UPDATE: Aesthetic Medical International Holdings Group (AIH) Misses Q1 EPS by 20c, Revenues Beat

(Updated - September 25, 2020 6:20 AM EDT)

Aesthetic Medical International Holdings Group (NASDAQ: AIH) reported Q1 EPS of ($0.13), $0.20 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $23.6 million versus the consensus estimate of $21.79 million.

Second Quarter 2020 Unaudited Financial Highlights

• Total revenue was RMB166.7 million (US$23.6 million), a decrease of 21.4% from RMB212.2 million in the second quarter of 2019.
• Gross profit was RMB95.2 million (US$13.5 million), a decrease of 34.5% from RMB145.3 million in the second quarter of 2019.
• Gross margin was 57.1%, a decrease of 11.4 percentage points from 68.5% in the second quarter of 2019.
• Loss for the period was RMB64.4 million (US$9.1 million), compared with a profit of RMB57.5 million in the second quarter of 2019.
• EBITDA1 for the period was a loss of RMB34.3 million (US$4.9 million), a decrease of 138.5% from a profit of RMB89.2 million in the second quarter of 2019.
• Adjusted profit1 for the period was a loss of RMB31.1 million (US$4.4 million), a decrease of 317.5% from a profit of RMB14.3 million in the second quarter of 2019.
• Adjusted EBITDA1 for the period was a loss of RMB1.0 million (US$0.1 million), a decrease of 102.2% from a profit of RMB44.9 million in the second quarter of 2019.
• Basic loss per share was RMB0.95 (US$0.1), compared with basic earnings per share of RMB1.37 in the second quarter of 2019. Diluted loss per share was RMB0.95 (US$0.1), compared with diluted loss per share of RMB0.03 in the second quarter of 2019.

Dr. Zhou Pengwu, the Chairman and CEO of the Company, commented, “In the second quarter, in light of the enduring adverse impact of the COVID-19 pandemic to the consumer sentiment and restrictions on general mobility in parts of China, we have been actively adjusting our business operations to adapt to the new normal. We took timely and proactive measures, including implementing control measures to limit the customer-flow and ensuring the health and safety of our customers, employees and their families even though these measures may affect our operations and financials in a short-term. We made significant progress in keeping our business operations resilient, expanding our customer base and laying a solid foundation to deliver solid performance in the future. For the second quarter of 2020, we recorded a total number of active customers of 66,344, achieving an increase of 13.9% from 58,234 in the second quarter of 2019.”

Dr. Zhou continued, “Apart from monitoring the latest developments of COVID-19 pandemic and taking appropriate response measures accordingly, we will continue to focus our resources on enhancing our customer stickiness and improving our brand awareness to expand in our addressable market. In addition, we will continue to implement our acquisition strategy to enhance our capabilities and increase our customer base for the next phase of growth. We are confident about our ability in maintaining our healthy and sustainable growth and generating long-term value for our shareholders.”

For earnings history and earnings-related data on Kaire Holdings, Inc. (AIH) click here.

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