Gridsum Holding Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Audited Consolidated Earnings Results for the Full Year Ended December 31, 2018; Provides Earnings Guidance for the Full Year of 2019
For the year, the company reported net revenues of RMB 431,247,000 against RMB 469,533,000 a year ago. Loss from operations was RMB 551,671,000 against RMB 219,184,000 a year ago. Net loss was RMB 522,545,000 against RMB 239,124,000 a year ago. Net loss per basic and diluted ordinary share was RMB 16.91 against RMB 7.90 per share a year ago. Net loss per ADS was RMB 16.91 against RMB 7.90 per share a year ago.
For the full year of 2019, the company expects to continue to stabilize its core businesses and regain growth momentum in 2019, with higher Enterprise revenues and substantial revenue growth in the judicial and IIoT verticals. On the back of front-end investment in its IIoT and related platform and solutions in 2018, the company is showing early signs of potentially emerging as a leader in certain verticals in this nascent but high-opportunity industry segment in China. Based on its current estimates and business trajectory, the company expects a return to double-digit growth in net revenues in 2019.