HONG
KONG, Oct. 18, 2024 /PRNewswire/ -- CLPS
Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS),
today announced its financial results for the six months
ended June 30, 2024 and full year of fiscal 2024.
Fiscal year 2024 presented unique challenges due to global
economic uncertainties and industry-wide layoffs. Despite these
headwinds, CLPS demonstrated resilience and strategic foresight. We
proactively adjusted our operations to navigate these complexities,
positioning ourselves for continued growth. Our dual-engine
strategy, focused on expanding our global reach and diversifying
into new industry segments, proved instrumental in achieving this
goal. In addition, the increasing demand for advanced IT services
and skilled professionals offers a promising landscape for CLPS to
capitalize on international business opportunities and drive future
success.
Unaudited Second Half of Fiscal 2024 Highlights (all results
compared to the six months ended June 30, 2023)
- Revenue from customized IT solution services increased by 40.0%
to $1.9 million from $1.4 million.
- Revenue from academic education services reached $1.0 million during this period, as a result of
the College of Allied Educators Pte. Ltd. ("CAE") acquisition.
- Revenue generated outside of mainland China increased by 48.0% to $13.3 million from $9.0
million. In particular:
- Revenue generated from Singapore increased by 34.3% to $6.3 million from $4.7
million.
- Revenue generated from Hong Kong SAR increased by 72.0% to
$4.0 million from $2.3 million.
- Revenue generated from the United
States increased by 37.9% to $2.5
million from $1.8
million.
- Gross profit increased by 7.3% to $17.2
million from $16.0
million.
- Net loss was $0.9 million,
compared to a net loss of $1.2
million.
Audited Fiscal Year 2024 Highlights (all results compared to
the twelve months ended June 30, 2023)
- Revenue generated outside of mainland China increased by 37.9% to $22.3 million from $16.2
million. In particular:
- Revenue generated from Singapore increased by 25.8% to $11.0 million from $8.7
million.
- Revenue generated from Hong Kong SAR increased by 44.9% to
$6.2 million from $4.3 million.
- Revenue generated from the United
States increased by 57.2% to $4.4
million from $2.8
million.
- Accounts receivable turnover period improved to 111 days, down
from 123 days.
- Net cash provided by operating activities was $8.9 million, representing the third consecutive
fiscal year of generating positive cash flow from operations.
Mr. Raymond Lin, Chief Executive Officer of CLPS,
commented, "While our financial results for this fiscal year may
not have met our initial expectations, I am proud of our team's
tenacity and agility in navigating a challenging market
environment. Despite facing headwinds primarily due to strategic
shifts by some of our clients, we have taken proactive steps to
mitigate potential losses and position ourselves for long-term
growth.
Our commitment to providing exceptional service to our clients
has enabled us to retain our loyal client base and attract new
business. Additionally, our strategic acquisition of CAE, a
Singapore-based learning
institution, along with Shell Infotech Pte. Ltd. and its
wholly-owned subsidiary, Shell Infotech Consulting Sdn. Bhd., has
further strengthened our position in the Southeast Asia region for IT services, while
expanding our capabilities and market reach. In addition, we have
diversified our business by entering sectors such as loan,
e-commerce, tourism, and education through acquisitions, enhancing
and complementing our core offerings in these areas to drive
growth.
Anticipating a surge in demand for IT solutions, driven by
factors like accelerated digital transformation, widespread
adoption of remote work, and the growing emphasis on efficient and
flexible IT infrastructure by companies, we established the China
Development Center ("CDC") and the Global Testing Center ("GTC")
during this period. These centers will help us maintain a
competitive edge in the evolving IT landscape going forward.
Looking ahead, we remain committed to delivering long-term value
to our shareholders. By continuing to focus on operational
excellence, financial discipline, and strategic growth, we are
confident in our ability to navigate future challenges and
capitalize on emerging opportunities."
Ms. Rui Yang, Chief Financial Officer of CLPS,
commented, "Our global expansion strategy has been one of the key
focus during this fiscal year, resulting in a 37.9% increase in
revenue generated outside of mainland China. Our Asia-Pacific operations have demonstrated
impressive growth, with Singapore,
Hong Kong, and Japan reporting substantial increases of
25.8%, 44.9%, and 122.5%, respectively. In North America, our presence in Canada has been fortified, and our US
operations have experienced a significant surge, driven by
increased visibility, strategic hiring, and growing demand for our
services, resulting in a 57.2% increase in revenue. Additionally,
our recent expansion into Dubai, UAE, has further solidified our
global footprint and opened up new opportunities to serve the
thriving Middle East market. These
achievements underscore the strength of our team, the value of our
offerings, and the effectiveness of our global strategy.
Over the past three fiscal years, we have consistently generated
positive operating cash flows, demonstrating our effective cash
management strategies. In this fiscal year, we improved our
accounts receivable turnover period to 111 days from 123 days,
enhancing our liquidity and enabling future investments and
business expansion."
Unaudited Second Half of Fiscal Year 2024 Financial
Results
Revenues
In the second half of fiscal 2024, revenues decreased
by $2.6 million, or 3.5%, to $71.0 million from
$73.6 million in the prior year
period. The decrease in revenue was mainly due to the decreased
demand in IT consulting services.
Revenues by Service
- Revenue from IT consulting services decreased by $4.2 million, or 5.8%, to $67.3 million in the second half of fiscal 2024,
from $71.5 million in the prior year
period. Revenue from IT consulting services accounted for 94.8% of
total revenue, compared to 97.1% in the prior year period. The
decrease was due to the decreased demand from existing
clients.
- Revenue from customized IT solution services increased by
$0.5 million, or 40.0%, to
$1.9 million in the second half of
fiscal 2024, from $1.4 million in the
prior year period. Revenue from customized IT solution services
accounted for 2.7% of total revenue, compared to 1.9% in the prior
year period. The increase was primarily due to the increased demand
from existing automotive area clients.
- Revenue from academic education services was $1.0 million, primarily due to the acquisition of
CAE.
- Revenue from other services decreased by $0.1 million, or 3.1%, to $0.7 million in the second half of fiscal 2024,
from $0.8 million in the prior year
period. Revenue from other services accounted for 1.0% of total
revenue, consistent with the prior year's period. The decrease was
primarily due to the decreased demand for other services, including
head hunting service.
Revenues by Operational Areas
- Revenue from banking area decreased by $0.6 million, or 2.1% to $28.7 million in the second half of fiscal 2024,
from $29.3 million in the prior year
period. Revenue from banking area accounted for 40.3% and 39.8% of
total revenues in the second half of fiscal 2024 and 2023,
respectively.
- Revenue from wealth management area decreased by $1.6 million, or 8.5% to $17.0 million in the second half of fiscal 2024,
from $18.6 million in the prior year
period. Revenue from wealth management area accounted for 23.9% and
25.2% of total revenues in the second half of fiscal 2024 and 2023,
respectively.
- Revenue from e-Commerce area decreased by $1.5 million, or 13.2% to $10.2 million in the second half of fiscal 2024,
from $11.7 million in the prior year
period. Revenue from e-Commerce area accounted for 14.3% and 16.0%
of total revenues in the second half of fiscal 2024 and 2023,
respectively.
- Revenue from automotive area decreased by $0.7 million, or 8.1% to $7.0 million in the second half of fiscal 2024,
from $7.7 million in the prior year
period. Revenue from automotive area accounted for 9.9% and 10.4%
of total revenues in the second half of fiscal 2024 and 2023,
respectively.
Revenues by Geography
- Revenue generated outside of mainland China increased by 48.0% to $13.3 million in the second half of fiscal year
2024, from $9.0 million in the prior
year period. The increase was primarily due to strong performance
of our operations in Singapore,
Hong Kong SAR and the U.S., reflecting the Company's successful and
continuous implementation of its global expansion strategy.
Gross Profit
Gross profit increased by $1.2 million, or 7.3%,
to $17.2 million in the second half of fiscal 2024,
from $16.0 million in the prior year period. The increase
was primarily due to our efforts to optimize the cost of sales in
response to the decrease in total revenue.
Operating Expenses
Selling and marketing expenses increased by $1.2 million,
or 199.9%, to $1.8 million in the second half of fiscal 2024,
from $0.6 million in the prior year period. As a
percentage of total revenues, selling and marketing expenses
increased to 2.6% in the second half of fiscal 2024, compared to
0.8% in the prior year period. The increase was primarily due to an
increase in sales staff to capture business growth
opportunities.
Research and development expenses decreased by $0.02
million, or 0.4%, to $3.96 million in the second half of
fiscal 2024, from $3.98 million in the prior year period.
As a percentage of total revenues, research and development
expenses increased to 5.6% in the second half of fiscal 2024,
compared to 5.4% in the prior year period. The research and
development expenses approximately remained relatively stable
compared to the same period last year.
General and administrative expenses increased by $3.0
million, or 27.3%, to $13.9 million in the second half of
fiscal 2024, from $10.9 million in the prior year period.
As a percentage of total revenues, general and administrative
expenses increased to 19.6% in the second half of fiscal 2024,
compared to 14.9% in the prior year period. The increase was
primarily due to the establishment of our CDC and GTC, which
supported our efforts to capture the anticipated growth in demand
for customized IT solution services.
Operating Loss
Operating loss was $1.6 million in the second half of
fiscal 2024, compared to operating loss of $1.3
million in the same period of the previous year. Operating
margin was -2.3% compared to -1.7% in the prior year period.
Other Income and Expenses
Total other income, net of other expenses was $0.6 million
in the second half of fiscal 2024, compared to $0.5 million
total other income, net of other expenses in the same period
of previous year.
(Benefit) Provision for Income Taxes
Benefit for income taxes was $0.2 million in the second
half of fiscal 2024, compared to a provision for income taxes
of $0.5 million in the same period of
the previous year.
Net (Loss) Income and EPS
Net loss was $0.9 million in the
second half of fiscal 2024, compared to a net loss of $1.2 million in the prior year period.
Non-GAAP net loss[1] was $0.4
million in the second half of fiscal 2024, compared to a
Non-GAAP net income of $1.7
million in the prior year period.
Net loss attributable to CLPS Incorporation's shareholders
was $0.8 million, or $0.03 basic and diluted losses
per share in the second half of fiscal 2024, compared to a net loss
attributable to CLPS Incorporation's shareholders of $1.1
million, or $0.05 basic and diluted losses per share in the
second half of fiscal 2023.
Non-GAAP net loss attributable to CLPS Incorporation's
shareholders2 was $0.4 million,
or $0.02 basic and diluted losses per share in the second
half of fiscal 2024, compared to non-GAAP net income attributable
to CLPS Incorporation's shareholders of $1.8 million,
or $0.08 basic and diluted earnings per share in the second
half of fiscal 2023.
Audited Fiscal Year 2024 Financial Results
Revenues
Revenues decreased by $7.6 million, or 5.0%, to $142.8
million in the fiscal year 2024, from $150.4 million in the prior year period. The
decrease in revenue was mainly due to the decreased demand in IT
consulting services.
Revenues by Service
- Revenue from IT consulting services decreased by $7.5 million, or 5.2%, to $136.8 million in the fiscal year 2024, from
$144.3 million in the prior year
period. Revenue from IT consulting services accounted for 95.8% of
total revenue, compared to 96.0% in the prior year period. The
decrease was due to the decreased demand from existing
clients.
- Revenue from customized IT solution services decreased by
$1.5 million, or 30.9%, to
$3.1 million in the fiscal year 2024,
from $4.6 million in the prior year
period. Revenue from customized IT solution services accounted for
2.2% of total revenue, compared to 3.0% in the prior year period.
The decrease was primarily due to the decreased demand from
existing clients.
- Revenue from academic education services was $1.0 million, primarily due to the acquisition of
CAE.
- Revenue from other services increased by $0.3 million, or 17.3%, to $1.8 million in the fiscal year 2024, from
$1.5 million in the prior year
period. Revenue from other services accounted for 1.2% of total
revenue, compared to 1.0% in the prior year period. The increase
was primarily due to the increased demand for other services,
including software sales.
Revenues by Operational Areas
- Revenue from banking area decreased by $4.3 million, or 7.1% to $57.2 million in the fiscal year 2024, from
$61.5 million in the prior year
period. Revenue from banking area accounted for 40.0% and 40.9% of
total revenues in the fiscal year 2024 and 2023, respectively.
- Revenue from wealth management area decreased by $1.8 million, or 4.7% to $35.6 million in the fiscal year 2024, from
$37.4 million in the prior year
period. Revenue from wealth management area accounted for 24.9% of
total revenues in the fiscal year 2024, consistent with the prior
year's period.
- Revenue from e-Commerce area decreased by $4.3 million, or 17.0% to $21.2 million in the fiscal year 2024, from
$25.5 million in the prior year
period. Revenue from e-Commerce area accounted for 14.8% and 16.9%
of total revenues in the fiscal year 2024 and 2023,
respectively.
- Revenue from automotive area increased by $75.7 thousand, or 0.5% to $14.25 million from $14.17
million in the prior year period. Revenue from automotive
area accounted for 10.0% and 9.4% of total revenues in the fiscal
year 2024 and 2023, respectively.
Revenues by Geography
- Revenue generated outside of mainland China increased by 37.9% to $22.3 million in the fiscal year 2024, from
$16.2 million in the prior year
period. The increase was due to strong performance of our
operations in Singapore, Hong Kong
SAR and the U.S., reflecting the Company's successful and
continuous implementation of its global expansion strategy.
Gross Profit
Gross profit decreased by $1.6 million, or 4.5%,
to $32.9 million in the fiscal year 2024, from $34.5
million in the prior year period. The decrease was primarily
attributed to a decline in total revenue.
Operating Expenses
Selling and marketing expenses increased by $1.3 million,
or 38.6%, to $4.6 million in the fiscal year 2024,
from $3.3 million in the prior year period. As a
percentage of total revenues, selling and marketing expenses
increased to 3.2% in the fiscal year 2024, compared to 2.2% in the
prior year period. The increase was primarily due to an increase in
sales staff to capture business growth opportunities.
Research and development expenses decreased by $1.1
million, or 14.2%, to $7.2 million in the fiscal year 2024,
from $8.3 million in the prior year period. As a
percentage of total revenues, research and development expenses
decreased to 5.0% in the fiscal year 2024, compared to 5.5% in the
prior year period. The decrease was primarily due to a strategic
realignment of our R&D department.
General and administrative expenses increased by $3.5
million, or 16.1%, to $25.1 million in the fiscal year 2024,
from $21.6 million in the prior year period. As a
percentage of total revenues, general and administrative expenses
increased to 17.6% in the fiscal year 2024, compared to 14.4% in
the prior year period. The increase was primarily due to the
establishment of our CDC and GTC, which supported our efforts to
capture the anticipated growth in demand for customized IT solution
services.
Operating (Loss) Income
Operating loss was $2.5
million, compared to an operating income of
$76.4 thousand in the same
period of the previous year. Operating margin was -1.8% in the
fiscal year 2024, compared to 0.1% in the prior year period.
Other Income and Expenses
Total other income, net of other expenses was $0.70 million
in the fiscal year 2024, compared to $0.69 million total other
income, net of other expenses in the prior year period.
Provision for Income Taxes
Provision for income taxes was $0.2
million in the fiscal year 2024, compared to a provision for
income taxes of $0.7 million in the same period of the
previous year.
Net (Loss) Income and EPS
Net loss was $1.8 million in the fiscal year 2024, compared
to a net income of $0.2 million in
the prior year period.
Non-GAAP net income[1] decreased by $3.7
million, or 73.7%, to $1.3 million in the fiscal year 2024,
from $5.0 million in the same period of the previous
year.
Net loss attributable to CLPS Incorporation's shareholders
was $2.3 million, or $0.09 basic and diluted losses
per share in the fiscal year 2024, compared to net income
attributable to CLPS Incorporation's shareholders of $0.2
million, or $0.01 basic and diluted earnings per share in
fiscal year 2023.
Non-GAAP net income attributable to CLPS Incorporation's
shareholders[2] was $0.8 million, or $0.03 basic and diluted earnings per share in the
fiscal year 2024, compared to non-GAAP net income attributable to
CLPS Incorporation's shareholders of $5.1 million, or
$0.22 basic and diluted earnings per
share in the fiscal year 2023.
Cash Flow
As of June 30, 2024, the Company had cash and cash
equivalents of $29.1 million compared to $22.2
million as of June 30, 2023.
Net cash provided by operating activities was $8.9
million for the twelve months ended June 30, 2024. Net
cash used in investing activities was $12.3 million. Net cash
provided by financing activities was approximately $10.2 million. The effect of exchange rate change
on cash was approximately negative $28.5 thousand. The Company
believes that its current cash position and cash flow from
operations are sufficient to meet its anticipated cash needs for at
least the next 12 months.
Financial Outlook
Undeterred by the short-term challenges, we remain confident
about our long-term business growth. For fiscal year 2025, the
Company expects, considering our financial numbers could be
affected by the floating exchange rate, and absent material
acquisitions or non-recurring transactions, total sales growth in
the range of approximately 12% to 17%, non-GAAP net income growth
in the range of approximately 15% to 20% compared to fiscal year
2024 financial results.
This forecast reflects the Company's current and preliminary
views, which are subject to change and are subject to risks and
uncertainties, including, but not limited to various risks and
uncertainties facing the Company's business and operations as
identified in its public filings.
Exchange Rate
The balance sheet amounts with the exception of equity as
of June 30, 2024, were translated at 7.2672
RMB to 1.00 USD compared to 7.2513
RMB to 1.00 USD as of June 30, 2023. The equity
accounts were stated at their historical rate. The average
translation rates applied to the income statements accounts for the
periods ended June 30, 2024 and 2023 were 7.2248
RMB to 1.00 USD and 6.9536
RMB to 1.00 USD, respectively. The change in the value of
the RMB relative to the U.S. dollar may affect our financial
results reported in the U.S. dollar terms without giving
effect to any underlying change in our business or results of
operation.
About CLPS Incorporation
Headquartered in Hong Kong,
CLPS Incorporation is a leading global information technology
("IT") consulting and solutions service provider, primarily focused
on serving global institutions in the banking, wealth management,
e-commerce, and automotive sectors. As an IT services provider for
a growing network of clients within the fintech and financial
services industry, CLPS has expanded its business beyond core IT
services, venturing into the loan, e-commerce, academic education,
and tourism sectors. Through its diversified offerings, CLPS is
committed to providing comprehensive services and solutions for its
clients. The Company maintains 20 delivery and/or research
& development centers to serve different customers in various
geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Xi'an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The remaining 10 global centers are
located in Hong Kong SAR, USA,
Japan, Singapore, Australia, Malaysia, India, Philippines, Canada, and UAE. For further information
regarding the Company, please
visit: https://ir.clpsglobal.com/, or follow CLPS
on Facebook, Instagram, LinkedIn,
X (formerly Twitter), and YouTube.
Forward-Looking Statements
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements with respect to the
Company's beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond the Company's control, and which
may cause the actual results, performance, capital, ownership or
achievements of the Company to be materially different from future
results, performance or achievements expressed or implied by such
forward-looking statements. All such statements attributable to us
are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties related to the Company's financial and operational
performance in the second half and full year of fiscal 2024, its
expectations of the Company's future performance, its preliminary
outlook and guidance offered in this presentation, as well as the
risks and uncertainties described in the Company's most recently
filed SEC reports and filings. Such reports are available
upon request from the Company, or from the Securities and
Exchange Commission, including through the SEC's Internet
website at http://www.sec.gov. We have no obligation and do
not undertake to update, revise or correct any of the
forward-looking statements after the date hereof, or after the
respective dates on which any such statements otherwise are
made.
Use of Non-GAAP Financial Measures
The consolidated financial information is prepared in conformity
with accounting principles generally accepted in the
United States of
America ("U.S. GAAP"), except that the consolidated
statement of changes in shareholders' equity, consolidated
statements of cash flows, and the detailed notes have not been
presented. The Company uses non-GAAP operating income (loss),
non-GAAP general and administrative expenses, non-GAAP operating
margin, non-GAAP net income (loss) attributable to CLPS
Incorporation's shareholders, and basic and diluted non-GAAP
earnings (losses) per share, which are non-GAAP financial measures.
Non-GAAP operating income (loss) is operating income (loss)
excluding share-based compensation expenses. Non-GAAP general and
administrative expenses is a non-GAAP financial measure, which is
defined as general and administrative expenses excluding
share-based compensation expenses. Non-GAAP operating margin is
non-GAAP operating income as a percentage of revenues. Non-GAAP net
income (loss) attributable to CLPS Incorporation's shareholders is
net income (loss) attributable to CLPS Incorporation's shareholders
excluding share-based compensation expenses. Basic and diluted
non-GAAP earnings (losses) per share is non-GAAP net income (loss)
attributable to common shareholders divided by weighted average
number of shares used in the calculation of basic and diluted net
income per share. The Company believes that separate analysis and
exclusion of the non-cash impact of share-based compensation
expenses clarity to the constituent parts of its performance. The
Company reviews these non-GAAP financial measures together with
GAAP financial measures to obtain a better understanding of its
operating performance. It uses the non-GAAP financial measure for
planning, forecasting and measuring results against the forecast.
The Company believes that non-GAAP financial measure is useful
supplemental information for investors and analysts to assess its
operating performance without the effect of non-cash share-based
compensation expenses, which have been and will continue to be
significant recurring expenses in its business. However, the use of
non-GAAP financial measures has material limitations as an
analytical tool. One of the limitations of using non-GAAP financial
measures is that they do not include all items that impact the
Company's net income for the period. In addition, because non-GAAP
financial measures are not measured in the same manner by all
companies, they may not be comparable to other similar titled
measures used by other companies. In light of the foregoing
limitations, you should not consider non-GAAP financial measure in
isolation from or as an alternative to the financial measure
prepared in accordance with U.S. GAAP.
The presentation of these non-GAAP financial measures is not
intended to be considered in isolation from, or as a substitute
for, the financial information prepared and presented in accordance
with U.S. GAAP. The Company encourages investors to carefully
consider its results under GAAP, as well as its supplemental
non-GAAP information and the reconciliation between these
presentations, to more fully understand its business. For more
information on these non-GAAP financial measures, please see the
table captioned "Reconciliations of Non-GAAP and GAAP Results" near
the end of this release.
Contact:
CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com
1
Non-GAAP net loss/income is a non-GAAP financial measure, which is
defined as net loss/income excluding share-based compensation
expenses. Please refer to the section titled "Reconciliation of
Non-GAAP and GAAP Results" for details.
|
2
Non-GAAP net loss/income attributable to CLPS Incorporation's
shareholders is a non-GAAP financial measure, which is defined as
net loss/income attributable to CLPS Incorporation's shareholders
excluding share-based compensation expenses. Please refer to the
section titled "Reconciliation of Non-GAAP and GAAP Results" for
details.
|
CLPS INCORPORATION
|
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
(Amounts in U.S.
dollars ("$"), except for number of shares)
|
|
|
|
|
|
As of
|
|
|
|
June
30,
2024
(Audited)
|
|
|
December 31,
2023
(Unaudited)
|
|
ASSETS
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
29,116,431
|
|
|
|
35,108,870
|
|
Restricted
cash
|
|
|
24,081
|
|
|
|
89,539
|
|
Short-term
investments
|
|
|
2,100,000
|
|
|
|
-
|
|
Accounts receivable,
net
|
|
|
38,779,209
|
|
|
|
39,092,817
|
|
Prepayments, deposits
and other assets, net
|
|
|
4,497,578
|
|
|
|
3,279,971
|
|
Amounts due from
related parties
|
|
|
3,559,109
|
|
|
|
465,582
|
|
Total Current
Assets
|
|
$
|
78,076,408
|
|
|
$
|
78,036,779
|
|
|
|
|
|
|
|
|
|
|
Non-Current
assets:
|
|
|
|
|
|
|
|
|
Property and equipment,
net
|
|
|
21,168,524
|
|
|
|
21,404,190
|
|
Intangible assets,
net
|
|
|
2,254,372
|
|
|
|
689,783
|
|
Operating lease
right-of-use assets
|
|
|
2,776,858
|
|
|
|
3,006,854
|
|
Goodwill
|
|
|
1,473,899
|
|
|
|
-
|
|
Long-term
investments
|
|
|
613,807
|
|
|
|
612,843
|
|
Prepayments, deposits
and other assets, net
|
|
|
594,603
|
|
|
|
1,614,426
|
|
Amounts due from
related parties
|
|
|
2,374,298
|
|
|
|
422,541
|
|
Deferred tax assets,
net
|
|
|
697,047
|
|
|
|
115,975
|
|
Total
Assets
|
|
$
|
110,029,816
|
|
|
$
|
105,903,391
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
Bank loans
|
|
$
|
23,232,856
|
|
|
$
|
15,699,530
|
|
Accounts
payable
|
|
|
949,137
|
|
|
|
925,425
|
|
Accrued expenses and
other current liabilities
|
|
|
799,495
|
|
|
|
379,474
|
|
Tax payables
|
|
|
2,351,615
|
|
|
|
1,860,960
|
|
Contract
liabilities
|
|
|
1,139,001
|
|
|
|
1,189,953
|
|
Salaries and benefits
payable
|
|
|
9,941,541
|
|
|
|
13,228,752
|
|
Operating lease
liabilities
|
|
|
1,361,928
|
|
|
|
1,230,907
|
|
Amount due to related
parties
|
|
|
20,230
|
|
|
|
25,344
|
|
Total Current
Liabilities
|
|
$
|
39,795,803
|
|
|
$
|
34,540,345
|
|
Non-Current
liabilities:
|
|
|
|
|
|
|
|
|
Operating lease
liabilities
|
|
|
1,638,243
|
|
|
|
1,906,298
|
|
Deferred tax
liabilities
|
|
|
378,344
|
|
|
|
111,057
|
|
Unrecognized tax
benefit
|
|
|
3,413,850
|
|
|
|
2,843,667
|
|
Other non-current
liabilities
|
|
|
883,963
|
|
|
|
904,793
|
|
Total
Liabilities
|
|
$
|
46,110,203
|
|
|
$
|
40,306,160
|
|
Commitments and
Contingencies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
Equity
|
|
|
|
|
|
|
|
|
Common shares, $0.0001
par value, 100,000,000 shares authorized;
25,640,056 shares issued and outstanding as of June 30,
2024; 25,616,056 shares issued and outstanding as of
December 31,
2023
|
|
|
2,564
|
|
|
|
2,562
|
|
Additional paid-in
capital
|
|
|
61,351,200
|
|
|
|
60,914,080
|
|
Statutory
reserves
|
|
|
5,553,104
|
|
|
|
5,517,142
|
|
(Accumulated deficit)
retained earnings
|
|
|
(51,728)
|
|
|
|
826,631
|
|
Accumulated other
comprehensive losses
|
|
|
(4,345,902)
|
|
|
|
(3,116,935)
|
|
Total CLPS
Incorporation's Shareholders' Equity
|
|
|
62,509,238
|
|
|
|
64,143,480
|
|
|
|
|
|
|
|
|
|
|
Noncontrolling
Interests
|
|
|
1,410,375
|
|
|
|
1,453,751
|
|
|
|
|
|
|
|
|
|
|
Total Shareholders'
Equity
|
|
|
63,919,613
|
|
|
|
65,597,231
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities
and Shareholders' Equity
|
|
$
|
110,029,816
|
|
|
$
|
105,903,391
|
|
CLPS INCORPORATION
|
|
UNAUDITED
CONSOLIDATED STATEMENTS OF INCOME AND
COMPREHENSIVE LOSS
|
|
(Amounts in U.S.
dollars ("$"), except for number of shares)
|
|
|
|
|
|
For the six
months ended
June
30,
|
|
|
|
2024
|
|
|
2023
|
|
|
|
|
|
|
|
|
Revenue
|
|
$
|
71,038,525
|
|
|
$
|
73,595,728
|
|
Cost of revenue (note
1)
|
|
|
(53,841,552)
|
|
|
|
(57,574,881)
|
|
Gross
profit
|
|
|
17,196,973
|
|
|
|
16,020,847
|
|
|
|
|
|
|
|
|
|
|
Operating income
(expenses):
|
|
|
|
|
|
|
|
|
Selling and marketing
expenses (note 1)
|
|
|
(1,849,118)
|
|
|
|
(616,480)
|
|
Research and
development expenses
|
|
|
(3,961,031)
|
|
|
|
(3,977,785)
|
|
General and
administrative expenses (note 1)
|
|
|
(13,935,384)
|
|
|
|
(10,946,729)
|
|
Impairment of
goodwill
|
|
|
-
|
|
|
|
(2,382,538)
|
|
Subsidies and other
operating income
|
|
|
926,159
|
|
|
|
635,368
|
|
Total operating
expenses
|
|
|
(18,819,374)
|
|
|
|
(17,288,164)
|
|
Losses from
operations
|
|
|
(1,622,401)
|
|
|
|
(1,267,317)
|
|
Other
income
|
|
|
943,448
|
|
|
|
723,695
|
|
Other
expenses
|
|
|
(358,372)
|
|
|
|
(246,662)
|
|
Loss before income tax and share of income in equity
investees
|
|
|
(1,037,325)
|
|
|
|
(790,284)
|
|
(Benefit) provision for
income taxes
|
|
|
(176,838)
|
|
|
|
489,148
|
|
Loss before share of
income in equity investees
|
|
|
(860,487)
|
|
|
|
(1,279,432)
|
|
Share of income in
equity investees, net of tax
|
|
|
6,632
|
|
|
|
47,686
|
|
Net
loss
|
|
|
(853,855)
|
|
|
|
(1,231,746)
|
|
Less: Net loss
attributable to noncontrolling interests
|
|
|
(11,425)
|
|
|
|
(156,845)
|
|
Net loss
attributable to CLPS Incorporation's
shareholders
|
|
$
|
(842,430)
|
|
|
$
|
(1,074,901)
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive
loss
|
|
|
|
|
|
|
|
|
Foreign currency
translation loss
|
|
$
|
(1,260,918)
|
|
|
$
|
(2,785,938)
|
|
Less: Foreign currency
translation loss attributable
to noncontrolling interests
|
|
|
(31,951)
|
|
|
|
(57,097)
|
|
Other comprehensive
loss attributable to CLPS
Incorporation's shareholders
|
|
$
|
(1,228,967)
|
|
|
$
|
(2,728,841)
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
loss attributable to
|
|
|
|
|
|
|
|
|
CLPS
Incorporation's shareholders
|
|
$
|
(2,071,397)
|
|
|
$
|
(3,803,742)
|
|
Comprehensive loss
attributable to noncontrolling
interests
|
|
|
(43,376)
|
|
|
|
(213,942)
|
|
Comprehensive
loss
|
|
$
|
(2,114,773)
|
|
|
$
|
(4,017,684)
|
|
|
|
|
|
|
|
|
|
|
Basic losses per common
share
|
|
$
|
(0.03)
|
|
|
$
|
(0.05)
|
|
Weighted average number
of share outstanding – basic
|
|
|
25,619,294
|
|
|
|
23,629,200
|
|
Diluted losses per
common share
|
|
$
|
(0.03)
|
|
|
$
|
(0.05)
|
|
Weighted average number
of share outstanding – diluted
|
|
|
25,619,294
|
|
|
|
23,629,200
|
|
Note:
|
|
|
|
|
|
|
|
|
(1) Includes
share-based compensation expenses as
follows:
Cost of
revenues
|
|
|
5,658
|
|
|
|
5,141
|
|
Selling and marketing
expenses
|
|
|
82,615
|
|
|
|
68,969
|
|
General and
administrative expenses
|
|
|
348,850
|
|
|
|
461,114
|
|
CLPS
INCORPORATION
|
RECONCILIATION OF
NON-GAAP AND GAAP RESULTS- UNAUDITED
|
(Amounts in U.S.
dollars ("$"), except for number of shares)
|
|
|
|
|
|
For the six
months ended
|
June
30,
|
|
|
|
|
2024
|
|
|
|
2023
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenue
|
|
|
$
|
(53,841,552)
|
|
|
$
|
(57,574,881)
|
Less: share-based
compensation expenses
|
|
|
|
(5,658)
|
|
|
|
(5,141)
|
Non-GAAP cost of
revenue
|
|
|
$
|
(53,835,894)
|
|
|
$
|
(57,569,740)
|
|
|
|
|
|
|
|
|
|
Selling and marketing
expenses
|
|
|
$
|
(1,849,118)
|
|
|
$
|
(616,480)
|
Less: share-based
compensation expenses
|
|
|
|
(82,615)
|
|
|
|
(68,969)
|
Non-GAAP selling and
marketing expenses
|
|
|
$
|
(1,766,503)
|
|
|
$
|
(547,511)
|
|
|
|
|
|
|
|
|
|
General and
administrative expenses
|
|
|
$
|
(13,935,384)
|
|
|
$
|
(10,946,729)
|
Less: share-based
compensation expenses
|
|
|
|
(348,850)
|
|
|
|
(461,114)
|
Non-GAAP general and
administrative
expenses
|
|
|
$
|
(13,586,534)
|
|
|
$
|
(10,485,615)
|
|
|
|
|
|
|
|
|
|
Operating
losses
|
|
|
$
|
(1,622,401)
|
|
|
$
|
(1,267,317)
|
Add: share-based
compensation expenses
|
|
|
|
437,123
|
|
|
|
535,224
|
Add: Impairment of
goodwill
|
|
|
|
-
|
|
|
|
2,382,538
|
Non-GAAP operating
(loss) income
|
|
|
$
|
(1,185,278)
|
|
|
$
|
1,650,445
|
|
|
|
|
|
|
|
|
|
Operating
margin
|
|
|
|
(2.3 %)
|
|
|
|
(1.7 %)
|
Add: share-based
compensation expenses
|
|
|
|
0.6 %
|
|
|
|
0.7 %
|
Add: Impairment of
goodwill
|
|
|
|
-
|
|
|
|
3.2 %
|
Non-GAAP operating
margin
|
|
|
|
(1.7 %)
|
|
|
|
2.2 %
|
|
|
|
|
|
|
|
|
|
Net losses
|
|
|
$
|
(853,855)
|
|
|
$
|
(1,231,746)
|
Add: share-based
compensation expenses
|
|
|
|
437,123
|
|
|
|
535,224
|
Add: Impairment of
goodwill
|
|
|
|
-
|
|
|
|
2,382,538
|
Non-GAAP net (loss)
income
|
|
|
$
|
(416,732)
|
|
|
$
|
1,686,016
|
|
|
|
|
|
|
|
|
|
Net losses attributable
to CLPS Incorporation's
shareholders
|
|
|
$
|
(842,430)
|
|
|
$
|
(1,074,901)
|
Add: share-based
compensation expenses
|
|
|
|
437,123
|
|
|
|
535,224
|
Add: Impairment of
goodwill
|
|
|
|
-
|
|
|
|
2,382,538
|
Non-GAAP net (loss)
income attributable to
CLPS Incorporation's shareholders
|
|
|
|
(405,307)
|
|
|
|
1,842,861
|
$
|
$
|
|
|
|
|
|
|
|
|
|
Weighted average number
of share
outstanding used in computing GAAP and non-
GAAP basic earnings
|
|
|
|
25,619,294
|
|
|
|
23,629,200
|
GAAP basic losses per
common share
|
|
|
$
|
(0.03)
|
|
|
$
|
(0.05)
|
Add: share-based
compensation expenses
|
|
|
|
0.01
|
|
|
|
0.13
|
Non-GAAP basic
(losses) earnings per
common share
|
|
|
$
|
(0.02)
|
|
|
$
|
0.08
|
|
|
|
|
|
|
|
|
|
Weighted average number
of share
outstanding used in computing GAAP diluted
earnings
|
|
|
|
25,619,294
|
|
|
|
23,629,200
|
Weighted average number
of share
outstanding used in computing non-GAAP
diluted earnings
|
|
|
|
25,619,294
|
|
|
|
23,629,200
|
|
|
|
|
|
|
|
|
|
GAAP diluted losses per
common share
|
|
|
$
|
(0.03)
|
|
|
$
|
(0.05)
|
Add: share-based
compensation expenses
|
|
|
|
0.01
|
|
|
|
0.13
|
Non-GAAP diluted
(losses) earnings per
common share
|
|
|
$
|
(0.02)
|
|
|
$
|
0.08
|
CLPS
INCORPORATION
|
audited CONSOLIDATED
BALANCE SHEETS
|
(Amounts in U.S.
dollars ("$"), except for number of shares)
|
|
|
|
|
|
|
|
As of June
30,
|
|
2024
|
|
2023
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
$
|
29,116,431
|
|
$
|
22,214,029
|
Restricted
cash
|
|
24,081
|
|
|
87,604
|
Short-term
investments
|
|
2,100,000
|
|
|
-
|
Accounts receivable,
net
|
|
38,779,209
|
|
|
48,515,467
|
Prepayments, deposits
and other assets, net
|
|
4,497,578
|
|
|
1,665,736
|
Amounts due from
related parties
|
|
3,559,109
|
|
|
391,271
|
Total Current
Assets
|
|
78,076,408
|
|
|
72,874,107
|
|
|
|
|
|
|
Non-current
assets:
|
|
|
|
|
|
Property and equipment,
net
|
|
21,168,524
|
|
|
20,112,305
|
Intangible assets,
net
|
|
2,254,372
|
|
|
726,175
|
Goodwill
|
|
1,473,899
|
|
|
-
|
Operating lease
right-of-use assets
|
|
2,776,858
|
|
|
815,324
|
Long-term
investments
|
|
613,807
|
|
|
456,598
|
Prepayments, deposits
and other assets, net
|
|
594,603
|
|
|
252,656
|
Amounts due from
related parties
|
|
2,374,298
|
|
|
-
|
Deferred tax assets,
net
|
|
697,047
|
|
|
81,899
|
Total
Assets
|
$
|
110,029,816
|
|
$
|
95,319,064
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Bank loans
|
$
|
23,232,856
|
|
$
|
10,554,617
|
Accounts
payable
|
|
949,137
|
|
|
690,035
|
Accrued expenses and
other current liabilities
|
|
799,495
|
|
|
324,021
|
Tax
payables
|
|
2,351,615
|
|
|
2,503,375
|
Contract
liabilities
|
|
1,139,001
|
|
|
918,470
|
Salaries and benefits
payable
|
|
9,941,541
|
|
|
10,586,239
|
Operating lease
liabilities
|
|
1,361,928
|
|
|
712,302
|
Amounts due to related
party
|
|
20,230
|
|
|
24,889
|
Total Current
Liabilities
|
|
39,795,803
|
|
|
26,313,948
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
Operating lease
liabilities
|
|
1,638,243
|
|
|
104,114
|
Unrecognized tax
benefits
|
|
3,413,850
|
|
|
2,320,918
|
Deferred tax
liabilities
|
|
378,344
|
|
|
185,382
|
Other non-current
liabilities
|
|
883,963
|
|
|
885,901
|
Total
Liabilities
|
|
46,110,203
|
|
|
29,810,263
|
Commitments and
Contingencies
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
Equity
|
|
|
|
|
|
Common shares, $0.0001 par value, 100,000,000 shares
authorized; 25,640,056 shares issued and
outstanding as
of June 30, 2024; 23,650,122 shares issued and
outstanding as
of June 30, 2023
|
|
2,564
|
|
|
2,365
|
Additional paid-in
capital
|
|
61,351,200
|
|
|
58,183,383
|
Statutory
reserves
|
|
5,553,104
|
|
|
5,356,828
|
Retained
earnings
|
|
(51,728)
|
|
|
5,029,021
|
Accumulated other
comprehensive losses
|
|
(4,345,902)
|
|
|
(3,990,594)
|
|
|
|
|
|
|
Total CLPS
Incorporation's Shareholders' Equity
|
|
62,509,238
|
|
|
64,581,003
|
|
|
|
|
|
|
Noncontrolling
Interests
|
|
1,410,375
|
|
|
927,798
|
|
|
|
|
|
|
Total Shareholders'
Equity
|
|
63,919,613
|
|
|
65,508,801
|
|
|
|
|
|
|
Total Liabilities
and Shareholders' Equity
|
$
|
110,029,816
|
|
$
|
95,319,064
|
CLPS INCORPORATION
|
|
AUDITED CONSOLIDATED
STATEMENTS OF INCOME AND
COMPREHENSIVE LOSS
|
|
(Amounts in U.S.
dollars ("$"), except for number of shares)
|
|
|
|
|
|
For the years
ended
June
30,
|
|
|
|
2024
|
|
|
2023
|
|
|
|
|
|
|
|
|
Revenue from third
parties
|
|
$
|
142,725,554
|
|
|
$
|
150,298,963
|
|
Revenue from related
party
|
|
|
87,172
|
|
|
|
57,576
|
|
Cost of revenue from
third parties (note 1)
|
|
|
(109,795,857)
|
|
|
|
(115,827,597)
|
|
Cost of revenue from
related party
|
|
|
(69,738)
|
|
|
|
(47,212)
|
|
Gross
profit
|
|
|
32,947,131
|
|
|
|
34,481,730
|
|
|
|
|
|
|
|
|
|
|
Operating income
(expenses):
|
|
|
|
|
|
|
|
|
Selling and marketing
expenses (note 1)
|
|
|
(4,573,344)
|
|
|
|
(3,300,555)
|
|
Research and
development expenses
|
|
|
(7,155,949)
|
|
|
|
(8,336,999)
|
|
General and
administrative expenses (note 1)
|
|
|
(25,120,010)
|
|
|
|
(21,641,317)
|
|
Impairment of
goodwill
|
|
|
-
|
|
|
|
(2,382,538)
|
|
Subsidies and other
operating income
|
|
|
1,363,757
|
|
|
|
1,256,070
|
|
Total operating
expenses
|
|
|
(35,485,546)
|
|
|
|
(34,405,339)
|
|
(Loss) income from
operations
|
|
|
(2,538,415)
|
|
|
|
76,391
|
|
Other income
|
|
|
1,251,465
|
|
|
|
1,123,612
|
|
Other
expenses
|
|
|
(556,415)
|
|
|
|
(430,357)
|
|
(Loss) income before
income tax and share of
income in equity investees
|
|
|
(1,843,365)
|
|
|
|
769,646
|
|
Provision for income
taxes
|
|
|
160,725
|
|
|
|
674,344
|
|
(Loss) income before
share of income in equity
investees
|
|
|
(2,004,090)
|
|
|
|
95,302
|
|
Share of income in
equity investees, net of tax
|
|
|
156,780
|
|
|
|
70,263
|
|
Net (loss)
income
|
|
|
(1,847,310)
|
|
|
|
165,565
|
|
Less: Net income (loss)
attributable to noncontrolling
interests
|
|
|
482,655
|
|
|
|
(26,964)
|
|
Net (loss)
income attributable to CLPS
Incorporation's shareholders
|
|
$
|
(2,329,965)
|
|
|
$
|
192,529
|
|
|
|
|
|
|
|
|
|
|
Other
comprehensive loss
|
|
|
|
|
|
|
|
|
Foreign currency
translation loss
|
|
$
|
(355,386)
|
|
|
$
|
(3,532,507)
|
|
Less: Foreign currency
translation loss attributable
to noncontrolling interests
|
|
|
(78)
|
|
|
|
(92,161)
|
|
Other comprehensive
loss attributable to CLPS
Incorporation's shareholders
|
|
$
|
(355,308)
|
|
|
$
|
(3,440,346)
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
loss attributable to
|
|
|
|
|
|
|
|
|
CLPS
Incorporation's shareholders
|
|
$
|
(2,685,273)
|
|
|
$
|
(3,247,817)
|
|
Comprehensive income
(loss) attributable to
noncontrolling interests
|
|
|
482,577
|
|
|
|
(119,125)
|
|
Comprehensive
loss
|
|
$
|
(2,202,696)
|
|
|
$
|
(3,366,942)
|
|
|
|
|
|
|
|
|
|
|
Basic (losses) earnings
per common share
|
|
$
|
(0.09)
|
|
|
$
|
0.01
|
|
Weighted average number
of share outstanding –
basic
|
|
|
25,213,012
|
|
|
|
23,153,976
|
|
Diluted (losses)
earnings per common share
|
|
$
|
(0.09)
|
|
|
$
|
0.01
|
|
Weighted average number
of share outstanding –
diluted
|
|
|
25,213,012
|
|
|
|
23,153,976
|
|
Note:
|
|
|
|
|
|
|
|
|
(1)
Includes share-based compensation expenses
as follows:
Cost of
revenues
|
|
|
11,467
|
|
|
|
16,212
|
|
Selling and marketing
expenses
|
|
|
275,562
|
|
|
|
129,060
|
|
General and
administrative expenses
|
|
|
2,880,987
|
|
|
|
2,333,024
|
|
CLPS
INCORPORATION
|
RECONCILIATION OF
NON-GAAP AND GAAP RESULTS- UNAUDITED
|
(Amounts in U.S.
dollars ("$"), except for number of shares)
|
|
|
|
|
|
|
|
|
|
For the years
ended
|
June
30,
|
|
|
|
|
2024
|
|
|
|
2023
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenue
|
|
|
$
|
(109,865,595)
|
|
|
$
|
(115,874,809)
|
Less: share-based
compensation expenses
|
|
|
|
(11,467)
|
|
|
|
(16,212)
|
Non-GAAP cost of
revenue
|
|
|
$
|
(109,854,128)
|
|
|
$
|
(115,858,597)
|
|
|
|
|
|
|
|
|
|
Selling and marketing
expenses
|
|
|
$
|
(4,573,344)
|
|
|
$
|
(3,300,555)
|
Less: share-based
compensation expenses
|
|
|
|
(275,562)
|
|
|
|
(129,060)
|
Non-GAAP selling and
marketing expenses
|
|
|
$
|
(4,297,782)
|
|
|
$
|
(3,171,495)
|
|
|
|
|
|
|
|
|
|
General and
administrative expenses
|
|
|
$
|
(25,120,010)
|
|
|
$
|
(21,641,317)
|
Less: share-based
compensation expenses
|
|
|
|
(2,880,987)
|
|
|
|
(2,333,024)
|
Non-GAAP general and
administrative
expenses
|
|
|
$
|
(22,239,023)
|
|
|
$
|
(19,308,293)
|
|
|
|
|
|
|
|
|
|
Operating (loss)
income
|
|
|
$
|
(2,538,415)
|
|
|
$
|
76,391
|
Add: share-based
compensation expenses
|
|
|
|
3,168,016
|
|
|
|
2,478,296
|
Add: Impairment of
goodwill
|
|
|
|
-
|
|
|
|
2,382,538
|
Non-GAAP operating
income
|
|
|
$
|
629,601
|
|
|
$
|
4,937,225
|
|
|
|
|
|
|
|
|
|
Operating
margin
|
|
|
|
(1.8 %)
|
|
|
|
0.1 %
|
Add: share-based
compensation expenses and
impairment of goodwill
|
|
|
|
2.2 %
|
|
|
|
3.2 %
|
Non-GAAP operating
margin
|
|
|
|
0.4 %
|
|
|
|
3.3 %
|
|
|
|
|
|
|
|
|
|
Net (loss)
income
|
|
|
$
|
(1,847,310)
|
|
|
$
|
165,565
|
Add: share-based
compensation expenses
|
|
|
|
3,168,016
|
|
|
|
2,478,296
|
Add: Impairment of
goodwill
|
|
|
|
-
|
|
|
|
2,382,538
|
Non-GAAP net
income
|
|
|
$
|
1,320,706
|
|
|
$
|
5,026,399
|
|
|
|
|
|
|
|
|
|
Net (loss) income
attributable to CLPS
Incorporation's shareholders
|
|
|
$
|
(2,329,965)
|
|
|
$
|
192,529
|
Add: share-based
compensation expenses
|
|
|
|
3,168,016
|
|
|
|
2,478,296
|
Add: Impairment of
goodwill
|
|
|
|
-
|
|
|
|
2,382,538
|
Non-GAAP net income
attributable to CLPS
Incorporation's shareholders
|
|
|
$
|
838,051
|
|
|
$
|
5,053,363
|
|
|
|
|
|
|
|
|
|
Weighted average number
of share outstanding
used in computing GAAP and non-GAAP basic
(losses) earnings
|
|
|
|
25,213,012
|
|
|
|
23,153,976
|
GAAP basic (losses)
earnings per common share
|
|
|
$
|
(0.09)
|
|
|
$
|
0.01
|
Add: share-based
compensation expenses and
impairment of goodwill
|
|
|
|
0.12
|
|
|
|
0.21
|
Non-GAAP basic
earnings per common share
|
|
|
$
|
0.03
|
|
|
$
|
0.22
|
|
|
|
|
|
|
|
|
|
Weighted average number
of share outstanding
used in computing GAAP and non-GAAP diluted
(losses) earnings
|
|
|
|
25,213,012
|
|
|
|
23,153,976
|
|
|
|
|
|
|
|
|
|
GAAP diluted (losses)
earnings per common share
|
|
|
$
|
(0.09)
|
|
|
$
|
0.01
|
Add: share-based
compensation expenses and
impairment of goodwill
|
|
|
|
0.12
|
|
|
|
0.21
|
Non-GAAP diluted
earnings per common share
|
|
|
$
|
0.03
|
|
|
$
|
0.22
|
|
|
|
|
|
|
|
|
|
View original
content:https://www.prnewswire.com/news-releases/clps-incorporation-reports-financial-results-for-the-second-half-and-full-year-of-fiscal-2024-302280404.html
SOURCE CLPS