Original title: BOSS directly hired to release the second quarter financial report: revenue of 1.168 billion yuan R&D expenses increased to 250 million yuan
[TechWeb]On August 27th, BOSS directly released an unaudited second quarter 2021 financial report, and this is also the first financial report released by BOSS after it went public. Data show that in the second quarter of 2021, BOSS direct employment achieved revenue of 1.168 billion yuan, a year-on-year increase of 173.9%, exceeding market expectations; during the reporting period, BOSS direct employment had a net loss of 1.414 billion yuan, mainly due to equity incentive expenses. After adjustments and deduction of equity incentive costs (SBC), BOSS directly hired to achieve meager profits, with a net profit of 246 million yuan under non-GAAP.
Speaking of the performance this quarter, BOSS directly hired founder, chairman and CEO Zhao Peng, said, “On the basis of continuing to strengthen the matching accuracy, more ordinary job seekers and small and medium-sized enterprises users will get what they deserve and equal Recommendations and exposure opportunities. As a technologically innovative enterprise in the field of human resources services, we will continue to pay attention to the vigorous recruitment and job hunting needs of the vast number of small and medium-sized enterprises, college students, and blue-collar groups, and continue to provide users with more information through investment in technology, products and manpower. Safe, more inclusive, and more efficient service.”
The financial report shows that in the second quarter, BOSS’s direct recruitment platform continued to grow in activity, with an average monthly active user number of 30.4 million, a year-on-year increase of 44.8%. In the 12 months ended June 30, 2021, BOSS directly hired paying corporate customers totaling 3.61 million, an increase of 135.9% from 1.53 million in the same period last year. At the same time, the number of “KA corporate customers” who paid more than 50,000 yuan within 12 months increased by 146.6%, which was higher than the growth rate of the company’s paying corporate customers, leading the industry by a large margin.
B0SS direct recruitment said that while the demand for recruitment was released with the economic recovery, the large, medium and small enterprises on the platform showed a strong determination to transform into digital. The second quarter is not a peak season for recruitment in the traditional sense, but more and more companies are paying attention to online recruitment services and their corresponding efficiency and rate of return. In addition to the Internet, technology, and urban service industries, a large number of companies in traditional manufacturing and traditional financial industries have also emerged on the platform.
At present, the offline security audit team directly hired by BOSS has covered 40 cities. The team members visit 50-70 companies every day, and have the ability to check the addresses of more than 100,000 companies every month. The authenticity of job information has always been a key factor considered by job seekers. In the future, the team will become part of the platform’s infrastructure construction in addition to matching technologies, and further improve the platform’s protection for job seekers, especially blue-collar, college students and other groups.
In the second quarter, the average monthly active users directly hired by BOSS reached 30.4 million, a year-on-year increase of 44.8%. At the same time, the company’s marketing efficiency has been significantly improved. The financial report shows that the sales and marketing expenses in the second quarter were 534 million yuan, and the sales and marketing expenses accounted for 45.7% of revenue, which was a significant drop from 85.9% in the same period last year.
In the second quarter of 2021, BOSS will continue to increase its investment in technology. In the second quarter of 2021, R&D expenses rose to 250 million yuan, an increase of 113.7% over the same period in 2020, and both the growth rate and the amount reached a record high. The increase in this expense was mainly due to the increase in the number of experienced R&D personnel and share-based compensation. According to public information, this is the 10th consecutive quarter of direct employment by BOSS that R&D expenses accounted for more than 20% of revenue.
In addition, according to the position report disclosed by investment research institutions, in the second quarter, Blackstone Fund, T. RowePrice, UBS AM, JP Morgan Chase, Fidelity Assets, Jinglin Assets, Tiger Global, Citibank, Hillhouse Capital and other mainstream technology companies have successively invested Directly hired by BOSS.