Quhuo Limited (NASDAQ:QH) fell 6% after announcing its Q2 2021 unaudited financial results. The company reported 81% YoY revenue growth to $153.6 million attributed to ion-demand delivery offerings revenue that was up 74.1% YoY and mobility service solutions revenue that increased 336.9% YoY.
In addition, accommodation and housekeeping revenue were up 56 times YoY and 67.2% QoQ. The company reported an adjusted EBITDA of $4,5 million, which is an improvement from an adjusted net loss in Q1 2021. Adjusted net income was $1.5 million, with the number of monthly average delivery orders being 45 million, an 85.2% YoY increase.
Chairman and CEO Leslie Yu said they are delighted to report strong Q2 results with 81% YoY revenue growth which almost hit the RMB1 billion milestone. Leslie said that the company’s main business lines saw massive growth momentum in Q2 and the company posted adjusted net income of around RMB9 million, improving from a loss in Q1. Therefore, with the impressive results, QH is worth watching.
Market Reaction:
On Wednesday, QH stock fell 6.20% at $2.42 with more than 90k shares, compared to its average volume of 93k shares. The stock has moved within a range of $2.2701 – 2.7500 after opening the trade at $2.74.
