Aurora Mobile Limited reports Q3 2024 financials with 7% revenue growth and narrowed net loss of RMB2.2 million.
Quiver AI Summary
Aurora Mobile Limited, a prominent provider of customer engagement and marketing technology services in China, reported its unaudited financial results for the third quarter ending September 30, 2024. The company achieved revenue of RMB79.1 million (US$11.3 million), marking a 7% year-over-year increase, while costs of revenues rose by 19%, leading to a gross profit of RMB53.2 million (US$7.6 million), an increase of 2% from the previous year. Notably, net loss narrowed to RMB2.2 million (US$0.3 million) from RMB7.0 million over the same period last year, and net loss attributable to shareholders also improved significantly. The company celebrated several milestones, including its fifth consecutive quarter of positive adjusted EBITDA and record-breaking quarterly revenues in its Developer Subscription segment. Strong growth in its EngageLab business contributed to the overall revenue increase, driving both customer numbers and contract values significantly upward. The company plans to host an earnings conference call to discuss these results further.
Potential Positives
- Revenues for Q3 2024 increased by 7% year-over-year, reaching RMB79.1 million (US$11.3 million), indicating positive growth in the company's customer engagement and marketing technology services.
- The net loss narrowed significantly to RMB2.2 million (US$0.3 million), a 69% reduction compared to the net loss of RMB7.0 million in the same quarter last year, highlighting improved financial performance.
- The Company recorded its 5th consecutive quarterly positive Adjusted EBITDA, reflecting sustained operational efficiency and profitability in its business model.
- EngageLab business revenue nearly doubled year-over-year, showcasing strong demand and customer growth in this segment, which is crucial for the company's expansion strategy.
Potential Negatives
- Adjusted net loss transitioned from a net income of RMB 2.1 million in the same quarter last year to a loss of RMB 0.9 million, indicating a significant deterioration in financial performance.
- Adjusted EBITDA decreased from RMB 4.5 million in the same quarter last year to RMB 0.6 million, suggesting declining operational efficiency and profitability.
- General and administrative expenses increased by 92% year-over-year, a significant rise that may indicate concerns regarding operational management or unforeseen costs.
FAQ
What were Aurora Mobile's Q3 2024 revenue figures?
The company reported revenues of RMB79.1 million (US$11.3 million), a 7% increase year-over-year.
How did Aurora Mobile manage operating expenses in Q3 2024?
Total operating expenses decreased by 5% year-over-year to RMB57.1 million (US$8.1 million).
What is the adjusted net loss for Aurora Mobile in Q3 2024?
The adjusted net loss was RMB0.9 million (US$0.1 million), compared to RMB2.1 million adjusted net income last year.
How has the EngageLab business performed?
EngageLab business grew significantly, with a 32% increase in customer numbers quarter-over-quarter.
When will Aurora Mobile hold its earnings conference call?
The earnings conference call is scheduled for Thursday, November 14, 2024, at 7:30 a.m. U.S. Eastern Time.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$JG Hedge Fund Activity
We have seen 2 institutional investors add shares of $JG stock to their portfolio, and 1 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS GROUP AG added 2,719 shares (+inf%) to their portfolio in Q2 2024
- RHUMBLINE ADVISERS added 1,370 shares (+70.5%) to their portfolio in Q3 2024
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO removed 149 shares (-100.0%) from their portfolio in Q2 2024
- LARSON FINANCIAL GROUP LLC added 0 shares (+0.0%) to their portfolio in Q3 2024
- FARMERS & MERCHANTS TRUST CO OF CHAMBERSBURG PA added 0 shares (+0.0%) to their portfolio in Q3 2024
- QUBE RESEARCH & TECHNOLOGIES LTD added 0 shares (+0.0%) to their portfolio in Q2 2024
- MORGAN STANLEY added 0 shares (+0.0%) to their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
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