Phoenix Tree Holdings Limited (DNK) Reports Q4 Loss of $0.53 on Revenues of $305.9M

Phoenix Tree Holdings Limited (NYSE: DNK) reported Q4 EPS of ($0.53). Revenue for the quarter came in at $305.9 million.

For the Quarter Ended December 31, 2019:

• Revenues increased 112.5% to RMB2,129.3 million (US$305.9 million) from RMB1,002.0 million.
• Net loss was RMB921.0 million (US$132.3 million) compared to RMB556.8 million. Net margin improved by 12.3 percentage points.
• Adjusted EBITDA[1] was negative RMB461.0 million (US$66.2 million) compared to negative RMB349.2 million. Adjusted EBITDA margin improved by 13.2 percentage points.
• The number of apartment units operated increased 85.4% to 438,309 units as of December 31, 2019, from 236,420 units as of December 31, 2018.

"We are very pleased with our progress during this quarter and throughout the year. We experienced rapid growth in operating scale, with the number of apartment units increasing 85.4% year-over-year as of December 31, 2019. We expanded our presence to Suzhou, Wuxi, Xi'an, and Chongqing, for a total footprint of 13 cities, which further demonstrated our ability to duplicate our success across cities. These achievements drove revenue growth, which increased 112.5% year-over-year for the quarter and 166.5% year-over-year for 2019," said Mr. Jing Gao, Co-founder and Chief Executive Officer of Danke.

"With the coronavirus outbreak, we have experienced a challenging start to 2020. Our thoughts are with those affected by the virus, and we are doing what we can to protect the health and safety of our residents and employees. While continuing to monitor the rapidly evolving situation, we remain focused on our growth strategies of enhancing our technological capabilities, further expanding our scale, expanding and enhancing our product and service offerings, promoting our brand awareness and industry influence, and strengthening and expanding our ecosystem. We are optimistic about our ability to execute on these strategies and are confident in our ability to deliver long-term, sustainable value for our shareholders," concluded Mr. Gao.

BUSINESS OUTLOOK

Based on current market and operating conditions, the Company expects revenues for the first quarter of 2020 to be between RMB1,900 million and RMB2,000 million. This forecast reflects the Company's current and preliminary views, which is subject to change and substantial uncertainties, particularly in view of the potential impact of the novel coronavirus outbreak, the effects of which are difficult to analyze and predict.

For earnings history and earnings-related data on Phoenix Tree Holdings Limited (DNK) click here.

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