omniture

36Kr Holdings Inc. Reports Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results

2024-03-28 17:00 2884

BEIJING, March 28, 2024 /PRNewswire/ -- 36Kr Holdings Inc. ("36Kr" or the "Company" or "We") (NASDAQ: KRKR), a prominent brand and a pioneering platform dedicated to serving New Economy participants in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023.

Fourth Quarter 2023 Highlights

  • Number of followers[1] as of December 31, 2023, reached 32.7 million, an increase of 14.2% from 28.7 million as of December 31, 2022.
  • Total revenues increased by 7.0% to RMB103.3 million (US$14.6 million) in the fourth quarter of 2023, from RMB96.6 million in the same period of 2022.
  • Revenues from online advertising services increased by 10.2% to RMB68.6 million (US$9.7million) in the fourth quarter of 2023, from RMB62.2 million in the same period of 2022.
  • Revenues from enterprise value-added services increased by 3.6% to RMB26.3million (US$3.7 million) in the fourth quarter of 2023, compared to RMB25.4 million in the same period of 2022.
  • Gross profit increased by 17.6% to RMB57.6 million (US$8.1 million) in the fourth quarter of 2023, from RMB48.9 million in the same period of 2022. Gross profit margin was 55.7% in the fourth quarter of 2023, up from 50.7% in the same period of 2022.

[1] "Number of followers" refers to the aggregate number of followers across the official accounts we own and/or operate on various social media and online platforms, including but not limited to Weixin, Weibo, Zhihu, Toutiao, Xinhua Net, Douyin and Bilibili.

 

Fiscal Year 2023 Highlights

  • Total revenues increased by 5.5% to RMB340.2 million (US$47.9 million) in fiscal year 2023, from RMB322.5 million in the prior year.
  • Revenues from online advertising services increased by 7.7% to RMB238.7 million (US$33.6 million) in fiscal year 2023, from RMB221.6 million in the prior year.
  • Revenues from subscription services increased by 21.1% to RMB34.2 million (US$4.8 million) in fiscal year 2023, from RMB28.2 million in the prior year.

Selected Operating Data




For the Fiscal Year Ended

December 31,



2022


2023

Online advertising services





Number of online advertising services end customers


532


488

Average revenue per online advertising services end customer (RMB'000)[2]


416.6


489.1






Enterprise value-added services





Number of enterprise value-added services end customers


252


306

Average revenue per enterprise value-added services end customer (RMB'000)[3]


288.3


219.9






Subscription services





Number of individual subscribers


437


46

Average revenue per individual subscriber (RMB)[4]


1,643.5


143,091






Number of institutional investors


217


185

Average revenue per institutional investor (RMB'000)[5]


126.8


149.2






Mr. Dagang Feng, Co-chairman and CEO of 36Kr, commented, "We concluded 2023 on a high note despite the prevailing macroeconomic uncertainties, delivering 5.5% year-over-year topline growth. The solid performance was driven by our peerless content creation prowess, vibrant user community as well as diversified product and service offerings. As of the end of 2023, our number of followers exceeded 32.7 million, growing 14% year-over-year and marking our 11th consecutive quarter of growth. 2023 also ushered in the era of Generative AI, a revolutionary technology shift that is reshaping not only the content generation sector but also the wider industry landscape. Harnessing this technology wave, we pioneered visionary AI applications to further strengthen our content ecosystem and commercialization efficiency. Heading into 2024, as a media frontrunner and leading full-service platform in the New Economy sector, we will remain focused on enhancing our content creation and expanding our product and service spectrum, while also further leveraging AI technology as an advanced tool to empower the high-quality growth trajectory of New Economy enterprises in the long term."

Ms. Lin Wei, Chief Financial Officer of 36Kr, added, "We are pleased to report solid financial results for fiscal year 2023 against the backdrop of various external challenges. Our total revenues increased year-over-year for both the fourth quarter and the full year, up 7% and 5.5%, respectively. Moreover, our gross margin remained above 55% for the fourth quarter and above 50% for the full year 2023 as we continued to refine our cost structure and adopt AI technology to improve operational efficiency. Looking ahead to 2024, we will further integrate cutting-edge technologies across the Company's operations to amplify our core competitive advantages, boost our business growth and create enduring value for all stakeholders."

[2] Equals revenues generated from online advertising services for a period divided by the number of online advertising services end customers in the same period.

[3] Equals revenues generated from enterprise value-added services for a period divided by the number of enterprise value-added services end customers in the same period.

[4] Equals revenues generated from individual subscription services for a period divided by the number of individual subscribers in the same period.

[5] Equals revenues generated from institutional investor subscription services for a period divided by the number of institutional investors in the same period.

 

Fourth Quarter 2023 Financial Results

Total revenues increased by 7.0% to RMB103.3 million (US$14.6 million) in the fourth quarter of 2023, from RMB96.6 million in the same period of 2022.

  • Online advertising services revenues increased by 10.2% to RMB68.6 million (US$9.7 million) in the fourth quarter of 2023, from RMB62.2 million in the same period of 2022. The increase was primarily attributable to more innovative marketing solutions we provided to our customers.
  • Enterprise value-added services revenues increased by 3.6% to RMB26.3 million (US$3.7million) in the fourth quarter of 2023, from RMB25.4 million in the same period of 2022, as we continuously developed various proactive enterprise-level services for our customers.
  • Subscription services revenues were RMB8.4 million (US$1.2 million) in the fourth quarter of 2023, compared to RMB8.9 million in the same period of 2022. The slight decrease was primarily attributable to the structural changes to our institutional clients in China, partially offset by the increase in individual subscription services.

Cost of revenues was RMB45.8 million (US$6.4 million) in the fourth quarter of 2023, compared to RMB47.6 million in the same period of 2022. The decrease was primarily attributable to the optimization of personnel-related costs.

Gross profit was RMB57.6 million (US$8.1 million) in the fourth quarter of 2023, increasing by 17.6% from RMB48.9 million in the same period of 2022. Gross profit margin was 55.7% in the fourth quarter of 2023, up from 50.7% in the same period of 2022.

Operating expenses were RMB70.0 million (US$9.9 million) in the fourth quarter of 2023, compared to RMB69.0 million in the same period of 2022.

  • Sales and marketing expenses were RMB30.3 million (US$4.3 million) in the fourth quarter of 2023, a decrease of 7.6% from RMB32.8 million in the same period of 2022. The decrease was primarily attributable to the decrease in payroll-related expenses, partially offset by the increase in marketing-related expenses.
  • General and administrative expenses were RMB35.3 million (US$5.0million) in the fourth quarter of 2023, compared to RMB21.7 million in the same period of 2022. The increase was primarily attributable to the increase in allowance for credit losses.
  • Research and development expenses were RMB4.4 million (US$0.6 million) in the fourth quarter of 2023, a decrease of 70.0% from RMB14.5 million in the same period of 2022, as we proactively embraced AI technology and streamlined our research and development teams, resulting in a decrease in payroll-related expenses.

Share-based compensation income recognized in cost of revenues, sales and marketing expenses, research and development expenses, as well as general and administrative expenses totaled RMB0.4 million (US$0.1 million) in the fourth quarter of 2023, compared to share-based compensation expenses of RMB4.6 million in the same period of 2022. The fluctuation was primarily due to the reversal of share-based compensation expenses related to forfeiture.

Other expenses were RMB5.1 million (US$0.7million) in the fourth quarter of 2023, compared to other expenses of RMB1.2 million in the same period of 2022. The increase was primarily attributable to changes in the fair value of long-term investments.

Net loss was RMB17.7 million (US$2.5 million) in the fourth quarter of 2023, compared to net loss of RMB21.5 million in the same period of 2022. Non-GAAP adjusted net loss[6] was RMB18.1 million (US$2.6 million) in the fourth quarter of 2023, compared to non-GAAP adjusted net loss of RMB16.9 million in the same period of 2022.

Net loss attributable to 36Kr Holdings Inc.'s ordinary shareholders was RMB18.8 million (US$2.6 million) in the fourth quarter of 2023, compared to net loss attributable to 36Kr Holdings Inc.'s ordinary shareholders of RMB20.8 million in the same period of 2022.

Basic and diluted net loss per ADS were both RMB0.45 (US$0.6) in the fourth quarter of 2023, compared to basic and diluted net loss per ADS of RMB0.50 in the same period of 2022.

[6] Non-GAAP adjusted income/(loss) represents net income/(loss) excluding share-based compensation expenses.

 

Certain Balance Sheet Items

As of December 31, 2023, the Company had cash and cash equivalents, and short-term investments of RMB117.0 million (US$16.5 million), compared to RMB116.0 million as of September 30, 2023.

Fiscal Year 2023 Financial Results

Total revenues were RMB340.2 million (US$47.9 million) in fiscal year 2023, an increase of 5.5% compared to RMB322.5 million in the prior year. 

  • Online advertising services revenues were RMB238.7 million (US$33.6 million) in fiscal year 2023, an increase of 7.7% compared to RMB221.6 million in the prior year. The increase was primarily attributable to more innovative marketing solutions we provided to our customers as well as the proactive sales strategies we adopted during the year.
  • Enterprise value-added services revenues were RMB67.3 million (US$9.5 million) in fiscal year 2023, compared to RMB72.6 million in the prior year. The decrease was primarily due to the transition of our integrated marketing services, partially offset by the growth of our other value-added services during 2023.
  • Subscription services revenues were RMB34.2 million (US$4.8 million) in fiscal year 2023, an increase of 21.1%, compared to RMB28.2 million in the prior year. The increase was primarily attributable to our continuous efforts to offer high-quality subscription products to our subscribers.

Cost of revenues was RMB158.2 million (US$22.3 million) in fiscal year 2023, compared to RMB137.8 million in the prior year. The increase was primarily attributable to content costs and higher fulfillment costs.

Gross profit was RMB182.0 million (US$25.6 million) in fiscal year of 2023, compared to RMB184.6million in the prior year. Gross profit margin was 53.5% in fiscal year of 2023, compared to 57.3% in the previous year.

Operating expenses were RMB276.2 million (US$38.9 million) in fiscal year 2023, compared to RMB229.2 million in the prior year.

  • Sales and marketing expenses were RMB127.5 million (US$18.0 million) in fiscal year 2023, compared to RMB122.1 million in the prior year. The slight increase was primarily attributable to the increase in marketing expenses and promotion fees.
  • General and administrative expenses were RMB107.0 million (US$15.1 million) in fiscal year 2023, compared to RMB52.1 million in the prior year. The increase was mainly attributable to the increase in allowance for credit losses, as well as certain one-off expenses including severance payments as we optimized our organization and office lease termination fees that occurred in fiscal year 2023.
  • Research and development expenses were RMB41.7 million (US$5.9 million) in fiscal year 2023, 24.3% down from RMB55.0 million in the prior year, as we proactively embrace AI technology and streamlined our research and development teams, resulting in a decrease in payroll-related expenses.

Share-based compensation expenses recognized in cost of revenues, sales and marketing expenses, research and development expenses, as well as general and administrative expenses totaled RMB4.7 million (US$0.7 million) in fiscal year 2023, compared to RMB13.9 million in the prior year.

Other income was RMB4.9 million (US$0.7 million) in fiscal year 2023, compared to other income of RMB67.5 million in the prior year. The decrease was primarily because the Company recognized RMB38.0 million gain on disposal of subsidiaries and RMB16.0 million of long-term investments income in 2022, but recognized RMB8.1 million fair value loss of long-term investments in 2023.

Net loss was RMB89.2 million (US$12.6 million) fiscal year 2023, compared to net income of RMB22.6 million in the prior year. Non-GAAP adjusted net loss was RMB 84.6 million (US$11.9 million) in fiscal year 2023, compared to non-GAAP adjusted net income of RMB36.5 million in the prior year.

Net loss attributable to 36Kr Holdings Inc.'s ordinary shareholders was RMB90.0 million (US$12.7 million) in fiscal year 2023, compared to net income attributable to 36Kr Holdings Inc.'s ordinary shareholders of RMB21.9 million in the prior year.

Basic and diluted net loss per ADS were both RMB2.16 (US$0.3) in fiscal year 2023, compared to basic and diluted net income per ADS of RMB0.53 in the prior year.

Conference Call

The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on March 28, 2024 (8:00 PM Beijing/Hong Kong Time on March 28, 2024).

For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call.

Event Title:

36Kr Holdings Inc. Fourth Quarter and Fiscal Year 2023 Earnings Conference Call

Pre-registration link:

https://s1.c-conf.com/diamondpass/10037774-kpli8g.html 

 

Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.36kr.com.

A replay of the conference call will be available for one week from the date of the conference, by dialing the following telephone numbers:

United States:

+1-855-883-1031

International:

+61-7-3107-6325

Hong Kong, China:

800-930-639

Mainland China:

400-120-9216

Replay PIN:

10037774

 

About 36Kr Holdings Inc.

36Kr Holdings Inc. is a prominent brand and a pioneering platform dedicated to serving New Economy participants in China with the mission of empowering New Economy participants to achieve more. The Company started its business with high-quality New Economy-focused content offerings, covering a variety of industries in China's New Economy with diverse distribution channels. Leveraging traffic brought by high-quality content, the Company has expanded its offerings to business services, including online advertising services, enterprise value-added services and subscription services to address the evolving needs of New Economy companies and upgrading needs of traditional companies. The Company is supported by comprehensive database and strong data analytics capabilities. Through diverse service offerings and the significant brand influence, the Company is well-positioned to continuously capture the high growth potentials of China's New Economy.

For more information, please visit: http://ir.36kr.com.

Use of Non-GAAP Financial Measures

In evaluating its business, the Company considers and uses two non-GAAP measures, adjusted net income/(loss) and adjusted EBITDA, as supplemental measures to review and assess its operating performance. The presentation of these two non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company presents these non-GAAP financial measures because they are used by the Company's management to evaluate its operating performance and formulate business plans. The Company also believes that the use of these non-GAAP measures facilitates investors' assessment of its operating performance.

These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling these non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company performance. The Company encourages investors to review its financial information in its entirety and not rely on a single financial measure.

Adjusted net loss represents net loss excluding share-based compensation expenses.

Adjusted EBITDA represents adjusted net income/(loss) before interest income, interest expenses, income tax expense/(credit), depreciation of property and equipment and amortization of intangible assets.  

For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of GAAP and non-GAAP results" set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars and from U.S. dollars to Renminbi are made at a rate of RMB7.0999 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on of December 29, 2023.

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. 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 goal and strategies; the Company's future business development, results of operations and financial condition; relevant government policies and regulations relating to our business and industry; the Company's expectations regarding the use of proceeds from this offering; the Company's expectations regarding demand for, and market acceptance of, its services; the Company's ability to maintain and enhance its brand; the Company's ability to provide high-quality content in a timely manner to attract and retain users; the Company's ability to retain and hire quality in-house writers and editors; the Company's ability to maintain cooperation with third-party professional content providers; the Company's ability to maintain relationship with third-party platforms; general economic and business condition in China; possible disruptions in commercial activities caused by natural or human-induced disasters; 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:

36Kr Holdings Inc.
Investor Relations
Tel: +86 (10) 8965-0708
E-mail: ir@36kr.com 

Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: 36Kr@tpg-ir.com 

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: 36Kr@tpg-ir.com 

 

36Kr Holdings Inc.


UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS





December 31,


December 31,


December 31,

2022

2023

2023


RMB'000


RMB'000


US$'000







Assets






Current assets:






Cash and cash equivalents

142,511


41,464


5,840

Restricted cash

100


-


-

Short‑term investments

42,270


75,497


10,634

Accounts receivable, net

197,528


139,408


19,635

Receivables due from related parties

858


69


10

Prepayments and other current assets

16,159


16,030


2,259

Total current assets

399,426


272,468


38,378

Non‑current assets:






Property and equipment, net

2,428


7,366


1,037

Intangible assets, net

1,249


2,079


293

Long-term investments

137,357


142,599


20,085

Operating lease right-of-use assets, net

30,911


34,454


4,853

Total non‑current assets

171,945


186,498


26,268

Total assets

571,371


458,966


64,646







Liabilities






Current liabilities:






Accounts payable

53,465


60,376


8,504

Salary and welfare payables

52,204


36,046


5,077

Taxes payable

10,874


5,940


837

Deferred revenue

24,575


23,428


3,300

Amounts due to related parties

312


261


37

Accrued liabilities and other payables

27,606


25,152


3,543

Short-term bank loan

9,950


9,950


1,401

Operating lease liabilities

31,293


8,953


1,261

Total current liabilities

210,279


170,106


23,960

Non-current liabilities:






Operating lease liabilities

15,093


26,826


3,778

Other non-current liabilities

615


174


25

Total non-current liabilities

15,708


27,000


3,803

Total liabilities

225,987


197,106


27,763







Shareholders' equity






Ordinary shares

694


694


98

Treasury stock

(12,010)


(11,502)


(1,620)

Additional paid-in capital

2,061,491


2,064,264


290,746

Accumulated deficit

(1,706,209)


(1,796,189)


(252,988)

Accumulated other comprehensive loss

(5,860)


(5,290)


(745)

Total 36Kr Holdings Inc.'s shareholders' equity

338,106


251,977


35,491

Non-controlling interests

7,278


9,883


1,392

Total shareholders' equity

345,384


261,860


36,883

Total liabilities and shareholders' equity

571,371


458,966


64,646







 

36Kr Holdings Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)



Three Months Ended


Twelve Months Ended


December 31,

2022


December 31,

2023


December 31,

2023


December 31,

2022


December 31,

2023


December 31,

2023


RMB'000


RMB'000


US$'000


RMB'000


RMB'000


US$'000

Revenues:












Online advertising services

62,246


68,577


9,659


221,620


238,701


33,620

Enterprise value-added services

25,396


26,307


3,705


72,640


67,297


9,479

Subscription services

8,933


8,447


1,190


28,237


34,187


4,815

Total revenues

96,575


103,331


14,554


322,497


340,185


47,914

Cost of revenues 

(47,626)


(45,781)


(6,448)


(137,848)


(158,169)


(22,278)

Gross profit 

48,949


57,550


8,106


184,649


182,016


25,636

Operating expenses:












Sales and marketing expenses

(32,802)


(30,299)


(4,268)


(122,069)


(127,519)


(17,961)

General and administrative expenses 

(21,699)


(35,304)


(4,972)


(52,072)


(107,034)


(15,075)

Research and development expenses 

(14,538)


(4,355)


(613)


(55,045)


(41,681)


(5,871)

Total operating expenses 

(69,039)


(69,958)


(9,853)


(229,186)


(276,234)


(38,907)

Loss from operations 

(20,090)


(12,408)


(1,747)


(44,537)


(94,218)


(13,271)

Other income/(expenses):












Share of (loss)/income from equity method investments

(234)


4


1


51


(523)


(74)

Gain on disposal of a subsidiary

-


-


-


38,019


3,366


474

Long-term investment (loss)/income

(2,500)


(8,079)


(1,138)


15,964


(8,079)


(1,138)

Short-term investment income

364


285


40


1,999


1,312


185

Government grant

96


126


18


3,447


1,147


162

Others, net 

1,047


2,542


358


8,055


7,706


1,085

(Loss)/income before income tax 

(21,317)


(17,530)


(2,468)


22,998


(89,289)


(12,577)

Income tax (expenses)/credit

(190)


(131)


(18)


(361)


42


6

Net (loss)/income

(21,507)


(17,661)


(2,486)


22,637


(89,247)


(12,571)

Net loss/(income) attributable to non-controlling interests

692


(1,091)


(154)


(694)


(733)


(103)

Net (loss)/income attributable to 36Kr Holdings Inc.'s
   ordinary shareholders 

(20,815)


(18,752)


(2,640)


21,943


(89,980)


(12,674)













Net (loss)/income

(21,507)


(17,661)


(2,486)


22,637


(89,247)


(12,571)

Other comprehensive income












Foreign currency translation adjustments 

(621)


(396)


(56)


3,127


570


80

Total other comprehensive income

(621)


(396)


(56)


3,127


570


80

Total comprehensive (loss)/income

(22,128)


(18,057)


(2,542)


25,764


(88,677)


(12,491)

Comprehensive loss/(income) attributable to non-controlling interests

692


(1,091)


(154)


(694)


(733)


(103)

Comprehensive (loss)/income attributable to 36Kr
   Holdings Inc.'s ordinary shareholders 

(21,436)


(19,148)


(2,696)


25,070


(89,410)


(12,594)













Net (loss)/income per ordinary share (RMB)












Basic

(0.020)


(0.018)


(0.003)


0.021


(0.086)


(0.012)

Diluted

(0.020)


(0.018)


(0.003)


0.021


(0.086)


(0.012)

   Net (loss)/income per ADS (RMB)












Basic

(0.498)


(0.448)


(0.063)


0.530


(2.157)


(0.304)

Diluted

(0.498)


(0.448)


(0.063)


0.530


(2.157)


(0.304)

Weighted average number of ordinary shares used
   in per share calculation












Basic

1,044,317,684


1,046,514,261


1,046,514,261


1,034,547,219


1,043,057,081


1,043,057,081

Diluted

1,044,317,684


1,046,514,261


1,046,514,261


1,034,547,219


1,043,057,081


1,043,057,081

Weighted average number of ADS used in per ADS
   calculation












Basic

41,772,707


41,860,570


41,860,570


41,381,889


41,722,283


41,722,283

Diluted

41,772,707


41,860,570


41,860,570


41,381,889


41,722,283


41,722,283

 

36Kr Holdings Inc.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS



Three Months Ended


Twelve Months Ended



December 31,

2022


December 31,

2023


December 31,

2023


December 31,

2022


December 31,

2023


December 31,

2023


RMB'000


RMB'000


US$'000


RMB'000


RMB'000


US$'000













Net (loss)/income

(21,507)


(17,661)


(2,486)


22,637


(89,247)


(12,571)

Share-based compensation (income)/expense

4,618


(445)


(63)


13,886


4,672


658

Non-GAAP adjusted net (loss)/income

(16,889)


(18,106)


(2,549)


36,523


(84,575)


(11,913)

Interest income, net

(475)


(51)


(7)


(1,039)


(794)


(112)

Income tax expense/(income)

190


131


18


361


(42)


(6)

Depreciation and amortization expenses

499


848


119


1,922


2,105


296

Non-GAAP adjusted EBITDA

(16,675)


(17,178)


(2,419)


37,767


(83,306)


(11,735)














 

Source: 36Kr Holdings Inc.
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