The following is a summary of the 36Kr Holdings Inc. (KRKR) Q4 2023 Earnings Call Transcript:
Financial Performance:
36Kr reported an annual revenue of RMB 340 million in 2023, a 5% YoY increase, with Q4 coming in at RMB103.3 million, which was 7% higher than Q4 2022.
The firm sustained a high gross profit margin of 54% for the year, albeit slightly lower than the 57% of the previous year.
Advertising revenue rose by 8%, and there was a marked 17% YoY increase in revenue per online advertising customer.
On the flip side, enterprise value-added services revenue decreased by 7% in 2023.
Operating expenses were up, hitting RMB276.2 million compared to RMB229.2 million in 2022.
The net loss for Q4 2023 stood at RMB17.7 million compared to a net loss of RMB21.5 million in Q4 2022; overall net loss for 2023 was RMB89.2 million.
The company had cash, cash equivalents, and short-term investments of RMB117 million as of year end.
Business Progress:
36Kr enriched its content ecosystem on multiple fronts including flagship channels 36Kr and 36Kr Pro, leading to user growth and now boasting of 32.7 million followers.
The firm incorporated AI technology into its operations, allowing for increased efficiency and lower costs, and entered a strategic partnership with Baidu for AI commercialization.
The company launched the global intelligent entrepreneurial initiative with premium institutions to advance AI and diversified its content ecosystem with different formats.
36Kr expanded its reach to more sectors, increasing advertising initiatives and aiding client acquisition.
The company remains committed to providing top-tier consulting services to its government and corporate clients.
The firm sees a bright outlook for its advertising sector with an 8% YoY growth and is optimistic about its continued growth fueled by an expanded client base and improved marketing efforts.
36Kr plans on deepening its customization services, expanding its AI technology and product launches and expects sustained revenue growth and improved profitability in 2024.
More details: 36KR Holdings IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.