Scienjoy Holding Corporation (NASDAQ: SJ), a leading live entertainment mobile streaming platform in China, today announced select preliminary estimated unaudited financial results for the first quarter ended March 31, 2021.
First Quarter 2021 Preliminary Results
- Total net revenues are expected to be in the range of RMB335 million to RMB357 million, representing a year-over-year increase between 55% to 65%.
- Adjusted Net Income is expected to be in the range of RMB72 million to RMB75 million, representing a year-over-year increase between 90% to 100%.
| “Adjusted net income” is defined as net income excluding change in fair value of contingent consideration and warrant liabilities. For more information, refer to “Use of Non-GAAP Financial Measures” at the end of this press release.|
“These preliminary first quarter metrics highlight our solid sequential revenue growth, steady improvements to profitability, and strong business fundamentals,” said Victor He, Chairman and Chief Executive Officer of Scienjoy. “During the quarter, as a result of our efforts to upgrade our platforms, advance our R&D capabilities, and refine our platform operations, we continued to attract and retain more users and broadcasters throughout our entertainment livestreaming ecosystem. Looking ahead, we remain committed to increasing engagement on our platforms and recognizing the significant potential of emerging technologies, such as augmented reality, virtual reality, NFTs, and more. As such, we plan to continue exploring these use cases to unlock new development opportunities, grow our platform communities, and deliver lasting shareholder value.”
These select preliminary unaudited financial results are based upon information available to the Company as of the date of this press release and subject to change in connection with the Company’s financial closing procedures and finalization of the Company’s financial statements for the first quarter ended March 31, 2021. The Company’s actual results may vary materially from these estimates. In addition, the Company’s independent registered public accounting firm has not audited or reviewed, and does not express an opinion with respect to, this preliminary data. Accordingly, these estimates should not be viewed as a substitute for the Company’s full interim financial statements.
About Scienjoy Holding Corporation
Founded in 2011, Scienjoy is a leading mobile livestreaming platform in China, and its core mission is to build a livestreaming service matrix that delivers pleasant experiences to users. With approximately 250 million registered users, Scienjoy currently operates four brands of livestreaming platforms, consisting of Showself, Lehai, Haixiu, and BeeLive (including Mifeng [Chinese version] and BeeLive International [international version]). Scienjoy adopts multi-platform operation strategies and is committed to providing high-quality and value-added services for users with innovative thinking. Based on in-depth knowledge and research of the livestreaming industry and user behavior, Scienjoy is devoted to building fully-immersive virtual reality worlds in which the virtual world and reality are integrated within the livestreaming scenario, deeply integrating the industry through diversified live broadcasting scenarios, and empowering the industry by building a content-rich and vibrant Livestreaming Full Ecosystem.