iHuman Inc. Announces Third Quarter 2024 Unaudited Financial Results

Financial Performance - Revenues for the third quarter of 2024 were RMB239.4 million (US$34.1 million), a decrease of 8.4$23.4 million), compared to RMB186.6 million in the same period last year, with a gross margin of 68.4%, down from 71.4% [19] - Operating income was RMB20.7 million (US$2.9 million), compared to RMB40.4 million in the same period last year [12][19] - Net income was RMB25.1 million (US$3.6 million), down from RMB51.9 million in the same period last year, with basic and diluted net income per ADS at RMB0.48 (US$0.07) and RMB0.47 (US$0.07), respectively [12][19] User Engagement - Average total Monthly Active Users (MAUs) reached a record high of 29.12 million, representing a year-over-year increase of 14.8% from 25.36 million [12][19] - The increase in MAUs was attributed to effective execution of user acquisition strategies and ongoing product innovation [19] Operating Expenses - Total operating expenses were RMB143.2 million (US$20.4 million), compared to RMB146.2 million in the same period last year [13] - Sales and marketing expenses increased by 12.7$8.7 million) due to strategic spending on promotional activities and brand enhancement [2] - General and administrative expenses decreased by 11.8% to RMB23.0 million (US$3.3 million) due to savings in payroll and other administrative costs [2][28] Share Repurchase Program - The board of directors authorized an extension of the existing share repurchase program by another twelve months through December 31, 2025, reflecting confidence in the company's business prospects [3] Cash Position - Cash, cash equivalents, and short-term investments were RMB1,168.6 million (US$166.5 million) as of September 30, 2024, down from RMB1,213.8 million as of December 31, 2023 [8]