Cloopen Group Holding Limited (RAAS) stock was traded at $4.29 in after-market, declining -1.61% from the last close. In the last trading session, the stock was closed at $4.36. The average volume of shares traded in the trading session was around 1,497,496. Below are the details of their 3rd quarter.
Financial overview of their Unaudited 3rd quarter:
- The revenue of the Cloopen Group Holding Limited (RAAS) was $42.9 million which is a 44.3% increase from the previous year’s same quarter.
- Gross margin of the company was reported to be 43.5% as compared to the last year’s 3rd quarter which was 38.1%.
- The Net loss company reported was $17.4 million or RMB112.2 million. In the same quarter of the last year the net loss was RMB93.9 million.
- The Adjusted EBITDA loss was $9.1 million, which is a 59.6% increase.
- Operating expenses increased by 51.5%. In this year’s 3rd quarter the company reported Operating expenses to be $36.9 million or RMB237.8 million, while the operating expenses were RMB157 million.
RAAS: Milestones achieved in the 3rd quarter of 2021
- As of 30 September 2021, the numbers of active customers were 12,224 and the large-enterprise customers were 219 as of the same date.
- The revenues of the company from cloud-based contact center (CC) saw an increase of 125%.
- Cloopen Group Holding Limited (RAAS) and Tencent cloud decided to enter into a Cooperation Framework Agreement to form a long-term partnership
Impact of the results of 3rd quarter on its RAAS stock
As soon as the news hit the market, the value of the shares of Cloopen Group Holding Limited (RAAS) increases by 17.10% in the Pre-market. The investors were seen to response in a good way to its stock after the company announced its unaudited financial statement for the 3rd quarter of 2021.
Conclusion
The financial statements show positive growth of Cloopen Group Holding Limited (RAAS), and it is expected to grow at the same pace. Financial experts are forecasting that the company’s growth rate in the 4th quarter is expected to be around 26-28%.
