UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of August 2024

 

 

 

Commission File Number: 001-38587

 

 

 

Aurora Mobile Limited

 

14/F, China Certification and Inspection Building

No. 8, Keji South 12th Road, Nanshan District

Shenzhen, Guangdong 518057

People’s Republic of China

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F   x           Form 40-F    ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):¨

 

 

 

 

 

 

EXHIBIT INDEX

 

Exhibit No.   Description
99.1   Press Release

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  AURORA MOBILE LIMITED
       
  By  : /s/ Shan-Nen Bong
  Name : Shan-Nen Bong
  Title : Chief Financial Officer

 

Date: August 30, 2024

 

 

 

Exhibit 99.1

 

Aurora Mobile Limited Announces Second Quarter 2024

 

Unaudited Financial Results

 

SHENZHEN, CHINA, August 29, 2024 – Aurora Mobile Limited (“Aurora Mobile” or the “Company”) (NASDAQ: JG), a leading provider of customer engagement and marketing technology services in China, today announced its unaudited financial results for the second quarter ended June 30, 2024.

 

Second Quarter 2024 Financial Highlights

 

·Revenues were RMB79.4 million (US$10.9 million), an increase of 8% year-over-year.

 

·Cost of revenues was RMB26.7 million (US$3.7 million), an increase of 4% year-over-year.

 

·Gross profit was RMB52.8 million (US$7.3 million), an increase of 11% year-over-year.

 

·Total operating expenses were RMB54.8 million (US$7.5 million), a decrease of 15% year-over-year.

 

·Net loss was RMB1.3 million (US$0.2 million), compared with a net loss of RMB23.7 million for the same quarter last year.

 

·Net loss attributable to Aurora Mobile Limited’s shareholders was RMB1.0 million (US$0.1 million), compared with a net loss attributable to Aurora Mobile Limited’s shareholders of RMB23.0 million for the same quarter last year.

 

·Adjusted net loss (non-GAAP) was RMB0.4 million (US$54 thousand), compared with a RMB8.9 million adjusted net loss for the same quarter last year.

 

·Adjusted EBITDA (non-GAAP) was at positive RMB1.6 million (US$0.2 million), compared with a negative RMB4.6 million for the same quarter last year.

 

Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, “The appropriate description for the performance of this quarter is “Riding on the Great Growth Momentum”. The reasons for this description are as follows:

 

·Firstly, continuing the great Q1’2024 momentum, we recorded the 4th consecutive positive Adjusted EBITDA in this quarter. This is an historical achievement for us since IPO in 2018.

 

·Secondly, Developer Subscription revenue recorded both a 14% growth quarter-over-quarter and a 19% growth year-over-year.

 

·Thirdly, our gross profit recorded good growth for both year-over-year and quarter-over-quarter.

 

·Fourthly, our net loss has narrowed by 50% quarter-over-quarter and 95% year-over-year.”

 

Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, “We have had a great quarter. Our total group revenue grew both quarter-over-quarter and year-over-year with 23% and 8%, respectively. Subscription Services revenues of RMB48.1 million were showing great growth where it grew by 14% quarter-over-quarter and 19% year-over-year, driven by growth in EngageLab business and improvement in ARPU. Value-added services revenues increased by 245% quarter-over-quarter which was due to the 6/18 online shopping festival in Q2 where online advertisers have increased their ads spending. Overall Vertical applications revenues had recorded a great quarter where revenue grew by 16% quarter-over-quarter and 8% year-over-year. This was driven by Financial Risk Management where its revenue grew by 28% quarter-over-quarter and 34% year-over-year fueled by a strong 30% customer number growth.

 

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With strong and solid revenue growth while maintaining optimal level of operating expenses, for the quarter ended June 30, 2024, we recorded yet another positive Adjusted EBITDA. This is an historical event where we now have 4 consecutive quarters of positive Adjusted EBITDA.”

 

Second Quarter 2024 Financial Results

 

Revenues were RMB79.4 million (US$10.9 million), an increase of 8% from RMB73.3 million in the same quarter of last year, attributable to an 8% increase in revenue from both Developer Services and Vertical Applications.

 

Cost of revenues was RMB26.7 million (US$3.7 million), an increase of 4% from RMB25.6 million in the same quarter of last year. The increase was mainly due to a RMB2.1 million increase in short messaging cost and a RMB0.9 million increase in other direct costs, and offset by a RMB2.4 million decrease in media cost.

 

Gross profit was RMB52.8 million (US$7.3 million), an increase of 11% from RMB47.7 million in the same quarter of last year.

 

Total operating expenses were RMB54.8 million (US$7.5 million), a decrease of 15% from RMB64.1 million in the same quarter of last year.

 

·Research and development expenses were RMB23.7 million (US$3.3 million), a decrease of 22% from RMB30.2 million in the same quarter of last year, mainly due to a RMB4.2 million decrease in personnel costs, a RMB3.4 million decrease in bandwidth cost, and a RMB1.8 million decrease in depreciation expense. The impact is partially offset by a RMB4.0 million increase in cloud cost.

 

·Sales and marketing expenses were RMB20.5 million (US$2.8 million), an increase of 2% from RMB20.0 million in the same quarter of last year, mainly due to a RMB0.3 million increase in personnel costs.

 

·General and administrative expenses were RMB10.7 million (US$1.5 million), a decrease of 23% from RMB13.9 million in the same quarter of last year, mainly due to a RMB3.3 million decrease in personnel costs.

 

Loss from operations was RMB1.0 million (US$0.1 million), compared with RMB14.8 million in the same quarter of last year.

 

Net Loss was RMB1.3 million (US$0.2 million), compared with RMB23.7 million in the same quarter of last year.

 

Adjusted net loss (non-GAAP) was RMB0.4 million (US$54 thousand), compared with RMB8.9 million in the same quarter of last year.

 

Adjusted EBITDA (non-GAAP) was at positive RMB1.6 million (US$0.2 million) compared with a negative RMB4.6 million for the same quarter of last year.

 

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The cash and cash equivalents and restricted cash were RMB92.7 million (US$12.8 million) as of June 30, 2024 compared with RMB115.0 million as of December 31, 2023.

 

Update on Share Repurchase

 

As of June 30, 2024, the Company had repurchased a total of 216,643 ADS, of which 11,626 ADSs, or around US$36.1 thousand were repurchased during the second quarter in 2024.

 

Conference Call

 

The Company will host an earnings conference call on Thursday, August 29, 2024 at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Beijing time on the same day).

 

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:

https://register.vevent.com/register/BIdc3f18de42e247d3a31f621244e171b9

 

A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile’s website at https://ir.jiguang.cn/.

 

Use of Non-GAAP Financial Measures

 

In 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 and impairment of long-term investments. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, amortization of land use right, income tax expenses/(benefits), share-based compensation, reduction in force charges and impairment of long-term investments.

 

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.

 

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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 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 Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its 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 business model; its ability to 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 Limited

 

Founded in 2011, Aurora Mobile is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises' digital transformation.

 

For more information, please visit https://ir.jiguang.cn/.

 

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For investor and media inquiries, please contact:

 

Aurora Mobile Limited

 

ir@jiguang.cn

 

Christensen

 

In China

Ms. Xiaoyan Su 

Phone: +86-10-5900-1548 

E-mail: Xiaoyan.Su@christensencomms.com

 

In U.S. 

Ms. Linda Bergkamp 

Phone: +1-480-614-3004 

Email: linda.bergkamp@christensencomms.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 RMB7.2672 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 June 28, 2024.

 

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AURORA MOBILE LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share data)
                             
   Three months ended   Six months ended 
   June 30, 2023   March 31, 2024   June 30, 2024   June 30, 2023   June 30, 2024 
   RMB   RMB   RMB   US$   RMB   RMB   US$ 
Revenues   73,331    64,524    79,441    10,931    138,764    143,965    19,810 
Cost of revenues   (25,620)   (18,152)   (26,670)   (3,670)   (45,061)   (44,822)   (6,168)
Gross profit   47,711    46,372    52,771    7,261    93,703    99,143    13,642 
Operating expenses                                   
Research and development   (30,243)   (22,681)   (23,652)   (3,255)   (61,924)   (46,333)   (6,376)
Sales and marketing   (20,009)   (17,391)   (20,478)   (2,818)   (38,899)   (37,869)   (5,211)
General and administrative   (13,873)   (12,932)   (10,677)   (1,469)   (28,146)   (23,609)   (3,249)
Total operating expenses   (64,125)   (53,004)   (54,807)   (7,542)   (128,969)   (107,811)   (14,836)
Other operating income(1)   1,572    1,579    1,055    145    4,329    2,634    362 
Loss from operations   (14,842)   (5,053)   (981)   (136)   (30,937)   (6,034)   (832)
Foreign exchange (loss)/gain, net   (118)   (23)   12    2    (93)   (11)   (2)
Interest income   354    2,187    195    27    684    2,382    328 
Interest expenses   (218)   (6)   (42)   (6)   (441)   (48)   (7)
Other (loss)/income   (9,086)   15    (20)   (3)   (8,527)   (5)   (1)
Change in fair value of structured deposits   -    23    15    2    13    38    5 
Loss before income taxes   (23,910)   (2,857)   (821)   (114)   (39,301)   (3,678)   (509)
Income tax benefits/(expenses)   179    244    (483)   (66)   329    (239)   (33)
Net loss   (23,731)   (2,613)   (1,304)   (180)   (38,972)   (3,917)   (542)
Less: net loss attributable to noncontrolling interests and redeemable noncontrolling interests   (715)   (214)   (304)   (42)   (890)   (518)   (71)
Net loss attributable to Aurora Mobile Limited’s shareholders   (23,016)   (2,399)   (1,000)   (138)   (38,082)   (3,399)   (471)
Net loss per share, for Class A and Class B common shares:                                   
Class A and B Common Shares - basic and diluted   (0.29)   (0.03)   (0.01)   (0.00)   (0.48)   (0.04)   (0.01)
Shares used in net loss per share computation:                                   
Class A Common Shares - basic and diluted   62,943,573    62,687,345    62,603,736    62,603,736    62,855,277    62,645,540    62,645,540 
Class B Common Shares - basic and diluted   17,000,189    17,000,189    17,000,189    17,000,189    17,000,189    17,000,189    17,000,189 
Other comprehensive income                                   
Foreign currency translation adjustments   2,787    78    208    29    1,983    286    39 
Total other comprehensive income, net of tax   2,787    78    208    29    1,983    286    39 
Total comprehensive loss   (20,944)   (2,535)   (1,096)   (151)   (36,989)   (3,631)   (503)
Less: comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interests   (715)   (214)   (304)   (42)   (890)   (518)   (71)
Comprehensive loss attributable to Aurora Mobile Limited’s shareholders   (20,229)   (2,321)   (792)   (109)   (36,099)   (3,113)   (432)

 

(1) Beginning on January 1, 2024 we classified the government grants that are operating in nature as other operating income. Comparative figures were reclassified to conform to this presentation.

 

 

 

 

AURORA MOBILE LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
             
   As of 
   December 31, 2023   June 30, 2024 
   RMB   RMB   US$ 
ASSETS               
Current assets:               
Cash and cash equivalents   114,521    92,178    12,684 
Restricted cash   486    505    69 
Accounts receivable   34,344    43,132    5,935 
Prepayments and other current assets   20,225    20,796    2,863 
Total current assets   169,576    156,611    21,551 
Non-current assets:               
Long-term investments   112,912    113,160    15,571 
Property and equipment, net   1,433    1,061    146 
Operating lease right-of-use assets   4,081    3,550    488 
Intangible assets, net   17,941    15,801    2,174 
Goodwill   37,785    37,785    5,199 
Deferred tax assets   1,072    580    80 
Other non-current assets   5,387    6,517    898 
Total non-current assets   180,611    178,454    24,556 
Total assets   350,187    335,065    46,107 
LIABILITIES AND SHAREHOLDERS’ EQUITY               
Current liabilities:               
Short-term loan   -    3,000    413 
Accounts payable   21,073    26,639    3,666 
Deferred revenue and customer deposits   141,518    135,137    18,595 
Operating lease liabilities   4,007    2,767    381 
Accrued liabilities and other current liabilities   74,682    60,694    8,352 
Total current liabilities   241,280    228,237    31,407 
Non-current liabilities:               
Operating lease liabilities   629    1,004    138 
Deferred tax liabilities   3,994    3,643    501 
Other non-current liabilities   563    567    78 
Total non-current liabilities   5,186    5,214    717 
Total liabilities   246,466    233,451    32,124 
Shareholders’ equity:               
Common shares   50    50    7 
Treasury shares   (2,453)   (835)   (115)
Additional paid-in capital   1,045,397    1,045,303    143,838 
Accumulated deficit   (988,669)   (992,068)   (136,513)
Accumulated other comprehensive income   19,223    19,509    2,685 
Total Aurora Mobile Limited’s shareholders’ equity   73,548    71,959    9,902 
Noncontrolling interests   30,173    29,655    4,081 
Total shareholders’ equity   103,721    101,614    13,983 
Total liabilities and shareholders’ equity   350,187    335,065    46,107 

 

 

 

 

AURORA MOBILE LIMITED
RECONCILIATION OF GAAP AND NON-GAAP RESULTS
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
                             
   Three months ended   Six months ended 
   June 30, 2023   March 31,2024   June 30, 2024   June 30, 2023   June 30, 2024 
   RMB   RMB   RMB   US$   RMB   RMB   US$ 
Reconciliation of Net Loss to Adjusted Net Loss:                                   
Net loss   (23,731)   (2,613)   (1,304)   (180)   (38,972)   (3,917)   (542)
Add:                                   
Share-based compensation   4,168    1,268    913    126    7,206    2,181    300 
Reduction in force charges   1,051    -    -    -    1,739    -    - 
Impairment of long-term investment   9,660    -    -    -    9,660    -    - 
Adjusted net loss   (8,852)   (1,345)   (391)   (54)   (20,367)   (1,736)   (242)
Reconciliation of Net Loss to Adjusted EBITDA:                                   
Net loss   (23,731)   (2,613)   (1,304)   (180)   (38,972)   (3,917)   (542)
Add:                                   
Income tax (benefits)/expenses   (179)   (244)   483    66    (329)   239    33 
Interest expenses   218    6    42    6    441    48    7 
Depreciation of property and equipment   1,799    380    371    51    3,985    751    103 
Amortization of intangible assets   1,589    1,369    1,115    153    3,195    2,484    342 
Amortization of land use right   811    -    -    -    994    -    - 
EBITDA   (19,493)   (1,102)   707    96    (30,686)   (395)   (57)
Add:                                   
Share-based compensation   4,168    1,268    913    126    7,206    2,181    300 
Reduction in force charges   1,051    -    -    -    1,739    -    - 
Impairment of long-term investment   9,660    -    -    -    9,660    -    - 
Adjusted EBITDA   (4,614)   166    1,620    222    (12,081)   1,786    243 

 

 

 

 

AURORA MOBILE LIMITED
UNAUDITED SAAS BUSINESSES REVENUE
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
                             
   Three months ended   Six months ended 
   June 30, 2023   March 31, 2024   June 30, 2024   June 30, 2023   June 30, 2024 
   RMB   RMB   RMB   US$   RMB   RMB   US$ 
Developer Services   52,072    44,749    56,406    7,762    97,537    101,155    13,920 
Subscription   40,526    42,351    48,124    6,622    78,034    90,475    12,450 
Value-Added Services   11,546    2,398    8,282    1,140    19,503    10,680    1,470 
Vertical Applications   21,259    19,775    23,035    3,169    41,227    42,810    5,890 
Total Revenue   73,331    64,524    79,441    10,931    138,764    143,965    19,810 
Gross Profits   47,711    46,372    52,771    7,261    93,703    99,143    13,642 
Gross Margin   65.1%   71.9%   66.4%   66.4%   67.5%   68.9%   68.9%

 

 

 

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