Leju Holdings Limited (“Leju” or the “Company”) (NYSE: LEJU), Reports Q12k19 Results

Leju Holdings Limited (“Leju” or the “Company”) (NYSE: LEJU), a leading online-to-offline (“O2O”) real estate services provider in China, today announced its unaudited financial results for the fiscal quarter ended March 31, 2k19.

 Q1 2k19 Financial Highlights

  • Total revenues increased by 35.00percent year-on-year to $110.400M.
    – Revenues from e-commerce services increased by 44.00percent year-on-year to $76.800M.
    – Revenues from online advertising services increased by 22.00percent year-on-year to $33.200M.
  • Loss from operations was $19.100M, a decrease of 39.00percent from $31.500M for the same quarter of 2k18.
  • Non-GAAP[1] loss from operations was $15.3 M, a decrease of 43percent from $27.1 M for the same quarter of 2k18.
  • Net loss attributable to Leju Holdings Limited shareholders was $13.500M, or $0.1000 loss per diluted American depositary share (“ADS”), a decrease of 35.00percent from $20.9 M, or $0.1500 loss per diluted ADS, for the same quarter of 2k18.
  • Non-GAAP net loss attributable to Leju Holdings Limited shareholders was $10.600M, or $0.08 loss per diluted ADS, a decrease of 39.00percent from $17.300M, or $0.1300 loss per diluted ADS, for the same quarter of 2k18.

 

 Q1 2k19 Results

Total revenues were $110.400M, an increase of 35.00percent from $81.500M for the same quarter of 2k18, mainly due to an increase in revenues from e-commerce services and online advertising services.

Revenues from e-commerce services were $76.800M, an increase of 44.00percent from $53.500M for the same quarter of 2k18, primarily due to an increase in both the number of discount coupons redeemed and in the average price per discount coupon.

Revenues from online advertising services were $33.200M, an increase of 22.00percent from $27.100M for the same quarter of 2k18, primarily due to an increase in property developers’ demand for online advertising.

Revenues from listing services were $0.4 00M, a decrease of 56.00percent from $0.900M for the same quarter of 2k18, primarily due to a decrease in secondary real estate brokers’ demand.

Cost of revenues was $23.500M, an increase of 26.00percent from $18.700M for the same quarter of 2k18, primarily due to the increased cost of advertising resources purchased from media platforms.

Selling, general and administrative expenses were $106.000M, an increase of 11.00percent from $95.200M for the same quarter of 2k18, primarily due to increased marketing expenses related to the Company’s e-commerce business.

Loss from operations was $19.100M, a decrease of 39.00percent from $31.500 M for the same quarter of 2k18. Non-GAAP loss from operations was $15.300M, a decrease of 43.00percent from $27.100M for the same quarter of 2k18.

Net loss was $13.600M, a decrease of 36.00percent from $21.300M for the same quarter of 2k18. Non-GAAP net loss was $10.600M, a decrease of 40.00percent from $17.700M for the same quarter of 2k18.

Net loss attributable to Leju Holdings Limited shareholders was $13.500M, or $0.1000 loss per diluted ADS, a decrease of 35.00percent from $20.900M, or $0.1500 loss per diluted ADS, for the same quarter of 2k18. Non-GAAP net loss attributable to Leju Holdings Limited shareholders was $10.600M, or $0.0800 loss per diluted ADS, a decrease of 39percent from $17.3 00M, or $0.13 00loss per diluted ADS, for the same quarter of 2k18.

Cash Flow

As of March 31, 2k19, the Company’s cash and cash equivalents balance was $137.900M.

Q1 2k19 net cash used in operating activities was $11.700M, primarily comprised of non-GAAP net loss of $10.600M and an increase in accounts receivable and contract assets of $10.300M, partially offset by an increase in amounts due to related parties of $5.200M, an increase in advance from customer of $2.500M and a decrease in customer deposits of $1.400M.

Business Outlook

The Company estimates that its total revenues for the second quarter of 2k19 will be approximately $150.00M to $160.00M, which would represent an increase of approximately 22.00percent to 30.00percent from $122.700M in the same quarter in 2k18.

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