Aurora Mobile (JG) Q4 2024 earnings summary

Executive summary

• Achieved first full-year adjusted EBITDA profitability in 14 years, with six consecutive quarters of positive adjusted EBITDA and a net operating cash inflow of RMB 19.5 million, the highest in 17 quarters.

• Q4 2024 revenue reached a record RMB 93.2 million, up 20% year-over-year, with all business lines contributing to growth.

• Overseas business EngageLab posted nearly 200% year-over-year revenue growth, with new contract value up RMB 10 million in Q4 and expansion to 37+ countries.

• Net loss narrowed by 96% year-over-year and 68% quarter-over-quarter, with Q4 net loss at RMB 0.7 million, significantly improved from RMB 16.7 million last year.

• Net dollar retention rate for core developer subscription business was 95% for the trailing 12 months, up from 92% in the prior period.

Financial highlights

• Developer services revenue rose 28% year-over-year and 24% quarter-over-quarter in Q4; subscription services revenue hit RMB 54.7 million, up 12% year-over-year and 6% quarter-over-quarter.

• Value-added services revenue surged 142% year-over-year and 180% quarter-over-quarter, reaching RMB 16.3 million, driven by online shopping festivals.

• Financial Risk Management revenue grew 34% year-over-year, with 24% customer growth and 8% ARPU increase.

• Q4 gross profit was RMB 56.7 million, up 6% year-over-year; gross margin for Q4 was 60.9%.

• Deferred revenue reached a record RMB 147.1 million, marking 12 consecutive quarters above RMB 130 million.

Outlook and guidance

• Q1 2025 revenue guidance is RMB 74–77.5 million, representing 15–20% year-over-year growth.

• Management remains optimistic about future growth, citing strong market signals, robust SaaS demand, and ongoing overseas expansion.