Core Viewpoint - iClick Interactive Asia Group Limited reported a decline in total revenue for the first half of 2024, primarily due to a decrease in marketing solutions revenue, while enterprise solutions showed growth. The company is focusing on improving financial performance and exploring strategic growth opportunities [1][3]. Financial Metrics - Total revenue from continuing operations for the first half of 2024 was US$14.2 million, down from US$17.0 million in the same period of 2023, representing a 16% decrease [2]. - Revenue from Marketing Solutions decreased to US$9.3 million, a 26% decline from US$12.7 million in the first half of 2023 [2][3]. - Revenue from Enterprise Solutions increased by 13% year-over-year to US$4.9 million, up from US$4.3 million [2][3]. - Gross profit from continuing operations was US$8.1 million, down from US$9.3 million, with a gross profit margin improvement to 56.9% from 54.6% [2][4]. - The net loss from continuing operations improved to US$1.3 million from US$10.3 million in the first half of 2023 [2][6]. Operating Metrics - Gross billing from continuing operations was US$23.1 million, down from US$30.0 million, reflecting the company's strategy to reduce lower margin and higher risk businesses [2][8]. - Total operating expenses decreased to US$12.4 million from US$14.1 million, attributed to cost optimization efforts [5]. Discontinued Operations - The net loss from discontinued operations was US$5.1 million, significantly improved from US$18.3 million in the first half of 2023, aided by cost optimization and a gain on disposal of discontinued operations amounting to US$2.6 million [2][9]. Cash Position - As of June 30, 2024, the company had cash and cash equivalents, time deposits, and restricted cash totaling US$70.2 million, an increase from US$41.3 million as of December 31, 2023 [9].
iClick Interactive Asia Group Limited Reports 2024 Half-Year Unaudited Financial Results