iClick Interactive Asia Group Limited (ICLK) Misses Q4 EPS by 9c, Revenues Beat; Offers FY20 Revenue Guidance Above Consensus, 1Q Revenue Mid-Point Views Above Consensus

iClick Interactive Asia Group Limited (NASDAQ: ICLK) reported Q4 EPS of ($0.10), $0.09 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $56.7 million versus the consensus estimate of $56.21 million.

Jian "T.J." Tang, Chief Executive Officer and Co-Founder of iClick noted: "2019 was a record year for iClick as we continue to migrate our services to an integrated Enterprise and Marketing Cloud Platform in China. Our business achieved record results in gross billings, revenues, gross profit and adjusted EBITDA. More importantly, for the first-time ever, we reported quarterly adjusted net income in the fourth quarter of 2019.

"A key highlight of 2019 was the launch of our Enterprise Solutions business. This is a major initiative that will serve to strengthen our company for years to come by diversifying our product offerings, providing new revenue opportunities that will also drive higher gross margins. In our first full year of operations, our Enterprise Solutions division reported $10.4 million in revenues, which we project to increase substantially in 2020.

Another key accomplishment was our recent announcement to get new credit facilities from HSBC and the introduction of new strategic and financial investors which shall support our future growth. Lastly, in 2019 we celebrated our tenth anniversary, which sees us transform from a small start-up to a cutting-edge marketing technology company in China. We are very proud of what we have achieved."

"While we expect our business to continue growing rapidly, there is a unique set of macro challenges in 2020. We face not only the ongoing US-China trade conflicts but also the recent Coronavirus outbreak. Currently, we are doing everything we can to help protect the health and well-being of our employees. We are closely monitoring the outbreak's impact on our operations and financial results and our outlook remains cautiously optimistic. We are increasing our recently announced 2020 full-year revenue guidance range, from $240 million to $260 million range, primarily because we believe that more brands are seeing the greater importance of online-to-offline integration and we are confident that this will serve to increase the demand for our Enterprise Solutions in the second half of 2020."

GUIDANCE:

iClick Interactive Asia Group Limited sees Q1 2020 revenue of $46-50 million, versus the consensus of $46.17 million.

iClick Interactive Asia Group Limited sees FY2020 revenue of $240-260 million, versus the consensus of $239.76 million.

Based on the information available as of the date of this press release, iClick provided the following outlook for the first quarter of 2020 and the following outlook for the 2020 full year:

First Quarter 2020:

• Revenue is estimated to be between US$46 million and US$50 million.
• Gross profit is estimated to be between US$12 million and US$14 million.

Full Year 2020:

• Revenue is estimated to be between US$240 million and US$260 million.
• Gross profit is estimated to be between US$70 million and US$75 million.
• Adjusted EBIDTA is estimated to between $5 million and $8 million.

For earnings history and earnings-related data on iClick Interactive Asia Group Limited (ICLK) click here.

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