GUANGZHOU, China, Nov. 16, 2022 (GLOBE NEWSWIRE) — LIZHI INC. (“LIZHI” or the “Company” or “We”) (NASDAQ: LIZI), an audio-based social and leisure platform, at the moment introduced its unaudited monetary outcomes for the third quarter ended September 30, 2022.
Third Quarter 2022 Financial and Operational Highlights
- Net revenues had been RMB565.2 million (US$79.5 million) within the third quarter of 2022, representing a 12% enhance from RMB504.8 million within the third quarter of 2021.
- Average whole cellular MAUs1 within the third quarter of 2022 was 49.7 million, in comparison with 58.9 million within the third quarter of 2021, primarily because of lowered commercial spending on customers with decrease commercialization functionality.
- Average whole month-to-month paying customers2 within the third quarter of 2022 was 476.7 thousand, in comparison with 485.5 thousand within the third quarter of 2021.
Mr. Jinnan (Marco) Lai, Founder and CEO of LIZHI, commented, “We are pleased to announce a strong performance for the third quarter, posting new record highs for both revenues and net income, demonstrating our market competitiveness and sustainability of our business model amidst the current macro conditions. In the third quarter, we remained focused on advancing our dual pillar approach of interactive entertainment plus audio-based social networking business and diversifying the product matrix through innovative product features. Internationally, we continued to strengthen our globalization capabilities; and the enhancement of our core technologies also empowered our global business expansion. Next, we will continue solidifying our core competencies, dedicated to creating greater value for our users and shareholders.”
Ms. Chengfang Lu, Acting Chief Financial Officer of LIZHI, stated, “Our third quarter results are a testament to our strategic execution ability, with quarterly revenues growing by 12% year-over-year and 10% quarter-over-quarter to a new record high of RMB565.2 million. As we unceasingly endeavor to optimize our operational efficiency, we achieved a profit for the fourth consecutive quarter on a GAAP basis in the third quarter of 2022, with net income growing 5% sequentially to RMB19.8 million. Going forward, we aim to continuously develop our product matrix, strengthen core technological capabilities, and unleash our commercialization potential to achieve sustainable growth over the long term.”
Third Quarter 2022 Unaudited Financial Results
Net revenues had been RMB565.2 million (US$79.5 million) within the third quarter of 2022, representing a rise of 12% from RMB504.8 million within the third quarter of 2021, primarily as a result of development in common consumer spending on our audio leisure merchandise. While sure areas have began to ease the COVID-19 associated restrictions, given the uncertainties as to the event of the pandemic, it’s troublesome to foretell the extent to which it would impression the Company’s operations past the third quarter of 2022. This will rely on the COVID-19’s growth in China and abroad, which can be topic to adjustments and uncertainties.
Cost of revenues was RMB376.2 million (US$52.9 million) within the third quarter of 2022, representing a 6% enhance from RMB353.6 million within the third quarter of 2021, primarily attributable to a rise within the income sharing charges to our content material creators because the Company’s revenues grew, and partially offset by decreases within the wage and welfare advantages bills associated to decreases in our operation’s headcount and share-based compensation bills.
Gross revenue was RMB189.1 million (US$26.6 million) within the third quarter of 2022, representing a rise of 25% from RMB151.3 million within the third quarter of 2021.
Non-GAAP gross revenue3 was RMB190.8 million (US$26.8 million) within the third quarter of 2022, representing a rise of 24% from RMB154.5 million within the third quarter of 2021.
Gross margin within the third quarter of 2022 was 33%, in comparison with 30% within the third quarter of 2021. Non-GAAP gross margin within the third quarter of 2022 was 34%, in comparison with 31% within the third quarter of 2021.
Operating bills had been RMB176.6 million (US$24.8 million) within the third quarter of 2022, in comparison with RMB191.3 million within the third quarter of 2021.
Research and growth bills had been RMB78.3 million (US$11.0 million) within the third quarter of 2022, representing a rise of seven% from RMB73.4 million within the third quarter of 2021. The enhance was primarily as a result of greater wage and welfare advantages bills and rental bills.
Selling and advertising bills had been RMB71.2 million (US$10.0 million) within the third quarter of 2022, in comparison with RMB88.2 million within the third quarter of 2021, primarily attributable to the lower in branding and advertising bills, partially offset by the elevated wage and welfare advantages bills. The Company will consider and modify its advertising technique and funds based mostly on the Company’s efficiency, operational wants and market situations.
General and administrative bills had been RMB27.1 million (US$3.8 million) within the third quarter of 2022, in comparison with RMB29.7 million within the third quarter of 2021, primarily pushed by a lower in share-based compensation bills and different miscellaneous bills.
Operating revenue was RMB12.5 million (US$1.8 million) within the third quarter of 2022, in comparison with an working lack of RMB40.1 million within the third quarter of 2021.
Non-GAAP working revenue4 was RMB20.2 million (US$2.8 million) within the third quarter of 2022, in comparison with non-GAAP working lack of RMB30.1 million within the third quarter of 2021.
Net revenue was RMB19.8 million (US$2.8 million) within the third quarter of 2022, in comparison with web lack of RMB37.1 million within the third quarter of 2021.
Non-GAAP web revenue was RMB27.5 million (US$3.9 million) within the third quarter of 2022, in comparison with non-GAAP web lack of RMB27.2 million within the third quarter of 2021.
Net revenue attributable to LIZHI INC.’s bizarre shareholders was RMB19.8 million (US$2.8 million) within the third quarter of 2022, in comparison with web loss attributable to LIZHI INC.’s bizarre shareholders of RMB37.1 million within the third quarter of 2021.
Non-GAAP web revenue attributable to LIZHI INC.’s bizarre shareholders5 was RMB27.5 million (US$3.9 million) within the third quarter of 2022, in comparison with non-GAAP web loss attributable to LIZHI INC.’s bizarre shareholders of RMB27.2 million within the third quarter of 2021.
Basic and diluted web revenue per ADS6 had been RMB0.38 (US$0.05) within the third quarter of 2022, in comparison with fundamental and diluted web loss per ADS of RMB0.73 within the third quarter of 2021.
Non-GAAP fundamental and diluted web revenue per ADS7 had been RMB0.53 (US$0.07) within the third quarter of 2022, in comparison with non-GAAP fundamental and diluted web lack of RMB0.54 per ADS within the third quarter of 2021.
Balance Sheets
As of September 30, 2022, the Company had money and money equivalents, short-term investments and restricted money of RMB623.1 million (US$87.6 million).
Litigation Update
On October 1, 2022, the U.S. District Court for the Eastern District of New York (the “Federal Court”) dismissed in full a putative securities class motion that had been filed towards the Company and denied the plaintiff’s request for go away to amend the criticism. The Federal Court’s dismissal follows the March 2022 dismissal of a substantively comparable putative class motion filed within the New York Supreme Court, New York County (the “State Court”). Both lawsuits had been filed in January 2021 on behalf of a putative class of purchasers of the Company’s ADSs and alleged that LIZHI’s registration assertion on Form F-1 dated January 16, 2020 contained materials misstatements and/or omissions relating to the impression of COVID-19 on the Company in violation of the U.S. Securities Act of 1933. Both the Federal Court and the State Court granted the Company’s motions to dismiss all claims, concluding that LIZHI’s registration assertion was not deceptive as a matter of regulation.
Conference Call
The Company’s administration will host an earnings convention name at 8:00 AM U.S. Eastern Time on November 16, 2022 (9:00 PM Beijing/Hong Kong Time on November 16, 2022).
For members who want to be part of the decision, please entry the hyperlink supplied beneath to finish the web registration 20 minutes previous to the scheduled name begin time. Upon registration, members will obtain particulars for the convention name, together with dial-in numbers, a private PIN and an e-mail with detailed directions to hitch the convention name.
Once full the registration, please dial-in 10 minutes earlier than the scheduled begin time of the earnings name and enter the private PIN as instructed to connect with the decision.
Additionally, a dwell webcast of the convention name and a replay of the webcast might be out there on the Company’s investor relations web site at http://ir.lizhi.fm.
About LIZHI INC.
LIZHI INC. has created a complete audio-based social ecosystem with a world presence. The Company goals to cater to customers’ pursuits in audio leisure and social networking by means of its product portfolios. LIZHI INC. envisions an audio ecosystem the place everybody will be linked and work together by means of voices. LIZHI INC. has been listed on Nasdaq since January 2020.
For extra info, please go to: http://ir.lizhi.fm.
Use of Non-GAAP Financial Measures
The unaudited condensed consolidated monetary info is ready in conformity with accounting rules usually accepted within the United States of America (“U.S. GAAP”).
LIZHI makes use of non-GAAP gross revenue, non-GAAP gross margin, non-GAAP working loss/revenue, non-GAAP web loss/revenue, non-GAAP web loss/revenue attributable to LIZHI INC.’s bizarre shareholders and non-GAAP fundamental and diluted web loss/revenue per ADS, that are non-GAAP monetary measures. Non-GAAP gross revenue is gross revenue excluding share-based compensation bills. Non-GAAP gross margin is non-GAAP gross revenue as a proportion of web revenues. Non-GAAP working loss/revenue is working loss/revenue excluding share-based compensation bills. Non-GAAP web loss/revenue is web loss/revenue, excluding share-based compensation bills. Non-GAAP web loss/revenue attributable to LIZHI INC.’s bizarre shareholders is web loss/revenue attributable to LIZHI INC.’s bizarre shareholders, excluding share-based compensation bills. Non-GAAP fundamental and diluted web loss/revenue per ADS is non-GAAP web loss/revenue attributable to LIZHI INC.’s bizarre shareholders divided by the weighted common variety of ADS used within the calculation of fundamental and diluted web loss/revenue per ADS. The Company believes that separate evaluation and exclusion of the non-cash impression of the above reconciling merchandise provides readability to the constituent components of its efficiency. The Company opinions these non-GAAP monetary measures along with GAAP monetary measures to acquire a greater understanding of its working efficiency. It makes use of the non-GAAP monetary measure for planning, forecasting and measuring outcomes towards the forecast. The Company believes that non-GAAP monetary measure is beneficial supplemental info for traders and analysts to evaluate its working efficiency with out the non-cash impact of share-based compensation bills.
However, the usage of non-GAAP monetary measures has materials limitations as an analytical instrument. One of the restrictions of utilizing non-GAAP monetary measures is that they don’t embrace all objects that impression the Company’s web revenue for the interval. In addition, as a result of non-GAAP monetary measures aren’t measured in the identical method by all corporations, they will not be akin to different equally titled measures utilized by different corporations. In gentle of the foregoing limitations, you shouldn’t think about non-GAAP monetary measures in isolation from, superior to, or as an alternative choice to the monetary measure ready in accordance with U.S. GAAP.
The presentation of those non-GAAP monetary measures shouldn’t be meant to be thought of in isolation from, or as an alternative to, the monetary info ready and offered in accordance with U.S. GAAP. For extra info on these non-GAAP monetary measures, please see the desk captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” close to the top of this launch.
Exchange Rate Information
This announcement accommodates translations of sure RMB quantities into U.S. {dollars} at a specified charge solely for the comfort of the reader. Unless in any other case famous, all translations from RMB to U.S. {dollars} and from U.S. {dollars} to RMB are made at a charge of RMB7.1135 to US$1.00, the trade charge on September 30, 2022, set forth within the H.10 statistical launch of the Federal Reserve Board. The Company makes no illustration that the RMB or U.S. {dollars} quantities referred could possibly be transformed into U.S. greenback or RMB, because the case could also be, at any specific charge or in any respect.
Safe Harbor Statement
This press launch accommodates forward-looking statements. These statements are made underneath the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that aren’t historic info, together with statements concerning the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements contain inherent dangers and uncertainties, and various components may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: LIZHI’s objectives and techniques; LIZHI’s future business growth, outcomes of operations and monetary situation; the anticipated development of the web audio market; the expectation relating to the speed at which to realize energetic customers, particularly paying customers; LIZHI’s skill to monetize the consumer base; fluctuations normally financial and business situations in China and abroad markets; the impression of the COVID-19 to LIZHI’s business operations and the economy in China and elsewhere usually; any adversarial adjustments in legal guidelines, laws, guidelines, insurance policies or pointers relevant to LIZHI; and assumptions underlying or associated to any of the foregoing. In some circumstances, forward-looking statements will be recognized by phrases or phrases equivalent to “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or different comparable expressions. Further info relating to these and different dangers, uncertainties or components is included within the Company’s filings with the Securities Exchange Commission. All info supplied on this press launch is as of the date of this press launch, and the Company doesn’t undertake any responsibility to replace such info, besides as required underneath relevant regulation.
For investor and media inquiries, please contact:
In China:
LIZHI INC.
IR Department
Tel: +86 (20) 3866-4265
E-mail: [email protected]
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: [email protected]
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]
LIZHI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All quantities in hundreds, apart from share, ADS, per share information and per ADS information)
| December 31, 2021 |
September 30, 2022 |
September 30, 2022 |
|||
| RMB | RMB | US$ | |||
| ASSETS | |||||
| Current property | |||||
| Cash and money equivalents | 533,293 | 517,470 | 72,745 | ||
| Short-term investments | – | 100,136 | 14,077 | ||
| Restricted money | 4,155 | 5,538 | 779 | ||
| Accounts receivable, web | 6,458 | 3,338 | 469 | ||
| Prepayments and different present property | 33,604 | 28,852 | 4,056 | ||
| Total present property | 577,510 | 655,334 | 92,126 | ||
| Non-current property | |||||
| Property, gear and leasehold enchancment, web | 33,391 | 30,039 | 4,223 | ||
| Intangible property, web | 2,245 | 1,349 | 190 | ||
| Right-of-use property, web | 28,941 | 26,652 | 3,747 | ||
| Other non-current property | 799 | 296 | 42 | ||
| Total non-current property | 65,376 | 58,336 | 8,202 | ||
| TOTAL ASSETS | 642,886 | 713,670 | 100,328 | ||
| LIABILITIES | |||||
| Current liabilities | |||||
| Accounts payable | 80,793 | 51,388 | 7,224 | ||
| Deferred income | 20,657 | 26,514 | 3,727 | ||
| Salary and welfare payable | 123,075 | 133,472 | 18,763 | ||
| Taxes payable | 5,564 | 5,792 | 814 | ||
| Short-term loans | 68,999 | 42,000 | 5,904 | ||
| Lease liabilities due inside one 12 months | 13,929 | 18,028 | 2,534 | ||
| Accrued bills and different present liabilities | 53,486 | 62,031 | 8,720 | ||
| Total present liabilities | 366,503 | 339,225 | 47,686 | ||
| Non-current liabilities | |||||
| Lease liabilities | 17,076 | 10,195 | 1,433 | ||
| Other non-current liabilities | 4,452 | 4,261 | 599 | ||
| Total non-current liabilities | 21,528 | 14,456 | 2,032 | ||
| TOTAL LIABILITIES | 388,031 | 353,681 | 49,718 | ||
LIZHI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All quantities in hundreds, apart from share, ADS, per share information and per ADS information)
| December 31, 2021 |
September 30, 2022 |
September 30, 2022 |
|||||||
| RMB | RMB | US$ | |||||||
| SHAREHOLDERS’ EQUITY | |||||||||
| Class A Ordinary shares (US$0.0001 par worth, 1,268,785,000 shares licensed, 798,962,260 shares issued and 782,801,250 shares excellent as of December 31, 2021; 1,268,785,000 shares licensed, 818,962,260 shares issued and 798,323,930 shares excellent as of September 30, 2022). | 530 | 543 | 76 | ||||||
| Class B Ordinary shares (US$0.0001 par worth, 231,215,000 shares licensed, issued and excellent as of December 31, 2021 and September 30, 2022, respectively). | 168 | 168 | 24 | ||||||
| Treasury inventory | (11 | ) | (14 | ) | (2 | ) | |||
| Additional paid in capital | 2,630,456 | 2,651,759 | 372,779 | ||||||
| Accumulated deficit | (2,366,531 | ) | (2,311,434 | ) | (324,935 | ) | |||
| Accumulated different complete (loss)/revenue | (9,757 | ) | 18,971 | 2,669 | |||||
| TOTAL LIZHI Inc.’s shareholders’ fairness | 254,855 | 359,993 | 50,611 | ||||||
| Non-controlling pursuits | – | (4 | ) | (1 | ) | ||||
| TOTAL SHAREHOLDERS’ EQUITY | 254,855 | 359,989 | 50,610 | ||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 642,886 | 713,670 | 100,328 | ||||||
LIZHI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(All quantities in hundreds, apart from share, ADS, per share information and per ADS information)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||
| September 30, 2021 |
June 30, 2022 |
September 30, 2022 |
September 30, 2022 |
September 30, 2021 |
September 30, 2022 |
September 30, 2022 |
|||||||||||||||
| RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||
| Net revenues | |||||||||||||||||||||
| Audio leisure revenues | 500,792 | 513,018 | 562,573 | 79,085 | 1,545,171 | 1,589,613 | 223,464 | ||||||||||||||
| Podcast, promoting and different revenues | 4,052 | 2,676 | 2,655 | 373 | 14,011 | 8,022 | 1,128 | ||||||||||||||
| Total web revenues | 504,844 | 515,694 | 565,228 | 79,458 | 1,559,182 | 1,597,635 | 224,592 | ||||||||||||||
| Cost of revenues (1) | (353,575 | ) | (340,063 | ) | (376,159 | ) | (52,880 | ) | (1,124,099 | ) | (1,064,843 | ) | (149,693 | ) | |||||||
| Gross revenue | 151,269 | 175,631 | 189,069 | 26,578 | 435,083 | 532,792 | 74,899 | ||||||||||||||
| Operating bills (1) | |||||||||||||||||||||
| Selling and advertising bills | (88,230 | ) | (60,756 | ) | (71,167 | ) | (10,004 | ) | (315,345 | ) | (191,932 | ) | (26,981 | ) | |||||||
| General and administrative bills | (29,736 | ) | (30,550 | ) | (27,093 | ) | (3,809 | ) | (72,425 | ) | (80,021 | ) | (11,249 | ) | |||||||
| Research and growth bills | (73,377 | ) | (70,262 | ) | (78,320 | ) | (11,010 | ) | (191,183 | ) | (219,676 | ) | (30,882 | ) | |||||||
| Total working bills | (191,343 | ) | (161,568 | ) | (176,580 | ) | (24,823 | ) | (578,953 | ) | (491,629 | ) | (69,112 | ) | |||||||
| Operating (loss)/revenue | (40,074 | ) | 14,063 | 12,489 | 1,755 | (143,870 | ) | 41,163 | 5,787 | ||||||||||||
| Interest (bills)/revenue, web | (393 | ) | 480 | 1,321 | 186 | (949 | ) | 1,746 | 245 | ||||||||||||
| Foreign trade losses | (279 | ) | (424 | ) | (311 | ) | (44 | ) | (427 | ) | (1,121 | ) | (158 | ) | |||||||
| Investment revenue | 8 | 146 | 409 | 57 | 468 | 649 | 91 | ||||||||||||||
| Government grants | 4,084 | 4,169 | 4,178 | 587 | 9,664 | 10,973 | 1,543 | ||||||||||||||
| Others, web | (446 | ) | 480 | 1,736 | 244 | (1,051 | ) | 1,787 | 251 | ||||||||||||
| (Loss)/revenue earlier than revenue taxes | (37,100 | ) | 18,914 | 19,822 | 2,785 | (136,165 | ) | 55,197 | 7,759 | ||||||||||||
| Income tax bills | – | (61 | ) | – | – | – | (104 | ) | (15 | ) | |||||||||||
| Net (loss)/revenue | (37,100 | ) | 18,853 | 19,822 | 2,785 | (136,165 | ) | 55,093 | 7,744 | ||||||||||||
| Net (revenue)/loss attributable to the non-controlling pursuits shareholders | – | (7 | ) | 1 | – | – | 4 | 1 | |||||||||||||
| Net (loss)/revenue attributable to LIZHI INC.’s bizarre shareholders | (37,100 | ) | 18,846 | 19,823 | 2,785 | (136,165 | ) | 55,097 | 7,745 | ||||||||||||
LIZHI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
(All quantities in hundreds, apart from share, ADS, per share information and per ADS information)
| Three Months Ended | Nine Months Ended | ||||||||||||||||
| September 30, 2021 |
June 30, 2022 |
September 30, 2022 |
September 30, 2022 |
September 30, 2021 |
September 30, 2022 |
September 30, 2022 |
|||||||||||
| RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||
| Net (loss)/revenue | (37,100 | ) | 18,853 | 19,822 | 2,785 | (136,165 | ) | 55,093 | 7,744 | ||||||||
| Other complete revenue/(loss): | |||||||||||||||||
| Foreign forex translation changes | 1,184 | 15,344 | 14,602 | 2,053 | (2,696 | ) | 28,728 | 4,039 | |||||||||
| Total complete (loss)/revenue | (35,916 | ) | 34,197 | 34,424 | 4,838 | (138,861 | ) | 83,821 | 11,783 | ||||||||
| Comprehensive (revenue)/loss attributable to non‑controlling pursuits shareholders | – | (7 | ) | 1 | – | – | 4 | 1 | |||||||||
| Comprehensive (loss)/revenue attributable to LIZHI INC.’s bizarre shareholders | (35,916 | ) | 34,190 | 34,425 | 4,838 | (138,861 | ) | 83,825 | 11,784 | ||||||||
| Net (loss)/revenue attributable to LIZHI INC.’s bizarre shareholders per share | |||||||||||||||||
| —Basic | (0.04 | ) | 0.02 | 0.02 | 0.00 | (0.14 | ) | 0.05 | 0.01 | ||||||||
| —Diluted | (0.04 | ) | 0.02 | 0.02 | 0.00 | (0.14 | ) | 0.05 | 0.01 | ||||||||
| Weighted common variety of bizarre shares | |||||||||||||||||
| —Basic | 1,014,757,633 | 1,031,036,519 | 1,040,595,117 | 1,040,595,117 | 981,348,659 | 1,031,562,237 | 1,031,562,237 | ||||||||||
| —Diluted | 1,014,757,633 | 1,035,130,441 | 1,045,863,031 | 1,045,863,031 | 981,348,659 | 1,035,643,138 | 1,035,643,138 | ||||||||||
| Net (loss)/revenue attributable to LIZHI INC.’s bizarre shareholders per ADS | |||||||||||||||||
| —Basic | (0.73 | ) | 0.37 | 0.38 | 0.05 | (2.78 | ) | 1.07 | 0.15 | ||||||||
| —Diluted | (0.73 | ) | 0.36 | 0.38 | 0.05 | (2.78 | ) | 1.06 | 0.15 | ||||||||
| Weighted common variety of ADS | |||||||||||||||||
| —Basic | 50,737,882 | 51,551,826 | 52,029,756 | 52,029,756 | 49,067,433 | 51,578,112 | 51,578,112 | ||||||||||
| —Diluted | 50,737,882 | 51,756,522 | 52,293,152 | 52,293,152 | 49,067,433 | 51,782,157 | 51,782,157 | ||||||||||
LIZHI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
(All quantities in hundreds, apart from share, ADS, per share information and per ADS information)
(1) Share-based compensation was allotted in price of revenues and working bills as follows:
| Three Months Ended | Nine Months Ended | |||||||||||||
| September 30, 2021 |
June 30, 2022 |
September 30, 2022 |
September 30, 2022 |
September 30, 2021 |
September 30, 2022 |
September 30, 2022 |
||||||||
| RMB | RMB | RMB | US$ | RMB | RMB | US$ | ||||||||
| Cost of revenues | 3,183 | 1,211 | 1,728 | 243 | 8,965 | 5,545 | 780 | |||||||
| Selling and advertising bills | 1,084 | 267 | 455 | 64 | 2,392 | 1,729 | 243 | |||||||
| General and administrative bills | 2,968 | 2,644 | 2,157 | 303 | 9,617 | 7,590 | 1,067 | |||||||
| Research and growth bills | 2,708 | 2,993 | 3,359 | 472 | 7,050 | 8,713 | 1,225 | |||||||
LIZHI INC.
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(All quantities in hundreds, apart from share, ADS, per share information and per ADS information)
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, 2021 |
June 30, 2022 |
September 30, 2022 |
September 30, 2022 |
September 30, 2021 |
September 30, 2022 |
September 30, 2022 |
||||||||||
| RMB | RMB | RMB | US$ | RMB | RMB | US$ | ||||||||||
| Gross revenue | 151,269 | 175,631 | 189,069 | 26,578 | 435,083 | 532,792 | 74,899 | |||||||||
| Share-based compensation bills | 3,183 | 1,211 | 1,728 | 243 | 8,965 | 5,545 | 780 | |||||||||
| Non-GAAP gross revenue | 154,452 | 176,842 | 190,797 | 26,821 | 444,048 | 538,337 | 75,679 | |||||||||
| Operating (loss)/revenue | (40,074 | ) | 14,063 | 12,489 | 1,755 | (143,870 | ) | 41,163 | 5,787 | |||||||
| Share-based compensation bills | 9,943 | 7,115 | 7,699 | 1,082 | 28,024 | 23,577 | 3,315 | |||||||||
| Non-GAAP working (loss)/revenue | (30,131 | ) | 21,178 | 20,188 | 2,837 | (115,846 | ) | 64,740 | 9,102 | |||||||
| Net (loss)/revenue | (37,100 | ) | 18,853 | 19,822 | 2,785 | (136,165 | ) | 55,093 | 7,744 | |||||||
| Share-based compensation bills | 9,943 | 7,115 | 7,699 | 1,082 | 28,024 | 23,577 | 3,315 | |||||||||
| Non-GAAP web (loss)/revenue | (27,157 | ) | 25,968 | 27,521 | 3,867 | (108,141 | ) | 78,670 | 11,059 | |||||||
| Net (loss)/revenue attributable to LIZHI INC.’s bizarre shareholders | (37,100 | ) | 18,846 | 19,823 | 2,785 | (136,165 | ) | 55,097 | 7,745 | |||||||
| Share-based compensation bills | 9,943 | 7,115 | 7,699 | 1,082 | 28,024 | 23,577 | 3,315 | |||||||||
| Non-GAAP web (loss)/revenue attributable to LIZHI INC.’s bizarre shareholders | (27,157 | ) | 25,961 | 27,522 | 3,867 | (108,141 | ) | 78,674 | 11,060 | |||||||
| Non-GAAP net (loss)/revenue attributable to LIZHI INC.’s bizarre shareholders per share | ||||||||||||||||
| —Basic | (0.03 | ) | 0.03 | 0.03 | 0.00 | (0.11 | ) | 0.08 | 0.01 | |||||||
| —Diluted | (0.03 | ) | 0.03 | 0.03 | 0.00 | (0.11 | ) | 0.08 | 0.01 | |||||||
| Weighted common variety of bizarre shares | ||||||||||||||||
| —Basic | 1,014,757,633 | 1,031,036,519 | 1,040,595,117 | 1,040,595,117 | 981,348,659 | 1,031,562,237 | 1,031,562,237 | |||||||||
| —Diluted | 1,014,757,633 | 1,035,130,441 | 1,045,863,031 | 1,045,863,031 | 981,348,659 | 1,035,643,138 | 1,035,643,138 | |||||||||
| Non-GAAP net (loss)/revenue attributable to LIZHI INC.’s bizarre shareholders per ADS | ||||||||||||||||
| —Basic | (0.54 | ) | 0.50 | 0.53 | 0.07 | (2.20 | ) | 1.53 | 0.21 | |||||||
| —Diluted | (0.54 | ) | 0.50 | 0.53 | 0.07 | (2.20 | ) | 1.52 | 0.21 | |||||||
| Weighted common variety of ADS | ||||||||||||||||
| —Basic | 50,737,882 | 51,551,826 | 52,029,756 | 52,029,756 | 49,067,433 | 51,578,112 | 51,578,112 | |||||||||
| —Diluted | 50,737,882 | 51,756,522 | 52,293,152 | 52,293,152 | 49,067,433 | 51,782,157 | 51,782,157 | |||||||||
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1 Refers to the common month-to-month variety of energetic customers throughout our platforms and Apps in a given interval, calculated by dividing (i) the sum of cellular energetic customers for every month of such interval, by (ii) the variety of months in the identical interval.
2 Refers to the common month-to-month variety of paying customers in a given interval, calculated by dividing (i) the overall variety of paying customers in every month of such interval by (ii) the variety of months in the identical interval.
3 Non-GAAP gross revenue is a non-GAAP monetary measure, which is outlined as gross revenue excluding share-based compensation bills. This adjustment amounted to RMB1.7 million (US$0.2 million) within the third quarter of 2022. Please discuss with the part beneath titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for particulars.
4 Non-GAAP working revenue is a non-GAAP monetary measure, which is outlined as working revenue excluding share-based compensation bills. This adjustment amounted to RMB7.7 million (US$1.1 million) within the third quarter of 2022. Please discuss with the part beneath titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for particulars.
5 Non-GAAP web revenue attributable to LIZHI INC.’s bizarre shareholders is a non-GAAP monetary measure, which is outlined as web revenue attributable to LIZHI INC.’s bizarre shareholders excluding share-based compensation bills. These changes amounted to RMB7.7 million (US$1.1 million) and RMB9.9 million within the third quarter of 2022 and 2021, respectively. Please discuss with the part beneath titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for particulars.
6 ADS refers to American Depositary Share. Each ADS represents twenty Class A bizarre shares of the Company. Basic and diluted web revenue per ADS is web revenue attributable to LIZHI INC.’s bizarre shareholders divided by weighted common variety of ADS.
7 Non-GAAP fundamental and diluted web revenue per ADS is a non-GAAP monetary measure, which is outlined as non-GAAP web revenue attributable to LIZHI INC.’s bizarre shareholders divided by weighted common variety of ADS used within the calculation of fundamental and diluted web revenue per ADS.
