Aurora Mobile Limited
Form 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2019

Commission File Number: 001-38587

 

 

Aurora Mobile Limited

 

 

3/F, Building No. 7, Zhiheng Industrial Park

No. 15, Guankou Road 2, Anle Community, Nantou Street, Nanshan District

Shenzhen, Guangdong, 518052

People’s Republic of China

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒                Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

AURORA MOBILE LIMITED
By:  

/s/ Shan-Nen Bong

Name:   Shan-Nen Bong
Title:   Chief Financial Officer

Date: March 1, 2019


Exhibit Index

Exhibit 99.1—Press Release

EX-99.1

Exhibit 99.1

 

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Aurora Mobile Limited Announces Fourth Quarter and Fiscal Year 2018

Unaudited Financial Results

SHENZHEN, CHINA – February 28, 2019 – Aurora Mobile Limited (“Aurora Mobile” or the “Company”) (NASDAQ:JG), a leading mobile big data solutions platform in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2018.

Fourth Quarter 2018 Financial Highlights

 

   

Revenues were RMB225.9 million (US$32.8 million), an increase of 102% year-over-year.

 

   

Cost of revenues was RMB163.6 million (US$23.8 million), an increase of 106% year-over-year.

 

   

Gross profit was RMB62.3 million (US$9.1 million), an increase of 90% year-over-year.

 

   

Total operating expenses were RMB86.8 million (US$12.6 million), an increase of 84% year-over-year.

 

   

Net loss was RMB23.6 million (US$3.4 million), compared with net loss of RMB14.8 million for the same period of last year.

 

   

Adjusted EBITDA (non-GAAP) was negative RMB3.5 million (US$0.5 million), compared with negative RMB10.2 million for the same period of last year.

Fiscal Year 2018 Financial Highlights

 

   

Revenues were RMB714.1 million (US$103.9 million), an increase of 151% year-over-year.

 

   

Cost of revenues was RMB517.1 million (US$75.2 million), an increase of 142% year-over-year.

 

   

Gross profit was RMB197.1 million (US$28.7 million), an increase of 176% year-over-year.

 

   

Total operating expenses were RMB289.9 million (US$42.2 million), an increase of 77% year-over-year.

 

   

Net loss was RMB66.2 million (US$9.6 million), compared with net loss of RMB90.3 million in 2017.

 

   

Adjusted EBITDA (non-GAAP) was negative RMB37.5 million (US$5.5 million), compared with negative RMB77.0 million in 2017.

 

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Fourth Quarter 2018 Operational Highlights

 

   

Number of mobile apps utilizing at least one of the Company’s developer services, or the cumulative app installations, increased to approximately 1,076,000 as of December 31, 2018 from approximately 707,000 as of December 31, 2017.

 

   

Number of monthly active unique mobile devices increased to 1.04 billion in December 2018 from 864 million in December 2017.

 

   

Cumulative SDK installations increased to 19.8 billion as of December 31, 2018 from 11.4 billion as of December 31, 2017.

 

   

Number of paying customers increased to 2,096 in the fourth quarter of 2018 from 1,379 in the fourth quarter of 2017.

Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented: “This is another very strong quarter. Since turning public in July 2018, we have successfully exceeded our goals in every quarter since. In the fourth quarter of 2018, the number of mobile applications that use our services grew from 707,000 at the end of 2017, to 991,000 as of September 30, 2018, and now to approximately 1,076,000 as of December 31, 2018.

The number of monthly active unique devices we covered increased from 864 million in December 2017 and 1.03 billion in September 2018 to 1.04 billion in December 2018. Cumulative SDK installations increased sequentially from 17.4 billion and 11.4 billion during the fourth quarter last year to 19.8 billion.

The number of paying customers increased from 1,877 last quarter and 1,379 during the fourth quarter of 2017 to 2,096 in the fourth quarter of 2018.”

“With this solid foundation in our operations, the fourth quarter revenues grew to RMB225.9 million from RMB196.8 million last quarter and RMB112.1 million during the fourth quarter last year, an increase of 15% sequentially and 102% year over year, respectively. We noted that both a higher number of paying customers and higher average spending per paying customer contributed to the increase in revenues.”

Mr. Fei Chen, President of Aurora Mobile, commented: “Developer services continued to show solid results where the revenues increased by 44% year-over-year from RMB12.1 million to RMB17.4 million, primarily due to growth in the number of paying customers from 858 to 1,265.

Within Data Solutions, targeted marketing revenue increased by 111% from RMB86.9 million to RMB183.2 million year-over-year. The increase was fueled by an increase in both the number of customers and the average spend per paying customer. Our targeted marketing business, which is purely performance based, continued to expand its customer base as well as increase customers’ wallet share. We have generated sequential growth in 8 consecutive quarters since we launched this business two years ago, despite the volatile advertising market environment. We believe our ability to generate higher ROI for our advertising customers contributed to this continued market share gain.

 

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Other vertical data solutions revenues increased by 93% year-over-year from RMB13.1 million to RMB25.3 million. This was mainly due to the 93% increase in the number of paying customers.”

Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, “We continued to record strong year-over-year growth in both the revenue and gross profit, of 102% and 90% respectively. Together with the scalability of our business model, we continued to narrow the Adjusted EBITDA to negative of RMB3.5 million in the fourth quarter of 2018, compared to a negative of RMB10.2 million in the same quarter last year and a negative of RMB6.9 million the quarter prior.”

 

 

Fourth Quarter 2018 Financial Results

Revenues were RMB225.9 million (US$32.8 million), an increase of 102% from RMB112.1 million in the same quarter of last year, mainly due to an increase in the number of customers by 52% from 1,379 in the fourth quarter of 2017 to 2,096 in the fourth quarter of 2018, and an increase in average spending per customer by 33% from RMB81,300 in the fourth quarter of 2017 to RMB107,800 in the fourth quarter of 2018.

Cost of revenues was RMB163.6 million (US$23.8 million), an increase of 106% from RMB79.3 million in the fourth quarter of 2017. The increase was mainly due to the increases in the cost of media inventory by RMB80.0 million, bandwidth cost by RMB3.2 million and depreciation of servers by RMB0.8 million.

Gross profit was RMB62.3 million (US$9.1 million), an increase of 90% from RMB32.8 million year-over-year, mainly due to the significant revenue growth during the same period.

Total operating expenses were RMB86.8 million (US$12.6 million), an increase of 84% from RMB47.2 million in the same quarter of last year.

 

   

Research and development expenses were RMB41.1 million (US$6.0 million), an increase of 91% from RMB21.5 million in the same quarter of last year, mainly due to increases in staff cost by RMB12.0 million, bandwidth and cloud cost by RMB3.5 million, and depreciation of servers by RMB2.1 million.

 

   

Sales and marketing expenses were RMB20.6 million (US$3.0 million), an increase of 20% from RMB17.2 million in the same quarter of last year, mainly due to an increase in the staff cost by RMB1.9 million and marketing expense of RMB0.8 million..

 

   

General and administrative expenses were RMB25.1 million (US$3.6 million), an increase of 195% from RMB8.5 million in the same quarter of last year, mainly due to increases in professional fees by RMB7.6 million and staff cost by RMB6.8 million.

 

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Loss from operations was RMB24.5 million (US$3.6 million), compared with RMB14.4 million in the same quarter of last year.

Net Loss was RMB23.6 million (US$3.4 million), compared with RMB14.8 million in the same quarter of last year.

Adjusted net loss (non-GAAP) was negative RMB12.5 million (US$1.8 million), compared with negative RMB13.0 million for the same period of last year.

Adjusted EBITDA (non-GAAP) was negative RMB3.5 million (US$0.5 million) compared with negative RMB10.2 million for the same period of last year.

As of December 31, 2018, the Company had cash and cash equivalents and restricted cash of RMB576.7 million (US$83.9 million), compared with RMB208.3 million as of December 31, 2017.

Fiscal Year 2018 Financial Results

Revenues were RMB714.1 million (US$103.9 million), an increase of 151% from RMB284.7 million in 2017, mainly due to both the increases in the number of customers and an increase in average spending per customer.

Cost of revenues was RMB517.1 million (US$75.2 million), an increase of 142% from RMB213.4 million in 2017. The increase was mainly due to increases in the cost of media inventory by RMB281.2 million, bandwidth cost by RMB10.0 million, staff cost by RMB3.5 million and depreciation of servers by RMB2.8 million.

Gross profit was RMB197.1 million (US$28.7 million), an increase of 176% from RMB71.3 million year-over-year, mainly due to the significant revenue growth during the same period.

Total operating expenses were RMB289.9 million (US$42.2 million), an increase of 77% from RMB163.8 million last year.

 

   

Research and development expenses were RMB134.4 million (US$19.5 million), an increase of 87% from RMB71.7 million in last year, mainly due to increases in staff cost by RMB42.3 million, bandwidth and cloud cost by RMB10.2 million, and depreciation of servers by RMB5.5 million.

 

   

Sales and marketing expenses were RMB83.9 million (US$12.2 million), an increase of 41% from RMB59.7 million last year, mainly due to increases in staff cost by RMB19.4 million and marketing expenses by RMB2.6 million.

 

   

General and administrative expenses were RMB71.6 million (US$10.4 million), an increase of 121% from RMB32.4 million in last year, mainly due to increases in professional fees by RMB13.9 million, staff cost by RMB14.3 million and bad debt provision of RMB4.0 million.

Loss from operations was RMB92.8 million (US$13.5 million), compared with RMB92.4 million in 2017.

 

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Net Loss was RMB66.2 million (US$9.6 million), compared with RMB90.3 million in 2017.

Adjusted net loss (non-GAAP) was RMB62.9 million (US$9.2 million), compared with RMB82.0 million in 2017.

Adjusted EBITDA (non-GAAP) was negative RMB37.5 million (US$5.5 million) compared with negative RMB77.0 million in 2017.

Business Outlook

For the first quarter of 2019, the Company expects total revenues to be between RMB228 million and RMB233 million, representing year-over-year growth of approximately 81% to 85%.

The above outlook is based on the current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

Update on Share Repurchase

On November 20, 2018, the Company announced that its board of directors had approved a share repurchase program, under which the Company may repurchase up to US$10 million of its shares over the following six months.

As of December 31, 2018, 69,455 ADS amounting to US$467,711 have been repurchased at the average purchase price of US$6.73.

Conference Call

The Company will host an earnings conference call on Thursday, February 28, 2019 at 7:00 a.m. U.S. Eastern Time (8:00 p.m. Hong Kong time on the same day).

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

 

International:    +65 6713-5090
U.S.:    +1 845-675-0437
Hong Kong:    +852 3018-6771
China:    400-620-8038
Passcode:    4554219

A telephone replay of the call will be available after the conclusion of the conference call through 9:00 p.m. U.S. Eastern Time, March 15, 2019.

 

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The dial-in details for the replay are as follows:

 

International:    +61 2 8199 0299
U.S. Toll Free:    1-855-452-5696
Passcode:    4554219

A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile’s website at http://ir.jiguang.cn/.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net loss and adjusted EBITDA, as a supplemental measures to review and assess its operating performance. The presentation of these non-GAAP financial measures 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 defines adjusted net loss as net loss excluding share-based compensation and change in fair value of derivative liability. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, income tax (expense) benefit, share-based compensation and change in fair value of derivate liability.

The Company believes that adjusted net loss and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss.

The Company believes that adjusted net loss and adjusted EBITDA 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 the management in their financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net loss and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release.

 

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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. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’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: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; 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 Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

About Aurora Mobile Limited

Founded in 2011, Aurora Mobile is a leading mobile big data solutions platform in China, and a pioneer in providing mobile developer services such as push notification, instant messaging, analytics, sharing and short message service (SMS). Aurora Mobile has accumulated data from approximately 1.08 million mobile applications that have utilized the Company’s developer services and nearly 19.8 billion installations of the Company’s software development kits (SDKs), with monthly active unique device base of nearly 1.04 billion, as of December 2018. Based on Aurora Mobile’s vast data coverage and insights garnered, the Company has expanded its offerings into big data solutions, including targeted marketing, financial risk management, market intelligence and location-based intelligence. By utilizing artificial intelligence and machine learning, Aurora Mobile strives to help improve productivity for businesses and society through harnessing the power of mobile big data to derive actionable insights and knowledge.

For more information, please visit http://ir.jiguang.cn/

For investor and media inquiries, please contact:

Aurora Mobile Limited

ir@jiguang.cn

 

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Christensen

In China

Mr. Christian Arnell

Phone: +86-10-5900-1548

E-mail: carnell@christensenir.com

In U.S.

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: lbergkamp@ChristensenIR.com

 

 

Footnote:

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB 6.8755 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of December 31, 2018.

 

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AURORA MOBILE LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS

(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

 

     Three months ended     Twelve months ended  
     December 31,     September 30,     December 31,     December 31,     December 31,  
   2017     2018     2018     2017     2018  
     RMB     RMB     RMB     US$     RMB     RMB     US$  

Revenues

     112,070       196,771       225,853       32,849       284,709       714,141       103,868  

Cost of revenues

     (79,275     (143,616     (163,554     (23,788     (213,370     (517,074     (75,205
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

     32,795       53,155       62,299       9,061       71,339       197,067       28,663  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating expenses

              

Research and development

     (21,489     (37,200     (41,134     (5,983     (71,651     (134,358     (19,542

Sales and marketing

     (17,199     (24,156     (20,637     (3,002     (59,673     (83,853     (12,196

General and administrative

     (8,486     (17,554     (25,067     (3,645     (32,431     (71,641     (10,419
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

     (47,174     (78,910     (86,838     (12,630     (163,755     (289,852     (42,157
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loss from operations

     (14,379     (25,755     (24,539     (3,569     (92,416     (92,785     (13,494
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Foreign exchange (loss) gain, net

     (550     921       338       49       (2,724     264       38  

Interest income

     67       965       2,553       371       314       3,657       532  

Interest expense

     (56     (2,494     (2,598     (377     (122     (7,054     (1,026

Other income

     120       5,772       641       93       677       8,449       1,229  

Change in fair value of derivative liability

     —         12,008       —         —         —         21,302       3,098  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loss before income taxes

     (14,798     (8,583     (23,605     (3,433     (94,271     (66,167     (9,623
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income tax (expenses)/benefit

     11       —         (35     (5     3,980       (30     (4
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss

     (14,787     (8,583     (23,640     (3,438     (90,291     (66,197     (9,627
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

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AURORA MOBILE LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS (continued)

(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share data)

 

     Three months ended     Twelve months ended  
     December 31,     September 30,     December 31,     December 31,     December 31,  
     2017     2018     2018     2017     2018  
     RMB     RMB     RMB     US$     RMB     RMB     US$  

Net loss attributable to Aurora Mobile Limited’s shareholders

     (14,787     (8,583     (23,640     (3,438     (90,291     (66,197     (9,627

Accretion of contingently redeemable convertible preferred shares

     (6,098     (2,938     —         —         (26,391     (24,094     (3,504
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss attributable to common shareholders

     (20,885     (11,521     (23,640     (3,438     (116,682     (90,291     (13,131
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss per share:

              

Basic

     (0.49     (0.17     (0.31     (0.05     (2.73     (1.57     (0.23

Diluted

     (0.49     (0.17     (0.31     (0.05     (2.73     (1.57     (0.23

Shares used in net loss per share computation:

              

Basic

     42,666,670       67,374,846       76,586,251       76,586,251       42,666,670       57,442,188       57,442,188  

Diluted

     42,666,670       67,374,846       76,586,251       76,586,251       42,666,670       57,442,188       57,442,188  

Other comprehensive loss

              

Foreign currency translation adjustments

     (1,776     8,160       9,212       1,340       (7,563     11,688       1,700  

Total other comprehensive loss, net of tax

     (1,776     8,160       9,212       1,340       (7,563     11,688       1,700  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Comprehensive loss

     (16,563     (423     (14,428     (2,098     (97,854     (54,509     (7,927
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Comprehensive loss attributable to Aurora Mobile Limited

     (16,563     (423     (14,428     (2,098     (97,854     (54,509     (7,927

 

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AURORA MOBILE LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEET

(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

 

     As of  
     December 31, 2017      December 31, 2018  
     RMB      RMB      US$  

ASSETS

        

Current assets:

        

Cash and cash equivalents

     208,161        576,562        83,857  

Restricted cash

     115        115        17  

Accounts receivable

     49,594        147,567        21,463  

Prepayments and other current assets

     34,228        80,578        11,719  

Amounts due from related parties

     1,260        4,564        664  
  

 

 

    

 

 

    

 

 

 

Total current assets

     293,358        809,386        117,720  
  

 

 

    

 

 

    

 

 

 

Non-current assets:

        

Other non-current assets

     1,806        14,237        2,071  

Long-term investments

     10,980        79,696        11,591  

Property and equipment, net

     53,023        92,874        13,508  

Intangible assets, net

     283        1,531        223  
  

 

 

    

 

 

    

 

 

 

Total non-current assets

     66,092        188,338        27,393  
  

 

 

    

 

 

    

 

 

 

Total assets

     359,450        997,724        145,113  
  

 

 

    

 

 

    

 

 

 

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT

        

Current liabilities:

        

Accounts payable

     8,340        18,811        2,736  

Deferred revenue and customer deposits

     49,557        65,139        9,474  

Accrued liabilities and other current liabilities

     52,639        76,666        11,151  

Amounts due to related parties

     6,110        8,864        1,289  
  

 

 

    

 

 

    

 

 

 

Total current liabilities

     116,646        169,480        24,650  
  

 

 

    

 

 

    

 

 

 

Non-current liabilities:

        

Other non-current liabilities

     216        140        20  

Deferred tax liabilities

     5        —          —    

Deferred revenue

     330        10,265        1,493  

Convertible notes

     —          216,179        31,442  
  

 

 

    

 

 

    

 

 

 

Total non-current liabilities

     551        226,584        32,955  
  

 

 

    

 

 

    

 

 

 

Total liabilities

     117,197        396,064        57,605  
  

 

 

    

 

 

    

 

 

 

 

3


AURORA MOBILE LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEET (continued)

(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share data)

 

     As of  
     December 31, 2017     December 31, 2018  
     RMB     RMB     US$  

Mezzanine equity

     466,637       —         —    

Shareholders’ (deficit) equity

      

Common shares

     26       48       7  

Treasury shares

     —         (3,165     (460

Additional paid-in capital

     13,689       944,500       137,372  

Accumulated deficit

     (234,810     (348,123     (50,632

Accumulated other comprehensive loss

     (3,289     8,400       1,221  
  

 

 

   

 

 

   

 

 

 

Total shareholders’ (deficit) equity

     (224,384     601,660       87,508  
  

 

 

   

 

 

   

 

 

 

Total liabilities, mezzanine equity and shareholders’ deficit

     359,450       997,724       145,113  
  

 

 

   

 

 

   

 

 

 

 

4


AURORA MOBILE LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

 

     Three months ended     Twelve months ended  
     December 31,     September 30,     December 31,     December 31,     December 31,  
     2017     2018     2018     2017     2018  
     RMB     RMB     RMB     US$     RMB     RMB     US$  

Reconciliation of Net Loss to Adjusted Net Loss:

              

Net loss

     (14,787     (8,583     (23,640     (3,438     (90,291     (66,197     (9,627

Add:

              

Share-based compensation

     1,767       6,493       11,174       1,625       8,275       24,561       3,572  

Change in fair value of derivative liability

     —         (12,008     —         —         —         (21,302     (3,098
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted net loss

     (13,020     (14,098     (12,466     (1,813     (82,016     (62,938     (9,153
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Reconciliation of Net Loss to Adjusted EBITDA:

              

Net loss

     (14,787     (8,583     (23,640     (3,438     (90,291     (66,197     (9,627

Add:

              

Interest expense

     56       2,494       2,598       377       122       7,054       1,026  

Depreciation of property and equipment

     2,791       4,599       6,160       896       8,805       18,084       2,630  

Amortization of intangible assets

     26       71       183       27       35       308       45  

Income tax benefit

     (11     —         35       5       (3,980     30       4  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

EBITDA

     (11,925     (1,419     (14,664     (2,133     (85,309     (40,721     (5,922

Add:

              

Share-based compensation

     1,767       6,493       11,174       1,625       8,275       24,561       3,572  

Change in fair value of derivative liability

     —         (12,008     —         —         —         (21,302     (3,098
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     (10,158     (6,934     (3,490     (508     (77,034     (37,462     (5,448
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

5