– Reaches Another Record Quarter in Key Financials –
– Enterprise Solutions Business Extends Record-breaking Growth for Four Consecutive Quarters –
Hong Kong, November 24, 2020 — iClick Interactive Asia Group Limited (“iClick” or the “Company”) (NASDAQ: ICLK), an independent online marketing and enterprise data solutions provider in China, today announced unaudited financial results for the third quarter ended September 30, 2020.
“We have delivered record revenue and gross profit in the third quarter of 2020, as China continues to recover from the coronavirus pandemic,” said Jian “T.J.” Tang, iClick’s Chief Executive Officer and Co-Founder. “Revenue for the third quarter was US$68.9 million, an increase of 27% from the same period of last year, while our gross profit rose to US$20.1 million, up 48% on a year-over-year basis. We recorded a net loss of US$7.1 million, primarily due to the fair value losses of convertible notes and derivative liabilities, as our stock price performance remained strong during the third quarter of 2020. However, our adjusted EBITDA increased by 225% year-over-year to US$4.7 million. In addition, we had adjusted net income of US$2.4 million in the third quarter of 2020. This marks the fourth consecutive quarter of adjusted net income. These solid results of operations are strong evidence of our brand customers’ recognition of the value added by our data-driven solutions.”
“These strong financial results were driven by continued growth in both our Marketing Solutions and Enterprise Solutions segments. The Marketing Solution segment, our core business, reached record revenue with a 17% year-over-year increase to US$60.1 million. Just as encouraging, the higher-margin Enterprise Solutions segment also set a revenue record with a 236% increase year-over-year to US$8.8 million in the third quarter of 2020. This was the fourth consecutive quarter of sequential growth in the Enterprise Solutions segment, and we reiterate our optimism regarding the future growth potential of this business, driven by a robust outlook for ‘smart retail’.”
“Following the equity financing in September, our cash position has become stronger, and we are well-capitalized not only to execute our business plan even better but also to seek M&A opportunities more actively as part of our growth strategy,” T.J. continued. “Lastly, the coronavirus epidemic has brought rapid changes to online consumer behaviour in China and we will continue to monitor the pandemic’s impact on our operations and keep our investors informed.”
Check out our full version of 2020 Q3 financial results here