BEIJING, Aug. 27, 2021 (GLOBE NEWSWIRE) -- KANZHUN LIMITED (“BOSS Zhipin” or “the Company”) (Nasdaq: BZ), a leading online recruitment platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2021.
Second Quarter 2021 Highlights
• Total revenues for the quarter were RMB1,168.2 million (US$180.9 million), an increase of 173.9% from RMB426.5 million for the same quarter of 2020.
• Calculated cash billings1 were RMB1,444.5 million (US$223.7 million), an increase of 175.3% from RMB524.7 million for the same quarter of 2020.
• Average monthly active users (MAUs)2 for the quarter were 30.4 million, an increase of 44.8% from 21.0 million for the same quarter of 2020.
• Total paid enterprise customers3 in the twelve months ended June 30, 2021 increased by 135.9% to 3.61 million, from 1.53 million in the twelve months ended June 30, 2020.
• Net loss for the quarter was RMB1,414.1 million (US$219.0 million), compared to RMB167.4 million for the same quarter of 2020 and RMB176.2 million for the first quarter of 2021. The increase of net loss was mainly due to one-time share-based compensation expenses recorded in the quarter. Adjusted net income4 for the quarter turned positive to RMB246.5 million (US$38.2 million), compared to adjusted net loss of RMB143.4 million for the same quarter last year and adjusted net loss of RMB127.5 million for the first quarter of 2021.
“We are pleased to report strong results for our first quarter as a public company, with robust and quality growth demonstrating our effective ‘direct-recruitment’ model.” Mr. Jonathan Peng Zhao, Founder, Chairman and Chief Executive Officer of the Company, commented, “The successful completion of initial public offering in June is just the start of a long journey, and we treasure this opportunity to shoulder greater responsibility of delivering equal and efficient services to more job seekers and enterprise users. With user satisfaction and platform security as our top priorities, we strive to fulfill our mission of improving the efficiency of connecting talents and jobs through the power of technology.”
Mr. Phil Yu Zhang, Chief Financial Officer, further commented, “Our total revenues increased by 173.9% year on year in this quarter to RMB1,168.2 million. We remain focusing on our users and revenue growth while also improving the operating efficiency through greater leverage and effective marketing initiatives. With our strong cash flow, we are committed to making further investment in R&D, and continuing to increase brand recognition and user coverage for our long-term sustainable growth.”
Second Quarter 2021 Unaudited Financial Results
Revenues
Revenues were RMB1,168.2 million (US$180.9 million) in the second quarter of 2021, an increase of 173.9% from RMB426.5 million for the same period in 2020. The increase was primarily due to the growth of revenues from our online recruitment services.
• Revenues from online recruitment services were RMB1,157.8 million (US$179.3 million) in the second quarter of 2021, representing an increase of 174.7% from RMB421.5 million for the same period in 2020. The increase was mainly due to rapid growth in our paid enterprise customer numbers following the expansion of our user base and continued investment in enhancing our service capabilities. Total paid enterprise customers increased by 135.9% from 1.53 million in the twelve months ended June 30, 2020 to 3.61 million in the twelve months ended June 30, 2021. Revenue from key accounts5 performed particularly well at RMB208.3 million (US$32.3 million) in the second quarter of 2021, representing an increase of 229.1% from RMB63.3 million in the same period of 2020. Total number of key accounts increased by 146.6% from 1,272 in the twelve months ended June 30, 2020 to 3,137 in the twelve months ended June 30, 2021.
• Revenues from other services, which mainly comprise of paid value-added services offered to job seekers, were RMB10.4 million (US$1.6 million) in the second quarter of 2021, representing an increase of 108.0% from RMB5.0 million for the same period in 2020, benefiting from our continued overall growth in user base.
Total operating cost and expenses
Total operating cost and expenses were RMB2,594.3 million (US$401.8 million) in the second quarter of 2021, representing an increase of 335.1% from RMB596.3 million in the same period of 2020. Total share-based compensation expenses were RMB1,660.6 million (US$257.2 million) in the second quarter of 2021, compared with RMB24.0 million in the same period of 2020.
• Cost of revenues were RMB143.2 million (US$22.2 million) in the second quarter of 2021, representing an increase of 164.2% from RMB54.2 million in the same period of 2020, primarily driven by third-party payment processing costs, payroll and other employee-related costs, and server and bandwidth costs, resulting from expanded user base and increased transaction volume.
• Sales and marketing expenses were RMB534.2 million (US$82.7 million) in the second quarter of 2021, representing an increase of 45.8% from RMB366.4 million in the same period of 2020, primarily due to (i) increased sales and marketing employee-related expenses; and (ii) enhanced brand advertising and customer acquisition activities.
• Research and development expenses were RMB250.0 million (US$38.7 million) in the second quarter of 2021, representing an increase of 113.7% from RMB117.0 million in the same period of 2020, primarily due to increased headcount for experienced research and development staff as well as increased share-based compensation expenses.
• General and administrative expenses were RMB1,666.9 million (US$258.2 million) in the second quarter of 2021, compared with RMB58.6 million in the same period of 2020, mainly resulting from the one-time issuance of Class B ordinary shares to TECHWOLF LIMITED, which led to an increase of RMB1,506.4 million (US$233.3 million) in share-based compensation expenses.
Loss from operations
Loss from operations was RMB1,420.8 million (US$220.0 million) in the second quarter of 2021, compared to RMB167.5 million in the same period of 2020.
Net loss and adjusted net income (loss)
Net loss was RMB1,414.1 million (US$219.0 million) in the second quarter of 2021, compared to net loss of RMB167.4 million in the same period of 2020.
Adjusted net income was RMB246.5 million (US$38.2 million) in the second quarter of 2021, compared to adjusted net loss of RMB143.4 million in the same quarter of 2020.
Basic and diluted net loss per ADS and adjusted basic and diluted net income (loss) per ADS
Basic and diluted net loss per ADS attributable to ordinary shareholders were both RMB18.79 (US$2.91) in the second quarter of 2021, compared to net loss per ADS of RMB4.34 in the same period of 2020.
Adjusted basic and diluted net income per ADS attributable to ordinary shareholders4 were RMB2.21 (US$0.34) and RMB1.32 (US$0.20) respectively in the second quarter of 2021, compared to adjusted basic and diluted net loss per ADS of RMB3.89 in the same period of 2020.
Net cash flow generated from (used in) operating activities
Net cash generated from operating activities was RMB671.2 million (US$104.0 million) in the second quarter of 2021, compared to net cash used in operating activities of RMB14.2 million in the same period of 2020.
Cash position
Balance of cash and cash equivalents and short-term investments was RMB11,708.7 million (US$1,813.4 million) as of June 30, 2021, compared to RMB4,534.6 million as of December 31, 2020. The increase was primarily attributable to the net proceeds from the initial public offering completed in June 2021.
Recent Development
On June 11, 2021, the Company completed its initial public offering, through which the Company sold a total of 48,000,000 ADSs, with each ADS representing two Class A ordinary shares, at a price of US$19.00 per ADS. On June 15, 2021, the underwriters exercised their over-allotment option to purchase an additional 7,200,000 ADSs, at a price of US$19.00 per ADS. Upon the closing of the over-allotment transaction, the Company had a total of 677,127,602 Class A ordinary shares and 140,830,041 Class B ordinary shares issued and outstanding.
As stated in the press release announced on July 5, 2021, the Company is subject to cybersecurity review by the Cyberspace Administration of China. To facilitate the process, during the review period, the “BOSS Zhipin” app has been required to suspend new user registration in China. The process is still ongoing and the Company is fully cooperating with the regulator in respect of its review.
Outlook
For the third quarter of 2021, the Company currently expects its total revenues to be between RMB1.18 billion and RMB1.21 billion, representing a year-on-year increase of 100.0% to 105.1%. This forecast reflects the Company’s current views on the market, operational conditions and the impact of the on-going cybersecurity review, which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof.
____________________________________
1 Calculated cash billings is a non-GAAP financial measure, derived by adding the change in deferred revenue to revenues. For more information on the non-GAAP financial measures, please see the section of “Use of Non-GAAP Financial Measures”.
2 MAUs refer to the number of verified user accounts, including both job seekers and enterprise users, that logged on to our mobile applications in a given month at least once.
3 Paid enterprise customers are defined as enterprise users and company accounts from which we recognize revenues for our online recruitment services.
4 Adjusted net income (loss) and adjusted basic and diluted net income (loss) per ADS attributable to ordinary shareholders are non-GAAP financial measures, excluding the impact of share-based compensation expenses. For more information on the non-GAAP financial measures, please see the section of “Use of Non-GAAP Financial Measures”.
5 Key accounts are defined as paid enterprise customers who contributed RMB50,000 or more in the respectively proceeding twelve-month period.
Conference Call Information
The Company will host a conference call at 8:00 AM U.S. Eastern Time on Friday, August 27, 2021 (8:00 PM Beijing/Hong Kong Time on Friday, August 27, 2021) to discuss the financial results. Details for the conference call are as follows:
| Event Title: | KANZHUN LIMITED Second Quarter 2021 Earnings Conference Call | |
| Conference ID: | 6665641 | |
| Registration Link: | http://apac.directeventreg.com/registration/event/6665641 |
Upon registration, participants will receive an email containing conference call dial-in details, a passcode, and a unique registrant ID. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.zhipin.com.
A replay of the conference call will be accessible approximately two hours after the conclusion of the live call and will be available until September 3, 2021, via the following details:
| International: | +61-2-8199-0299 | |
| China (Mandarin) Toll Free: | 800-870-0206 | |
| China Toll Free: | 400-632-2162 | |
| United States Toll Free: | +1-855-452-5696 | |
| Hong Kong Toll Free: | 800-963-117 | |
| Singapore Toll Free: | 800-616-2305 | |
| Conference ID: | 6665641 |
Exchange Rate
This announcement contains translation of certain RMB amounts into U.S. dollar amounts at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to U.S. dollar were made at the rate of RMB6.4566 to US$1.00, the noon buying rate on June 30, 2021 of RMB as set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referred could be converted into U.S. dollar or RMB, as the case may be, at any particular rate or at all.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses non-GAAP measures, such as calculated cash billings, adjusted net income (loss), adjusted net income (loss) attributable to ordinary shareholders, adjusted basic and diluted net income (loss) per share attributable to ordinary shareholders and adjusted basic and diluted net income (loss) per ADS attributable to ordinary shareholders as supplemental measures to review and assess operating performance. The Company derives calculated cash billings by adding the change in deferred revenue to revenues. The Company uses calculated cash billings to measure and monitor sales growth because the Company generally bills its paid enterprise customers at the time of sales, but may recognize a portion of the related revenue ratably over time. The Company believes calculated cash billings provide valuable insights into the cash that will be generated from sales and is a valuable measure for monitoring service demand and financial performance. The Company defines adjusted net income (loss) and adjusted net income (loss) attributable to ordinary shareholders by excluding the impact of share-based compensation expenses, which are non-cash expenses, from the related GAAP measures. The Company believes that these non-GAAP measures help identify underlying trends in the business that could otherwise be distorted by the effect of certain expenses that are included in net loss and facilitate investors’ assessment of the Company’s operating performance.
The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The presentation of non-GAAP financial measures should not be considered in isolation from, or as a substitute for most directly comparable financial measures prepared in accordance with GAAP. The non-GAAP measures have material limitations as an analytical metric and may not be calculated in the same manner by all companies, and may not be comparable to other similarly titled measures used by other companies. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
A reconciliation of the historical non-GAAP financial measures to the most directly comparable GAAP measures has been provided in the financial statement tables captioned “Unaudited Reconciliation of GAAP and Non-GAAP results” at the end of this press release.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
About KANZHUN LIMITED
KANZHUN LIMITED (Nasdaq: BZ) operates the largest online recruitment platform BOSS Zhipin in China in terms of average MAU in 2020. Established seven years ago, the Company connects job seekers and enterprise users in an efficient and seamless manner through its highly interactive mobile app, a transformative product that promotes two-way communication, focuses on intelligent recommendations, and creates new scenarios in the online recruiting process. Benefiting from its large and diverse user base, BOSS Zhipin has developed powerful network effects to deliver higher recruitment efficiency and drive rapid expansion.
For more information, please visit https://ir.zhipin.com.
For investor and media inquiries, please contact:
KANZHUN LIMITED
Investor Relations
Email: ir@kanzhun.com
THE PIACENTE GROUP, INC.
Email: kanzhun@tpg-ir.com
KANZHUN LIMITED
UNAUDITED INTERIEM CONDENSED CONSOLIDATED
STATEMENTS OF COMPRHENSIVE LOSS
(All amounts in thousands, except for share and per share data, unless otherwise noted)
| For the three months ended June 30, | For the six months ended June 30, | ||||||||||||||||||||||
| 2020 | 2021 | 2020 | 2021 | ||||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | ||||||||||||||||||
| Revenues | |||||||||||||||||||||||
| Online recruitment services to enterprise customers | 421,475 | 1,157,763 | 179,315 | 700,585 | 1,939,919 | 300,455 | |||||||||||||||||
| Other services | 5,008 | 10,419 | 1,614 | 8,509 | 16,798 | 2,602 | |||||||||||||||||
| Total Revenues | 426,483 | 1,168,182 | 180,929 | 709,094 | 1,956,717 | 303,057 | |||||||||||||||||
| Operating cost and expenses | |||||||||||||||||||||||
| Cost of revenues(1) | (54,221 | ) | (143,173 | ) | (22,175 | ) | (92,072 | ) | (250,029 | ) | (38,725 | ) | |||||||||||
| Sales and marketing expenses(1) | (366,396 | ) | (534,243 | ) | (82,744 | ) | (742,918 | ) | (1,152,780 | ) | (178,543 | ) | |||||||||||
| Research and development expenses(1) | (117,014 | ) | (249,961 | ) | (38,714 | ) | (221,815 | ) | (413,728 | ) | (64,078 | ) | |||||||||||
| General and administrative expenses(1) | (58,640 | ) | (1,666,900 | ) | (258,170 | ) | (104,291 | ) | (1,748,612 | ) | (270,826 | ) | |||||||||||
| Total operating cost and expenses | (596,271 | ) | (2,594,277 | ) | (401,803 | ) | (1,161,096 | ) | (3,565,149 | ) | (552,172 | ) | |||||||||||
| Other operating income, net | 2,332 | 5,339 | 827 | 3,695 | 7,657 | 1,186 | |||||||||||||||||
| Loss from operations | (167,456 | ) | (1,420,756 | ) | (220,047 | ) | (448,307 | ) | (1,600,775 | ) | (247,929 | ) | |||||||||||
| Financial income, net | 111 | 2,056 | 318 | 462 | 4,017 | 622 | |||||||||||||||||
| Foreign exchange loss | (2 | ) | (1,050 | ) | (163 | ) | (1,123 | ) | (586 | ) | (91 | ) | |||||||||||
| Investment income | 148 | 5,818 | 901 | 5,587 | 8,629 | 1,336 | |||||||||||||||||
| Other expenses | (184 | ) | (201 | ) | (31 | ) | (2,834 | ) | (1,597 | ) | (247 | ) | |||||||||||
| Loss before income tax expense | (167,383 | ) | (1,414,133 | ) | (219,022 | ) | (446,215 | ) | (1,590,312 | ) | (246,309 | ) | |||||||||||
| Income tax expense | - | - | - | - | - | - | |||||||||||||||||
| Net loss | (167,383 | ) | (1,414,133 | ) | (219,022 | ) | (446,215 | ) | (1,590,312 | ) | (246,309 | ) | |||||||||||
| Accretion on convertible redeemable preferred shares to redemption value | (65,221 | ) | (71,802 | ) | (11,121 | ) | (130,015 | ) | (164,065 | ) | (25,410 | ) | |||||||||||
| Net loss attributable to ordinary shareholders | (232,604 | ) | (1,485,935 | ) | (230,143 | ) | (576,230 | ) | (1,754,377 | ) | (271,719 | ) | |||||||||||
| Net loss | (167,383 | ) | (1,414,133 | ) | (219,022 | ) | (446,215 | ) | (1,590,312 | ) | (246,309 | ) | |||||||||||
| Other comprehensive income | |||||||||||||||||||||||
| Foreign currency translation adjustment | (1,573 | ) | (18,084 | ) | (2,801 | ) | 28,491 | 7,884 | 1,221 | ||||||||||||||
| Total comprehensive loss | (168,956 | ) | (1,432,217 | ) | (221,823 | ) | (417,724 | ) | (1,582,428 | ) | (245,088 | ) | |||||||||||
| Weighted average number of ordinary shares used in computing net loss per share, basic and diluted | 107,305,026 | 158,122,725 | 158,122,725 | 107,305,026 | 147,308,942 | 147,308,942 | |||||||||||||||||
| Net loss per share attributable to ordinary shareholders | |||||||||||||||||||||||
| —Basic and diluted | (2.17 | ) | (9.40 | ) | (1.46 | ) | (5.37 | ) | (11.91 | ) | (1.84 | ) | |||||||||||
| Net loss per ADS* attributable to ordinary shareholders | |||||||||||||||||||||||
| —Basic and diluted | (4.34 | ) | (18.79 | ) | (2.91 | ) | (10.74 | ) | (23.82 | ) | (3.69 | ) | |||||||||||
* Each ADS represents two Class A ordinary shares
(1) Includes share-based compensation expenses as follows:
| For the three months ended June 30, | For the six months ended June 30, | |||||||||||||||||||||||
| 2020 | 2021 | 2020 | 2021 | |||||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
| Cost of revenues | 375 | 9,652 | 1,495 | 632 | 13,137 | 2,035 | ||||||||||||||||||
| Sales and marketing expenses | 6,331 | 24,976 | 3,868 | 10,888 | 26,922 | 4,170 | ||||||||||||||||||
| Research and development expenses | 7,968 | 42,061 | 6,514 | 12,940 | 58,633 | 9,081 | ||||||||||||||||||
| General and administrative expenses | 9,303 | 1,583,904 | 245,315 | 15,788 | 1,610,559 | 249,444 | ||||||||||||||||||
| 23,977 | 1,660,593 | 257,192 | 40,248 | 1,709,251 | 264,730 | |||||||||||||||||||
KANZHUN LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except for share and per share data, unless otherwise noted)
| As of | ||||||||||||
| December 31, 2020 | June 30, 2021 | |||||||||||
| RMB | RMB | US$ | ||||||||||
| ASSETS | ||||||||||||
| Current assets | ||||||||||||
| Cash and cash equivalents | 3,998,203 | 11,088,959 | 1,717,461 | |||||||||
| Short-term investments | 536,401 | 619,695 | 95,979 | |||||||||
| Accounts receivable | 6,999 | 2,595 | 402 | |||||||||
| Amounts due from related parties | 40,799 | 9,081 | 1,406 | |||||||||
| Prepayments and other current assets | 164,910 | 263,352 | 40,788 | |||||||||
| Total current assets | 4,747,312 | 11,983,682 | 1,856,036 | |||||||||
| Non-current assets | ||||||||||||
| Property, equipment and software, net | 191,355 | 235,689 | 36,504 | |||||||||
| Intangible assets, net | 549 | 504 | 78 | |||||||||
| Right-of-use assets, net | 144,063 | 185,413 | 28,717 | |||||||||
| Other non-current assets | - | 4,000 | 620 | |||||||||
| Total non-current assets | 335,967 | 425,606 | 65,919 | |||||||||
| Total assets | 5,083,279 | 12,409,288 | 1,921,955 | |||||||||
| LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ (DEFICIT)/EQUITY | ||||||||||||
| Current liabilities | ||||||||||||
| Accounts payable | 41,856 | 102,041 | 15,804 | |||||||||
| Deferred revenue | 1,200,349 | 1,870,478 | 289,700 | |||||||||
| Other payable and accrued liabilities | 418,259 | 372,999 | 57,770 | |||||||||
| Operating lease liabilities, current | 59,559 | 83,579 | 12,945 | |||||||||
| Total current liabilities | 1,720,023 | 2,429,097 | 376,219 | |||||||||
| Non-current liabilities | ||||||||||||
| Operating lease liabilities, non-current | 76,373 | 98,281 | 15,222 | |||||||||
| Total non-current liabilities | 76,373 | 98,281 | 15,222 | |||||||||
| Total liabilities | 1,796,396 | 2,527,378 | 391,441 | |||||||||
| Mezzanine equity | 5,587,000 | - | - | |||||||||
| Shareholders’ (deficit)/equity | ||||||||||||
| Ordinary shares | 81 | 521 | 81 | |||||||||
| Treasury shares (3,657,853 shares as of December 31, 2020 and nil as of June 30, 2021, respectively) | - | - | - | |||||||||
| Additional paid-in capital | 452,234 | 14,216,249 | 2,201,817 | |||||||||
| Accumulated other comprehensive loss | (130,387 | ) | (122,503 | ) | (18,973 | ) | ||||||
| Accumulated deficit | (2,622,045 | ) | (4,212,357 | ) | (652,411 | ) | ||||||
| Total shareholders’ (deficit)/equity | (2,300,117 | ) | 9,881,910 | 1,530,514 | ||||||||
| Total liabilities, mezzanine equity and shareholders’ (deficit)/equity | 5,083,279 | 12,409,288 | 1,921,955 | |||||||||
KANZHUN LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(All amounts in thousands, except for share and per share data, unless otherwise noted)
| For the three months ended June 30, | For the six months ended June 30, | ||||||||||||||||||||||
| 2020 | 2021 | 2020 | 2021 | ||||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | ||||||||||||||||||
| Net cash (used in)/generated from operating activities | (14,242 | ) | 671,208 | 103,957 | (293,584 | ) | 836,543 | 129,564 | |||||||||||||||
| Net cash (used in)/generated from investing activities | (12,281 | ) | (90,867 | ) | (14,074 | ) | 1,058,089 | (167,365 | ) | (25,922 | ) | ||||||||||||
| Net cash generated from financing activities | - | 6,424,406 | 995,014 | 1,048,706 | 6,412,214 | 993,125 | |||||||||||||||||
| Effect of exchange rate changes on cash and cash equivalents | (1,572 | ) | (17,068 | ) | (2,643 | ) | 27,505 | 9,364 | 1,450 | ||||||||||||||
| Net (decrease)/increase in cash and cash equivalents | (28,095 | ) | 6,987,679 | 1,082,254 | 1,840,716 | 7,090,756 | 1,098,217 | ||||||||||||||||
| Cash and cash equivalents at beginning of the period | 2,276,166 | 4,101,280 | 635,207 | 407,355 | 3,998,203 | 619,244 | |||||||||||||||||
| Cash and cash equivalents at end of the period | 2,248,071 | 11,088,959 | 1,717,461 | 2,248,071 | 11,088,959 | 1,717,461 | |||||||||||||||||
KANZHUN LIMITED
UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS
(All amounts in thousands, except for share and per share data, unless otherwise noted)
| For the three months ended June 30, | For the six months ended June 30, | |||||||||||||||||||||||
| 2020 | 2021 | 2020 | 2021 | |||||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
| Revenues | 426,483 | 1,168,182 | 180,929 | 709,094 | 1,956,717 | 303,057 | ||||||||||||||||||
| Add: Change in deferred revenue | 98,180 | 276,306 | 42,794 | 125,911 | 670,129 | 103,790 | ||||||||||||||||||
| Calculated cash billings | 524,663 | 1,444,488 | 223,723 | 835,005 | 2,626,846 | 406,847 | ||||||||||||||||||
| Net loss | (167,383 | ) | (1,414,133 | ) | (219,022 | ) | (446,215 | ) | (1,590,312 | ) | (246,309 | ) | ||||||||||||
| Add: Share-based compensation expenses | 23,977 | 1,660,593 | 257,192 | 40,248 | 1,709,251 | 264,730 | ||||||||||||||||||
| Adjusted net (loss)/income | (143,406 | ) | 246,460 | 38,170 | (405,967 | ) | 118,939 | 18,421 | ||||||||||||||||
| Net loss attributable to ordinary shareholders | (232,604 | ) | (1,485,935 | ) | (230,143 | ) | (576,230 | ) | (1,754,377 | ) | (271,719 | ) | ||||||||||||
| Add: Share-based compensation expenses | 23,977 | 1,660,593 | 257,192 | 40,248 | 1,709,251 | 264,730 | ||||||||||||||||||
| Adjusted net (loss)/income attributable to ordinary shareholders | (208,627 | ) | 174,658 | 27,049 | (535,982 | ) | (45,126 | ) | (6,989 | ) | ||||||||||||||
| Weighted average number of ordinary shares used in computing adjusted net (loss)/income per share | ||||||||||||||||||||||||
| —Basic | 107,305,026 | 158,122,725 | 158,122,725 | 107,305,026 | 147,308,942 | 147,308,942 | ||||||||||||||||||
| —Diluted | 107,305,026 | 264,847,465 | 264,847,465 | 107,305,026 | 147,308,942 | 147,308,942 | ||||||||||||||||||
| Adjusted net (loss)/income per ordinary share | ||||||||||||||||||||||||
| —Basic | (1.94 | ) | 1.10 | 0.17 | (4.99 | ) | (0.31 | ) | (0.05 | ) | ||||||||||||||
| —Diluted | (1.94 | ) | 0.66 | 0.10 | (4.99 | ) | (0.31 | ) | (0.05 | ) | ||||||||||||||
| Adjusted net (loss)/income per ADS | ||||||||||||||||||||||||
| —Basic | (3.89 | ) | 2.21 | 0.34 | (9.99 | ) | (0.61 | ) | (0.09 | ) | ||||||||||||||
| —Diluted | (3.89 | ) | 1.32 | 0.20 | (9.99 | ) | (0.61 | ) | (0.09 | ) | ||||||||||||||
