BEIJING, Sept. 29, 2021 /PRNewswire/ — iHuman Inc. (NYSE: IH) (“iHuman” or the “Firm”), a number one supplier of tech-powered sensible studying merchandise in China, right this moment introduced its unaudited monetary outcomes for the second quarter ended June 30, 2021.
Second Quarter 2021 Highlights
- Complete revenues have been RMB221.Three million (US$34.Three million), a year-over-year enhance of 105.9%.
- Revenues from on-line subscriptions have been RMB199.2 million (US$30.9 million), a year-over-year enhance of 110.1%.
- Gross revenue was RMB154.Three million (US$23.9 million), a year-over-year enhance of 109.5%.
- Working loss was RMB3.5 million (US$0.5 million), in contrast with an working earnings of RMB8.Four million in the identical interval final yr.
- Adjusted working earnings[1] was RMB0.Eight million (US$0.1 million), in contrast with RMB8.Four million in the identical interval final yr.
- Web earnings was RMB1.9 million (US$0.Three million), in contrast with RMB7.2 million in the identical interval final yr.
- Adjusted web earnings[1] was RMB6.1 million (US$1.Zero million), in contrast with RMB7.2 million in the identical interval final yr.
- Common complete MAUs[2] for the second quarter have been 15.47 million, a year-over-year enhance of 49.6%.
- Variety of paying customers[3] for the second quarter was 1.48 million, a year-over-year enhance of 9.2%.
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[1] “Adjusted working earnings (loss)” and “adjusted web earnings (loss)” exclude share-based compensation bills. Please see “Non-GAAP Monetary Measures” and “Unaudited Reconciliation of GAAP and non-GAAP Outcomes” on the finish of this press launch. |
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[2] “Common complete MAUs” refers back to the month-to-month common of the sum of the MAUs of every of the Firm’s apps throughout a selected interval, which is counted based mostly on the variety of distinctive cellular gadgets by which such app is accessed at the very least as soon as in a given month, and duplicate entry to totally different apps just isn’t eradicated from the full MAUs calculation. |
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[3] “Paying customers” refers to customers who paid subscription charges for the premium content material on any of the Firm’s apps throughout a selected interval; a consumer who makes funds throughout totally different apps utilizing the identical registered account is counted as one paying consumer, and a consumer who makes funds for a similar app a number of occasions in the identical interval is counted as one paying consumer. |
Dr. Peng Dai, Director and Chief Government Officer of iHuman, commented, “We’re happy to report one other stable quarter regardless of the influence of seasonality. Within the second quarter, we additional bolstered our main place by executing our product-centric technique and remaining dedicated to our tenet of serving to youngsters take pleasure in their childhood and stimulating their pure curiosity in studying. By continuously enhancing and increasing our content material, in addition to broadening our complete merchandise portfolio, we’re in a position to higher assist the all-around improvement of children. In August 2021, we formally unveiled “iHumanpedia,” a self-directed edutainment on-line app that helps youngsters be taught concerning the fundamentals of STEM by brief and fascinating animated movies, in addition to immersive interactions. Every video is rigorously designed to stimulate youngsters’ curiosity in studying, and has been created with content material that’s acceptable for the stage of their cognitive improvement. As well as, we have now additionally actively labored to assist promote instructional equality in China. Within the August of final yr, we launched the “Dream Chasing Initiative,” a charity program aiming to assist kids in distant communities that lack entry to high quality training. Since then, our group has visited various faculties in rural villages in China and helped native youngsters entry high-quality studying assets by our complete merchandise. On this September, we as soon as once more despatched out our care and assist to varsities in such areas. We’re additionally proud to have made donations to varsities in distant areas.”
Ms. Vivien Weiwei Wang, Director and Chief Monetary Officer of iHuman, added, “Regardless of the weak seasonality, our second quarter outcomes nonetheless got here in keeping with our expectations as we drove continued enhancements in content material and consumer engagement. We continued to extend our investments in R&D, which assist our capabilities to offer actually interactive and immersive studying experiences that assist youngsters be taught successfully whereas having enjoyable. Underpinned by our complete content material and technological strengths, our self-directed apps continued to realize traction amongst Millennial and Gen-Z dad and mom. Going ahead, we are going to proceed to execute our methods in keeping with our tenet, leverage our trade main interactive content material and edutainment applied sciences to offer customers with top-notch merchandise, additional diversify our merchandise to raised meet the evolving and various wants of our customers, and drive sustainable development over the long run.”
Second Quarter 2021 Unaudited Monetary Outcomes
Revenues
Complete revenues have been RMB221.Three million (US$34.Three million), a rise of 105.9% from RMB107.5 million in the identical interval final yr.
Revenues from on-line subscriptions have been RMB199.2 million (US$30.9 million), a rise of 110.1% from RMB94.Eight million in the identical interval final yr, primarily pushed by consumer enlargement and enhanced consumer engagement. Common complete MAUs for the quarter have been 15.47 million, a rise of 49.6% year-over-year from 10.34 million in the identical interval final yr. The variety of paying customers for the quarter was 1.48 million, a year-over-year enhance of 9.2% from 1.35 million in the identical interval final yr.
Revenues from offline merchandise and others have been RMB22.1 million (US$3.Four million), a rise of 73.9% from RMB12.7 million in the identical interval final yr, primarily as a result of resumption of offline enterprise actions because of the alleviation of the COVID-19 pandemic.
Price of Revenues
Price of revenues have been RMB67.Zero million (US$10.Four million), a rise of 98.0% from RMB33.Eight million in the identical interval final yr, primarily as a result of enhance in channel and product prices, which was in keeping with the Firm’s income enlargement.
Gross Revenue and Gross Margin
Gross revenue was RMB154.Three million (US$23.9 million), a rise of 109.5% from RMB73.6 million in the identical interval final yr. Gross margin was 69.7%, in contrast with 68.5% in the identical interval final yr. The rise in gross margin was primarily attributable to the sturdy development of the Firm’s on-line subscriptions enterprise, which has a better gross margin, in addition to a rebound of gross margin of the offline enterprise as a result of alleviation of the COVID-19 pandemic.
Working Bills
Complete working bills have been RMB157.7 million (US$24.Four million), a rise of 141.7% from RMB65.Three million in the identical interval final yr.
Analysis and improvement bills have been RMB93.1 million (US$14.Four million), a rise of 128.5% from RMB40.7 million in the identical interval final yr, primarily on account of an increase in payroll-related bills and outsourcing bills because the Firm continued to broaden its analysis and improvement capabilities and to boost and develop its edutainment merchandise.
Gross sales and advertising bills have been RMB45.Three million (US$7.Zero million), a rise of 257.1% from RMB12.7 million in the identical interval final yr, primarily on account of a rise in promoting and promotion bills because the Firm strategically strengthened its model recognition as a publicly listed firm, in addition to a rise in payroll-related bills.
Normal and administrative bills have been RMB19.4 million (US$3.Zero million), a rise of 63.2% from RMB11.9 million in the identical interval final yr, primarily on account of a rise in payroll-related bills and compliance prices associated to being a publicly listed firm.
Working Earnings (Loss)
Working loss was RMB3.5 million (US$0.5 million), in contrast with an working earnings of RMB8.Four million in the identical interval final yr.
Excluding share-based compensation bills, adjusted working earnings was RMB0.Eight million (US$0.1 million), in contrast with RMB8.Four million in the identical interval final yr.
Web Earnings
Web earnings was RMB1.9 million (US$0.Three million), in contrast with RMB7.2 million in the identical interval final yr.
Adjusted web earnings was RMB6.1 million (US$1.Zero million), in contrast with RMB7.2 million in the identical interval final yr.
Web earnings attributable to strange shareholders was RMB1.9 million (US$0.Three million), in contrast with RMB3.Eight million in the identical interval final yr.
Adjusted web earnings attributable to strange shareholders was RMB6.1 million (US$1.Zero million), in contrast with RMB3.Eight million in the identical interval final yr.
Primary and diluted web earnings per ADS have been RMB0.04 (US$0.01) and RMB0.03 (US$0.01), respectively, in contrast with primary and diluted web earnings of RMB0.09 in the identical interval final yr. Every ADS represents 5 Class A strange shares of the Firm.
Adjusted diluted web earnings per ADS was RMB0.11 (US$0.02), in contrast with RMB0.09 in the identical interval final yr.
Deferred Income and Buyer Advances
Deferred income and buyer advances have been RMB330.8 million (US$51.2 million) as of June 30, 2021, in contrast with RMB268.6 million as of December 31, 2020, primarily pushed by consumer enlargement and enhanced consumer engagement.
Money and Money Equivalents
Money and money equivalents have been RMB893.Zero million (US$138.Three million) as of June 30, 2021, in contrast with RMB861.7 million as of December 31, 2020.
Trade Price Data
The U.S. greenback (US$) quantities disclosed on this press launch, aside from these transaction quantities that have been truly settled in U.S. {dollars}, are offered solely for the comfort of the reader. The conversion of Renminbi (RMB) into US$ on this launch relies on the midday shopping for price in The Metropolis of New York for cable transfers in RMB per US$ as licensed for customs functions by the Federal Reserve Financial institution of New York as of June 30, 2021, which was RMB6.4566 to US$1.00. The odds acknowledged on this press launch are calculated based mostly on the RMB quantities.
Non-GAAP Monetary Measures
iHuman considers and makes use of non-GAAP monetary measures, comparable to adjusted working earnings (loss), adjusted web earnings (loss), adjusted web earnings (loss) attributable to strange shareholders and adjusted diluted web earnings (loss) per ADS, as supplemental metrics in reviewing and assessing its working efficiency and formulating its marketing strategy. The presentation of non-GAAP monetary measures just isn’t meant to be thought of in isolation or as an alternative to the monetary data ready and offered in accordance with accounting ideas usually accepted in the US of America (“U.S. GAAP”). iHuman defines adjusted working earnings (loss), adjusted web earnings (loss), adjusted web earnings (loss) attributable to strange shareholders and adjusted diluted web earnings (loss) per ADS excluding share-based compensation bills. Adjusted working earnings (loss), adjusted web earnings (loss), adjusted web earnings (loss) attributable to strange shareholders and adjusted diluted web earnings (loss) per ADS allow iHuman’s administration to evaluate its working outcomes with out contemplating the influence of share-based compensation bills, that are non-cash expenses. iHuman believes that these non-GAAP monetary measures present helpful data to buyers in understanding and evaluating the Firm’s present working efficiency and prospects in the identical method as administration does, in the event that they so select.
Non-GAAP monetary measures usually are not outlined beneath U.S. GAAP and usually are not offered in accordance with U.S. GAAP. Non-GAAP monetary measures have limitations as analytical instruments, which probably doesn’t mirror all objects of expense that have an effect on our operations. Share-based compensation bills have been and should proceed to be incurred in our enterprise and usually are not mirrored within the presentation of adjusted web earnings (loss) attributable to the Firm’s strange shareholders. As well as, the non-GAAP monetary measures iHuman makes use of might differ from the non-GAAP measures makes use of by different corporations, together with peer corporations, and subsequently their comparability could also be restricted. The presentation of those non-GAAP monetary measures just isn’t meant to be thought of in isolation from or as an alternative to the monetary data ready and offered in accordance with GAAP.
Secure Harbor Assertion
This announcement comprises forward-looking statements. These statements are made beneath the “secure harbor” provisions of the US Personal Securities Litigation Reform Act of 1995. These forward-looking statements might be recognized by terminology comparable to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and comparable statements. Statements that aren’t historic details, together with statements about iHuman’s beliefs and expectations, are forward-looking statements. Amongst different issues, the outline of the administration’s quotations on this announcement comprises forward-looking statements. iHuman might also make written or oral forward-looking statements in its periodic stories to the U.S. Securities and Trade Fee (the “SEC”), in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers to 3rd events. Ahead-looking statements contain inherent dangers and uncertainties. A lot of elements might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: iHuman’s development methods; its future enterprise improvement, monetary situation and outcomes of operations; its means to proceed to draw and retain customers, convert non-paying customers into paying customers and enhance the spending of paying customers, the tendencies in, and dimension of, China’s edutainment market; its expectations concerning demand for, and market acceptance of, its services; its expectations concerning its relationships with enterprise companions; normal financial and enterprise circumstances; and assumptions underlying or associated to any of the foregoing. Additional data concerning these and different dangers is included in iHuman’s filings with the SEC. All data offered on this press launch is as of the date of this press launch, and iHuman doesn’t undertake any obligation to replace any forward-looking assertion, besides as required beneath relevant regulation.
About iHuman Inc.
iHuman Inc. is a number one supplier of tech-powered sensible studying merchandise in China that’s dedicated to remodeling studying right into a enjoyable journey for each youngster. Benefiting from a deep legacy that mixes a robust basis in edutainment, a long time of trade expertise with cutting-edge applied sciences, and an excellent status for authentic leisure content material, iHuman gives kids with distinctive, interactive, and entertaining experiences to stimulate their pure curiosity and curiosity in studying. The Firm’s complete suite of progressive and high-quality merchandise embody interactive and self-directed on-line apps and offline merchandise that cowl a broad number of areas to develop kids’s creativity and talents in impartial studying, important pondering, and scientific reasoning and foster their pure curiosity in conventional Chinese language tradition. Leveraging superior technological capabilities, together with 3D engines, proprietary edutainment know-how, AI/AR performance, and massive information evaluation, iHuman believes it’ll proceed to offer superior studying experiences which can be efficient and enjoyable for youngsters in China and everywhere in the world by its built-in suite of tech-powered sensible studying merchandise.
For extra details about iHuman, please go to https://ir.ihuman.com/.
For investor and media enquiries, please contact:
iHuman Inc.
Ms. Cynthia Tan, CFA
Cellphone: +86 10 5780-6606
E-mail: [email protected]
Christensen
In China
Mr. Eric Yuan
Cellphone: +86-13801110739
E-mail: [email protected]
In US
Ms. Linda Bergkamp
Cellphone: +1-480-614-3004
E-mail: [email protected]
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iHuman Inc. |
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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
|||||
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(Quantities in 1000’s of Renminbi (“RMB”) and U.S. {dollars} (“US$”) |
|||||
|
aside from variety of shares, ADSs, per share and per ADS information) |
|||||
|
December 31, |
June 30, |
June 30, |
|||
|
2020 |
2021 |
2021 |
|||
|
RMB |
RMB |
US$ |
|||
|
ASSETS |
|||||
|
Present belongings |
|||||
|
Money and money equivalents |
861,682 |
893,025 |
138,312 |
||
|
Accounts receivable, web |
77,965 |
87,538 |
13,558 |
||
|
Quantities due from associated events |
322 |
2,299 |
356 |
||
|
Inventories, web |
16,873 |
21,363 |
3,309 |
||
|
Prepayments and different present belongings |
64,619 |
85,228 |
13,200 |
||
|
Complete present belongings |
1,021,461 |
1,089,453 |
168,735 |
||
|
Non-current belongings |
|||||
|
Property and tools, web |
6,390 |
11,502 |
1,781 |
||
|
Intangible belongings, web |
11,789 |
18,903 |
2,928 |
||
|
Working lease right-to-use belongings |
6,521 |
26,208 |
4,059 |
||
|
Different non-current belongings |
784 |
784 |
121 |
||
|
Complete non-current belongings |
25,484 |
57,397 |
8,889 |
||
|
Complete belongings |
1,046,945 |
1,146,850 |
177,624 |
||
|
LIABILITIES |
|||||
|
Present liabilities |
|||||
|
Accounts payable |
21,551 |
28,613 |
4,432 |
||
|
Quantities on account of associated events |
485 |
9,107 |
1,410 |
||
|
Deferred income and buyer advances |
268,613 |
330,776 |
51,231 |
||
|
Accrued bills and different present liabilities |
107,029 |
95,725 |
14,826 |
||
|
Present working lease liabilities |
1,544 |
12,963 |
2,008 |
||
|
Complete present liabilities |
399,222 |
477,184 |
73,907 |
||
|
Non-current liabilities |
|||||
|
Non-current working lease liabilities |
5,070 |
12,721 |
1,970 |
||
|
Complete non-current liabilities |
5,070 |
12,721 |
1,970 |
||
|
Complete liabilities |
404,292 |
489,905 |
75,877 |
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|
SHAREHOLDERS’ EQUITY |
|||||
|
Abnormal shares (par worth of US$0.0001 per share, |
184 |
184 |
28 |
||
|
Extra paid-in capital |
1,050,304 |
1,061,587 |
164,419 |
||
|
Gathered different complete loss |
(21,861) |
(27,905) |
(4,322) |
||
|
Gathered deficit |
(385,974) |
(376,921) |
(58,378) |
||
|
Complete shareholders’ fairness |
642,653 |
656,945 |
101,747 |
||
|
Complete liabilities and shareholders’ fairness |
1,046,945 |
1,146,850 |
177,624 |
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|
iHuman Inc. |
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
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|
(Quantities in 1000’s of Renminbi (“RMB”) and U.S. {dollars} (“US$”) |
|||||||||||||
|
aside from variety of shares, ADSs, per share and per ADS information) |
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|
For the three months ended |
For the six months ended |
||||||||||||
|
June 30, |
March 31, |
June 30, |
June 30, |
June 30, |
June 30, |
June 30, |
|||||||
|
2020 |
2021 |
2021 |
2021 |
2020 |
2021 |
2021 |
|||||||
|
RMB |
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
|||||||
|
Revenues |
|||||||||||||
|
On-line subscriptions |
94,799 |
191,860 |
199,198 |
30,852 |
152,462 |
391,058 |
60,567 |
||||||
|
Offline merchandise and others |
12,685 |
34,798 |
22,061 |
3,417 |
33,014 |
56,859 |
8,806 |
||||||
|
Complete Revenues |
107,484 |
226,658 |
221,259 |
34,269 |
185,476 |
447,917 |
69,373 |
||||||
|
Price of revenues |
|||||||||||||
|
On-line subscriptions |
(23,847) |
(46,970) |
(50,645) |
(7,844) |
(39,529) |
(97,615) |
(15,119) |
||||||
|
Offline merchandise and others |
(9,994) |
(18,434) |
(16,351) |
(2,532) |
(20,587) |
(34,785) |
(5,388) |
||||||
|
Gross revenue |
73,643 |
161,254 |
154,263 |
23,893 |
125,360 |
315,517 |
48,866 |
||||||
|
Working bills |
|||||||||||||
|
Analysis and improvement bills |
(40,717) |
(82,112) |
(93,053) |
(14,412) |
(73,674) |
(175,165) |
(27,130) |
||||||
|
Gross sales and advertising bills |
(12,685) |
(52,927) |
(45,298) |
(7,016) |
(28,383) |
(98,225) |
(15,213) |
||||||
|
Normal and administrative bills |
(11,862) |
(22,569) |
(19,364) |
(2,999) |
(17,464) |
(41,933) |
(6,495) |
||||||
|
Complete working bills |
(65,264) |
(157,608) |
(157,715) |
(24,427) |
(119,521) |
(315,323) |
(48,838) |
||||||
|
Working earnings (loss) |
8,379 |
3,646 |
(3,452) |
(534) |
5,839 |
194 |
28 |
||||||
|
Different earnings, web |
794 |
3,545 |
5,121 |
793 |
1,759 |
8,666 |
1,342 |
||||||
|
Earnings earlier than earnings taxes |
9,173 |
7,191 |
1,669 |
259 |
7,598 |
8,860 |
1,370 |
||||||
|
Earnings tax profit (bills) |
(1,957) |
(45) |
238 |
37 |
(1,957) |
193 |
30 |
||||||
|
Web earnings |
7,216 |
7,146 |
1,907 |
296 |
5,641 |
9,053 |
1,400 |
||||||
|
Accretion to redemption worth of contingently redeemable |
(3,459) |
– |
– |
– |
(6,449) |
– |
– |
||||||
|
Web earnings (loss) attributable to strange shareholders |
3,757 |
7,146 |
1,907 |
296 |
(808) |
9,053 |
1,400 |
||||||
|
Web earnings (loss) attributable to strange shareholders |
|||||||||||||
|
– Primary |
0.09 |
0.13 |
0.04 |
0.01 |
(0.02) |
0.17 |
0.03 |
||||||
|
– Diluted |
0.09 |
0.13 |
0.03 |
0.01 |
(0.02) |
0.16 |
0.03 |
||||||
|
Weighted common variety of ADSs: |
|||||||||||||
|
– Primary |
43,010,752 |
53,324,476 |
53,324,476 |
53,324,476 |
43,010,752 |
53,324,476 |
53,324,476 |
||||||
|
– Diluted |
43,010,752 |
55,132,687 |
54,680,936 |
54,680,936 |
43,010,752 |
54,920,644 |
54,920,644 |
||||||
|
Complete share-based compensation bills included in: |
|||||||||||||
|
Price of revenues |
– |
267 |
257 |
40 |
– |
524 |
81 |
||||||
|
Analysis and improvement bills |
– |
3,711 |
1,524 |
236 |
– |
5,235 |
811 |
||||||
|
Gross sales and advertising bills |
– |
1,177 |
986 |
153 |
– |
2,163 |
335 |
||||||
|
Normal and administrative bills |
– |
1,903 |
1,458 |
226 |
– |
3,361 |
521 |
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|
iHuman Inc. |
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UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
|||||||||||||
|
(Quantities in 1000’s of Renminbi (“RMB”) and U.S. {dollars} (“US$”) |
|||||||||||||
|
aside from variety of shares, ADSs, per share and per ADS information) |
|||||||||||||
|
For the three months ended |
For the six months ended |
||||||||||||
|
June 30, |
March 31, |
June 30, |
June 30, |
June 30, |
June 30, |
June 30, |
|||||||
|
2020 |
2021 |
2021 |
2021 |
2020 |
2021 |
2021 |
|||||||
|
RMB |
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
|||||||
|
Working earnings (loss) |
8,379 |
3,646 |
(3,452) |
(534) |
5,839 |
194 |
28 |
||||||
|
Share-based compensation bills |
– |
7,058 |
4,225 |
655 |
– |
11,283 |
1,748 |
||||||
|
Adjusted working earnings |
8,379 |
10,704 |
773 |
121 |
5,839 |
11,477 |
1,776 |
||||||
|
Web earnings |
7,216 |
7,146 |
1,907 |
296 |
5,641 |
9,053 |
1,400 |
||||||
|
Share-based compensation bills |
– |
7,058 |
4,225 |
655 |
– |
11,283 |
1,748 |
||||||
|
Adjusted web earnings |
7,216 |
14,204 |
6,132 |
951 |
5,641 |
20,336 |
3,148 |
||||||
|
Accretion to redemption worth of contingently |
(3,459) |
– |
– |
– |
(6,449) |
– |
– |
||||||
|
Adjusted web earnings (loss) attributable to strange |
3,757 |
14,204 |
6,132 |
951 |
(808) |
20,336 |
3,148 |
||||||
|
Diluted web earnings (loss) per ADS |
0.09 |
0.13 |
0.03 |
0.01 |
(0.02) |
0.16 |
0.03 |
||||||
|
Impression of non-GAAP changes |
– |
0.13 |
0.08 |
0.01 |
– |
0.21 |
0.03 |
||||||
|
Adjusted diluted web earnings (loss) per ADS |
0.09 |
0.26 |
0.11 |
0.02 |
(0.02) |
0.37 |
0.06 |
||||||
|
Weighted common variety of ADSs – diluted |
43,010,752 |
55,132,687 |
54,680,936 |
54,680,936 |
43,010,752 |
54,920,644 |
54,920,644 |
||||||
|
Weighted common variety of ADSs – adjusted |
43,010,752 |
55,132,687 |
54,680,936 |
54,680,936 |
43,010,752 |
54,920,644 |
54,920,644 |
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SOURCE iHuman Inc.
Associated Hyperlinks
www.ihuman.com