AIRNET TECHNOLOGY INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In U.S. dollars in thousands, except share and per share data)
As of December 31, | As of June 30, | |||||||
2021 | 2022 | |||||||
(Unaudited) | ||||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 1,569 | $ | 5,727 | ||||
Accounts receivable, net | 2,258 | 1,001 | ||||||
Prepaid concession fees | 628 | - | ||||||
Other current assets, net | 31,534 | 64,162 | ||||||
Cryptocurrency, less impairment | 659 | 431 | ||||||
Total current assets | 36,648 | 71,321 | ||||||
Property and equipment, net | 19,302 | 17,460 | ||||||
Long-term investments, net | 39,554 | 36,426 | ||||||
Long-term deposits, net | 513 | 382 | ||||||
Operating lease right-of-use assets | 18 | 8 | ||||||
TOTAL ASSETS | 96,035 | 125,597 | ||||||
Liabilities | ||||||||
Current liabilities: | ||||||||
Short-term loan | 15,174 | 14,437 | ||||||
Accounts payable | 18,365 | 16,735 | ||||||
Accrued expenses and other current liabilities | 9,695 | 10,336 | ||||||
Deferred revenue | 3,428 | 2,518 | ||||||
Income tax payable | 2,963 | 1,827 | ||||||
Operating lease liability, current | 8 | 12 | ||||||
Consideration received from buyer | 31,384 | 29,860 | ||||||
Payable of earnout commitment | 23,939 | 22,776 | ||||||
Total current liabilities | 104,956 | 98,501 | ||||||
Non-current liabilities: | ||||||||
Operating lease liability, non-current | 13 | - | ||||||
TOTAL LIABILITIES | 104,969 | 98,501 |
AIRNET TECHNOLOGY INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED
(In U.S. dollars in thousands, except share and per share data)
As of December 31, | As of June 30, | |||||||
2021 | 2022 | |||||||
(Unaudited) | ||||||||
Equity | ||||||||
Ordinary shares ($0.001 par value; 900,000,000 shares authorized; 179,986,169 and 357,940,060 shares issued as of December 31, 2021 and June 30, 2022; 178,993,449 and 356,947,340 shares outstanding as of December 31, 2021 and June 30, 2022) | 181 | 359 | ||||||
Additional paid-in capital | 298,685 | 332,686 | ||||||
Treasury stock (992,720 shares as of December 31, 2021 and June 30, 2022) | (1,148) | (1,148 | ) | |||||
Accumulated deficit | (304,904) | (306,668 | ) | |||||
Accumulated other comprehensive income | 31,685 | 34,544 | ||||||
Total AirNet Technology Inc.'s shareholders' equity | 24,499 | 59,773 | ||||||
Non-controlling interests | (33,433) | (32,677 | ) | |||||
Total (deficits) equity | (8,934) | 27,096 | ||||||
TOTAL LIABILITIES AND DEFICITS | $ | 96,035 | $ | 125,597 |
AIRNET TECHNOLOGY INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In U.S. dollars in thousands, except share and per share data)
Six months ended June 30, | ||||||||
2021 | 2022 | |||||||
(Unaudited) | (Unaudited) | |||||||
Revenues | $ | 8,833 | $ | 2,541 | ||||
Business tax and surcharges | (60) | (53 | ) | |||||
Net revenues | 8,773 | 2,488 | ||||||
Cost of revenues | (6,838) | (2,358 | ) | |||||
Gross profit | 1,935 | 130 | ||||||
Operating expenses: | ||||||||
Selling and marketing | (1,132) | (748 | ) | |||||
General and administrative | (5,096) | (3,435 | ) | |||||
Research and development | (204) | (18 | ) | |||||
Total operating expenses | (6,432) | (4,201 | ) | |||||
Loss from operations | (4,497) | (4,071 | ) | |||||
Interest expense, net | (301 | ) | (448 | ) | ||||
Loss from long-term investments | (1,776 | ) | (1,275 | ) | ||||
Other (expense) income, net | (46) | 4,798 | ||||||
Loss from operations before income taxes | (6,620 | ) | (996) | |||||
Income tax expenses | (55 | ) | (12 | ) | ||||
Net loss | (6,675 | ) | (1,008 | ) | ||||
Less: Net (loss) income from operations attributable to non-controlling interests | (207 | ) | 756 | |||||
Net loss from operations attributable to AirNet Technology Inc.'s shareholders | $ | (6,468 | ) | $ | (1,764 | ) | ||
Net loss | $ | (6,675 | ) | $ | (1,008 | ) | ||
Net loss attributable to AirNet Technology Inc.'s shareholders | $ | (6,468 | ) | $ | (1,764 | ) | ||
Net loss attributable to AirNet Technology Inc.'s shareholders per ordinary share | ||||||||
- Basic and diluted | $ | (0.04 | ) | $ | (0.01 | ) | ||
Net loss attributable to AirNet Technology Inc.'s shareholders per ADS | ||||||||
- Basic and diluted | $ | (0.38 | ) | $ | (0.07 | ) | ||
Weighted average ordinary shares used in calculating net loss per ordinary share | ||||||||
- Basic and diluted | 171,988,772 | 264,511,739 | ||||||
Weighted average ADS used in calculating net loss per ADS | ||||||||
- Basic and diluted | 17,198,877 | 26,451,174 | ||||||
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Disclaimer
AirNet Technology Inc. published this content on 29 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 October 2022 14:53:26 UTC.