BEIJING, Dec. 2, 2022
/PRNewswire/ -- Jianpu Technology Inc. ("Jianpu," or the
"Company") (NYSE: JT), a leading independent open platform for the
discovery and recommendation of financial products in China, today announced its unaudited financial
results for the third quarter ended September 30, 2022.
Third Quarter 2022 Operational and Financial
Highlights:
- Total revenues from recommendation services for the third
quarter of 2022 increased by 30.3% to RMB211.6 million (US$29.7
million) from RMB162.4 million
in the same period of 2021, primarily driven by the increases in
credit card volume and the number of domestic loan applications, as
well as the increase in average fee per domestic loan application.
The credit card volume and number of domestic loan applications for
recommendation services increased by 6.5% to approximately 1.1
million and 18.5% to approximately 5.0 million, respectively, in
the third quarter of 2022 compared with the same period of
2021.
- Revenues from big data and system-based risk management
services decreased by 18.8% to RMB25.0
million (US$3.5 million) in
the third quarter of 2022 from RMB30.8
million in the same period of 2021. The decrease was mainly
attributable to a decrease in the number of paying customers
related to the impact of COVID-19 on the Company's cooperation with
customers and product adjustments.
- Revenues from advertising and marketing services and other
services increased by 66.0% to RMB32.2
million (US$4.5 million) in
the third quarter of 2022 from RMB19.4
million in the same period of 2021. The increase was mainly
attributable to the growth of insurance brokerage services and
other new business initiatives.
- Loss from operations was RMB31.9
million (US$4.5 million) in
the third quarter of 2022, compared with RMB60.6 million in the same period of 2021.
Operating loss margin was 11.9% in the third quarter of 2022,
compared with 28.5% in the same period of 2021. The improvement in
loss from operations was mainly attributable to an increase in
revenues and a decrease in operating expenses resulting from
efficiency improvement and cost optimization.
- Net loss was RMB25.1 million
(US$3.5 million) in the third quarter
of 2022, compared with RMB60.0
million in the same period of 2021. Net loss margin was 9.3%
in the third quarter of 2022, compared with 28.2% in the same
period of 2021.
- Non-GAAP adjusted net loss[1] was RMB9.4 million (US$1.3
million) in the third quarter of 2022, compared with
Non-GAAP adjusted net loss[1] of RMB50.8 million in the same period of 2021.
Non-GAAP adjusted net loss margin[1] was 3.5% in the
third quarter of 2022, compared with 23.9% in the same period of
2021.
First Nine Months 2022 Operational and Financial
Highlights:
- The credit card volume and number of domestic loan applications
for recommendation services increased by 19.6% to approximately 3.2
million and 40.2% to approximately 13.2 million, respectively, in
the first nine months of 2022 compared with the same period of
2021. As a result, total revenues from recommendation services for
the first nine months of 2022 increased by 34.3% to RMB560.4 million (US$78.8
million) from RMB417.3 million
in the same period of 2021.
- Revenues from big data and system-based risk management
services decreased by 27.6% to RMB68.0
million (US$9.6 million) in
the first nine months of 2022 from RMB93.9
million in the same period of 2021. The decrease was mainly
attributable to a decrease in the number of paying customers
related to the impact of COVID-19 on the Company's cooperation with
customers and product adjustments.
- Revenues from advertising and marketing services and other
services increased by 151.7% to RMB113.0
million (US$15.9 million) in
the first nine months of 2022 from RMB44.9
million in the same period of 2021. The increase was mainly
attributable to the growth of insurance brokerage services and
other new business initiatives.
- Loss from operations was RMB122.4
million (US$17.2 million) in
the first nine months of 2022, compared with RMB197.3 million in the same period of 2021.
Operating loss margin was 16.5% in the first nine months of 2022,
compared with 35.5% in the same period of 2021. The improvement of
loss from operations was mainly attributable to an increase in
revenues and a decrease in operating expenses resulting from
efficiency improvement and cost optimization.
- Net loss was RMB114.1 million
(US$16.0 million) in the first nine
months of 2022, compared with RMB155.8
million in the same period of 2021. Net loss margin was
15.4% in the first nine months of 2022, compared with 28.0% in the
same period of 2021.
- Non-GAAP adjusted net loss[1] was RMB92.2 million (US$13.0
million) in the first nine months of 2022, compared with
Non-GAAP adjusted net loss[1] of RMB140.8 million in the same period of 2021.
Non-GAAP adjusted net loss margin[1] was 12.4% in the
first nine months of 2022, compared with 25.3% in the same period
of 2021.
Mr. David Ye, Co-founder,
Chairman and Chief Executive Officer of Jianpu, commented, "In the
third quarter, we maintained solid total revenue growth of 26.4%
year-over-year and our Non-GAAP adjusted net loss
margin[1] significantly reduced to 3.5% from 23.9%
a year earlier and 12.1% in the previous quarter, against the
backdrop of a challenging macro environment. These resilient
results were primarily driven by our balanced and diversified
revenue structure, continued operating efficiency improvements, and
cost optimization measures. We continued to execute on our strategy
for optimizing company resources and streamlining operations to
enhance our operational efficiency. In addition, our ongoing
disciplined cost optimization measures continued to enhance our
overall productivity."
The uncertainties around both COVID control measures and macro
economy may persist into the
fourth quarter. Therefore, we are adopting a cautious outlook on
our business growth, which could moderate further in the fourth
quarter. Looking ahead, we believe our industry leading position,
technological capabilities, diversified revenue structure and
continued efficiency gains will enable us to successfully navigate
through the cycle and maintain a healthy and sustainable rate of
growth. We remain committed to progressing on our vision of
'Becoming everyone's financial partner', thereby delivering greater
long-term value to the company and shareholders," concluded Mr.
Ye.
"Our third-quarter results highlight our relentless effort to
maintain a good balance between business growth and operational
efficiency. Our revenues from recommendation services increased by
30.3% year-over-year, while revenues from advertising, marketing
services and other services were up 66.0% year-over-year. With the
continued optimization of our cost structure and improvement in
productivity, our Non-GAAP adjusted net
loss[1] reduced significantly by 81.5%
year-over-year to just RMB9.4 million
in the third quarter. We will maintain disciplined cost
control, and strive to improve our productivity and margin
further," said Oscar Chen, Chief
Financial Officer of Jianpu.
Third Quarter 2022 Financial Results
Total revenues for the third quarter of 2022 increased by
26.4% to RMB268.8 million
(US$37.8 million) from RMB212.6 million in the same period of
2021.
Total revenues from recommendation
services increased by 30.3% to RMB211.6 million (US$29.7 million) in the third quarter of 2022
from RMB162.4 million in the
same period of 2021.
Revenues from recommendation services for
credit cards increased by 11.9% to RMB129.5 million (US$18.2 million) in the third quarter of
2022 from RMB115.7 million in the
same period of 2021. Credit card volume in the third quarter of
2022 increased by 6.5% to approximately 1.1 million from
1.0 million in the same period of 2021. The average fee per
credit card were RMB116.4 (US$16.4) in the third quarter of
2022 and RMB110.8 in the same
period of 2021, respectively.
Revenues from recommendation services for
loans increased by 75.8% to RMB82.1 million (US$11.5 million) in the third quarter of
2022 from RMB46.7 million in the
same period of 2021. The number of domestic loan applications
on the Company's platform was approximately 5.0 million in the
third quarter of 2022, representing an 18.5%
increase from that in the same period of 2021. The average fee
per domestic loan application increased to RMB16.5 (US$2.3) in the third quarter of
2022 from RMB11.2 in the same
period of 2021, resulting from a more optimized product
revenue mixture.
Revenues from big data and system-based risk management
services decreased by 18.8% to RMB25.0 million (US$3.5 million) in the third quarter of 2022
from RMB30.8 million in the same
period of 2021. The decrease was mainly attributable to a
decrease in the number of paying customers related to the
impact of COVID-19 on the Company's cooperation with customers
and product adjustments.
Revenues from advertising and marketing services and other
services increased by 66.0% to RMB32.2 million (US$4.5 million) in the third quarter of 2022
from RMB19.4 million in the same
period of 2021, primarily due to the growth of the
Company's insurance brokerage services and other new business
initiatives.
Cost of promotion and acquisition increased by
22.1% to RMB180.2 million
(US$25.3 million) in the third
quarter of 2022 from RMB147.6 million in the same period of 2021.
The increase was primarily due to the growth of the Company's
revenues from recommendation services, insurance
brokerage services and other new business
initiatives.
Cost of operation increased by 5.0% to
RMB21.0 million (US$3.0 million) in the third quarter of 2022
from RMB20.0 million in the same
period of 2021. The increase was primarily attributable to an
increase in software development and maintenance costs related to
the big data and system-based risk management services, partially
offset by decreases in payroll costs and depreciation expenses.
Sales and marketing expenses increased by
1.2% to RMB34.5 million
(US$4.9 million) in the third
quarter of 2022 from RMB34.1 million in the same period of 2021.
The increase was primarily due to an increase in call center
outsourcing expenses, partially offset by a decrease in payroll
expenses.
Research and development expenses decreased by
11.2% to RMB28.6 million
(US$4.0 million) in the third quarter
of 2022 from RMB32.2 million in
the same period of 2021, primarily due to a decrease in payroll
expenses resulting from the Company's continued efforts in cost
optimization.
General and administrative
expenses decreased by 41.6% to RMB23.0 million (US$3.2 million) in the third quarter of 2022
from RMB39.4 million in the same
period of 2021, primarily due to decreases in professional fees,
payroll expenses, credit loss expenses and share-based compensation
expenses.
Impairment of goodwill and intangible assets was RMB13.3
million (US$1.9 million) in the
third quarter of 2022, which was the impairment of the goodwill and
intangible assets of an acquired subsidiary, Newsky Wisdom Treasure
(Beijing) Co.,Ltd, which
experienced a decline in revenue due to the impact of COVID-19
prevention and control measures. There was no such impairment loss
in the same period of 2021.
Loss from operations was RMB31.9
million (US$4.5 million)
in the third quarter of 2022, compared with RMB60.6 million in the same period of 2021.
Operating loss margin was 11.9% in the third quarter of 2022,
compared with 28.5% in the same period of 2021. The
decrease in operating loss was mainly attributable to an
increase in revenues and a decrease in operating expenses resulting
from efficiency improvement and cost optimization, partially offset
by the impairment of goodwill and intangible assets.
Others, net increased by 341.2% to
RMB7.5 million (US$1.1 million) in the third quarter of 2022
from RMB1.7 million in the same
period of 2021, primarily attributable to tax benefits for
value-added tax.
Net loss was RMB25.1 million (US$3.5 million) in the third quarter of 2022
compared with RMB60.0 million in
the same period of 2021. Net loss margin was 9.3% in the third
quarter of 2022, compared with 28.2% in the same period of
2021.
Non-GAAP adjusted net loss[1], which excluded
share-based compensation expenses, investment impairment loss,
impairment of goodwill and intangible assets, investment gain of
deconsolidation of subsidiaries and tax effects of above Non-GAAP
adjustments was RMB9.4 million
(US$1.3 million) in the third quarter
of 2022, compared with RMB50.8
million in the same period of 2021. Non-GAAP adjusted net
loss margin[1] was 3.5% in the third quarter of
2022 compared with 23.9% in the same period of 2021.
Non-GAAP adjusted EBITDA[2], which excluded
share-based compensation expenses, investment impairment loss,
impairment of goodwill and intangible assets, investment gain of
deconsolidation of subsidiaries, depreciation and amortization,
interest income and expenses, and income tax benefits from net
loss, for the third quarter of 2022 was a loss of RMB7.2 million (US$1.0
million), compared with a loss of RMB47.9 million in the same period of
2021.
As of September 30, 2022, the
Company had cash and cash equivalents, restricted cash and time
deposits of RMB700.5 million
(US$98.5 million), and working
capital of approximately RMB400.3
million (US$56.3 million).
Compared to those as of December 31,
2021, cash and cash equivalents, time deposits, restricted
cash and time deposits and short-term investment decreased by
RMB62.3 million, which was
primarily attributable to net cash outflow due to the
deconsolidation of one of the Company's subsidiaries and net cash
used in operating activities, partially offset by net cash inflow
from financing activities.
First Nine Months 2022 Financial Results
Total revenues for the first nine months of 2022
increased by 33.3% to RMB741.4 million (US$104.2 million) from RMB556.2 million in the same period of
2021.
Total revenues from recommendation
services increased by 34.3% to RMB560.4 million (US$78.8 million) in the first nine months of 2022
from RMB417.3 million in the
same period of 2021.
Revenues from recommendation services for
credit cards increased by 23.6% to RMB365.2 million (US$51.3 million) in the first nine months of
2022 from RMB295.5 million in the
same period of 2021. Credit card volume in the first nine months of
2022 increased by 19.6% to approximately 3.2 million from
2.7 million in the same period of 2021. The average fee per
credit card were RMB113.4
(US$15.9) in the first nine
months of 2022 and RMB110.0 in
the same period of 2021, respectively.
Revenues from recommendation services for
loans increased by 60.3% to RMB195.2 million (US$27.4 million) in the first nine months of
2022 from RMB121.8 million in
the same period of 2021, primarily due to an increase in the number
of loan applications on our platform. The number of domestic
loan applications on the Company's platform was approximately
13.2 million in the first nine months of 2022, representing a
40.2% increase from that in the same period of 2021. The
average fee per domestic loan application increased to RMB14.8 (US$2.1) in the first nine months of
2022 from RMB13.0 in the same
period of 2021.
Revenues from big data and system-based risk management
services decreased by 27.6% to RMB68.0 million (US$9.6 million) in the first nine months of
2022 from RMB93.9 million in the same
period of 2021, primarily due to the COVID-19 impact on our
cooperation with customers as well as product adjustments.
Revenues from advertising and marketing services and other
services increased by 151.7% to RMB113.0 million (US$15.9 million) in the first nine months of
2022 from RMB44.9 million in the
same period of 2021, primarily due to the growth of the Company's
insurance brokerage services and other new business
initiatives.
Cost of promotion and acquisition[3]
increased by 39.1% to RMB521.5
million (US$73.3 million) in
the first nine months of 2022 from RMB374.9 million in the same period of 2021.
The increase was in line with the growth of the Company's revenues
from recommendation services, insurance brokerage services and
other new business initiatives.
Cost of operation decreased by 4.8% to
RMB59.9 million (US$8.4 million) in the first nine months of
2022 from RMB62.9 million in the
same period of 2021. The decrease was primarily attributable
to decreases in payroll costs and depreciation expenses, partially
offset by an increase in software development and maintenance costs
related to big data and system-based risk management services.
Sales and marketing expenses decreased by
6.5% to RMB101.6 million
(US$14.3 million) in the first
nine months of 2022 from RMB108.7 million in the same period of 2021.
The decrease was primarily due to a decrease in payroll
expenses, partially offset by an increase in call center
outsourcing expenses.
Research and development expenses decreased by
14.3% to RMB87.7 million
(US$12.3 million) in the first nine
months of 2022 from RMB102.3 million in the same period of 2021,
primarily due to a decrease in payroll expenses resulting from our
continued efforts in cost optimization.
General and administrative
expenses decreased by 23.7% to RMB79.9 million (US$11.2 million) in the first nine months of
2022 from RMB104.7 million in
the same period of 2021, primarily due to decreases in professional
fees, share-based compensation expenses and payroll costs,
partially offset by an increase in credit loss expenses.
Impairment
of goodwill and intangible assets was RMB13.3
million (US$1.9 million) in the
first nine months of 2022, which was the impairment of the goodwill
and intangible assets of an acquired subsidiary, Newsky Wisdom
Treasure (Beijing) Co., Ltd. There
was no such impairment loss in the same period of 2021.
Loss from operations was RMB122.4
million (US$17.2 million)
in the first nine months of 2022, compared with RMB197.3 million in the same period of 2021.
Operating loss margin was 16.5% in the first nine
months of 2022, compared with 35.5% in the same period of
2021. The decrease in operating loss was mainly attributable
to an increase in revenues and a decrease in operating expenses
resulting from efficiency improvement and cost optimization,
partially offset by the impairment of goodwill and intangible
assets.
Others,
net decreased by 73.6% to RMB11.6 million (US$1.6 million) in the first nine months of
2022 from RMB44.0 million in the
same period of 2021. The Company recognized an impairment
loss of RMB8.7 million
on investments and an investment gain of RMB6.1 million resulting from the deconsolidation
of one of its subsidiaries[4] in the first nine months
of 2022; while the Company recognized a realized investment gain of
RMB40.3 million from the investment
in Conflux Global, a decentralized applications block-chain
solution provider, in the first nine months of 2021. There was no
such gain in the same period of 2022.
Net loss was RMB114.1 million (US$16.0 million) in the first nine months of
2022 compared with RMB155.8 million in the same period of 2021.
Net loss margin was 15.4% in the first nine months of 2022
compared with 28.0% in the same period of 2021.
Non-GAAP adjusted net loss[1], which excluded
share-based compensation expenses, investment impairment loss,
impairment of goodwill and intangible assets, investment gain of
deconsolidation of subsidiaries and tax effects of above Non-GAAP
adjustments, was RMB92.2 million
(US$13.0 million) in the first nine
months of 2022, compared with RMB140.8
million in the same period of 2021. Non-GAAP adjusted net
loss margin[1] was 12.4% in the first nine months of
2022 compared with 25.3% in the same period of 2021.
Non-GAAP adjusted EBITDA[2], which excluded
share-based compensation expenses, investment impairment loss,
impairment of goodwill and intangible assets, investment gain of
deconsolidation of subsidiaries, depreciation and amortization,
interest income and expenses, and income tax benefits from net
loss, for the first nine months of 2022 was a loss
of RMB84.7 million (US$11.9 million), compared with a loss of
RMB129.5 million in the same
period of 2021.
Conference Call
The Company's management will host an earnings conference call
at 7:00 AM U.S. Eastern Time on
December 2, 2022 (8:00 PM Beijing/Hong Kong Time on December 2, 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 December 9, 2022, by dialing the following
telephone numbers:
United States (toll
free):
|
1-877-344-7529
|
International:
|
1-412-317-0088
|
Replay Access
Code:
|
3587296
|
About Jianpu Technology Inc.
Jianpu Technology Inc. is a leading independent open platform
for the 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 its 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 its 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 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 its 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 the Company's 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 the Company's 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, investment impairment loss, impairment of
goodwill and intangible assets, investment gain of deconsolidation
of subsidiaries and tax effects of above Non-GAAP
adjustments. EBITDA represents net (loss)/income before
interest, tax, depreciation and amortization.
Adjusted net (loss)/income represents net (loss)/income before
share-based compensation expenses, investment impairment loss,
impairment of goodwill and intangible assets, investment gain
of deconsolidation of subsidiaries and tax effects of above
Non-GAAP adjustments.
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:
suri.cheng@christensencomms.com
Tel: +86 185 0060 8364
Crystal Lai, E-mail:
crystal.lai@christensencomms.com
Tel: +852 2232 3907
In US:
Christensen Advisory
Linda Bergkamp, E-mail:
linda.bergkamp@christensencomms.com
Tel: +1 480 353 6648
Jianpu Technology Inc.
|
Unaudited Condensed
Consolidated Balance Sheets
|
|
(In
thousands)
|
As of December
31,
|
|
As of September
30,
|
2021
|
|
2022
|
RMB
|
|
RMB
|
|
US$
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
444,933
|
|
356,873
|
|
50,168
|
Time
deposits
|
10,000
|
|
-
|
|
-
|
Restricted time
deposits
|
234,601
|
|
303,412
|
|
42,653
|
Short-term
investment
|
35,950
|
|
-
|
|
-
|
Accounts receivable,
net (including amounts billed through
related party of RMB4,359 and RMB2,298 as of December
31, 2021 and September 30, 2022, respectively)
|
175,165
|
|
190,229
|
|
26,742
|
Amount due from
related parties
|
140
|
|
155
|
|
22
|
Prepayments and other
current assets
|
53,466
|
|
57,676
|
|
8,108
|
Total current
assets
|
954,255
|
|
908,345
|
|
127,693
|
Non-current
assets:
|
|
|
|
|
|
Property and
equipment, net
|
12,617
|
|
12,189
|
|
1,714
|
Intangible assets,
net
|
21,675
|
|
19,019
|
|
2,674
|
Goodwill
|
10,236
|
|
-
|
|
-
|
Restricted cash and
time deposits
|
37,266
|
|
40,165
|
|
5,646
|
Other non-current
assets
|
33,873
|
|
20,850
|
|
2,931
|
Total non-current
assets
|
115,667
|
|
92,223
|
|
12,965
|
Total
assets
|
1,069,922
|
|
1,000,568
|
|
140,658
|
|
|
|
|
|
|
LIABILITIES,
MEZZANINE EQUITY AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Short-term
borrowings
|
181,853
|
|
246,606
|
|
34,667
|
Accounts payable
(including amounts billed through
related party of RMB2,384 and RMB7,882 as of December
31,2021 and September 30, 2022, respectively)
|
103,782
|
|
97,442
|
|
13,698
|
Advances from
customers
|
47,221
|
|
51,848
|
|
7,289
|
Tax payable
|
14,670
|
|
11,530
|
|
1,621
|
Amount due to related
parties
|
29,270
|
|
20,157
|
|
2,834
|
Accrued expenses and
other current liabilities
|
152,521
|
|
80,436
|
|
11,308
|
Total current
liabilities
|
529,317
|
|
508,019
|
|
71,417
|
Non-current
liabilities:
|
|
|
|
|
|
Deferred tax
liabilities
|
4,549
|
|
3,729
|
|
524
|
Other non-current
liabilities
|
13,604
|
|
14,127
|
|
1,986
|
Total non-current
liabilities
|
18,153
|
|
17,856
|
|
2,510
|
Total
liabilities
|
547,470
|
|
525,875
|
|
73,927
|
Mezzanine
equity:
|
|
|
|
|
|
Redeemable
noncontrolling interest
|
1,689
|
|
10,667
|
|
1,500
|
Shareholders'
equity:
|
|
|
|
|
|
Ordinary
shares
|
286
|
|
286
|
|
40
|
Treasury stock, at
cost
|
(88,130)
|
|
(77,629)
|
|
(10,913)
|
Additional paid-in
capital
|
1,902,587
|
|
1,889,823
|
|
265,667
|
Accumulated
losses
|
(1,299,846)
|
|
(1,403,932)
|
|
(197,362)
|
Statutory
reserves
|
2,027
|
|
2,027
|
|
285
|
Accumulated other
comprehensive (loss)/income
|
(15,419)
|
|
47,493
|
|
6,676
|
Total Jianpu's
shareholders' equity
|
501,505
|
|
458,068
|
|
64,393
|
Noncontrolling
interests
|
19,258
|
|
5,958
|
|
838
|
Total shareholders'
equity
|
520,763
|
|
464,026
|
|
65,231
|
Total liabilities,
mezzanine equity and shareholders'
equity
|
1,069,922
|
|
1,000,568
|
|
140,658
|
Jianpu Technology Inc.
|
Unaudited Condensed
Consolidated Statements of Comprehensive Loss
|
|
(In thousands
except for number of shares and per
share data)
|
|
For the Three Months
Ended September 30,
|
|
For the Nine Months
Ended September 30,
|
|
2021
|
2022
|
|
2021
|
2022
|
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
Recommendation
services:
|
|
|
|
|
|
|
|
|
Loans
[a]
|
|
46,749
|
82,114
|
11,543
|
|
121,843
|
195,186
|
27,439
|
Credit
cards
|
|
115,688
|
129,454
|
18,198
|
|
295,492
|
365,229
|
51,343
|
Total recommendation
services
|
|
162,437
|
211,568
|
29,741
|
|
417,335
|
560,415
|
78,782
|
Big data and
system-based risk
management services [b]
|
|
30,835
|
24,983
|
3,512
|
|
93,941
|
68,000
|
9,559
|
Advertising, marketing
services and other
services [b]
|
|
19,367
|
32,244
|
4,533
|
|
44,908
|
113,002
|
15,886
|
Total
revenues
|
|
212,639
|
268,795
|
37,786
|
|
556,184
|
741,417
|
104,227
|
Costs and
expenses:
|
|
|
|
|
|
|
|
|
Cost of promotion and
acquisition [c] [3]
|
|
(147,631)
|
(180,200)
|
(25,332)
|
|
(374,858)
|
(521,488)
|
(73,310)
|
Cost of operation
[d] [3]
|
|
(19,973)
|
(20,985)
|
(2,950)
|
|
(62,946)
|
(59,893)
|
(8,420)
|
Total cost of
services
|
|
(167,604)
|
(201,185)
|
(28,282)
|
|
(437,804)
|
(581,381)
|
(81,730)
|
Sales and marketing
expenses [3]
|
|
(34,051)
|
(34,539)
|
(4,855)
|
|
(108,690)
|
(101,561)
|
(14,277)
|
Research and
development expenses [e]
|
|
(32,191)
|
(28,617)
|
(4,023)
|
|
(102,251)
|
(87,685)
|
(12,327)
|
General and
administrative expenses
|
|
(39,375)
|
(23,044)
|
(3,239)
|
|
(104,708)
|
(79,875)
|
(11,229)
|
Impairment of goodwill
and intangible
assets
|
|
-
|
(13,327)
|
(1,873)
|
|
-
|
(13,327)
|
(1,873)
|
Loss from
operations
|
|
(60,582)
|
(31,917)
|
(4,486)
|
|
(197,269)
|
(122,412)
|
(17,209)
|
Net interest
expenses
|
|
(1,251)
|
(1,218)
|
(171)
|
|
(3,022)
|
(4,122)
|
(579)
|
Others, net
|
|
1,719
|
7,472
|
1,050
|
|
44,042
|
11,643
|
1,637
|
Loss before income
tax
|
|
(60,114)
|
(25,663)
|
(3,607)
|
|
(156,249)
|
(114,891)
|
(16,151)
|
Income tax
benefits
|
|
144
|
588
|
83
|
|
439
|
837
|
118
|
Net
loss
|
|
(59,970)
|
(25,075)
|
(3,524)
|
|
(155,810)
|
(114,054)
|
(16,033)
|
Less: net loss
attributable to
noncontrolling interests
|
|
(1,559)
|
(7,562)
|
(1,063)
|
|
(3,393)
|
(9,968)
|
(1,401)
|
Net loss
attributable to Jianpu
Technology Inc.
|
|
(58,411)
|
(17,513)
|
(2,461)
|
|
(152,417)
|
(104,086)
|
(14,632)
|
Accretion of mezzanine
equity
|
|
-
|
-
|
-
|
|
-
|
(8,740)
|
(1,229)
|
Net loss
attributable to Jianpu's
shareholders
|
|
(58,411)
|
(17,513)
|
(2,461)
|
|
(152,417)
|
(112,826)
|
(15,861)
|
|
|
|
|
|
|
|
|
|
Other comprehensive
income/(loss), net
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
|
3,697
|
33,676
|
4,734
|
|
(3,868)
|
63,062
|
8,865
|
Total other
comprehensive income/
(loss)
|
|
3,697
|
33,676
|
4,734
|
|
(3,868)
|
63,062
|
8,865
|
Total comprehensive
income/(loss)
|
|
(56,273)
|
8,601
|
1,210
|
|
(159,678)
|
(50,992)
|
(7,168)
|
Less: total
comprehensive loss
attributable to noncontrolling interests
|
|
(1,009)
|
(7,581)
|
(1,066)
|
|
(2,762)
|
(9,818)
|
(1,380)
|
Total comprehensive
income/(loss)
attributable to Jianpu Technology Inc.
|
|
(55,264)
|
16,182
|
2,276
|
|
(156,916)
|
(41,174)
|
(5,788)
|
Accretion of mezzanine
equity
|
|
-
|
-
|
-
|
|
-
|
(8,740)
|
(1,229)
|
Total comprehensive
income/(loss)
attributable to Jianpu's shareholders
|
|
(55,264)
|
16,182
|
2,276
|
|
(156,916)
|
(49,914)
|
(7,017)
|
|
|
|
|
|
|
|
|
|
Net loss per share
attributable to
Jianpu's shareholders
|
|
|
|
|
|
|
|
|
Basic
|
|
(0.14)
|
(0.04)
|
(0.01)
|
|
(0.36)
|
(0.27)
|
(0.04)
|
Diluted
|
|
(0.14)
|
(0.04)
|
(0.01)
|
|
(0.36)
|
(0.27)
|
(0.04)
|
Net loss per
ADS attributable to
Jianpu's shareholders
|
|
|
|
|
|
|
|
|
Basic
|
|
(2.76)
|
(0.83)
|
(0.12)
|
|
(7.20)
|
(5.32)
|
(0.75)
|
Diluted
|
|
(2.76)
|
(0.83)
|
(0.12)
|
|
(7.20)
|
(5.32)
|
(0.75)
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
Basic
|
|
423,677,480
|
424,297,809
|
424,297,809
|
|
423,656,234
|
423,896,586
|
423,896,586
|
Diluted
|
|
423,677,480
|
424,297,809
|
424,297,809
|
|
423,656,234
|
423,896,586
|
423,896,586
|
|
[a]
Including revenues from related party of RMB133 and RMB282 for the
three months ended September 30, 2021 and 2022, respectively,
and RMB403 and RMB416 for the nine months ended September 30, 2021
and 2022, respectively.
|
[b] Including revenues from
related party of RMB1,044 and RMB1,486 for the three months ended
September 30, 2021 and 2022, respectively,
and RMB3,487 and RMB3,818 for the nine months ended September
30, 2021 and 2022, respectively.
|
[c] Including cost of
promotion and acquisition from related party of nil and
RMB41 for the three months ended September 30, 2021 and 2022,
respectively, and nil and RMB185 for the nine months ended
September 30, 2021 and 2022, respectively.
|
[d] Including cost of operation
from related party of RMB395 and RMB79 for the three months ended
September 30, 2021 and 2022, respectively,
and RMB767 and RMB283 for the nine months ended September 30,
2021 and 2022, respectively.
|
[e] Including expenses from
related party of RMB99 and RMB157 for the three months ended
September 30, 2021 and 2022, respectively, and
RMB112 and RMB524 for the nine months ended September 30, 2021
and 2022, respectively.
|
Jianpu Technology Inc.
|
Unaudited Reconciliations of GAAP and
Non-GAAP Results
|
|
|
(In
thousands)
|
|
For the Three Months
Ended September 30,
|
|
For the Nine Months
ended September 30,
|
|
2021
|
2022
|
|
2021
|
2022
|
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
Net
loss
|
|
(59,970)
|
(25,075)
|
(3,524)
|
|
(155,810)
|
(114,054)
|
(16,033)
|
Add: Share-based
compensation expenses
|
|
9,137
|
1,957
|
275
|
|
14,971
|
6,396
|
899
|
Investment impairment
loss
|
|
-
|
893
|
126
|
|
-
|
8,716
|
1,225
|
Impairment of goodwill
and intangible
assets
|
|
-
|
13,327
|
1,873
|
|
-
|
13,327
|
1,873
|
Investment gain of
deconsolidation of
subsidiaries[4]
|
|
-
|
-
|
-
|
|
-
|
(6,149)
|
(864)
|
Tax effects on
Non-GAAP
adjustments[5]
|
|
-
|
(464)
|
(65)
|
|
-
|
(464)
|
(65)
|
Non-GAAP adjusted
net loss[1]
|
|
(50,833)
|
(9,362)
|
(1,315)
|
|
(140,839)
|
(92,228)
|
(12,965)
|
Add: Depreciation and
amortization
|
|
1,866
|
1,082
|
152
|
|
8,707
|
3,806
|
535
|
Net interest
expenses
|
|
1,251
|
1,218
|
171
|
|
3,022
|
4,122
|
579
|
Income tax
benefits
|
|
(144)
|
(124)
|
(18)
|
|
(439)
|
(373)
|
(53)
|
Non-GAAP adjusted
EBITDA[2]
|
|
(47,860)
|
(7,186)
|
(1,010)
|
|
(129,549)
|
(84,673)
|
(11,904)
|
|
[1] Non-GAAP adjusted net loss
represents net loss before share-based compensation expenses,
investment impairment loss, impairment of
goodwill and intangible assets, investment gain
of deconsolidation of subsidiaries and tax effects of
above Non-GAAP adjustments. 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,
investment impairment loss, impairment of
goodwill and intangible assets, investment gain
of deconsolidation of subsidiaries and tax effects of
above Non-GAAP adjustments. EBITDA
represents net (loss)/income before interest income and expenses,
income tax benefits from net loss and 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 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
Company outsources. The cost of operation, cost of promotion
and acquisition, and sales and marketing expenses for prior periods
of 2021
presented in this press release have also been retrospectively
reclassified. The amount reclassified from sales and marketing
expenses and
cost of revenue to cost of promotion and acquisition were RMB177.4
million and RMB49.8 million for the first half year of 2021,
respectively.
|
[4] In
June 2022, Databook Tech Ltd ("Databook"), one of the
Company's subsidiaries, made a cash distribution to its
shareholders, through
which the Company received a portion of the cash
distribution. Databook also issued additional shares to
one minority shareholder and
changed the Company's board seat in Databook to one
director. The Company consequently became a minority shareholder
of Databook and
no longer has control over the Databook. The investment gain
of RMB6.1 million was realized in the second quarter of 2022, and
additional
gains, if any, will be recognized in earnings when such gains are
realized.
|
[5] Tax
effects on Non-GAAP adjustments was tax effects relating to the
impairment of intangible assets.
|
View original
content:https://www.prnewswire.com/news-releases/jianpu-technology-inc-reports-third-quarter-2022-unaudited-financial-results-301692397.html
SOURCE Jianpu Technology Inc.