Benzinga | Aug 20, 2021 03:47PM EDT

Boqii Holding Stock Gains After Q1 Revenue Grows 35%

* Boqii Holding Ltd (NYSE:BQ) reported first-quarter FY22 sales growth of 35% year-on-year, to RMB321.8 ($49.8 million).

* Gross Merchandise Value (GMV) increased 42.9% Y/Y to RMB792.1 million ($122.7 million). Active buyers expanded 27.9% Y/Y to 1.6 million.

* Revenue from Boqii mall increased 20.5% Y/Y, and the Third-party e-commerce platforms rose 37.2%.

* Gross profit of RMB56.4 ($8.7 million) increased 30.3% with a gross margin of 17.5%. The margin contracted by 60 basis points Y/Y.

* The operating loss expanded to RMB41.55 million ($6.44 million).

* The company held RMB415.7 million ($64.4 million) in cash and equivalents as of June 30, 2021.

* EBITDA loss increased to RMB35.6 ($5.5) million. EPS of $(0.08) narrowed Y/Y.

* Price Action: BQ shares are trading higher by 5.18% at $2.64 on the last check Friday.