The following is a summary of the Dada Nexus Limited (DADA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Dada Nexus Limited reported Q1 2024 total net revenues of RMB2.5 billion.

• Revenue from Dada Now segment rose by 57% YoY to RMB1.2 billion, denoting the highest growth rate in the past eight quarters.

• The company posted a non-GAAP net loss for the quarter of RMB195 million, and the non-GAAP net loss margin was 7.9%.

• Dada Nexus had a total of RMB3.8 billion in cash, cash equivalents, restricted cash, and short-term investments at the end of Q1 2024.

Business Progress:

• Dada Nexus rebranded its on-demand retail service to JD NOW, expanding its reach to over 2,300 cities and counties and collaborating with over 500,000 physical stores.

• The company experienced a notable improvement in core operating metrics, with monthly transacting users and orders via the JD app growing YoY at a rate of over 70%.

• The company intends to continue enhancing its user experience via ongoing investments and upgrading their fulfillment services.

• The Company plans on strategically increasing its order volume and revenue by focusing on their KA or chain merchants business within Dada Now's delivery services.

• Dada Nexus has seen the year-over-year growth rate of GMV through the JD app channel accelerate in Q1.

• An average fulfillment time per order decrease for the JD NOW business on the JD app by 12% year-over-year was also recorded in Q1.

More details: Dada Nexus IR

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