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Uxin Clocks 347% Revenue Growth In Q1, Posts Positive Margin

Benzinga · 09/24/2021 05:44
  • Online used car dealer Uxin Ltd (NASDAQ:UXINreported first-quarter FY22 revenue growth of 346.5% year-on-year to $43 million (RMB277.8 million).
  • The transaction volume was lower by 22.5% Y/Y to 3,011 units.
  • Revenue for Retail vehicle sales was $14.2 million, Wholesale vehicles were $27.4 million, and Other revenue was $1.5 million.
  • The company posted a 4% gross margin versus a negative 28.4% last year.
  • Uxin clocked an EPS loss of $(0.01) and ended Q4 with $25.8 million in cash and equivalents.
  • Outlook: Uxin sees Q2 revenue of RMB310 million - RMB330 million.
  • Price Action: UXIN shares closed higher by 2.78% at $2.96 on Thursday.