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Jianpu Technology Q4 revenue increased 67.3%

Staff Writer |
Jianpu Technology announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2018.

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Fourth quarter 2018 operational and financial highlights:

Total revenues in the fourth quarter of 2018 increased 67.3% to RMB742.1 million (US$107.9 million) from RMB443.7 million in the third quarter of 2018, and increased 26.9% from RMB584.6 million in the same period of 2017.

Credit card volume was approximately 2.9 million in the fourth quarter of 2018, representing an increase of approximately 123% from the same period of 2017.

Jianpu Technology the average fee per credit card increased to RMB105.51 (US$15.35) in the fourth quarter of 2018 from RMB102.34 in the fourth quarter of 2017.

As a result, revenues for credit cards in the fourth quarter of 2018 increased 136% to RMB310.6 million (US$45.2 million) from RMB131.8 million in the same period of 2017.

Number of loan applications submitted through Jianpu Technology's platform was approximately 24.7 million in the fourth quarter of 2018, representing an increase of approximately 85.7% from the third quarter of 2018.

The average fee per loan application increased to RMB14.98 (US$2.18) in the fourth quarter of 2018 from RMB14.50 in the third quarter of 2018.

As a result, revenues for loans in the fourth quarter of 2018 increased 91.5% to RMB370.1 million (US$53.8 million) from RMB193.3 million in the third quarter of 2018.

Jianpu Technology gross profit increased 70.2% to RMB674.5 million (US$98.1 million) in the fourth quarter of 2018 from RMB396.4 million in the third quarter of 2018, and increased 28.9% from RMB523.4 million in the same period of 2017.

Gross margin was 90.9% in the fourth quarter of 2018, compared with 89.3% in the third quarter of 2018 and 89.5% in the fourth quarter of 2017.

Sales and marketing expenses (excluding share-based compensation) as a percentage of revenues was approximately 70.9% in the fourth quarter of 2018, compared with approximately 82.5% for the same period of 2017 and approximately 76.3% in the previous quarter.

Net income was RMB11.9 million (US$1.7 million) in the fourth quarter of 2018, compared with a net loss of RMB136.4 million in the same period of 2017 and a net loss of RMB53.5 million in the third quarter of 2018.

Net income margin was 1.6% in the fourth quarter of 2018, compared with net loss margin of 23.3% in the same period of 2017 and net loss margin of 12.1% in the third quarter of 2018.

Non-GAAP adjusted net income was RMB39.0 million (US$5.7 million) in the fourth quarter of 2018, compared with non-GAAP adjusted net loss of RMB30.3 million and RMB19.8 million, respectively, in the same period of 2017 and the preceding quarter.

Non-GAAP adjusted net margin was 5.3%, compared with -5.2% in the fourth quarter of 2017 and -4.5% in the third quarter of 2018. Fiscal year 2018 operational and financial highlights:

Total revenues for the fiscal year 2018 increased 39.1% to RMB2,011.8 million (US$292.6 million) from RMB1,445.8 million for the prior year.

Credit card volume was approximately 8.1 million in the fiscal year 2018, representing a significant increase of approximately 153% from fiscal year 2017.

The average fee per credit card increased 21.9% to RMB101.88 (US$14.82) in the fiscal year 2018 from RMB83.58 in the fiscal year 2017.

As a result, revenues for credit cards for the fiscal year 2018 increased 203% to RMB821.0 million (US$119.4 million) from RMB270.6 million in the prior year.

Gross profit increased 37.4% to RMB1,788.5 million (US$260.1 million)

In the fiscal year 2018 from RMB1,301.9 million in the prior year. Sales and marketing expenses (excluding share-based compensation) as a percentage of revenues was approximately 76.6% in the fiscal year 2018, compared with approximately 83.7% from fiscal year 2017.

Net loss decreased 20.9% to RMB159.8 million (US$23.2 million) in the fiscal year 2018 from RMB202.1 million in the prior year.

Net margin was -7.9% in the fiscal year 2018, improved from -14.0% in the prior year.

Non-GAAP adjusted net loss decreased 69.2% to RMB29.1 million (US$4.2 million) in the fiscal year 2018 from RMB94.4 million in the prior year.

Non-GAAP adjusted net margin was -1.4%, compared with -6.5% in the prior year.


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