Aurora Mobile Limited Announces Second Quarter 2024 Unaudited Financial Results

Core Viewpoint - Aurora Mobile Limited reported a strong performance in Q2 2024, achieving significant revenue growth and narrowing net losses, marking a historical achievement with four consecutive quarters of positive Adjusted EBITDA since its IPO in 2018 [1][3][4]. Financial Highlights - Revenues for Q2 2024 were RMB 79.4 million (US$ 10.9 million), an increase of 8% year-over-year [2][5]. - Cost of revenues was RMB 26.7 million (US$ 3.7 million), up 4% year-over-year [2][5]. - Gross profit reached RMB 52.8 million (US$ 7.3 million), reflecting an 11% increase year-over-year [2][5]. - Total operating expenses decreased by 15% year-over-year to RMB 54.8 million (US$ 7.5 million) [2][5]. - Net loss narrowed to RMB 1.3 million (US$ 0.2 million) from RMB 23.7 million in the same quarter last year [2][7]. - Adjusted net loss (non-GAAP) was RMB 0.4 million (US$ 54 thousand), compared to RMB 8.9 million in the same quarter last year [2][8]. - Adjusted EBITDA (non-GAAP) was positive at RMB 1.6 million (US$ 0.2 million), a significant improvement from a negative RMB 4.6 million for the same quarter last year [2][8]. Revenue Breakdown - Developer Subscription revenue grew by 14% quarter-over-quarter and 19% year-over-year [3]. - Subscription Services revenues totaled RMB 48.1 million, showing a 14% quarter-over-quarter and 19% year-over-year growth, driven by EngageLab business and improved ARPU [3][4]. - Value-added services revenues surged by 245% quarter-over-quarter, attributed to increased advertising spending during the 6/18 online shopping festival [3]. - Overall Vertical applications revenues grew by 16% quarter-over-quarter and 8% year-over-year, with Financial Risk Management revenue increasing by 28% quarter-over-quarter and 34% year-over-year due to a 30% growth in customer numbers [3]. Operational Efficiency - Research and development expenses decreased by 22% year-over-year to RMB 23.7 million (US$ 3.3 million) [6]. - Sales and marketing expenses increased slightly by 2% year-over-year to RMB 20.5 million (US$ 2.8 million) [6]. - General and administrative expenses decreased by 23% year-over-year to RMB 10.7 million (US$ 1.5 million) [6]. Cash Position - As of June 30, 2024, cash and cash equivalents, along with restricted cash, totaled RMB 92.7 million (US$ 12.8 million), down from RMB 115.0 million as of December 31, 2023 [8]. Share Repurchase Update - The company repurchased a total of 216,643 ADS, including 11,626 ADSs during Q2 2024, amounting to approximately US$ 36.1 thousand [9].