MOGU Inc. Q3 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

  • Live Video Broadcasting (LVB) Growth: LVB GMV increased 99.5% year-over-year (YoY) to RMB 3.4 billion in Q3 FY2020. Its share of overall GMV rose to 53%, up from 39% last quarter and more than double the previous year’s 25% level.
  • User Metrics: LVB Monthly Active Users (MAUs) grew 132.7% YoY. LVB active buyers in the 12 months ended December 31, 2019, increased 32.4% YoY. Broadcast hours increased to 3,800 hours/day in December 2019 from 3,400 in September 2019.
  • Total GMV: Total platform GMV increased 8% YoY.
  • Revenue: Total revenue was RMB 269.5 million, down 26.6% YoY due to a shift in business strategy from traditional marketplace to LVB focus.
    • Commission revenue: RMB 141.2 million (-19.6% YoY).
    • Marketing services revenue: RMB 72.5 million (-45% YoY).
    • Other revenue: RMB 56 million (-7.3% YoY).
  • Costs and Expenses:
    • Cost of revenue: RMB 98.3 million, down slightly YoY.
    • Sales & Marketing: RMB 209.3 million, up 2.2% YoY.
    • R&D: RMB 32 million, down 42.3% YoY due to headcount reduction.
    • G&A: RMB 40.7 million, down 15% YoY.
    • Amortization of Intangibles: RMB 103 million, up 64% YoY due to Tencent partnership recognition.

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Operator: Ladies and gentlemen, thank you for standing by, and welcome to the MOGU Third Quarter Fiscal Year 2020 Earnings Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded. [Operator Instructions] I would now like to hand the conference over to your speaker today, Mr. Sean Zhang. IR Director of MOGU Inc. Thank you. Please go ahead sir. Sean Zhang: Thank you, Chris. Hello, everyone, and thank you for joining us today. MOGU’s earnings release was distributed earlier today and is available on the IR website at ir.mogu-inc.com as well as on Business Wire services. Before we begin, I’d like to remind you that this conference call contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 as amended and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon management’s current expectation and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties or other factors, all of which are difficult to predict and many of which are beyond the company’s control, which may cause the company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the company’s filings with the U.S. Securities and Exchange Commission. The com

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