BEIJING, Nov. 24,
2023 /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, 2023.
Third Quarter 2023 Operational
and Financial Highlights:
- Revenues from recommendation services for the third quarter of
2023 decreased by 9.6% to RMB191.2
million (US$26.2 million) from
RMB211.6 million in the same period
of 2022. Revenues from recommendation services for loans increased
by 25.3% to RMB102.9 million
(US$14.1 million) in the third
quarter of 2023 from RMB82.1 million
in the same period of 2022, primarily due to the increase in the
number of loan applications. Revenues from recommendation services
for credit cards decreased by 31.8% to RMB88.3 million (US$12.1
million) in the third quarter of 2023 from RMB129.5 million in the same period of 2022,
primarily due to the decrease in the credit card volume.
- Revenues from big data and system-based risk management
services decreased by 24.4% to RMB18.9
million (US$2.6 million) in
the third quarter of 2023 from RMB25.0
million in the same period of 2022, primarily due to the
deconsolidation of Newsky Wisdom Treasure (Beijing) Co., Ltd ("Newsky Wisdom") in the
second quarter of 2023. The decline was also caused by a gradual
shift of our business model of data-based risk management services
towards the cooperation with the licensed credit reporting
agencies.
- Revenues from marketing and other services[1]
increased by 41.3% to RMB45.5 million
(US$6.2 million) in the third quarter
of 2023 from RMB32.2 million in the
same period of 2022. The increase was mainly attributable to the
growth of insurance brokerage services and other new
businesses.
- Loss from operations was RMB8.7
million (US$1.2 million) in
the third quarter of 2023, compared with RMB31.9 million in the same period of 2022.
Operating loss margin was 3.4% in the third quarter of 2023,
compared with 11.9% in the same period of 2022. The improvement of
loss from operations was mainly attributable to the decrease in
costs and expenses resulting from efficiency improvement and cost
optimization.
- Net loss was RMB6.4 million
(US$0.9 million) in the third quarter
of 2023, compared with RMB25.1
million in the same period of 2022. Net loss margin was 2.5%
in the third quarter of 2023, compared with 9.3% in the same period
of 2022.
- Non-GAAP adjusted net loss[2] was RMB5.6 million (US$0.8
million) in the third quarter of 2023, compared with
RMB9.4 million in the same period of
2022. Non-GAAP adjusted net loss margin[2] was 2.2% in
the third quarter of 2023, compared with 3.5% in the same period of
2022.
First Nine
Months 2023 Operational and
Financial Highlights:
- Revenues from recommendation services was RMB566.4 million (US$77.6
million) in the first nine months of 2023, compared with
RMB560.4 million in the same period
of 2022. Revenues from recommendation services for loans increased
by 27.3% to RMB248.4 million
(US$34.0 million) in the first nine
months of 2023 from RMB195.2 million
in the same period of 2022, primarily due to the increase in the
number of loan applications. Revenues from recommendation services
for credit cards decreased by 12.9% to RMB318.0 million (US$43.6
million) in the first nine months of 2023 from RMB365.2 million in the same period of 2022,
primarily due to the decrease in the credit card volume.
- Revenues from big data and system-based risk management
services was RMB69.6 million
(US$9.5 million) in the first nine
months of 2023, compared with RMB68.0
million in the same period of 2022.
- Revenues from marketing and other services[1]
increased by 72.1% to RMB194.5
million (US$26.7 million) in
the first nine months of 2023 from RMB113.0
million in the same period of 2022. The increase was mainly
attributable to the growth of insurance brokerage services and
other new businesses.
- Loss from operations was RMB42.9
million (US$5.9 million) in
the first nine months of 2023, compared with RMB122.4 million in the same period of 2022.
Operating loss margin was 5.2% in the first nine months of 2023,
compared with 16.5% in the same period of 2022. The improvement of
loss from operations was mainly attributable to the increase in
revenues and the decrease in operating expenses resulting from
efficiency improvement and cost optimization.
- Net loss was RMB28.1 million
(US$3.9 million) in the first nine
months of 2023, compared with RMB114.1
million in the same period of 2022. Net loss margin was 3.4%
in the first nine months of 2023, compared with 15.4% in the same
period of 2022.
- Non-GAAP adjusted net loss[2] was RMB32.3 million (US$4.4
million) in the first nine months of 2023, compared with
RMB92.2 million in the same period of
2022. Non-GAAP adjusted net loss margin[2] was 3.9% in
the first nine months of 2023, compared with 12.4% in the same
period of 2022.
Mr. David Ye, Co-founder,
Chairman and Chief Executive Officer of Jianpu, commented, "We have
made progress in navigating the challenging environment and
executing our diversification strategy since earlier this year,
resulting in an increase of 12.0% year-over-year of our total
revenue to RMB830.5 million
(US$113.8 million) during the first
nine months. Through our continued efforts to enhance operational
efficiency and to optimize cost structure, our
ROI[3] experienced a remarkable 5.9 percentage
points increase year-over-year, reaching 141.2%, and our net loss
was RMB6.4 million (US$0.9 million) in the third quarter of
2023."
"Moreover, we are cognizant of the immense opportunities coming
with the advancement of AI, and will target to develop flexible and
low-coupling AI solutions with coverage in AI product architecture,
and will continue to empower our ecosystem partners in their
digital transformation with digital technology and artificial
intelligence," concluded Mr. Ye.
"During the third quarter of 2023, we persistently focused on
achieving a diversified revenue structure, improving operating
efficiency and executing cost optimization initiatives. In this
quarter, our loan recommendation services and marketing and other
services[1] continued to grow, leading to a more
balanced revenue structure. Driven by our improved productivity and
continued efficiency improvement, we trimmed our Non-GAAP adjusted
net loss[2] significantly by 40.4% year-over-year
to RMB5.6 million (US$0.8 million) in the third quarter of
2023," said Oscar Chen, Chief
Financial Officer of Jianpu.
Third Quarter 2023 Financial
Results
Total revenues for the third quarter of 2023 decreased by
4.9% to RMB255.6 million
(US$35.0 million) from RMB268.8 million in the same period of 2022. The
decrease was mainly attributable to the decrease in revenues from
recommendation services, partially offset by the increase of
revenues from marketing and other services[1].
Revenues from recommendation services decreased by
9.6% to RMB191.2 million
(US$26.2 million) in the third
quarter of 2023 from RMB211.6 million in the same period of
2022.
Revenues from recommendation services for
credit cards decreased by 31.8% to RMB88.3 million (US$12.1 million) in the third quarter of
2023 from RMB129.5 million in
the same period of 2022. As certain credit card issuers lowered
their marketing budget from the second quarter of 2023, credit card
volume decreased by 27.3% to approximately
0.8 million in the third quarter of 2023 from
1.1 million in the same period of 2022. The average fee per
credit card was RMB115.2 (US$15.8) and RMB116.4 in the third quarters of
2023 and 2022, respectively.
Revenues from recommendation services for
loans increased by 25.3% to RMB102.9 million (US$14.1 million) in the third quarter of
2023 from RMB82.1 million
in the same period of 2022, primarily due to an increase in the
number of loan applications. The number of loan applications
was approximately 7.4 million in the third quarter of 2023,
representing a 48.0% increase from that in the same period of
2022. The average fee per loan application was RMB14.0 (US$1.9) and RMB16.5 in the third quarters of
2023 and 2022, respectively.
Revenues from big data and system-based risk management
services decreased by 24.4% to RMB18.9 million (US$2.6 million) in the third quarter of
2023 from RMB25.0 million
in the same period of 2022, primarily due to the deconsolidation of
Newsky Wisdom in the second quarter of 2023. The decline
was also caused by a gradual shift of our business model of
data-based risk management services towards the cooperation with
the licensed credit reporting agencies. Through the cooperation,
which is mandated by the relevant PRC regulation, we, together
with the licensed credit reporting agencies, provide data-based
risk management services to the financial institutions and share
the economic interests accordingly.
Revenues from marketing and other services[1]
increased by 41.3% to RMB45.5 million
(US$6.2 million) in the third quarter
of 2023 from RMB32.2 million in the
same period of 2022, primarily due to the growth of the Company's
insurance brokerage services and other new businesses.
Cost of promotion and acquisition decreased by 7.0% to
RMB167.6 million (US$23.0 million) in the third quarter of 2023
from RMB180.2 million in the same period of 2022. The
decrease was primarily due to the efficiency improvements and, to a
lesser extent, the decrease in revenues from recommendation
services.
Cost of operation decreased by 30.5% to
RMB14.6 million (US$2.0 million) in the third quarter of
2023 from RMB21.0 million
in the same period of 2022. The decrease was primarily
attributable to the decrease in data acquisition costs, as
well as the decrease in software development and maintenance
costs related to the big data and system-based risk management
services, which partially resulted from the deconsolidation of
Newsky Wisdom.
Sales and marketing expenses
was RMB33.2 million (US$4.6 million) in the third quarter of
2023, compared with RMB34.5 million in the same period of
2022. The decrease was primarily due to the decreases in
payroll expenses, rental expenses, and travel and
entertainment expenses, partially offset by an increase in client
service-related expenses.
Research and development expenses decreased by 8.4%
to RMB26.2 million (US$3.6 million) in the third quarter of
2023 from RMB28.6 million
in the same period of 2022, primarily due to the decreases in
payroll expenses and rental expenses resulting from the Company's
continued efforts in cost optimization.
General and administrative expenses
was RMB22.6 million (US$3.1 million) in the third quarter of
2023, compared with RMB23.0 million in the same period of
2022. The change was primarily due to the decreases in rental
expenses and travel and entertainment expenses, partially offset
by the increases in allowance for credit losses and payroll
expenses.
Impairment of goodwill and intangible assets was
RMB13.3 million in the third
quarter of 2022 related to the impairment of the goodwill and
intangible assets of Newsky Wisdom, 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
2023.
Loss from operations was RMB8.7
million (US$1.2 million) in
the third quarter of 2023, compared with RMB31.9 million in the same period of 2022.
Operating loss margin was 3.4% in the third quarter of 2023,
compared with 11.9% in the same period of 2022. The decrease in
operating loss was mainly attributable to the decrease in costs and
expenses resulting from efficiency improvement and cost
optimization.
Others, net decreased by 97.3% to RMB0.2 million (US$0.0
million) in the third quarter of 2023 from RMB7.5 million in the same period of 2022. The
decrease was mainly attributable to the decrease in tax benefits
for value-added tax.
Net loss was RMB6.4 million (US$0.9 million) in the third quarter of
2023 compared with RMB25.1 million in the same period of 2022.
Net loss margin was 2.5% in the third quarter of 2023,
compared with 9.3% in the same period of 2022.
Non-GAAP adjusted net loss[2], 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 RMB5.6 million
(US$0.8 million) in the third quarter
of 2023, compared with RMB9.4 million
in the same period of 2022. Non-GAAP adjusted net loss
margin[2] was 2.2% in the third quarter of 2023 compared
with 3.5% in the same period of 2022.
Non-GAAP adjusted EBITDA[5], 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 2023 was a loss of RMB6.6 million (US$0.9
million), compared with a loss of RMB7.2 million in the same period of 2022.
As of September 30, 2023, the
Company had cash and cash equivalents, time deposits and restricted
cash and time deposits of RMB687.3
million (US$94.2 million) and
working capital of approximately RMB350.0
million (US$48.0 million).
Compared to those as of December 31,
2022, cash and cash equivalents, time deposits and
restricted cash and time deposits increased by RMB3.1 million.
First Nine Months 2023 Financial
Results
Total revenues for the first nine months of 2023
increased by 12.0% to RMB830.5
million (US$113.8 million)
from RMB741.4 million in the same
period of 2022. The increase was mainly attributable to the
increase in revenues from marketing and other
services[1].
Revenues from recommendation services was RMB566.4 million (US$77.6
million) in the first nine months of 2023, compared with
RMB560.4 million in the same period
of 2022.
Revenues from recommendation services for
credit cards decreased by 12.9% to RMB318.0 million (US$43.6 million) in the first nine months of
2023 from RMB365.2 million
in the same period of 2022. As certain credit card issuers
lowered their marketing budget from the second quarter of
2023, credit card volume in the first nine months of
2023 decreased by 12.5% to approximately 2.8 million from
3.2 million in the same period of 2022. The average fee per
credit card were RMB114.3
(US$15.7) and RMB113.4 in the first nine months of
2023 and 2022, respectively.
Revenues from recommendation services for
loans increased by 27.3% to RMB248.4 million (US$34.0 million) in the first nine months of
2023 from RMB195.2 million
in the same period of 2022, primarily due to the increase in
the number of loan applications. The number of loan
applications was approximately 17.1 million in the first nine
months of 2023, representing a 29.5% increase from that in the
same period of 2022. The average fee per loan application was
RMB14.6 (US$2.0) and
RMB14.8 in the first nine
months of 2023 and 2022, respectively.
Revenues from big data and system-based risk management
services was RMB69.6 million (US$9.5 million) in the first nine months of
2023, compared with RMB68.0 million in the same period of
2022.
Revenues from marketing and other services[1]
increased by 72.1% to RMB194.5
million (US$26.7 million) in
the first nine months of 2023 from RMB113.0
million in the same period of 2022, primarily due to the
growth of the Company's insurance brokerage services and other new
businesses.
Cost of promotion and acquisition increased by 9.1% to
RMB569.1 million (US$78.0 million) in the first nine months of 2023
from RMB521.5 million in the same
period of 2022, primarily due to the growth of the Company's
revenues from marketing and other services[1].
Cost of operation decreased by 11.5% to RMB53.0 million (US$7.3
million) in the first nine months of 2023 from
RMB59.9 million in the same period of
2022. The decrease was primarily attributable to the decreases
in data acquisition costs, as well as the decrease in software
development and maintenance costs related to the big data and
system-based risk management services, which partially resulted
from the deconsolidation of Newsky Wisdom.
Sales and marketing expenses was RMB97.9 million (US$13.4 million) in the first nine
months of 2023, compared with RMB101.6
million in the same period of 2022. The decrease was
primarily due to the decreases in payroll expenses, rental expenses
and marketing and advertising expenses, partially offset by an
increase in client service-related expenses.
Research and development expenses decreased by
13.5% to RMB75.9 million
(US$10.4 million) in the first nine
months of 2023 from RMB87.7 million in the same period of 2022,
primarily due to the decreases in payroll expenses, rental expenses
and share-based compensation expenses resulting from our
continued efforts in cost optimization.
General and administrative expenses
was RMB77.5 million (US$10.6 million) in the first nine
months of 2023 from RMB79.9 million in the same period of 2022,
the change was primarily due to the decreases in rental
expenses, share-based compensation expenses and travel and
entertainment expenses, partially offset by an increase in
professional fees.
Impairment of goodwill and intangible assets was
RMB13.3 million in the first nine
months of 2022 related to the impairment of the goodwill and
intangible assets of Newsky Wisdom. There was no such impairment
loss in the same period of 2023.
Loss from operations was RMB42.9
million (US$5.9 million) in
the first nine months of 2023, compared with RMB122.4 million in the same period of 2022.
Operating loss margin was 5.2% in the first nine months of 2023,
compared with 16.5% in the same period of 2022. The decrease in
operating loss was mainly attributable to the increase in revenues
and the decrease in operating expenses resulting from efficiency
improvement and cost optimization.
Others, net decreased by 9.5% to
RMB10.5 million (US$1.4 million) in the first nine months of
2023 from RMB11.6 million
in the same period of 2022. The decrease was mainly attributable to
the decrease in tax benefits of value-added tax, partially offset
by the investment gain from the deconsolidation of Newsky
Wisdom[4] in the first nine months of
2023.
Net loss was RMB28.1
million (US$3.9 million) in
the first nine months of 2023 compared with RMB114.1 million in the same period of 2022. Net
loss margin was 3.4% in the first nine months of 2023 compared with
15.4% in the same period of 2022.
Non-GAAP adjusted net loss[2], 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 RMB32.3 million
(US$4.4 million) in the first nine
months of 2023, compared with RMB92.2
million in the same period of 2022. Non-GAAP adjusted net
loss margin[2] was 3.9%
in the first nine months of 2023 compared with 12.4% in the same
period of 2022.
Non-GAAP adjusted EBITDA[5], 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 2023 was a loss of RMB33.3 million (US$4.6
million), compared with a loss of RMB84.7 million in the same period of 2022.
Subsequent Event
In August 2023, the Group entered
into a share transfer agreement with a third-party buyer to sell
its remaining 15% equity interests in Newsky Wisdom. The
transaction was completed in late October
2023. The Group received all of the considerations and
recognized the related investment gains in October 2023.
Conference Call
The Company's management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on
November 24, 2023 (9:00 PM Beijing/Hong Kong Time on November 24, 2023).
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 1, 2023, by dialing the following
telephone numbers:
|
United States (toll
free):
|
1-877-344-7529
|
|
International:
|
1-412-317-0088
|
|
Replay Access
Code:
|
9027544
|
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 and investment gain of
deconsolidation of subsidiaries. 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) Liting Lu, E-mail:
IR@rong360.com
(PR) Amanda Hu, E-mail:
Media@rong360.com
Tel: +86 (10) 6242 7068
Christensen
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
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,
|
|
2022
|
|
2023
|
|
RMB
|
|
RMB
|
|
US$
|
|
ASSETS
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash
and cash equivalents
|
346,539
|
|
271,708
|
|
37,241
|
|
Time
deposits
|
-
|
|
89,826
|
|
12,312
|
|
Restricted time deposits
|
297,634
|
|
282,175
|
|
38,675
|
|
Accounts receivable, net
|
189,665
|
|
186,998
|
|
25,630
|
|
Amount due from related parties
|
153
|
|
157
|
|
22
|
|
Prepayments and other current assets
|
46,537
|
|
41,444
|
|
5,680
|
|
Total current
assets
|
880,528
|
|
872,308
|
|
119,560
|
|
Non-current
assets:
|
|
|
|
|
|
|
Property and equipment, net
|
12,578
|
|
12,348
|
|
1,692
|
|
Intangible assets, net
|
18,339
|
|
19,496
|
|
2,672
|
|
Restricted cash and time deposits
|
40,059
|
|
43,576
|
|
5,973
|
|
Other non-current assets
|
10,758
|
|
12,400
|
|
1,700
|
|
Total non-current
assets
|
81,734
|
|
87,820
|
|
12,037
|
|
Total
assets
|
962,262
|
|
960,128
|
|
131,597
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Short-term borrowings
|
253,481
|
|
254,465
|
|
34,877
|
|
Accounts payable (including amounts billed through
related party of RMB5,652 and RMB2,682 as of
December 31, 2022 and September 30, 2023, respectively)
|
96,729
|
|
111,154
|
|
15,235
|
|
Advances from customers
|
46,920
|
|
46,612
|
|
6,389
|
|
Tax
payable
|
9,662
|
|
10,209
|
|
1,399
|
|
Amount due to related parties
|
13,534
|
|
12,115
|
|
1,660
|
|
Accrued expenses and other current liabilities
|
88,871
|
|
87,788
|
|
12,032
|
|
Total current
liabilities
|
509,197
|
|
522,343
|
|
71,592
|
|
Non-current
liabilities:
|
|
|
|
|
|
|
Deferred tax liabilities
|
3,644
|
|
3,425
|
|
469
|
|
Other non-current liabilities
|
13,096
|
|
12,200
|
|
1,672
|
|
Total non-current
liabilities
|
16,740
|
|
15,625
|
|
2,141
|
|
Total
liabilities
|
525,937
|
|
537,968
|
|
73,733
|
|
Shareholders'
equity:
|
|
|
|
|
|
|
Ordinary shares
|
286
|
|
286
|
|
39
|
|
Treasury stock, at cost
|
(77,499)
|
|
(73,735)
|
|
(10,106)
|
|
Additional paid-in capital
|
1,891,266
|
|
1,890,757
|
|
259,150
|
|
Accumulated losses
|
(1,424,153)
|
|
(1,452,071)
|
|
(199,023)
|
|
Statutory reserves
|
2,027
|
|
2,027
|
|
278
|
|
Accumulated other comprehensive income
|
37,941
|
|
54,304
|
|
7,445
|
|
Total Jianpu's
shareholders' equity
|
429,868
|
|
421,568
|
|
57,783
|
|
Noncontrolling interests
|
6,457
|
|
592
|
|
81
|
|
Total shareholders'
equity
|
436,325
|
|
422,160
|
|
57,864
|
|
Total liabilities
and shareholders' equity
|
962,262
|
|
960,128
|
|
131,597
|
|
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,
|
|
2022
|
2023
|
|
2022
|
2023
|
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
|
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
Recommendation
services:
|
|
|
|
|
|
|
|
|
|
Loans
[a]
|
|
82,114
|
102,915
|
14,106
|
|
195,186
|
248,394
|
34,045
|
|
Credit
cards
|
|
129,454
|
88,300
|
12,103
|
|
365,229
|
317,993
|
43,585
|
|
Total recommendation
services
|
|
211,568
|
191,215
|
26,209
|
|
560,415
|
566,387
|
77,630
|
|
Big data and
system-based risk
management services [b]
|
|
24,983
|
18,877
|
2,587
|
|
68,000
|
69,617
|
9,542
|
|
Marketing and other
services [b] [1]
|
|
32,244
|
45,499
|
6,236
|
|
113,002
|
194,508
|
26,660
|
|
Total
revenues
|
|
268,795
|
255,591
|
35,032
|
|
741,417
|
830,512
|
113,832
|
|
Costs and
expenses:
|
|
|
|
|
|
|
|
|
|
Cost of promotion and
acquisition [c]
|
|
(180,200)
|
(167,634)
|
(22,976)
|
|
(521,488)
|
(569,132)
|
(78,006)
|
|
Cost of operation
[d]
|
|
(20,985)
|
(14,598)
|
(2,001)
|
|
(59,893)
|
(52,951)
|
(7,258)
|
|
Total cost of
services
|
|
(201,185)
|
(182,232)
|
(24,977)
|
|
(581,381)
|
(622,083)
|
(85,264)
|
|
Sales and marketing
expenses
|
|
(34,539)
|
(33,227)
|
(4,554)
|
|
(101,561)
|
(97,917)
|
(13,421)
|
|
Research and
development expenses [e]
|
|
(28,617)
|
(26,229)
|
(3,595)
|
|
(87,685)
|
(75,929)
|
(10,407)
|
|
General and
administrative expenses
|
|
(23,044)
|
(22,645)
|
(3,104)
|
|
(79,875)
|
(77,524)
|
(10,626)
|
|
Impairment of goodwill
and intangible
assets
|
|
(13,327)
|
-
|
-
|
|
(13,327)
|
-
|
-
|
|
Loss from
operations
|
|
(31,917)
|
(8,742)
|
(1,198)
|
|
(122,412)
|
(42,941)
|
(5,886)
|
|
Net interest
expenses
|
|
(1,218)
|
2,072
|
284
|
|
(4,122)
|
4,106
|
563
|
|
Others, net
|
|
7,472
|
193
|
26
|
|
11,643
|
10,488
|
1,438
|
|
Loss before income
tax
|
|
(25,663)
|
(6,477)
|
(888)
|
|
(114,891)
|
(28,347)
|
(3,885)
|
|
Income tax
benefits
|
|
588
|
81
|
11
|
|
837
|
243
|
33
|
|
Net loss
|
|
(25,075)
|
(6,396)
|
(877)
|
|
(114,054)
|
(28,104)
|
(3,852)
|
|
Less: net
income/(loss) attributable to
noncontrolling interests
|
|
(7,562)
|
326
|
45
|
|
(9,968)
|
(186)
|
(25)
|
|
Net loss
attributable to Jianpu
Technology Inc.
|
|
(17,513)
|
(6,722)
|
(922)
|
|
(104,086)
|
(27,918)
|
(3,827)
|
|
Accretion of mezzanine
equity
|
|
-
|
-
|
-
|
|
(8,740)
|
-
|
-
|
|
Net loss
attributable to Jianpu's
shareholders
|
|
(17,513)
|
(6,722)
|
(922)
|
|
(112,826)
|
(27,918)
|
(3,827)
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive
income
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
|
33,676
|
(3,698)
|
(507)
|
|
63,062
|
16,320
|
2,237
|
|
Total other
comprehensive
income/(loss)
|
|
33,676
|
(3,698)
|
(507)
|
|
63,062
|
16,320
|
2,237
|
|
Total
comprehensive income/(loss)
|
|
8,601
|
(10,094)
|
(1,384)
|
|
(50,992)
|
(11,784)
|
(1,615)
|
|
Less: total
comprehensive income/(loss)
attributable to noncontrolling interests
|
|
(7,581)
|
309
|
42
|
|
(9,818)
|
(229)
|
(31)
|
|
Total comprehensive
income/(loss)
attributable to Jianpu Technology
Inc.
|
|
16,182
|
(10,403)
|
(1,426)
|
|
(41,174)
|
(11,555)
|
(1,584)
|
|
Accretion of mezzanine
equity
|
|
-
|
-
|
-
|
|
(8,740)
|
-
|
-
|
|
Total comprehensive
income/(loss)
attributable to Jianpu's shareholders
|
|
16,182
|
(10,403)
|
(1,426)
|
|
(49,914)
|
(11,555)
|
(1,584)
|
|
|
|
|
|
|
|
|
|
|
Net loss per share
attributable to
Jianpu's shareholders
|
|
|
|
|
|
|
|
|
|
Basic
|
|
(0.04)
|
(0.02)
|
(0.00)
|
|
(0.27)
|
(0.07)
|
(0.01)
|
|
Diluted
|
|
(0.04)
|
(0.02)
|
(0.00)
|
|
(0.27)
|
(0.07)
|
(0.01)
|
|
Net loss per
ADS attributable to
Jianpu's shareholders
|
|
|
|
|
|
|
|
|
|
Basic
|
|
(0.83)
|
(0.32)
|
(0.04)
|
|
(5.32)
|
(1.32)
|
(0.18)
|
|
Diluted
|
|
(0.83)
|
(0.32)
|
(0.04)
|
|
(5.32)
|
(1.32)
|
(0.18)
|
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
|
Basic
|
|
424,297,809
|
424,665,581
|
424,665,581
|
|
423,896,586
|
424,570,325
|
424,570,325
|
|
Diluted
|
|
424,297,809
|
424,665,581
|
424,665,581
|
|
423,896,586
|
424,570,325
|
424,570,325
|
|
|
[a]
Including revenues from related party of RMB282 and RMB413 for the
three months ended September 30, 2022 and 2023,respectively,
and RMB416 and RMB1,122 for the nine months ended September 30,
2022 and 2023, respectively.
|
|
[b]
Including revenues from related party of RMB1,486 and RMB447 for
the three months ended September 30, 2022 and 2023,
respectively,
and RMB3,818 and RMB2,075 for the nine months ended September 30,
2022 and 2023, respectively.
|
|
[c] Including cost of promotion and
acquisition from related party of RMB41 and RMB58 for the three
months ended September 30, 2022 and
2023, respectively, and RMB185 and RMB66 for the nine months ended
September 30, 2022 and 2023, respectively.
|
|
[d] Including cost of operation from
related party of RMB79 and RMB322 for the three months ended
September 30, 2022 and 2023,
respectively, and RMB283 and RMB793 for the nine months ended
September 30, 2022 and 2023, respectively.
|
|
[e] Including expenses from related
party of RMB157 and RMB146 for the three months ended September 30,
2022 and 2023, respectively,
and RMB524 and RMB402 for the nine months ended September 30, 2022
and 2023, 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,
|
|
2022
|
2023
|
|
2022
|
2023
|
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
|
Net loss
|
|
(25,075)
|
(6,396)
|
(877)
|
|
(114,054)
|
(28,104)
|
(3,852)
|
|
Add: Share-based
compensation
expenses
|
|
1,957
|
1,145
|
157
|
|
6,396
|
3,231
|
443
|
|
Investment impairment
loss
|
|
893
|
-
|
-
|
|
8,716
|
-
|
-
|
|
Impairment of goodwill
and intangible
assets
|
|
13,327
|
-
|
-
|
|
13,327
|
-
|
-
|
|
Investment gain of deconsolidation of
subsidiaries[4]
|
|
-
|
(355)
|
(49)
|
|
(6,149)
|
(7,412)
|
(1,016)
|
|
Tax effects on
Non-GAAP
adjustments[5]
|
|
(464)
|
-
|
-
|
|
(464)
|
-
|
-
|
|
Non-GAAP adjusted
net loss[2]
|
|
(9,362)
|
(5,606)
|
(769)
|
|
(92,228)
|
(32,285)
|
(4,425)
|
|
Add: Depreciation and
amortization
|
|
1,082
|
1,145
|
157
|
|
3,806
|
3,361
|
461
|
|
Net interest
expenses
|
|
1,218
|
(2,072)
|
(284)
|
|
4,122
|
(4,106)
|
(563)
|
|
Income tax
benefits
|
|
(124)
|
(81)
|
(11)
|
|
(373)
|
(243)
|
(33)
|
|
Non-GAAP adjusted
EBITDA[5]
|
|
(7,186)
|
(6,614)
|
(907)
|
|
(84,673)
|
(33,273)
|
(4,560)
|
|
[1] Starting
from the fourth quarter of 2022, the Company updated the
description of its revenue stream "advertising, marketing and other
services" to "marketing and other services" to provide more
relevant and clear information. It also updated the revenue
description in comparative periods to conform to the current
classification.
|
|
[2] 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.
|
|
[3] ROI
represents revenue of recommendation services, marketing and other
services divided by cost of promotion and acquisition.
|
|
[4] In May
2023, the Group (Jianpu, its subsidiaries, and VIEs together are
referred to as the "Group".) entered into a share transfer
agreement with the founder and minority shareholder of Newsky
Wisdom, which is one of the subsidiaries of the Group before the
completion of the share transfer. During the second quarter of
2023, according to the share transfer agreement, the Group
transferred 35.5% shares to the founder of Newsky Wisdom and
consequently became a minority shareholder of Newsky Wisdom, and
the Group no longer has control over Newsky Wisdom. The investment
gain of RMB7.1 million was recognized in the second quarter of 2023
accordingly.
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 Databook. The investment gain of
RMB6.1 million was realized in the second quarter of 2022, and
RMB17.0 million was realized in the fourth quarter of
2022.
|
|
[5] Non-GAAP
adjusted EBITDA represents EBITDA before share-based compensation
expenses, investment impairment loss, impairment of goodwill and
intangible assets and investment gain of deconsolidation of
subsidiaries. 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.
|
View original
content:https://www.prnewswire.com/news-releases/jianpu-technology-inc-reports-third-quarter-2023-unaudited-financial-results-301997138.html
SOURCE Jianpu Technology Inc.