ATRenew Inc. Reports Unaudited Fourth Quarter and Full Year 2021 Financial Results
ATRenew Inc. (“ATRenew” or the “Company”) (NYSE: RERE), a leading technology-driven pre-owned consumer electronics transactions and services platform in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2021.
Fourth Quarter 2021 Highlights
- Total net revenues grew by 48.2% to RMB2,435.8 million (US$382.2 million) from RMB1,644.1 million in the fourth quarter of 2020.
- Loss from operations was RMB125.9 million (US$19.8 million), compared to RMB59.1 million in the fourth quarter of 2020. Adjusted income from operations (non-GAAP)[1] was RMB9.7 million (US$1.5 million) compared to RMB18.7 million in the fourth quarter of 2020.
- Total Gross Merchandise Volume (“GMV[2]“) increased by 50.7% to RMB10.1 billion from RMB6.7 billion in the fourth quarter of 2020. GMV for product sales increased by 52.9% to RMB2.6 billion from RMB1.7 billion in the fourth quarter of 2020. GMV for online marketplaces increased by 50.0% to RMB7.5 billion from RMB5.0 billion in the fourth quarter of 2020.
- Number of consumer products transacted[3] increased by 26.4% to 9.1 million from 7.2 million in the fourth quarter of 2020.
Full Year 2021 Highlights
- Total net revenues grew by 60.1% to RMB7,780.3 million (US$1,220.9 million) from RMB4,858.2 million in the full year of 2020.
- Loss from operations was RMB895.1 million (US$140.5 million), compared to RMB458.8 million in the full year of 2020. Adjusted loss from operations (non-GAAP)[1] was RMB103.4 million (US$16.2 million) compared to RMB143.7 million in the full year of 2020.
- Total Gross Merchandise Volume (“GMV[2]“) increased by 65.8% to RMB32.5 billion from RMB19.6 billion in the full year of 2020. GMV for product sales increased by 69.6% to RMB7.8 billion from RMB4.6 billion in the full year 2020. GMV for online marketplaces increased by 64.7% to RMB24.7 billion from RMB15.0 billion in the full year of 2020.
- Number of consumer products transacted[3] increased by 32.2% to 31.2 million from 23.6 million in the full year of 2020.
[1] See “Reconciliations of GAAP and Non-GAAP Results” for more information. |
[2] “GMV” represents the total dollar value of goods distributed to merchants and consumers through transactions on the Company’s platform in a given period for which payments have been made, prior to returns and cancellations, excluding shipping cost but including sales tax. |
[3] “Number of consumer products transacted” represents the number of consumer products distributed to merchants and consumers through transactions on the Company’s PJT Marketplace, Paipai Marketplace and other channels the Company operates in a given period, prior to returns and cancellations, excluding the number of consumer products collected through AHS Recycle; a single consumer product may be counted more than once according to the number of times it is transacted on PJT Marketplace, Paipai Marketplace and other channels the Company operates through the distribution process to end consumer. |
Mr. Kerry Xuefeng Chen, the Founder, Chairman, and Chief Executive Officer of ATRenew, commented, “During the fourth quarter of 2021, we generated total revenues that exceeded our previous guidance. This continued revenue growth is a testament to the efficacy of our monetization capabilities, which enabled us to earn a non-GAAP operating profit of RMB9.7 million. Our development of the infrastructure and consumer habits for recycling and reuse of electronic goods has established a vibrant economic ecosystem. We continue polishing our strategy and operational capabilities, enhance our control over supply sourcing, and deepen the penetration of digital transactions with our city-level service integration model. We also continue to upgrade our automated inspection technology to enhance operational efficiency and ensure that compliance and integrity remain at the core of our business. Looking ahead, we aim to empower consumers and merchant users for the mutual benefit of all our stakeholders and shareholders. By leveraging our well-established position in China’s circular economy. We will continue to drive steady improvements in our user experience and our profitability.”
Mr. Rex Chen, the Chief Financial Officer of ATRenew, added, “We are delighted to announce our achievement in reaching the profitability milestone this quarter. Our solid growth in product revenue was driven by our success in increasing the density of our AHS stores and continuing to focus on improving their industry-leading unit economics. Service revenues benefited from increases in transaction volume and a new record high in average commission rate of 4.8% in the fourth quarter 2021, indicating that our digital solutions and technology empowerment are in high demand. In the future, we pledge to further improve our cost structure, and will continue to strengthen our competitive moat by enhancing our C2B2C closed-loop supply chain and our automation technologies. With sufficient cash on hand, we are confident in our ability to generate long-term value for society and all of our stakeholders.”
Fourth Quarter 2021 Financial Results
REVENUE
Total net revenues increased by 48.2% to RMB2,435.8 million (US$382.2 million) from RMB1,644.1 million in the same period of 2020.
- Net product revenues increased by 43.9% to RMB2,076.0 million (US$325.8 million) from RMB1,442.3 million in the same period of 2020. The increase was primarily attributable to an increase in the sourcing volume and the corresponding sales of pre-owned consumer electronics through PJT Marketplace, and Paipai Marketplace.
- Net service revenues increased by 78.3% to RMB359.9 million (US$56.5 million) from RMB201.8 million in the same period of 2020. The increase was primarily due to the increases in transaction volume on PJT Marketplace and Paipai Marketplace and an increase in the average commission rate.
OPERATING COSTS AND EXPENSES
Operating costs and expenses increased by 50.1% to RMB2,573.2 million (US$403.8 million) from RMB1,714.8 million in the same period of 2020.
- Merchandise costs increased by 45.6% to RMB1,800.5 million (US$282.5 million) from RMB1,236.5 million in the same period of 2020. The increase was in line with the growth in product revenue.
- Fulfillment expenses increased by 52.8% to RMB290.1 million (US$45.5 million) from RMB189.9 million in the same period of 2020. The increase was primarily due to (i) an increase in personnel cost in connection with the Company’s growing business; (ii) the increases in logistics expenses and operation center related expenses, which were in line with the increase in sales of pre-owned consumer electronics; and (iii) the recognition of share-based compensation expense resulting from options granted to employees with an IPO condition since second quarter of 2021.
- Selling and marketing expenses increased by 74.0% to RMB368.8 million (US$57.9 million) from RMB212.0 million in the same period of 2020. The increase was primarily due to (i) an increase in sales promotion and coupon expenses in connection with business development; (ii) an increase in personnel cost in connection with the Company’s growing business; and (iii) the recognition of share-based compensation expense resulting from options granted to employees with an IPO condition since second quarter of 2021.
- General and administrative expenses increased by 41.0% to RMB51.9 million (US$8.1 million) from RMB36.8 million in the same period of 2020. The increase was primarily due to the increase in the recognition of share-based compensation expense resulting from options granted to employees with an IPO condition since second quarter of 2021.
- Technology and content expenses increased by 55.8% to RMB62.0 million (US$9.7 million) from RMB39.8 million in the same period of 2020. The increase was primarily due to (i) the increase in personnel cost in connection to the expansion of the Company’s research and development activities; and (ii) the recognition of share-based compensation expense resulting from options granted to employees with an IPO condition since second quarter of 2021.
LOSS (INCOME) FROM OPERATIONS
Loss from operations was RMB125.9 million (US$19.8 million), compared to RMB59.1 million in the same period of 2020. Adjusted income from operations (non-GAAP)[1], excluding amortization of intangible assets and deferred cost resulting from assets and business acquisitions and recognition of share-based compensation expense resulting from options granted to employees, was RMB9.7 million (US$1.5 million), compared to RMB18.7 million in the same period of 2020.
NET LOSS
Net loss was RMB103.6 million (US$16.3 million), compared to RMB82.9 million in the same period of 2020. Adjusted net loss (non-GAAP)[1] was RMB50.2 million (US$7.9 million), compared to RMB16.7 million in the same period of 2020.
BASIC AND DILUTED NET LOSS PER ORDINARY SHARE
Basic and diluted net loss per ordinary share were RMB0.63 (US$0.10), compared to RMB22.69 in the same period of 2020.
Adjusted basic and diluted net loss per ordinary share (non-GAAP)[1] were RMB0.31 (US$0.05), compared to RMB0.89 in the same period of 2020.
Full Year 2021 Financial Results
REVENUE
Total net revenues increased by 60.1% to RMB7,780.3 million (US$1,220.9 million) from RMB4,858.2 million in the full year of 2020.
- Net product revenues increased by 56.8% to RMB6,654.9 million (US$1,044.3 million) from RMB4,244.0 million in the full year of 2020. The increase was primarily attributable to an increase in sourcing volume and the corresponding increase in sales of pre-owned consumer electronics through PJT Marketplace, and Paipai Marketplace.
- Net service revenues increased by 83.2% to RMB1,125.4 million (US$176.6 million) from RMB614.2 million in the full year of 2020. The increase was primarily due to the increases in transaction volume on PJT Marketplace and Paipai Marketplace and an increase in the average commission rate.
OPERATING COSTS AND EXPENSES
Operating costs and expenses increased by 62.8% to RMB8,702.3 million (US$1,365.6 million) from RMB5,346.4 million in the full year of 2020.
- Merchandise costs increased by 58.9% to RMB5,735.4 million (US$900.0 million) from RMB3,610.4 million in the full year of 2020. The increase was in line with the growth in product revenue.
- Fulfillment expenses increased by 59.4% to RMB1,062.1 million (US$166.7 million) from RMB666.3 million in the full year of 2020. The increase was primarily due to (i) an increase in personnel cost in connection with the Company’s growing business; (ii) the increases in logistics expenses and operation center related expenses, which were in line with the increase in sales of pre-owned consumer electronics; and (iii) the recognition of share-based compensation expense of RMB59.6 million (US$9.4 million) resulting from options granted to employees with an IPO condition.
- Selling and marketing expenses increased by 62.9% to RMB1,206.6 million (US$189.4 million) from RMB740.5 million in the full year of 2020. The increase was primarily due to (i) an increase in sales promotion and coupon expenses in connection with business development; (ii) an increase in sales commissions in connection with traffic acquisition and sourcing of pre-owned devices; (iii) an increase in personnel cost in connection with the Company’s growing business; and (iv) the recognition of share-based compensation expense of RMB38.5 million (US$6.0 million) resulting from options granted to employees with an IPO condition.
- General and administrative expenses increased by 144.3% to RMB433.6 million (US$68.0 million) from RMB177.5 million in the full year of 2020. The increase was primarily due to (i) the share-based compensation expense of RMB220.3 million (US$34.6 million) in connection with the restricted share units and options granted to the management with an IPO condition and the recognition of share-based compensation expense of RMB96.6 million (US$15.2 million) resulting from options granted to employees with an IPO condition; and (ii) the decrease in other administrative expenses resulting from the improved management efficiency.
- Technology and content expenses increased by 74.7% to RMB264.6 million (US$41.5 million) from RMB151.5 million in the full year of 2020. The increase was primarily due to (i) the increase in personnel cost in connection to the expansion of the Company’s research and development activities; and (ii) the recognition of share-based compensation expense of RMB39.6 million (US$6.2 million) resulting from options granted to employees with an IPO condition.
LOSS FROM OPERATIONS
Loss from operations was RMB895.1 million (US$140.5 million), compared to RMB458.8 million in the full year of 2020. Adjusted loss from operations (non-GAAP)[1], excluding amortization of intangible assets and deferred cost resulting from assets and business acquisitions and recognition of share-based compensation expense resulting from options granted to employees, was RMB103.4 million (US$16.2 million), compared to RMB143.7 million in the full year of 2020.
NET LOSS
Net loss was RMB816.5 million (US$128.1 million), compared to RMB470.6 million in the full year of 2020. Adjusted net loss (non-GAAP)[1] was RMB168.8 million (US$26.5 million), compared to RMB202.8 million in the full year of 2020.
BASIC AND DILUTED NET LOSS PER ORDINARY SHARE
Basic and diluted net loss per ordinary share were RMB13.76 (US$2.16), compared to RMB94.51 in the full year of 2020.
Adjusted basic and diluted net loss per ordinary share (non-GAAP)[1] were RMB1.75 (US$0.27), compared to RMB10.80 in the full year of 2020.
CASH AND CASH EQUIVALENTS, RESTRICTED CASH, SHORT-TERM INVESTMENTS AND FUNDS RECEIVABLE FROM THIRD PARTY PAYMENT SERVICE PROVIDERS
Cash and cash equivalents, restricted cash, short-term investments and funds receivable from third party payment service providers increased to RMB2,421.9 million (US$380.0 million) as of December 31, 2021, from RMB1,140.2 million as of December 31, 2020, primarily due to net proceeds from the Company’s initial public offering in June 2021.
Business Outlook
For the first quarter of 2022, the Company currently expects its total revenues to be between RMB2,150.0 million and RMB2,200.0 million. This forecast only reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change.
Recent Development
On December 28, the Company announced a share repurchase program, that the Company may repurchase up to US$100 million of its shares over a twelve-month period starting from December 28, 2021, upon the authorization of its board of directors.
ATRENEW INC. |
||||||||||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||||||
(Amounts in thousands, except share and per share and otherwise noted) |
||||||||||||
As of December 31 |
As of December 31, |
|||||||||||
2020 |
2021 |
|||||||||||
RMB |
RMB |
US$ |
||||||||||
ASSETS |
||||||||||||
Current assets: |
||||||||||||
Cash and cash equivalents |
918,076 |
1,356,342 |
212,840 |
|||||||||
Restricted cash |
— |
150,000 |
23,538 |
|||||||||
Short-term investments |
97,866 |
510,467 |
80,103 |
|||||||||
Amount due from related parties, net |
289,156 |
410,088 |
64,352 |
|||||||||
Inventories |
176,994 |
478,751 |
75,126 |
|||||||||
Funds receivable from third party payment service providers |
124,262 |
405,095 |
63,568 |
|||||||||
Prepayments and other receivables, net |
268,284 |
840,102 |
131,830 |
|||||||||
Total current assets |
1,874,638 |
4,150,845 |
651,357 |
|||||||||
Non-current assets: |
||||||||||||
Long-term investments |
96,362 |
241,527 |
37,901 |
|||||||||
Property and equipment, net |
69,562 |
103,843 |
16,295 |
|||||||||
Intangible assets, net |
1,367,841 |
1,075,811 |
168,818 |
|||||||||
Operating lease right-of-use assets[4] |
— |
69,612 |
10,924 |
|||||||||
Goodwill |
1,803,415 |
1,803,415 |
282,995 |
|||||||||
Other non-current assets |
14,520 |
57,709 |
9,056 |
|||||||||
Total non-current assets |
3,351,700 |
3,351,917 |
525,989 |
|||||||||
TOTAL ASSETS |
5,226,338 |
7,502,762 |
1,177,346 |
|||||||||
LIABILITIES, MEZZANINE EQUITY AND EQUITY (DEFICIT) |
||||||||||||
Current liabilities: |
||||||||||||
Short-term borrowings |
369,657 |
94,999 |
14,907 |
|||||||||
Amount due to related parties |
114,669 |
73,976 |
11,608 |
|||||||||
Accounts payable |
27,201 |
41,311 |
6,483 |
|||||||||
Contract liabilities |
33,884 |
211,964 |
33,262 |
|||||||||
Accrued expenses and other current liabilities |
362,728 |
260,679 |
40,906 |
|||||||||
Accrued payroll and welfare |
115,400 |
105,787 |
16,600 |
|||||||||
Operating lease liabilities, current |
— |
35,948 |
5,641 |
|||||||||
Convertible bonds |
160,000 |
— |
— |
|||||||||
Total current liabilities |
1,183,539 |
824,664 |
129,407 |
|||||||||
Non-current liabilities: |
||||||||||||
Long-term borrowings |
32,624 |
— |
— |
|||||||||
Operating lease liabilities, non-current |
— |
34,501 |
5,414 |
|||||||||
Deferred tax liabilities |
341,960 |
223,138 |
35,015 |
|||||||||
Total non-current liabilities |
374,584 |
257,639 |
40,429 |
|||||||||
TOTAL LIABILITIES |
1,558,123 |
1,082,303 |
169,836 |
|||||||||
TOTAL MEZZANINE EQUITY |
8,879,894 |
— |
— |
|||||||||
TOTAL (DEFICIT) EQUITY |
(5,211,679) |
6,420,459 |
1,007,510 |
|||||||||
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY |
5,226,338 |
7,502,762 |
1,177,346 |
|||||||||
[4] On January 1, 2021, the Company adopted ASC 842, the new lease standard, using the modified retrospective method. |
ATRENEW INC. |
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS |
||||||||||||||||||||||||
(Amounts in thousands, except share and per share and otherwise noted) |
||||||||||||||||||||||||
Three months ended December 31, |
Years ended December 31, |
|||||||||||||||||||||||
2020 |
2021 |
2020 |
2021 |
|||||||||||||||||||||
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
|||||||||||||||||||
Net revenues |
||||||||||||||||||||||||
Net product revenues |
1,442,318 |
2,075,955 |
325,763 |
4,244,023 |
6,654,893 |
1,044,298 |
||||||||||||||||||
Net service revenues |
201,770 |
359,873 |
56,472 |
614,176 |
1,125,382 |
176,597 |
||||||||||||||||||
Operating expenses(1)(2) |
||||||||||||||||||||||||
Merchandise costs |
(1,236,462) |
(1,800,488) |
(282,536) |
(3,610,434) |
(5,735,393) |
(900,008) |
||||||||||||||||||
Fulfillment expenses |
(189,910) |
(290,128) |
(45,527) |
(666,317) |
(1,062,066) |
(166,661) |
||||||||||||||||||
Selling and marketing expenses |
(211,961) |
(368,767) |
(57,868) |
(740,542) |
(1,206,649) |
(189,350) |
||||||||||||||||||
General and administrative expenses |
(36,764) |
(51,898) |
(8,144) |
(177,542) |
(433,629) |
(68,046) |
||||||||||||||||||
Technology and content expenses |
(39,751) |
(61,962) |
(9,723) |
(151,536) |
(264,560) |
(41,515) |
||||||||||||||||||
Total operating expenses |
(1,714,848) |
(2,573,243) |
(403,798) |
(5,346,371) |
(8,702,297) |
(1,365,580) |
||||||||||||||||||
Other operating income, net |
11,651 |
11,523 |
1,808 |
29,395 |
26,950 |
4,229 |
||||||||||||||||||
Loss from operations |
(59,109) |
(125,892) |
(19,755) |
(458,777) |
(895,072) |
(140,456) |
||||||||||||||||||
Interest expense |
(5,213) |
(1,785) |
(280) |
(21,090) |
(16,778) |
(2,633) |
||||||||||||||||||
Interest income |
1,080 |
2,086 |
327 |
9,321 |
8,370 |
1,313 |
||||||||||||||||||
Other loss, net |
(31,146) |
(53,301) |
(8,364) |
(39,866) |
(50,367) |
(7,904) |
||||||||||||||||||
Loss before income taxes |
(94,388) |
(178,892) |
(28,072) |
(510,412) |
(953,847) |
(149,680) |
||||||||||||||||||
Income tax benefits |
11,688 |
82,103 |
12,884 |
47,320 |
143,863 |
22,575 |
||||||||||||||||||
Share of loss in equity method investments |
(176) |
(6,847) |
(1,074) |
(7,526) |
(6,563) |
(1,030) |
||||||||||||||||||
Net loss |
(82,876) |
(103,636) |
(16,262) |
(470,618) |
(816,547) |
(128,135) |
||||||||||||||||||
Accretion of convertible redeemable |
(343,392) |
— |
— |
(1,304,498) |
(508,627) |
(79,815) |
||||||||||||||||||
Net loss attributable to ordinary |
(426,268) |
(103,636) |
(16,262) |
(1,775,116) |
(1,325,174) |
(207,950) |
||||||||||||||||||
Net loss per ordinary share: |
||||||||||||||||||||||||
Basic |
(22.69) |
(0.63) |
(0.10) |
(94.51) |
(13.76) |
(2.16) |
||||||||||||||||||
Diluted |
(22.69) |
(0.63) |
(0.10) |
(94.51) |
(13.76) |
(2.16) |
||||||||||||||||||
Weighted average number of shares used |
||||||||||||||||||||||||
Basic |
18,782,620 |
163,367,269 |
163,367,269 |
18,782,620 |
96,306,113 |
96,306,113 |
||||||||||||||||||
Diluted |
18,782,620 |
163,367,269 |
163,367,269 |
18,782,620 |
96,306,113 |
96,306,113 |
||||||||||||||||||
Net loss |
(82,876) |
(103,636) |
(16,262) |
(470,618) |
(816,547) |
(128,135) |
||||||||||||||||||
Foreign currency translation adjustments |
1,659 |
1,390 |
218 |
2,441 |
2,239 |
351 |
||||||||||||||||||
Total comprehensive loss |
(81,217) |
(102,246) |
(16,044) |
(468,177) |
(814,308) |
(127,784) |
||||||||||||||||||
Accretion of convertible redeemable |
(343,392) |
— |
— |
(1,304,498) |
(508,627) |
(79,815) |
||||||||||||||||||
Total comprehensive loss attributable to |
(424,609) |
(102,246) |
(16,044) |
(1,772,675) |
(1,322,935) |
(207,599) |
ATRENEW INC. |
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (CONTINUED) |
||||||||||||||||||||||||
(Amounts in thousands, except share and per share and otherwise noted) |
||||||||||||||||||||||||
Three months ended December 31, |
Years ended December 31, |
|||||||||||||||||||||||
2020 |
2021 |
2020 |
2021 |
|||||||||||||||||||||
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
|||||||||||||||||||
(1) Includes share-based compensation expenses as follows: |
||||||||||||||||||||||||
Fulfillment expenses |
— |
(10,291) |
(1,615) |
— |
(59,583) |
(9,350) |
||||||||||||||||||
Selling and marketing expenses |
— |
(8,600) |
(1,350) |
— |
(38,463) |
(6,036) |
||||||||||||||||||
General and administrative expenses |
— |
(18,977) |
(2,978) |
— |
(316,911) |
(49,731) |
||||||||||||||||||
Technology and content expenses |
— |
(7,656) |
(1,201) |
— |
(39,595) |
(6,213) |
||||||||||||||||||
(2) Includes amortization of intangible assets and deferred |
||||||||||||||||||||||||
Selling and marketing expenses |
(76,258) |
(88,455) |
(13,880) |
(308,803) |
(330,755) |
(51,902) |
||||||||||||||||||
Technology and content expenses |
(1,580) |
(1,580) |
(248) |
(6,320) |
(6,320) |
(992) |
Reconciliations of GAAP and Non-GAAP Results |
||||||||||||||||||||||||
(Amounts in thousands, except share and per share and otherwise noted) |
||||||||||||||||||||||||
Three months ended December 31, |
Years ended December 31, |
|||||||||||||||||||||||
2020 |
2021 |
2020 |
2021 |
|||||||||||||||||||||
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
|||||||||||||||||||
Loss from operations |
(59,109) |
(125,892) |
(19,755) |
(458,777) |
(895,072) |
(140,456) |
||||||||||||||||||
Add: |
||||||||||||||||||||||||
Share-based compensation expense |
— |
45,524 |
7,144 |
— |
454,552 |
71,330 |
||||||||||||||||||
Amortization of intangible assets and deferred cost resulting |
77,838 |
90,035 |
14,128 |
315,123 |
337,075 |
52,894 |
||||||||||||||||||
Adjusted income (loss) from operations |
18,729 |
9,667 |
1,517 |
(143,654) |
(103,445) |
(16,232) |
||||||||||||||||||
Net loss |
(82,876) |
(103,636) |
(16,262) |
(470,618) |
(816,547) |
(128,135) |
||||||||||||||||||
Add: |
||||||||||||||||||||||||
Share-based compensation expense |
— |
45,524 |
7,144 |
— |
454,552 |
71,330 |
||||||||||||||||||
Amortization of intangible assets and deferred cost resulting |
77,838 |
90,035 |
14,128 |
315,123 |
337,075 |
52,894 |
||||||||||||||||||
Less: |
||||||||||||||||||||||||
Tax effect of amortization of intangible assets and deferred |
(11,688) |
(82,103) |
(12,884) |
(47,320) |
(143,863) |
(22,575) |
||||||||||||||||||
Adjusted net loss |
(16,726) |
(50,180) |
(7,874) |
(202,815) |
(168,783) |
(26,486) |
||||||||||||||||||
Adjusted net loss per ordinary share: |
||||||||||||||||||||||||
Basic |
(0.89) |
(0.31) |
(0.05) |
(10.80) |
(1.75) |
(0.27) |
||||||||||||||||||
Diluted |
(0.89) |
(0.31) |
(0.05) |
(10.80) |
(1.75) |
(0.27) |
||||||||||||||||||
Weighted average number of shares used in calculating net |
||||||||||||||||||||||||
Basic |
18,782,620 |
163,367,269 |
163,367,269 |
18,782,620 |
96,306,113 |
96,306,113 |
||||||||||||||||||
Diluted |
18,782,620 |
163,367,269 |
163,367,269 |
18,782,620 |
96,306,113 |
96,306,113 |
Source: ATRenew Inc.