{"id":390009,"date":"2020-11-30T16:53:32","date_gmt":"2020-11-30T21:53:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=390009"},"modified":"2020-11-30T16:53:32","modified_gmt":"2020-11-30T21:53:32","slug":"iclick-interactive-asia-group-limited-enterprise-solutions-business-extends","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/iclick-interactive-asia-group-limited-enterprise-solutions-business-extends\/","title":{"rendered":"iClick Interactive Asia Group Limited &#8211; Enterprise Solutions Business Extends"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">Nov. 30, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0Record-Breaking Growth iClick (Nasdaq: ICLK) released its quarterly earnings ended <span class=\"xn-chron\">September 30, 2020<\/span> on <span class=\"xn-chron\">November 24<\/span>. The company&#8217;s high-margin SaaS Enterprise Solutions business has been enjoying very strong market demand since the announcement of its <span class=\"xn-money\">Tencent<\/span> partnership. Riding on the strong momentum, the Enterprise Solutions segment reported record-breaking growth for the fourth consecutive quarter in the third quarter of 2020.<\/p>\n<p>\n        <b>3Q-2020 Earnings Highlights<\/b>\n      <\/p>\n<p>Returned record revenue and gross profit, marking fourth consecutive quarter of sequential growth in the Enterprise Solutions segment. <\/p>\n<p>Adjusted EBITDA increased by 225% year-over-year, and marked the fourth consecutive quarter of positive adjusted net income.<\/p>\n<p>Well-capitalized cash position to enable business plan execution and active M&amp;A strategy.<\/p>\n<p>\n        <b>Business Update &amp; Outlook\u00a0 <\/b>\n      <\/p>\n<p>Share Repurchase Program &#8211; As of <span class=\"xn-chron\">September 30, 2020<\/span>, iClick has purchased the company&#8217;s shares for an aggregate value of <span class=\"xn-money\">US$0.7 million<\/span>, since the management announced a share repurchase program on <span class=\"xn-chron\">January 15, 2020<\/span>, in which it may purchase up to <span class=\"xn-money\">US$10 million<\/span> worth of its own ADS over the 12-month period ending on <span class=\"xn-chron\">December 29, 2020<\/span>.<\/p>\n<p>For the fourth quarter of 2020, management expects the company&#8217;s revenue to range between <span class=\"xn-money\">US$73 million<\/span> and <span class=\"xn-money\">US$76 million<\/span>, or a quarter-over-quarter increase of 6% -10%, and a year-over-year increase of 28% &#8211; 33%. Among which, Enterprise Solutions revenue is expected to range from <span class=\"xn-money\">US$8.5 million<\/span> to <span class=\"xn-money\">US$10.5 million<\/span>. Growth profit is expected to be between <span class=\"xn-money\">US$20.5 million<\/span> and <span class=\"xn-money\">US$23.5 million<\/span>, representing a year-over-growth of 20% &#8211; 38%.<\/p>\n<p>And for the full year of 2020, management expects its revenue to range between <span class=\"xn-money\">US$240 million<\/span> and <span class=\"xn-money\">US$260 million<\/span> (a YoY growth of 20% &#8211; 30%), gross profit to range between <span class=\"xn-money\">US$70<\/span> and 75 million (a YoY growth of 23% &#8211; 32%), and adjusted EBITDA to be between <span class=\"xn-money\">US$14 million<\/span> and <span class=\"xn-money\">US$17 million<\/span>, compared to adjusted EBITDA of <span class=\"xn-money\">US$6 million<\/span> in 2019.<\/p>\n<p>\n        <b>Third Quarter 2020 Results Details:<\/b>\n      <\/p>\n<p>\n        <b>Record-breaking growth in revenue from Enterprise Solutions business.<\/b>\n      <\/p>\n<p>Total revenue grew ~27% year-over-year to <span class=\"xn-money\">US$68.9 million<\/span>, attributable to the increase in contributions from existing Marketing Solutions, and especially from Enterprise Solutions.<\/p>\n<p>Marketing Solutions revenue grew 17% year-over-year to <span class=\"xn-money\">US$60 million<\/span>, and Enterprise Solutions revenue grow 236% year-over-year to <span class=\"xn-money\">US$8.8 million<\/span>, mainly resulting from the increasing integration need for online and offline consumers&#8217; behavioral data. <\/p>\n<p>Growth billing was <span class=\"xn-money\">US$167.1 million<\/span>, representing a 7% year-over-year decrease. The decrease was primarily due to the Company&#8217;s efforts to optimize its client base, in order to achieve better credit control and to retain and\/or attract financially sound customers amid uncertain macroeconomic environment.<\/p>\n<p>\n        <b>Significant year-over-year growth in adjusted EBITDA and net income.<\/b>\n      <\/p>\n<p>Gross profit grew 48% year-over-year to <span class=\"xn-money\">US$20 million<\/span>, primarily owing to continual expansion of Marketing Solutions and increasing contribution from the higher-margin Enterprise Solutions.<\/p>\n<p>The company reported adjusted EBITDA of <span class=\"xn-money\">US$4.7 million<\/span>, increased 225% year-over-year, mainly due to strong gross profit growth. Though the net loss totaled <span class=\"xn-money\">US$7 million<\/span>, mainly due to the fair value losses in convertible notes of <span class=\"xn-money\">US$1.4 million<\/span> and in derivative liabilities of <span class=\"xn-money\">US$6.3 million<\/span>, &#8220;adjusted&#8221; net income was <span class=\"xn-money\">US$2.4 million<\/span>, up from <span class=\"xn-money\">US$0.5 million<\/span> from a year ago, which marked the fourth consecutive quarter of positive adjusted net income. <\/p>\n<p>\n        <b>Strong cash flow position allowing business expansion and the pursuit of M&amp;A opportunities. <\/b>\n      <\/p>\n<p>iClick&#8217;s cash position has further enhanced following the equity financing in September.\u00a0 As of <span class=\"xn-chron\">September 30, 2020<\/span>, the Company had cash and cash equivalents, time deposits and restricted cash of <span class=\"xn-money\">US$128 million<\/span>, more than doubled from <span class=\"xn-money\">US$61 million<\/span> as of <span class=\"xn-chron\">Dec. 31, 2019<\/span>.<\/p>\n<p>The Company is well-capitalized, not only able to better execute its business plan, but also able to actively seek M&amp;A opportunities as part of its long-term growth strategies.<\/p>\n<p>DISCLOSURES AND DISCLAIMERS<\/p>\n<p>Stone Street Group LLC (&#8220;<span class=\"xn-person\">Stone Street<\/span>&#8220;) publishes research reports on publicly-traded companies. <span class=\"xn-person\">Stone Street<\/span> has been retained by the company discussed in this report (the &#8220;Company&#8221;) to provide ongoing digital investor relations services, including the creation and dissemination of this report. All research published by <span class=\"xn-person\">Stone Street<\/span> is based on public information, or on information from the Company that the Company is required to promptly make public.<\/p>\n<p>\n        <span class=\"xn-person\">Stone Street<\/span> is not a broker-dealer or a &#8220;covered person&#8221; under SEC Regulation AC, and does not distribute its research through a registered broker-dealer or any associated person of a registered broker-dealer. Accordingly, <span class=\"xn-person\">Stone Street<\/span> is exempt from the provisions of Regulation AC. Nevertheless, <span class=\"xn-person\">Stone Street<\/span> makes the following voluntary disclosures and disclaimers in connection with its research reports:<\/p>\n<p>NO GUARANTEE:\u00a0 This research report is not a substitute for the exercise of an investor&#8217;s independent due diligence and independent investment determinations. Information contained herein is based on sources we believe to be reliable but we do not guarantee their accuracy. It should be presumed that the analyst who authored this report has had discussions with the Company to endeavor to ensure factual accuracy prior to publication, however, no independent due diligence or verification has been undertaken by the analyst.\u00a0 No endorsements are made in respect of information provided or published by the subject Company and relied upon by the analyst for purposes of this research report. Recipients of this report should consider this report as only one factor in making any investment decision. This report is for information purposes only and is not intended as an offer to sell or a solicitation to buy securities.\u00a0 Any and all information provided by the Company which has been publicly disclosed as &#8220;forward looking information&#8221; remains subject to all uncertainties in such regard and <span class=\"xn-person\">Stone Street<\/span> makes no assurances or guaranties of actual outcomes.\u00a0 <\/p>\n<p>NO CONFLICTS OF INTEREST:\u00a0 <span class=\"xn-person\">Stone Street<\/span> does NOT own securities of the issuers described herein, and <span class=\"xn-person\">Stone Street<\/span> does not make a market in any securities. <span class=\"xn-person\">Stone Street<\/span> does not engage in, or receive compensation from, any investment banking or corporate finance-related activities with the company discussed in the report. <span class=\"xn-person\">Stone Street&#8217;s<\/span> contracts with issuers protect <span class=\"xn-person\">Stone Street&#8217;s<\/span> full editorial control of all research, timing of release of reports, and release from liability for negative reports. <\/p>\n<p>ANALYST INDEPENDENCE:\u00a0 Each Stone Street analyst has full discretion on the analysis and revenue targets contained in the report, based on his or her own due diligence. Analysts are paid in part based on overall profitability of Stone Street. No part of analyst compensation was, or will be, directly or indirectly, related to the specific recommendations or views expressed in any report or article. <span class=\"xn-person\">Stone Street<\/span> policy does not allow an analyst or a member of their household (i) to own, trade, or have any beneficial interest in any securities of any company that analyst covers, or (ii) serve as an officer or director of a covered company. <\/p>\n<p>RISK FACTORS:\u00a0 Earnings targets and opinions concerning the composition of market sectors included in this report reflect analyst judgments as of this date and are subject to change without notice. A risk to our earnings targets is that the analyst&#8217;s estimates or forecasts may not be met. This report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from such forward-looking statements. Factors that may cause such differences include, but are not limited to, those discussed in the &#8220;Risk Factors&#8221; section in the issuer&#8217;s SEC filings available in electronic format through SEC Edgar filings at <a href=\"http:\/\/www.sec.gov\" rel=\"nofollow\">www.sec.gov<\/a>. <\/p>\n<p>COMPENSATION:\u00a0 <span class=\"xn-person\">Stone Street<\/span> received a flat fee from or on behalf of the Company for the creation and dissemination of the report. <span class=\"xn-person\">Stone Street<\/span> has not received investment banking income from the Company in the past 12 months, and does not expect to receive investment banking income from the Company in the next 12 months.<\/p>\n<p>ANALYST CERTIFICATION:\u00a0 The research analyst certifies that this report accurately reflects his\/her personal views about the Company&#8217;s securities that none of the research analyst&#8217;s compensation was, is or will be, directly or indirectly, related to the analyst&#8217;s specific recommendations or views contained in this research report.<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NE06553&amp;sd=2020-11-30\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/iclick-interactive-asia-group-limited---enterprise-solutions-business-extends-301181857.html\">http:\/\/www.prnewswire.com\/news-releases\/iclick-interactive-asia-group-limited&#8212;enterprise-solutions-business-extends-301181857.html<\/a><\/p>\n<p>SOURCE  iClick Interactive Asia Group Limited<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NE06553&amp;Transmission_Id=202011301650PR_NEWS_USPR_____NE06553&amp;DateId=20201130\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire NEW YORK, Nov. 30, 2020 \/PRNewswire\/ &#8212;\u00a0Record-Breaking Growth iClick (Nasdaq: ICLK) released its quarterly earnings ended September 30, 2020 on November 24. The company&#8217;s high-margin SaaS Enterprise Solutions business has been enjoying very strong market demand since the announcement of its Tencent partnership. Riding on the strong momentum, the Enterprise Solutions segment reported record-breaking growth for the fourth consecutive quarter in the third quarter of 2020. 3Q-2020 Earnings Highlights Returned record revenue and gross profit, marking fourth consecutive quarter of sequential growth in the Enterprise Solutions segment. Adjusted EBITDA increased by 225% year-over-year, and marked the fourth consecutive quarter of positive adjusted net income. Well-capitalized cash position to enable business plan execution and active M&amp;A strategy. Business Update &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iclick-interactive-asia-group-limited-enterprise-solutions-business-extends\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;iClick Interactive Asia Group Limited &#8211; Enterprise Solutions Business Extends&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-390009","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>iClick Interactive Asia Group Limited - Enterprise Solutions Business Extends - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iclick-interactive-asia-group-limited-enterprise-solutions-business-extends\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"iClick Interactive Asia Group Limited - Enterprise Solutions Business Extends - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NEW YORK, Nov. 30, 2020 \/PRNewswire\/ &#8212;\u00a0Record-Breaking Growth iClick (Nasdaq: ICLK) released its quarterly earnings ended September 30, 2020 on November 24. The company&#8217;s high-margin SaaS Enterprise Solutions business has been enjoying very strong market demand since the announcement of its Tencent partnership. Riding on the strong momentum, the Enterprise Solutions segment reported record-breaking growth for the fourth consecutive quarter in the third quarter of 2020. 3Q-2020 Earnings Highlights Returned record revenue and gross profit, marking fourth consecutive quarter of sequential growth in the Enterprise Solutions segment. Adjusted EBITDA increased by 225% year-over-year, and marked the fourth consecutive quarter of positive adjusted net income. Well-capitalized cash position to enable business plan execution and active M&amp;A strategy. 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The company&#8217;s high-margin SaaS Enterprise Solutions business has been enjoying very strong market demand since the announcement of its Tencent partnership. Riding on the strong momentum, the Enterprise Solutions segment reported record-breaking growth for the fourth consecutive quarter in the third quarter of 2020. 3Q-2020 Earnings Highlights Returned record revenue and gross profit, marking fourth consecutive quarter of sequential growth in the Enterprise Solutions segment. Adjusted EBITDA increased by 225% year-over-year, and marked the fourth consecutive quarter of positive adjusted net income. Well-capitalized cash position to enable business plan execution and active M&amp;A strategy. 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