$GSMG Glory Star New Media Group Holdings Limited Announces Second Quarter and Half Year 2020 Unaudited Financial Results
Beijing, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG, GSMGW) (“Glory Star” or the “Company”), a leading mobile and online digital media and entertainment company in China, today announced its financial results for the second quarter and half year ended June 30, 2020.
Second Quarter and Half Year 2020 Key Metrics Highlights
Downloads of the CHEERS App1 exceeded 121.0 million as of June 30, 2020, compared to 35.5 million as of June 30, 2019.
Average daily active users (“DAUs”)2 of the CHEERS App increased to 4.9 million for the three months ended June 30, 2020 from 1.0 million in the same period of 2019. DAUs of CHEERS App increased to 4.5 million for the six months ended June 30, 2020 from 0.7 million in the same period of 2019.
Stock Keeping Units (“SKUs”) carried in the Company’s e-Mall were 19,984 as of June 30, 2020, compared to 3,000 as of June 30, 2019.
Gross Merchandise Value (GMV)3 in the three month ended June 30, 2020 was over $14.1 million, compared to $1.0 million in the same period of 2019. GMVs in the six months ended June 30, 2020 was approximately $20.0 million, compared to $1.0 million in the same period of 2019.
Second Quarter and Half Year 2020 Financial Highlights
Total revenues in the second quarter of 2020 increased by 6.3% to $19.7 million as compared to $18.5 million in the same quarter of 2019. For the first half of 2020, total revenues decreased by 8.8% to $29.4 million, compared to $32.2 million in the same period of 2019.
Total operating expenses in the second quarter of 2020 decreased by 7.2% to $11.1 million as compared to $11.9 million in the same quarter of 2019. For the first half of 2020, total operating expenses decreased by 15.5% to $17.9 million, compared to $21.2 million in the same period of 2019.
Income from operations in the second quarter of 2020 increased by 30.7% to $8.6 million as compared to $6.6 million in the same quarter of 2019. For the first half of 2020, income from operations increased by 4.2% to $11.5 million, compared to $11.0 million in the same period of 2019.
Non-GAAP income from operations4 in the second quarter of 2020 increased by 68.9% to $11.1 million as compared to $6.6 million in the same quarter of 2019. For the first half of 2020, non-GAAP income from operations increased by 27.7% to $14.1 million, compared to $11.0 million in the same period of 2019.
Net income attributable to ordinary shareholders in the second quarter of 2020 increased by 37.4% to $9.1 million as compared to $6.6 million in the same quarter of 2019. For the first half of 2020, net income attributable to ordinary shareholders increased by 11.5% to $12.0 million, compared to $10.7 million in the same period of 2019.
Non-GAAP net income attributable to ordinary shareholders5 in the second quarter of 2020 increased by 75.4% to $11.6 million as compared to $6.6 million in the same quarter of 2019. For the first half of 2020, non-GAAP net income attributable to ordinary shareholders increased by 35.5% to $14.6 million, compared to $10.7 million in the same period of 2019.
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Glory Star defines this metric as the total number of downloads of the CHEERS App as of the end of the period.
Glory Star defines daily active users, or DAUs, as a user who has logged in or access Glory Star’s online video content and/or its e-commerce platform using the CHEERS App, whether on a mobile phone or tablet. Glory Star calculates DAUs using internal company data based on the activity of the user account and as adjusted to remove “duplicate” accounts.
Glory Star defines gross merchandise value, or GMV, as the total value of all orders for products and services placed in our online direct sales business and on our online marketplaces, regardless of whether the goods are sold or delivered or whether the goods are returned.
Non-GAAP income from operations is defined as income from operations excluding share-based compensation expenses. See “Glory Star New Media Group Holdings Limited Reconciliation of GAAP and Non-GAAP results” set forth at the end of this press release.
Non-GAAP net income attributable to ordinary shareholders is defined as net income attributable to ordinary shareholders excluding share-based compensation expenses. See “Glory Star New Media Group Holdings Limited Reconciliation of GAAP and Non-GAAP results” set forth at the end of this press release.
https://finance.yahoo.com/news/glory-star-med...00764.html
Beijing, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG, GSMGW) (“Glory Star” or the “Company”), a leading mobile and online digital media and entertainment company in China, today announced its financial results for the second quarter and half year ended June 30, 2020.
Second Quarter and Half Year 2020 Key Metrics Highlights
Downloads of the CHEERS App1 exceeded 121.0 million as of June 30, 2020, compared to 35.5 million as of June 30, 2019.
Average daily active users (“DAUs”)2 of the CHEERS App increased to 4.9 million for the three months ended June 30, 2020 from 1.0 million in the same period of 2019. DAUs of CHEERS App increased to 4.5 million for the six months ended June 30, 2020 from 0.7 million in the same period of 2019.
Stock Keeping Units (“SKUs”) carried in the Company’s e-Mall were 19,984 as of June 30, 2020, compared to 3,000 as of June 30, 2019.
Gross Merchandise Value (GMV)3 in the three month ended June 30, 2020 was over $14.1 million, compared to $1.0 million in the same period of 2019. GMVs in the six months ended June 30, 2020 was approximately $20.0 million, compared to $1.0 million in the same period of 2019.
Second Quarter and Half Year 2020 Financial Highlights
Total revenues in the second quarter of 2020 increased by 6.3% to $19.7 million as compared to $18.5 million in the same quarter of 2019. For the first half of 2020, total revenues decreased by 8.8% to $29.4 million, compared to $32.2 million in the same period of 2019.
Total operating expenses in the second quarter of 2020 decreased by 7.2% to $11.1 million as compared to $11.9 million in the same quarter of 2019. For the first half of 2020, total operating expenses decreased by 15.5% to $17.9 million, compared to $21.2 million in the same period of 2019.
Income from operations in the second quarter of 2020 increased by 30.7% to $8.6 million as compared to $6.6 million in the same quarter of 2019. For the first half of 2020, income from operations increased by 4.2% to $11.5 million, compared to $11.0 million in the same period of 2019.
Non-GAAP income from operations4 in the second quarter of 2020 increased by 68.9% to $11.1 million as compared to $6.6 million in the same quarter of 2019. For the first half of 2020, non-GAAP income from operations increased by 27.7% to $14.1 million, compared to $11.0 million in the same period of 2019.
Net income attributable to ordinary shareholders in the second quarter of 2020 increased by 37.4% to $9.1 million as compared to $6.6 million in the same quarter of 2019. For the first half of 2020, net income attributable to ordinary shareholders increased by 11.5% to $12.0 million, compared to $10.7 million in the same period of 2019.
Non-GAAP net income attributable to ordinary shareholders5 in the second quarter of 2020 increased by 75.4% to $11.6 million as compared to $6.6 million in the same quarter of 2019. For the first half of 2020, non-GAAP net income attributable to ordinary shareholders increased by 35.5% to $14.6 million, compared to $10.7 million in the same period of 2019.
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Glory Star defines this metric as the total number of downloads of the CHEERS App as of the end of the period.
Glory Star defines daily active users, or DAUs, as a user who has logged in or access Glory Star’s online video content and/or its e-commerce platform using the CHEERS App, whether on a mobile phone or tablet. Glory Star calculates DAUs using internal company data based on the activity of the user account and as adjusted to remove “duplicate” accounts.
Glory Star defines gross merchandise value, or GMV, as the total value of all orders for products and services placed in our online direct sales business and on our online marketplaces, regardless of whether the goods are sold or delivered or whether the goods are returned.
Non-GAAP income from operations is defined as income from operations excluding share-based compensation expenses. See “Glory Star New Media Group Holdings Limited Reconciliation of GAAP and Non-GAAP results” set forth at the end of this press release.
Non-GAAP net income attributable to ordinary shareholders is defined as net income attributable to ordinary shareholders excluding share-based compensation expenses. See “Glory Star New Media Group Holdings Limited Reconciliation of GAAP and Non-GAAP results” set forth at the end of this press release.
https://finance.yahoo.com/news/glory-star-med...00764.html
