IClick Interactive Asia : Second Quarter 2021 Results

Exhibit 99.1

FOR IMMEDIATE RELEASE

iClick Interactive Asia Group Limited

Reports 2021 Second-Quarter Unaudited Financial Results

- Record second quarter financial results -

• Enterprise Solutions achieves seventh consecutive quarter of record results -
• • Upsize share repurchase program by US$10 million to US$25 million -

Hong Kong, August 25, 2021 -- iClick Interactive Asia Group Limited ("iClick" or the "Company") (Nasdaq:

ICLK), a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced unaudited financial results for the second quarter ended June 30, 2021.

	Three Months Ended June 30,
				Percentage
	2021	2020		change
	(US$ in thousands)
	(Unaudited)
Financial Metrics:
Revenue
Marketing Solutions	64,610	52,969		22 %
Enterprise Solutions	13,392	5,144		160 %
Total revenue	78,002	58,113		34 %
Gross profit	24,337	16,615		46 %
Net income/(loss)	597	(21 )	N/M
Adjusted EBITDA1	6,137	5,158		19 %
Adjusted net income1	2,587	2,495		4 %
Diluted adjusted net income per ADS1	0.03	0.03		0 %
Operating Metrics:
Gross billing	194,193	132,793		46 %

Jian "T.J." Tang, Chairman, Chief Executive Officer and Co-Founder of iClick, said, "iClick reported record second quarter financial results as we continue to achieve robust growth in both Marketing and Enterprise Solutions. This strong performance is a testament to the value proposition of our integrated solutions for clients. We remain confident in our strong outlook given our solid execution and clear strategies to further penetrate the enormous private domain traffic markets that we address.

"We are excited to see Enterprise Solutions achieve record results for the seventh quarter in a row, with revenue of US$13.4 million, representing 160% year-over-year growth, while Marketing Solutions continues to deliver healthy growth, with revenues increasing by 22% year-over-year to US$64.6 million. Gross profits increased by 46%, outpacing revenue growth as we further grow our Marketing Solutions and higher-margin Enterprise Solutions businesses. Even as we continue to invest actively in Enterprise Solutions, we still managed to reach historical highs for adjusted EBITDA and adjusted net income, highlighting the strong economies of scale we have achieved in our Marketing Solutions business.

1 For more details on these non-GAAP financial measures, please see the tables captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release.

"Our key account and mid-tier client segments remain equally important growth drivers for our Enterprise Solutions sales. iClick's over 3,000 existing Marketing Solutions key account clients generate significant cross-selling opportunities, especially within industry verticals in which we have gained traction, such as cosmetics and food and beverage. As we grow the scale of our Enterprise Solutions business, we see the opportunity to replicate our success in these industry verticals. We are also further growing our presence in the mid-tier market and have received strong reception by clients for our high-value,easy-to-use SaaS tools and our unique implementation methodology that provides hands-on,appropriately-sized,team-led implementation delivery and guided integration.

"We are very pleased with the progress of our partnership with Baozun. In addition to completing our resource and systems integration, we are encouraged by the feedback we've received from top-tier clients on the enhanced value we are able to deliver through our joint end-to-end solutions. Together, we will focus on growing market share in China's enormous private domain traffic market.

"I am also pleased to report that I have been appointed to the role of chairman of the board of directors, in addition to serving as chief executive officer, so as to better consolidate the management and execution of the Company's strategic direction. On behalf of the board, I would like to thank our co-founder Sammy Hsieh for his enormous contributions as chairman for more than a decade, and I look forward to continuing to work with him as a member of our board of directors and enjoy the benefits of his counsel. In the meantime, we are increasing our share repurchase program from US$15 million to US$25 million as we remain highly confident of our long-term growth prospects despite short-term headwinds.

"In summary, we remain very well positioned to capitalize on the ongoing digital transformation in China. With the dedication of our employees and the support of our shareholders, we expect to capture additional market share and continue to produce sustainable growth through prudent management, zealous commitment to growth and innovation to drive excellence in all that we do."

Second Quarter 2021 Results:

Revenue for the second quarter of 2021 grew to US$78.0 million, up 34% from US$58.1 million for the same period of the prior year, attributable to the increase in contributions from Marketing Solutions and Enterprise Solutions.

Revenue from Marketing Solutions grew to US$64.6 million for the second quarter of 2021, up 22% from US$53.0 million for the second quarter of 2020, primarily as a result of growing market demand from specified action marketing campaigns.

Revenue from Enterprise Solutions was US$13.4 million for the second quarter of 2021, up approximately 160% from US$5.1 million for the second quarter of 2020, primarily due to the increasing need for online and offline consumer behavior data integration and digital transformation.

Gross profit for the second quarter of 2021 was US$24.3 million, representing a 46% increase compared with US$16.6 million for the second quarter of 2020, mainly due to continued expansion of the Marketing Solutions and contribution from higher-margin Enterprise Solutions.

Total operating expenses were US$23.4 million for the second quarter of 2021, compared with US$15.2 million for the second quarter of 2020, primarily due to incremental operating expenses incurred for the expansion of business scale, an additional expected credit loss provision, and an increase in share-based compensation expense.

Operating income was US$0.9 million for the second quarter of 2021, compared with an operating income of US$1.4 million for the second quarter of 2020. This decline was as a result of the increase in operating expenses which is partially offset by the growth in gross profit.

Net income totalled US$0.6 million for the second quarter of 2021, compared with net loss of US$0.02 million for the second quarter of 2020. This increase was mainly because the Company recorded the fair value losses of derivative liabilities and convertible notes of US$1.6 million and US$0.5 million, respectively, in the second quarter of 2020, which was partially offset by the decrease in operating income.

Net income attributable to the Company's shareholders per basic and diluted ADS for the second quarter of 2021 were US$0.02, compared with a net income attributable to the Company's shareholders per basic and diluted ADS of US$0.01 for the second quarter of 2020.

Adjusted EBITDA for the second quarter of 2021 was US$6.1 million, compared with US$5.2 million for the second quarter of 2020. For a reconciliation of the Company's adjusted EBITDA from net income/(loss), its most comparable GAAP measure, please refer to "Unaudited Reconciliations of GAAP and Non-GAAP Results."

Adjusted net income for the second quarter of 2021 was US$2.6 million, compared with an adjusted net income of US$2.5 million in the second quarter of 2020. For a reconciliation of the Company's adjusted net income from net income/(loss), its most comparable GAAP measure, please refer to "Unaudited Reconciliations of GAAP and Non-GAAP Results."

Gross billing2 was US$194.2 million for the second quarter of 2021, representing a 46% increase compared with US$132.8 million for the second quarter of 2020. The increase was a result of increasing marketers' demand especially from the banking and finance, automobile, and petroleum sectors.

As of June 30, 2021, the Company had cash and cash equivalents, time deposits and restricted cash of US$103.7 million, compared with US$94.5 million as of December 31, 2020.

Share Repurchase Program

On December 10, 2020, the Company announced a share repurchase program in which it may purchase its own ADSs with an aggregate value of up to US$15.0 million from December 30, 2020 to December 31, 2021. As of June 30, 2021, the aggregate value of purchased shares was approximately US$7.4 million. In addition, our board of directors authorized the Company to upsize the share repurchase program from US$15 million to US$25 million on August 25, 2021.

2 Gross billing is defined as the aggregate dollar amount that clients pay the Company after deducting rebates paid and discounts given to.

Outlook

Based on the information available as of the date of this press release, iClick provides the following outlook for the third quarter of 2021 and for the full year 2021:

Third Quarter 2021:

• Revenue from Enterprise Solutions is estimated to be between US$17 million and US$20 million.
• Revenue from Marketing Solutions is estimated to be between US$65 million and US$75 million.

Full Year 2021:

• Revenue is estimated to be between US$318 million and US$338 million.
• Revenue from Enterprise Solutions is estimated to be between US$62 million and US$68 million.

The above outlook is based on current market conditions and reflects the Company's preliminary estimates of market and operating conditions, expected foreign exchange fluctuation, and customer demand, which are all subject to change. Please also refer to the factors set out under the section titled "Safe Harbor Statement."

We note that the advertising budgets for our clients have continued to recover during the second quarter of 2021, as a result of the relaxation of restrictions on economic and social life due to a slowdown of COVID-19 cases in China. Based on the current commercial environment, we anticipate that brands may allocate more of their advertising budgets to mobile and online targeted marketing, with the potential to benefit our mobile and performance-focused Marketing Solutions business. Brands may also see the importance of online and offline consumer behavioural data integration and analysis, which may favour our Enterprise Solutions business in the long run. We remain vigilant in evaluating the risks posed by the current resurgence of Covid-19 and the potential impacts this represents to our expectations.

With iClick's diversified customer base of stable, top-tier brands and ongoing government efforts to contain the spread of the coronavirus amid the rollout of vaccine, we remain cautiously optimistic for 2021. However, outbreaks of COVID-19, including recent variants around the world may continue to impact market conditions and potentially trigger a longer period of global economic slowdown. This could affect the overall sentiment and advertising budgets of our branding customers, which in turn may impact our Marketing Solution business in the short term. The rapid development and fluidity of the current situation precludes any prediction as to the ultimate adverse impact of COVID-19. Management will continue to closely monitor the outbreak's impact on our operations and financial results this year and will particularly focus on business retention and accounts receivable recoverability.

Conference Call

The Company will host an earnings conference call at 8:00 AM U.S. Eastern Time on August 25, 2021 (8:00 PM Beijing/Hong Kong time on August 25, 2021). A live and archived webcast of the conference call will be available on iClick's investor relations website at http://ir.i-click.com.

Dial-in details for the conference call are as follows:

United States:	[phone]
International:	[phone]
Hong Kong:	[phone]
Mainland China:	[phone]

Participants please ask to join the iClick Interactive Asia Group Limited conference call.

A replay of the conference call will be accessible by phone one hour after the conclusion of the live call at the following numbers, until September 1, 2021:

United States:	[phone]
International:	[phone]
Canada:	[phone]
Replay Access Code:	50669674