iClick Enjoys Strong Q4; Stock Inches Higher

iClick reported strong revenue growth and a turn to profit.
Benjamin WangMar 25,2021,19:10

The stock in iClick Interactive Asia Group Ltd. (Nasdaq: ICLK) climbed 1% by midday Thursday to $11.46 per American depositary share as it announced strong revenue growth in the fourth quarter.

The Hong Kong-based provider of online marketing and enterprise data solutions said in a statement today that in the three months through December its revenue reached $78.7 million, up 39% year-over-year. Net income hit $600,000, or 1 cent per share, in contrast to a net loss of $6 million, or 10 cents per share, in the same period of 2019.

IClick attributed the improved results to its marketing solutions and enterprise solutions revenue, which hit $53.1 million and $10.6 million, representing a year-over-year increase of 28% and 193%, respectively.

The company has been attempting to boost its stock level through a series of share buyback programs, the most recent of which was launched in January.

Jian Tang, the chief executive officer and co-founder of iClick, stated, "2020 was another record year for iClick, as we continue to evolve into an integrated Enterprise and Marketing Cloud Platform in China.”

Tang added, “While we expect continued growth in both Marketing Solutions and Enterprise Solutions in the coming quarters and beyond, we also expect additional partnerships with other global technology leaders to further complement our product offerings and capabilities, especially in Enterprise Solutions.”

Earlier this year, the company announced a partnership with Baozun (Nasdaq: BZUN) and Tencent International Business Group (HKEX:00700).

Established in 2009, ICLK’s marketing technology platform extends to 98% of China’s internet users, according to the company. With more than 450 employees, iClick operates in 10 locations.

Topics:iClick; China; U.S.