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Benzinga
Benzinga
Business
Anusuya Lahiri

Uxin Registers 57% Revenue Growth In Q3 Backed By Solid Transaction Volume

Nasdaq
  • Chinese online used car dealer Uxin Ltd (NASDAQ:UXIN) reported third-quarter FY22 revenue growth of 56.9% year-on-year to $79.5 million (RMB506.6 million).
  • The transaction volume surged by 110.9% Y/Y to 4,865 units.
  • Retail vehicle sales revenue declined 23.1% Y/Y to $36.6 million.
  • Wholesale vehicle sales revenue was $41.7 million compared with nil last year.
  • The gross margin expanded 120 bps to 4.1%. Uxin clocked a Non-GAAP EPS loss of $(0.01) per share. 
  • Uxin held $25.3 million in cash and equivalents.
  • Outlook: Uxin sees Q4 revenue of RMB440 million - RMB460 million due to the city-wide lockdown between late December 2021 to late January 2022 in Xi'an coupled with the traditional Spring Festival off-season.
  • Price Action: UXIN shares closed higher by 2.76% at $1.49 on Monday.
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