Boqii Announces Fiscal 2021 Second Quarter Unaudited Financial Results
11/16/2020 - 05:00 AM
SHANGHAI , Nov. 16, 2020 /PRNewswire/ -- Boqii Holding Limited ("Boqii" or the "Company") (NYSE: BQ), a leading pet-focused platform in China , today announced its unaudited financial results for the second quarter of fiscal year 2021 ended September 30, 2020 .
Fiscal Q2 2021 Operational and Financial Highlights
Total revenues were RMB229.2 million (US$33.8million ), representing an increase of 34.3% from RMB170.6 million in the same quarter of fiscal year 2020. Net loss was RMB27.5 million (US$4.0 million ), compared to net loss of RMB43.5 million in the same quarter of fiscal year 2020. EBITDA [1] was a loss of RMB23.4 million (US$3.4 million ), representing a 23.5% improvement from a loss of RMB30.6 million in the same quarter of fiscal year 2020. Total GMV [2] was RMB563.3 million (US$82.7 million ), representing an increase of 70.0% from RMB331.4 million in the same quarter of fiscal year 2020. Active buyers were 1.3 million, representing an increase of 15.0% from RMB1.1 million in the same quarter of fiscal year 2020.Mr. Hao Liang, Boqii's Founder, Chairman and Chief Executive Officer commented: "In October 2020 , Boqii successfully completed its IPO on the NYSE and became the first publicly traded pet-focused platform company in China , which marked a significant milestone not only for Boqii but also for the whole pet industry in China . As a newly public company, Boqii generated a strong quarter with solid operational and financial growth. Year on year quarterly GMV grew by 70% to RMB563.3 million while active buyers grew by 15% to 1.3 million. These solid results demonstrated our strong brand recognition, robust distribution capabilities as well as the greater user engagement in our community. Going forward, we will continue to innovate with a keen focus on delivering a seamless user experience, with our mission to empower the pet ecosystem and instill love and trust into pet parenting."
Mr. Liang continued: "In August, we started the 'Pet Hundred-Million Yuan Sales Club', an established strategic partnership with JD.com aiming to generate hundred-million sales in year 2020 from our products and online stores, and promote the iterative upgrade of both parties' operating systems. In September, we signed another strategic cooperation agreement with China Animal Husbandry Group to provide products and solutions for pet health. We are planning to develop more partnerships with other renowned platforms and large corporations to deliver best solutions and enhance our value proposition for fast-growing demand in the pet industry. We also recorded strong sales recently during the Singles' Day Global Shopping Festival. Over the 11-day period from November 1 to November 11 , we generated a total GMV of RMB 244.5 million , a 39.97% increase from last year Singles' Day Shopping Festival."
Ms. Yingzhi (Lisa) Tang , Boqii's Co-Founder, Co-CEO and CFO commented: "We generated healthy revenue growth of 34.3% year-over-year during this quarter. Most notably, the percentage of revenue we generated from Boqii Mall reached 41.2% , significantly increasing from 29.0% in the same quarter of last fiscal year. We remain committed to developing Boqii Mall, and this result reflects our effort to provide a better user experience and product selection on our platform. We will invest heavily in technology, optimize our content and product offerings to drive impulse purchases and meet strong user demand."
[1] EBITDA refers to net loss excluding income tax expenses, interest expense, interest income, depreciation and amortization expenses, but including all the professional expenses in relation to initial public offering. EBITDA is a Non-GAAP financial measurement. Please refer to "Reconciliation of GAAP and Non-GAAP Results."
[2] GMV refers to gross merchandise volume, which is the total value of confirmed orders placed with us and sold through distribution model or drop shipping model where we act as a principal in the transaction regardless of whether the products are delivered or returned, calculated based on the listed prices of the ordered products without taking into consideration any discounts. The total GMV amount (i) includes GMV of products sold by Xingmu, (ii) excludes products sold through consignment model and (iii) excludes the value of services offered by us. GMV is subject to future adjustments (such as refunds) and represents only one measure of the Company's performance and should not be relied on as an indicator of our financial results, which depend on a variety of factors.
Fiscal Second Quarter Financial Results
Total revenues were RMB229.2million (US$33.8 million ), representing an increase of 34.3% from RMB170.6 million in the same quarter of fiscal year 2019. The increase was primarily due to more revenue generated from Boqii Mall, which represented 41.2% of our total revenue versus 29.0% in the same quarter of fiscal year 2020.
Revenues (in RMB million)
2020
Sep. Quarter
2019 Sep. Quarter
% change YoY
Revenues from product sales
227.9
169.7
+34.3%
· Boqii Mall
94.4
49.5
+90.8%
· Third party e-commerce platforms
133.5
120.2
+11.1%
Revenues from online marketing and information services
1.3
0.9
+43.8%
Total
229.2
170.6
+34.3%
Gross profit was RMB42.6 million (US$6.3 million ), an increase of 15.5% from RMB36.9 million in the same quarter of fiscal year 2020.
Gross margin was 18.6% , a decrease of 304 basis points from 21.6% in the same quarter of fiscal year 2020. The decrease in gross margin was mainly due to the increased contribution of revenue from Boqii Mall, where we offer more favorable pricing to our valued users.
Operating expenses were RMB77.1 million , an increase of 12.9% from RMB 68.3 million in the same quarter of fiscal year 2020. Operating expenses as a percentage of total revenues was 33.6% , compared to 40.0% in the same quarter of fiscal year 2020.
Fulfillment Expenses were RMB29.0 million, an increase of 18.1% from RMB 24.6 million in the same quarter of fiscal year 2020. Fulfillment expenses as a percentage of total revenues were 12.7 %, compared to 14.4% in the same quarter of fiscal year 2020. The decrease was mainly due to: (i) the improved utilization of warehouses by adjusting inventory mix; (ii) relocation of warehouses across China in a more cost-efficient method; and (iii) lower delivery service prices through renegotiation with third-party delivery service providers. Sales and marketing expenses were RMB31.3 million , a decrease of 5.3% from RMB 33.1 million in the same quarter of fiscal year 2020. Sales and marketing expenses as a percentage of total revenue were 13.7% , compared to 19.4% in the same quarter of fiscal year 2020. The decrease was mainly due to lower customer acquisition costs and more cost-efficient customer services. General and administrative expenses were RMB16.7 million , an increase of 57.7% from RMB 10.6 million in the same quarter of fiscal year 2020. General and administrative expenses as a percentage of total revenue were 7.3% , compared to 6.2% in the same quarter of fiscal year 2020. The increase was primary due to professional expenses incurred for the initial public offering, as well as increased employee salaries and benefits.Operating loss was RMB34.2 million (US$5.0 million ), an increase of 9.0% compared to RMB31.4 million in the same quarter of fiscal year 2020.
EBITDA was a loss of RMB23.4 million (US$3.4 million ), representing a 23.5% improvement from a loss of RMB30.6 million in the same quarter of fiscal year 2020.
EBITDA margin increased 772 basis points to (10.2% ), compared to (17.9% ) in the same quarter of fiscal 2020.
Net loss was RMB27.5million (US$4.0million ), compared to net loss of RMB43.5 million in the same quarter of fiscal year 2020.
Adjusted net loss was RMB35.8 million (US$5.3 million ), representing a decrease of 20.6% from the adjusted net loss of RMB45.0 million in the same quarter of fiscal year 2020.
Diluted net loss per share was RMB3.06 (US$0.50) , compared to diluted net loss per share of RMB3.98 in the same quarter of fiscal year 2020.
Initial Public Offering
On October 2, 2020 , Boqii completed its initial public offering ("IPO") of 7,000,000 million American Depositary Shares ("ADSs"), at US$10.00 per ADS. Each ADS represents 0.75 of a Class A ordinary share of the Company. The Company raised a total of US$70 million in gross proceeds from the IPO, before deducting underwriting discounts and commissions as well as other offering expenses.
Conference Call
Boqii's management will hold a conference call to discuss the financial results at 8:00 AM on Monday, November 16, 2020 , U.S. Eastern Time (9:00 PM on November 16, 2020 , Beijing /Hong Kong Time).
To join the conference, please dial in 15 minutes before the conference is scheduled to begin using below numbers.
Phone Number
International
1-412-317-6061
United States
1-888-317-6003
Hong Kong
852 800-963976
Mainland China
86 4001-206115
Passcode
9244495
A replay of the conference call may be accessed by phone at the following numbers until November 23, 2020 .
Phone Number
International
1-412-317-0088
United States
1-877-344-7529
Replay Access Code
10149804
A live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.boqii.com/ .
About Boqii Holding Limited
Boqii Holding Limited (NYSE: BQ) is China's largest pet-focused platform We are the leading online destination for pet products and supplies in China with our broad selection of high-quality products including global leading brands, local emerging brands, and our own private label, Yoken and Mocare, offered at competitive prices. Our online sales platforms, including Boqii Mall and our flagship stores on third-party e-commerce platforms, provide customers with convenient access to a wide selection of high-quality pet products and an engaging and personalized shopping experience. Our Boqii Community provides an informative and interactive content platform for users to share their knowledge and love for pets.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding such risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Non-GAAP Financial Measures
The Company uses non-GAAP financial measures, namely adjusted net loss, EBITDA and EBITDA margin, in evaluating its operating results and for financial and operational decision-making purposes. The Company defines (i) adjusted net loss as net loss excluding fair value change of derivative liabilities, (ii) EBITDA as net loss excluding income tax expenses, interest expense, interest income, depreciation and amortization expenses, and (iii) EBITDA margin as EBITDA as a percentage of total revenues. The Company believes adjusted net loss, EBITDA and EBITDA margin enhance investors' overall understanding of its financial performance and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.
These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. As these non-GAAP financial measures have limitations as analytical tools and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, which should be considered when evaluating the Company's performance. For reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, "Reconciliation of GAAP and Non-GAAP Results." The Company encourages investors and others to review its financial information in its entirety and not rely on any single financial measure.
Exchange Rate
This press release contains translations of certain RMB amounts into U.S. dollars ("USD") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB6.7896 to US$1.00 , the noon buying rate in effect on September 30, 2020 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred to could be converted into USD or RMB, as the case may be, at any particular rate or at all.
For investor and media inquiries, please contact:
In China :
Boqii Holding Limited Investor Relations Tel: +86-21-6882-6051 Email: ir@boqii.com
The Blueshirt Group Ms. Susie Wang Email: susie@blueshirtgroup.com
In the United States :
The Blueshirt Group Ms. Julia Qian Email: julia@blueshirtgroup.com
BOQII HOLDING LIMITED
UNAUDITED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except for share and per share data, unless otherwise noted)
Pro forma
Pro forma
As of March 31, 2020
As of September 30, 2020
As of September 30, 2020
As of September 30, 2020
As of
September 30, 2020
RMB
RMB
US$
RMB
US$
ASSETS
Current assets:
Cash and cash equivalents
88,352
127,756
18,816
127,756
18,816
Accounts receivable, net
44,980
38,801
5,714
38,801
5,714
Inventories, net
63,056
70,516
10,386
70,516
10,386
Prepayments and other current assets
76,720
157,555
23,205
157,555
23,205
Amounts due from related parties
5,982
6,645
980
6,645
980
Total current assets
279,090
401,273
59,101
401,273
59,101
Non-current assets:
Property and equipment, net
4,981
7,550
1,112
7,550
1,112
Intangible assets
33,538
31,538
4,645
31,538
4,645
Operating lease right-of-use assets
14,951
33,365
4,914
33,365
4,914
Long-term investments
73,432
74,948
11,039
74,948
11,039
Goodwill
40,184
40,184
5,918
40,184
5,918
Other non-current asset
11,019
41,348
6,090
41,348
6,090
Total non-current assets
178,105
228,933
33,718
228,933
33,718
Total assets
457,195
630,206
92,819
630,206
92,819
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' DEFICIT
Current liabilities
Short-term borrowings
75,223
44,352
6,532
44,352
6,532
Accounts payable
88,005
70,258
10,349
70,258
10,349
Salary and welfare payable
4,465
6,503
958
6,503
958
Accrued liabilities and other current liabilities
37,883
53,066
7,816
53,066
7,816
Amounts due to related parties, current
45
3,042
448
3,042
448
Other debts, current
76,252
17,408
2,564
17,408
2,564
Contract liabilities
7,702
4,013
591
4,013
591
Operating lease liabilities, current
7,969
8,402
1,237
8,402
1,237
Derivative liabilities
14,351
1,565
230
1,565
230
Total current liabilities
311,895
208,609
30,725
208,609
30,725
Non-current liabilities
Deferred tax liabilities
10,591
10,192
1,501
10,192
1,501
Operating lease liabilities, non-current
5,375
22,944
3,379
22,944
3,379
Long-term borrowings
53,148
49,504
7,291
49,504
7,291
Other debts, non-current
165,774
473,865
69,793
473,865
69,793
Amounts due to related parties, non-current
11,521
1,030
152
1,030
152
Total non-current liabilities
246,409
557,535
82,116
557,535
82,116
Total liabilities
558,304
766,144
112,841
766,144
112,841
Mezzanine equity
Series A convertible redeemable preferred shares (US$ 0.001 par value; 11,000,000 shares authorized, 10,340,000 shares issued and outstanding as of March 31, 2020 and September 30, 2020, respectively; and nil outstanding on a pro-forma basis as of September 30, 2020)
484,122
531,746
78,316
-
-
Series B convertible redeemable preferred shares Series B convertible redeemable preferred shares (US$ 0.00 1 par value; 10,000,000 shares authorized, 9,067,384 shares issued and outstanding as of March 31, 2020 and September 30, 2020, respectively; and nil outstanding on a pro-forma basis as of September 30, 2020)
527,682
581,017
85,575
-
-
Series C convertible redeemable preferred shares (US$ 0.001 par value; 6,000,000 shares authorized, 5,518,101 shares issued and outstanding as of March 31, 2020 and September 30, 2020, respectively; and nil outstanding on a pro-forma basis as of September 30, 2020)
420,419
380,838
56,091
-
-
Series C+ convertible redeemable preferred shares( US$ 0.001 par value; 8,000,000 shares authorized, nil and 6,734,459 shares issued and outstanding as of March 31, 2020 and September 30, 2020, respectively; and nil outstanding on a pro-forma basis as of September 30, 2020)
-
662,521
97,579
-
-
Series D convertible redeemable preferred shares (US$ 0.001 par value; 3,000,000 shares authorized, 2,526,026 shares issued and outstanding as of March 31, 2020 and September 30, 2020, respectively; and nil outstanding on a pro-forma basis as of September 30, 2020)
188,183
180,939
26,649
-
-
Series D-1 convertible redeemable preferred shares (US$ 0.001 par value; 3,000,000 shares authorized, 2,178,530 shares issued and outstanding as of March 31, 2020 and September 30, 2020, respectively; and nil outstanding on a pro-forma basis as of September 30, 2020)
164,282
164,803
24,273
-
-
Series D-2 convertible redeemable preferred shares (US$ 0.001 par value; 2,000,000 shares authorized, 1,182,803 shares issued and outstanding as of March 31, 2020 and September 30, 2020, respectively; and nil outstanding on a pro-forma basis as of September 30, 2020)
89,464
92,284
13,592
-
-
Series E convertible redeemable preferred shares (US$ 0.001 par value; 3,000,000 and 7,000,000 shares authorized, 1,042,623 and 5,885,210 shares issued and outstanding as of March 31, 2020 and September 30, 2020, respectively; and nil outstanding on a pro-forma basis as of September 30, 2020)
78,553
455,811
67,134
-
-
Receivable for issuance of preferred shares
(94,758)
(402,722)
(59,314)
-
-
Total mezzanine equity
1,857,947
2,647,237
389,895
-
-
Stockholders' deficit:
Ordinary Shares(US$0.00 1 par value;153,000,000 and 149,000,00 ordinary shares authorized; 22,238,454 ordinary shares issued and outstanding as of March 31, 2020 and September 30, 2020: nil shares issued and outstanding on a pro-forma basis as of September 30, 2020)
139
139
20
-
-
Class A ordinary shares (US$0.00 1 par value; nil shares authorized, issued and outstanding shares as of September 30, 2020; 129,500,000 shares authorized, 49,777,032 shares issued and outstanding on a pro- forma basis as of September 30, 2020)
-
-
-
333
49
Class B ordinary shares (US$0.00 1 par value; nil shares authorized, issued and outstanding shares as of September 30, 2020; 15,000,000 shares authorized, 13,037,729 shares issued and outstanding on a pro- forma basis as of September 30, 2020)
-
-
-
82
12
Additional paid-in capital
-
-
-
3,049,684
449,168
Statutory reserves
2,627
2,891
426
2,891
426
Accumulated other comprehensive loss
11,204
882
130
882
130
Accumulated deficit
(2,016,758)
(2,831,724)
(417,067)
(2,831,724)
(417,067)
Receivable for issuance of ordinary shares
(9)
-
-
(402,722)
(59,314)
Total Boqii Holding Limited shareholders' deficit
(2,002,797)
(2,827,812)
(416,491)
(180,574)
(26,596)
Non-controlling interests
43,741
44,637
6,574
44,636
6,574
Total shareholders' deficit
(1,959,056)
(2,783,175)
(409,917)
(135,938)
(20,022)
Total liabilities, mezzanine equity and shareholders' deficit
457,195
630,206
92,819
630,206
92,819
(a) On a pro forma basis to reflect (i) the re-designation of 12,204,604 ordinary shares held by Merchant Tycoon Limited and beneficially owned by Hao (Louis) Liang, Yingzhi (Lisa) Tang and Di (Jackie) Chen into Class B ordinary shares on a one-for-one basis immediately prior to the completion of the initial public offering (which was completed on October 2, 2020), (ii) the automatic conversion and re-designation of 833,125 Series C preferred shares held by Merchant Tycoon Limited and beneficially owned by Hao (Louis) Liang, Yingzhi (Lisa) Tang and Di (Jackie) Chen into Class B ordinary shares on a one-for-one basis immediately prior to the completion of the initial public offering, (iii) the re-designation of all of the remaining ordinary shares into Class A ordinary shares on a one-for-one basis immediately prior to the completion of the initial public offering, (iv) the automatic conversion of 10,340,000 Series A preferred shares into 7,844,137 ordinary shares on a 1:0.76 basis, and re-designation of such as-converted ordinary shares into 7,844,137 Class A ordinary shares on a one-for-one basis immediately prior to the completion of the initial public offering, (v) the automatic conversion of 9,067,384 Series B preferred shares into 8,557,980 ordinary shares on a 1:0.94 basis, and re-designation of such as-converted ordinary shares into 8,557,980 Class A ordinary shares on a one-for-one basis immediately prior to the completion of the initial public offering, (vi) the automatic conversion of 6,734,459 Series C+ preferred shares into 6,883,520 ordinary shares on a 1:1.02 basis, and re-designation of such as-converted ordinary shares into 6,883,520 Class A ordinary shares on a one for-one basis immediately prior to the completion of the initial public offering, (vii) the automatic conversion and re-designation of all of the remaining issued and outstanding preferred shares into 16,457,545 Class A ordinary shares on a one-for-one basis immediately prior to the completion of the initial public offering.
(b) The unaudited pro forma information does not include the impact of share-based compensation expense for share options which was expected to record upon the completion of the initial public offering.
BOQII HOLDING LIMITED
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(All amounts in thousands, except for share and per share data, unless otherwise noted)
Three Months Ended September 30,
Six Months Ended September 30,
2019
2020
2020
2019
2020
2020
RMB
RMB
US$
RMB
RMB
US$
Net revenues:
Product sales
169,685
227,883
33,563
358,039
465,815
68,607
Online marketing and information services
909
1,307
193
1,506
1,813
267
Total revenues
170,594
229,190
33,756
359,545
467,628
68,874
Total cost of revenue
(133,679)
(186,555)
(27,477)
(278,804)
(381,723)
(56,222)
Gross profit
36,915
42,635
6,279
80,741
85,905
12,652
Operating expenses:
Fulfillment expenses
(24,584)
(29,037)
(4,277)
(55,495)
(62,669)
(9,230)
Sales and marketing expenses
(33,081)
(31,342)
(4,616)
(67,363)
(66,286)
(9,763)
General and administrative expenses
(10,585)
(16,697)
(2,459)
(26,934)
(33,565)
(4,944)
Other income/(expense), net
(25)
258
38
2,357
305
45
Loss from operations
(31,360)
(34,183)
(5,035)
(66,694)
(76,310)
(11,240)
Interest income
136
4,487
661
218
6,203
914
Interest expense
(12,228)
(6,416)
(945)
(24,343)
(13,559)
(1,997)
Other (losses)/gain, net
(1,240)
879
129
(1,505)
3,776
556
Fair value change of derivative liabilities
1,553
8,303
1,223
1,433
10,409
1,533
Loss before income tax expenses
(43,139)
(26,930)
(3,967)
(90,891)
(69,481)
(10,234)
Income taxes expenses
55
(500)
(74)
80
(191)
(28)
Share of results of equity investees
(377)
(20)
(3)
(550)
(77)
(11)
Net loss
(43,461)
(27,450)
(4,044)
(91,361)
(69,749)
(10,273)
Less: Net income attributable to the non-controlling interest shareholders
885
617
91
2,216
896
132
Net loss attributable to Boqii Holding Limited
(44,346)
(28,067)
(4,135)
(93,577)
(70,645)
(10,405)
Less: Accretion on convertible redeemable preferred shares to redemption value
(44,089)
(39,925)
(5,880)
(122,210)
(75,062)
(11,055)
Less: Deemed dividend to preferred shareholders
-
-
-
(741)
(12,547)
(1,848)
Net loss attributable to Boqii Holding Limited's ordinary shareholders
(88,435)
(67,992)
(10,015)
(216,528)
(158,254)
(23,308)
Net loss
(43,461)
(27,450)
(4,044)
(91,361)
(69,749)
(10,273)
Other comprehensive income/(loss):
Foreign currency translation adjustment, net of nil tax
2,478
(10,716)
(1,578)
2,568
(11,517)
(1,696)
Unrealized securities holding gains
157
-
-
331
1,195
176
Total comprehensive loss
(40,826)
(38,166)
(5,622)
(88,462)
(80,071)
(11,793)
Less: Total comprehensive loss attributable to non- controlling interest shareholders
885
617
91
2,216
896
132
Total comprehensive loss attributable to Boqii Holding Limited
(41,711)
(38,783)
(5,713)
(90,678)
(80,967)
(11,925)
Net loss per share attributable to Boqii Holding Limited's ordinary shareholders
— basic
(3.98)
(3.06)
(0.45)
(9.74)
(7.12)
(1.05)
— diluted
(3.98)
(3.06)
(0.45)
(9.74)
(7.12)
(1.05)
Weighted average number of ordinary shares
— basic
22,238,454
22,238,454
22,238,454
22,238,454
22,238,454
22,238,454
— diluted
22,238,454
22,238,454
22,238,454
22,238,454
22,238,454
22,238,454
Pro forma net loss per share attributable to Boqii Holding Limited's ordinary shareholders
— basic
(0.48)
(0.07)
(1.26)
(0.19)
— diluted
(0.48)
(0.07)
(1.26)
(0.19)
Pro forma weighted average number of ordinary shares
— basic
59,073,717
59,073,717
55,870,406
55,870,406
— diluted
59,073,717
59,073,717
55,870,406
55,870,406
Boqii Holding Limited
Reconciliation of GAAP and Non-GAAP Results
(All amounts in thousands, except for %, unless otherwise noted)
Three Months Ended September 30,
Six Months Ended September 30,
2019
2020
2019
2020
RMB
RMB
RMB
RMB
Net loss
(43,461)
(27,450)
(91,361)
(69,749)
Fair value change of derivative liabilities
(1,553)
(8,303)
(1,433)
(10,409)
Adjusted Net loss
(45,014)
(35,753)
(92,794)
(80,158)
Three Months Ended September 30,
Six Months Ended September 30,
2019
2020
2019
2020
RMB
RMB
RMB
RMB
Net loss
(43,461)
(27,450)
(91,361)
(69,749)
Income tax expenses
(55)
500
(80)
191
Interest expenses
12,228
6,416
24,343
13,559
Interest income
(136)
(4,487)
(218)
(6,203)
Depreciation and amortization
821
1,601
1,561
3,351
EBITDA
(30,603)
(23,420)
(65,755)
(58,851)
EBITDA Margin
(17.9% )
(10.2% )
(18.3% )
(12.6% )
View original content:http://www.prnewswire.com/news-releases/boqii-announces-fiscal-2021-second-quarter-unaudited-financial-results-301173417.html
SOURCE Boqii Holding Limited