Accessibility Statement Skip Navigation
  • Resources
  • Investor Relations
  • Journalists
  • Agencies
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • Arabic
      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Explore Our Platform
  • Plan Campaigns
  • Create with AI
  • Distribute Press Releases
  • Amplify Content
  • All Products
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Hamburger menu
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • Explore Our Platform
  • Plan Campaigns
  • Create with AI
  • Distribute Press Releases
  • Amplify Content
  • All Products
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS

Renren Announces Unaudited Second Quarter 2016 Financial Results


News provided by

Renren Inc.

Aug 16, 2016, 07:50 ET

Share this article

Share toX

Share this article

Share toX

BEIJING, Aug. 16, 2016 /PRNewswire/ -- Renren Inc. (NYSE: RENN) ("Renren" or the "Company"), a leading real-name social networking internet platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2016. 

Second Quarter 2016 Highlights

  • Total net revenues were US$14.4 million, a 38.5% increase from the corresponding period in 2015.
    • Advertising and IVAS net revenues were US$7.6 million, a 14.6% decrease from the corresponding period in 2015.
    • Financing income was US$6.8 million, compared to US$1.5 million in the corresponding period of 2015.
  • Gross profit was US$1.3 million.
  • Operating loss was US$18.8 million, compared to an operating loss of US$25.3 million in the corresponding period in 2015.
  • Net loss attributable to the Company was US$46.1 million, compared to a net loss of US$70.3 million in the corresponding period in 2015.
  • Adjusted net loss(1) (non-GAAP) was US$40.6 million, compared to an adjusted net loss of US$64.3 million in the corresponding period in 2015.

(1) Adjusted net income (loss) is a non-GAAP measure, which is defined as net income (loss) excluding share-based compensation expenses and amortization of intangible assets. See "About Non-GAAP Financial Measures" below.

Second Quarter 2016 Results 

Total net revenues for the second quarter of 2016 were US$14.4 million, representing a 38.5% increase from the corresponding period in 2015.

Advertising and IVAS net revenues were US$7.6 million, representing a 14.6% decrease from the corresponding period of 2015. Advertising revenues were US$0.8 million for the second quarter of 2016, a 78.7% decrease from the corresponding period of 2015. The decrease was due to increasing competition and the continuing migration of our traffic to mobile. Internet Value-Added Services (IVAS) revenues were US$6.8 million, representing a 34.7% increase from the corresponding period in 2015. The increase was mainly due to the revenue from woxiu and the new Renren mobile live streaming revenue started this quarter. Monthly unique log-in users decreased from approximately 45 million in June 2015 to approximately 35 million in June 2016.

Financing income was US$6.8 million for the second quarter of 2016, compared to US$1.5 million in the corresponding period of 2015. The increase was in line with the increase of financing receivable from US$62.4 million as of June 30, 2015 to US$207.2 million as of June 30, 2016.

Cost of revenues was US$13.1 million, a 75.4% increase from the corresponding period of 2015.

Operating expenses were US$20.1 million, a 28.7% decrease from the corresponding period of 2015.

Selling and marketing expenses were US$5.2 million, a 40.5% decrease from the corresponding period of 2015. The decrease was primarily due to a decrease in advertising expenses, headcount reductions, and a decrease in personnel related expense.  

Research and development expenses were US$4.6 million, a 46.5% decrease from the corresponding period in 2015. The decrease was primarily due to headcount reductions and a decrease in personnel related expense.

General and administrative expenses were US$10.2 million, a 4.9% decrease from the corresponding period in 2015. 

Share-based compensation expenses, which were all included in operating expenses, were US$5.5 million, compared to US$6.2 million in the corresponding period in 2015. 

Operating loss was US$18.8 million, compared to an operating loss of US$25.3 million in the corresponding period in 2015.

Realized gain on short-term investments was US$0.7 million, compared to a loss of US$48.8 million in the corresponding period in 2015.

Earnings in equity method investments were US$1.4 million, compared to earnings of US$3.3 million in the corresponding period in 2015.

Net loss attributable to the Company was US$46.1 million, compared to a net loss of US$70.3 million in the corresponding period in 2015.

Adjusted net loss (non-GAAP) was US$40.6 million, compared to an adjusted net loss of US$64.3 million in the corresponding period in 2015. Adjusted net loss is defined as loss excluding share-based compensation expenses and amortization of intangible assets.

Business Outlook

The Company expects to generate revenues in an amount ranging from US$17.5 million to US$19.5 million in the third quarter of 2016, representing a 98.4% to 121.1% year-over-year increase, driven by the new Renren mobile live streaming and financing business. This forecast reflects Renren's current and preliminary view, which is subject to change.

Conference Call Information

The Company will not host a conference call. Please contact our Investor Relations Department if you have any questions.

About Renren Inc.

Renren Inc. (NYSE: RENN) operates a leading real name social networking service (SNS) and an internet finance business in China. Our SNS enables users to connect and communicate with each other, share photos and access mobile live streaming. Our internet finance business includes primarily consumer financing and auto financing. Renren.com and our renren mobile application had approximately 236 million activated users as of June 30, 2016.Renren's American depositary shares, each of which represents three Class A ordinary shares, trade on NYSE under the symbol "RENN".

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of 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" and similar statements. Among other things, the business outlook for the third quarter of 2016 and quotations from management in this announcement, as well as Renren's strategic and operational plans, contain forward-looking statements. Renren may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Renren's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our goals and strategies; our future business development, financial condition and results of operations; the expected growth of the social networking site market in China; our expectations regarding demand for and market acceptance of our services; our expectations regarding the retention and strengthening of our relationships with key advertisers and customers; our plans to enhance user experience, infrastructure and service offerings; competition in our industry in China; and relevant government policies and regulations relating to our industry. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Renren does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement Renren's consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), Renren uses "adjusted net income (loss)" which is defined as "a non-GAAP financial measure" by the SEC, in evaluating its business. We define adjusted net income (loss) as net income (loss) excluding share-based compensation expenses and amortization of intangible assets. We present adjusted net income (loss) because it is used by our management to evaluate our operating performance. We also believe that this non-GAAP financial measure provide useful information to investors and others in understanding and evaluating our consolidated results of operations in the same manner as our management and in comparing financial results across accounting periods and to those of our peer companies.

The presentation of this non-GAAP financial measure is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliation of non-GAAP results of operations measures to the comparable GAAP financial measures" at the end of this release.

For more information, please contact:

Cynthia Liu
Investor Relations Department
Renren Inc.
Tel: (86 10) 8448 1818 ext. 1300
Email: [email protected]

RENREN INC.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)


(Amounts in US dollars, in thousands, except shares,


December 31,


June 30,

per share, ADS, and per ADS data)


2015


2016








 ASSETS 














 Current assets: 







 Cash and cash equivalents 


$

56,226


$

78,224

 Restricted Cash 



122,316



23,355

 Short-term investments 



2,619



568

 Accounts and notes receivable, net 



4,044



3,238

 Financing receivable, net 



144,457



201,321

 Prepaid expenses and other current assets 



50,321



31,668

 Amounts due from related parties 



16,484



13,801

 Current assets held for sale  



7,471



-

 Total current assets 



403,938



352,175








 Non-current assets: 







 Long-term financing receivable, net 



15,273



5,857

 Property and equipment, net 



33,289



31,039

 Long-term investments 



810,990



749,526

 Other non-current assets 



2,313



1,837

 Non-current assets held for sale 



2,030



-








 Total non-current assets 



863,895



788,259








 TOTAL ASSETS 


$

1,267,833


$

1,140,434








 LIABILITIES AND EQUITY 














 Current liabilities: 







 Accounts payable 


$

5,031


$

3,575

 Short-term debt 



106,919



8,040

 Accrued expenses and other current liabilities 



29,731



21,839

 Payable to investors 



48,893



148,904

 Amounts due to related parties 



36



10,736

 Deferred revenue and advance from customers  



3,885



7,573

 Income tax payable 



6,118



6,672

 Current liabilities held for sale 



8,138



-

 Total current liabilities 



208,751



207,339








 Non-current liabilities: 







 Long-term debt 



122,072



97,304

 Other non-current liabilities 



7,622



9,751

 Total non-current liabilities 



129,694



107,055








 TOTAL LIABILITES 



338,445



314,394








 Shareholders' Equity: 







 Class A ordinary shares 



714



718

 Class B ordinary shares 



305



305

 Additional paid-in capital 



1,243,083



1,256,818

 Statutory reserves 



6,712



6,712

 Accumulated deficit 



(357,394)



(426,642)

 Accumulated other comprehensive income  



37,124



(11,871)








 Total Renren Inc. shareholders' equity 



930,544



826,040








 Noncontrolling Interests 



(1,156)



-








 TOTAL EQUITY 



929,388



826,040








 TOAL LIABILITIES AND EQUITY 


$

1,267,833


$

1,140,434

RENREN INC.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)


For the Three Months Ended


For the Six Months Ended

(Amounts in US dollars, in thousands, except shares,

June 30,


March 31,


June 30,


June 30,


June 30,

per shares, ADS, and per ADS data)

2015


2016


2016


2015


2016
















 Net revenues 















 Advertising and IVAS 

$

8,878


$

6,098


$

7,583


$

16,987


$

13,681

 Financing income 


1,502



4,681



6,792



1,734



11,473

 Total net revenues 


10,380



10,779



14,375



18,721



25,154
















 Cost of revenues  


(7,477)



(8,414)



(13,118)



(15,293)



(21,532)
















 Gross profit 


2,903



2,365



1,257



3,428



3,622
















 Operating expenses: 















 Selling and marketing 


(8,771)



(4,619)



(5,222)



(16,353)



(9,841)

 Research and development 


(8,616)



(5,339)



(4,610)



(17,374)



(9,949)

 General and administrative 


(10,770)



(11,584)



(10,238)



(22,743)



(21,822)
















 Total operating expenses 


(28,157)



(21,542)



(20,070)



(56,470)



(41,612)
















 Loss from operations 


(25,254)



(19,177)



(18,813)



(53,042)



(37,990)
















 Other income 


522



2,932



8,404



737



11,336

 Exchange loss on offshore bank accounts 


(18)



-



(3)



(62)



(3)

 Interest income 


35



238



252



1,531



490

 Interest expense 


-



(3,279)



(2,681)



-



(5,960)

 Realized (loss) gain on short-term investments 


(48,809)



(117)



698



(47,693)



581

 Impairment of long term investment 


-



-



(35,000)



-



(35,000)

 Loss before provision of income tax, earnings (loss)
in equity method investments and noncontrolling
interest, net of income tax 


(73,524)



(19,403)



(47,143)



(98,529)



(66,546)

 Income tax expenses 


(2,150)



(582)



(364)



(2,859)



(946)
















 Loss before earnings (loss) in equity method
investments and noncontrolling interest, net of
income tax 


(75,674)



(19,985)



(47,507)



(101,388)



(67,492)

 Earnings (loss) in equity method investments, net of
income tax 


3,333



(11,866)



1,409



3,850



(10,457)

 Loss from continuing operations 


(72,341)



(31,851)



(46,098)



(97,538)



(77,949)
















 Discontinued operation 















 Income from operations of discontinued operations, net of
income tax 


1,856



391



-



3,227



391

 Gain on deconsolidation of the subsidiaries, net of
income tax 


-



8,310



-



-



8,310

 Income from discontinued operations, net of income
tax 


1,856



8,701



-



3,227



8,701
















 Net loss 


(70,485)



(23,150)



(46,098)



(94,311)



(69,248)

 Net loss attributable to noncontrolling interests 


191



-



-



266



-
















 Net loss  attributable to Renren Inc. 

$

(70,294)


$

(23,150)


$

(46,098)


$

(94,045)


$

(69,248)
















 Net loss per share from continuing operations
attributable to Renren Inc.shareholders:















 Basic 

$

(0.07)


$

(0.03)


$

(0.05)


$

(0.10)


$

(0.08)

 Diluted 

$

(0.07)


$

(0.03)


$

(0.05)


$

(0.10)


$

(0.08)

 Net income per share from discontinued operations
attributable to Renren Inc.shareholders: 















 Basic 

$

0.00


$

0.01


$

-


$

0.00


$

0.01

 Diluted 

$

0.00


$

0.01


$

-


$

0.00


$

0.01

 Net loss per share attributable to Renren Inc.
shareholders: 















 Basic 

$

(0.07)


$

(0.02)


$

(0.05)


$

(0.09)


$

(0.07)

 Diluted 

$

(0.07)


$

(0.02)


$

(0.05)


$

(0.09)


$

(0.07)

 Net loss attributable to Renren Inc. shareholders per
ADS: 















 Basic 

$

(0.21)


$

(0.07)


$

(0.14)


$

(0.28)


$

(0.20)

 Diluted 

$

(0.21)


$

(0.07)


$

(0.14)


$

(0.28)


$

(0.20)
















 Weighted average number of shares used in
calculating net loss per ordinary share from
continuing operations attributable to Renren Inc.
shareholders: 















 Basic 


1,018,522,306



1,020,390,797



1,022,385,038



1,020,421,822



1,021,387,919

 Diluted 


1,018,522,306



1,020,390,797



1,022,385,038



1,020,421,822



1,021,387,919

 Weighted average number of shares used in
calculating net income  per ordinary share from
discontinued operations attributable to Renren Inc.
shareholders: 















 Basic 


1,018,522,306



1,020,390,797



1,022,385,038



1,020,421,822



1,021,387,919

 Diluted 


1,026,788,329



1,032,344,050



1,022,385,038



1,026,948,989



1,028,585,350

 Reconciliation of Non-GAAP results of operations measures to the comparable GAAP financial measures 

 Adjusted net loss 


For the Three Months Ended


For the Six Months Ended


June 30,


March 31,


June 30,


June 30,


June 30,

(Amounts in US dollars, in thousands)

2015


2016


2016


2015


2016
















 Net loss 

$

(70,485)


$

(23,150)



(46,098)



(94,311)



(69,248)

 Add back: Shared-based compensation expenses 


6,169



7,204



5,457



12,363



12,661

  Add back: Amortization of intangible assets 


33



21



-



33



21

 Adjusted net loss 

$

(64,283)


$

(15,925)



(40,641)



(81,915)



(56,566)

SOURCE Renren Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED

Modal title

Contact PR Newswire

  • Call PR Newswire at 888-776-0942
    from 8 AM - 9 PM ET
  • Chat with an Expert
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Italy
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom
  • Vietnam

My Services

  • All New Releases
  • Platform Login
  • ProfNet
  • Data Privacy

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Platform Login
  • ProfNet
Call PR Newswire at
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookies
Copyright © 2025 Cision US Inc.