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Aurora Mobile Limited Announces First Quarter 2020 Unaudited Financial Results

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SHENZHEN, China, June 11, 2020 (GLOBE NEWSWIRE) — Aurora Mobile Limited (“Aurora Mobile” or the “Company”) (NASDAQ:JG), a leading mobile developer service provider in China, today announced its unaudited financial results for the first quarter ended March 31, 2020.
First Quarter 2020 Financial HighlightsRevenues were RMB126.2 million (US$17.8 million), a decrease of 45% year-over-year.Cost of revenues was RMB84.9 million (US$12.0 million), a decrease of 49% year-over-year.Gross profit was RMB41.3 million (US$5.8 million), a decrease of 35% year-over-year.Total operating expenses were RMB93.1 million (US$13.1 million), a decrease of 1% year-over-year.Net loss was RMB51.0 million (US$7.2 million), compared with a net loss of RMB23.7 million for the same period last year.Adjusted net loss (non-GAAP) was RMB43.2 million (US$6.1 million), compared with a RMB16.7 million adjusted net loss for the same period last year.Adjusted EBITDA (non-GAAP) was negative RMB30.3 million (US$4.3 million), compared with negative RMB7.4 million for the same period last year.First Quarter 2020 Operational HighlightsNumber of mobile apps utilizing at least one of the Company’s developer services, or the cumulative app installations, increased to approximately 1,499,000 as of March 31, 2020 from approximately 1,165,000 as of March 31, 2019.Number of monthly active unique mobile devices increased to 1.36 billion in March 2020 from 1.07 billion in March 2019.Cumulative SDK installations increased to 37.2 billion as of March 31, 2020 from 22.7 billion as of March 31, 2019.Number of paying customers increased to 2,211 in the first quarter of 2020 from 1,951 in the first quarter of 2019.Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, “The first quarter of 2020 has proven to be a challenging one for many companies, including us. Firstly, the quarter is typically a seasonally weaker one due to the Chinese New Year holiday. This year, the COVID-19 outbreak adversely impacted this seasonally slow period even further across China. Many businesses were temporarily shut down or delayed restarting their operations for many weeks as the pandemic unfolded. Despite the slower than expected period, we ramped back up to 100% capacity by the middle of March, in line with most of our customers who resumed normal operations in mid-to-late March.”“During this period of temporary disruption, we took the initiative to further strengthen our core competencies. This included narrowing our focus on Developer Services, improving operational and technical efficiency, streamlining internal procedures and reinforcing our commitment to delivering exceptional customer service. With these initiatives now in place, we believe we will emerge from this pandemic stronger than ever and ideally positioned to better adapt to the current uncertainties that hang over the market.”“Beginning from this quarter, the revenues from Advertisement SaaS and Light-Push services, which help developers grow and monetize their user base, will be separately classified as “Value-Added-Services” under Developer Services. No changes are made to other revenue classifications. Our strategic focus remains to drive the growth of Developer Services and SaaS products. Overtime, we expect the revenue and gross profit contributions from Targeted Marketing to be less and less significant.”“Market adoption of our Value-Added Services, which launched in the fourth quarter of 2019, has exceeded our expectations. The average monthly revenue from Value-Added Services was approximately RMB2.1M in the first quarter of 2020. The revenue has since doubled in the month of April and we expect the strong revenue growth momentum to continue into the second quarter of 2020.”Mr. Fei Chen, President of Aurora Mobile, added, “Our core businesses, including Developer Services and SaaS products, continued to see healthy 15% year-over-year revenue growth and 20% year-over-year gross profit growth despite the impact from the pandemic and low seasonality. Our strategic transition away from the low margin and high-risk Targeted Marketing business, that we started in the third quarter 2019, has gone very well with Targeted Marketing now only contributing about 12% of our total gross profit. Such transition has reflected in our revenue decline by 45% from RMB230 million in first quarter 2019 to RMB126 million in the current quarter. Our growth of revenue and profitability is no longer dependent upon this legacy Targeted Marketing business.”“Developer Services once again was the highlight of the quarter with an impressive performance where it recorded a solid 72% year-over-year increase in revenue on the back of strong growth in both Subscription businesses and Value-Added Services. The combined revenues from SaaS products, including financial risk management, market intelligence and iZone, decreased by 28% year-over-year from RMB24.8 million in the first quarter of last year to RMB17.8 million. The decline was due to the COVID-19 outbreak which impacted customer demand in financial risk management and location-based iZone business.”Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, “Despite the tough business environment in the first quarter of 2020, we managed to maintain our gross margins at 33%, flat sequentially and a meaningful increase from 27.6% during the same period last year.”“As a percentage of revenue, Developer Services and SaaS-based products accounted for 39% during the quarter, a significant increase from 19% during the same period last year. Targeted Marketing, on the other hand, accounted for 61% of total revenue during the quarter, down from 81% during the same period last year. In terms of gross margin contribution, Developer Services and SaaS-based products accounted for 88% of gross profit whereas Targeted Marketing, which is no longer our strategic focus, accounted for only 12% during the quarter. With Developer Services and SaaS Products increasingly contributing more meaningfully to gross margins, we believe we have identified and built a higher quality, more resilient and sustainable business model that can support and fuel a further expansion of our margins and profitability in the future.”First Quarter 2020 Financial ResultsRevenues were RMB126.2 million (US$17.8 million), a decrease of 45% from RMB230.5 million in the same quarter of last year, mainly due to the decrease in revenues from Targeted Marketing and other SaaS products, which together decreased 55% year-over-year. This was partially offset by revenue growth from Developer Services which increased 72% year-over-year.Cost of revenues was RMB84.9 million (US$12.0 million), a decrease of 49% from RMB167.2 million in the first quarter of 2019. The decrease was mainly due to a RMB82.6 million decrease in media costs and a RMB0.6 million decrease in staff cost which were partially offset by a RMB2.0 million increase in SMS costs.Gross profit was RMB41.3 million (US$5.8 million), a decrease of 35% from RMB63.3 million in the first quarter of 2019, primarily due to the decrease in gross profit from Targeted Marketing business as the Company strategically shifts its focus to Developer Services and SaaS-based products.Total operating expenses were RMB93.1 million (US$13.1 million), a decrease of 1% from RMB94.2 million in the same quarter of last year.Research and development expenses were RMB41.4 million (US$5.8 million), a decrease of 3% from RMB42.7 million in the same quarter of last year, mainly due to a RMB3.2 million decrease in cloud costs and a RMB3.0 million decrease in personnel costs which were partially offset by a RMB2.8 million increase in depreciation of servers and amortization of intangible assets, as well as a RMB1.8 million increase in technical service fees.Sales and marketing expenses were RMB25.2 million (US$3.6 million), a decrease of 7% from RMB27.0 million in the same quarter of last year, mainly due to a RMB2.1 million decrease in marketing expenses and a RMB1.5 million decrease in travel and entertainment expenses which were partially offset by a RMB1.9 million increase in personnel costs.General and administrative expenses were RMB26.5 million (US$3.7 million), an increase of 8% from RMB24.5 million in the same quarter of last year, mainly due to a RMB1.4 million increase in bad debt allowance, a RMB1.3 million increase in personnel costs, and a RMB0.5 million decrease in travel and entertainment expenses.Loss from operations was RMB51.7 million (US$7.3 million), compared with RMB30.9 million in the same quarter of last year.Net Loss was RMB51.0 million (US$7.2 million), compared with RMB23.7 million in the same quarter of last year.Adjusted net loss (non-GAAP) was RMB43.2 million (US$6.1 million), compared with RMB16.7 million in the same period of last year.Adjusted EBITDA (non-GAAP) was negative RMB30.3 million (US$4.3 million) compared with negative RMB7.4 million for the same period of last year.The cash and cash equivalents, restricted cash and short -term investment decreased from RMB431.6 million as of December 31,2019 to RMB383.4 million (US$54.2 million) as of March 31, 2020. Update on Share Repurchase
As of March 31, 2020, the Company had repurchased a total of 920,606 ADS. No ADS were repurchased during first quarter of 2020.
The Company today announced that its board of directors has extended its share repurchase program and also approved a new program under which the Company may repurchase up to US$10 million of its shares over the next twelve months. The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Company’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company plans to fund repurchases from its existing cash balance.Conference CallThe Company will host an earnings conference call on Thursday, June 11, 2020 at 7:00 a.m. U.S. Eastern Time (7:00 p.m. Hong Kong time on the same day).Due to the outbreak of COVID-19, operator assisted conference calls are not available at the moment. All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration.Participant Online Registration:
http://apac.directeventreg.com/registration/event/9871205
A telephone replay of the call will be available after the conclusion of the conference call through 9:00 p.m. U.S. Eastern Time, June 17, 2020.The dial-in details for the replay are as follows:A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile’s website at http://ir.jiguang.cn/.Use of Non-GAAP Financial MeasuresIn evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net loss and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net loss as net loss excluding share-based compensation, reduction in force charges, fair value loss/(gain) of long-term investment, and change in fair value of derivative liability. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, income tax (expense) benefit, share-based compensation, reduction in force charges, fair value loss/(gain) of long-term investment, and change in fair value of derivative liability.The Company believes that adjusted net loss and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss.The Company believes that adjusted net loss and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net loss and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release.Safe Harbor StatementThis announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SaaS-model; its ability maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.About Aurora Mobile LimitedFounded in 2011, Aurora Mobile is a leading mobile developer service provider in China, and a pioneer in providing mobile developer services such as push notification, instant messaging, analytics, sharing and short message service (SMS). Aurora Mobile has accumulated data from approximately 1.50 million mobile applications that have utilized the Company’s developer services and nearly 37.2 billion installations of the Company’s software development kits (SDKs), with monthly active unique device base of nearly 1.36 billion, as of March 2020. Based on Aurora Mobile’s vast data coverage and insights garnered, the Company has expanded its offerings into big data solutions, including targeted marketing, financial risk management, market intelligence and location-based intelligence. By utilizing artificial intelligence and machine learning, Aurora Mobile strives to help improve productivity for businesses and society through harnessing the power of mobile big data to derive actionable insights and knowledge.For more information, please visit http://ir.jiguang.cn/.For investor and media inquiries, please contact:Aurora Mobile Limited
ir@jiguang.cn
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com 
Footnote:
This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.0808 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2020.





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Release Is Transforming The World’s Agriculture & Fisheries Logistics Through Its Blockchain-Powered Social Commerce Platform

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New Taipei City, Taiwan, July 12, 2020 (GLOBE NEWSWIRE) — While the concept of social commerce is gaining traction, there are several inherent challenges that are hindering its growth. Among these, a few of the most prominent ones include – logistics & supply chain inefficiency, the lack of effective communication between buyers and sellers, etc. To address these issues and more, Release Co. Ltd. has harnessed the power of blockchain technology and tokenization. 

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The Global Autonomous Vessels Market is expected to grow from USD 13,769.50 Million in 2019 to USD 21,784.01 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 7.94%

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New York, July 10, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Autonomous Vessels Market Research Report by Fit, by Type, by Automataion, by Solution, by Users – Global Forecast to 2025 – Cumulative Impact of COVID-19” – https://www.reportlinker.com/p05913503/?utm_source=GNW
On the basis of Fit, the Autonomous Vessels Market is studied across Line Fit and Retrofit.
Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001

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CORRECTION – OMNIQ’s Artificial Intelligence-Based Quest Shield™ Solution Selected by the Talmudical Academy of Baltimore

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SALT LAKE CITY, July 10, 2020 (GLOBE NEWSWIRE) — In a release issued under the same headline on June 1, 2020 by OMNIQ, Inc. (OTCQB:OMQS), please be advised that the second paragraph as originally issued contained certain inaccuracies, not related to financial results or projections, which have been corrected below.Quest Shield™ security package provides a  proactive ground-breaking cloud-based solution for crime prevention on campuses and in schools using  automatic Machine Vision detection and identification of vehicles by license plate, make and color via an AI-based  identification algorithm
Real-time alert and notification to law enforcement authorities to actively prevent potential tragediesTechnology developed in Israel, previously deployed with success in sensitive security zones in the U.S., Middle East and elsewhereAddressing Covid-19 concerns, students will be equipped with a contactless, readable ID tag verifying pre-screened temperature test clearanceTalmudical Academy in Baltimore has over 1,000 students and is part of the Chofetz Haim educational chain with more than 35 locations in the U.S., Canada and IsraelOMNIQ, Inc. (OTCQB:OMQS) (“OMNIQ” or “the Company”), announces that it has been selected to deploy its Quest Shield™ campus safety solution at the Talmudical Academy of Baltimore in Maryland.The Quest Shield™ security package uses the Company’s AI-based SeeCube technology platform, a ground-breaking cloud-based/on-premise security solution for Safe Campus/School applications. The platform provides unique AI-based computer vision technology and software to gather real-time vehicle data, enabling the Quest Shield™ to identify and record images of approaching vehicles including color, make and license plate information. The license plate is then compared against the school’s internal watch list to provide immediate notifications of unauthorized vehicles to security and administrative personnel. In addition to providing a vehicle identification and recognition solution to the Talmudical Academy, the Quest Shield™ comprehensive security platform addresses other security concerns including controlling access to the buildings and visitor management as well as the ability to pre-register guests for school activities. Additionally, as part of COVID-19 mitigation, parents in Maryland will be asked to take and record their child’s temperature each day before they leave for school. Quest Shield™ will automate this process, by providing parents an online form where they may record the temperature. All Talmud Academy students will be equipped with an ID tag that will have a QR code that can be read with a barcode scanner. As students enter campus, faculty equipped with Quest handheld scanners will read the barcode to confirm that the student’s temperature has been taken that day; if the form has not been filled in, faculty will check temperatures before allowing students inside.    Shai Lustgarten, CEO of OMNIQ, commented: “It is our privilege to work with the Talmudical Academy to provide our solution to enhance safety at their Baltimore campus. Quest Shield™ is an extension of the homeland security solution we designed for the Israeli authorities to fight terrorism and save lives.”Rabbi Yaacov Cohen, Executive Director, Talmudical Academy of Baltimore, commented: “Concern about campus safety and the safety of our students and faculty drove the Talmudical Academy to seek ways to implement new strategies aimed at preventing crimes and violence that may be committed on the school grounds. The unfortunate reality today is that situations we could never imagine just a few years ago are happening now with increasing regularity. Most security systems that are currently being deployed on other campuses are good at recording events subsequent to crimes being committed. With Quest Shield™, we have an opportunity to alert personnel and Law Enforcement ahead of any sign of violence.”Mr. Lustgarten added: “The Quest Shield™ has been tailored to provide a proactive solution to improve security and safety in schools and on campuses as well as community centers and places of worship in the U.S. that have unfortunately become a target for ruthless attacks. We’re pleased to work with a forward-thinking organization like the Talmudical Academy, it is gratifying that the Academy selected the Quest Shield™ platform to strengthen its security precautions.”“Additionally, many schools and communities are expressing concern around children returning to school in the fall due to COVID-19. With that in mind, Talmudical Academy will also employ the Quest Shield™ to provide an automated screening process to confirm that students have had their temperatures checked, per Maryland regulation, upon their arrival on campus and prior to them entering the school facilities.”Mr. Lustgarten concluded, “We are proud to be able to improve student safety in the U.S., as well as in other vulnerable communities. Quest Shield™ has previously been implemented by a pre-K through Grade 12 school in Florida and at a Jewish Community Center in Salt Lake City. We look forward to working closely with the Academy and other institutions to promote the health and safety of students, faculty and support personnel.”About OMNIQ, Corp.
OMNIQ Corp. (OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management and access control applications. The technology and services provided by the Company help clients move people, assets and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.
OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals.  Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.
The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. Information about Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at http://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.Investor Contact:
John Nesbett/Jen Belodeau
IMS Investor Relations
203.972.9200
jnesbett@institutionalms.com 

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