What's Going On With Aurora Mobile Stock Thursday?

Aurora Mobile Limited JG stock traded lower Thursday after reporting a first-quarter FY23 revenue decline of 23% year-on-year to $9.5 million.

Segments: Revenues from Developer Services reached $6.6 million, down 24% Y/Y, mainly due to the weakness in Value-added-services. Subscription Services were $5.5 million, up 9% Y/Y, primarily fueled by increasing ARPU, and Value-added-services within Developer Services declined 69% Y/Y to $1.2 million due to the weak advertising demand.

The gross margin expanded by 170 bps to 70.3%. 

Adjusted EPS loss was $(0.01).

Adjusted EBITDA loss was $(1.1) million.

Aurora Mobile held $12.9 million in cash and equivalents.

Weidong Luo, Chairman, and CEO, said, "We carried on with our strict cost management strategy and cautious hirings, flattened our management structure, and, as a result, our overall expenditures have continued to drop year-over-year and quarter-over-quarter."

Price Action: JG shares traded lower by 4.3% at $0.2935 premarket on the last check Thursday.