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Ucommune Posts Narrower Adj. Loss In Q3; Net Revenues Up 26.8% - Quick Facts

Ucommune International Ltd. (UK) said, in the third quarter, it grew net revenues by 26.8% while narrowing adjusted net loss by 49.5% year over year. The company said it improved the occupancy rates of self-operated co-working spaces, increased advertising and marketing service revenues, and expanded interior design and construction services and SaaS services.

The company reported a third quarter net loss of RMB 181.5 million in the third quarter of 2021, compared to a loss of RMB 169.3 million, prior year. Net loss per share was RMB 2.01, compared to a loss of RMB 2.50. Adjusted net loss was RMB 60.4 million, compared to a loss of RMB 119.8 million, prior year. Adjusted net loss per share was RMB 0.58, compared with a loss of RMB 1.71.

Total net revenues increased by 26.8% to RMB 253.5 million from RMB 199.9 million, prior year. Revenues from the asset-light model increased by 275.9% to RMB 21.8 million.

For the fourth quarter of 2021, the company expects net revenues to be in the range of RMB 250 million to RMB 280 million.

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