MOGU Inc. (NYSE: MOGU) has announced its unaudited financial results for Q4 and fiscal 2021 ending March 31, 2021.
MOGU announced Q4 results
Chen Qi, MOGU CEO and Chairman said, “Live eCommerce GMV grew by 42.0% year-over-year, and accounted for 87.2% of our total GMV during the quarter. Looking forward, we are confident on the growth of our overall user retention rate and ARPU, as MOGU live continues to be a key growth driver and the main revenue contributor.”
Live video broadcast business was strong on 4 2021, increasing 42% YoY to $342.7 million, and LVB connected to gross merchandise value accounted for 87% of the total GMV. In Q4, the company’s GMV was 393.2 million, which is a 6.5% YoY. For fiscal 2021, LBV associated with GMV grew 38.1% to around $1.66 billion, and it accounted for 78.5% of the company’s total GMV. The company reported an 18.8% YoY decline in GMV to $2.115 billion.
Revenue dropped due to the shift to the LVB model.
Chief Strategy Officer Raymond Huang said, “Our Net Loss and adjusted EBITDA of fiscal year 2021 improved remarkably by 85.3% and 83.9% respectively. Net Loss decreased from negative RMB2,223.6 million to negative RMB328.0 million, and adjusted EBITDA decreased from negative RMB320.1 million to negative RMB51.5 million. This showcases the positive effect from our efforts to optimize customer acquisition and operating efficiency. We will continue to execute on our disciplined strategy of investing in our growth and bringing new innovations to our users’ live ecommerce experiences.”
Total revenue dropped 23.6% YoY to $13.9 million in Q4 2021, with commission revenue dropping to 410 million, resulting in the restructuring of the company’s business to an LVB model. Marketing services revenue was also down 34.5% YoY to $1.8 million, while other revenues were down 60.2% to $2.1 million, which was mainly due to online direct sales decline.