Qutoutiao Inc. Reports Fourth Quarter and Fiscal Year 2019 Unaudited Financial Results
by globenewswire 2020-03-19
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Qutoutiao Inc. (“Qutoutiao”, the “Company” or “We”) (NASDAQ: QTT), a leading operator of mobile content platforms in China, today announced its unaudited financial results in the fourth quarter and fiscal year ended December 31, 2019. 


Fourth Quarter 2019 Highlights


Combined average MAUs reached 137.9 million, representing an increase of 46.9% from 93.8 million in the fourth quarter of 2018, compared to 133.9 million in the previous quarter.


Combined average DAUs reached 45.7 million, representing an increase of 47.8% from 30.9 million in the fourth quarter of 2018, compared to 42.1 million in the previous quarter.


Average daily time spent per DAU was 59.4 minutes, compared to 63.0 minutes in the fourth quarter of 2018 and 61.3 minutes in the previous quarter.


Net revenues increased 25.0% year-over-year to RMB1,658.4 million (US$238.2 million), compared to RMB1,406.9 million in the previous quarter, and were above the high end of the Company’s guided range.


Net loss was RMB551.4 million (US$79.2 million), compared to net loss of RMB398.0 million in the fourth quarter of 2018 and net loss of RMB888.4 million in the third quarter of 2019. Net loss margin was 33.2%, compared to 30.0% in the fourth quarter of 2018 and 63.1% in the third quarter of 2019.


Non-GAAP net loss was RMB470.2 million (US$67.5 million), compared to non-GAAP net loss of RMB366.7 million in the fourth quarter of 2018 and non-GAAP net loss of RMB833.1 million in the third quarter of 2019. Non-GAAP net loss margin was 28.4%, compared to 27.6% in the fourth quarter of 2018 and 59.2% in the third quarter of 2019.