iClick Interactive Asia Group Reports Second Quarter 2018 Unaudited Financial Results

iClick Interactive Asia Group (NASDAQ:ICLK), a leading independent online marketing and data technology platform announced its unaudited financial results for the second quarter ended June 30, 2018 with the company reporting revenues of US$42.7 million.

The company also reported that its total gross billing reached new highs of US$105.4 million.

As quoted in the press release:

“We are pleased to announce another quarter of strong growth and encouraging development with historical record highs in many key financial and operational metrics,” said Mr. Sammy Hsieh, Chief Executive Officer and Co-Founder of iClick. ““During the second quarter, our mobile audience solutions continued robust growth momentum with gross billing and net revenues realizing 133.7% and 56.9% year-over-year growth. More excitingly, with our efficient operational management, our adjusted EBITDA increased significantly to $0.85 million from $0.03 million for the same period last year. As a result, our adjusted net loss was further narrowed during the quarter. ”

Second quarter 2018 Financial and Operational Updates:

Gross profit for the second quarter of 2018 increased by 42.6% to US$9.9 million from US$7.0 million in the second quarter of 2017, primarily as a result of an increase in gross profit from mobile audience solutions.

Total operating expenses increased by 20.5% to US$11.1 million for the second quarter of 2018 from US$9.2 million for the second quarter of 2017. The increase was primarily due to increased marketing activities and use of professional services after the Company’s IPO.

Operating loss for the second quarter of 2018 was US$1.2 million, decreased by 48.2% from US$2.2 million during the second quarter of 2017, as a result of the above.

Net loss totaled US$2.6 million for the second quarter of 2018, decreasing from US$10.2 million for the second quarter of 2017. Net loss attributable to the Company’s shareholders per diluted ADS was US$0.05, compared with US$0.40 in the second quarter of 2017.

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