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Dec 31, 2021
Senmiao Technology Q3 2022 Earnings Report
Estimated Revenue:$0
Estimated EPS:$0
Key Takeaways
Senmiao Technology reported a significant increase in revenue for the fiscal third quarter ended December 31, 2021, driven by growth in automobile rental leasing and online ride-hailing platform services. The company's net loss improved compared to the prior-year period, benefiting from increased revenues and a gain from the change in fair value of derivative liabilities.
Total revenues increased by 116% to $3.5 million compared to the prior-year period.
Operating lease revenues from automobile rentals and online ride-hailing platform services significantly contributed to revenue growth.
Net loss improved to $0.1 million from a net loss of $3.7 million in the prior-year period.
Earnings per share for continuing operations was approximately $0.00, compared to a loss per share of $0.07 in the prior-year period.
Forward Guidance
Senmiao anticipates operating lease revenues from automobile rentals will continue to grow, as will revenue from online ride-hailing platform services, which it expects will accelerate its return to profitability.
Positive Outlook
- Continued top line growth.
- Improved bottom line.
- Expansion of online ride-hailing platform to new cities.
- Deepening strategic relationships with partners such as Meituan and Gaode Map.
- Establishing new cooperations with brands that have a strong local presence in existing and new markets.
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