Aurora Mobile Ltd – ADR (NASDAQ:JG) Beats Analysts’ Expectations

Aurora Mobile Ltd – ADR (NASDAQ:JG) stock rose 1.09% (As on November 24, 4:57:30 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the third quarter of FY 22. In Q3’2022, Developer Services revenues increased by 3% quarter-over-quarter to RMB57.0 million, which was mainly due to the increase in Subscription Services. Year-over-year Developer Services decreased by 12% mainly due to the weakness in Value-added Services, offset by the growth in Subscription Services. Subscription Services revenues were RMB41.7 million, up 9% quarter-over-quarter and up 5% year-over-year. Subscription Services, the core business line, including JPUSH, Analytics, UMS and others, are products and services that help APP developers and enterprises to improve their operational efficiency. The increase in ARPU contributed to the growth in revenues, and the company managed to further grow our customer base, signing up several well-known and sizable customers.

Moreover, Vertical applications revenues increased by 12% quarter-over-quarter and decreased by 9% year-over-year. Financial Risk Management Service revenues increased by 20% quarter-over-quarter to RMB14.4 million and decreased by 7% year-over-year. The Financial Risk Management sequential revenues growth was mainly due to the increase in customer numbers as demand has shown good growth over the quarters. The Market Intelligence Services also delivered strong revenue growth, up 23% quarter-over-quarter and 24% year-over-year to RMB8.9 million.

JG in the third quarter of FY 22 has reported the adjusted earnings per share of (RMB0.04), beating the analysts’ estimates for the adjusted earnings per share of (RMB0.33). The company had reported 11 percent fall in the adjusted revenue to RMB11.3 million in the third quarter of FY 22, beating the analysts’ estimates for revenue of RMB87.79 million. Adjusted EBITDA improved by 58% year-over-year and 16% quarter-over-quarter respectively, to negative RMB6.7 million. Adjusted net loss (non-GAAP) was RMB14.5 million (US$2.0 million), compared with RMB26.2 million in the same quarter of last year. The cash and cash equivalents, restricted cash and short-term investments were RMB108.1 million (US$15.2 million) as of September 30, 2022 compared with RMB284.6 million as of December 31, 2021. The decrease was primarily due to the short-term bank loan of RMB150.0 million was fully repaid in April 2022.

Additionally, as of September 30, 2022, the Company had repurchased a total of 947,749 ADS, of which 27,143 ADSs, or around US$27.9 thousand were repurchased during the third quarter in 2022 at the average purchase price of US$1.03.

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