Aurora Mobile LimitedJGreported a second-quarter FY22 revenue decline of 14% year-on-year to $11.4 million, missing the consensus of $12.9 million.
Segments: Revenues from Developer Services reached $8.2 million, down 10% Y/Y, Subscription Services were $5.7 million, up 2% Y/Y, and Value-added-services within Developer Services declined 28.5% Y/Y to $2.5 million.
The gross margin contracted 550 bps to 70.2% as costs surged 5% Y/Y. EPS loss was $(0.04).
Adjusted EBITDA loss was $(1.2) million.
Aurora Mobile held $16.7 million in cash and equivalents.
Weidong Luo, Chair and CEO, commented, “Our Q2 results were largely conditioned by the turbulence from the impact of the widespread resurgence of COVID-19. And we have taken necessary steps and initiatives to proactively address obstacles and strengthen our management and operational capabilities to navigate through these tough times. Continuing the effort started in Q1’2022, we have shaved off more operating expenses, and we further reduced salary cost as we streamlined our workforce.”
Outlook: Aurora Mobile sees Q3 Developer Services – Subscription Services revenue achieve close to double-digit growth both Q/Q and Y/Y.
For Value-added Services, the overall market will take time to stabilize before the revenue can return to the historical level.
It looked to achieve a break-even Adjusted EBITDA balance for Q4.
Price Action: JG shares closed higher by 1.68% at $0.91 on Wednesday.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok
