iClick Interactive (NASDAQ: ICLK), a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions, has posted record second-quarter financial results for the quarter ended June 30, 2021. Highlights of the report included Q2 revenue reaching $78 million, an increase of 34% from $58.1 million for the same quarter of last year; the company attributed much of that growth to the success of the company’s Marketing Solutions and Enterprise Solutions entities. Marketing Solutions revenue reached $64.6 million for Q2 2021, up 22% from Q2 2020’s $53 million revenue. Enterprise Solutions revenue totaled $13.4 million for the second quarter of 2021, an increase of almost 160% from the $5.1 million reported for the same period in 2020. iClick’s Q2 2021 gross profit totaled $24.3 million, which is a 46% increase compared to gross profits of $16.6 million reported for Q2 2020. In addition, iClick’s Board of Directors approved upsizing the company’s share repurchase program, which was originally announced on Dec. 10, 2020. The increase will be $10 million, moving the original $15 million amount to $25 million. As a result, the company may purchase its own ADSs with an aggregate value of up to $25 million from Dec. 30, 2020, to Dec. 31, 2021. “iClick reported record second-quarter financial results as we continue to achieve robust growth in both Marketing and Enterprise Solutions,” said iClick chair and CEO Jian “T.J.” Tang in the press release. “This strong performance is a testament to the value proposition of our integrated solutions for clients. We remain confident in our strong outlook given our solid execution and clear strategies to further penetrate the enormous private domain traffic markets that we address. We are excited to see Enterprise Solutions achieve record results for the seventh quarter in a row, with revenue of $13.4 million, representing 160% year-over-year growth, while Marketing Solutions continues to deliver healthy growth, with revenues increasing by 22% year-over-year to $64.6 million. Gross profits increased by 46%, outpacing revenue growth as we further grow our Marketing Solutions and higher-margin Enterprise Solutions businesses. Even as we continue to invest actively in Enterprise Solutions, we still managed to reach historical highs for adjusted EBITDA and adjusted net income, highlighting the strong economies of scale we have achieved in our Marketing Solutions business.”
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About iClick Interactive Asia Group Limited
iClick is a leading enterprise and marketing cloud platform in China. The company’s mission is to empower worldwide brands to unlock the enormous market potential of smart retail. With its leading proprietary technologies, iClick’s full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. Headquartered in Hong Kong, iClick currently operates in 10 locations across Asia and Europe. For more information about the company, please visit www.iClick.com.
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