Daily Stock Update: June 20, 2023

Welcome back to my daily stock update! Today, we have exciting news from five companies that I have invested in. From LiveOne’s expected surge in premium memberships to NIO Inc.’s impressive financial report, let’s dive into the latest updates

LiveOne’s Partnership With Tesla Fuels Explosive Automotive Growth

LiveOne (NASDAQ: LVO), the creator-first music, entertainment, and technology platform, has announced explosive growth in its automobile and podcasting divisions, thanks to its nine-year partnership with Tesla. The company has added 350,000 paid members since January 1st, expanding distribution of PodcastOne from 1 million to over 1.4 million automobiles. LiveOne’s total paid and ad-supported members have reached 3.1 million, including over 2.2 million paid members. LiveOne’s CEO and Chairman, Robert Ellin, stated, “We are proud to continue our 9-year partnership with Tesla to deliver a streaming music service to Tesla owners consisting of a library of 30 million songs, 600 curated radio stations, and over 300 podcasts/vodcasts.”

As a long-term investor in LVO, this news is very encouraging. The partnership with a leading auto company has catapulted the number of subscribers. It not only highlights the company’s commitment to creating a premium experience for its fans but also broadens the reach of PodcastOne. I see ample growth opportunities for the company as it expands its podcasting operations and adds more subscribers. Therefore, I recommend buying the stock. LiveOne’s continued growth in its paid and ad-supported members and its strategic partnership with Tesla are strong indicators of future success.

Nano Dimension to Release Q1 2023 Financial Results

Nano Dimension Ltd. is a leading supplier of Additively Manufactured Electronics (“AME”) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (“AM”) 3D printers. The company announced today that it will release its financial results for the first quarter of 2023 before the Nasdaq market opens on Thursday, June 29th, 2023.

Nano Dimension’s CEO Yoav Stern, CFO Yael Sandler, and VP Corporate Development Julien Lederman will host a conference call to discuss the financial results at 9:00 a.m. ET on June 29th, 2023. Participants can register for the conference through the following link: https://dpregister.com/sreg/10179970/f9b871241c. A replay will be available after the end of the conference call on Nano Dimension’s website.

The company also announced its plan to hold its 2023 Annual Meeting of Stockholders on the first week of September 2023. The final date will be determined soon and will be published together with establishing the record date for determining stockholders entitled to receive notice of and vote at the Annual Meeting, which will take place in-person at the Company’s offices located at 2 Ilan Ramon, Ness Ziona 7403635.

My personal thoughts on Nano Dimension are positive, and I strongly recommend buying the stock. The company has been making significant progress in the 3D printing industry, specifically in Additively Manufactured Electronics (“AME”), and has a strong management team that is focused on innovation and growth. Additionally, the company’s dedication to research and development continues to make it a leader in the industry.

In summary, Nano Dimension Ltd. will release its Q1 2023 financial results on June 29th, 2023, accompanied by a conference call discussing the results. The date of the 2023 Annual Meeting of Stockholders will be determined soon and will be held in-person at the Company’s offices. I strongly recommend buying the stock as I believe in the company’s potential for growth and innovation.

Aurora Mobile Limited Reports Q1 2023 Financial Results

Aurora Mobile Limited (NASDAQ: JG), a leading provider of customer engagement and marketing technology services in China, announced its unaudited financial results for the first quarter ended March 31, 2023. Despite a 23% YoY decrease in revenues, the company managed to minimize its losses due to stringent cost management during the challenging macro environment. Their revenues were RMB65.4 million (US$9.5 million), and adjusted net loss (non-GAAP) was RMB11.5 million (US$1.7 million). Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, is positive about the upcoming quarter and says they have witnessed good momentum in revenue growth, especially from Developer Services.

As an investor, it’s always a good sign when a company is able to adjust its cost structure to minimize losses, especially during challenging times. However, the decrease in revenues calls for a cautious approach. While Aurora Mobile seems to be recovering well, their performance in the upcoming quarter will be critical to watch. I recommend holding the stock for now and keep an eye on how they perform in the next quarter. If they continue to show positive momentum, it might be a good opportunity to buy the stock. However, if their performance deteriorates, it is better to sell the stock.

17EdTech Announces Q1 2023 Financial Results

17 Education & Technology Group Inc. (NASDAQ: YQ) released its unaudited financial results for the first quarter of 2023, revealing a year-over-year decrease of 96% in net revenues, which were RMB9.3 million ($1.4 million) versus RMB233.4 million in Q1 2022. Gross margin came in at 24.4%, down from 60.7% in Q1 2022. The net loss for the quarter was RMB92.5 million ($13.5 million), a significant increase from the RMB24.8 million loss reported in Q1 2022. The adjusted net loss (non-GAAP) was RMB64.0 million ($9.3 million), compared with an adjusted net income of RMB9.9 million in the same period last year.

According to Andy Liu, the Founder, Chairman, and CEO of the Company, the COVID-19 outbreak in China during Q4 2022 caused delays in the bidding and delivery processes of major projects, which negatively impacted financial performance in the last two quarters. However, he remained optimistic, citing encouraging signs of progress in the company’s in-school SaaS business. Year-to-date, 17EdTech’s teaching and learning SaaS business scored multiple significant projects across China, including the RMB116 million Shanghai Minhang District smart-pen and intelligent homework project and the RMB20 million Beijing Xicheng District cloud classroom evaluation system project.

Although the losses are significant, I am optimistic about 17EdTech’s future based on their competitive wins and progress in their SaaS business. While investors should always be cautious when it comes to companies with declining revenues and mounting losses, I believe 17EdTech’s innovative approach and the potential recovery in the education sector post-COVID-19 outbreak could bode well for the company in the long term. In my opinion, I would recommend holding the stock for now and keeping a careful eye on their next quarterly report.

NIO Inc. Announces Q1 2023 Financial Results: Revenues Up, Deliveries Down

NIO Inc., the pioneer and leading company in the premium smart electric vehicle market, announced its unaudited financial results for Q1 2023. The company experienced mixed results across its operating and financial highlights.

Vehicle deliveries for the quarter came in at 31,041 units, an increase of 20.5% from the same period last year. However, this represents a decrease of 22.5% from Q4 2022. Vehicle sales reached RMB9,224.5 million (US$1,343.2 million) in the first quarter of 2023. This is down 0.2% from the same period last year and down 37.5% from Q4 of 2022. Vehicle margin for the quarter was just 5.1%, compared with 18.1% for the same period in 2022 and 6.8% for Q4 2022.

Total revenues for the quarter reached RMB10,676.5 million (US$1,554.6 million), up 7.7% year-over-year, but down 33.5% from the previous quarter. Although the company saw an increase in revenues, gross profit dropped significantly to RMB162.3 million (US$23.6 million) compared to the same period last year, representing a decrease of 88.8%. Gross margin for the quarter was 1.5%, compared to 14.6% for Q1 2022 and 3.9% for Q4 2022.

Loss from operations for Q1 2023 was RMB5,111.8 million (US$744.3 million) which indicates an increase of 133.6% from the same period last year.

My personal thoughts about NIO is that the company has potential for growth given their strong delivery numbers, but their financials still show they’re struggling to turn a profit. The drop in vehicle margin and gross profit is a cause for concern, but with the increase in revenues and deliveries, there is still potential for this to improve in the future.

However, given the mixed results, I would recommend holding off on buying NIO at this time until there is more stability in their financial reports. Those who already own the stock could consider holding onto it for now, but should keep an eye on the company’s financials and consider selling if we see more negative results in the coming months.

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