NaaS Technology Registers 47% Growth In Q2 Revenues - Naas Technology (NASDAQ:NAAS)

NaaS Technology Inc NAAS reported second-quarter FY22 gross revenue growth of 47% year-on-year, to RMB56.3 million ($8.4 million) versus RMB38.3 million last year.
Revenues from online EV charging solutions increased 39% Y/Y to RMB52.2 million ($7.8 million), and Offline EV charging revenues soared 562% to RMB4.1 million ($0.6 million).
The operating expenses for the quarter jumped 578% to RMB529.5 million ($79.0 million).
Operating loss for the quarter was RMB(519.7) million or $(77.6) million).
The company held $62 million in cash and equivalents as of June 30, 2022.
Adjusted loss per ADS for the quarter was $(0.06).
Outlook: The company expects the total charging volume for the fiscal year 2022 to exceed 2,700 GWh.
Price Action: NAAS shares are trading higher by 8.14% at $7.11 in premarket on the last check Monday.