Dada Group Q3 2021 Earnings: Total Revenue Growth Accelerated to 86% YOY

Dada Group
(Source: Dada Group)

Dada Group, China’s local on-demand delivery and retail platform, announced on Tuesday its unaudited financial results for the third quarter ended September 30, 2021. Its total net revenues were 1.69 billion yuan ($265 million), while its net loss was 542.7 million yuan.

Aligning the revenue of Dada Now’s last-mile delivery services to a comparable basis, revenue growth would have been 86.4% year over year, an acceleration compared with 81% revenue growth in the second quarter.

Total Gross Merchandise Volume (GMV) of JDDJ, Dada’s on-demand retail platform, for the twelve months ended September 30, 2021 was 37.2 billion yuan. The number of active users for the twelve months ended September 30, 2021 was 57.1 million, as compared with 37.3 million in the same period ended September 30, 2020.

In October, Dada Group and JD.com jointly launched “Shop Now” or “Xiaoshigou”, a unified brand for all on-demand retail services within the JD ecosystem. Through Shop Now, users can access on-demand services via multiple channels on JD, including the “Nearby” tab on the homepage of JD.com’s app. Net revenues generated from Dada Now were 614.3 million yuan in Q3.

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For the fourth quarter of 2021, Dada expects total revenue to be between 2 billion yuan and 2.1 billion yuan. Aligning the revenue of Dada Now last-mile delivery services to the fourth quarters of 2020 and 2021, total revenue of the fourth quarter of 2021 will realize 88% to 97% year-over-year growth.