UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2024
Commission File Number: 001-38313
iClick Interactive Asia Group Limited
(Translation of registrant’s name into English)
15/F
Prosperity Millennia Plaza
663 King’s Road, Quarry Bay
Hong Kong S.A.R., People’s Republic of China
Tel: +852 3700 9000
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
EXHIBIT INDEX
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| iClick Interactive Asia Group Limited | ||
| By: | /s/ Josephine Ngai | |
| Name: | Josephine Ngai | |
| Title: | Chief Financial Officer |
Date: November 27, 2024
3
Exhibit 99.1
FOR IMMEDIATE RELEASE
iClick Interactive Asia Group Limited Announces Closing of Disposal of Its Mainland China Demand Side Marketing Solutions Business
HONG KONG — November 27, 2024 — iClick Interactive Asia Group Limited (“iClick” or the “Company”) (NASDAQ: ICLK), a renowned online marketing and enterprise solutions provider in Asia that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced that it has closed its previously announced disposal of its demand side marketing solutions business in mainland China in accordance with the terms and conditions of the share purchase agreement dated September 11, 2024.
The Company will continue to enhance operational efficiency and realign its business focus to adapt to market trends. These efforts aim to improve liquidity and profitability, which the Company believes could contribute to long-term shareholder value.
About iClick Interactive Asia Group Limited
Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a renowned online marketing and enterprise solutions provider in Asia. With its leading proprietary technologies, iClick’s full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. For more information, please visit https://ir.i-click.com.
Safe Harbor Statement
This press release contains forward-looking statements, including those related to the Company’s business strategies, operations and financial performance. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks and uncertainties. All information provided in this press release is current as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For investor and media inquiries, please contact:
| In China: | In the United States: |
| iClick Interactive Asia Group Limited | Core IR |
| Catherine Chau | Tom Caden |
| Phone: +852 3700 9100 | Phone: +1-516-222-2560 |
| E-mail: ir@i-click.com | E-mail: tomc@coreir.com |
Exhibit 99.2
FOR IMMEDIATE RELEASE
iClick Interactive Asia Group Limited
Reports 2024 Half-Year Unaudited Financial Results
Hong Kong, November 27, 2024 -- iClick Interactive Asia Group Limited (“iClick” or the “Company”) (Nasdaq: ICLK), a renowned online marketing and enterprise solutions provider in Asia that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced unaudited financial results for the six months ended June 30, 2024.
| Six Months Ended June 30, | ||||||||||||
| 2024 | 2023 | Percentage change | ||||||||||
| (US$ in thousands) | ||||||||||||
| (Unaudited) | ||||||||||||
| Financial Metrics: | ||||||||||||
| Revenue from continuing operations | ||||||||||||
| Marketing Solutions | 9,324 | 12,663 | (26 | )% | ||||||||
| Enterprise Solutions | 4,896 | 4,330 | 13 | % | ||||||||
| Total revenue from continuing operations | 14,220 | 16,993 | (16 | )% | ||||||||
| Gross profit from continuing operations | 8,096 | 9,276 | (13 | )% | ||||||||
| Net loss from continuing operations | (1,269 | ) | (10,275 | ) | N/M | |||||||
| Net loss from discontinued operations | (5,104 | ) | (18,294 | ) | N/M | |||||||
| Diluted net loss from continuing operations per American Depositary Shares (“ADS”) | (0.12 | ) | (1.01 | ) | N/M | |||||||
| Operating Metrics: | ||||||||||||
| Gross billing | 23,060 | 29,983 | (23 | )% | ||||||||
“I am pleased to report that our continuing operations recorded an improvement in gross margin to 56.9% in the first half of 2024 from 54.6% in the first half of 2023, and we saw the increase in enterprise solutions revenue by 13% year-over-year. The Company will continue to focus on improving the financial performance and cash flows, while exploring strategic opportunities for broader business growth.”, said Mr. Jian Tang, Chairman, Chief Executive Officer and Co-Founder of iClick.
“We continue monitoring and evaluating operations and market trends proactively in order to optimize our business and enhance profitability. We have recently completed the disposal of our mainland China Enterprise Solutions business and demand side Marketing Solutions business. The results of these businesses are presented under discontinued operations.”
First Half Year of 2024 Results on Continuing Operations:
Revenue for the first half of 2024 was US$14.2 million, compared with US$17.0 million for the first half of 2023. Revenue from Marketing Solutions declined to US$9.3 million for the first half of 2024, compared with US$12.7 million for the first half of 2023. It was resulted from our strategic contraction of lower margin and higher risk businesses, with weaker demand from clients on advertising spending due to uncertainty in the macro-economic environment. Revenue from Enterprise Solutions was US$4.9 million for the first half of 2024, improved from US$4.3 million in the first half of 2023 due to the increasing demand for digital transformation and services.
Gross profit for the first half of 2024 was US$8.1 million, compared with US$9.3 million for the first half of 2023. With the effort of reducing lower margin and higher risk businesses, and a rising revenue contribution from the higher-margin Enterprise Solutions business, gross profit margin increased to 56.9% for the first half of 2024 from 54.6% for the first half of 2023.
Total operating expenses were US$12.4 million for the first half of 2024, decreased from US$14.1 million for the first half of 2023. The change was primarily due to our cost optimization execution, which resulted in reduction of staff cost and savings on promotional expenses. The expected credit losses provision of trade receivables was also reduced because of our close monitoring of cash collection.
Net loss from continuing operations was US$1.3 million for the first half of 2024, significantly improved from the net loss of US$10.3 million for the first half of 2023, mainly due to no impairment of equity investments in the first half of 2024, which we recorded US$5.6 million in the first half of 2023. Operating loss was reduced by US$0.6 million.
Net loss from continuing operations attributable to the Company’s shareholders per basic and diluted ADS for the first half of 2024 was US$0.12, compared with a net loss attributable to the Company’s shareholders per basic and diluted ADS of US$1.01 for the first half of 2023.
Gross billing1 from continuing operations was US$23.1 million for the first half of 2024, compared with US$30.0 million for the first half of 2023, mainly as a result of our continued strategy of reducing lower margin and higher risk businesses, as well as clients’ reduced advertising spending.
Net loss from discontinued operations was US$5.1 million for the first half of 2024, compared with the net loss of US$18.3 million for the first half of 2023, mainly due to cost optimization, and gain on disposal of discontinued operations amounting to US$2.6 million in the first half of 2024.
As of June 30, 2024, the continuing operations of the Company had cash and cash equivalents, time deposits and restricted cash of US$70.2 million, compared with US$41.3 million as of December 31, 2023.
About iClick Interactive Asia Group Limited
Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a renowned online marketing and enterprise solutions provider in Asia. With its leading proprietary technologies, iClick's full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. For more information, please visit https://ir.i-click.com.
| 1 | Gross billing is defined as the aggregate dollar amount that clients pay the Company after deducting rebates paid and discounts given to. |
Safe Harbor Statement
This announcement contains forward-looking statements, including those related to the Company’s business strategies, operations and financial performance. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks and uncertainties. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For investor and media inquiries, please contact:
| In China: | In the United States: |
| iClick Interactive Asia Group Limited | Core IR |
| Catherine Chau | Tom Caden |
| Phone: +852 3700 9100 | Tel: +1-516-222-2560 |
| E-mail: ir@i-click.com | E-mail: tomc@coreir.com |
(financial tables follow)
ICLICK INTERACTIVE ASIA GROUP LIMITED
Unaudited Condensed Consolidated Statements of Comprehensive Loss
(US$’000, except share data and per share data, or otherwise noted, unaudited)
| Six Months Ended June 30, | ||||||||
| 2024 | 2023 | |||||||
| Continuing operations | ||||||||
| Revenue | 14,220 | 16,993 | ||||||
| Cost of revenue | (6,124 | ) | (7,717 | ) | ||||
| Gross profit | 8,096 | 9,276 | ||||||
| Operating expenses | ||||||||
| Research and development expenses | (311 | ) | (265 | ) | ||||
| Sales and marketing expenses | (4,381 | ) | (8,826 | ) | ||||
| General and administrative expenses | (7,704 | ) | (5,052 | ) | ||||
| Total operating expenses | (12,396 | ) | (14,143 | ) | ||||
| Interest expense | (32 | ) | (117 | ) | ||||
| Interest income | 598 | 591 | ||||||
| Other gains/(losses), net | 2,560 | (5,756 | ) | |||||
| Loss before income tax expense and share of losses from an equity investee | (1,174 | ) | (10,149 | ) | ||||
| Share of losses from an equity investee | (37 | ) | (19 | ) | ||||
| Loss before income tax expense | (1,211 | ) | (10,168 | ) | ||||
| Income tax expense | (58 | ) | (107 | ) | ||||
| Net loss from continuing operations | (1,269 | ) | (10,275 | ) | ||||
| Net loss attributable to non-controlling interests | 111 | 9 | ||||||
| Net loss from continuing operations attributable to iClick Interactive Asia Group Limited’s ordinary shareholders | (1,158 | ) | (10,266 | ) | ||||
| Discontinued operations | ||||||||
| Loss from operations of discontinued operations | (7,666 | ) | (18,305 | ) | ||||
| Income tax (expense)/credit | (23 | ) | 11 | |||||
| Gain on disposal of discontinued operations | 2,585 | - | ||||||
| Net loss from discontinued operations | (5,104 | ) | (18,294 | ) | ||||
| Net loss attributable to non-controlling interests | 32 | 49 | ||||||
| Net loss from discontinued operations attributable to iClick Interactive Asia Group Limited’s ordinary shareholders | (5,072 | ) | (18,245 | ) | ||||
| Net loss | (6,373 | ) | (28,569 | ) | ||||
| Net loss attributable to iClick Interactive Asia Group Limited’s ordinary shareholders | (6,230 | ) | (28,511 | ) | ||||
| Net loss from continuing operations | (1,269 | ) | (10,275 | ) | ||||
| Other comprehensive loss: | ||||||||
| Foreign currency translation adjustment, net of US$nil tax | (13 | ) | (131 | ) | ||||
| Comprehensive loss from continuing operations | (1,282 | ) | (10,406 | ) | ||||
| Comprehensive loss from continuing operations attributable to non-controlling interests | 111 | 49 | ||||||
| Comprehensive loss from continuing operations attributable to iClick Interactive Asia Group Limited’s ordinary shareholders | (1,171 | ) | (10,357 | ) | ||||
| Six Months Ended June 30, | ||||||||
| 2024 | 2023 | |||||||
| Net loss from discontinued operations | (5,104 | ) | (18,294 | ) | ||||
| Other comprehensive income: | ||||||||
| Foreign currency translation adjustment, net of US$nil tax | - | 301 | ||||||
| Comprehensive loss from discontinued operations | (5,104 | ) | (17,993 | ) | ||||
| Comprehensive loss from discontinued operations attributable to non-controlling interests | 32 | 20 | ||||||
| Comprehensive loss from discontinued operations attributable to iClick Interactive Asia Group Limited’s ordinary shareholders | (5,072 | ) | (17,973 | ) | ||||
| Comprehensive loss attributable to iClick Interactive Asia Group Limited’s ordinary shareholders | (6,243 | ) | (28,330 | ) | ||||
| Net loss from continuing operations per ADS attributable to iClick Interactive Asia Group Limited’s ordinary shareholders | ||||||||
| — Basic | (0.12 | ) | (1.01 | ) | ||||
| — Diluted | (0.12 | ) | (1.01 | ) | ||||
| Net loss from discontinued operations per ADS attributable to iClick Interactive Asia Group Limited’s ordinary shareholders | ||||||||
| — Basic | (0.51 | ) | (1.79 | ) | ||||
| — Diluted | (0.51 | ) | (1.79 | ) | ||||
| Net loss per ADS attributable to iClick Interactive Asia Group Limited’s ordinary shareholders | ||||||||
| — Basic | (0.63 | ) | (2.80 | ) | ||||
| — Diluted | (0.63 | ) | (2.80 | ) | ||||
| Weighted average number of ADS used in per share calculation: | ||||||||
| — Basic | 9,955,943 | 10,178,966 | ||||||
| — Diluted | 9,955,943 | 10,178,966 | ||||||
ICLICK INTERACTIVE ASIA GROUP LIMITED
Unaudited Condensed Consolidated Balance Sheets
(US$’000, except share data and per share data, or otherwise noted, unaudited)
| As of June 30, 2024 | As of December 31, 2023 | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents, time deposits and restricted cash | 70,239 | 41,264 | ||||||
| Accounts receivable, net of allowance for credit losses of US$1,558 and US$1,571 as of June 30, 2024 and December 31, 2023 respectively | 11,210 | 13,535 | ||||||
| Other current assets | 15,813 | 11,516 | ||||||
| Discontinued operations | 54,454 | 93,488 | ||||||
| Total current assets | 151,716 | 159,803 | ||||||
| Non-current assets | ||||||||
| Other assets | 3,727 | 3,596 | ||||||
| Discontinued operations | 112 | 305 | ||||||
| Total non-current assets | 3,839 | 3,901 | ||||||
| Total assets | 155,555 | 163,704 | ||||||
| Liabilities and equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable | 3,310 | 4,462 | ||||||
| Bank borrowings | 36,932 | 1,965 | ||||||
| Other current liabilities | 23,830 | 20,200 | ||||||
| Discontinued operations | 56,607 | 93,445 | ||||||
| Total current liabilities | 120,679 | 120,072 | ||||||
| Non-current liabilities | ||||||||
| Other liabilities | 221 | 551 | ||||||
| Discontinued operations | 1,463 | 1,829 | ||||||
| Total non-current liabilities | 1,684 | 2,380 | ||||||
| Total liabilities | 122,363 | 122,452 | ||||||
| Equity | ||||||||
| Ordinary shares – Class A (US$0.001 par value; 80,000,000 shares authorized as of June 30, 2024 and December 31, 2023, respectively; 38,752,446 shares and 44,477,356 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively) | 39 | 45 | ||||||
| Ordinary shares – Class B (US$0.001 par value; 20,000,000 shares authorized as of June 30, 2024 and December 31, 2023, respectively; 5,034,427 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively) | 5 | 5 | ||||||
| Treasury shares (218,396 shares and 6,398,616 shares as of June 30, 2024 and December 31, 2023, respectively) | (39 | ) | (28,656 | ) | ||||
| Other reserves | 31,853 | 65,731 | ||||||
| Total iClick Interactive Asia Group Limited shareholders’ equity | 31,858 | 37,125 | ||||||
| Non-controlling interests | 1,334 | 4,127 | ||||||
| Total equity | 33,192 | 41,252 | ||||||
| Total liabilities and equity | 155,555 | 163,704 | ||||||