Jianpu Technology Reports Second Quarter 2018 Unaudited Financial Results

Jianpu Technology (NYSE:JT), a leading independent open platform for discovery and recommendation of financial products in China announced its unaudited financial results for the second quarter ended June 30, 2018.

The company reported total revenues of US$74.1 million which is up 91.6 percent as compared to same period in 2017.

As quoted in the press release:

Mr. David Ye, Chairman and Chief Executive Officer of Jianpu, commented, “We are pleased with solid operating and financial performance for the second quarter of 2018, highlighted by continued robust growth in both our credit card and loan application business. We’re also encouraged by rising demand for our big data and risk management services in the quarter in light of more competition and the evolving regulatory framework in the financial service sector. Our cooperation with financial service providers is becoming more diversified, with an increasing scope and depth to these collaborations. As a platform, Jianpu is dedicated to maintaining independent and open to enable financial service providers and deepening our relationship with them through complementary cross selling of our products and services.”

Second Quarter 2018 Operational Highlights:

• Number of loan applications submitted through the Company’s platform was approximately 21.2 million in the second quarter of 2018, representing an increase of approximately 11.0% from the same period of 2017 and an increase of approximately 75.2% from the first quarter of 2018.
• Credit card volume, which is the measure of the number of credit cards the Company generates revenues from, was approximately 1.6 million in the second quarter of 2018, representing an increase of approximately 167% from the same period of 2017 and an increase of approximately 6.7% from the first quarter of 2018.

Second Quarter 2018 Financial Highlights:

• Total revenues for the second quarter of 2018 increased by 91.6% to RMB490.4 million (US$74.1 million) from RMB256.0 million in the same period of 2017.

• Total recommendation services revenues for the second quarter of 2018 increased by 86.2% to RMB441.0 million (US$66.6 million) from RMB236.9 million in the same period of 2017.

• Gross profit increased by 85.3% to RMB431.2 million (US$65.2 million) in the second quarter of 2018 from RMB232.7 million in the same period of 2017. Gross margin was 87.9% in the second quarter of 2018, compared with 85.3% in the first quarter of 2018.

• Net loss was RMB61.1 million (US$9.2 million) in the second quarter of 2018 and was RMB17.4 million in the same period of 2017. Net loss margin was -12.5% in the second quarter of 2018 compared with -6.8% in the same period of 2017. Non-GAAP adjusted net loss was RMB28.5 million (US$4.3 million) in the second quarter of 2018 and was RMB16.9 million in the same period of 2017. Non-GAAP adjusted net margin^[1] improved to -5.8% from -6.6% in the same period of 2017.

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