications that we develop and provide to our users
and business partners, which exclude TouchPal Smart Input and
TouchPal Phonebook.
|
4 User
engagement is calculated by dividing DAUs by MAUs of certain
products for a certain period.
|
"We had a strong start of the year despite the usual seasonality
of our first quarter," commented Mr. Karl
Zhang, CooTek's Co-Founder and Chairman. "Revenue reached
US$40 million, an increase of 83%
year-over-year as our global user base kept growing fast and DAUs
of our portfolio products reached 23 million in March, a growth of
nearly 37% quarter-over-quarter."
"Our priority at this stage, as we mentioned last quarter, is to
invest to further expand our user base rapidly and to build a solid
growth platform which can drive our long-term success. User growth
during the quarter exceeded our expectations, validating our
strategy. During the quarter, we also made progress in building up
our own ad ecosystem by launching CooTek Ads Platform, our
proprietary ad serving platform." concluded Mr. Zhang.
First Quarter 2019 Financial Results
Net Revenues
(in US$ thousands,
except percentage)
|
1Q
2019
|
|
4Q
2018
|
|
1Q
2018
|
|
QoQ %
Change
|
|
YoY %
Change
|
|
|
|
|
|
|
|
|
|
|
Mobile Advertising
Revenue
|
39,377
|
|
46,487
|
|
20,825
|
|
(15%)
|
|
89%
|
Other
Revenue
|
660
|
|
558
|
|
1,094
|
|
18%
|
|
(40%)
|
Total Net
Revenues
|
40,037
|
|
47,045
|
|
21,919
|
|
(15%)
|
|
83%
|
Net revenues for the first quarter were US$40.0 million, an increase of 83% from
US$21.9 million during the first
quarter of 2018 and a decrease of 15% from US$47.0 million last quarter. The sequential
decrease was primarily due to the seasonality of our mobile
advertising business.
Mobile advertising revenue for the first quarter was
US$39.4 million, an increase of 89%
from US$20.8 million during the first
quarter of 2018 and a decrease of 15% from US$46.5 million last quarter. The year-over-year
increase was primarily due to the rapid growth in the number of
DAUs of portfolio products and improvement of the user
engagement.
Portfolio products accounted for approximately 75%, TouchPal
Smart Input accounted for approximately 18% and TouchPal Phonebook
accounted for approximately 7% of the mobile advertising revenue
for the first quarter of 2019.
Cost and Operating Expenses
|
1Q
2019
|
|
4Q
2018
|
|
1Q
2018
|
|
QoQ %
Change
|
|
YoY %
change
|
(in US$ thousands,
except percentage)
|
US$
|
|
% of
revenue
|
|
US$
|
|
% of
revenue
|
|
US$
|
|
% of
revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
3,541
|
|
8%
|
|
3,487
|
|
7%
|
|
4,210
|
|
19%
|
|
2%
|
|
(16%)
|
Sales and
marketing
|
27,378
|
|
68%
|
|
31,838
|
|
68%
|
|
10,691
|
|
49%
|
|
(14%)
|
|
156%
|
Research and
development
|
6,616
|
|
17%
|
|
5,833
|
|
12%
|
|
3,829
|
|
17%
|
|
13%
|
|
73%
|
General and
administrative
|
2,344
|
|
6%
|
|
3,625
|
|
8%
|
|
1,862
|
|
8%
|
|
(35%)
|
|
26%
|
Other operating
income, net
|
(68)
|
|
(0%)
|
|
(1,526)
|
|
(3%)
|
|
(22)
|
|
0%
|
|
(96%)
|
|
209%
|
Total Cost and
Expenses
|
39,811
|
|
99%
|
|
43,257
|
|
92%
|
|
20,570
|
|
93%
|
|
(8%)
|
|
94%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses by function
|
Cost of
revenues
|
18
|
|
0.0%
|
|
15
|
|
0.0%
|
|
8
|
|
0.0%
|
|
20%
|
|
125%
|
Sales and
marketing
|
59
|
|
0.1%
|
|
55
|
|
0.1%
|
|
7
|
|
0.0%
|
|
7%
|
|
743%
|
Research and
development
|
918
|
|
2.3%
|
|
621
|
|
1.3%
|
|
196
|
|
0.9%
|
|
48%
|
|
368%
|
General and
administrative
|
148
|
|
0.4%
|
|
120
|
|
0.3%
|
|
66
|
|
0.3%
|
|
23%
|
|
124%
|
Total share-based
compensation expense
|
1,143
|
|
2.9%
|
|
811
|
|
1.7%
|
|
277
|
|
1.3%
|
|
41%
|
|
313%
|
Cost of revenues for the first quarter was
US$3.5 million, a decrease of 16%
from US$4.2 million during the same
period last year and a slight 2% increase from US$3.5 million last quarter. The year-over-year
decrease was mainly due to a decrease in VoIP-related expenses as a
result of continuous improvement in telecommunication services
utilization efficiency. The sequential increase was primarily due
to an increase in operational and maintenance expenses as the
Company's businesses expanded.
Gross profit for the first quarter was US$36.5 million, a 106% increase from
US$17.7 million during the same
period last year and a decrease of 16% from US$43.6 million last quarter. Gross
profit margin was 91.2%, compared to 80.8% in the same period
last year and 92.6% last quarter.
Sales and marketing expenses for the first quarter were
US$27.4 million, an increase of 156%
from US$10.7 million during the same
period last year and a decrease of 14% from US$31.8 million last quarter. As a percentage of
total revenue, sales and marketing expenses accounted for 68%
compared with 49% during the same period last year, and was flat
compared with last quarter. The year-on-year increase in sales and
marketing expenses as a percentage of total net revenue was
primarily due to the increased investment in user acquisition.
Research and development expenses for the first
quarter were US$6.6 million, an
increase of 73% from US$3.8 million
during the same period last year and an increase of 13% from
US$5.8 million last quarter. The
year-on-year and sequential increases were primarily due to the
increased cost associated with technology R&D staff. As a
percentage of total net revenue, research and development expenses
accounted for 17%, as compared to 17% during the same period last
year and 12% compared to last quarter.
General and administrative expenses for the first quarter
were US$2.3 million, an increase of
26% from US$1.9 million during the
same period last year and a decrease of 35% from US$3.6 million last quarter. The sequential
decrease was mainly due to a decrease in general and administrative
payroll and professional services and administrative expenses. As a
percentage of total net revenue, general and administrative
expenses accounted for 6%, compared to 8% during the same period
last year and 8% during last quarter.
Other operating income, net for the first quarter
was US$0.07 million, increased from
US$0.02 million during the same
period last year and decreased from US$1.5
million last quarter. It mainly consisted of government
subsidies the Company received.
Net income for the first quarter was US$0.2 million, as compared with US$1.4 million during the same period last year
and to US$3.8 million last
quarter.
Adjusted net income, a non-GAAP financial measure,
represents net income (loss) excluding share-based compensation.
Adjusted net income for the first quarter was US$1.3 million, a decrease of 20% from
US$1.7 million in the same period
last year and a decrease of 72% from US$4.6
million last quarter.
In US$ thousands,
except percentage
|
1Q
2019
|
4Q
2018
|
1Q
2018
|
QoQ %
Change
|
YoY %
change
|
|
|
|
|
|
|
Net income
|
172
|
3,838
|
1,373
|
(96%)
|
(87%)
|
Add: Share-based
Compensation related to share
options and restricted share units
|
1,143
|
811
|
277
|
41%
|
313%
|
Adjusted Net Income
(Non-GAAP)
|
1,315
|
4,649
|
1,650
|
(72%)
|
(20%)
|
Basic and diluted net income per ADS were US$0.003 and US$0.003 in the first quarter of 2019, and basic
and diluted Adjusted Net Income (Non-GAAP) per ADS were
US$0.02 and US$0.02 in this period.
Balance Sheet and Cash Flow
As of March 31, 2019, Cash and
cash equivalents and restricted cash was US$77.3 million compared to US$84.9 million as of December 31, 2018.
Net cash outflow from operating activities during the first
quarter of 2019 was US$3.3 million,
compared to inflow from operations of US$2.6
million for the same period in 2018 and inflow of
US$13.3 million during the last
quarter. The cash outflow from operating activities during the
first quarter of 2019 was the result of better credit terms
extended to customers as part of the Company's initiatives to
expand its advertising business, and the payment of staff annual
bonuses and other accrued expenses by December 31, 2018.
Share Repurchase Plan
On November 26, 2018, the Company
announced a share repurchase program whereby the Company is
authorized to repurchase its own Class A ordinary shares in the
form of ADSs with an aggregate value of up to US$15 million during the 12-month period from
November 30, 2018. As of March 31, 2019, the Company has used an aggregate
of US$5.7 million to repurchase
645,367 ADSs.
Business Outlook
For the second quarter of 2019, CooTek expects total revenue to
be between US$45 million and
US$50 million, representing 58% to
76% increase year-over-year.
Conference Call and Webcast
CooTek's management team will host a conference call at
8:00 AM U.S. Eastern Time on
Monday, June 3, 2019 (8:00 PM Beijing Time on the same day), following
the results announcement.
The dial-in details for the live conference call are:
United States:
1-888-346-8982
Hong Kong: 800-905-945
China: 4001-201-203
International: 1-412-902-4272
Please dial in 15 minutes before the call is scheduled to begin.
When prompted, ask to be connected to the CooTek (Cayman)
Inc. call.
A live webcast and archive of the conference call will be
available on the Investor Relations section of CooTek's website at
https://ir.cootek.com/.
About CooTek (Cayman) Inc.
CooTek is a fast-growing global mobile internet company. The
mission of CooTek is to empower everyone to express themselves and
enjoy relevant content seamlessly. The Company's user-centric and
data-driven approach has enabled it to release appealing products
to capture mobile internet users' ever-evolving content needs and
helps it rapidly attract targeted users. Focusing on 5 verticals of
fitness, lifestyle, healthcare, short videos and entertainment,
CooTek has developed multiple rapidly growing content-rich
portfolio apps with news feed to deliver relevant content.
Non-GAAP Financial Measure
To supplement the unaudited consolidated financial information
prepared in accordance with generally accepted accounting
principles in the United States of
America ("GAAP"), the Company uses non-GAAP financial
measure of adjusted net income (loss) that is adjusted from results
based on GAAP to exclude the impact of share-based compensation,
and Adjusted EBITDA that is net (loss) income excluding interest
income and expense, income taxes, depreciation, and share-based
compensation. The measure should be considered in addition to
results prepared in accordance with GAAP, but should not be
considered a substitute for, or superior to, GAAP results.
The Company believes that the non-GAAP measure help identify
underlying financial and business trends relating to the Company's
results of operations that could otherwise be distorted by the
effect of certain expenses that the Company include in (loss)
income from operations and net (loss) income. By making the
Company's financial results comparable period over period, the
Company believes adjusted net (loss) income and Adjusted EBITDA
provides useful information to better understand the Company's
historical business operations and future prospects and allows for
greater visibility with respect to key metrics used by the
management in financial and operational decision-making. In order
to mitigate these limitations, the Company has provided specific
information regarding the GAAP amounts excluded from the non-GAAP
measure. The table at the bottom of this press release includes
details on the reconciliation between GAAP financial measure that
is most directly comparable to the non-GAAP financial measure the
Company has presented.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. CooTek may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts, including statements about CooTek's
beliefs and expectations, are forward-looking statements that
involve factors, risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Such factors and risks include, but not limited to the
following: CooTek's mission and strategies; future business
development, financial conditions and results of operations; the
expected growth of the mobile internet industry and mobile
advertising industry; the expected growth of mobile advertising;
expectations regarding demand for and market acceptance of our
products and services; competition in mobile application and
advertising industry; and relevant government policies and
regulations relating to the industry. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the U.S. Securities and Exchange Commission.
All information provided in this press release is current as of the
date of the press release, and CooTek does not undertake any
obligation to update such information, except as required under
applicable law.
For investor enquiries, please contact:
CooTek (Cayman) Inc.
Jean Zhang
Email: IR@cootek.com
Christensen
In China
Mr. Christian Arnell
+86-10-5900-1548
carnell@christensenir.com
In US
Ms. Linda Bergkamp
+1-480-614-3004
lbergkamp@christensenir.com
CooTek (Cayman)
INC.
Unaudited
Condensed Consolidated Statement of Operations
(in thousands, except for share and per share data)
|
|
|
|
|
Three Months
Ended
|
|
|
|
March
31,
|
|
December
31,
|
|
March
31,
|
|
|
|
2018
|
|
2018
|
|
2019
|
|
|
|
US$
|
|
US$
|
|
US$
|
|
|
|
|
Net revenues
|
|
21,919
|
|
47,045
|
|
40,037
|
|
Cost of
revenues
|
|
(4,210)
|
|
(3,487)
|
|
(3,541)
|
|
Gross
Profit
|
|
17,709
|
|
43,558
|
|
36,496
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
|
(10,691)
|
|
(31,838)
|
|
(27,378)
|
|
Research and
development expenses
|
|
(3,829)
|
|
(5,833)
|
|
(6,616)
|
|
General and
administrative expenses
|
|
(1,862)
|
|
(3,625)
|
|
(2,344)
|
|
Other operating
income, net
|
|
22
|
|
1,526
|
|
68
|
|
Total operating
expenses
|
|
(16,360)
|
|
(39,770)
|
|
(36,270)
|
|
Income from
operations
|
|
1,349
|
|
3,788
|
|
226
|
|
Interest income,
net
|
|
62
|
|
107
|
|
362
|
|
Foreign exchange
loss
|
|
(38)
|
|
(57)
|
|
(416)
|
|
Income before income
taxes
|
|
1,373
|
|
3,838
|
|
172
|
|
Income tax
expense
|
|
-
|
|
-
|
|
-
|
|
Net
income
|
|
1,373
|
|
3,838
|
|
172
|
|
Net income per ordinary
share
|
|
|
|
|
|
|
|
Basic
|
|
0.0005
|
|
0.001
|
|
0.00005
|
|
Diluted
|
|
0.0004
|
|
0.001
|
|
0.00005
|
|
Weighted average shares
used in calculating net income per ordinary share
|
|
|
|
|
|
|
|
Basic
|
|
898,393,690
|
|
3,143,398,375
|
|
3,181,144,897
|
|
Diluted
|
|
1,037,517,769
|
|
3,259,214,404
|
|
3,310,299,485
|
|
Non-GAAP Financial
Data
|
|
|
|
|
|
|
|
Adjusted Net
Income
|
|
1,650
|
|
4,649
|
|
1,315
|
|
Adjusted
EBITDA
|
|
1,867
|
|
4,887
|
|
1,422
|
|
Unaudited
Condensed Consolidated Balance Sheets
(in thousands, except for share and per share data)
|
|
|
|
|
|
|
|
As of
|
|
|
|
December 31,
2018
|
|
March 31,
2019
|
|
|
|
US$
|
|
US$
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
|
84,860
|
|
77,203
|
|
Restricted
cash
|
|
-
|
|
80
|
|
Accounts receivable,
net of allowance for doubtful accounts of $1,286 and $1,286 as
of
December 31, 2018 and March 31, 2019,
respectively
|
|
23,374
|
|
27,295
|
|
Prepaid expenses and
other current assets
|
|
4,942
|
|
5,812
|
|
Total current
assets
|
|
113,176
|
|
110,390
|
|
Long-term
investments
|
|
500
|
|
500
|
|
Property and
equipment, net
|
|
4,211
|
|
4,315
|
|
Other non-current
assets
|
|
556
|
|
478
|
|
TOTAL
ASSETS
|
|
118,443
|
|
115,683
|
|
LIABILITIES,
CONVERTIBLE REDEEMABLE PREFERRED SHARES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Accounts
payable
|
|
24,781
|
|
26,272
|
|
Accrued salary and
benefits
|
|
4,535
|
|
3,003
|
|
Accrued expenses and
other current liabilities
|
|
3,582
|
|
2,664
|
|
Deferred
revenue
|
|
344
|
|
329
|
|
Total current
liabilities
|
|
33,242
|
|
32,268
|
|
Other non-current
liabilities
|
|
878
|
|
577
|
|
TOTAL
LIABILITIES
|
|
34,120
|
|
32,845
|
|
Unaudited
Condensed Consolidated Balance Sheets (continued):
(in thousands, except for share and per share data)
|
|
|
|
|
As of
|
|
|
December 31,
2018
|
|
March 31,
2019
|
|
|
US$
|
|
US$
|
|
|
|
|
|
Shareholders' Equity
:
|
|
|
|
|
Ordinary
shares
|
|
32
|
|
32
|
Treasury
Stock
|
|
(2,499)
|
|
(5,738)
|
Additional paid-in
capital
|
|
204,701
|
|
205,844
|
Accumulated
deficit
|
|
(116,752)
|
|
(116,580)
|
Accumulated other
comprehensive loss
|
|
(1,159)
|
|
(720)
|
Total Shareholders'
Equity
|
|
84,323
|
|
82,838
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
|
118,443
|
|
115,683
|
Unaudited
Condensed Consolidated Statement of Cash Flows
(in thousands, except for share and per share data)
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
March
31,
|
|
December
31,
|
|
March
31,
|
|
|
|
2018
|
|
2018
|
|
2019
|
|
|
|
US$
|
|
US$
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) operating activities
|
|
2,579
|
|
13,300
|
|
(3,334)
|
|
Net cash used in
investing activities
|
|
(615)
|
|
(1,791)
|
|
(524)
|
|
Net cash (used in)
provided by financing activities
|
|
(558)
|
|
43,734
|
|
(4,049)
|
|
Net increase (decrease)
in cash and cash equivalents
|
|
1,406
|
|
55,243
|
|
(7,907)
|
|
Cash, cash
equivalents, and restricted cash at beginning
of period
|
|
27,026
|
|
29,448
|
|
84,860
|
|
Effect of exchange rate
changes on cash and cash equivalents
|
|
586
|
|
169
|
|
330
|
|
Cash, cash
equivalents, and restricted cash at end
of period
|
|
29,018
|
|
84,860
|
|
77,283
|
|
Reconciliations of
GAAP and Non-GAAP Results
(in thousands, except for share and per share data)
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
March 31,
|
|
December
31,
|
|
March 31,
|
|
|
|
2018
|
|
2018
|
|
2019
|
|
|
|
US$
|
|
US$
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income
|
|
1,373
|
|
3,838
|
|
172
|
|
Add:
|
|
|
|
|
|
|
|
Share-based
compensation related to share options and restricted share
units
|
|
277
|
|
811
|
|
1,143
|
|
Adjusted Net
Income (Non-GAAP)*
|
|
1,650
|
|
4,649
|
|
1,315
|
|
Add:
|
|
|
|
|
|
|
|
Interest expense
(income)
|
|
(62)
|
|
(107)
|
|
(362)
|
|
Income
taxes
|
|
-
|
|
-
|
|
-
|
|
Depreciation
|
|
279
|
|
345
|
|
469
|
|
Adjusted EBITDA
(Non-GAAP)*
|
|
1,867
|
|
4,887
|
|
1,422
|
|
|
* The non-GAAP
adjustments do not take into consideration the impact of taxes on
such adjustments.
|
View original
content:http://www.prnewswire.com/news-releases/cootek-announces-first-quarter-2019-unaudited-results-300860377.html
SOURCE CooTek