Third Quarter 2019 Financial and Operating Highlights
- Net revenues reached
RMB1.07 billion (US$149.6 million ), an increase of 89.2% from the third quarter of 2018. - Gross margin was 22.3%, compared to 30.0% for the third quarter of 2018.
- Net income was
RMB73.3 million (US$10.3 million ), compared to a net loss ofRMB59.8 million for the third quarter of 2018. Net income margin was 6.9%. - Non-GAAP net income1 was
RMB83.9 million (US$11.7 million ), an increase of 116.4% from the third quarter of 2018. Non-GAAP net income margin1 was 7.8%, compared to 6.9% for the third quarter of 2018. - Number of household users reached more than 2.6 million, compared to approximately 2.3 million as of the end of the second quarter of 2019 and approximately 1.4 million as of the end of the third quarter of 2018.
- Percentage of household users with at least two connected products reached 17.1%, compared to 16.1% as of the end of the second quarter of 2019 and 13.2% as of the end of the third quarter of 2018.
- Number of
Viomi offline experience stores was approximately 1,600, compared to approximately 1,900 as of the end of the second quarter of 2019 and approximately 1,200 as of the end of the third quarter of 2018.
_________________________
1 “Non-GAAP net income” is defined as net income excluding share-based compensation expenses. “Non-GAAP net income margin” equals non-GAAP net income divided by total revenues. See “Reconciliation of GAAP and Non-GAAP Results” at the end of this press release.
First Nine Months of 2019 Financial Highlights
- Net revenues reached
RMB2.91 billion (US$406.5 million ), an increase of 81.0% from the first nine months of 2018. - Gross margin was 25.3%, compared to 28.6% for the first nine months of 2018.
- Net income was
RMB203.6 million (US$28.5 million ), compared toRMB10.5 million for the first nine months of 2018. - Non-GAAP net income was
RMB236.3 million (US$33.1 million ), an increase of 102.2% from the first nine months of 2018. Non-GAAP net income margin was 8.1%, compared to 7.3% for the first nine months of 2018.
“Once again, we are proud to deliver robust and healthy revenue and profitability growth in the third quarter, continuing the strong momentum from the first half of 2019, despite ongoing uncertainties in the overall industry and macro environment,” said Mr.
“As part of our core strategy for this year, we continued to introduce additional product lines and SKUs to strengthen our overall product portfolio and offerings. In addition to new
“Continuing the theme of preparing for the upcoming 5G era and establishing a leading position in this space, we recently introduced our own 5G Customer Premise Equipment products. Developed with industry-leading specifications, we expect this product to raise the IoT @ Home experience to a higher level through its next-generation connectivity capabilities. Separately, to complement our product innovation and development efforts, we have also been stepping up efforts in developing our proprietary e-commerce platform, Yunmi Shangcheng, and social-commerce platform, Viomi Lifestyle Center. Both platforms have experienced significant growth over the past year, providing us extra inroads to enhance household user stickiness and create further monetization opportunities going forward,” concluded Mr. Chen.
“Product sales across our
“With regard to our offline store network, we continued to see strong interest and support from franchisees in the Viomi brand. However, in light of prevailing industry conditions, we have shifted our focus in the second half of 2019 towards further enhancing and optimizing our store performance and productivity, including the closure of underperforming stores. The number of
Third Quarter 2019 Financial Results
Net revenues increased by 89.2% to
IoT-enabled smart home products. Revenues from IoT-enabled smart home products increased by 71.9% to
- Smart water purification systems. Revenues from smart water purification systems increased by 1.2% to
RMB214.5 million (US$30.0 million ) fromRMB212.0 million for the third quarter of 2018. The increase was driven by healthy growth in sales volumes, partially offset by declines in average selling prices.
- Smart kitchen products. Revenues from smart kitchen products increased by 74.3% to
RMB342.1 million (US$47.9 million ) fromRMB196.3 million for the third quarter of 2018. The rapid growth was primarily driven by significant increases in sales volumes across many of the Company’s smart kitchen product categories, in particularViomi -branded refrigerator products, as well as the successful launch of new series ofXiaomi -branded products such as range hoods and gas stoves.
- Other smart products. Revenues from other smart products increased by 267.8% to
RMB272.7 million (US$38.1 million ) fromRMB74.1 million for the third quarter of 2018. The rapid growth was primarily driven by significant increases in sales volumes of the Company’sViomi -branded washing machine, water heater and sweeper robot products.
Consumable products. Revenues from consumable products increased by 333.3% to
Value-added businesses. Revenues from value-added businesses increased by 164.8% to
Cost of revenues increased by 110.2% to
Gross profit increased by 40.2% to
Total operating expenses decreased by 26.5% to
Research and development expenses increased by 29.3% to
Selling and marketing expenses increased by 16.4% to
General and administrative expenses decreased by 87.3% to
Income from operations was
Income before income tax expenses was
Income tax expenses were
Net income was
Non-GAAP net income was
________________________
2 “Non-GAAP operating income” is defined as income from operation excluding share-based compensation expenses. See “Reconciliation of GAAP and Non-GAAP Results” at the end of this press release.
Balance Sheet and Cash Flow
As of
For the third quarter of 2019, net cash provided by operating activities was
Shares Outstanding
As of
First Nine Months of 2019 Financial Results
Net revenues increased by 81.0% to
IoT-enabled smart home products. Revenues from IoT-enabled smart home products increased by 70.7% to
- Smart water purification systems. Revenues from smart water purification systems increased by 5.4% to
RMB679.3 million (US$95.0 million ) fromRMB644.5 million for the first nine months of 2018.
- Smart kitchen products. Revenues from smart kitchen products increased by 84.7% to
RMB890.0 million (US$124.5 million ) fromRMB481.9 million for the first nine months of 2018.
- Other smart products. Revenues from other smart products increased by 262.7% to
RMB668.5 million (US$93.5 million ) fromRMB184.3 million for the first nine months of 2018.
Consumable products. Revenues from consumable products increased by 71.2% to
Value-added businesses. Revenues from value-added businesses increased by 155.1% to
Cost of revenues increased by 89.3% to
Gross profit increased by 60.2% to
Total operating expenses increased by 21.1% to
Research and development expenses increased by 69.0% to
Selling and marketing expenses increased by 40.9% to
General and administrative expenses decreased by 55.9% to
Income from operations increased by 988.6% to
Income before income tax expenses was
Income tax expenses were
Net income was
Non-GAAP net income was
Outlook
For the fourth quarter of 2019, the Company currently expects:
- Net revenues to be between
RMB1.40 billion and RMB1.44 billion , representing a year-over-year growth of approximately 46.5% to 50.7%.
For the full year of 2019, the Company currently expects:
- Net revenues to be between
RMB4.31 billion and RMB4.35 billion , representing a year-over-year growth of approximately 68.1% to 69.7%.
The above outlook is based on the current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.
Conference Call
The Company’s management will host a conference call at
| US (Toll Free): | +1-888-346-8982 |
| International: | +1-412-902-4272 |
| Mainland China (Toll Free): | 400-120-1203 |
| Hong Kong (Toll Free): | 800-905-945 |
| Hong Kong: | +852-3018-4992 |
| Conference ID: | 10136701 |
A telephone replay will be available one hour after the call until
| US (Toll Free): | +1-877-344-7529 |
| International: | +1-412-317-0088 |
| Replay Passcode: | 10136701 |
Additionally, a live and archived webcast of the conference call will be available at http://ir.viomi.com.
About
Viomi’s mission is to redefine the future home via the concept of IoT @ Home.
Viomi has developed a unique IoT @ Home platform consisting of an ecosystem of innovative IoT-enabled smart home products, together with a suite of complementary consumable products and value-added businesses. This platform provides an attractive entry point into the consumer home, enabling consumers to intelligently interact with a broad portfolio of IoT products in an intuitive and human-like manner to make daily life more convenient, efficient and enjoyable, while allowing Viomi to grow its household user base and capture various additional scenario-driven consumption events in the home environment.
For more information, please visit: http://ir.viomi.com.
Use of Non-GAAP Measures
The Company uses non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to the Company, non-GAAP net income attributable to ordinary shareholders, non-GAAP basic and diluted net income per ordinary shares and non-GAAP basic and diluted net income per ADS, which are non-GAAP financial measures, in evaluating its operating results and for financial and operational decision-making purposes. Non-GAAP operating income is income from operations excluding share-based compensation expenses. Non-GAAP net income is net income excluding share-based compensation expenses. Non-GAAP net income attributable to the Company is net income attributable to the Company excluding share-based compensation expenses. Non-GAAP net income attributable to ordinary shareholders is net income attributable to ordinary shareholders excluding share-based compensation expenses. The non-GAAP adjustments do not have any tax impact as share-based compensation expenses are non-deductible for income tax purpose.
The Company believes that non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, which are non-cash charges, and these measures provide useful information about the Company’s operating results, enhance the overall understanding of the Company’s past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.
Non-GAAP financial measures should not be considered in isolation or construed as alternative to income from operations, net income, or any other measure of performance or as an indicator of the Company’s operating performance. Investors are encouraged to review the historical non-GAAP financial measures to the most directly comparable GAAP measures. Non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. We encourage investors and others to review its financial information in its entirety and not rely on a single financial measure.
Exchange Rate
The Company’s business is primarily conducted in
Safe Harbor Statement
This 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 Viomi’s strategic and operational plans, contain forward-looking statements.
For investor and media inquiries, please contact:
In
E-mail: ir@viomi.com.cn
Tel: +86-10-6508-0677
E-mail: viomi@tpg-ir.com
In
The Piacente Group, Inc.
Tel: +1-212-481-2050
E-mail: viomi@tpg-ir.com
VIOMI TECHNOLOGY CO., LTD
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except shares, ADS, per share and per ADS data)
| As of December 31, | As of September 30, | ||||||
| 2018 | 2019 | 2019 | |||||
| RMB | RMB | US$ | |||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | 940,298 | 727,076 | 101,722 | ||||
| Restricted cash | 29,550 | 4,760 | 666 | ||||
| Short-term deposits | - | 111,968 | 15,665 | ||||
| Short-term investments | 168,993 | 269,841 | 37,752 | ||||
| Accounts and notes receivable from third parties (net of allowance of nil and RMB2,006 as of December 31, 2018 and September 30, 2019, respectively) | 111,718 | 324,717 | 45,430 | ||||
| Accounts receivable from a related party (net of allowance of nil and nil as of December 31, 2018 and September 30, 2019, respectively) | 260,984 | 446,909 | 62,525 | ||||
| Other receivables from a related party (net of allowance of nil and nil as of December 31, 2018 and September 30, 2019, respectively) | 112,320 | 53,095 | 7,428 | ||||
| Inventories | 231,975 | 452,848 | 63,356 | ||||
| Prepaid expenses and other assets | 46,890 | 45,817 | 6,410 | ||||
| Total current assets | 1,902,728 | 2,437,031 | 340,954 | ||||
| Non-current assets | |||||||
| Prepaid expenses and other assets | 3,636 | 23,687 | 3,314 | ||||
| Property, plant and equipment, net | 11,301 | 38,764 | 5,423 | ||||
| Deferred tax assets | 5,234 | 9,392 | 1,314 | ||||
| Intangible assets, net | 169 | 2,533 | 354 | ||||
| Right-of-use assets, net3 | - | 18,951 | 2,651 | ||||
| Total non-current assets | 20,340 | 93,327 | 13,056 | ||||
| Total assets | 1,923,068 | 2,530,358 | 354,010 | ||||
| Liabilities and shareholders’ equity | |||||||
| Current liabilities | |||||||
| Accounts and notes payable | 548,481 | 760,744 | 106,432 | ||||
| Advances from customers | 86,312 | 73,872 | 10,335 | ||||
| Amount due to related parties | 5,763 | 7,667 | 1,073 | ||||
| Accrued expenses and other liabilities | 200,930 | 268,389 | 37,549 | ||||
| Short-term borrowing | - | 95,868 | 13,412 | ||||
| Income tax payables | 10,199 | 20,672 | 2,892 | ||||
| Lease liabilities due within one year3 | - | 7,105 | 994 | ||||
| Total current liabilities | 851,685 | 1,234,317 | 172,687 | ||||
| Non-current liabilities | |||||||
| Accrued expenses and other liabilities | 518 | 442 | 62 | ||||
| Lease liabilities3 | - | 12,629 | 1,767 | ||||
| Total non-current liabilities | 518 | 13,071 | 1,829 | ||||
| Total liabilities | 852,203 | 1,247,388 | 174,516 | ||||
| _____________________________________ | |||||||
| 3 The Company has adopted ASU No. 2016-02 ‘‘Leases” beginning January 1, 2019 using the optional transition method. The only major impact of the standard is that assets and liabilities amounting to RMB9.3 million and RMB9.2 million, respectively, are recognized beginning January 1, 2019 for leased office space and an offline store with terms of more than 12 months. | |||||||
VIOMI TECHNOLOGY CO., LTD
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except shares, ADS, per share and per ADS data)
| As of December 31, | As of September 30, | ||||||||
| 2018 | 2019 | 2019 | |||||||
| RMB | RMB | US$ | |||||||
| Shareholders’ equity | |||||||||
| Class A Ordinary Shares (US$0.00001 par value; 4,800,000,000 shares authorized; 90,200,000 and 96,048,677 shares issued and outstanding as of December 31, 2018 and September 30, 2019, respectively) | 5 | 6 | 1 | ||||||
| Class B Ordinary Shares (US$0.00001 par value; 150,000,000 shares authorized; 117,600,000 and 112,740,000 shares issued and outstanding as of December 31, 2018 and September 30, 2019, respectively) | 7 | 7 | 1 | ||||||
| Additional paid-in capital | 1,193,174 | 1,180,099 | 165,102 | ||||||
| (Accumulated deficit) retained earnings | (95,527 | ) | 106,945 | 14,962 | |||||
| Accumulated other comprehensive loss | (29,786 | ) | (9,199 | ) | (1,287 | ) | |||
| Total Viomi Technology Co., Ltd (the “Company”)’s shareholders’ equity | 1,067,873 | 1,277,858 | 178,779 | ||||||
| Non-controlling interests | 2,992 | 5,112 | 715 | ||||||
| Total shareholders’ equity | 1,070,865 | 1,282,970 | 179,494 | ||||||
| Total liabilities and shareholders’ equity | 1,923,068 | 2,530,358 | 354,010 | ||||||
VIOMI TECHNOLOGY CO., LTD
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
(All amounts in thousands, except shares, ADS, per share and per ADS data)
| Three Months Ended | Nine Months Ended | |||||||||||||
| September 30, 2018 | September 30, 2019 | September 30, 2019 | September 30, 2018 | September 30, 2019 | September 30, 2019 | |||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||
| Net revenues: | ||||||||||||||
| A related party | 243,725 | 481,283 | 67,334 | 895,263 | 1,220,899 | 170,810 | ||||||||
| Third parties | 321,589 | 588,218 | 82,295 | 710,230 | 1,684,964 | 235,735 | ||||||||
| Total net revenues | 565,314 | 1,069,501 | 149,629 | 1,605,493 | 2,905,863 | 406,545 | ||||||||
| Cost of revenues: | ||||||||||||||
| Purchase from a related party | (2,637 | ) | (10,203 | ) | (1,427 | ) | (8,027 | ) | (24,422 | ) | (3,417 | ) | ||
| Purchase from third parties | (392,813 | ) | (821,163 | ) | (114,885 | ) | (1,138,053 | ) | (2,145,607 | ) | (300,181 | ) | ||
| Total cost of revenues | (395,450 | ) | (831,366 | ) | (116,312 | ) | (1,146,080 | ) | (2,170,029 | ) | (303,598 | ) | ||
| Gross profit | 169,864 | 238,135 | 33,317 | 459,413 | 735,834 | 102,947 | ||||||||
| Operating expenses(1) | ||||||||||||||
| Research and development expenses | (33,371 | ) | (43,164 | ) | (6,039 | ) | (82,418 | ) | (139,309 | ) | (19,490 | ) | ||
| Selling and marketing expenses (including RMB8,788, RMB14,348, RMB11,558 and RMB44,916 with related parties for the three months ended September 30, 2018 and 2019, and for the nine months ended September 30, 2018 and 2019, respectively) | (97,440 | ) | (113,446 | ) | (15,872 | ) | (244,029 | ) | (343,892 | ) | (48,112 | ) | ||
| General and administrative expenses | (99,412 | ) | (12,590 | ) | (1,761 | ) | (114,249 | ) | (50,433 | ) | (7,056 | ) | ||
| Total operating expenses | (230,223 | ) | (169,200 | ) | (23,672 | ) | (440,696 | ) | (533,634 | ) | (74,658 | ) | ||
| Other income | 1,205 | 13,584 | 1,900 | 1,353 | 16,273 | 2,277 | ||||||||
| (Loss) income from operations | (59,154 | ) | 82,519 | 11,545 | 20,070 | 218,473 | 30,566 | |||||||
| Interest income and investment income (including net interest expense of nil, nil, RMB333 and nil with related parties for the three months ended September 30, 2018 and 2019 and for the nine months ended September 30, 2018 and 2019, respectively) | 2,784 | 2,818 | 394 | 5,443 | 16,527 | 2,312 | ||||||||
| Other non-operating income | - | 446 | 62 | - | 1,312 | 184 | ||||||||
| (Loss) income before income tax expenses | (56,370 | ) | 85,783 | 12,001 | 25,513 | 236,312 | 33,062 | |||||||
| Income tax expenses | (3,465 | ) | (12,456 | ) | (1,743 | ) | (15,057 | ) | (32,720 | ) | (4,578 | ) | ||
| Net (loss) income | (59,835 | ) | 73,327 | 10,258 | 10,456 | 203,592 | 28,484 | |||||||
| Less: Net (loss) income attributable to the non-controlling interest shareholders | (1 | ) | 426 | 60 | (1 | ) | 1,120 | 157 | ||||||
| Net (loss) income attributable to the Company | (59,834 | ) | 72,901 | 10,198 | 10,457 | 202,472 | 28,327 | |||||||
| Accretion of Series A Preferred Shares | (2,235 | ) | - | - | (6,563 | ) | - | - | ||||||
| Cumulative dividend on Series A Preferred Shares | (2,562 | ) | - | - | (7,631 | ) | - | - | ||||||
| Cumulative dividend on Class B Ordinary Shares | (208 | ) | - | - | (620 | ) | - | - | ||||||
| Net (loss) income attributable to ordinary shareholders of the Company | (64,839 | ) | 72,901 | 10,198 | (4,357 | ) | 202,472 | 28,327 | ||||||
VIOMI TECHNOLOGY CO., LTD
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME (CONTINUED)
(All amounts in thousands, except shares, ADS, per share and per ADS data)
| Three Months Ended | Nine Months Ended | ||||||||||||
| September 30, 2018 | September 30, 2019 | September 30, 2019 | September 30, 2018 | September 30, 2019 | September 30, 2019 | ||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | ||||||||
| Net (loss) income attributable to the Company | (59,834 | ) | 72,901 | 10,198 | 10,457 | 202,472 | 28,327 | ||||||
| Other comprehensive (loss) income, net of tax | |||||||||||||
| Foreign currency translation adjustment | (8,399 | ) | 20,255 | 2,834 | (11,419 | ) | 20,587 | 2,880 | |||||
| Total comprehensive (loss) income attributable to the Company | (68,233 | ) | 93,156 | 13,032 | (962 | ) | 223,059 | 31,207 | |||||
| Net (loss) income per ADS* | |||||||||||||
| -Basic | (6.93 | ) | 1.05 | 0.15 | (0.48 | ) | 2.92 | 0.41 | |||||
| -Diluted | (6.93 | ) | 1.01 | 0.14 | (0.48 | ) | 2.82 | 0.39 | |||||
| Weighted average number of ADS used in calculating net income per ADS | |||||||||||||
| -Basic | 9,355,237 | 69,351,625 | 69,351,625 | 9,059,474 | 69,298,127 | 69,298,127 | |||||||
| -Diluted | 9,355,237 | 71,932,384 | 71,932,384 | 9,059,474 | 71,913,887 | 71,913,887 | |||||||
| Net (loss) income per share attributable to ordinary shareholders of the Company | |||||||||||||
| -Basic | (2.31 | ) | 0.35 | 0.05 | (0.16 | ) | 0.97 | 0.14 | |||||
| -Diluted | (2.31 | ) | 0.34 | 0.05 | (0.16 | ) | 0.94 | 0.13 | |||||
| Weighted average number of ordinary shares used in calculating net income per share | |||||||||||||
| -Basic | 28,065,711 | 208,054,876 | 208,054,876 | 27,178,421 | 207,894,380 | 207,894,380 | |||||||
| -Diluted | 28,065,711 | 215,797,153 | 215,797,153 | 27,178,421 | 215,741,660 | 215,741,660 | |||||||
| *Each ADS represents 3 ordinary shares. | |||||||||||||
| (1) Share-based compensation was allocated in operating expenses as follows: | ||||||||
| Three Months Ended | Nine Months Ended | |||||||
| September 30, 2018 | September 30, 2019 | September 30, 2019 | September 30, 2018 | September 30, 2019 | September 30, 2019 | |||
| RMB | RMB | US$ | RMB | RMB | US$ | |||
| General and administrative expenses | 90,992 | 1,818 | 254 | 91,978 | 5,453 | 763 | ||
| Research and development expenses | 4,867 | 5,609 | 785 | 9,095 | 17,146 | 2,399 | ||
| Selling and marketing expenses | 2,725 | 3,106 | 435 | 5,285 | 10,059 | 1,407 | ||
VIOMI TECHNOLOGY CO., LTD
Reconciliations of GAAP and Non-GAAP Results
(All amounts in thousands, except shares, ADS, per share and per ADS data)
| Three Months Ended | Nine Months Ended | ||||||||||||
| September 30, 2018 |
September 30, 2019 |
September 30, 2019 |
September 30, 2018 |
September 30, 2019 |
September 30, 2019 |
||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | ||||||||
| (Loss) income from operations | (59,154 | ) | 82,519 | 11,545 | 20,070 | 218,473 | 30,566 | ||||||
| Share-based compensation expenses | 98,584 | 10,533 | 1,474 | 106,358 | 32,658 | 4,569 | |||||||
| Non-GAAP operating income | 39,430 | 93,052 | 13,019 | 126,428 | 251,131 | 35,135 | |||||||
| Net (loss) income | (59,835 | ) | 73,327 | 10,258 | 10,456 | 203,592 | 28,484 | ||||||
| Share-based compensation expenses | 98,584 | 10,533 | 1,474 | 106,358 | 32,658 | 4,569 | |||||||
| Non-GAAP net income | 38,749 | 83,860 | 11,732 | 116,814 | 236,250 | 33,053 | |||||||
| Net (loss) income attributable to the Company | (59,834 | ) | 72,901 | 10,198 | 10,457 | 202,472 | 28,327 | ||||||
| Share-based compensation expenses | 98,584 | 10,533 | 1,474 | 106,358 | 32,658 | 4,569 | |||||||
| Non-GAAP net income attributable to the Company | 38,750 | 83,434 | 11,672 | 116,815 | 235,130 | 32,896 | |||||||
| Net (loss) income attributable to ordinary shareholders | (64,839 | ) | 72,901 | 10,198 | (4,357 | ) | 202,472 | 28,327 | |||||
| Share-based compensation expenses | 98,584 | 10,533 | 1,474 | 106,358 | 32,658 | 4,569 | |||||||
| Non-GAAP net income attributable to ordinary shareholders | 33,745 | 83,434 | 11,672 | 102,001 | 235,130 | 32,896 | |||||||
| Non-GAAP net income per ADS | |||||||||||||
| -Basic | 3.60 | 1.20 | 0.17 | 11.25 | 3.39 | 0.47 | |||||||
| -Diluted | 2.76 | 1.16 | 0.16 | 8.52 | 3.27 | 0.46 | |||||||
| Weighted average number of ADS used in calculating Non-GAAP net income per ADS | |||||||||||||
| -Basic | 9,355,237 | 69,351,625 | 69,351,625 | 9,059,474 | 69,298,127 | 69,298,127 | |||||||
| -Diluted | 12,181,497 | 71,932,384 | 71,932,384 | 11,962,361 | 71,913,887 | 71,913,887 | |||||||
| Non-GAAP net income per ordinary share | |||||||||||||
| -Basic | 1.20 | 0.40 | 0.06 | 3.75 | 1.13 | 0.16 | |||||||
| -Diluted | 0.92 | 0.39 | 0.05 | 2.84 | 1.09 | 0.15 | |||||||
| Weighted average number of ordinary shares used in calculating Non-GAAP net income per share | |||||||||||||
| -Basic | 28,065,711 | 208,054,876 | 208,054,876 | 27,178,421 | 207,894,380 | 207,894,380 | |||||||
| -Diluted | 36,544,491 | 215,797,153 | 215,797,153 | 35,887,083 | 215,741,660 | 215,741,660 | |||||||
Note: The non-GAAP adjustments do not have any tax impact as share-based compensation expenses are non-deductible for income tax purpose.
Source: Viomi Technology Co., Ltd