Monster Charge’s revenue in the second quarter was 690 million yuan

Monster Charge (NASDAQ: EM) today released its financial report for the second quarter of 2022 as of June 30. According to the financial report, Monster Charge’s second-quarter revenue was 690.5 million yuan (about 103.1 million U.S. dollars), down 29.0% from the same period in 2021. The net loss was 184.5 million yuan ($27.6 million), compared with a net profit of 8.2 million a year earlier. Non-GAAP adjusted net loss was 177.5 million yuan ($26.5 million), compared with an adjusted net profit of 17.2 million yuan a year earlier.

Second quarter operating results:

• As of June 30, 2022, Monster Charge's services covered 895,000 POIs (points of interest), compared to 861,000 as of March 31, 2022.
• As of June 30, 2022, approximately 43.2% of POIs operated through the network partner model, compared to 38.9% as of March 31, 2022.
• As of June 30, 2022, the number of power banks provided by Monster Charge was 6 million, compared to 5.7 million as of March 31, 2022.
• As of June 30, 2022, the cumulative number of registered users of Monster Charge was 310.5 million, which means an additional 116 million registered users in the second quarter.

Second quarter financial results:

• Revenue was 690.5 million yuan (approximately US$103.1 million), down 29.0% from the same period in 2021.
• The cost of revenue was 162.9 million yuan (about 24.3 million US dollars), an increase of 17.4% compared with 138.7 million yuan in the same period last year.
• Research and development expenses were 23.7 million yuan (about 3.5 million US dollars), an increase of 15.8% compared to 20.5 million yuan in the same period last year.
• The operating loss was 191.0 million yuan ($28.5 million), compared with an operating profit of 18.8 million yuan a year earlier.
• The net loss was 184.5 million yuan ($27.6 million), compared with a net profit of 8.2 million a year earlier.
• Non-GAAP adjusted net loss was 177.5 million yuan ($26.5 million), compared with an adjusted net profit of 17.2 million yuan a year earlier.
• Net loss attributable to common stockholders was 184.5 million yuan ($27.6 million), compared with a net profit of 8.2 million yuan a year earlier.
• As of June 30, 2022, Monster Charge had cash and cash equivalents, restricted cash, and short-term investments of 2.9 billion yuan (approximately $431.3 million).
  

Performance Outlook:

• Monster Charge expects that revenue in the third quarter of 2022 will reach 770 million to 800 million yuan.