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ECMOHO Limited (MOHO)

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Previous Close1.4000
Open1.4000
Bid0.0000 x 2200
Ask0.0000 x 900
Day's Range1.4000 - 1.4899
52 Week Range1.3220 - 11.5100
Volume92,039
Avg. Volume105,512
Market Cap48.898M
Beta (5Y Monthly)N/A
PE Ratio (TTM)7.01
EPS (TTM)0.2010
Earnings DateMar 30, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • IMPORTANT INVESTOR ALERT: The Schall Law Firm Announces It Is Investigating Claims Against ECMOHO Limited and Encourages Investors With Losses to Contact the Firm
    ACCESSWIRE

    IMPORTANT INVESTOR ALERT: The Schall Law Firm Announces It Is Investigating Claims Against ECMOHO Limited and Encourages Investors With Losses to Contact the Firm

    LOS ANGELES, CA / ACCESSWIRE / September 29, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of ECMOHO Limited ("ECMOHO" or "the Company") (NASDAQ:MOHO) for violations of the securities laws.

  • Ecmoho Ltd (MOHO) Q2 2020 Earnings Call Transcript
    Motley Fool

    Ecmoho Ltd (MOHO) Q2 2020 Earnings Call Transcript

    Ladies and gentlemen, thank you for standing by and welcome to the Ecmoho 2020 Second Quarter Earnings Conference Call. Hello everyone and thank you for joining us today for our second quarter 2020 earnings conference call. On the call today, we have Ms. Zoe Wang, Founder and Chief Executive Officer and Mr. Richard Wei, Chief Financial Officer.

  • GlobeNewswire

    ECMOHO Announces Second Quarter 2020 Unaudited Financial Results

    SHANGHAI, China, Sept. 15, 2020 (GLOBE NEWSWIRE) -- ECMOHO Limited (Nasdaq: MOHO) (“ECMOHO” or the “Company”), a leading integrated solutions provider in the non-medical health and wellness market in China, today announced its unaudited financial results for the second quarter ended June 30, 2020.Second Quarter 2020 Financial Highlights * Total net revenues were US$100.5 million, compared with US$87.5 million in the same quarter last year. * Operating loss was US$3.2 million, compared with operating income of US$2.2 million in the same quarter last year. * Non-GAAP operating loss was US$2.8 million, compared with Non-GAAP operating income of US$2.6 million in the same quarter last year. * Net loss was US$4.5 million, compared with net income of US$1.4 million in the same quarter last year. * Non-GAAP net loss was US$4.1 million, compared with net income of US$1.8 million in the same quarter last year. * Basic and diluted net loss per American Depositary Share (“ADS1”) attributable to ECMOHO Limited’s ordinary shareholders were US$0.13 and US$0.13, respectively, compared with net earnings per ADS of  US$0.05 and US$0.04, respectively, for the same period of 2019. * Non-GAAP basic and diluted net loss per ADS attributable to ECMOHO Limited’s ordinary shareholders were US$0.12 and US$0.12, respectively, compared with net earnings per ADS of US$0.06 and US$0.05, respectively, for the same period of 2019.Second Quarter 2020 Operational Highlights * Number of brands offered by the Company increased to 78 as of June 30, 2020, from 70 as of December 31, 2019. * Number of cumulative paying consumers was 10.1 million as of June 30, 2020. * Repeat purchase rate2 reached 37% in the six months ended June 30, 2020, from 35% in the six months ended June 30, 2019.1 Each ADS represents four Class A ordinary shares of the Company.2 “Repeat purchase rate” refers to the percentage of paying consumers in the period indicated who had made more than one purchase with us in such period or in prior periods.“We are very pleased to report revenue of US$100.5 million in the second quarter of 2020, representing year-on-year growth of 14.9% and quarter-on-quarter increase of 64.3%,” said Ms. Zoe Wang, co-founder and Chief Executive Officer of ECMOHO Limited.  “During the second quarter, post-pandemic consumer trends began to come into focus. We believe the pandemic has negatively affected the purchasing power of Chinese consumers.  However, we also continue to see significant growth opportunities based on our observations of a rising trend of online shopping and increasing demand for family health management across various consumer groups.”“In addition to continuing to develop and refine our online retail business, we are actively deploying resources to cater to changes in the marketplace and consumers’ consumption upgrade.  Specifically:(1) We are committed to strategic digital upgrades: We will continue to invest in digital upgrades and plan to empower participants across the industry food chain by providing SaaS, CRM and other technology services to share the company's resources and experiences accumulated over the years.  (2) We are expanding our business upstream by strengthening our investment in research and development (R&D) and production capabilities: Based on our analysis of consumers’ needs, we will extend our business upstream and increase our investment in the R&D and production of health-related products.  We announced our plan to establish our southwest base in the city of Chengdu and expect our facilities there to house a comprehensive platform integrating both R&D and production capabilities.  In addition, we have recently entered into an investment agreement with Anze Premium Health and Beauty Pte. Ltd., a company involved in the research and development of Chinese herbal medicine-based health and wellness products, to capitalize on favorable trends in the marketplace.We believe that our current strategic layouts will not only consolidate the company's leading position in the non-medical health industry but also become promising earnings drivers in the coming years.”Second Quarter 2020 Financial ResultsTotal net revenues were US$100.5 million, representing an increase of 14.9% from US$87.5 million in the same quarter in 2019. The increase was primarily attributable to strong growth from mother and child care products, health supplements and food, and personal care products. Top growth contributors included brand partners Bayer, Harbin Pharmaceutical, Jiangzhong Shiliao, Puritan’s Pride, Tong Ren Tang, Wyeth Nutrition, and Wyeth Pharmaceutical.Cost of revenues was US$83.2 million, an increase of 22.4% from US$68.0 million in the same quarter in 2019.  The increase in cost of revenues was mainly due to sales growth and higher sales to online retailers which typically generate lower gross profit.Operating expenses were US$20.5 million, compared with US$17.2 million in the same quarter in 2019.  Operating expenses represented 20.4% of total net revenues, compared with 19.7% of total net revenues in the same quarter in 2019. * Fulfillment expenses were US$4.6 million, unchanged from the same quarter in 2019.  Fulfillment expenses did not grow as much as revenue growth primarily due to lower unit expense we paid to third-party logistics providers.  Fulfillment expenses represented 4.6% of total net revenues, down from 5.3% in the same quarter in 2019. * Sales and marketing expenses were US$12.2 million, an increase of 22.0% from US$10.0 million in the same quarter in 2019. Within sales and marketing expenses, platform fees and promotional expenses grew due to more promotion activities in the period. Sales and marketing expenses represented 12.1% of total net revenues, up from 11.4% in the same quarter in 2019. * General and administrative expenses were US$3.4 million, an increase of 54.5% from US$2.2 million in the same quarter in 2019.  The increase was primarily due to higher professional service fees, higher labor expense, and insurance expense.  General and administrative expenses represented 3.4% of total net revenues, up from 2.5% in the same quarter in 2019. * Research and development expenses were US$0.3 million, representing a 25.0% decline from US$0.4 million in the same quarter in 2019.  The decline was primarily due to reduced headcount in the R&D department in the period.Operating loss was US$3.2 million, compared with operating income of US$2.2 million in the same quarter in 2019.Non-GAAP operating loss was US$2.8 million, compared with Non-GAAP operating income of US$2.6 million in the same quarter in 2019. Net loss was US$4.5 million, compared with net income of US$1.4 million during the same quarter in 2019.Non-GAAP net loss was US$4.1 million, compared with Non-GAAP net income of US$1.8 million during the same quarter in 2019.Net loss attributable to ECMOHO Limited was US$4.4 million, compared with net income attributable to ECMOHO Limited of US$1.5 million during the same quarter in 2019.Non-GAAP net loss attributable to ECMOHO Limited was US$4.0 million, compared with Non-GAAP net income attributable to ECMOHO Limited of US$1.8 million during the same quarter in 2019.As of June 30, 2020, the Company had US$68.5 million in cash, cash equivalents and restricted cash, an increase from US$51.1 million as of December 31, 2019. Inventory days in the second quarter of 2020 decreased to 54 days from 89 days in the first quarter of 2020.  The decrease in inventory days were mainly due to increased sales in the second quarter as well as our effort to reduce inventory to reduce costs and improve working capital efficiency.  Business OutlookFrom our vantage point in the industry supply chain, we believe our industry is still in recovery mode following the disruption and volatility caused by the COVID-19 pandemic and is expected to continue to recover over the second half of this year.  We will continue to position our inventory levels appropriately and strengthen our working capital.  We also expect to cease working with certain less profitable brand partners to improve profitability.  Based on our current forecast, we expect third quarter revenue to show a decline of 0% to 5% from the same quarter in 2019.The above outlook is based on current market conditions and reflects the Company’s current and preliminary estimates, which are subject to substantial uncertainty.Use of Non-GAAP Financial MeasuresThe Company uses non-GAAP financial measures in evaluating its business.  For example, the Company uses non-GAAP income/(loss) from operations, non-GAAP operating margin, non-GAAP net income/(loss), non-GAAP net margin, non-GAAP net income (loss) attributable to ordinary shareholders of ECMOHO Limited and non-GAAP net income (loss) attributable to ordinary shareholders of ECMOHO Limited per ADS, as supplemental measures to review and assess its financial and operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. Non-GAAP income/(loss) from operations is income/(loss) from operations excluding the impact of share-based compensation expenses. Non-GAAP operating margin is non-GAAP income from operations as a percentage of total net revenues.  Non-GAAP net income/(loss) is net income/(loss) excluding the impact of share-based compensation expenses.  Non-GAAP net margin is non-GAAP net income as a percentage of total net revenues.  Non-GAAP net income (loss) attributable to ordinary shareholders of ECMOHO Limited is net income (loss) attributable to ordinary shareholders of ECMOHO Limited excluding the impact of share-based compensation expenses.  Non-GAAP net income (loss) attributable to ordinary shareholders of ECMOHO Limited per ADS is non-GAAP net income (loss) attributable to ordinary shareholders of ECMOHO Limited divided by weighted average number of shares used in calculating net income (loss) per ordinary share multiplied by four.The Company presents the non-GAAP financial measures because they are used by the Company’s management to evaluate the Company’s financial and operating performance and formulate business plans.  Non-GAAP income/(loss) from operations and non-GAAP net income/(loss) enable the Company’s management to assess the Company’s financial and operating results without considering the impact of share-based compensation expenses.  The Company also believes that the use of the non-GAAP measures facilitates investors’ assessment of the Company’s financial and operating performance.The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP.  The non-GAAP financial measures have limitations as analytical tools.  One of the key limitations of using non-GAAP income/(loss) from operations, non-GAAP net income/(loss), non-GAAP net income (loss) attributable to ordinary shareholders of ECMOHO Limited, and non-GAAP net income (loss) attributable to ordinary shareholders of ECMOHO Limited per ADS is that they do not reflect all items of income and expense that affect the Company’s operations.  Share-based compensation expenses have been and may continue to be incurred in the Company’s business and is not reflected in the presentation of non-GAAP income/(loss) from operations and non-GAAP net income/(loss).  Further, the non-GAAP measures may differ from the non-GAAP measures used by other companies, including peer companies, and therefore their comparability may be limited.  In light of the foregoing limitations, the non-GAAP income/(loss) from operations, non-GAAP operating margin, non-GAAP net income/(loss), non-GAAP net margin, non-GAAP net income (loss) attributable to ordinary shareholders of ECMOHO Limited and non-GAAP net income (loss) attributable to ordinary shareholders of ECMOHO Limited per ADS for the period should not be considered in isolation from or as an alternative to income/(loss) from operations, operating margin, net income/(loss), net margin, net income (loss) attributable to ordinary shareholders of ECMOHO Limited and net income (loss) attributable to ordinary shareholders of ECMOHO Limited per ADS, or other financial measures prepared in accordance with U.S. GAAP.The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, which should be considered when evaluating the Company’s performance.  For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled “Reconciliations of GAAP and Non-GAAP Results.”All quarterly results referred to in the text, tables and attachments to this press release are unaudited.Exchange Rate InformationThis press release contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers.  The exchange rate used for translation on June 30, 2020 was US$1.00 = RMB7.0795, representing the index rates stipulated by the People’s Bank of China.The Company makes no representation that the Renminbi or U.S. dollar amounts referred could be converted into U.S. dollar or Renminbi, as the case may be, at any particular rate or at all.Safe Harbor Statements This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “going forward,” “outlook” and similar statements.  For example, the Company’s statements about its expectations for Company performance in 2020, its strategy and industry outlook are forward-looking statements and are inherently uncertain.  Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, such as the significant volatility and disruption caused by the COVID-19 pandemic, the Company’s expected growth of the online retail industry in China, the Company’s expectations regarding demand for and market acceptance of its products and services, the Company’s expectations regarding its relationships with its brand partners and e-commerce channels, and the level of consumer economic activity in China, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements.  Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission.  The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.About ECMOHO Ltd.ECMOHO is a leading integrated solution provider in the non-medical health and wellness market in China.  The Company acts as the bridge between brand owners and Chinese consumers by marketing and distributing health supplements and food, mother and child care products, personal care products, household healthcare equipment and other health and wellness products.  Through over eight years of operation, ECMOHO has built an ecosystem where Chinese consumers are provided with customized health and wellness solutions that include quality products and trustworthy content.For more information, please visit http://ir.ecmoho.com/.For investor and media inquiries, please contact:ECMOHO Ltd. Investor Relations Email: IR@ecmoho.com ECMOHO LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands of U.S. dollars) As of December 31, 2019 As of June 30, 2020  US$ US$ ASSETS    Current assets:    Cash and cash equivalents 49,099   62,503  Restricted cash 2,000   6,004  Accounts receivable, net Accounts receivable-related party 49,829   50,829 282  Inventories, net 49,895   51,168  Prepayments and other current assets 21,366    13,309   Total current assets 172,189    184,095   Property and equipment, net 1,429   1,163  Intangible assets 1,311   1,118  Operating lease right-of-use assets1,204     798  Deferred tax assets 788  774  Other non-current assets 1,539   1,879  Total assets 178,460     189,827          LIABILITIES AND SHAREHOLDERS’ EQUITY    Short term borrowings 34,516   42,768  Accounts payable 26,439   38,251  Amounts due to related parties 16,233   13,890  Advances from customers 1,043   2,983  Operating lease liabilities, current 1,052   419  Salary and welfare payable 719  677  Tax payable 3,043    4,036   Accrued liabilities and other current liabilities 10,517    11,269   Total current liabilities 93,562     114,293   Deferred taxes liabilities 139  103  Operating lease liabilities, non-current 69   3  Total liabilities 93,770     114,399        Stockholders’ equity:    Class A Ordinary Shares, US$ 0.00001 par value1   1  Class B Ordinary Shares, US$ 0.00001 par value 1   1  Additional paid-in capital 105,944   106,827  Accumulated other comprehensive loss (2,265)  (3,205) Accumulated deficit (19,556)  (28,334) Total ECMOHO Limited shareholders’ equity 84,125   75,290  Non-controlling interests 565   138  Total shareholders’ equity 84,690   75,428  Total liabilities, mezzanine equity and shareholders’ equity 178,460   189,827        ECMOHO LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands of U.S. dollars, except for share and per ADS data) For Three Months Ended For Six Months Ended  June 30,  June 30,  June 30,  June 30,   2019  2020  2019  2020   US$ US$ US$ US$ Total net revenues 87,463   100,475  151,325  161,637  Total cost of revenue (68,039)  (83,182) (115,433) (133,604) Gross profit 19,424   17,293  35,892  28,033  Operating expenses(1):        Fulfillment expenses (4,572)  (4,610) (8,448) (8,384) Sales and marketing expenses (9,954)  (12,190) (19,111) (21,366) General and administrative expenses (2,234)  (3,360) (4,441) (6,448) Research and development expenses (428)  (324) (899) (634) Other operating income -     15  -  16  Total operating expenses (17,188)  (20,469) (32,899) (36,816) Operating income/(loss) 2,236   (3,176) 2,993  (8,783) Finance expense, net (604)  (1,141) (1,109) (1,688) Foreign exchange (loss)/income, net 6   (143) (51) (111) Other income, net11   7  262  1,529  Income/(loss) before income tax expenses 1,649   (4,453) 2,095  (9,053) Income taxes profit/(expenses) (226) (6) (376) 10  Net income/(loss) 1,423   (4,459) 1,719  (9,043) Less: Net loss attributable to the non-controlling interest shareholders and redeemable non-controlling interest shareholders(68)  (86) (94) (265) Net income/(loss) attributable to ECMOHO Limited 1,491  (4,373) 1,813  (8,778) Less: Accretion on Series A convertible redeemable preferred shares to redemption value(306) -  (608) -  Less: Accretion to redemption value of redeemable non-controlling interests(146) -  (312) -  Net loss attributable to ECMOHO Limited’s ordinary shareholders1,039  (4,373) 893  (8,778)           Net loss per share attributable to ECMOHO Limited’s ordinary shareholders        —basic 0.01  (0.03) 0.01  (0.06) —diluted 0.01  (0.03) 0.01  (0.06)          Net loss per ADS attributable to ECMOHO Limited’s ordinary shareholders        —basic 0.05  (0.13) 0.04  (0.25) —diluted 0.04  (0.13) 0.03  (0.25)          Weighted average number of Ordinary Shares         —basic 90,681,400   139,654,099  90,681,400  139,583,487  —diluted111,728,446   139,654,099  111,584,966  139,583,487            (1)Share-based compensation expenses are allocated in operating expenses items as follows: For Three Months EndedFor Six Months Ended  June 30,  June 30, June 30,  June 30,   2019  2020 2019  2020   US$  US$ US$  US$              Fulfillment expenses -     3 -  6  Sales and marketing expenses 94  103 166  195  General and administrative expenses 249   220 502  441  Research and development expenses -     1 -  6  Total Share-based compensation expenses 343   327 668  648               ECMOHO LIMITED Reconciliations of GAAP and Non-GAAP Results (In thousands of U.S. dollars, except for share and per ADS data) For Three Months Ended For Six Months Ended  June 30,  June 30,  June 30,  June 30,   2019  2020  2019  2020   US$  US$  US$  US$             Operating income/(loss) 2,236   (3,176) 2,993  (8,783) Add: Share-based compensation expenses 343   327  668  648  Non-GAAP Operating income/(loss) 2,579  (2,849) 3,661  (8,135)            Net income/(loss) 1,423   (4,459) 1,719  (9,043) Add: Share-based compensation expenses 343   327  668  648  Non-GAAP Net income/(loss) 1,766  (4,132) 2,387  (8,395)            Net loss attributable to ECMOHO Limited’s ordinary shareholders1,039  (4,373) 893  (8,778) Add: Share-based compensation expenses 343  327  668  648  Non-GAAP Net income/(loss) attributable to ECMOHO Limited’s ordinary shareholders  1,382  (4,046) 1,561  (8,130)   Non-GAAP net earnings /(loss) per ADS attributable to ECMOHO Limited’s ordinary shareholders          —basic0.06  (0.12) 0.07  (0.23) —diluted0.05  (0.12) 0.06  (0.23)            Weighted average number of Ordinary Shares           —basic 90,681,400  139,654,099  90,681,400  139,583,487  —diluted111,728,446   139,654,099  111,584,966  139,583,487