Viomi Technology Co., Ltd Reports Third Quarter 2022 Unaudited Financial Results – PR Newswire

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GUANGZHOU, China, Nov. 23, 2022 /PRNewswire/ — Viomi Technology Co., Ltd (“Viomi” or the “Company”) (NASDAQ: VIOT), a leading IoT @ Home technology company in China, today announced its unaudited financial results for the third quarter ended September 30, 2022.
Third Quarter 2022 Financial and Operating Highlights
Mr. Xiaoping Chen, Founder and CEO of Viomi, commented, “In the third quarter of 2022, the resurgence of COVID-19 pandemic in China led to increased uncertainties in various means in the macro environment. As a result, the overall market demand remained weak, and our total revenue came in below our expectations. However, despite external challenges, we have made good progress in product innovation, brand promotion and channel expansion over the past few months. Underpinned by our effective, long-term brand and product development strategy, we continued to strengthen our ‘trending technology’ brand positioning.”
“In terms of product innovation and technological development, we held our inaugural annual Scientific and Technological Meeting in August, where we generously rewarded our technological innovation teams and individuals in order to stimulate ongoing R&D innovation. Also, we hosted ‘AI: Helpful 2.0,’ our autumn online software launch event on October 25th, which focused on our software upgrades and product iteration across four dimensions, including health care, energy conservation and environmental protection, active intelligence, and natural interaction, further improving our one-stop IoT home solutions from the software side. At the same time, on the hardware side, we launched a series of new smart home appliances, including Alpha, our AI range hood with AI smart eye suction; Master Pro, our 1200G Quanxian AI water purifier with integrated heat purification; Alpha 3 Pro, our AI sweeping robot equipped with an all-purpose base station; and Super 2 Max, our AI gas water heater with intelligent temperature control. In the category of smart home products, we introduced Super 2 AI smart door locks with an ultra-wide-angle digital peephole. These new products achieved good results and have received broad consumer recognition in their pre-sale and crowdfunding stages. By deeply integrating our software and hardware, we provide richer home use scenarios and more intelligent user experiences, empowering more users to enjoy the convenience and ease of IoT home solutions.”
“On the branding side, in addition to our ongoing elevator and print ad campaigns, we jointly launched a video interview program with Langchao Studio and Gongmao Home Appliances. In this program, we dove deeper into the topic of ‘how the IoT home solution is reshaping the future home of Chinese people’ with Zhang Quanling, senior media specialist and investor, and Li Feng, Chairman of Gongmao Home Appliances. In the interview, ‘Asking about the Whole-Home Intelligence,’ we responded to senior media specialist, Yi Lijing’s questions about smart home development with in-depth information on our one-stop IoT home solution and our four capabilities, four services approach to the smart home. With smart home appliances and smart home products covering all scenarios, we believe more people would now choose to live in smart homes. Given the continuous expansion of the customer base for whole-home intelligence, the industry is approaching an inflection point, and Viomi has taken the lead by completing the hardware and software integration and upgrade necessary to create a truly smart home. We believe our communications with consumers and our explorations of the future of smartification will encourage more consumers to become smart home users.”
“Furthermore, we continued to execute our ‘larger store, better merchant’ channel strategy in the third quarter and opened additional Viomi 4S flagship stores encompassing over 200 to 400 square meters in provinces including Hebei, Anhui, Hubei, and Fujian, among others. Meanwhile, the sales volume of our bundled home solutions increased steadily. With various solution options and prices to meet consumers’ demand, our offline merchants signed whole-home solution orders ranging from tens of thousands to hundreds of thousands of RMB with customers in Hunan, Guangdong, Ningxia and other areas during this quarter. As to our overseas business, in September, we showcased a number of our new products at IFA 2022 in Berlin, marking our first appearance at one of the world’s most significant technology marketplaces for the consumer and electronic industries. We were pleased to receive positive feedback from the European market, helping us to further enrich our overseas product category offerings.”
Mr. Chen concluded, “The uncertain economic environment continued to weigh on our sales during the third quarter. Going forward, we will concentrate on the following three aspects of operation optimization: (i) continuously refine our operational structure and implement disciplined cost control measures; (ii) expand channels and add premium offline merchants while rolling out more product categories in overseas markets; (iii) adhere to our solid development strategy with adequate funding reserves to support our operations. We have already significantly streamlined the number of SKUs and our operational optimization efforts have begun to bear fruit. Moving forward, we will continue to optimize our product portfolio, improve operation efficiency and enhance brand strength to bring long-term value to our users and shareholders.”
Third Quarter 2022 Financial Results
REVENUE
Net revenues were RMB685.8 million (US$96.4 million), compared to RMB1,056.5 million for the third quarter of 2021. Net revenues were below the Company’s previous guidance. The decline was mainly due to the ongoing product portfolio adjustments in some categories, as well as overall weakened consumer spending.
IoT @ Home portfolio. Revenues from IoT @ Home portfolio decreased by 41.6% to RMB376.0 million (US$52.9 million) from RMB643.5 million for the third quarter of 2021. The decline was primarily due to the SKU adjustments for some categories, as well as the complete cutoff of sales of Xiaomi-branded sweeper robots.
Home water solutions. Revenues from home water solutions decreased by 23.6% to RMB119.9 million (US$16.9 million) from RMB157.0 million for the third quarter of 2021. The decline was primarily due to the decreased demand for water purifiers.
Consumables. Revenues from consumables decreased by 11.8% to RMB70.2 million (US$9.9 million) from RMB79.6 million for the third quarter of 2021, which was in line with the decreased demand for water purifiers.
Small appliances and others. Revenues from small appliances and others decreased by 32.2% to RMB119.7 million (US$16.8 million) from RMB176.5 million for the third quarter of 2021, primarily due to the product portfolio adjustment within this category.
GROSS PROFIT
Gross profit was RMB135.9 million (US$19.1 million), compared to RMB239.7 million for the third quarter of 2021. Gross margin was 19.8%, compared to 22.7% for the third quarter of 2021, the decline was primarily due to the temporary increase in the proportion of revenue from products categories with relatively low gross margins.
OPERATING EXPENSES
Total operating expenses decreased by 16.5% to RMB242.5 million (US$34.1 million) from RMB290.3 million for the third quarter of 2021, primarily due to the year-over-year decrease in selling and marketing expenses.
Research and development expenses decreased by 19.1% to RMB66.5 million (US$9.4 million) from RMB82.2 million for the third quarter of 2021, mainly due to the reduced expenses in product development, as well as the decrease in research and development experts and related salaries and expenses.
Selling and marketing expenses decreased by 22.0% to RMB143.1 million (US$20.1 million) from RMB183.4 million for the third quarter of 2021, mainly due to the decrease in sales related expenses and personnel costs.
General and administrative expenses increased by 33.0% to RMB32.9 million (US$4.6 million), compared to RMB24.7 million for the third quarter of 2021, primarily due to the increase in the estimated allowance for accounts and notes receivables recognized in the current period.
LOSS FROM OPERATIONS
Loss from operations was RMB97.2 million (US$13.7 million), compared to loss from operations of RMB38.7 million for the third quarter of 2021.
Non-GAAP operating loss[1] was RMB96.4 million (US$13.6 million), compared to non-GAAP operating loss of RMB31.6 million for the third quarter of 2021.
NET LOSS
Net loss attributable to ordinary shareholders of the Company was RMB79.6 million (US$11.2 million), compared to net loss attributable to ordinary shareholders of the Company of RMB29.3 million for the third quarter of 2021.
Non-GAAP net loss attributable to ordinary shareholders of the Company[2] was RMB78.7 million (US$11.1 million), compared to non-GAAP net loss attributable to ordinary shareholders of the Company of RMB22.2 million for the third quarter of 2021.
[1] “Non-GAAP operating loss” is defined as loss from operation excluding share-based compensation expenses. See “Use of Non-GAAP Measures” and “Reconciliation of GAAP and Non-GAAP Results” included in this press release.
[2] “Non-GAAP net loss attributable to ordinary shareholders of the Company” is defined as net loss attributable to ordinary shareholders of the Company excluding share-based compensation expenses. See “Use of Non-GAAP Measures” and “Reconciliation of GAAP and Non-GAAP Results” included in this press release.
BALANCE SHEET
As of September 30, 2022, the Company had cash and cash equivalents of RMB760.1 million (US$106.9 million), restricted cash of RMB65.0 million (US$9.1 million), short-term deposits of RMB83.7 million (US$11.8 million) and short-term investments of RMB259.5 million (US$36.5 million), compared to RMB587.0 million, RMB35.8 million, nil and RMB828.9 million, respectively, as of December 31, 2021.
Conference Call
The Company’s management will host a conference call at 7:30 a.m. Eastern Time on Wednesday, November 23, 2022 (8:30 p.m. Beijing/Hong Kong time on November 23, 2022) to discuss financial results and answer questions from investors and analysts. Listeners may access the call by dialing:
United States (toll free):
+1 888-346-8982
International:
+1 412-902-4272
Hong Kong (toll free):
800-905-945
Hong Kong:
+852 3018-4992
Mainland China (toll free):
400-120-1203
Conference ID:
1605945
A telephone replay will be available one hour after the call until November 30, 2022 by dialing:
United States:         
+1 877-344-7529
International:
+1 412-317-0088
Replay Access Code:       
1605945
Additionally, a live and archived webcast of the conference call will be available at http://ir.viomi.com.
About Viomi Technology
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 ordinary shareholders of the Company, non-GAAP basic and diluted net income per ordinary share and non-GAAP basic and diluted net income per American depositary share (“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 ordinary shareholders of the Company is net income attributable to ordinary shareholders excluding share-based compensation expenses. Non-GAAP basic and diluted net income per ordinary share is non-GAAP net income attributable to ordinary shareholders divided by weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share. Non-GAAP basic and diluted net income per ADS is non-GAAP net income attributable to ordinary shareholders divided by weighted average number of ADS used in the calculation of non-GAAP basic and diluted net income per ADS. 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. Reconciliations of the Company’s non-GAAP financial measures to the most directly comparable GAAP measures are included at the end of this press release.
Exchange Rate
The Company’s business is primarily conducted in China and the significant majority of revenues generated are denominated in Renminbi (“RMB”). This announcement contains currency conversions of RMB amounts into U.S. dollars (“US$”) solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB7.1135 to US$1.00, the effective noon buying rate for September 30, 2022 as set forth in the H.10 statistical release of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on for September 30, 2022, or at any other rate.
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. Viomi may also make written or oral forward-looking statements in its periodic reports to the United States Securities and Exchange Commission (the “SEC”), 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 Fourth parties. Statements that are not historical facts, including statements about the Company’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: the Company’s growth strategies; the cooperation with Xiaomi, the recognition of the Company’s brand; trends and competition in global IoT-enabled smart home market; development and commercialization of new products, services and technologies; governmental policies and relevant regulatory environment relating to the Company’s industry and/or aspects of the business operations and general economic conditions in China and around the globe, 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 SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Viomi Technology Co., Ltd
Claire Ji
E-mail: [email protected]
The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: [email protected]
In the United States:
The Piacente Group, Inc. 
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]
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,
2021
2022
2022
RMB
RMB
US$
Assets
Current assets
Cash and cash equivalents
586,955
760,145
106,859
Restricted cash
35,831
64,980
9,135
Short-term deposits

83,678
11,763
Short-term investments
828,867
259,524
36,483
Accounts and notes receivable from third parties
   (net of allowance of RMB34,385 and RMB
58,269,
   as of December 31, 2021 and September 30, 2022
,
   respectively)

302,336
307,917
43,286
Accounts receivable from a related party (net of
   allowance of RMB368 and RMB201 as of December
   31, 2021 and September 30, 2022, respectively)

 
 
320,939
222,887
31,333
Other receivables from related parties (net of
   allowance of RMB104 and RMB
18 as of December
   31, 2021 and September 30, 2022
, respectively)
 
 
88,367
20,103
2,826
Inventories
576,351
604,322
84,956
Prepaid expenses and other current assets
156,127
183,339
25,773
Long-term deposits-current portion
50,000


Total current assets
2,945,773
2,506,895
352,414
Non-current assets
Prepaid expenses and other non-current assets
27,321
30,656
4,310
Property, plant and equipment, net
145,993
212,047
29,809
Deferred tax assets
35,304
68,393
9,615
Intangible assets, net
12,176
14,285
2,008
Right-of-use assets, net
18,425
16,568
2,329
Land use rights, net
61,722
60,767
8,542
Long-term deposits-non-current portion
30,000
30,000
4,217
Total non-current assets
330,941
432,716
60,830
Total assets
3,276,714
2,939,611
413,244
Liabilities and shareholders’ equity
Current liabilities
Accounts and notes payable
1,069,108
838,995
117,944
Advances from customers
99,632
109,259
15,359
Amount due to related parties
5,415
5,847
822
Accrued expenses and other liabilities
365,718
288,803
40,600
Income tax payables
43,343
21,613
3,038
Lease liabilities due within one year
11,312
11,816
1,661
Long-term borrowing due within one year

7,928
1,115
Total current liabilities
1,594,528
1,284,261
180,539
Non-current liabilities
Accrued expenses and other liabilities
7,558
8,799
1,236
Long-term borrowing
16,105
97,779
13,746
Lease liabilities
7,596
7,592
1,067
Total non-current liabilities
31,259
114,170
16,049
Total liabilities
1,625,787
1,398,431
196,588
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,
2021
2022
2022
RMB
RMB
US$
Shareholders’ equity
Class A Ordinary Shares (US$0.00001 par value;
   4,800,000,000 shares authorized; 105,516,779
   and
105,104,786 shares issued and outstanding as
   of December 31, 2021 and September 30, 2022
,
   respectively)

 
 
 
6
6
1
Class B Ordinary Shares (US$0.00001 par value;
   150,000,000 shares authorized; 103,214,547 and
   102,854,550 shares issued and outstanding as of
   December 31, 2021 and September 30, 2022
,
   respectively)

 
 
 
6
6
1
Treasury stock
(66,668)
(73,365)
(10,313)
Additional paid-in capital
1,337,281
1,352,289
190,102
Retained earnings
449,900
280,731
39,465
Accumulated other comprehensive loss
(73,120)
(15,926)
(2,240)
Total equity attributable to shareholders of the
   Company

1,647,405
1,543,741
217,016
Non-controlling interests
3,522
(2,561)
(360)
Total shareholders’ equity
1,650,927
1,541,180
216,656
Total liabilities and shareholders’ equity
3,276,714
2,939,611
413,244
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, 2021

September
30, 2022

September
30, 2022

September
30, 2021

September
30, 2022

September
30, 2022

RMB
RMB
US$
RMB
RMB
US$
Net revenues:
A related party
427,307
265,028
37,257
1,746,051
888,784
124,943
Third parties
629,219
420,795
59,154
2,224,971
1,433,398
201,504
Total net revenues
1,056,526
685,823
96,411
3,971,022
2,322,182
326,447
Cost of revenues
(816,797)
(549,896)
(77,303)
(3,114,440)
(1,794,757)
(252,303)
Gross profit
239,729
135,927
19,108
856,582
527,425
74,144
Operating expenses
Research and development expenses
(82,201)
(66,527)
(9,352)
(213,990)
(225,393)
(31,685)
Selling and marketing expenses
(183,364)
(143,081)
(20,114)
(536,165)
(463,730)
(65,190)
General and administrative expenses
(24,716)
(32,877)
(4,622)
(69,690)
(72,753)
(10,227)
Total operating expenses
(290,281)
(242,485)
(34,088)
(819,845)
(761,876)
(107,102)
Other income, net
11,896
9,400
1,321
18,860
16,422
2,309
(Loss) income from operations
(38,656)
(97,158)
(13,659)
55,597
(218,029)
(30,649)
Interest income and short-term investment income, net
2,769
1,086
 
153
18,147
8,323
 
1,170
Other non-operating income
549
632
89
780
1,831
257
(Loss) income before income tax expenses
(35,338)
(95,440)
(13,417)
74,524
(207,875)
(29,222)
Income tax credits (expenses)
6,191
14,271
2,006
(7,878)
32,620
4,586
Net (loss) income
(29,147)
(81,169)
(11,411)
66,646
(175,255)
(24,636)
Less: Net income (loss) attributable to the non-
   controlling interest shareholders

116
(1,598)
(225)
721
(6,083)
(855)
Net (loss) income attributable to ordinary
   shareholders of the Company
 

(29,263)
(79,571)
(11,186)
65,925
(169,172)
(23,781)
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, 2021

September
30, 2022

September
30, 2022

September
30, 2021

September
30, 2022

September
30, 2022

RMB
RMB
US$
RMB
RMB
US$
Net (loss) income attributable to ordinary
   shareholders of the Company

(29,263)
(79,571)
(11,186)
65,925
(169,172)
(23,781)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment
989
31,651
4,449
(4,788)
57,193
8,040
Total comprehensive (loss) income 
   attributable to ordinary shareholders of the Company

(28,274)
(47,920)
(6,737)
61,137
(111,979)
(15,741)
Net (loss) income per ADS*
-Basic
(0.42)
(1.15)
(0.16)
0.94
(2.43)
(0.34)
-Diluted
(0.42)
(1.15)
(0.16)
0.91
(2.43)
(0.34)
Weighted average number of ADS used in
   calculating net income per ADS

-Basic
70,157,419
69,315,182
69,315,182
69,764,294
69,503,202
69,503,202
-Diluted
70,157,419
69,315,182
69,315,182
72,220,572
69,503,202
69,503,202
Net (loss) income per share attributable
   to ordinary shareholders of the Company

-Basic
(0.14)
(0.38)
(0.05)
0.31
(0.81)
(0.11)
-Diluted
(0.14)
(0.38)
(0.05)
0.30
(0.81)
(0.11)
Weighted average number of ordinary shares
   used in calculating net income per share

-Basic
210,472,257
207,945,547
207,945,547
209,292,882
208,509,606
208,509,606
-Diluted
210,472,257
207,945,547
207,945,547
216,661,717
208,509,606
208,509,606
*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, 2021

September
30, 2022

September
30, 2022

September
30, 2021

September
30, 2022

September
30, 2022

RMB
RMB
US$
RMB
RMB
US$
General and administrative expenses
2,584
722
101
6,990
4,312
606
Research and development expenses
6,682
328
46
24,630
9,632
1,354
Selling and marketing expenses
(2,219)
(251)
(35)
5,005
829
117
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, 2021

September
30, 2022

September 30,
2022
September 30,
2021
September 30,
 2022
September 30,
2022
RMB
RMB
US$
RMB
RMB
US$
(Loss) income from operations
(38,656)
(97,158)
(13,659)
55,597
(218,029)
(30,649)
Share-based compensation expenses
7,047
799
112
36,625
14,773
2,077
Non-GAAP operating (loss) income
(31,609)
(96,359)
(13,547)
92,222
(203,256)
(28,572)
Net (loss) income
(29,147)
(81,169)
(11,411)
66,646
(175,255)
(24,636)
Share-based compensation expenses
7,047
799
112
36,625
14,773
2,077
Non-GAAP net (loss) income
(22,100)
(80,370)
(11,299)
103,271
(160,482)
(22,559)
Net (loss) income attributable to ordinary shareholders
   of the Company

(29,263)
(79,571)
(11,186)
65,925
(169,172)
(23,781)
Share-based compensation expenses
7,047
799
112
36,625
14,773
2,077
Non-GAAP net (loss) income attributable to
   ordinary shareholders of the Company

(22,216)
(78,772)
(11,074)
102,550
(154,399)
(21,704)
Non-GAAP net (loss) income per ADS
-Basic
(0.32)
(1.14)
(0.16)
1.47
(2.22)
(0.31)
-Diluted
(0.32)
(1.14)
(0.16)
1.42
(2.22)
(0.31)
Weighted average number of ADS used in calculating
   Non-GAAP net income per ADS

-Basic
70,157,419
69,315,182
69,315,182
69,764,294
69,503,202
69,503,202
-Diluted
70,157,419
69,315,182
69,315,182
72,220,572
69,503,202
69,503,202
Non-GAAP net loss (income) per ordinary share
-Basic
-Diluted
(0.11)
(0.38)
(0.05)
0.49
(0.74)
(0.10)
(0.11)
(0.38)
(0.05)
0.47
(0.74)
(0.10)
Weighted average number of ordinary shares used in
   calculating Non-GAAP net income per share

-Basic
210,472,257
207,945,547
207,945,547
209,292,882
208,509,606
208,509,606
-Diluted
210,472,257
207,945,547
207,945,547
216,661,717
208,509,606
208,509,606
Note: The non-GAAP adjustments does not have any tax impact as share-based compensation expenses are non-deductible for income tax purpose.
SOURCE Viomi Technology Co., Ltd
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