Q2 2024 Dada Nexus Ltd Earnings Call Transcript
Key Points
- Dada Nexus Ltd (DADA) reported over 100% year-on-year growth in monthly transacting users and orders through the JD app for JD NOW.
- Revenue growth for Dada Now exceeded 50% year over year in the first half of 2024.
- Non-GAAP net loss margin narrowed sequentially in the second quarter, improving by RMB53 million.
- The number of orders delivered by Dada Now in the second quarter rose 21% year on year to 679 million.
- Dada Now's net revenues increased by 47% year on year to RMB1.4 billion in the second quarter.
- Net revenues from JD NOW decreased due to a decrease in online advertising and marketing services revenues.
- Selling and marketing expenses decreased to RMB782 million, indicating a reduction in promotional activities.
- General and administrative expenses decreased to RMB48 million due to a decrease in amortization of intangible assets.
- Research and development expenses decreased to RMB85 million, mainly attributable to a decrease in research and development personnel costs.
- The company faced challenges in overall GMV and revenue growth in the short term due to business streamlining and adjustments.
Good morning, ladies and gentlemen, and thank you for standing by for Dada's second-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, today's conference call is being recorded.
I will now turn the meeting over to your host for today's call, Ms. Caroline Dong, Head of Investor Relations for Dada. Please proceed, Caroline.
Thank you, operator. Hello, everyone, and thank you for joining our second-quarter 2024 earnings conference call. On the call today from Dada, we have Mr. Henry Jun Mao, CFO. Mr. Mao will talk about our operation company highlights and the financials. We will be available to answer your questions during the Q&A session.
Before we begin, Iâd like to remind you that this conference call contains forward-looking statements. Please refer to our latest Safe Harbor statement in the earnings press release on our IR website, which applies to this call. Also, during this call, we'll discuss certain non-GAAP financial measures. Please also refer to our
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