Aurora Mobile Limited Q4 FY2025 earnings call

1. Revenue surged in Q4, breaking through Q3 earnings call guidance. 2. Engagelab won new customers globally, driving ARR growth. 3. Gross profit grew significantly. 4. Operating cash inflow was at a high. 5. 2025 was a year of pure brilliance with first full-year net-gap profit and three consecutive quarters of net-gap profit. 6. Solid execution in 2025 across different markets drove top-line performance. 7. Engagelab's ARR reached a record high, with cumulative fund contract value and new contracts signed. 8. Had 17 partners in engagement ecosystem as of December 2025. 9. Subscription revenue had notable gains from certain customers. 10. Vertical application had good quarter with financial risk management growth. 11. OPEX had increases in R&D, selling and marketing, while G&A was flat. 12. Net profit achieved first full-year gap net profit in 2025.

1. Q4 revenue surged to $105.2 million, a double-digit 1.3% year-over-year and 1.6% sequential growth. 2. Engagelab's ARR for December 2025 reached a record high of US$10 million, 186% year-over-year growth. 3. Developer subscription services: Revenue grew 7% year-over-year and 18% quarter-over-quarter. Subscription Revenue increased 13% year-over-year and 7% quarter-over-quarter. Value Added Services Revenue grew 101% quarter-over-quarter but decreased 13% year-over-year. Office developer subscription services revenue was RMB 61.9 million, 1.3% year-over-year growth and 8% quarter-over-quarter growth. 4. Vertical application: Financial risk management revenue grew 43% year-over-year and 12% quarter-over-quarter; Market intelligence revenue decreased 24% year-over-year and 3% quarter-over-quarter. 5. Gross profit grew 23% year-over-year and 9% quarter-over-quarter, the highest in past 16 quarters. 6. Operating cash inflow hit RMB 35.1 million, highest since Q4 2020. 7. Net dollar retention rate for core developer subscription business was 103% for trailing 12-month period ended December 31, 2025. 8. Total deferred revenue stood at $178.7 million in Q4 2025. 9. AR turnover days at 37 days.

The company sees the 2026 full-year revenue guidance to be in the range of $450 million to $480 million, representing a 20% to 28% year-over-year growth compared to 2025.

Q: Calvin Wong with Spica Capital asked about the top three things that management did well to deliver good financials.

A: Management mentioned first, making the right decision to venture overseas; second, making serious commitment in terms of investment in the right product offering for overseas market; third, the entire organization being in sync and aligned to the strategic initiative of going overseas.

Q: Jackson with Golongwe Research asked about how to look at the real-world financials for the first quarter of 2026.

A: Management said Aurora Mobile has proven to be able to achieve full-year net profit with positive cash inflow, domestic business continues stable growth, Engagelab has certain growth prospect, and AI strategy will provide next phase of growth momentum, and management is confident on business prospect in 2026 and beyond