Childhood edutainment company iHuman’s revenues totaled ¥532M in 2020, increased 143.3% YoY
2021-03-31 20:29:23

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iHuman Inc. (NYSE: IH), a childhood edutainment company in China, recently announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2020. 

During the reporting period, total revenues in Q4 2020 were RMB189.5 million, a year-over-year increase of 206.4%. Net loss was RMB53.8 million, compared with a net loss of RMB6.4 million in Q4 2019. 

Sales and marketing expenses were RMB44.6 million, an increase of 430.7% year-over-year, primarily due to an increase in advertising and promotion expenses as the company strategically strengthened its brand recognition as a publicly listed company and marketing efforts to supplement organic user growth.

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For the 2020 fiscal year, total revenues were RMB531.9 million, a year-over-year increase of 143.3%. Revenues from learning services were RMB430.5 million, an increase of 300.8% from RMB107.4 million in the fiscal year 2019, primarily driven by user expansion and enhanced user engagement. Net loss was RMB37.5 million (US$5.7 million), a decrease of 86.4% compared with the fiscal year 2019.

Founded in 1996, iHuman incorporates a learning system based on early language acquisition and cognitive development principles. With the addition of interactive features, the products provide a fun and engaging way for children to understand and master Chinese characters and English and Mathematics. 

Now, the company is expanding its business into the sectors of STEM, Music, Dance, and the Big Chinese. In October 2020, iHuman was listed on the New York Stock Exchange, and the newly launched report was its first annual financial report after its listing.

For the first quarter of 2021, iHuman expects total revenues to be between RMB220 million to RMB226 million, representing an increase of 182% to 190% year-over-year.

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