Benzinga | Aug 24, 2021 02:56PM EDT

BlueCity Holdings Clocks 18% Revenue Growth In Q2

* BlueCity Holdings Ltd (NASDAQ:BLCT) reported second-quarter FY21 revenue growth of 18% year-on-year, to RMB291.9 million ($45.2 million).

* Revenues from Live streaming services improved 6.1% Y/Y to RMB223.0 million ($34.5 million), Membership services rose 113% to RMB33.7 million ($5.2 million), and Advertising services climbed 67.7% to RMB18.0 million ($2.8 million).

* Monthly active users (MAUs) of BlueCity's portfolio apps increased 29.3% Y/Y to 8.3 million, while total paying users rose 58.1% Y/Y to 0.724 million.

* The operating loss expanded to RMB(36.2) million ($(5.6) million). Adjusted Net Loss widened to RMB(38.4) million ($(5.9) million).

* BlueCity held RMB453.7 million ($70.3 million) in cash and equivalents as of June 30, 2021.

* Outlook: BlueCity sees FY21 revenue of RMB1.15 billion - RMB1.20 billion.

* Price Action: BLCT shares are trading higher by 1.13% at $4.46 on the last check Tuesday.