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Aurora Mobile Limited (JG) stock rises today: Things You need to know

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Aurora Mobile Limited (JG) announced its fourth quarter and fiscal year 2020 unaudited results after which added hype in the JG stock price as it was pushed by 5.55% to reach $6.83 a share as of this writing. Aurora stock was green with a 5.55% gain and a $6.28 per share price at the previous closing. So what you need to know now?

Fourth-quarter financial results of 2020

  • Aurora stock recorded RMB76.6 million revenue from the SAAS business with 17% YoY and quarter over quarter increase while its RMB106.0 million overall revenue decreased by 42% YoY and 2% quarter over quarter.
  • Gross profit for SAAS business surged to RMB58.7 million with a 28% increase over the year and 20% increase quarter over quarter while the overall gross profit was RMB60.1 million with a 0.5% decrease over the year.
  • Gross Margin for SAAS business was 76.6% as compared to 70.3% in the same tenure of the previous year.
  • Operating expenses have shown a 3% increase over the year to reach RMB106.5 million for the whole business.
  • Net loss reached RMB89.9 million in the fourth quarter of 2020 as compared to RMB40.2 million in the same period in 2019.
  • Adjusted net loss in the fourth quarter was RMB29.4 million as compared to RMB20.9 million in the same quarter of the previous year while adjusted EBITDA was negative RMB17.1 million as compared to negative RMB8.8 million in the fourth quarter of 2019.

The fiscal Year 2020 Results:

  • For SAAS business, JG stock generated RMB258.0 million revenue with a 21% increase over the year while overall business revenue decreased by 48% to drop RMB471.6 million over the year.
  • Gross profit for SAAS business of JG stock surged to RMB194.7 with a 24% increase over the year while the overall gross profit was RMB206.2 million with a 0.5% decrease over the year.
  • Operating expenses have shown a 2% decrease over the year to dropRMB396.0 million for the whole business.
  • Net loss surged RMB225.1 million in  2020 as compared to RMB109.8 million in 2019
  • The adjusted net loss in 2020 was RMB141.6 million as compared to RMB73.6 million in the previous year while adjusted EBITDA was negative RMB87.7million as compared to negative RMB29.7million in 2019.

Conclusion

The Aurora stock is rising today despite a decrease in overall business revenue reported in its earnings result. However JG stock has shown much growth in the quarterly and yearly revenue of its SAAS business. Aurora has launched many heavy-weight products in 2020 and completely transitioned its business to the SaaS model. JG stock is growing with time owing to its recent developments which also include a partnership with BitDeer, the world’s largest crypto mining platform. Hence JG can be a good bet for investors in the future.

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