Revenues increased 162.5% year-over-year in the first quarter of 2021
Number of POIs1 reached 716 thousand as of the end of the first quarter of 2021
HIGHLIGHTS FOR THE FIRST QUARTER OF 2021
- Revenues for the first quarter of 2021 were
RMB846.9 million (US$129.3 million 2), an increase of 162.5% from the first quarter of 2020. - As of
March 31, 2021 , our services were available in 716 thousand POIs, compared with 664 thousand as ofDecember 31, 2020 . - As of
March 31, 2021 , our available-for-use power banks3 were 5.6 million, compared with 5.4 million as ofDecember 31, 2020 . - As of
March 31, 2021 , cumulative registered users4 reached 235.8 million, implying the acquisition of 16.4 million newly registered users during the quarter. - Income from operations for the first quarter of 2021 was
RMB23.8 million (US$3.6 million ), compared to a loss from operations ofRMB129.2 million for the same period last year. - Net income for the first quarter of 2021 was
RMB15.1 million (US$2.3 million ), compared to a net loss ofRMB137.5 million for the same period last year. Adjusted net income5 for the first quarter of 2021 wasRMB23.2 million (US$3.5 million ), compared to an adjusted net loss ofRMB131.1 million in the same period last year.
“We delivered solid results for the first quarter of 2021 as we continue executing our core strategies of expanding the coverage of our mobile device charging service and improving operational efficiency,” said Mars
“Energy Monster is the leader within the industry in terms of efficiency,” said
“China’s mobile device charging service industry is poised to grow at a rapid pace driven by the growing supply and demand,” said
FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2021
Revenues were
- Revenues from mobile device charging business increased by 164.5% to
RMB816.8 million (US$124.7 million ) in the first quarter of 2021 fromRMB308.8 million in the same period of 2020. The increase was primarily on the back of the impact of COVID-19 on the first quarter of 2020 and was also attributable to the increase in the number of POIs and available-for-use power banks. - Revenues from power bank sales increased by 129.2% to
RMB25.0 million (US$3.8 million ) in the first quarter of 2021 fromRMB10.9 million in the same period of 2020. The increase was primarily on the back of the impact of COVID-19 on the first quarter of 2020 and was also attributable to the increase in the number of POIs and available-for-use power banks. - Revenues from other revenues, which mainly comprise of revenue from adverting services, increased by 71.5% to
RMB5.1 million (US$0.8 million ) in the first quarter of 2021 fromRMB3.0 million in the same period of 2020. The increase was primarily on the back of the impact of COVID-19 on the first quarter of 2020.
Cost of revenues increased by 14.5% to
Research and development expenses increased by 24.2% to
Sales and marketing expenses increased by 107.4% to
General and administrative expenses increased by 55.9% to
Income from operations for the first quarter of 2021 was
Net income for the first quarter of 2021 was
Net loss attributable to ordinary shareholders for the first quarter of 2021 was
As of March 31, 2021, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB2.2 billion (
On
Business Outlook
For the second quarter of 2021 ending
Conference Call Information
The Company will hold a conference call at
To participate in the conference call, please dial the following numbers:
International: | +65-6713-5330 |
+1-347-549-4094 | |
Mainland | 400-820-6895 |
China | +852-3018-8307 |
Event title: | Smart Share Global Limited First Quarter 2021 Earnings Conference Call |
Conference ID / Passcode: | 2663446 |
A telephone replay will be available through
International: | +61-2-8199-0299 |
+1-646-254-3697 | |
Mainland | 400-632-2162 |
China | +852-3051-2780 |
Access Code: | 2663446 |
A live and archived webcast of the conference call will also be available at the Company's investor relations website at https://ir.enmonster.com
About
For more information, please visit: https://ir.enmonster.com
Contact Us
Investor Relations
ir@enmonster.com
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the
NON-GAAP FINANCIAL MEASURE
In evaluating its business, the Company considers and uses non-GAAP adjusted net income/(loss) in reviewing and assessing its operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company presents this non-GAAP financial measure because it is used by management to evaluate operating performance and formulate business plans. The Company believes that this non-GAAP financial measure helps identify underlying trends in its business, provide further information about its results of operations, and enhance the overall understanding of its past performance and future prospects.
Non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP, and have limitations as analytical tools. The Company's non-GAAP financial measure does not reflect all items of expenses that affect its operations and does not represent the residual cash flow available for discretionary expenditures. Further, the Company's non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited. The Company compensates for these limitations by reconciling its non-GAAP financial measure to the nearest U.S. GAAP performance measure, which should be considered when evaluating performance. Investors and others are encouraged to review the Company's financial information in its entirety and not rely on a single financial measure.
The Company defines non-GAAP adjusted net income/(loss) as net income/(loss) excluding share-based compensation expenses and change in fair value of warrant liabilities in connection with a warrant to purchase Series A-1 Preferred Shares at a fixed price provided to one of the Company's shareholders. For more information on the non-GAAP financial measure, please see the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this press release.
Unaudited Consolidated Balance Sheets | ||||||||||
(In thousands, except share and per share data, unless otherwise noted) | ||||||||||
RMB | RMB | US$ | ||||||||
ASSETS | ||||||||||
Current assets: | ||||||||||
Cash and cash equivalents | 1,252,493 | 1,912,204 | 291,859 | |||||||
Restricted cash | 51,008 | 38,177 | 5,827 | |||||||
Short-term investments | 170,552 | 290,937 | 44,406 | |||||||
Accounts receivable, net | 18,743 | 21,237 | 3,241 | |||||||
Inventory | - | 659 | 101 | |||||||
Prepayments and other current assets | 253,020 | 274,425 | 41,885 | |||||||
Total current assets | 1,745,816 | 2,537,639 | 387,319 | |||||||
Non-current assets: | ||||||||||
Property,equipment and software, net | 963,453 | 927,412 | 141,551 | |||||||
Long-term prepayments to a related party | 23,591 | 28,439 | 4,341 | |||||||
Other non-current assets | 52,775 | 60,990 | 9,309 | |||||||
Total non-current assets | 1,039,819 | 1,016,841 | 155,201 | |||||||
Total assets | 2,785,635 | 3,554,480 | 542,520 | |||||||
LIABILITIES,MEZZANINE EQUITY AND SHAREHOLDERS'S DEFICIT | ||||||||||
Current liabilities: | ||||||||||
Short-term borrowings | 24,500 | - | - | |||||||
Accounts and notes payable | 406,760 | 394,457 | 60,206 | |||||||
Amounts due to related parties-current | 77,939 | 48,230 | 7,361 | |||||||
Salary and welfare payable | 72,436 | 80,414 | 12,274 | |||||||
Taxes payable | 7,134 | 4,970 | 759 | |||||||
Financing payable-current | 46,854 | 52,628 | 8,033 | |||||||
Accruals and other current liabilities | 219,212 | 222,664 | 33,986 | |||||||
Total current liabilities | 854,835 | 803,363 | 122,619 | |||||||
Non-current liabilities: | ||||||||||
Financing payable-non-current | 197,297 | 185,647 | 28,335 | |||||||
Amounts due to related parties-non-current | 1,000 | 1,000 | 153 | |||||||
Deferred tax liabilities,net | 33,891 | 32,609 | 4,977 | |||||||
Total non-current liabilities | 232,188 | 219,256 | 33,465 | |||||||
Total liabilities | 1,087,023 | 1,022,619 | 156,084 | |||||||
MEZZANINE EQUITY | ||||||||||
Mezzanine equity | 5,137,872 | 10,880,708 | 1,660,720 | |||||||
SHAREHOLDERS' DEFICIT | ||||||||||
Ordinary shares | 83 | 51 | 8 | |||||||
Statutory reserves | 16,592 | 16,592 | 2,532 | |||||||
Accumulated other comprehensive income | 201,823 | 102,787 | 15,688 | |||||||
Accumulated deficit | (3,657,758 | ) | (8,468,277 | ) | (1,292,512 | ) | ||||
Total shareholders' deficit | (3,439,260 | ) | (8,348,847 | ) | (1,274,284 | ) | ||||
Total liabilities, mezzanine equity and shareholders' deficit | 2,785,635 | 3,554,480 | 542,520 | |||||||
Unaudited Consolidated Statements of Comprehensive Income/(Loss) | ||||||||||
(In thousands, except share and per share data, unless otherwise noted) | ||||||||||
Quarter Ended | Quarter Ended | Quarter Ended | ||||||||
RMB | RMB | US$ | ||||||||
Revenues: | ||||||||||
Mobile device charging business | 308,776 | 816,763 | 124,662 | |||||||
Power bank sales | 10,913 | 25,011 | 3,817 | |||||||
Others | 2,976 | 5,104 | 779 | |||||||
Total revenues | 322,665 | 846,878 | 129,258 | |||||||
Cost of revenues | (108,812 | ) | (124,622 | ) | (19,021 | ) | ||||
Research and development expenses | (16,604 | ) | (20,628 | ) | (3,148 | ) | ||||
Sales and marketing expenses | (319,078 | ) | (661,675 | ) | (100,991 | ) | ||||
General and administrative expenses | (17,206 | ) | (26,819 | ) | (4,093 | ) | ||||
Other operating income | 9,825 | 10,705 | 1,634 | |||||||
(Loss)/Income from operations | (129,210 | ) | 23,839 | 3,639 | ||||||
Interest and investment income | 1,160 | 3,269 | 499 | |||||||
Interest expense to third parties | (8,846 | ) | (10,439 | ) | (1,593 | ) | ||||
Foreign exchange gains / (losses), net | (405 | ) | 2,441 | 373 | ||||||
Other (loss)/income, net | 180 | (201 | ) | (31 | ) | |||||
Change in fair value of warrant liabilities | (363 | ) | - | - | ||||||
(Loss)/Income before income tax expense | (137,484 | ) | 18,909 | 2,887 | ||||||
Income tax expense | - | (3,813 | ) | (582 | ) | |||||
Net (loss)/income | (137,484 | ) | 15,096 | 2,305 | ||||||
Accretion of convertible redeemable preferred shares | (133,684 | ) | (4,729,719 | ) | (721,896 | ) | ||||
Deemed dividend to preferred shareholders | - | (104,036 | ) | (15,879 | ) | |||||
Net loss attributable to ordinary shareholders of | (271,168 | ) | (4,818,659 | ) | (735,470 | ) | ||||
Net (loss)/income | (137,484 | ) | 15,096 | 2,305 | ||||||
Other comprehensive income | ||||||||||
Foreign currency translation adjustments, net of nil tax | (11,705 | ) | (99,036 | ) | (15,116 | ) | ||||
Total comprehensive loss | (149,189 | ) | (83,940 | ) | (12,811 | ) | ||||
Accretion of convertible redeemable preferred shares | (133,684 | ) | (4,729,719 | ) | (721,896 | ) | ||||
Deemed dividend to preferred shareholders | - | (104,036 | ) | (15,879 | ) | |||||
Comprehensive loss attributable to ordinary shareholders of | (282,873 | ) | (4,917,695 | ) | (750,586 | ) | ||||
Net loss per share attributable to ordinary shareholders of | ||||||||||
- basic and diluted | (6.29 | ) | (69.30 | ) | (10.58 | ) | ||||
Weighted average ordinary shares outstanding | ||||||||||
- basic and diluted | 43,118,186 | 69,535,853 | 69,535,853 | |||||||
Unaudited Reconciliation of GAAP and Non-GAAP Results | |||||||
(In thousands, except share and per share data, unless otherwise noted) | |||||||
Quarter Ended | Quarter Ended | Quarter Ended | |||||
RMB | RMB | US$ | |||||
Net (loss)/income | (137,484 | ) | 15,096 | 2,305 | |||
Add: | |||||||
Share-based compensation | 6,016 | 8,141 | 1,244 | ||||
Change in fair value of warrant liabilities | 363 | - | - | ||||
Adjusted net (loss)/income (non-GAAP) | (131,105 | ) | 23,237 | 3,549 | |||
_______________________
1 The Company defines number of points of interests, or POIs, as of a certain day as the total number of unique locations whose proprietors (location partners) have entered into contracts with us or our network partners on that day.
2 The
3 The Company defines available-for-use power banks as of a certain date as the number of power banks in circulation on that day.
4 The Company defines cumulative registered users as the total number of users who have agreed to register their mobile phone numbers with the Company via its mini programs since inception, and the number of cumulative registered users of the Company on a certain date is the number of unique mobile phone numbers that have been registered with the Company since inception on that date;
5 See the sections entitled “Non-GAAP Financial Measures” and “Unaudited Reconciliation of GAAP and Non-GAAP Results” for more information about the non-GAAP measures referred to in this press release.
Source:
2021 GlobeNewswire, Inc., source