Energy Monster’s Q3 Revenue Reaches $144.3 Million, a YoY increase of 0.6%

Energy Monster, a mobile device charging service provider that was listed on the Nasdaq in April, announced its unaudited financial results for the quarter ended September 30, 2021 on Tuesday. Its revenues were RMB 930 million ($144.3 million) for the quarter, representing a 0.6% increase from the same period in 2020.

Its net loss for the third quarter of 2021 was RMB 79.4 million, compared to a net income of RMB 108.6 million in the same period last year. Adjusted net loss for the third quarter of 2021 was RMB 73.0 million, compared to an adjusted net income of RMB 120.2 million in the same period last year.

In terms of revenue composition, revenues from the company’s  mobile device charging business was RMB 895.4 million for the third quarter of 2021, compared to RMB895.5 million in the same period of 2020. Revenues from power bank sales increased by 14.0% to RMB 27.4 million for the third quarter of 2021 from RMB 24.0 million in the same period of 2020. Revenues from other sources, comprised mainlyof adverting services, increased by 47.5% to RMB 7.2 million for the third quarter of 2021 from RMB 4.9 million in the same period of 2020.

As of September 30, 2021, the company’s services were available in 820,000 Points of Interest (POIs), compared with 771,000 as of June 30, 2021. As of September 30, 2021, cumulative registered users reached 273.0 million, with 17.9 million newly registered users acquired during the quarter.

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During the quarter, the company launched its power bank optimization program that dynamically adjusts a suitable number of power banks in a given cabinet based on localized usage trends. As of September 30, 2021, the company’s available-for-use power banks were 5.8 million, compared with 6.0 million as of June 30, 2021.