BEIJING, May 29, 2023 /PRNewswire/ — Jianpu Technology Inc. (“Jianpu,” or the “Company”) (NYSE: JT), a number one impartial open platform for the invention and advice of economic merchandise in China, as we speak introduced its unaudited monetary outcomes for the primary quarter ended March 31, 2023.

First Quarter 2023 Operational and Financial Highlights:

• Total revenues from advice companies for the primary quarter of 2023 elevated by 30.9% to RMB188.6 million (US$27.5 million) from RMB144.1 million in the identical interval of 2022, primarily pushed by the rise within the variety of mortgage functions and common price per mortgage utility for mortgage advice companies by 7.7% year-over-year to roughly 4.2 million and 26.7% year-over-year to RMB14.7 (US$2.1), respectively, in addition to the rise within the bank card quantity by 22.2% year-over-year to roughly 1.1 million.

• Revenues from huge information and system-based threat administration companies resumed development by a rise of 11.9% to RMB22.6 million (US$3.3 million) within the first quarter of 2023 from RMB20.2 million in the identical interval of 2022, primarily attributable to the rise in common spending per buyer.

• Revenues from advertising and marketing and different companies^[1] elevated by 80.8% to RMB78.1 million (US$11.4 million) within the first quarter of 2023 from RMB43.2 million in the identical interval of 2022, primarily attributable to the rise of income from different new enterprise initiatives, demonstrating the continued development momentum by way of class growth.

• Loss from operations was RMB23.6 million (US$3.4 million) within the first quarter of 2023, in contrast with RMB54.6 million in the identical interval of 2022. Operating loss margin was 8.1% within the first quarter of 2023, in contrast with 26.3% in the identical interval of 2022. The enchancment in loss from operations was primarily attributable to the rise in revenues and the lower in working bills ensuing from the Company’s continued efforts in effectivity enchancment and value optimization.

• Net loss was RMB20.8 million (US$3.0 million) within the first quarter of 2023, in contrast with RMB53.0 million in the identical interval of 2022. Net loss margin was 7.2% within the first quarter of 2023, in contrast with 25.6% in the identical interval of 2022.

• Non-GAAP adjusted web loss^[2] was RMB19.4 million (US$2.8 million) within the first quarter of 2023, in contrast with Non-GAAP adjusted web loss^[2] of RMB50.7 million in the identical interval of 2022. Non-GAAP adjusted web loss margin^[2] was 6.7% within the first quarter of 2023, in contrast with 24.4% in the identical interval of 2022.

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Mr. David Ye, Co-founder, Chairman and Chief Executive Officer of Jianpu, commented, “Our capital-light platform and diversification strategies allowed us to deliver a robust revenue growth of 39.4% year-over-year in the first quarter 2023 despite the ongoing challenges caused by the lagging COVID effects. A noteworthy 60.8% year-over-year reduction in net losses culminated in a net loss margin of 7.2% in the first quarter, marking the third consecutive quarter of single-digit net loss margins.”

“We believe our business is well-positioned to benefit from the economic recovery thanks to our strong technological and operational capabilities, increasingly diversified revenue mix, ongoing efficiency gains, and disciplined cost controls. We aim to continue facilitating the digital transformation of financial industry and other categories and exploring the use of emerging Artificial Intelligence technologies like the Large Language Model to drive intelligent and inclusive finance,” concluded Mr. Ye.

“Our solid results in the first quarter of 2023 highlight our continued strategic focus on achieving a diversified and balanced revenue structure, improving operational efficiency and executing cost optimization initiatives. In the first quarter of 2023, our robust revenue growth was mainly driven by the increase in the recommendation services and marketing and other services, as well as the recovery of the big data and system-based risk management services. Driven by our improved productivity and continued cost optimization, we trimmed our Non-GAAP adjusted net loss^[2] by a substantial 61.7% year-over-year to RMB19.4 million (US$2.8 million) in the first quarter of 2023,” stated Oscar Chen, Chief Financial Officer of Jianpu.

First Quarter 2023 Financial Results

Total revenues for the primary quarter of 2023 have been RMB289.4 million (US$42.1 million), in contrast with RMB207.6 million in the identical interval of 2022.

Total revenues from advice companies elevated by 30.9% to RMB188.6 million (US$27.5 million) within the first quarter of 2023 from RMB144.1 million in the identical interval of 2022.

Revenues from advice companies for bank cards elevated by 30.1% to RMB127.0 million (US$18.5 million) within the first quarter of 2023 from RMB97.6 million in the identical interval of 2022. Credit card quantity elevated year-over-year by 22.2% to roughly 1.1 million within the first quarter of 2023. The common price per bank card was RMB114.3 (US$16.6) within the first quarter of 2023 and RMB110.0 in the identical interval of 2022, respectively.

Revenues from advice companies for loans elevated by 32.2% to RMB61.6 million (US$9.0 million) within the first quarter of 2023 from RMB46.6 million in the identical interval of 2022. The variety of mortgage functions was roughly 4.2 million within the first quarter of 2023, representing a 7.7% improve from that in the identical interval of 2022. The common price per mortgage utility elevated by 26.7% to RMB14.7 (US$2.1) within the first quarter of 2023 from RMB11.6 in the identical interval of 2022, ensuing from a extra optimized product combine.

Revenues from huge information and system-based threat administration companies elevated by 11.9% to RMB22.6 million (US$3.3 million) within the first quarter of 2023 from RMB20.2 million in the identical interval of 2022, primarily attributable to the rise in common spending per buyer.

Revenues from advertising and marketing and different companies^[1] elevated by 80.8% to RMB78.1 million (US$11.4 million) within the first quarter of 2023 from RMB43.2 million in the identical interval of 2022, primarily because of the improve of income from different new enterprise initiatives, demonstrating the continued development momentum by way of class growth.

Cost of promotion and acquisition elevated by 41.2% to RMB211.1 million (US$30.7 million) within the first quarter of 2023 from RMB149.5 million in the identical interval of 2022. The improve was primarily according to the rise in the Company’s revenues from advice companies and advertising and marketing and different companies.

Cost of operation was RMB18.4 million (US$2.7 million) within the first quarter of 2023, which was comparatively secure in contrast with RMB18.5 million in the identical interval of 2022.

Sales and advertising and marketing bills decreased by 6.2% to RMB31.8 million (US$4.6 million) within the first quarter of 2023 from RMB33.9 million in the identical interval of 2022. The lower was primarily because of the decreases in payroll bills, rental bills and travelling and leisure bills ensuing from the Company’s continued efforts in price optimization, partially offset by a rise in consumer service-related bills.

Research and improvement bills decreased by 15.1% to RMB25.3 million (US$3.7 million) within the first quarter of 2023 from RMB29.8 million in the identical interval of 2022, primarily because of the decreases in payroll bills and rental bills ensuing from the Company’s continued efforts in price optimization.

General and administrative bills decreased by 13.4% to RMB26.4 million (US$3.9 million) within the first quarter of 2023 from RMB30.5 million in the identical interval of 2022, primarily because of the decreases in allowance for credit score losses and payroll bills ensuing from the Company’s continued efforts in price optimization, partially offset by a rise in skilled price.

Loss from operations was RMB23.6 million (US$3.4 million) within the first quarter of 2023, in contrast with RMB54.6 million in the identical interval of 2022. Operating loss margin was 8.1% within the first quarter of 2023, in contrast with 26.3% in the identical interval of 2022. The lower in working loss was primarily attributable to the rise in revenues and reduce in working bills ensuing from the Company’s continued efforts in effectivity enchancment and value optimization.

Others, web represented a achieve of RMB2.2 million (US$0.3 million) within the first quarter of 2023, in contrast with a achieve of RMB2.8 million in the identical interval of 2022. The achieve within the first quarter of 2023 was primarily attributable to the funding achieve of RMB1.7 million from the funding in Conflux Global, a decentralized functions block-chain answer supplier; whereas the achieve within the first quarter of 2022 was primarily attributable to the achieve arising from tax profit for value-added tax of RMB2.2 million.

Net loss was RMB20.8 million (US$3.0 million) within the first quarter of 2023 in contrast with RMB53.0 million in the identical interval of 2022. Net loss margin was 7.2% within the first quarter of 2023, in contrast with 25.6% in the identical interval of 2022.

Non-GAAP adjusted web loss^[2], which excluded share-based compensation bills, was RMB19.4 million (US$2.8 million) within the first quarter of 2023, in contrast with RMB50.7 million in the identical interval of 2022. Non-GAAP adjusted web loss margin^[2] was 6.7% within the first quarter of 2023 in contrast with 24.4% in the identical interval of 2022.

Non-GAAP adjusted EBITDA^[3], which excluded share-based compensation bills, depreciation and amortization, curiosity earnings and bills, and earnings tax advantages from web loss for the primary quarter of 2023 was a lack of RMB18.9 million (US$2.8 million), in contrast with a lack of RMB48.1 million in the identical interval of 2022.

As of March 31, 2023, the Company had money and money equivalents, restricted money and time deposits of RMB613.5 million (US$89.3 million), and dealing capital of roughly RMB342.4 million (US$49.9 million). Compared to these as of December 31, 2022, money and money equivalents, restricted money and time deposits decreased by RMB70.7 million, which was primarily attributable to web money utilized in working actions.

Subsequent Events

In May 2023, the Company entered right into a share switch settlement with the founder and minority shareholder of Newsky Wisdom Treasure (Beijing) Co., Ltd. (“Newsky Wisdom”), which is among the subsidiaries of the Company earlier than the completion of the share switch. According to the share switch settlement, on the closing, which is predicted to be round mid-2023, the Company will switch 35.5% of its shares to the founding father of Newsky Wisdom and can not be the controlling shareholder of Newsky Wisdom. As of December 31, 2022 and March 31, 2023, the contribution of Newsky Wisdom to the Company by way of each income and whole belongings was lower than 5%. The share switch is predicted to don’t have any materials affect on the Company’s operations and monetary place.

Conference Call

The Company’s administration will host an earnings convention name at 8:00 PM U.S. Eastern Time on May 29, 2023 (8:00 AM Beijing/Hong Kong Time on May 30, 2023).

Dial-in particulars for the earnings convention name are as follows:

Participants ought to dial-in no less than 5 minutes earlier than the scheduled begin time and ask to be linked to the decision for “Jianpu Technology Inc.”

Additionally, a reside and archived webcast of the convention name shall be accessible on the Company’s investor relations web site at http://ir.jianpu.ai.

A replay of the convention name shall be accessible roughly one hour after the conclusion of the reside name till June 5, 2023, by dialing the next phone numbers:

About Jianpu Technology Inc.

Jianpu Technology Inc. is a number one impartial open platform for the invention and advice of economic merchandise in China. The Company connects customers with monetary service suppliers in a handy, environment friendly, and safe approach. By leveraging its proprietary expertise, Jianpu gives customers with personalized search outcomes and suggestions tailor-made to every consumer’s specific monetary wants and profile. The Company additionally permits monetary service suppliers with gross sales and advertising and marketing options to succeed in and serve their goal prospects extra successfully by way of built-in channels and improve their competitiveness by offering them with tailor-made information, threat administration companies and options. The Company is dedicated to sustaining an impartial open platform, which permits it to serve the wants of customers and monetary service suppliers impartially. For extra info, please go to http://ir.jianpu.ai.

Use of Non-GAAP Financial Measures

The Company makes use of adjusted EBITDA and adjusted web (loss)/earnings, every a Non-GAAP monetary measure, in evaluating its working outcomes and for monetary and operational decision-making functions.

The Company believes that adjusted EBITDA and adjusted web (loss)/earnings assist establish underlying traits in its enterprise that might in any other case be distorted by the impact of the bills and features that the Company embrace in (loss)/earnings from operations and web (loss)/earnings. The Company believes that adjusted EBITDA and adjusted web (loss)/earnings present helpful details about its working outcomes, improve the general understanding of its previous efficiency and future prospects and permit for better visibility with respect to key metrics utilized by its administration in its monetary and operational decision-making.

Adjusted EBITDA and adjusted web (loss)/earnings shouldn’t be thought-about in isolation or construed as options to web (loss)/earnings or some other measure of efficiency or as indicators of the Company’s working efficiency. Investors are inspired to assessment the historic Non-GAAP monetary measures to probably the most immediately comparable GAAP measures. Adjusted EBITDA and adjusted web (loss)/earnings offered right here might not be akin to equally titled measures offered by different corporations. Other corporations could calculate equally titled measures in another way, limiting their usefulness as comparative measures to the Company’s information. The Company encourages traders and others to assessment its monetary info in its entirety and never depend on a single monetary measure.

Adjusted EBITDA represents EBITDA earlier than share-based compensation bills. EBITDA represents web (loss)/earnings earlier than curiosity, tax, depreciation and amortization.

Adjusted web (loss)/earnings represents web (loss)/earnings earlier than share-based compensation bills.

For extra info on this Non-GAAP monetary measure, please see the desk captioned “Unaudited Reconciliations of GAAP and Non-GAAP results” set forth on the finish of this press launch.

Safe Harbor Statement

This announcement comprises forward-looking statements. These statements are made below the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements could be recognized by terminology reminiscent of “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and related statements. Statements that aren’t historic information, together with statements concerning the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements contain inherent dangers and uncertainties. Quite a few elements may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the Company’s targets and techniques; the Company’s future enterprise improvement, monetary situation and outcomes of operations; the Company’s expectations concerning demand for, and market acceptance of, its options and companies; the Company’s expectations concerning conserving and strengthening its relationships with customers, monetary service suppliers and different events it collaborates with; traits, competitors and regulatory insurance policies regarding the industries the Company operates in; normal financial and enterprise circumstances globally and in China; and assumptions underlying or associated to any of the foregoing. Further info concerning these and different dangers is included within the Company’s filings with the SEC. All info supplied on this press launch and within the attachments is as of the date of this press launch, and the Company undertakes no obligation to replace any forward-looking assertion, besides as required below relevant regulation.

For investor and media inquiries, please contact:

In China: 
Jianpu Technology Inc. 
(IR) Oscar Chen, E-mail: IR@rong360.com 
(PR) Amanda Hu, E-mail: Media@rong360.com 
Tel: +86 (10) 6242 7068

Christensen
Suri Cheng, E-mail: suri.cheng@christensencomms.com 
Tel: +86 185 0060 8364  
Crystal Lai, E-mail: crystal.lai@christensencomms.com 
Tel: +852 2232 3907

In US:

Christensen
Linda Bergkamp, E-mail: linda.bergkamp@christensencomms.com 
Tel: +1 480 353 6648

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SOURCE Jianpu Technology Inc.