Boqii Holding Limited · AMEX:BQ
Boqii — Q1 FY2023 Earnings Presentation
12 slides from Boqii's earnings presentation, September 2022
Slide 1: Fiscal 2023 First Quarter Results
Fiscal 2023 First Quarter Results September 2022 1
Slide 2: Our Vision and Our Mission
Our Vision Connecting people and pets Our Mission Empower the pet ecosystem and instill love and trust into pet parenting 2
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by Boqii Holding Limited (the “Company”) solely for informational purposes. The information included herein in this presentation has not been independently verified. No representations, warranties or undertakings, express or implied, are made by the Com
Slide 4: Who We Are
Who We Are High Frequency Low Frequency Trusted & High Volume & High Value-Added Online Product Purchases Services Community Food and Treats Pet Adoption/Acquisition Sharing Shampoos, Cages, Toys… Grooming Educating Nutritional Supplements Pet Boarding/Training Social Networking
Slide 5: Strong GMV and Revenue Growth Recovery
Strong GMV and Revenue Growth Recovery Total GMV QoQ: 20.7% Total Revenues QoQ: 26.1% 1 ,0 0 0 .0 (RMB mn) (RMB mn) 9 0 0 .0 YoY: -7.7% YoY: -2.1% 332.6 3 5 0 .0 816.5 321.8 8 0 0 .0 792.1 315.1 731.5 282.1 3 0 0 .0 7 0 0 .0 692.6 249.9 606.0 2 5 0 .0 6 0 0 .0 2 0 0 .0 5 0 0 .0 4 0 0 .0 1 5 0 .0 3 0
Slide 6: Improving Revenue Mix
Improving Revenue Mix Revenue by Segment Revenue from Online Marketing & Information Services & Other Revenue (RMB mn) 16.0 1QFY22 1QFY23 15.2 11.9 10.4 3.2% 3.8% 7.6 96.8% 96.2% Product Sales 1QFY22 2QFY22 3QFY22 4QFY22 1QFY23 Online Marketing and Information Services and Other Revenue Product Sale
Slide 7: Reward by Our Customers
Reward by Our Customers Active Buyers (mn) Order Volume (mn) 2.84 3 1.91 2 1.83 1 .8 1.65 2.45 2.48 1.62 2 .5 2.38 1.52 1 .6 2.19 1 .4 2 1 .2 1 .5 1 0 .8 1 0 .6 0 .4 0 .5 0 .2 0 1QFY22 2QFY22 3QFY22 4QFY22 1QFY23 0 1QFY22 2QFY22 3QFY22 4QFY22 1QFY23 Note: (1) Active Buyer refers to a registered acco
Slide 8: Margin Improvement & Expense / CAC Trends
Margin Improvement & Expense / CAC Trends Post-fulfillment Margin SG&A as % of Revenue 11.8% 10.6% 9.2% 8.0% 23.8% 7.3% 20.2% 21.2% 17.8% 13.8% 70.6 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 67.2 65.1 CAC (RMB) 22.3 19.6 23.2 12.8 44.5 43.2 9.9 11.2 11.5 8.5 5.7 45.5 48.3 5.2 44.0 33.3 31.7 Q1FY22 Q2FY22 Q
Slide 9: Profitability
Profitability Non-GAAP EBITDA(RMB mn) Non-GAAP Net Loss(RMB mn) Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 (7.1) (10.5) (20.0) (22.2) (23.5) (25.4) (29.7) (31.5) (37.8) 4.0% (40.9) -2.0% -2.3% -4.0% -3.3% -9.4% -6.7% -10.0% -8.0% -7.6% -9.2% -12.0% -9.8% -13.4% -14.5% -18.
Slide 10: Summary Financials – Income Statement
Summary Financials – Income Statement Consolidated Statements of Comprehensive Loss (RMB Thousand) Three Months Ended Jun 30, 2021 Jun 30, 2022 RMB RMB US$ Total revenues 321,846 315,060 47,037 Total cost of revenues (265,465) (244,407) (36,489) Gross profit 56,381 70,653 10,548 Operating expenses:
Slide 11: Summary Financials – Selected Consolidated Balance Sheet
Summary Financials – Income Statement Selected Consolidated Balance Sheet (RMB Thousand) As of Mar 31 As of Jun 30 2022 2022 RMB RMB US$ Total current assets 578,555 591,112 88,251 Cash and cash equivalents 162,855 128,772 19,225 Short-term investments 128,084 118,598 17,706 Accounts receivable, net
Slide 12: Reconciliation of GAAP and Non-GAAP Results
Reconciliation of GAAP and Non-GAAP Results (RMB Thousand) Three Months Ended Jun 30, 2021 Jun 30, 2022 RMB RMB Net loss (37,360) (12,416) Fair value change of derivative liabilities (162) 2,156 Share-based compensation 5,986 (250) Non-GAAP Net loss (31,536) (10,510) Non-GAAP Net Loss Margin (9.8%)