BEST Inc. (BEST) stock surged 3.45% in the pre-market trading session at the price of $0.90 despite no fundamental reason. The last published news was its financial results for the three months that ended on 30th September 2021.   

BEST Inc. is a leading provider of logistics services and integrated supply chain solutions. The company offers a broad set of logistics and value-add services through its exclusive technology platform and widespread networks.  

BEST Third Quarter 2021 Financial Results 

On 16th November 2021, BEST published its unaudited financial results for the three months that ended on 30th September 2021. The company has also presented its corporate updates.   

Financial Summary  

BEST reported revenue of RMB6,812.4 million (US$1,057.3 million) for the third quarter of 2021. It represents a year-over-year drop of 14.6%. For the third quarter of 2021, the gross loss totaled RMB505.1 million (US$78.4 million). The company reported a gross loss of RMB58.5 million for the third quarter of 2020. As of 30th September 2021, cash and cash equivalents totaled RMB3,378.3 million (US$524.3 million). The company reported cash and cash equivalents of RMB3,413.3 million as of 30th June 2021.

For the third quarter ended 30th September 2021, BEST reported net loss of RMB654.9 million (US$101.6 million). Net loss was RMB565.9 million for the third quarter of 2020. Diluted EPS was negative RMB1.65 (US$0.26) for the third quarter of 2021. For the third quarter of 2020, diluted EPS was negative RMB1.45. The cost of revenue totaled RMB7,317.5 million (US$1,135.7 million) for the third quarter of 2021.

BEST reported a negative EBITDA of RMB451.8 million (US$70.1 million) for the third quarter ended 30th September 2021. EBITDA was negative RMB392.6 million for the third quarter of 2020. For the third quarter ended 30th September 2021, adjusted EBITDA was negative RMB481.1 million (US$74.7 million). Adjusted EBITDA was negative RMB369.5 million for the third quarter of 2020.

Selling, general, and administrative costs totaled RMB423.4 million (US$65.7 million) for the third quarter ended 30th September 2021. SG&A expenses were RMB453.5 million for the third quarter of 2020. BEST reported research and development expenses of RMB61.2 million (US$9.5 million) for the third quarter of 2021. R&D expenses totaled RMB44.9 million for the third quarter ended 30th September 2020.