PR Newswire
BEIJING
,
April 12, 2022
/PRNewswire/ —
Jianpu Technology Inc.
(“Jianpu,” or the “Company”) (NYSE: JT), a leading independent open platform for discovery and recommendation of financial products in
China
, today announced its unaudited financial results for the six months and fiscal year ended
December 31, 2021
.
Second six months 2021 Operational and Financial Highlights:
-
The credit card volume and number of domestic loan applications for recommendation services respectively increased by 75.0% to approximately 2.1 million and 118.4% to approximately 8.3 million in the second six months of 2021. As a result, total revenues of recommendation services for the second six months of 2021 resumed growth, increasing by 71.4% to
RMB320.3 million
(
US$50.3 million
) from
RMB186.9 million
in the same period of 2020. -
Revenues from big data and system-based risk management services decreased by 10.4% to
RMB67.3 million
(
US$10.6 million
) in the second six months of 2021 from
RMB75.1 million
in the same period of 2020. The number of paying customers decreased by 27.5% in the second six months of 2021, compared with the same period of 2020. -
Revenues from advertising and marketing services and other services increased by 240.6% to
RMB73.9 million
(
US$11.6 million
) in the second six months of 2021 from
RMB21.7 million
in the same period of 2020. The increase was mainly attributable to the growth of insurance brokerage services and initiatives of other new businesses. -
Net loss was
RMB108.3 million
(
US$17.0 million
) in the second six months of 2021, compared with
RMB186.9 million
in the second six months of 2020. Net loss margin was 23.5% in the second six months of 2021, compared with 65.9% in the same period of 2020. -
Non-GAAP adjusted net loss
[1]
was
RMB96.7 million
(
US$15.2 million
) in the second six months of 2021, compared with Non-GAAP adjusted net loss of
RMB215.1 million
in the second six months of 2020. Non-GAAP adjusted net loss margin
[1]
was 21.0 % in the second six months of 2021, compared with 75.8% in the same period of 2020.
Fiscal year 2021 Operational and Financial Highlights:
-
The credit card volume and number of domestic loan applications for recommendation services respectively increased by 32.1% to approximately 3.7 million and 94.3% to approximately 13.6 million in the fiscal year of 2021. As a result, total revenues of recommendation services for the fiscal year of 2021 resumed growth, increasing by 42.2% to
RMB575.2 million
(
US$90.3 million
) from
RMB404.4 million
in the prior year. -
Revenues from big data and system-based risk management services decreased by 9.6% to
RMB130.4 million
(
US$20.5 million
) in the fiscal year of 2021 from
RMB144.2 million
in the prior year. The number of paying customers decreased by 12.2% in the fiscal year of 2021, compared with the prior year. -
Revenues from advertising and marketing services and other services increased by 167.2% to
RMB99.4 million
(
US$15.6 million
) in the fiscal year of 2021 from
RMB37.2 million
in the prior year. The increase was mainly attributable to the growth of insurance brokerage services and initiatives of other new businesses. -
Net loss was
RMB204.1 million
(
US$32.0 million
) in the fiscal year of 2021, compared with
RMB312.1 million
in the prior year. Net loss margin was 25.4% in the fiscal year of 2021, compared with 53.3% in the prior year. -
Non-GAAP adjusted net loss
[1]
was
RMB186.7 million
(
US$29.3 million
) in the fiscal year of 2021, compared with Non-GAAP adjusted net loss of
RMB333.4 million
in the prior year. Non-GAAP adjusted net loss margin
[1]
was 23.2% in the fiscal year of 2021, compared with 56.9% in the prior year.
Mr.
David Ye
, Co-founder, Chairman, and Chief Executive Officer of Jianpu, commented, “We are pleased to announce that we successfully turned our business around in 2021, with total revenue up 37.4% year-on-year. We managed this via a more diversified and balanced revenue structure. By leveraging our integrated marketing capabilities, we have improved our business efficiency, whilst also expanding our business into other Non-financial categories. We continued to expand our efforts in empowering financial institutions’ digital transformation, and now cooperate with 46 banks and have helped the issuance of over 23 million credit cards cumulatively. There were significant client wins for our big data and system-based risk management services, and our cost optimization initiatives drove margin improvements resulting in a narrowing of Non-GAAP adjusted net loss by 44%.
“These results were primarily driven by our experience navigating through turbulence, our readiness to make changes and adapt to a dynamic environment, and the effective execution of strategies and solid technological capabilities. As part of our vision of “Becoming everyone’s financial partner”, we are continuously innovating our technologies and exploring new growth drivers as we push forth our mission of empowering users and enabling the digital transformation of financial service providers to better serve them.”
Mr.
Oscar Chen
, Chief Financial Officer of Jianpu, said, “Our second-half and full year results reflect our continuous efforts in business development and optimization, as we continue to capitalize on the ongoing digitization of the financial industry. Despite the tightening macro environment and ongoing pandemic, our business made a turnaround with second-half total revenue up 62.7% year-on-year to
RMB461.5 million
and fiscal year 2021 revenue up 37.4% to
RMB805.0 million
. As we continue to make solid progress on our business optimization strategy, our Non-GAAP adjusted net loss continued to narrow. We are also pursuing new opportunities to further diversify our business through leveraging our existing foundation and technologies. The application of omnichannel marketing solutions towards other adjacent categories have delivered strong revenue growth. We believe the scalability and resilience of our business model, as well as our team’s capability to navigate through and adapt to the dynamic environment, will ultimately drive long-term value to our shareholders.”
Second six months 2021 Financial Results
Total revenues
for the second six months of 2021 increased by 62.7% to
RMB461.5 million
(
US$72.4 million
) from
RMB283.6 million
in the same period of 2020.
Total revenues from recommendation services
increased by 71.4% to
RMB320.3 million
(
US$50.3 million
) in the second six months of 2021 from
RMB186.9 million
in the same period of 2020.
Revenues from recommendation services for credit cards
increased by 84.2% to
RMB228.0 million
(
US$35.8 million
) in the second six months of 2021 from
RMB123.8 million
in the same period of 2020. Credit card volume in the second six months of 2021 and 2020 were approximately 2.1 million and 1.2 million, respectively. The average fee per credit card increased to
RMB109.9
(US$17.3)
in the second six months of 2021 from
RMB106.1
in the same period of 2020.
Revenues from recommendation services for loans
increased by 46.4% to
RMB92.4 million
(
US$14.5 million
) in the second six months of 2021 from
RMB63.1 million
in the same period of 2020, primarily due to the increase in number of loan applications on our platform. The number of domestic loan applications on the Company’s platform was approximately 8.3 million in the second six months of 2021, representing an increase of approximately 118.4% from the same period of 2020. The average fee per domestic loan application decreased to
RMB10.5
(US$1.6)
in the second six months of 2021 from
RMB12.7
in the same period of 2020. The recommendation revenue of loans generated from overseas markets accounted for 5.4% of total loan recommendation revenues in the second six months of 2021, less contribution than the same period of 2020. The global COVID-19 pandemic and the associated inability to travel globally has negatively impacted our overseas business.
Revenues from big data and system-based risk management services
decreased by 10.4% to
RMB67.3 million
(
US$10.6 million
) in the second six months of 2021 from
RMB75.1 million
in the same period of 2020, primarily due to the decrease of the number of paying customers in the second six months of 2021.
Revenues from advertising and marketing services and other services
increased by 240.6% to
RMB73.9 million
(
US$11.6 million
) in the second six months of 2021 from
RMB21.7 million
in the same period of 2020, primarily due to the growth of insurance brokerage services and initiatives of other new businesses.
Cost of promotion and acquisition
[3]
increased by 72.5% to
RMB334.9 million
(
US$52.5 million
) in the second six months of 2021 from
RMB194.2 million
in the same period of 2020. The increase was in line with the growth of our revenue from recommendation services, advertising and marketing services and other services.
Cost of operation
decreased by 11.4 % to
RMB45.1 million
(
US$7.1 million
) in the second six months of 2021 from
RMB50.9 million
in the same period of 2020. The decrease was primarily attributable to the decrease in depreciation expenses, payroll costs and bandwidth and server costs, partially offset by the increase in data acquisition costs.
Sales and marketing expenses
increased by 9.0% to
RMB68.8 million
(
US$10.8 million
) in the second six months of 2021 from
RMB63.1 million
in the same period of 2020. The increase was primarily due to the increase in sales and marketing staff for new businesses.
Research and development expenses
decreased by 21.2% to
RMB62.4 million
(
US$9.8 million
) in the second six months of 2021 from
RMB79.2 million
in the same period of 2020, primarily due to the continued cost optimization measures.
General and administrative expenses
decreased by 0.4% to
RMB72.2 million
(
US$11.3 million
) in the second six months of 2021 from
RMB72.5 million
in the same period of 2020, primarily due to the decrease in professional fees and allowance for credit losses, partially offset by the increase in share-based compensation expenses and payroll expenses.
Others, net
increased by 137.9% to
RMB15.7 million
(
US$2.5 million
) in the second six months of 2021 from
RMB6.6 million
in the same period of 2020. The increase was primarily from the realized investment gain of
RMB11.1 million
from the investment in Conflux Global, a decentralized applications blockchain solution provider.
Net loss
was
RMB108.3 million
(
US$17.0 million
) in the second six months of 2021 compared with
RMB186.9 million
in the same period of 2020. Net loss margin was 23.5% in the second six months of 2021 compared with 65.9% in the same period of 2020.
Non-GAAP adjusted net loss
, which excluded share-based compensation expenses and impairment loss from net loss, was
RMB96.7 million
(
US$15.2 million
) in the second six months of 2021, compared with
RMB215.1 million
in the same period of 2020.
Non-GAAP adjusted EBITDA
[2]
,
which excluded share-based compensation expenses, impairment loss, depreciation and amortization, interest income and expenses, and income tax benefits from net loss, for the second six months of 2021 was a loss of
RMB94.6 million
(
US$14.8 million
), compared with a loss of
RMB207.4 million
in the same period of 2020.
Fiscal Year 2021 Financial Results
Total revenues
for the fiscal year of 2021 increased by 37.4% to
RMB805.0 million
(
US$126.3 million
) from
RMB585.8 million
in the prior year.
Total revenues from recommendation services
increased by 42.2% to
RMB575.2 million
(
US$90.3 million
) in the fiscal year of 2021 from
RMB404.4 million
in the prior year.
Revenues from recommendation services for credit cards
increased by 38.4% to
RMB407.8 million
(
US$64.0 million
) in the fiscal year of 2021 from
RMB294.6 million
in the prior year. Credit card volume in the fiscal year of 2021 and 2020 were approximately 3.7 million and 2.8 million, respectively. The average fee per credit card increased to
RMB109.8
(US$17.2)
in the fiscal year of 2021 from
RMB106.8
in the prior year.
Revenues from recommendation services for loans
increased by 52.6% to
RMB167.5 million
(
US$26.3 million
) in the fiscal year of 2021 from
RMB109.8 million
in the prior year, primarily due to the increase in number of loan applications on our platform. The number of domestic loan applications on the Company’s platform was approximately 13.6 million in the fiscal year of 2021, representing an increase of approximately 94.3% from fiscal year 2020. The average fee per domestic loan application decreased to
RMB11.4
(US$1.8)
in the fiscal year of 2021 from
RMB13.3
in the prior year. The recommendation revenue of loans generated from overseas markets was 7.6% of total loan recommendation revenues in the fiscal year of 2021, less contribution than prior year. The global COVID-19 pandemic and the associated inability to travel globally has negatively impacted our overseas business.
Revenues from big data and system-based risk management services
decreased by 9.6% to
RMB130.4 million
(
US$20.5 million
) in the fiscal year of 2021 from
RMB144.2 million
in the prior year, primarily due to the decrease of the number of paying customers in the fiscal year of 2021.
Revenues from advertising and marketing services and other services
increased by 167.2% to
RMB99.4 million
(
US$15.6 million
) in the fiscal year of 2021 from
RMB37.2 million
in the prior year, primarily due to the growth of insurance brokerage services and initiatives of other new businesses.
Cost of promotion and acquisition
[3]
increased by 48.2% to
RMB562.1 million
(
US$88.2 million
) in the fiscal year of 2021 from
RMB379.4 million
in the prior year. The increase was primarily in line with the growth of our revenue from recommendation services, advertising and marketing services and other services.
Cost of operation
decreased by 4.2% to
RMB88.0 million
(
US$13.8 million
) in the fiscal year of 2021 from
RMB91.9 million
in the prior year. The decrease was primarily attributable to the decrease in depreciation expenses, and bandwidth and server costs, partially offset by the increase in data acquisition costs.
Sales and marketing expenses
increased by 11.6% to
RMB143.5 million
(
US$22.5 million
) in the fiscal year of 2021 from
RMB128.6 million
in the prior year. The increase was primarily due to the increase in sales and marketing staff for new businesses.
Research and development expenses
decreased by 14.5% to
RMB132.4 million
(
US$20.8 million
) in the fiscal year of 2021 from
RMB154.8 million
in the prior year, primarily due to the continued cost optimization measures.
General and administrative expenses
increased by 0.7% to
RMB137.5 million
(
US$21.6 million
) in the fiscal year of 2021 from
RMB136.6 million
in the prior year. The increase was primarily attributable to the increase in payroll expenses and share-based compensation expenses, partially offset by the decrease in professional fees and allowance for credit losses.
Others, net
increased by 417.9% to
RMB58.0 million
(
US$9.1 million
) in the fiscal year of 2021 from
RMB11.2 million
in the prior year. The increase was primarily from the realized investment gain of
RMB51.2 million
from the investment in Conflux Global, a decentralized applications blockchain solution provider.
Net loss
was
RMB204.1 million
(
US$32.0 million
) in the fiscal year of 2021 compared with
RMB312.1 million
in the prior year. Net loss margin was 25.4% in the fiscal year of 2021 compared with 53.3% in the prior year.
Non-GAAP adjusted net loss
, which excluded share-based compensation expenses and impairment loss from net loss, was
RMB186.7 million
(
US$29.3 million
) in the fiscal year of 2021, compared with
RMB333.4 million
in the prior year.
Non-GAAP adjusted EBITDA
[2]
,
which excluded share-based compensation expenses, impairment loss, depreciation and amortization, interest income and expenses, and income tax benefits from net loss, for the fiscal year of 2021 was a loss of
RMB179.2 million
(
US$28.1 million
), compared with a loss of
RMB315.8 million
in the prior year.
As of
December 31, 2021
, the Company had cash and cash equivalents, time deposits, restricted cash and time deposits and short-term investment of
RMB762.8 million
(
US$119.7 million
), and working capital of approximately
RMB424.9 million
(
US$66.7 million
). Compared to as of
December 31, 2020
, cash and cash equivalents, restricted cash, time deposits and investment and short-term investment decreased by
RMB233.2 million
(
US$36.6 million
), which was attributable to net cash used in operating activities.
Conference Call
The Company’s management will host an earnings conference call at
8:00 AM
U.S. Eastern Time on
April 12
, 2022 (
8:00 PM
Beijing/Hong Kong Time on
April 12
, 2022).
Dial-in details for the earnings conference call are as follows:
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Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for “Jianpu Technology Inc.”
Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at
http://ir.jianpu.ai
.
A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until
April 19, 2022
, by dialing the following telephone numbers:
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About Jianpu Technology Inc.
Jianpu Technology Inc. is a leading independent open platform for discovery and recommendation of financial products in
China
. The company connects users with financial service providers in a convenient, efficient, and secure way. By leveraging its proprietary technology, Jianpu provides users with customized search results and recommendations tailored to each user’s particular financial needs and profile. The Company also enables financial service providers with sales and marketing solutions to reach and serve their target customers more effectively through integrated channels and enhance their competitiveness by providing them with tailored data, risk management services and solutions. The Company is committed to maintaining an independent open platform, which allows it to serve the needs of users and financial service providers impartially. For more information, please visit
http://ir.jianpu.ai
.
Use of Non-GAAP Financial Measures
The Company uses adjusted EBITDA and adjusted net (loss)/income, each a Non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes.
The Company believes that adjusted EBITDA and adjusted net (loss)/income help identify underlying trends in our business that could otherwise be distorted by the effect of the expenses and gains that the Company include in (loss)/income from operations and net (loss)/income. The Company believes that adjusted EBITDA and adjusted net (loss)/income provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.
Adjusted EBITDA and adjusted net (loss)/income should not be considered in isolation or construed as alternatives to net (loss)/income or any other measure of performance or as indicators of our operating performance. Investors are encouraged to review the historical Non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted EBITDA and adjusted net (loss)/income presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
Adjusted EBITDA represents EBITDA before share-based compensation expenses and impairment loss. EBITDA represents net (loss)/income before interest, tax, depreciation and amortization.
Adjusted net (loss)/income represents net (loss)/income before share-based compensation expenses and impairment loss.
For more information on this Non-GAAP financial measure, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP results” set forth at the end of this press release.
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. Statements that are not historical facts, including statements about the Company’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: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the Company’s expectations regarding demand for, and market acceptance of, its solutions and services; the Company’s expectations regarding keeping and strengthening its relationships with users, financial service providers and other parties it collaborates with; trends, competition and regulatory policies relating to the industries the Company operates in; 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 SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Jianpu Technology Inc.
(IR)
Oscar Chen
, E-mail:
[email protected]
(PR)
Amanda Hu
, E-mail:
[email protected]
Tel: +86 (10) 6242 7068
Christensen Advisory
Suri Cheng
, E-mail:
[email protected]
Tel: +86 185 0060 8364
Anthony Cheong
, E-mail:
[email protected]
Tel: +852 2232 3922
In US:
Christensen Advisory
Linda Bergkamp
, E-mail:
[email protected]
Tel: +1 480 353 6648
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View original content:
https://www.prnewswire.com/news-releases/jianpu-technology-inc-reports-second-six-months-and-fiscal-year-2021-unaudited-financial-results-301523711.html
SOURCE Jianpu Technology Inc.
