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%.
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.
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.