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.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT