Boqii Holding Limited (NYSE: BQ) reported Q3 EPS of $0.25, $0.38 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $48 million versus the consensus estimate of $45.73 million.

Fiscal Q3 2021 Operational and Financial Highlights

• Total revenues were RMB312.9 million (US$48.0 million), an increase of 23.2% from RMB254.1 million in the same quarter of fiscal year 2020.
• Net loss was RMB81.9 million (US$12.6 million), compared to net loss of RMB56.4 million in the same quarter of fiscal year 2020.
• Adjusted net loss was RMB30.5 million (US$4.7million), representing a decrease of 49.8% from the adjusted net loss of RMB60.8 million in the same quarter of fiscal year 2020.
• EBITDA[1] was a loss of RMB79.2 million (US$12.1 million), representing a 109.2% setback from a loss of RMB37.9 million in the same quarter of fiscal year 2020.
• Total GMV[2] was RMB763.8 million (US$117.1 million), an increase of 51.5% from RMB504.0 million in the same quarter of fiscal year 2020.
• Active buyers were 1.5 million, an increase of 21.0% from 1.3 million in the same quarter of fiscal year 2020.

CEO & CFO Quote

"Solid Q3 results were a testament to Boqii's relentless efforts on execution and user engagement," said Mr. Hao Liang, Boqii's Founder, Chairman and Chief Executive Officer. "We continued to influence pet parents with an extensive and appealing selection of content and products, fostering stronger user bonding and stickiness. We endeavor to build a pet ecosystem that provides full lifecycle coverage and a seamlessly integrated online and offline channel that offers an unparalleled customer experience."

Ms. Yingzhi (Lisa) Tang, Boqii's Co-Founder, Co-CEO and CFO commented: "We had another strong quarter, generating solid operational and financial results. Total revenues grew 23.2% year over year to RMB312.9 million. Adjusted net loss improved significantly from RMB60.8 million in the same quarter of last fiscal year to RMB30.5 million. Notably, during the quarter we considerably improved our operating efficiency, manifested in lower fulfillment cost and reduced inventory turnover days. As a result, our adjusted net loss decreased by 49.8% year-on-year to RMB30.5 million. These results demonstrated our strong execution and potential to translate promising topline growth to profitability. Looking ahead, we will continue to drive rapid growth by expanding user reach and providing all-round user care. This will deliver differentiated growth by attracting high value customers in a large growing addressable market, thus further consolidating our position as an industry leader."

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