Recent MOMO transcripts
Associated MOMO filings
Cathey Peng | Head of IR |
Wang Li | Chief Executive Officer |
Wang Yu | Founder and Chief Executive Officer of Tantan |
Jonathan Zhang | Chief Financial Officer |
Thomas Chong | Jefferies |
Tian Hou | TH Capital |
* |
Ladies and gentlemen, thank you for standing by, and welcome to the Fourth Quarter and Full Year of 2020 Momo Incorporated Earnings Conference Call. [Operator Instructions] And please note that this conference is being recorded today. I would now like to hand the conference over to your first speaker today, Ms. Cathey Peng. Thank you. ma'am. ahead, go Please
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Hello, today. conference everyone. joining Thank our you. call for Thank you
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make this approval our As by tax authorities of notice the going this tax application qualification is adjustments assessed upon forward. relevant receipt we annually,
Momo's sheet in XX, flow turning billion cash cash operating the short-term long-term as cash At XX, Now equivalents, by billion and of cash, RMBXX.XX XXXX, December to RMBX.XX December activities XXXX. was billion. deposits totaled and compared RMBXX.XX to provided balance items. Net quarter fourth deposits
in X.X% Lastly to our on estimated range quarter-over-quarter. billion billion, first We a X.X% X.X% a outlook. to RMBX.XX to of the come XX.X% revenue XXXX decrease year-on-year representing to for RMBX.XX decrease business from of quarter to
revenue please? to and company's mindful conditions the low me XXs to QX decrease basis, Cathey of on from revenue in which That portion to that, to the are Cathey, With expected high is expected subject forecast view start operational Momo Please today's market to prepared concluded Tantan percentage. total preliminary the current call core percentage. Q&A. on our that grow let from teens and back year-over-year in Total XXXX, a the discussion. For turn the we be the change. the represent
first to question with other line The just Instructions] translation questions Chinese for the in Actually give ready Chong that and time the from who people of ask of Thank perhaps comes for quick more will And Jefferies. number questions. people to of if Thomas yourself. could to to two, [Operator limit the also questions. English one are Operator, the by first, for ask you. queue follow question you in reminder a
open. ahead. is Please Your line go
Thanks management for two taking my questions. questions. have I
overall revenue you. the you The New full possible. comment marketing second year Tantan. during Year comment this question and and spending as first And Chinese outlook? about and also, Can can the user management the my outlook, as the one the And for about spending. is about the if core year margin well trend about for Thank Momo is after
translate It weeks lunar has first. after me Let around the year been X holiday.
Momo fruits improving that and so year. trends, to to half approaches it's the that the out third seeing the already been New user on terms the marketing has encouraging core of pretty the time, on of the the One last front, More into core the specifically after fair side both coming a is core. attribute basic is terms pretty the traffic would experience say the we that And period year second trajectory DAU last adopted March grossing. During reform for in of of I factors. structural in December's both on is the in second during recovery we way. has major in the level exceeded positive progress and Momo. in factor that the the three the factor on channel average made far that social core Chinese And right Year meaningful the of
has looks we're grossing streaming me. improvement On it in a going But acceleration from is VAS period Its here. an basis notable we -- sequential -- pretty up live entered QX, are both growth to grossing around pretty a steady which New in like see QX to decline the streaming, live Chinese see exceeded for It significant and front, into already weeks has has pre-Chinese see during outperformer wide did impressive and New truly X we of a Year. level. been VAS even meaningful going pretty a now, exceeded streaming the and mean that until already Year on very live very far last far to the --
big some ready it's now but trends the although very share. little are whole prescriptive, I'm bit still a year, For too get to early to here that
-- and For ecosystem reaching still the the tail live content in I still diversifying long about be will improving content. this streaming, think year
we steady reason, I'm overall see at I the QX. steady also to profit on So revenue. gross going improvement aggressive gradual happen to short-term a not as we happen stimulate need continues the to that the level, well. as that number ecosystem and not said, to recover, top for the definitely needed to priority. approaches And just of at content adopt would I level as improvement as And going But revenue to one spending is put stabilization
a VAS flattish is in number -- a comparison we're more growth because are vantage in distribution from relative into does and as also product core, VAS greater the to a does distribution And and towards be platform. seeing leaning have perspective, also a structure live also more have greater a of a with to with number, more streaming. we on opportunities comparison that, live streaming we For going actually it traffic the more the that social it knitted flattish have structure tightly allocation
as revenue percentage as rise. a revenue, So continue that I is this is on going a also my to -- QX level, the of is reach going expected group total to fundamental to the that we robustly entertaining a it's out that of that from live the streaming XX% social the hoping I'm think VAS to differentiation very have we In is be to to platform year-over-year in VAS is also can to expectation as there. opposed VAS providers also market. advantage ratio the revenue. growing out future, That there year and other in At close still drive basis continue
are I we differentiation going think this and the that us bigger on did to than in year advantage past. you see a in way capitalizing guys
Wang to here's about Yu Now talk Tantan.
Okay.
[indiscernible] make the So firstly, order user and early Chinese fixing let focused pretty acquisition a building New on our the on much other technical materials, to Year trends. in we effective. elaborate campaigns me and In February, stuff more bit January
they February. -- from late early in December ticking up continued the and started January So week user trends They February. usually
broadcasting last this December, broadcasters saw holiday to a marketing long to from slow the DAU majority had period, number further have also channels of the year the of difficult recovery. track coming time the total tail streaming better winter dive than on from said, services. deep [indiscernible] and a while a decline significant pretty our we're Because As strong the the live QX. revenue wise winter we March during to seasonality are and due revenue costs to big period, see manage. streaming Revenue very The a we lowering deliver
come we and QX revenue to gradually the Now from expect back the supply onwards. has ramp up
with we months, We're new we've New the whole direction. It Year definitely priority approach shows we to line, the for Revenue that other and platform. neither in most profit. see success initial campaign. the be will this In any certainly which and year. up the definitely these long-term user of about products single post-Chinese the going they should thoughts few Tantan some towards on But are year. most growth sorting in about a year. is had if goals growth product a put important the coming the out marketing and outcome priorities lined the Now heading this User wise, is top. the of of that solid bottom improving right ladder some product the We aim acquisition growth. top year, one user efforts, user few this against is not this the at on company financial temporarily ratio user top confident the we're care retention of for goes and year, We updates, further goals, the
an example. Here's
to which users, newly approach, going adjusted benefit has percentage As acquired a dating I our much the is a said, big, higher after females marketing now of ecosystem. we Tantan be for in big
However, meet quarterly because women paying ratio the lump. that to actually pretty less to need to because chain Previously, much to in reverse focus cetera. conversion raise on growth decent that are pretty likely believe significantly, But to be conversion see top have we tried paying revenue lowers paying et the would the future. and an line that pay important numbers overall, what's our really going on users we this said, we're XXXX. the the That is aside year, example for to we're short-term for put numbers and still going to going I this in
drivers Here are it. for some
growth growth. user Firstly, will drive VAS
rolling new features going few out this Secondly, to we're year. be a monetization
sub [ph]. are Some cards based others of are these other and
For sort of the our VAS. dating example, gifting people voice on the experience the drives that virtual around
hand streaming monetization Thanks. with of product raising this in in it most VAS, coordinating not this the to [indiscernible]. make go from we year, prefer goes which in with relation levels. For live further live everything majority also together, more we revenue of likely hand subservient coming we'll and to Putting will year to This year, streaming. end any the terms
is Jon. this Thomas,
question. me your second Let address
On payment amount for strategy to of dollar from level year. the Momo, core for -- the last for channels, we looking for marketing dollar -- investment same same amount, similar channel are the the marketing actually keep
the and however, to as on flexibility some apps getting focusing we the And our new Yu grow with revenue new on that said, initiatives. more But, are growth those new invest like Wang to year revenues to keep However, are this apps. users tractions. the of for do those we
marketing resources revenue I So to looking for probably available around new core the percentage for we total are probably guess Momo. X to We're at initiatives. X increase of looking those
So lot of plan we're only -- a to adjustments but, go make because level on ROI. however, on spending the performance this of really on we basis, where it depending as the
moving that's piece. So the
For Tantan, Yu mentioned, team priority Wang top as is just growth. the user on Tantan's
will We're efficiencies to So much the on really its they're how going product improvement rollout. really pace going -- we're and depend marketing spend of the to and of it going magnitude to spend? --
the So if And slower. spend if up and VAS more. revenue more need revenue bit we however, VAS grow we up time, more. will the move we'll But spend less faster, we will ramp a will
range focusing down of narrowing are loss line further At year's net stage, managing adjusted a the we RMBXXX line. instead bottom are million RMBXXX million last from by targeting target, of XXXX by this line more at to we on level. for So, the down looking
the that's Tantan on side. So,
prepared that's from from the side, on ending for the the -- starting difficulty] on top In profit terms margin gross the Momo, margin the for gross potentials incentive expect program newly [technical during new to And do margin additional I impact as QX. gross we of on due launched trends, broadcasters, of remarks, margin core side. mentioned
might year. some other as revenue however, that difficulty] And, margin there But, have on a will the however, basis can apply be will are expect significant. You don't quarterly mix such impact. the a [technical factors probably throughout the we impact
year a and -- also gross expenses the So, the see potential X% higher you. margin to for core Thank downtick will marketing Momo. from X% overall, selling the
Got it. you. Thank
in the for we're of in. interest and Operator take be maybe one take -- last operator, interest yes, will for ready we we -- the the this next time, --
Thank you. Yes.
go line of TH Capital. Tian of Please next Our the from ahead. Hou question is
Yes. Good management. morning,
XXXX. a VAS. at pretty Just rapidly financial on growing for confidence was VAS also the expressed Mr. the Wang results question and Look enough
to Wang my XXXX? for bit Mr. can little drivers That's further So question. VAS elaborate the grow a continue in
opportunities growth. the actually future seeing are plenty outlook as well regards in product revenue of With we to VAS, innovations for terms as VAS growth in both of
a spend of actually users this is time to all. live Momo in variety experiences social of are not pool can big and that that is of XX% I in of As traffic. over we the a streaming on said, cultivate related lot at There potential
of line. which around our is than growth paying proven we're other mainly both also meaningful core the which that newer in core separate the some we addition experience. new continuous Momo. a Things specifically, be matchmaking the to pull karaoke the Other applications experience, that going opportunities into area to website And bring levers be looking chat a the this for older revenue all the at we few than -- the this applications application, these within game interactive experiences. one is to Momo In they is Things opportunities so continue term in of to of the and are effective could and experiences the and revenue be opportunities longer the These More [indiscernible]. going I also new in of room. like contributors couple plays several more year to year new new second is the is our on into we VAS the gifting have revenue Tantan, are And room and product the push -- the And within had innovations more can of into increasingly think the [technical innovations other Hertz year opportunity -- the drivers. video fruition VAS experience, as the experience a are the key becoming new can chat side. these new we're drive [indiscernible] testing. difficulty]. driver a and third growth driver Number like the coming beyond XXXX, that
new started for a making it drivers in we have example, gifting since difficulty] experience, VAS old also This have actually introduction last after year around [technical is to around activate group it also people's one many pay But year of the interest experience introduce growing that the XXXX. into years the to VAS. the been For the continue most to has of been for order in year after the willingness and the line. for plans the very impressively important to stuff group new chatting one-to-one chatting [ph]
growth, Now of a experiences. very content overextension ARPPU stage is of about terms and user of Tantan, in at VAS development paying actually the early
X think, is obviously, X other of priority user I Tantan But growth the of coming bigger potential the years, form Tantan revenue Momo biggest, the pulling have levers. for -- potential actually year today. bigger to actually VAS should revenue this in on in than instead biggest has
I think markets the open. we're approaching
we're And we for -- the will today. question you quarter. conference close. Thank We'll take up today. ready last be that joining see up for So you to wraps wrap call that that Operator, also next us. the
you. Thank
you. Thank
Thank you. that concludes you [technical participating. difficulty]. today’s Ladies Thank and gentlemen, for
all You may disconnect. now
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