Aurora Mobile Q2 Revenue Declines 32%, Slashes FY21 Outlook

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  • Mobile developer service provider Aurora Mobile Ltd JG reported a second-quarter FY21 revenue decline of 32% year-on-year to $13.8 million (RMB89.0 million), beating the consensus of $13.6 million.
  • The decline was mainly due to the company's Targeted Marketing business exit, offset by revenue growth of 34% from both Developer Services and Vertical Applications. 
  • Segments: Revenues from Developer Services reached RMB61.2 million, up 34% Y/Y, Subscription Services were RMB37.5 million, up 22% Y/Y, and Value-added-services within Developer Services grew by 57% Y/Y to RMB23.6 million.
  • The monthly active unique mobile devices increased to 1.42 billion in June 2021 from 1.38 billion in June 2020. The number of paying customers increased to 2,634 in Q2 of 2021 from 2,396 in Q2 of 2020.
  • EPS loss of $(0.06) beat the consensus loss of $(0.09). The gross margin was 75.7%.
  • Aurora Mobile held $46 million in cash and equivalents.
  • Outlook: Aurora Mobile lowered the FY21 revenue outlook from RMB380.0 million - RMB400.0 million to RMB342.0 million - RMB360.0 million versus the consensus of $59.7 million. The new outlook reflects the revised view for its JG Alliance business. 
  • Price Action: JG shares closed lower by 8.58% at $2.13 on Wednesday.
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