Financial Position - Total assets decreased from $95,656,000 as of December 31, 2022, to $82,679,000 as of June 30, 2023[19] - Cash and cash equivalents declined from $27,960,000 to $20,799,000 during the same period[19] - Total current assets fell from $60,800,000 to $46,867,000[19] - Total liabilities decreased from $28,942,000 to $26,520,000[19] - Shareholders' equity dropped from $80,602,000 to $70,916,000[22] - The accumulated deficit increased from $(697,299,000) to $(707,422,000)[22] - The company reported a decrease in accounts payable from $1,570,000 to $1,390,000[19] - Operating lease liabilities - current reduced from $301,000 to $122,000[19] - Total non-current assets slightly increased from $34,856,000 to $35,812,000[19] Revenue and Profitability - SaaS revenue for the three months ended June 30, 2023, was $12,848,000, representing a 18.3% increase from $10,854,000 in the same period of 2022[24] - Total revenues for the six months ended June 30, 2023, reached $25,017,000, up 17.0% from $21,306,000 in the prior year[24] - Gross profit for the three months ended June 30, 2023, was $10,247,000, a 21.0% increase compared to $8,471,000 for the same period in 2022[24] - Total operating expenses for the six months ended June 30, 2023, were $25,923,000, slightly higher than $24,879,000 in the same period of 2022, indicating a 4.2% increase[24] - The net loss for the three months ended June 30, 2023, was $(8,761,000), compared to $(1,548,000) for the same period in 2022, reflecting a significant increase in losses[27] - Comprehensive loss attributable to Moatable, Inc. for the three months ended June 30, 2023, was $(7,933,000), compared to $(558,000) in the same period of 2022[27] - The company reported a net loss per share of $(0.008) for the three months ended June 30, 2023, compared to $(0.001) for the same period in 2022[24] - The total cost of revenues for the six months ended June 30, 2023, was $5,344,000, an increase from $4,961,000 in the same period of 2022[24] Cash Flow and Investments - Moatable, Inc. reported a net cash used in operating activities of $5,142,000 for the six months ended June 30, 2023, compared to $1,623,000 for the same period in 2022, indicating a significant increase in cash outflow[36] - Cash and cash equivalents at the end of the period on June 30, 2023, were $20,799,000, a decrease from $56,834,000 at the end of the previous period, reflecting a decline of 63.4%[36] - The company generated $1,478,000 in share-based compensation expense for the six months ended June 30, 2023, down from $2,611,000 in the same period of 2022, indicating a 43.4% reduction[36] - The company’s cash flows from investing activities provided $3,921,000 in the six months ended June 30, 2023, compared to a cash outflow of $6,456,000 in the same period of 2022[36] Shareholder Information - The company had a total of 781,081,000 ordinary shares outstanding as of June 30, 2023, with a total stockholder equity of $56,159,000[32] - Moatable, Inc. completed a repurchase of Class A ordinary shares totaling $4,490,000 and Class B ordinary shares totaling $3,346,000 during the reporting period[36] - The total number of ADSs purchased under the Stock Repurchase Program was 6,942,569 for a total value of $7,836 million as of June 30, 2023[85] Operational Performance - The company has approximately 300 engineers and developers, accounting for about 58% of its workforce, focusing on enhancing SaaS services and user experience[160] - The company expects to increase investment in developing Chime products to serve property managers and landlords following the acquisition of Rentancy[161] Internal Controls and Compliance - As of June 30, 2023, the company identified two material weaknesses in its internal control over financial reporting, which remain unremediated[168] - The company concluded that its internal control over financial reporting was not effective as of June 30, 2023, despite the consolidated financial statements presenting fairly in all material respects[171] - The company has implemented a plan to remediate the identified material weaknesses, including recruiting personnel with requisite accounting knowledge and engaging external experts[172] - A consolidated general ledger has been implemented within a single enterprise resource planning application for all legal entities, enhancing consolidation and statutory reporting capabilities[173] - The company is committed to monitoring the effectiveness of remediation steps and making necessary adjustments[172]

Financial Performance - SaaS revenue increased from $10,261 thousand in Q1 2022 to $12,080 thousand in Q1 2023, representing a growth of 17.7%[21] - Total revenues rose from $10,321 thousand in Q1 2022 to $12,149 thousand in Q1 2023, marking an increase of 17.7%[21] - Gross profit improved from $7,874 thousand in Q1 2022 to $9,426 thousand in Q1 2023, reflecting a growth of 19.7%[21] - Operating expenses slightly increased from $12,665 thousand in Q1 2022 to $12,845 thousand in Q1 2023, a rise of 1.4%[21] - Loss from operations widened from $(4,791) thousand in Q1 2022 to $(3,419) thousand in Q1 2023[21] - Net loss attributable to Renren Inc. decreased from $(3,317) thousand in Q1 2022 to $5,970 thousand in Q1 2023, indicating a significant turnaround[21] - Net income per share attributable to Renren Inc. shareholders improved from $(0.003) in Q1 2022 to $0.005 in Q1 2023[21] - Comprehensive income attributable to Renren Inc. increased from $(3,396) thousand in Q1 2022 to $6,055 thousand in Q1 2023[24] - For the three months ended March 31, 2023, the net loss was $4,383, compared to a net loss of $3,765 for the same period in 2022, indicating a year-over-year increase in losses of approximately 16.4%[40] - Total revenue increased from $10.3 million for the three months ended March 31, 2022, to $12.1 million for the same period in 2023, representing a growth of approximately 17.5%[106] - Net income for the three months ended March 31, 2023, was $5.3 million, compared to a net loss of $3.7 million for the same period in 2022, indicating a significant turnaround[106] Assets and Liabilities - Total assets increased from $95,656,000 as of December 31, 2022, to $100,613,000 as of March 31, 2023, representing a growth of approximately 5.1%[15] - Total current liabilities slightly decreased from $28,942,000 to $28,820,000, a reduction of about 0.4%[15] - Total current assets decreased from $60,800,000 to $56,506,000, a decline of about 7.5%[15] - Total liabilities rose from $10,630 as of December 31, 2022, to $13,180 as of March 31, 2023, marking an increase of about 24%[40] - Total deferred revenue was $4,323 million as of December 31, 2022, slightly decreasing to $4,312 million by March 31, 2023[61] - Total assets adjusted from $94,708 million to $95,656 million, reflecting a net adjustment of $948 million[45] - Shareholders' equity increased from $79,654 million to $80,602 million after adjustments[45] Investments and Cash Flow - Long-term investments rose significantly from $25,768,000 to $34,148,000, an increase of approximately 32.5%[15] - Cash flows from operating activities showed a net cash used of $1,824 for the three months ended March 31, 2023, compared to $2,827 for the same period in 2022, reflecting a decrease in cash used by 35.5%[40] - The company reported a net decrease in cash and cash equivalents of $5,572 for the three months ended March 31, 2023, compared to a decrease of $2,498 for the same period in 2022, reflecting a significant increase in cash outflow[40] - As of March 31, 2023, cash and cash equivalents and restricted cash totaled $59,742, down from $65,247 at the beginning of the period[40] - Cash paid for lease liabilities increased from $163 in Q1 2022 to $215 in Q1 2023, reflecting a rise in operating lease costs[69] - The net cash used in investing activities was $8 for the three months ended March 31, 2023, compared to no cash used in the same period in 2022[40] Segment Performance - The company has two main SaaS businesses, Chime and Trucker Path, which generate nearly 100% of their revenue from the U.S. market[33] - SaaS revenue from Chime increased from $5,634 million for the three months ended March 31, 2022 to $6,826 million for the same period in 2023, representing a growth of 21.1%[60] - Subscription services revenue from Trucker Path rose from $3,923 million to $4,886 million, marking a 24.6% increase[60] - The Chime segment generated revenue of $6.8 million, while the Trucker Path segment generated $5.3 million for the three months ended March 31, 2023[96] Internal Controls and Governance - As of March 31, 2023, the company's disclosure controls and procedures were not effective due to two material weaknesses in internal control over financial reporting[153] - The identified material weaknesses include a lack of an integrated risk assessment process and insufficient evaluations of internal control components[155] - Management concluded that the consolidated financial statements fairly present the financial position and results of operations in accordance with U.S. GAAP despite the material weaknesses[156] - The company has recruited personnel with expertise in accounting and disclosure requirements to address the identified weaknesses[158] - A consolidated general ledger has been implemented within a single enterprise resource planning application for all legal entities[159] - New audit committee members with sufficient accounting experience have been designated to oversee risk assessment policies and procedures[159] - Management is taking steps to remediate the material weaknesses and will continue to monitor the effectiveness of these steps[159] - There were no other changes in internal control over financial reporting that materially affected the company during the three months ended March 31, 2023[160] - The company acknowledges that its control systems cannot prevent or detect all errors and fraud due to inherent limitations[161] Stock and Compensation - The Company repurchased 678,882 ADSs for $1,249 at a weighted average price of $1.83 per ADS during the three months ended March 31, 2023[75] - As of March 31, 2023, the Company had 91,646,055 share options outstanding with a weighted average exercise price of $0.01[79] - Compensation expenses related to nonvested restricted shares were recorded at $644 for the three months ended March 31, 2023, down from $927 in the same period of 2022[83] - Total unrecognized compensation expense related to nonvested restricted shares amounted to $4,188 as of March 31, 2023, expected to be recognized over 0.85 years[84] - Share-based compensation expense totaled $765,000 for the three months ended March 31, 2023, down from $1.532 million for the same period in 2022, a decrease of approximately 50%[93]

Company Transition and Structure - The company transitioned its global headquarters from Beijing, China to Phoenix, Arizona, effective January 1, 2023, and moved from a foreign private issuer to a domestic issuer[13]. - As of December 31, 2022, the company had 601 full-time employees, with 323 in research and development, 212 in sales and marketing, and 66 in management and administration[33]. SaaS Business and Revenue Generation - The SaaS businesses generate the majority of the company's revenue, with a significant portion of active users and subscribers providing opportunities for upselling and network effects[17]. - The majority of Chime's sales are derived from online digital marketing, with a focus on converting leads through internal sales teams[27]. - The strategy includes increasing revenue from existing customers by developing new features and services tailored to enterprise and mid-market accounts[19]. Product Development and Acquisitions - Chime, the company's all-in-one CRM and sales acceleration platform, was launched in August 2016 and has been enhanced with features like lead generation and marketing automation[20]. - The company acquired Rentancy, LTD in August 2022, marking its entry into the property management market with SaaS products and services[20]. - Trucker Path, acquired in December 2017, has over 800,000 active users and 90,000 paid subscriptions, serving the trucking industry with a comprehensive app[22]. - The company plans to pursue partnerships and acquisitions to expand its addressable market and enhance its platforms[19]. Team and Talent Management - The engineering team for Chime consists of 148 members, while Trucker Path has 167 members, both teams actively releasing monthly product updates[23][24]. - The company operates in a competitive environment for human capital, focusing on attracting and retaining talent in the SaaS sector[34]. - All employees are eligible to participate in equity incentive plans, promoting alignment with shareholders and aiding in employee retention[34]. Market Strategy and Customer Focus - The company aims to grow its customer base in fragmented markets, focusing on owner operators and real estate agents through inbound marketing and customer service[18]. - The sales performance of Chime is influenced by the macro cycle of the real estate market, while Trucker Path experiences more significant seasonal fluctuations[32].

Table of Contents (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITI ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) ¨ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019. OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ¨ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

Renren, Inc. (RENN) Q1 2019 Earnings Conference Call June 11, 2019 9:00 PM ET Company Participants Jintao Ren - CFO Joseph Chen - Founder, Chairman & CEO Conference Call Participants Tina Long - Crédit Suisse Operator Hello, ladies and gentlemen, thank you for standing by for Renren Inc.'s First Quarter 2019 Earnings Conference Call. [Operator Instructions]. Today's conference call is being recorded. I will now like to turn the call over to your host, Rachel Wang [ph], Investor Relations for the company. P ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) ¨ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 or x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018. or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to or ¨ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) ...