Scienjoy Holding Corporation Reports Unaudited First Quarter 2026 Financial Results
Net Income up to
First Quarter 2026 Operating and Financial Summaries
- Total revenues decreased to
RMB282.6 million (US$41.0 million ) in the first quarter of 2026 fromRMB307.3 million as compared to the same period in 2025.
- Gross profit decreased to
RMB50.2 million (US$7.3 million ) in the first quarter of 2026 fromRMB59.5 million as compared to the same period in 2025. Gross margin decreased to 17.7% in the first quarter of 2026 from 19.4% as compared to the same period in 2025.
- Income from operations decreased to
RMB11.3 million (US$1.6 million ) in the first quarter of 2026 fromRMB13.7 million as compared to the same period in 2025.
- Net income was
RMB7.6 million (US$1.1 million ) in the first quarter of 2026, as compared to a net loss ofRMB13.0 million in the same period of 2025.
- Net income attributable to the Company's shareholders was
RMB8.9 million (US$1.3 million ) in the first quarter of 2026, as compared to a net loss attributable to the Company's shareholders ofRMB9.1 million in the same period of 2025.
- Adjusted net income attributable to the Company's shareholders was
RMB9.4 million (US$1.4 million ) in the first quarter of 2026, as compared to a net loss adjusted attributable to the Company's shareholders ofRMB5.5 million in the same period of 2025.
- As of
March 31, 2026 , the Company hadRMB326.3 million (US$47.3 million ) in cash and cash equivalents, which represented an increase ofRMB18.7 million fromRMB307.7 million as ofDecember 31, 2025 .
Mr.
At the same time, we are accelerating our AI strategy across both consumer and enterprise markets. Through AI Vista Live!, which was upgraded from AI Vista, and our broader AI initiatives, Scienjoy is positioning itself as an AI enabler, transforming advanced technologies into practical, interactive, and commercially scalable applications. We remain focused on optimizing our current cash-generating businesses while building AI-driven growth engines with the potential to expand our addressable market and create long-term shareholder value."
Mr.
We maintained prudent expense controls while continually invested in R&D, which reflects our balanced approach to preserving profitability in our core live streaming business and investing in AI capabilities for future growth. With cash and cash equivalents increasing to
First Quarter 2026 Financial Results
Total revenues decreased to
Cost of revenues decreased to
Gross profit decreased to
Total operating expenses decreased to
- Sales and marketing expenses decreased to
RMB0.9 million (US$0.1 million ) in the first quarter of 2026 fromRMB2.1 million as compared to the same period in 2025, primarily attributable to less marketing activities.
- General and administrative expenses decreased to
RMB18.3 million (US$2.7 million ) in the first quarter of 2026 fromRMB23.4 million as compared to the same period in 2025. The decrease was primarily due to a decrease ofRMB3.1 million in professional consultant fee and a decrease ofRMB1.7 million in amortization of intangible assets.
- Research and development expenses were approximately the same at
RMB19.6 million (US$2.8 million ) in the first quarter of 2026 and 2025.
- Provision for credit losses decreased to
RMB0.01 million (US$0.001 million ) in the first quarter of 2026 fromRMB0.8 million as compared to the same period in 2025, due to improved collection.
Income from operations decreased to
Change in fair value of investment in marketable security decreased to loss of
Investments income amounted to
Interest income, net increased by 22.4% to
Other income, net decreased to
Foreign exchange loss was
Net income was
Net income attributable to the Company's shareholders was
Adjusted net income attributable to the Company's shareholders was
Basic and diluted net income attributable to the Company's shareholders per ordinary share were both
Adjusted basic and diluted net income attributable to the Company's shareholders per ordinary share were both
As of
Use of Non-GAAP Financial Measures
Adjusted net income attributable to the Company's shareholders is calculated as net income attributable to the Company's shareholders adjusted for share-based compensation. Adjusted basic and diluted net income per ordinary share is non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share. The non-GAAP financial measures are presented to enhance investors' overall understanding of the Company's financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with
For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of Non-GAAP Results" near the end of this release.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into
About Scienjoy Holding Corporation
Scienjoy is a pioneering Nasdaq-listed interactive entertainment leader. Driven by the vision of shaping a metaverse lifestyle, Scienjoy leverages AI-powered technology to create immersive experiences that resonate with global audiences, fostering meaningful connections and redefining entertainment. For more information, please visit http://ir.scienjoy.com/.
Safe Harbor Statement
Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission ("SEC") from time to time. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.
For investor and media inquiries, please contact:
Investor Relations Contacts
Chief Financial Officer
Scienjoy Holding Corporation
+86-10-64428188
[email protected]
Ascent Investor Relations LLC
+1-646-932-7242
[email protected]
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||
(All amounts in thousands, except share and per share data or otherwise stated) | ||||||||||||
As of | As of | |||||||||||
2025 | 2026 | 2026 | ||||||||||
RMB | RMB | US$ | ||||||||||
ASSETS | ||||||||||||
Current assets | ||||||||||||
Cash and cash equivalents | 307,650 | 326,328 | 47,308 | |||||||||
Accounts receivable, net | 43,290 | 42,956 | 6,227 | |||||||||
Due from a related party | 100 | 200 | 29 | |||||||||
Investment in marketable security | 8,561 | 7,107 | 1,030 | |||||||||
Prepaid expenses and other current assets | 23,607 | 22,541 | 3,268 | |||||||||
Total current assets | 383,208 | 399,132 | 57,862 | |||||||||
Non-current assets | ||||||||||||
Property and equipment, net | 2,244 | 2,133 | 309 | |||||||||
Intangible assets, net | - | 3 | - | |||||||||
Long term investments | 271,261 | 270,669 | 39,239 | |||||||||
Long term deposits and other assets | 1,741 | 2,112 | 306 | |||||||||
Right-of-use assets-operating lease | 14,695 | 13,263 | 1,923 | |||||||||
Deferred tax assets | 37,288 | 37,311 | 5,409 | |||||||||
Total non-current assets | 327,229 | 325,491 | 47,186 | |||||||||
TOTAL ASSETS | 710,437 | 724,623 | 105,048 | |||||||||
LIABILITIES AND EQUITY | ||||||||||||
Current liabilities | ||||||||||||
Accounts payable | 16,665 | 23,902 | 3,464 | |||||||||
Deferred revenue | 50,464 | 49,693 | 7,204 | |||||||||
Accrued salary and employee benefits | 15,184 | 18,015 | 2,612 | |||||||||
Income tax payable | 10,899 | 12,600 | 1,827 | |||||||||
Lease liabilities-operating lease -current | 3,641 | 3,132 | 454 | |||||||||
Accrued expenses and other current liabilities | 9,728 | 8,465 | 1,227 | |||||||||
Total current liabilities | 106,581 | 115,807 | 16,788 | |||||||||
Non-current liabilities | ||||||||||||
Lease liabilities-operating lease -non-current | 10,399 | 9,592 | 1,391 | |||||||||
Total non-current liabilities | 10,399 | 9,592 | 1,391 | |||||||||
TOTAL LIABILITIES | 116,980 | 125,399 | 18,179 | |||||||||
Commitments and contingencies | ||||||||||||
EQUITY | ||||||||||||
Ordinary share, no par value, unlimited Class A ordinary shares and | ||||||||||||
Class A ordinary shares | 451,666 | 452,204 | 65,556 | |||||||||
Class B ordinary shares | 23,896 | 23,896 | 3,464 | |||||||||
Shares to be issued | 20,817 | 20,817 | 3,018 | |||||||||
Treasury stocks | (19,952) | (20,411) | (2,959) | |||||||||
Statutory reserves | 34,091 | 34,276 | 4,969 | |||||||||
Retained earnings | 92,024 | 100,714 | 14,600 | |||||||||
Accumulated other comprehensive income | 12,867 | 10,960 | 1,589 | |||||||||
Total shareholders' equity | 615,409 | 622,456 | 90,237 | |||||||||
Non-controlling interests | (21,952) | (23,232) | (3,368) | |||||||||
Total equity | 593,457 | 599,224 | 86,869 | |||||||||
TOTAL LIABILITIES AND EQUITY | 710,437 | 724,623 | 105,048 | |||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND | ||||||||||||
(All amounts in thousands, except share and per share data or otherwise stated) | ||||||||||||
For three months ended | ||||||||||||
2025 | 2026 | 2026 | ||||||||||
RMB | RMB | US$ | ||||||||||
Live streaming - consumable virtual items | 294,474 | 273,609 | 39,665 | |||||||||
Live streaming - time based virtual item revenue | 4,858 | 3,223 | 467 | |||||||||
Technical services and others | 8,003 | 5,791 | 840 | |||||||||
Total revenues | 307,335 | 282,623 | 40,972 | |||||||||
Cost of revenues | (247,842) | (232,469) | (33,701) | |||||||||
Gross profit | 59,493 | 50,154 | 7,271 | |||||||||
Sales and marketing expenses | (2,113) | (866) | (126) | |||||||||
General and administrative expenses | (23,352) | (18,328) | (2,657) | |||||||||
Research and development expenses | (19,562) | (19,637) | (2,847) | |||||||||
Provision for credit losses | (754) | (9) | (1) | |||||||||
Income from operations | 13,712 | 11,314 | 1,640 | |||||||||
Change in fair value of investment in marketable | (24,334) | (1,454) | (211) | |||||||||
Investment (loss) income | (412) | 139 | 20 | |||||||||
Interest income, net | 539 | 660 | 96 | |||||||||
Other income, net | 1,433 | 119 | 17 | |||||||||
Foreign exchange loss, net | (1,016) | (287) | (42) | |||||||||
(Loss) income before income taxes | (10,078) | 10,491 | 1,520 | |||||||||
Income tax expense | (2,880) | (2,934) | (425) | |||||||||
Net (loss) income | (12,958) | 7,557 | 1,095 | |||||||||
Less: net loss attributable to noncontrolling | (3,868) | (1,318) | (191) | |||||||||
Net (loss) income attributable to the | (9,090) | 8,875 | 1,286 | |||||||||
Other comprehensive income(loss): | ||||||||||||
Other comprehensive income (loss) - foreign | 323 | (1,869) | (271) | |||||||||
Comprehensive (loss) income | (12,635) | 5,688 | 824 | |||||||||
Less: comprehensive loss attributable to non- | (3,917) | (1,280) | (186) | |||||||||
Comprehensive (loss) income attributable to | (8,718) | 6,968 | 1,010 | |||||||||
Weighted average number of shares | ||||||||||||
Basic | 41,563,935 | 41,966,382 | 41,966,382 | |||||||||
Diluted | 41,563,935 | 41,966,382 | 41,966,382 | |||||||||
(Loss) earnings per share | ||||||||||||
Basic | (0.22) | 0.21 | 0.03 | |||||||||
Diluted | (0.22) | 0.21 | 0.03 | |||||||||
Reconciliations of Non-GAAP Results | ||||||||||||
(All amounts in thousands, except share and per share data or otherwise stated) | ||||||||||||
For the three months ended | ||||||||||||
2025 | 2026 | 2026 | ||||||||||
RMB | RMB | US$ | ||||||||||
Net (loss) income attributable to the Company's shareholders | (9,090) | 8,875 | 1,286 | |||||||||
Less: | ||||||||||||
Share based compensation | (3,575) | (538) | (78) | |||||||||
Adjusted net (loss) income attributable to the Company's | (5,515) | 9,413 | 1,364 | |||||||||
Adjusted net (loss) earnings per share | ||||||||||||
Basic | (0.13) | 0.22 | 0.03 | |||||||||
Diluted | (0.13) | 0.22 | 0.03 | |||||||||
"Adjusted net income attributable to the Company's shareholders" is defined as net income attributable to the | ||||||||||||
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SOURCE Scienjoy Holding Corporation