Dingdong Clocks 78% Growth In Q2 Sales

Dingdong (Cayman Ltd) DDL reported second-quarter FY21 sales growth of 77.9% year-on-year, to RMB4.6 billion ($719.6 million).
The gross merchandise value for the quarter increased 80.8% Y/Y to RMB5.4 billion ($833.0 million).
The number of average monthly transacting users climbed 39.1% Y/Y to 8.4 million.
Product revenues rose 78.4% Y/Y, and Service revenues increased 40.4%.
The operating loss widened to RMB(1.9) billion or $(300.1) million.
The company held RMB7.3 billion ($1.13 million) in cash and equivalents as of June 30, 2021.
Non-GAAP net loss per share was RMB(30.05) or $(4.65), compared to RMB(12.79) last year.
"For the third quarter, we expect to see a 100% year-over-year increase in total revenues, and improving gross margin, and a narrowing non-GAAP net loss margin," said Chief Strategy Officer Le Yu.
Price Action: DDL shares are trading higher by 3.14% at $22.03 on the last check Monday.