美通社

2024-11-28 05:05

iClick Interactive Asia Group Limited Reports 2024 Half-Year Unaudited Financial Results

HONG KONG, Nov. 28, 2024 /PRNewswire/ -- iClick Interactive Asia Group Limited ("iClick" or the "Company") (Nasdaq: ICLK), a renowned online marketing and enterprise solutions provider in Asia that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced unaudited financial results for the six months ended June 30, 2024.



Six Months Ended June 30,



2024


2023


Percentage
change



(US$ in thousands)





(Unaudited)



Financial Metrics:







Revenue from continuing operations







Marketing Solutions


9,324


12,663


(26) %

Enterprise Solutions


4,896


4,330


13 %

Total revenue from continuing operations


14,220


16,993


(16) %

Gross profit from continuing operations


8,096


9,276


(13) %

Net loss from continuing operations


(1,269)


(10,275)


N/M

Net loss from discontinued operations


(5,104)


(18,294)


N/M

Diluted net loss from continuing operations per American Depositary Shares ("ADS")


(0.12)


(1.01)


N/M

Operating Metrics:







Gross billing


23,060


29,983


(23) %

"I am pleased to report that our continuing operations recorded an improvement in gross margin to 56.9% in the first half of 2024 from 54.6% in the first half of 2023, and we saw the increase in enterprise solutions revenue by 13% year-over-year. The Company will continue to focus on improving the financial performance and cash flows, while exploring strategic opportunities for broader business growth.", said Mr. Jian Tang, Chairman, Chief Executive Officer and Co-Founder of iClick.

"We continue monitoring and evaluating operations and market trends proactively in order to optimize our business and enhance profitability. We have recently completed the disposal of our mainland China Enterprise Solutions business and demand side Marketing Solutions business. The results of these businesses are presented under discontinued operations."

First Half Year of 2024 Results on Continuing Operations:

Revenue for the first half of 2024 was US$14.2 million, compared with US$17.0 million for the first half of 2023. Revenue from Marketing Solutions declined to US$9.3 million for the first half of 2024, compared with US$12.7 million for the first half of 2023. It was resulted from our strategic contraction of lower margin and higher risk businesses, with weaker demand from clients on advertising spending due to uncertainty in the macro-economic environment. Revenue from Enterprise Solutions was US$4.9 million for the first half of 2024, improved from US$4.3 million in the first half of 2023 due to the increasing demand for digital transformation and services.

Gross profit for the first half of 2024 was US$8.1 million, compared with US$9.3 million for the first half of 2023. With the effort of reducing lower margin and higher risk businesses, and a rising revenue contribution from the higher-margin Enterprise Solutions business, gross profit margin increased to 56.9% for the first half of 2024 from 54.6% for the first half of 2023.

Total operating expenses were US$12.4 million for the first half of 2024, decreased from US$14.1 million for the first half of 2023. The change was primarily due to our cost optimization execution, which resulted in reduction of staff cost and savings on promotional expenses. The expected credit losses provision of trade receivables was also reduced because of our close monitoring of cash collection.

Net loss from continuing operations was US$1.3 million for the first half of 2024, significantly improved from the net loss of US$10.3 million for the first half of 2023, mainly due to no impairment of equity investments in the first half of 2024, which we recorded US$5.6 million in the first half of 2023. Operating loss was reduced by US$0.6 million.

Net loss from continuing operations attributable to the Company's shareholders per basic and diluted ADS for the first half of 2024 was US$0.12, compared with a net loss attributable to the Company's shareholders per basic and diluted ADS of US$1.01 for the first half of 2023.

Gross billing1 from continuing operations was US$23.1 million for the first half of 2024, compared with US$30.0 million for the first half of 2023, mainly as a result of our continued strategy of reducing lower margin and higher risk businesses, as well as clients' reduced advertising spending.

Net loss from discontinued operations was US$5.1 million for the first half of 2024, compared with the net loss of US$18.3 million for the first half of 2023, mainly due to cost optimization, and gain on disposal of discontinued operations amounting to US$2.6 million in the first half of 2024.

As of June 30, 2024, the continuing operations of the Company had cash and cash equivalents, time deposits and restricted cash of US$70.2 million, compared with US$41.3 million as of December 31, 2023.

About iClick Interactive Asia Group Limited

Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a renowned online marketing and enterprise solutions provider in Asia. With its leading proprietary technologies, iClick's full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. For more information, please visit https://ir.i-click.com.

1 Gross billing is defined as the aggregate dollar amount that clients pay the Company after deducting rebates paid and discounts given to.

 

Safe Harbor Statement

This announcement contains forward-looking statements, including those related to the Company's business strategies, operations and financial performance. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks and uncertainties. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

For investor and media inquiries, please contact:

In China:

In the United States:

iClick Interactive Asia Group Limited

Core IR

Catherine Chau

Tom Caden

Phone: +852 3700 9100

Tel: +1-516-222-2560

E-mail: ir@i-click.com

E-mail: tomc@coreir.com

 

(financial tables follow)

 

ICLICK INTERACTIVE ASIA GROUP LIMITED

Unaudited Condensed Consolidated Statements of Comprehensive Loss

(US$'000, except share data and per share data, or otherwise noted, unaudited)




Six Months Ended
   June 30,



2024


2023

Continuing operations





Revenue


14,220


16,993

Cost of revenue


(6,124)


(7,717)

Gross profit


8,096


9,276






Operating expenses





Research and development expenses


(311)


(265)

Sales and marketing expenses


(4,381)


(8,826)

General and administrative expenses


(7,704)


(5,052)

Total operating expenses


(12,396)


(14,143)

Interest expense


(32)


(117)

Interest income


598


591

Other gains/(losses), net


2,560


(5,756)

Loss before income tax expense and share of losses from an equity investee


(1,174)


(10,149)

Share of losses from an equity investee


(37)


(19)

Loss before income tax expense


(1,211)


(10,168)

Income tax expense


(58)


(107)

Net loss from continuing operations


(1,269)


(10,275)

Net loss attributable to non-controlling interests


111


9

Net loss from continuing operations attributable to iClick Interactive Asia Group
Limited's ordinary shareholders


(1,158)


(10,266)

Discontinued operations





Loss from operations of discontinued operations


(7,666)


(18,305)

Income tax (expense)/credit


(23)


11

Gain on disposal of discontinued operations


2,585


-

Net loss from discontinued operations


(5,104)


(18,294)

Net loss attributable to non-controlling interests


32


49

Net loss from discontinued operations attributable to iClick Interactive Asia Group
Limited's ordinary shareholders


(5,072)


(18,245)






Net loss


(6,373)


(28,569)

Net loss attributable to iClick Interactive Asia Group Limited's ordinary
shareholders


(6,230)


(28,511)






Net loss from continuing operations


(1,269)


(10,275)

Other comprehensive loss:





Foreign currency translation adjustment, net of US$nil tax


(13)


(131)






Comprehensive loss from continuing operations


(1,282)


(10,406)

Comprehensive loss from continuing operations attributable to non-controlling
interests


111


49

Comprehensive loss from continuing operations attributable to iClick
Interactive Asia Group Limited's ordinary shareholders


(1,171)


(10,357)

Net loss from discontinued operations


(5,104)


(18,294)

Other comprehensive income:





Foreign currency translation adjustment, net of US$nil tax


-


301






Comprehensive loss from discontinued operations


(5,104)


(17,993)

Comprehensive loss from discontinued operations attributable to non
-controlling interests


32


20

Comprehensive loss from discontinued operations attributable to iClick
Interactive Asia Group Limited's ordinary shareholders


(5,072)


(17,973)

Comprehensive loss attributable to iClick Interactive Asia Group Limited's
ordinary shareholders


(6,243)


(28,330)






Net loss from continuing operations per ADS attributable to iClick Interactive
Asia Group Limited's ordinary shareholders





— Basic


(0.12)


(1.01)

— Diluted


(0.12)


(1.01)






Net loss from discontinued operations per ADS attributable to iClick Interactive
Asia Group Limited's ordinary shareholders





— Basic


(0.51)


(1.79)

— Diluted


(0.51)


(1.79)






Net loss per ADS attributable to iClick Interactive Asia Group Limited's
ordinary shareholders





— Basic


(0.63)


(2.80)

— Diluted


(0.63)


(2.80)






Weighted average number of ADS used in per share calculation:





— Basic


9,955,943


10,178,966

— Diluted


9,955,943


10,178,966

 

 

ICLICK INTERACTIVE ASIA GROUP LIMITED

Unaudited Condensed Consolidated Balance Sheets

(US$'000, except share data and per share data, or otherwise noted, unaudited)




As of
June 30, 2024


As of
December 31,
2023

Assets





Current assets





Cash and cash equivalents, time deposits and restricted cash


70,239


41,264

Accounts receivable, net of allowance for credit losses of US$1,558 and
   US$1,571 as of June 30, 2024 and December 31, 2023 respectively


11,210


13,535

Other current assets


15,813


11,516

Discontinued operations


54,454


93,488

Total current assets


151,716


159,803






Non-current assets





Other assets


3,727


3,596

Discontinued operations


112


305

Total non-current assets


3,839


3,901






Total assets


155,555


163,704






Liabilities and equity





Current liabilities





Accounts payable


3,310


4,462

Bank borrowings


36,932


1,965

Other current liabilities


23,830


20,200

Discontinued operations


56,607


93,445

Total current liabilities


120,679


120,072






Non-current liabilities





Other liabilities


221


551

Discontinued operations


1,463


1,829

Total non-current liabilities


1,684


2,380






Total liabilities


122,363


122,452

Equity





Ordinary shares – Class A (US$0.001 par value; 80,000,000 shares authorized
   as of June 30, 2024 and December 31, 2023, respectively; 38,752,446
   shares and 44,477,356 shares issued and outstanding as of June 30, 2024
   and December 31, 2023, respectively)


39


45

Ordinary shares – Class B (US$0.001 par value; 20,000,000 shares authorized as
    of June 30, 2024 and December 31, 2023, respectively; 5,034,427 shares issued
   and outstanding as of June 30, 2024 and December 31, 2023, respectively)


5


5

Treasury shares (218,396 shares and 6,398,616 shares as of June 30, 2024
   and December 31, 2023, respectively)


(39)


(28,656)

Other reserves


31,853


65,731

Total iClick Interactive Asia Group Limited shareholders' equity


31,858


37,125

Non-controlling interests


1,334


4,127






Total equity


33,192


41,252






Total liabilities and equity


155,555


163,704

 

source: iClick Interactive Asia Group Limited

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