Zhitong Finance App learned that on March 25, Dada Group (DADA.US) announced financial results for the fourth quarter and full year of fiscal year 2023. According to financial reports, Dada Group's total Q4 revenue was 2,752 billion yuan (RMB, same below), an increase of 2.7% over the previous year. Under non-GAAP accounting standards, net loss was $159 million, net loss for the same period last year was $179 million; loss per diluted share was $0.15; loss per share after dilution was $0.18 per share for the same period last year.

According to business division, the revenue of the Dada Express Delivery Platform was 1,204 billion yuan, compared to 883 million yuan in the same period last year, an increase of 36.3% over the previous year. The increase was mainly due to the increase in the number of orders for instant delivery services in the same city provided to various chain merchants. The revenue of the JD Home Platform was 1,549 billion yuan, compared to 1,798 billion yuan in the same period last year, down 13.9% year-on-year, mainly due to a decrease in revenue from online advertising and marketing services.

Revenue for the full year of fiscal year 2023 was $10.506 billion, up 12.2% year on year; under non-GAAP accounting standards, net loss was $342 million, net loss last year was $1,326 million; loss per diluted share was $0.33, compared with loss of 1.31 yuan per share in the previous year.

As of December 31, 2023, the company had cash, cash equivalents, restricted cash and short-term investments of $3,971 billion.

Additionally, the company's board of directors has authorized a share repurchase program that will repurchase up to $40 million of American Depositary Shares over a two-year period ending March 2026.

As of press release, Dada Group fell more than 13% after the US market on Monday.