Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of November 2024

 

 

 

Commission File Number: 001-38587

 

 

 

Aurora Mobile Limited

 

31/F, Block 12-A, Shenzhen Bay Science and Technology Ecological Park,

Nanshan District, Shenzhen, Guangdong 518057

People’s Republic of China
(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F   x         Form 40-F   ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

 

 

 

 

 

 

EXHIBIT INDEX

 

Exhibit No.		Description
99.1		Press Release

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	AURORA MOBILE LIMITED
	By	:	/s/ Shan-Nen Bong
	Name	:	Shan-Nen Bong
	Title	:	Chief Financial Officer

 

Date: November 15, 2024

 

 

 

 

Exhibit 99.1

 

Aurora Mobile Limited Announces Third Quarter 2024

 

Unaudited Financial Results

 

SHENZHEN, CHINA, November 14, 2024 – Aurora Mobile Limited (“Aurora Mobile” or the “Company”) (NASDAQ: JG), a leading provider of customer engagement and marketing technology services in China, today announced its unaudited financial results for the third quarter ended September 30, 2024.

 

Third Quarter 2024 Financial Highlights

 

·

Revenues were RMB79.1 million (US$11.3 million), an increase of 7% year-over-year.

 

·

Cost of revenues was RMB25.8 million (US$3.7 million), an increase of 19% year-over-year.

 

·

Gross profit was RMB53.2 million (US$7.6 million), an increase of 2% year-over-year.

 

·

Total operating expenses were RMB57.1 million (US$8.1 million), a decrease of 5% year-over-year.

 

·

Net loss was RMB2.2 million (US$0.3 million), compared with a net loss of RMB7.0 million for the same quarter last year.

 

·

Net loss attributable to Aurora Mobile Limited’s shareholders was RMB2.6 million (US$0.4 million), compared with a net loss attributable to Aurora Mobile Limited’s shareholders of RMB6.8 million for the same quarter last year.

 

·

Adjusted net loss (non-GAAP) was RMB0.9 million (US$0.1 million), compared with a RMB2.1 million adjusted net income for the same quarter last year.

 

·

Adjusted EBITDA (non-GAAP) was RMB0.6 million (US$82 thousand), compared with RMB4.5 million for the same quarter last year.

 

Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, “This quarter has been remarkable from financial results perspective. There were a few record-breaking events that we have achieved. The snapshots for this quarter are as follows:

 

·

Firstly, we are writing our own history! In this quarter, we recorded the 5th consecutive quarterly positive Adjusted EBITDA.

 

·

Secondly, Developer Subscription revenue recorded both 7% growth quarter-over-quarter and 11% growth year-over-year. More importantly, the quarterly revenue has exceeded RMB50 million for the first time in history. Yet another record-breaking event in this quarter!

 

·

Thirdly, we recorded net operating cash inflow of RMB12.3 million. This is the highest level for the past 16 quarters.

 

·

Fourthly, our EngageLab business continues to grow significantly in terms of both customer numbers (grew 32% quarter-over-quarter) and cumulative signed contract value (grew 23% quarter-over-quarter).

 

Our Subscription Services revenues of RMB51.7 million grew strongly by 11% year-over-year and by 7% quarter-over-quarter. The year-over-year and quarter-over-quarter revenue growth was mainly driven by increase in ARPU. Another major contributor of this impressive revenue growth was the solid performance of our EngageLab business. The EngageLab business has contributed strong revenue growth in this quarter. On year-over-year basis, the recognized revenue for EngageLab has grown close to 100%.”

 

1 

 

 

Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, “We have been diligent in growing and managing our business. We keep our operating expenses to an optimal level to support business growth and expansion. Our gross profit in this quarter recorded good growth, both year-over-year and quarter-over-quarter, where gross profit grew every quarter to new heights from Q1 to Q3 in 2024. Last, but not least, our net loss narrowed by 69% on a year-over-year basis.”

 

Third Quarter 2024 Financial Results

 

Revenues were RMB79.1 million (US$11.3 million), an increase of 7% from RMB74.1 million in the same quarter of last year, mainly due to a 12% increase in revenue from Developer Services and partially offset by a 4% decrease in revenue from Vertical Applications.

 

Cost of revenues was RMB25.8 million (US$3.7 million), an increase of 19% from RMB21.8 million in the same quarter of last year. The increase was mainly due to a RMB1.8 million increase in technical service cost, a RMB0.3 million increase in cloud costs and a RMB0.8 million increase in short messaging cost.

 

Gross profit was RMB53.2 million (US$7.6 million), an increase of 2% from RMB52.3 million in the same quarter of last year.

 

Total operating expenses were RMB57.1 million (US$8.1 million), a decrease of 5% from RMB60.0 million in the same quarter of last year.

 

·

Research and development expenses were RMB24.2 million (US$3.4 million), a decrease of 26% from RMB32.8 million in the same quarter of last year, mainly due to a RMB3.1 million decrease in personnel costs, a RMB3.0 million decrease in technical service fee, a RMB1.9 million decrease in cloud cost and a RMB0.8 million decrease in depreciation expense.

 

·

Sales and marketing expenses were RMB22.4 million (US$3.2 million), an increase of 3% from RMB21.8 million in the same quarter of last year, mainly due to a RMB1.1 million increase in travel expense.

 

·

General and administrative expenses were RMB10.4 million (US$1.5 million), an increase of 92% from RMB5.4 million in the same quarter of last year, mainly due to there was a one-time gain on disposal of property and equipment of RMB7.6 million in Q3’2023 which was non-existence in Q3’2024. The impact was partially offset by a RMB1.5 million decrease in personnel costs.

 

Loss from operations was RMB3.6 million (US$0.5 million), compared with RMB1.8 million in the same quarter of last year.

 

Net Loss was RMB2.2 million (US$0.3 million), compared with RMB7.0 million in the same quarter of last year.

 

Adjusted net loss (non-GAAP) was RMB0.9 million (US$0.1 million), compared with a RMB2.1 million adjusted net income in the same quarter of last year.

 

Adjusted EBITDA (non-GAAP) was RMB0.6 million (US$82 thousand), compared with RMB4.5 million for the same quarter of last year.

 

2 

 

 

The cash and cash equivalents and restricted cash were RMB101.1 million (US$14.4 million) as of September 30, 2024 compared with RMB115.0 million as of December 31, 2023.

 

Update on Share Repurchase

 

As of September 30, 2024, the Company had repurchased a total of 245,638 ADS, of which 28,995 ADSs, or around US$150.4 thousand were repurchased during the third quarter in 2024.

 

Conference Call

 

The Company will host an earnings conference call on Thursday, November 14, 2024 at 7:30 a.m. U.S. Eastern Time (8:30 p.m. Beijing time on the same day).

 

All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration.

 

Participant Online Registration: https://register.vevent.com/register/BIbffdeba3d6fd4cb59da31309ca6efd3f

 

A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile’s website at https://ir.jiguang.cn/.

 

Use of Non-GAAP Financial Measures

 

In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net income/(loss) and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net income/(loss) as net loss excluding share-based compensation, reduction in force charges and impairment of long-term investments. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, amortization of land use right, income tax expenses/(benefits), share-based compensation, reduction in force charges and impairment of long-term investments.

 

The Company believes that adjusted net income/(loss) and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss.

 

The Company believes that adjusted net income/(loss) and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.

 

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net income/(loss) and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

 

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

 

3 

 

 

Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release.

 

Safe Harbor Statement

 

This announcement contains forward-looking statements. These statements are made under 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,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

 

About Aurora Mobile Limited

 

Founded in 2011, Aurora Mobile is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises' digital transformation.

 

For more information, please visit https://ir.jiguang.cn/.

 

4 

 

 

For investor and media inquiries, please contact:

 

Aurora Mobile Limited

 

[e-mail]

 

Christensen

 

In China

Ms. Xiaoyan Su

Phone: [phone]

E-mail: [e-mail]

 

In U.S.

Ms. Linda Bergkamp

Phone: [phone]

Email: [e-mail]

 

Footnote:

 

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.0176 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2024.

 

5 

 

 

AURORA MOBILE LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS

(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share data)

 

		Three months ended																Nine months ended
		September 30, 2023				June 30, 2024				September 30, 2024								September 30, 2023				September 30, 2024
		RMB				RMB				RMB				US$				RMB				RMB				US$
Revenues			74,058				79,441				79,052				11,265				212,822				223,017				31,780
Cost of revenues			(21,756	)			(26,670	)			(25,846	)			(3,683	)			(66,817	)			(70,668	)			(10,070	)
Gross profit			52,302				52,771				53,206				7,582				146,005				152,349				21,710
Operating expenses
Research and development			(32,797	)			(23,652	)			(24,157	)			(3,442	)			(94,721	)			(70,490	)			(10,045	)
Sales and marketing			(21,750	)			(20,478	)			(22,448	)			(3,199	)			(60,649	)			(60,317	)			(8,595	)
General and administrative			(5,436	)			(10,677	)			(10,447	)			(1,489	)			(33,582	)			(34,056	)			(4,853	)
Total operating expenses			(59,983	)			(54,807	)			(57,052	)			(8,130	)			(188,952	)			(164,863	)			(23,493	)
Other operating income(1)			5,850				1,055				202				29				10,179				2,836				404
Loss from operations			(1,831	)			(981	)			(3,644	)			(519	)			(32,768	)			(9,678	)			(1,379	)
Foreign exchange gain/(loss), net			26				12				195				28				(67	)			184				26
Interest income			269				195				211				30				953				2,593				369
Interest expenses			(209	)			(42	)			(42	)			(6	)			(650	)			(90	)			(13	)
Other (loss)/income			(5,439	)			(20	)			1,048				149				(13,966	)			1,043				149
Change in fair value of structured deposits			11				15				50				7				24				88				13
Loss before income taxes			(7,173	)			(821	)			(2,182	)			(311	)			(46,474	)			(5,860	)			(835	)
Income tax benefits/(expenses)			177				(483	)			24				3				506				(215	)			(31	)
Net loss			(6,996	)			(1,304	)			(2,158	)			(308	)			(45,968	)			(6,075	)			(866	)
Less: net (loss)/income attributable to noncontrolling interests and redeemable noncontrolling interests			(225	)			(304	)			423				60				(1,115	)			(95	)			(14	)
Net loss attributable to Aurora Mobile Limited’s shareholders			(6,771	)			(1,000	)			(2,581	)			(368	)			(44,853	)			(5,980	)			(852	)
Net loss per share, for Class A and Class B common shares:
Class A and B Common Shares - basic and diluted			(0.08	)			(0.01	)			(0.03	)			(0.00	)			(0.56	)			(0.08	)			(0.01	)
Shares used in net loss per share computation:
Class A Common Shares - basic and diluted			62,731,319				62,603,736				62,717,083				62,717,083				62,813,504				62,669,237				62,669,237
Class B Common Shares - basic and diluted			17,000,189				17,000,189				17,000,189				17,000,189				17,000,189				17,000,189				17,000,189
Other comprehensive (loss)/income
Foreign currency translation adjustments			(343	)			208				(826	)			(118	)			1,640				(540	)			(77	)
Total other comprehensive (loss)/income, net of tax			(343	)			208				(826	)			(118	)			1,640				(540	)			(77	)
Total comprehensive loss			(7,339	)			(1,096	)			(2,984	)			(426	)			(44,328	)			(6,615	)			(943	)
Less: comprehensive (loss)/income attributable to noncontrolling interests and redeemable noncontrolling interests			(225	)			(304	)			423				60				(1,115	)			(95	)			(14	)
Comprehensive loss attributable to Aurora Mobile Limited’s shareholders			(7,114	)			(792	)			(3,407	)			(486	)			(43,213	)			(6,520	)			(929	)

 

(1) Beginning on January 1, 2024 we classified the government grants that are operating in nature as other operating income. Comparative figures were reclassified to conform to this presentation.

 

 

 

AURORA MOBILE LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

 

		As of
		December 31, 2023				September 30, 2024
		RMB				RMB				US$
ASSETS
Current assets:
Cash and cash equivalents			114,521				100,755				14,357
Restricted cash			486				367				52
Accounts receivable			34,344				40,524				5,775
Prepayments and other current assets			20,225				20,175				2,875
Total current assets			169,576				161,821				23,059
Non-current assets:
Long-term investments			112,912				112,488				16,029
Property and equipment, net			1,433				3,179				453
Operating lease right-of-use assets			4,081				20,884				2,976
Intangible assets, net			17,941				14,697				2,094
Goodwill			37,785				37,785				5,384
Deferred tax assets			1,072				442				63
Other non-current assets			5,387				6,136				875
Total non-current assets			180,611				195,611				27,874
Total assets			350,187				357,432				50,933
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term loan			-				3,000				427
Accounts payable			21,073				27,072				3,858
Deferred revenue and customer deposits			141,518				134,810				19,210
Operating lease liabilities			4,007				5,403				770
Accrued liabilities and other current liabilities			74,682				68,015				9,692
Total current liabilities			241,280				238,300				33,957
Non-current liabilities:
Operating lease liabilities			629				16,128				2,298
Deferred tax liabilities			3,994				3,419				487
Other non-current liabilities			563				567				81
Total non-current liabilities			5,186				20,114				2,866
Total liabilities			246,466				258,414				36,823
Shareholders’ equity:
Common shares			50				50				7
Treasury shares			(2,453	)			(1,669	)			(238	)
Additional paid-in capital			1,045,397				1,046,525				149,129
Accumulated deficit			(988,669	)			(994,649	)			(141,736	)
Accumulated other comprehensive income			19,223				18,683				2,662
Total Aurora Mobile Limited’s shareholders’ equity			73,548				68,940				9,824
Noncontrolling interests			30,173				30,078				4,286
Total shareholders’ equity			103,721				99,018				14,110
Total liabilities and shareholders’ equity			350,187				357,432				50,933

 

 

 

AURORA MOBILE LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

 

		Three months ended																Nine months ended
		September 30, 2023				June 30, 2024				September 30, 2024								September 30, 2023				September 30, 2024
		RMB				RMB				RMB				US$				RMB				RMB				US$
Reconciliation of Net Loss to Adjusted Net Income/(Loss):
Net loss			(6,996	)			(1,304	)			(2,158	)			(308	)			(45,968	)			(6,075	)			(866	)
Add:
Share-based compensation			2,848				913				1,249				178				10,054				3,430				489
Reduction in force charges			619				-				-				-				2,358				-				-
Impairment of long-term investment			5,604				-				-				-				15,264				-				-
Adjusted net income/(loss)			2,075				(391	)			(909	)			(130	)			(18,292	)			(2,645	)			(377	)
Reconciliation of Net Loss to Adjusted EBITDA:
Net loss			(6,996	)			(1,304	)			(2,158	)			(308	)			(45,968	)			(6,075	)			(866	)
Add:
Income tax (benefits)/expenses			(177	)			483				(24	)			(3	)			(506	)			215				31
Interest expenses			209				42				42				6				650				90				13
Depreciation of property and equipment			868				371				361				51				4,853				1,112				158
Amortization of intangible assets			1,519				1,115				1,112				158				4,714				3,596				512
Amortization of land use right			-				-				-				-				994				-				-
EBITDA			(4,577	)			707				(667	)			(96	)			(35,263	)			(1,062	)			(152	)
Add:
Share-based compensation			2,848				913				1,249				178				10,054				3,430				489
Reduction in force charges			619				-				-				-				2,358				-				-
Impairment of long-term investment			5,604				-				-				-				15,264				-				-
Adjusted EBITDA			4,494				1,620				582				82				(7,587	)			2,368				337

 

 

 

AURORA MOBILE LIMITED

UNAUDITED SAAS BUSINESSES REVENUE

(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

 

		Three months ended																Nine months ended
		September 30, 2023				June 30, 2024				September 30, 2024								September 30, 2023				September 30, 2024
		RMB				RMB				RMB				US$				RMB				RMB				US$
Developer Services			51,534				56,406				57,485				8,191				149,071				158,640				22,606
Subscription			46,659				48,124				51,651				7,360				124,693				142,126				20,253
Value-Added Services			4,875				8,282				5,834				831				24,378				16,514				2,353
Vertical Applications			22,524				23,035				21,567				3,074				63,751				64,377				9,174
Total Revenue			74,058				79,441				79,052				11,265				212,822				223,017				31,780
Gross Profits			52,302				52,771				53,206				7,582				146,005				152,349				21,710
Gross Margin			70.6	%			66.4	%			67.3	%			67.3	%			68.6	%			68.3	%			68.3	%

 

 

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