GlobeNewswire Inc | Nov 23, 2021 02:30AM EST

November 23, 2021

SHENZHEN, China, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Aurora Mobile Limited (Aurora Mobile or the Company) (NASDAQ: JG), a leading mobile developer service provider in China, today announced its unaudited financial results for the third quarter ended September 30, 2021.

Third Quarter 2021 Financial Highlights(SAAS Businesses#only)

-- Revenueswere RMB90.5 million (US$14.0 million), an increase of 38% year-over-year. -- Gross profitwas RMB67.4 million (US$10.5 million), an increase of 38% year-over-year. -- Gross marginwas 74.4%, compared with 74.7% in the same quarter of 2020.

# SAAS Businesses include both the Developer Services and Vertical Applications. Starting from the first quarter of 2021, the Company only has revenues from SAAS Businesses.

Third Quarter 2021 Financial Highlights (for the Group as a whole, where for the comparative third quarter in 2020, contribution from Targeted Marketing business was included)

-- Revenues were RMB90.5 million (US$14.0 million), a decrease of 17% year-over-year. -- Cost of revenues was RMB23.2 million (US$3.6 million), a decrease of 60% year-over-year. -- Gross profit was RMB67.4 million (US$10.5 million), an increase of 32% year-over-year. -- Total operating expenses were RMB103.7 million (US$16.1 million), an increase of 6% year-over-year. -- Net loss was RMB35.6 million (US$5.5 million), compared with a net loss of RMB43.7 million for the same quarter last year. -- Adjusted net loss (non-GAAP) was RMB26.2 million (US$4.1 million), compared with a RMB36.9 million adjusted net loss for the same quarter last year. -- Adjusted EBITDA (non-GAAP) was negative RMB16.1 million (US$2.5 million), compared with a negative RMB22.0 million for the same quarter last year.

Third Quarter 2021 Operational Highlights

-- Number of mobile apps utilizing at least one of the Companys developer services, or the cumulative app installations, increased to approximately 1,786,000 as of September 30, 2021 from approximately 1,645,000 as of September 30, 2020. -- Number of monthly active unique mobile devices increased to 1.44 billion in September 2021 from 1.39 billion in September 2020. -- Cumulative SDK installations increased to 55.4 billion as of September 30, 2021 from 43.8 billion as of September 30, 2020. -- Number of paying customers increased to 2,729 in the third quarter of 2021 from 2,405 in the third quarter of 2020.

Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, This is the third quarter we have been operating under the pure SAAS business model since the beginning of 2021. Our focus on building and growing our SAAS Businesses has been very successful. We have seen a steady and solid upward trend in the results of our SAAS Businesses including revenue, gross profit and a 27% improvement in Adjusted EBITDA from a year ago, demonstrating our strong operating leverage.

Revenues from our SAAS Businesses set another quarterly record with 48% growth in Developer Services, and 18% in Vertical Applications on a year-over-year basis. Our group margin has greatly improved from 47% a year ago to 74.4%, which was the result of our successful transition into the pure SAAS business model. The strong gross profit growth of our SAAS Businesses was mainly driven by revenue growth of 38% year-over-year.

The backbone of our continuous revenue growth has been our relentless team effort and prioritization of innovation in developer services products. In Q32021, we launched a free version of our core JPush product, featuring a brand-new upgrade to the HUB function whereby mobile app developers can easily integrate the 7 major mobile phone manufacturers and Operating Systems push channels into the app. This HUB function marks a new milestone of helping developers greatly improve their push results with very simple and efficient integration steps and cements our position as the leading push notification provider in China.

As one of several newly introduced products in 2021, our VAAS product has generated much customer interest. For example, during this quarter, one of the most renowned manufacturers in the smart home industry started testing our VAAS product on their smart home appliances intended for a wider roll out in the near future. By providing short videos that are tailored, customized and geared towards different user groups, and displayed on different appliances, our VAAS product continues to satisfy customers requirements and increase user stickiness and user retention time. We believe that our VAAS product has vast market potential and applications going forward.

Mr. Fei Chen, President of Aurora Mobile, added, Revenues from Developer Services reached RMB64.7 million, a robust 48% growth on a year-over-year basis. The year-over-year revenue growth was the result of strong growth of 32% in Subscription Services and a very impressive 84% growth in Value-added-services.

Subscription Services revenues were RMB39.8 million, an increase of 32% year-over-year, primarily driven by new customer acquisition. Our revenue contribution of non-push notification products increased to 43% from 31% a year ago, which is a result of our continuous cross-selling of non-push subscription products.

Value-added-services within Developer Services, which include revenues from JG Alliance services and Advertisement SAAS, achieved outstanding results where revenues grew significantly by 84% year-over-year to RMB24.9 million from RMB13.5 million in Q32020. The demand for our JG Alliance products has proven to be continuously strong since its introduction to the market, while the mini-program and app retargeting related demand continued to contribute a majority of the JG Alliance revenue in the third quarter of 2021.

Vertical Applications that cover Financial Risk Management, Market Intelligence and iZone, grew steadily by 18% year-over-year with the lions share of the growth coming from the Financial Risk Management business. In the Financial Risk Management segment, revenues increased substantially by 35% year-over-year with the help of the 37% growth in ARPU. The strong demand for our Financial Risk Management products has paved the way for us to acquire new customers and retain many existing customers every quarter.

Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, This is the third quarter where we have delivered SAAS Businesses-only results, and we are very pleased with the top line results we have achieved. We are equally excited to share our balance sheet results.

Our AR turnover days continued to shorten significantly from 45 days in Q32020 to 39 days this quarter. This was similar to the trend seen last quarter, due to both the shift away from the legacy Targeted Marketing to focus on the SAAS Businesses and the disciplined credit granting policy and our focus on improving AR collection. Total deferred revenue balance, which represents cash collected in advance from customers, was RMB119.0 million at quarter-end, exceeding RMB100 million for the 6th consecutive quarter. We believe that the growth momentum of the past three quarters will continue to bring more sound results in the coming quarters.

Third Quarter 2021 Financial Results

Revenues were RMB90.5 million (US$14.0 million), a decrease of 17% from RMB108.6 million in the same quarter of last year, mainly due to a 100% decrease in revenues from the legacy Targeted Marketing business as the Company exited this business by the end of 2020, and offset by the strong growth in revenues of 48% from Developer Services and 18% from Vertical Applications. In particular, the revenues from Value-added-services within Developer Services increased by 84% compared to the same quarter of last year.

Cost of revenues was RMB23.2 million (US$3.6 million), a decrease of 60% from RMB57.5 million in the same quarter of last year. The decrease was mainly due to the decrease in media cost of RMB32.7 million as the Company has completely exited from the legacy Targeted Marketing business by the end of 2020.

Gross profit was RMB67.4 million (US$10.5 million), an increase of 32% from RMB51.1 million in the same quarter of last year despite revenues decreased by 17% on a year-over-year basis. This is the result of our successful strategic shift in focus from a low margin legacy Targeted Marketing model to a high margin pure SAAS business model. Gross profit in the third quarter of 2021 was 100% contributed from the SAAS Businesses.

Total operating expenses were RMB103.7 million (US$16.1 million), an increase of 6% from RMB97.7 million in the same quarter of last year.

-- Research and development expenses were RMB55.5 million (US$8.6 million), an increase of 22% from RMB45.6 million in the same quarter of last year, mainly due to a RMB5.6 million increase in personnel costs and a RMB6.5 million increase in cloud cost to support the expansion of SAAS Businesses. The impact was partially offset by a RMB1.1 million decrease in depreciation. -- Sales and marketing expenses were RMB29.4 million (US$4.6 million), an increase of 5% from RMB28.0 million in the same quarter of last year, mainly due to a RMB1.6 million increase in personnel costs. -- General and administrative expenses were RMB18.8 million (US$2.9 million), a decrease of 22% from RMB24.1 million in the same quarter of last year, mainly due to a RMB6.9 million decrease in bad debt provision which was the result of our company-wide concerted focus on strict financial control measures, and the impact was offset by a RMB0.8 million increase in personnel costs.

Loss from operations was RMB36.4 million (US$5.6 million), compared with RMB46.6 million in the same quarter of last year.

Net Loss was RMB35.6 million (US$5.5 million), compared with RMB43.7 million in the same quarter of last year.

Adjusted net loss (non-GAAP) was RMB26.2 million (US$4.1 million), compared with RMB36.9 million in the same quarter of last year.

Adjusted EBITDA (non-GAAP) was negative RMB16.1 million (US$2.5 million) compared with negative RMB22.0 million for the same quarter of last year.

The cash and cash equivalents, restricted cash and short-term investments were RMB281.4 million (US$43.7 million) as of September 30, 2021 compared with RMB436.2 million as of December 31, 2020. The decrease was primarily due to convertible notes valued at US$35.0 million were fully redeemed in April 2021.

Business Outlook

Based on the current available information, the Company sees full year 2021 revenue guidance to be in the range of RMB350.0 million to RMB360.0 million, representing growth of 36% to 40% year-over-year compared with last year, and guidance for our full year gross margin to remain above 70%.

Please note that, for meaningful comparison purposes, the prior year revenue number used to calculate the growth percentage excludes revenues from the Targeted Marketing business. The above outlook is based on the current market conditions and reflects the Companys current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

Update on Share Repurchase

As of September 30, 2021, the Company had repurchased a total of 920,606 ADS. No ADS were repurchased during the third quarter in 2021.

Conference Call

The Company will host an earnings conference call on Tuesday, November 23, 2021 at 7:30 a.m. U.S. Eastern Time (8:30 p.m. Beijing time on the same day).

Due to the outbreak of COVID-19, operator assisted conference calls are not available at the moment. All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration.

Participant Online Registration: https://apac.directeventreg.com/registration/event/8343576

A telephone replay of the call will be available after the conclusion of the conference call through 9:00 p.m. U.S. Eastern Time, November 30, 2021.

The dial-in details for the replay are as follows:

International: +61 2 8199 0299 U.S. Toll Free: 1-855-452-5696 Passcode: 8343576

A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobiles website at https://ir.jiguang.cn/.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net loss and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net loss as net loss excluding share-based compensation, impairment of long-term investment and change in fair value of foreign currency swap contract. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, income tax expenses, share-based compensation, impairment of long-term investment and change in fair value of foreign currency swap contract.

The Company believes that adjusted net loss and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss.

The Company believes that adjusted net loss and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net loss and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Companys operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Companys performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, expects, anticipates, future, intends, plans, believes, estimates, confident and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobiles strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobiles beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobiles strategies; Aurora Mobiles future business development, financial condition and results of operations; Aurora Mobiles ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Companys filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

About Aurora Mobile Limited

Founded in 2011, Aurora Mobile is a leading mobile developer service provider in China. Aurora Mobile is committed to providing efficient and stable push notification, one-click verification, and app traffic monetization services to help developers improve operational efficiency, grow and monetize. Meanwhile, Aurora Mobiles vertical applications have expanded to market intelligence and financial risk management, empowering various industries to improve productivity and optimize decision-making.

For more information, please visit https://ir.jiguang.cn/.

For investor and media inquiries, please contact:

Aurora Mobile Limited

ir@jiguang.cn

Christensen

In China

Mr. Eric Yuan

Phone: +86-10-5900-1548

E-mail: eyuan@christensenir.com

In U.S.

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: lbergkamp@christensenir.com

Footnote:

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.4434 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2021.

AURORA MOBILE LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS

(Amounts in thousands of Renminbi (RMB) and US dollars (US$))

Three months ended Nine months ended September June 30, September 30, September September 30, 30, 30, 2020 2021 2021 2020 2021 RMB RMB RMB US$ RMB RMB US$ Revenues 108,601 88,961 90,517 14,048 365,619 256,126 39,750 Cost of (57,536 ) (21,586 ) (23,167 ) (3,595 ) (219,550 ) (63,255 ) (9,817 )revenues Gross profit 51,065 67,375 67,350 10,453 146,069 192,871 29,933 Operating expensesResearch and (45,623 ) (54,312 ) (55,511 ) (8,615 ) (133,994 ) (161,730 ) (25,100 )developmentSales and (27,981 ) (27,020 ) (29,358 ) (4,556 ) (79,978 ) (83,262 ) (12,922 )marketingGeneral and (24,050 ) (23,942 ) (18,831 ) (2,923 ) (75,570 ) (65,523 ) (10,169 )administrative Totaloperating (97,654 ) (105,274 ) (103,700 ) (16,094 ) (289,542 ) (310,515 ) (48,191 )expenses Loss from (46,589 ) (37,899 ) (36,350 ) (5,641 ) (143,473 ) (117,644 ) (18,258 )operations Foreignexchange (2 ) (1,500 ) 535 83 7 (969 ) (150 )(loss)/gain,netInterest 1,568 1,742 1,668 259 4,562 4,998 776 incomeInterest (2,972 ) (2,204 ) (1,936 ) (300 ) (8,903 ) (6,914 ) (1,073 )expenseOther income/ 4,147 8,699 (507 ) (79 ) 11,594 12,591 1,954 (loss)Change in fairvalue of 155 - - - 1,075 20 3 structurednotesChange in fairvalue offoreign - 1,905 1,019 158 - 2,924 454 currency swapcontract Lossbefore (43,693 ) (29,257 ) (35,571 ) (5,520 ) (135,138 ) (104,994 ) (16,294 )income taxes Income tax - (11 ) - - - (11 ) (2 )expenses Net loss (43,693 ) (29,268 ) (35,571 ) (5,520 ) (135,138 ) (105,005 ) (16,296 )

AURORA MOBILE LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS (continued)

(Amounts in thousands of Renminbi (RMB) and US dollars (US$),except for number of shares and per share data)

Three months ended Nine months ended September June 30, September 30, September September 30, 30, 30, 2020 2021 2021 2020 2021 RMB RMB RMB US$ RMB RMB US$ Net lossattributableto Aurora (43,693 ) (29,268 ) (35,571 ) (5,520 ) (135,138 ) (105,005 ) (16,296 )MobileLimited?sshareholders Net lossattributable (43,693 ) (29,268 ) (35,571 ) (5,520 ) (135,138 ) (105,005 ) (16,296 )to commonshareholders Net loss pershare, forClass A and Class Bcommonshares:Class ACommon Shares (0.56 ) (0.37 ) (0.45 ) (0.07 ) (1.75 ) (1.33 ) (0.21 )- basic anddilutedClass BCommon Shares (0.56 ) (0.37 ) (0.45 ) (0.07 ) (1.75 ) (1.33 ) (0.21 )- basic anddiluted Shares usedin net loss per sharecomputation:Class ACommon Shares 60,461,343 61,799,298 61,906,065 61,906,065 60,281,670 61,748,610 61,748,610 - basic anddilutedClass BCommon Shares 17,000,189 17,000,189 17,000,189 17,000,189 17,000,189 17,000,189 17,000,189 - basic anddiluted Othercomprehensive income/(loss)Foreigncurrency 2,360 1,188 (294 ) (46 ) 1,627 360 56 translationadjustments Total othercomprehensiveincome/ 2,360 1,188 (294 ) (46 ) 1,627 360 56 (loss), netof tax Comprehensive (41,333 ) (28,080 ) (35,865 ) (5,566 ) (133,511 ) (104,645 ) (16,240 )lossComprehensivelossattributable (41,333 ) (28,080 ) (35,865 ) (5,566 ) (133,511 ) (104,645 ) (16,240 )to AuroraMobileLimited

AURORA MOBILE LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEET

(Amounts in thousands of Renminbi (RMB) and US dollars (US$))

As of December 31, 2020 September 30, 2021 RMB RMB US$ ASSETS Current assets: Cash and cash equivalents 356,115 87,473 13,576Restricted cash 115 163,900 25,437Derivative assets 100 2,934 455Short-term investments 80,000 30,000 4,656Accounts receivable 44,886 40,988 6,361Prepayments and other current assets 49,013 56,320 8,741 Total current assets 530,229 381,615 59,226 Non-current assets: Long-term investments 168,526 165,598 25,700Property and equipment, net 73,522 68,899 10,693Intangible assets, net 9,519 6,811 1,057Other non-current assets 5,631 4,060 630 Total non-current assets 257,198 245,368 38,080 Total assets 787,427 626,983 97,306

LIABILITIES AND SHAREHOLDERS? EQUITY Current liabilities: Short-term loan - 150,000 23,280Accounts payable 16,592 13,530 2,100Deferred revenue and customer deposits 109,182 114,387 17,753

AURORA MOBILE LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEET (continued)

(Amounts in thousands of Renminbi (RMB) and US dollars (US$))

As of December 31, September 30, 2021 2020 RMB RMB US$ Accrued liabilities and other current 109,136 95,140 14,764 liabilitiesAmounts due to a related party - 87 14 Convertible notes 225,229 - - Total current liabilities 460,139 373,144 57,911 Non-current liabilities: Deferred revenue 6,049 4,576 710 Other non-current liabilities - 2,934 455 Total non-current liabilities 6,049 7,510 1,165 Total liabilities 466,188 380,654 59,076 Shareholders? equityCommon shares 48 49 8 Additional paid-in capital 988,812 1,018,546 158,076 Accumulated deficit (678,434 ) (783,439 ) (121,588 )Accumulated other comprehensive 10,813 11,173 1,734 income Total shareholders? equity 321,239 246,329 38,230 Total liabilities and shareholders? 787,427 626,983 97,306 equity

AURORA MOBILE LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands of Renminbi (RMB) and US dollars (US$))

Three months ended Nine months ended September 30, June 30, September 30, September 30, September 30, 2020 2021 2021 2020 2021 RMB RMB RMB US$ RMB RMB US$ Reconciliationof Net Loss toAdjustedNet Loss:Net loss (43,693 ) (29,268 ) (35,571 ) (5,520 ) (135,138 ) (105,005 ) (16,296 )Add: Share-based 6,835 7,528 7,754 1,203 22,946 26,790 4,158 compensationImpairment oflong-term - - 2,588 402 - 2,588 402 investmentChange in fairvalue offoreign - (1,905 ) (1,019 ) (158 ) - (2,924 ) (454 )currency swapcontractAdjusted net (36,858 ) (23,645 ) (26,248 ) (4,073 ) (112,192 ) (78,551 ) (12,190 )loss Reconciliationof Net Loss toAdjustedEBITDA:Net loss (43,693 ) (29,268 ) (35,571 ) (5,520 ) (135,138 ) (105,005 ) (16,296 )Add: Income tax - 11 - - - 11 2 expensesInterest 2,972 2,204 1,936 300 8,903 6,914 1,073 expenseDepreciationof property 10,770 7,028 7,086 1,100 29,418 20,492 3,180 and equipmentAmortizationof intangible 1,128 1,099 1,156 179 3,285 3,346 519 assetsEBITDA (28,823 ) (18,926 ) (25,393 ) (3,941 ) (93,532 ) (74,242 ) (11,522 )Add: Share-based 6,835 7,528 7,754 1,203 22,946 26,790 4,158 compensationImpairment oflong-term - - 2,588 402 - 2,588 402 investmentChange in fairvalue offoreign - (1,905 ) (1,019 ) (158 ) - (2,924 ) (454 )currency swapcontractAdjusted (21,988 ) (13,303 ) (16,070 ) (2,494 ) (70,586 ) (47,788 ) (7,416 )EBITDA

AURORA MOBILE LIMITED

UNAUDITED SAAS BUSINESSES REVENUE

(Amounts in thousands of Renminbi (RMB) and US dollars (US$))

Three months ended Nine months ended September June 30, September 30, September September 30, 30, 30, 2020 2021 2021 2020 2021 RMB RMB RMB US$ RMB RMB US$Reconciliationof SAASBusinesses Revenue toTotal RevenueDeveloper 43,709 61,168 64,677 10,038 120,925 178,285 27,669ServicesSubscription 30,160 37,538 39,773 6,173 85,825 110,987 17,225Value-Added 13,549 23,630 24,904 3,865 35,100 67,298 10,444ServicesVertical 21,886 27,793 25,840 4,010 60,406 77,841 12,081ApplicationsTotal SAASBusinesses 65,595 88,961 90,517 14,048 181,331 256,126 39,750RevenueAdd: TargetedMarketing 43,006 - - - 184,288 - -RevenueTotal Revenue 108,601 88,961 90,517 14,048 365,619 256,126 39,750SAASBusinesses 48,975 67,375 67,350 10,453 136,172 192,871 29,933Gross Profits^1SAASBusinesses 74.7% 75.7% 74.4% 74.4% 75.1% 75.3% 75.3%Gross Margin^2

^1Our SAAS Businesses Gross Profits is calculated after excluding the TargetedMarketing gross profit (which is calculated as revenue less media cost) fromthe Group?s total gross profit.

^2Our SAAS Businesses Gross Margin is calculated by dividing the SAASBusinesses Gross Profit by SAAS Businesses Revenue.