Smart Share Global Limited (EM) has seen a push of 5.4% in the aftermarket. However, the last trading session closed at $1.85 with an increase of 3.93%.
Third Quarter 2021 Results – What’s up?
EM announced third quarter 2021 results on 30th November 2021. The company announced that the revenue came out to be $144.3 million. Not only this but the revenue from the mobile device charging business totaled $139.0 million. Furthermore, the cost of revenues had risen to $21.7 million with an increase of 20%. The research and development costs were $ 4.5 million with sales and marketing expenses increased by 23.8%. Last but not the least, the net loss reported was around $12.3 million.
What’s Next?
EM anticipates that the efforts to optimize the operations and reduce costs will mitigate the impact of the COVID-19 outbreaks. Moreover, the company will keep building on the competitive advantages and increasing the network of high-quality site partners by using the solid cash reserve. Furthermore, the competitive advantages will position the company to seize the long-term development in China’s mobile device charging service business once COVID-19 outbreaks have been totally contained in the country.
Second Quarter 2021 Results – How was the quarter?
EM announced second-quarter 2021 results on 23rd August 2021. The company reported net revenue of about $150.6 million. Moreover, adjusted net income came out to be $2.7 million. Not only this but the research and development costs were $3.2 million with sales and marketing expenses of $119.4 million. Lastly, the company experienced cash and cash equivalents of $476.1 million.
What’s New?
EM continues to expect challenges in the third quarter that will influence what has usually been the year’s peak period. Moreover, despite these obstacles, the company stays faithful to the long-term strategy of offering best-in-class products and value propositions to the users, location partners, and network partners. Lastly, the company will be able to set us apart from the industry counterparts and provide long-term value to the shareholders by concentrating on these tactics.
