- Full Truck Alliance Co Ltd (NYSE:YMM) reported fourth-quarter FY21 net revenue growth of 68.1% year-on-year to $224.3 million, beating the consensus of $203.5 million.
- Growth Drivers: Revenues from freight matching services grew 85.7% Y/Y to $192.9 million due to increased revenues from freight brokerage services and growth in transaction commissions.
- The gross transaction value (GTV) rose 22.1% Y/Y to $10.9 billion, and the fulfilled orders increased 41.6% Y/Y to 34.8 million.
- The average shipper MAUs grew 20.6% Y/Y to 1.57 million.
- Non-GAAP net income per ADS was $0.04.
- Full Truck Alliance held $4.1 billion in cash and equivalents and generated $68.1 million in operating cash flow.
- Simon Cai, CFO, added, "Our robust results in the fourth quarter demonstrate the resilience of our platform...Our profitability continued to improve steadily, thanks to the consistent enhancement of our monetization efforts and the streamlining of our operational efficiencies."
- Outlook: Full Truck Alliance sees Q1 FY22 net revenue of RMB1.04 billion - RMB1.09 billion, implying a 19.8%-25.3% Y/Y growth.
- Price Action: YMM shares closed higher by 0.55% at $9.22 on Monday.
