MOGU Inc. (NYSE: MOGU) reported Q4 EPS of ($0.25). Revenue for the quarter came in at $13.9 million versus the consensus estimate of $48.99 million.

Fourth quarter Fiscal Year 2021 Financial Results

• Total revenues decreased by 23.6% to RMB90.9 million (US$13.9 million) from RMB119.0 million during the same quarter of fiscal year 2020.
  • Commission revenues decreased by 1.7% to RMB65.2 million (US$10.0 million) from RMB66.3 million in the same period of fiscal year 2020, primarily due to the restructuring of the Company’s business towards an LVB-focused model.
  • Marketing services revenuesdecreased by 34.5% to RMB11.9 million (US$1.8 million) from RMB18.2million in the same period of fiscal year 2020. The decrease was primarily due to the restructuring of the Company’s business towards an LVB-focused model.
  • Other revenues decreased by 60.2% to RMB13.7million (US$2.1 million) from RMB34.4 million in the same period of fiscal year 2020, primarily due to a decrease in online direct sales.
• Cost of revenues decreased by 35.4% to RMB37.9 million (US$5.8 million) from RMB58.6 million in the same period of fiscal year 2020, which was primarily due to a decrease in the costs associated with lower online direct sales.
• Sales and marketing expenses decreased by 44.5% to RMB43.4 million (US$6.6 million) from RMB78.2 million in the same period of fiscal year 2020, primarily due to optimized spending on branding and user acquisition activities.
• Research and development expenses decreased by 40.3% to RMB19.6 million (US$3.0 million) from RMB32.8 million in the same period of fiscal year 2020, primarily a result of headcount optimization.
• General and administrative expenses increased by 124.4% to RMB25.7 million (US$3.9 million) from RMB11.5 million in the same period of fiscal year 2020, primarily due to the reversal of share-based compensation expenses in the fourth quarter of fiscal year 2020.
• Amortization of intangible assets decreased by 5.7% to RMB82.1 million (US$12.5 million) from RMB87.1 million in the same period of fiscal year 2020.
• Loss from operations was RMB110.3 million (US$16.8 million), compared to loss from operations of RMB149.1 million in the same period of fiscal year 2020.
• Net loss attributable to MOGU Inc.’s ordinary shareholders was RMB108.6 million (US$16.6 million), compared to a net loss attributable to MOGU Inc’s ordinary shareholders of RMB141.9 million in the same period of fiscal year 2020.
• Adjusted EBITDA3 was negative RMB20.1 million (US$3.1 million), compared to negative RMB83.6 million in the same period of fiscal year 2020.
• Adjusted net loss4 was RMB16.4 million (US$2.5million), compared to adjusted net loss of RMB79.3 million in the same period of fiscal year 2020.
• Basic and diluted loss per ADS were RMB1.07 (US$0.25) and RMB1.07 (US$0.25), respectively, compared with RMB1.30 and RMB1.30, respectively, in the same period of fiscal year 2020. One ADS represents 25 Class A ordinary shares.
• Cash and cash equivalents, Restricted cash and Short-term investments were RMB803.1 million (US$122.6 million) as of March 31, 2021, compared with RMB1,095.4 million as of March 31, 2020.

"Live eCommerce GMV grew by 42.0% year-over-year, and accounted for 87.2% of our total GMV during the quarter." said Chen Qi, Chairman and Chief Executive Officer of MOGU. " Looking forward, we are confident on the growth of our overall user retention rate and ARPU, as MOGU live continues to be a key growth driver and the main revenue contributor."

"Our Net Loss and adjusted EBITDA of fiscal year 2021 improved remarkably by 85.3% and 83.9% respectively. Net Loss decreased from negative RMB2,223.6 million to negative RMB328.0 million, and adjusted EBITDA decreased from negative RMB320.1 million to negative RMB51.5 million. This showcases the positive effect from our efforts to optimize customer acquisition and operating efficiency. " added by Mr. Raymond Huang, Chief Strategy Officer. " We will continue to execute on our disciplined strategy of investing in our growth and bringing new innovations to our users’ live ecommerce experiences."

For earnings history and earnings-related data on MOGU Inc. (MOGU) click here.