iClick Interactive Asia Group Limited (ICLK) Tops Q1 EPS by 0.65c, Revenues Beat; Offers 2Q & FY21 Revenues Guidance

iClick Interactive Asia Group Limited (NASDAQ: ICLK) reported Q1 EPS of $0.01, $0.01 better than the analyst estimate of $0.00. Revenue for the quarter came in at $66.56 million versus the consensus estimate of $61.34 million.

Jian "T.J." Tang, Chief Executive Officer and Co-Founder of iClick, said: "The momentum we enjoyed last year has continued into the first quarter of 2021. We recorded the highest revenue, gross profit, adjusted EBITDA and adjusted net income of any first quarter in our history. This strong set of results was driven by increasing demand for our data-driven solutions which are helping brands to connect effectively and efficiently with consumers amidst the offline-to-online digital transformation occurring in China, despite some lingering effects of the coronavirus pandemic on advertisement spending."

"Enterprise Solutions had record results for the sixth consecutive quarter with revenue of US$11.7 million representing 166% year-over-year growth, and Marketing Solutions maintained healthy growth, with revenues increasing by 23% year-over-year to US$54.8 million. We are pleased to share that Enterprise Solutions accounted for roughly 18% of our total revenue this past quarter, the highest percentage in our history, further demonstrating both the strong market demand and our solid execution capability. Furthermore, our adjusted EBITDA grew 54% and our adjusted net income grew 17% year-over-year, as we benefit from the operating leverage arising from the strong economies of scale in our Marketing Solutions business. Investing in and growing our SaaS-based Enterprise Solutions is a key strategic focus for this year and we are making good progress in meeting this objective.

"The pace of integration in our strategic partnership with Baozun continues to be encouraging and we are working on several pilot-case clients. Our joint goal is to offer a comprehensive private domain e-commerce solution consolidating iClick's front-end SaaS tools and data management capabilities with Baozun's core strengths in e-commerce operations and back-end infrastructure for key account clients looking to unlock the huge smart retail market in China. We expect the potential synergies of partnering with Baozun to be significant, and we are already enjoying some cross-selling success and exploring a number of target industry verticals.

"Penetrating the mid-end client segment is also a priority for 2021. To this end, we have already launched a series of SaaS-based standard products to address client needs for digital transformation. We have received positive initial feedback and look forward to accelerating our market penetration. We also recently introduced iSmartGo, a standard cross-border e-commerce solution to help foreign brands looking to tap into the enormous Chinese consumer market.

"We are very well positioned to capitalize on the ongoing digital transformation in China. With the help of our employees and the support of our shareholders, we expect to capture additional market share and continue to produce sustainable growth in the quarters ahead both organically and through strategic acquisitions and partnerships."

GUIDANCE:

iClick Interactive Asia Group Limited sees Q2 2021 revenue of $72-77 million, versus the consensus of $74.34 million.

iClick Interactive Asia Group Limited sees FY2021 revenue of $318-338 million, versus the consensus of $326.71 million.

Based on the information available as of the date of this press release, iClick provides the following outlook for the second quarter of 2021 and for the full year 2021:

Second Quarter 2021:

• Revenue is estimated to be between US$72 million and US$77 million.
• Revenue from Enterprise Solutions is estimated to be between US$12 million and US$13 million.

Full Year 2021:

• Revenue is revised upward to be between US$318 million and US$338 million.
• Revenue from Enterprise Solutions is revised upward to be between US$62 million and US$68 million.

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

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