ECMOHO Limited (NASDAQ:MOHO) is moving in range after announcing its unaudited Q2 20221 financial results for the period ended June 30, 2021. The company reported the aggregate number of KOLs and partnered healthcare experts from 1,114 in Q2 2020 to 1,542e in Q2 2021.
At the end of the quarter, the number of cumulative paying customers was 12.1 million relative to 10.1 million a year ago. In Q2 2021, the repeat purchase rate was 40.7% relative to 37.2 in Q2 2020.
The company reported net revenue of $42.8 million versus $100.5 million a year ago with product sales income of $42.1 million relative to $99.7 million a year ago attributed to ECMOHO’s growth strategy for optimizing the brand portfolio. Service revenue was $698,279 compared to Q2 2020’s $780,774.CEO Zoe Wang said that in the second half of last year, economic recovery was uneven and unstable in china which weighed in consumption and led to a decline in sales growth. MOHO is worth watching in the coming days.
Market Reaction:
On Tuesday, MOHO stock jumped 0.79% at $0.6652 with more than 600k shares, compared to its average volume of 647k shares. The stock has moved within a range of $0.6400 – 0.6930 after opening the trade at $0.6930.
