Home Trending Stocks Here is why LAIX Inc (LAIX) stock flipped on Wednesday?

Here is why LAIX Inc (LAIX) stock flipped on Wednesday?

LAIX Inc. (LAIX) stock started the Wednesday, May 26, 2021 trading session by losing 3.68 percent and closed the session at $1.57 per share. but in the after-market, LAIX shares jumped 15.29% and closed at $1.81 per share. LAIX shares have fallen 47.67% over the last 12 months, and they have moved up only 0.64% in the past week. Over the past three months, the stock has declined 41.64%, while over the past six months, it has shed 9.25%.

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Let’s have a look at LAIX recent developments.

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Financial results announcement

On May 26, 2021, LAIX Inc announced its unaudited financial results for the first quarter ended March 31, 2021.

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Q1 2021 financial results

  • LAIX reported a net income of RMB12.2 million (US$1.9 million)for the first quarter of 2021 compared to a net loss of RMB197.0 million for the same quarter last year.
  • The gross margin was 77.6%for the first quarter of 2021 compared to 65.5% for Q1 2020.
  • Net revenues for the first quarter of 2021 decreased 13% and were RMB198.5 million (US$30.3 million), compared with RMB228.3 million for the same quarter last year.
  • Sales and marketing expenses were RMB92.9 million (US$14.2 million), compared to RMB264.7 million in Q1 2020.
  • Total operating expenses were RMB145.4 million (US$22.2 million) for Q1 2021, compared to RMB346.1 million for the same quarter in 2020.
  • Operating cash outflow for the first quarter of 2021 was RMB57.3 million (US$8.7 million), compared withRMB99.8 million for the same quarter in 2020.
  • Operating income was RMB12.8 million (US$2.0 million) in Q1 2021, compared with an operating loss of RMB196.5 million in Q1 2020.
  • Adjusted EBITDA was RMB25.3 million (US$3.9 million) in Q1 2021, compared with an adjusted EBITDA loss ofRMB182.5 million for Q1 2020.
  • Basic and diluted net income per ordinary share attributable to ordinary shareholders was RMB0.24 (US$0.04) in Q1 2021, compared with basic and diluted net loss per ordinary share attributable to ordinary shareholders of 99for Q1 2020.
  • LAIX had cash, cash equivalents, restricted cash, and short-term investments totalled 6 million(US$26.3 million) on March 31, 2021, compared with RMB229.6 million on December 31, 2020.

Q4 and FY-2020 financial results announcement

On April 27, 2021, LAIX Inc released its unaudited financial results for the fourth quarter and full-year ended December 31, 2020.

Q4 2020 financial highlights

  • Net revenues were RMB235.5 million (US$36.1 million) in Q4 2020, compared to RMB231.4 million in Q4 2019.
  • The cost of revenues was RMB57.8 million (US$8.9 million in Q4 2020 compared to RMB77.1 million for the same quarter last year.
  • Gross profit was RMB177.6 million (US$27.2 million) in Q4 2020, compared to RMB154.3 million in Q4 2019.
  • Total operating expenses were RMB215.2 million (US$33.0 million) in Q4 2020 compared to RMB367.7 million for Q4 2019.
  • Operating loss was RMB37.6 million (US$5.8 million) in Q4 2020 compared with RMB211.1 million for Q4 2019.
  • Adjusted EBITDA was a loss of RMB21.6 million (US$3.3 million) in Q4 2020, compared with an adjusted EBITDA loss of RMB195.7 million in Q4 2019.
  • Net loss was RMB34.7 million (US$5.3 million) in Q4 2020, compared with RMB205.6 million in Q4 2019.

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Conclusion

The announcement of improved financial results was the reason behind its surging on Wednesday. LAIX can continue its surging in Thursday’s pre-market as well.

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