iClick Interactive (NASDAQ: ICLK), a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions, has released its unaudited financial results for Q1 2021, the period ended March 31, 2021. Noting that the company has achieved sixth consecutive quarters of record results, the report shows revenue for the first quarter 2021 reached $66.5 million, up 36% from the same time last year. Specifically, the company pointed out the increase came primarily from an increase in contributions from existing marketing and enterprise solutions. Gross profitfor the first quarter of 2021 totaled $19.5 million, a 47% increase compared with $13.3 million for the first quarter of 2020, with total operating expenses coming in at $25.9 million for the first quarter of 2021, an increase over the $15.3 million reported for the same quarter last year. Operating loss was up as well, with Q1 2021 numbers coming in at $6.4 million compared with $2.1 million for the first quarter of 2020. The company held a conference call to discuss the financial report at 8 a.m. ET on May 26. A replay of the call is available through June 2 by dialing 1-877-344-7529 in the United States, 1-855-669-9658 in Canada, or 1-412-317-0088 internationally, and using the replay access code 24763800. “The momentum we enjoyed last year has continued into the first quarter of 2021,” said iClick co-founder and CEO Jian “T.J.” Tang in the press release. “We recorded the highest revenue, gross profit, adjusted EBITDA and adjusted net income of any first quarter in our history. This strong set of results was driven by increasing demand for our data-driven solutions, which are helping brands to connect effectively and efficiently with consumers amidst the offline-to-online digital transformation occurring in China, despite some lingering effects of the coronavirus pandemic on advertisement spending. . . . Enterprise Solutions had record results for the sixth consecutive quarter with revenue of $11.7 million representing 166% year-over-year growth, and Marketing Solutions maintained healthy growth, with revenues increasing by 23% year-over-year to US$54.8 million. We are pleased to share that Enterprise Solutions accounted for roughly 18% of our total revenue this past quarter, the highest percentage in our history, further demonstrating both the strong market demand and our solid execution capability. Furthermore, our adjusted EBITDA grew 54% and our adjusted net income grew 17% year-over-year, as we benefit from the operating leverage arising from the strong economies of scale in our Marketing Solutions business. Investing in and growing our SaaS-based Enterprise Solutions is a key strategic focus for this year, and we are making good progress in meeting this objective.”
To view the full press release, visit https://ibn.fm/OhaUk
About iClick Interactive Asia Group Limited
iClick is a leading enterprise and marketing cloud platform in China. The company’s mission is to empower worldwide brands to unlock the enormous market potential of smart retail. With its leading proprietary technologies, iClick’s full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. Headquartered in Hong Kong, iClick currently operates in 10 locations across Asia and Europe. For more information about the company, please visit www.iClick.com.
NOTE TO INVESTORS: The latest news and updates relating to ICLK are available in the company’s newsroom at http://ibn.fm/ICLK
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