CooTek Announces Fourth Quarter and Full Year 2021 Unaudited Results – Benzinga – Press Release

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SHANGHAI, March 15, 2022 /PRNewswire/ — CooTek (Cayman) Inc. CTK (“CooTek” or the “Company”), a global mobile internet company, today reported unaudited financial results for the fourth quarter ended December 31, 2021.

Fourth Quarter 2021 Highlights

  • Net revenues were US$53.0 million, a decrease of 48% from US$102.4 million during the same period last year.
  • Gross profit was US$47.0 million, a decrease of 51% from US$95.4 million during the same period last year.
  • Gross profit margin was 88.7%, compared with 93.1% during the same period last year.
  • Net loss was US$0.3 million, compared with net loss of US$0.4 million last quarter, and net loss of US$18.8 million during the same period last year.
  • Adjusted net income[1] (Non-GAAP) was US$0.5 million, compared with adjusted net income (Non-GAAP) of US$0.4 million last quarter, and adjusted net loss (Non-GAAP) of US$17.3 million during the same period last year.
  • The Company’s Portfolio Products[2] contributed approximately 99% of total revenues, with a focus on three main categories: online literature, mobile games and scenario-based content apps.

Full Year 2021 Highlights

  • Net revenue was US$272.1 million, a decrease of 38% from US$441.5 million in 2020.
  • Gross profit was US$239.3 million, a decrease of 43% from US$417.4 million in 2020.
  • Gross profit margin was 87.9%, compared with 94.5% in 2020.
  • Net loss was US$13.9 million, compared with net loss of US$47.4 million last year.
  • Adjusted net loss (Non-GAAP) was US$10.2 million, compared with adjusted net loss (Non-GAAP) of US$42.0 million in 2020.

December 2021 Operational Highlights

  • Average daily active users (“DAUs”) of the Company’s portfolio products were 18.5 million, a decrease of 33% from 27.8 million in December 2020. Monthly active users (“MAUs”) of the Company’s portfolio products were 62.6 million, a decrease of 27% from 85.8 million in December 2020.
  • Average DAUs of the Company’s online literature products were 4.2 million, a decrease of 59% from 10.2 million…

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