Lizhi Inc
NASDAQ:SOGP
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Lizhi Inc
NASDAQ:SOGP
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Lizhi Inc
Lizhi, Inc. owns and operates an audio ecosystem, which consist of audio-based social networks, podcast content portfolios and audio communities. The company is headquartered in Guangzhou, Guangdong. The company went IPO on 2020-01-17. The firm operates the online audio community through LIZHI Application (App), which is a one-stop online destination for users to create, store, share, discover and interact through audio on mobile and other smart devices. The firm provides podcast services mainly via two platforms, LIZHI App and LIZHI Podcast. The users can access the App on their mobile devices and in-car audio products to listen to an abundance of audio content. The Company’s Audio Content covers a wide array of categories, generated by its users or selected paid podcasts, providing innovative audio and artificial intelligence technologies to connect with each other. The firm also sells virtual gifts to users to pay for selected audio entertainment and the podcast and also provides advertising services.
Lizhi, Inc. owns and operates an audio ecosystem, which consist of audio-based social networks, podcast content portfolios and audio communities. The company is headquartered in Guangzhou, Guangdong. The company went IPO on 2020-01-17. The firm operates the online audio community through LIZHI Application (App), which is a one-stop online destination for users to create, store, share, discover and interact through audio on mobile and other smart devices. The firm provides podcast services mainly via two platforms, LIZHI App and LIZHI Podcast. The users can access the App on their mobile devices and in-car audio products to listen to an abundance of audio content. The Company’s Audio Content covers a wide array of categories, generated by its users or selected paid podcasts, providing innovative audio and artificial intelligence technologies to connect with each other. The firm also sells virtual gifts to users to pay for selected audio entertainment and the podcast and also provides advertising services.
Revenue: LIZHI reported third-quarter revenue of RMB 425.1 million, down from RMB 565.2 million a year ago, mainly because average paying users and user spending declined in audio entertainment.
Margins: Gross margin fell to 25% from 33% last year as revenue dropped faster than costs, while operating loss widened to RMB 60.1 million.
Cost discipline: The company kept tightening expenses, with selling and marketing down year over year and cost of revenue also lower, partly from reduced revenue-sharing fees and payment costs.
Strategy: Management said it is doubling down on an online audio-focused globalization strategy, while also pushing AIGC, voice AI, and product innovation across domestic and overseas businesses.
Users: Total average mobile MAUs were 42.1 million, and average monthly paying users were 402,600 in the quarter.
Outlook: Management did not give formal financial guidance, but said it will keep streamlining operations, improve efficiency, and monitor discretionary advertising spending based on market conditions.
