Dada Nexus Stock Slides After Q2 Results; Loss Widens

Dada Nexus Ltd (NASDAQ:DADA) reported second-quarter FY21 sales growth of 11.5% year-on-year, to RMB1.5 billion.
The total Gross Merchandise Volume (GMV) of the JDDJ platform for the twelve months ended June 30, 2021, was RMB32.3 billion, an increase of 76.7% Y/Y.
The number of active consumers for the twelve months ended June 30, 2021, was 51.3 million, a 58.8% rise Y/Y.
The operating loss widened to RMB(665.8) million. Non-GAAP loss from operations widened to RMB(573.3) million.
The company held RMB4.66 billion in cash and equivalents as of June 30, 2021.
Outlook: Dada sees Q3 FY21 revenue of RMB1.63 billion - RMB1.68 billion.
It expects the non-GAAP net loss margin to narrow in 2H of 2021.
Price action: DADA shares are trading lower by 5.15% at $25.05 in premarket on the last check Wednesday.

Benzinga