The following is a summary of the Dada Nexus Limited (DADA) Q1 2024 Earnings Call Transcript:
Financial Performance:
Dada Nexus Limited reported Q1 2024 total net revenues of RMB2.5 billion.
Revenue from Dada Now segment rose by 57% YoY to RMB1.2 billion, denoting the highest growth rate in the past eight quarters.
The company posted a non-GAAP net loss for the quarter of RMB195 million, and the non-GAAP net loss margin was 7.9%.Dada Nexus had a total of RMB3.8 billion in cash, cash equivalents, restricted cash, and short-term investments at the end of Q1 2024.
Business Progress:
Dada Nexus rebranded its on-demand retail service to JD NOW, expanding its reach to over 2,300 cities and counties and collaborating with over 500,000 physical stores.
The company experienced a notable improvement in core operating metrics, with monthly transacting users and orders via the JD app growing YoY at a rate of over 70%.
The company intends to continue enhancing its user experience via ongoing investments and upgrading their fulfillment services.
The Company plans on strategically increasing its order volume and revenue by focusing on their KA or chain merchants business within Dada Now's delivery services.
Dada Nexus has seen the year-over-year growth rate of GMV through the JD app channel accelerate in Q1.
An average fulfillment time per order decrease for the JD NOW business on the JD app by 12% year-over-year was also recorded in Q1.
More details: Dada Nexus IR
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