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Dingdong (Cayman) Limited Announces Fourth Quarter 2024 Financial Results
DDLDingdong(DDL) Prnewswire·2025-03-06 09:30

Core Insights - Dingdong (Cayman) Limited achieved non-GAAP profitability for the ninth consecutive quarter and GAAP profitability for the fourth consecutive quarter, indicating strong financial performance and growth momentum [3][4][10] - The company reported a revenue of RMB 5.91 billion (approximately US809million)forQ42024,representingan18.3 809 million) for Q4 2024, representing an 18.3% year-over-year increase, driven by higher user penetration, improved conversion rates, and increased average revenue per user (ARPU) [3][4][5] - Dingdong's gross merchandise volume (GMV) reached RMB 6.55 billion (approximately US 897 million), marking an 18.4% year-over-year rise, reflecting consistent growth over four consecutive quarters [5][6] Financial Performance - Total revenues for Q4 2024 were RMB 5,905.0 million (US809.0million),upfromRMB4,993.5millioninQ42023,anincreaseof18.3 809.0 million), up from RMB 4,993.5 million in Q4 2023, an increase of 18.3% year-over-year [4][5] - Non-GAAP net income surged by 617.9% year-over-year to RMB 116.7 million (US 16.0 million), compared to RMB 16.3 million in the same quarter of 2023 [10][32] - GAAP net income for Q4 2024 was RMB 91.6 million (US12.5million),asignificantturnaroundfromanetlossofRMB4.4millioninQ42023[9][10]CostStructure−TotaloperatingcostsandexpensesforQ42024wereRMB5,848.0million(US 12.5 million), a significant turnaround from a net loss of RMB 4.4 million in Q4 2023 [9][10] Cost Structure - Total operating costs and expenses for Q4 2024 were RMB 5,848.0 million (US 801.2 million), compared to RMB 5,029.8 million in the same quarter of 2023 [5][28] - Cost of goods sold increased by 18.8% year-over-year to RMB 4,120.8 million (US564.5million),withthecostofgoodssoldasapercentageofrevenuesslightlyincreasingto69.8 564.5 million), with the cost of goods sold as a percentage of revenues slightly increasing to 69.8% from 69.4% [6][28] - Fulfillment expenses rose by 9.1% year-over-year to RMB 1,278.9 million (US 175.2 million), but as a percentage of total revenues, it decreased to 21.7% from 23.5% in the same quarter of 2023 [6][7] Cash Flow and Liquidity - Operating net cash inflow for Q4 2024 was RMB 190.9 million (US26.2million),markingthesixthconsecutivequarterofpositivenetinflow[5][12]−Cashandcashequivalents,restrictedcash,andshort−terminvestmentstotaledRMB4,452.2million(US 26.2 million), marking the sixth consecutive quarter of positive net inflow [5][12] - Cash and cash equivalents, restricted cash, and short-term investments totaled RMB 4,452.2 million (US 609.9 million) as of December 31, 2024, down from RMB 5,309.7 million a year earlier [12][24] Future Outlook - The company aims to sustain year-over-year growth in scale and achieve non-GAAP profits in Q1 2025, indicating a positive outlook for continued financial performance [13]