Aurora Mobile Limited

Ladies and gentlemen, thank you for standing by. Welcome to the Aurora Mobile fourth quarter and fiscal year 2025 earnings conference call. At this time, all participants are in the listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. please be advised that today's conference is being recorded. I would now like to hand the conference over to your host today, Christian Arnell. Please go ahead, sir.

Thank you. Hello, everyone, and thank you for joining us today. Aurora Mobile's earnings release was distributed earlier today and is available on the IR website at ir.jiguang.cn. On the call today are Mr. Wei-Dong Luo, Chairman and Chief Executive Officer, Mr. Shannon Bong, Chief Financial Officer, and Mr. Guangyan Chen, General Manager. Following their prepared remarks, they will be available to take your questions and give you answers during the Q&A session that follows. Before we begin, I'd like to remind you that this conference call contains forward-looking statements made within the meaning of Section 21E of the Securities Exchange Act of 1934 as amended and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon management's current expectations and current market and operating conditions, which are difficult to predict and may cause the company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, and or factors are included in the company's filings with the US SEC. The company does not undertake any obligation to update any forward-looking statement as a result of new information future events, or otherwise, except as required under applicable law. With that, I'd now like to turn the conference over to Mr. Luo. Please go ahead.

Thanks, Christian. Hi, everyone. Welcome to Arora Mobile's 2035 Fourth Quarter Earnings Call. Before I comment on our Q4 results, I would like to remind everyone that we have uploaded a quarterly earnings day on our IR website. You may refer to that as we proceed with the call today. I'm truly excited about the various things that are going to here at AeroMobile. Revenue is surging and our financials are as strong as ever. By the end of this call, I trust you will agree with me, our 2025 and Q4 numbers are truly exceptional. As we have done in the past, when looking at the fourth quarter and the year as a whole, A single phase comes to mind, a year of pure brilliance. Why? Because we record the first-ever full-year net-gap profit in our history. Not only that, but we achieved the three consecutive quarters of net-gap profit leading to this quarter, which just as importantly achieved quarterly revenue at $100 million mark. It's been a truly historic year. Let me now dive deeper into the outstanding work and numbers that made this success possible. Firstly, the group's revenue this quarter surged to revenue of $105.2 million, representing a remarkable double-digit 1.3% year-over-year and 1.6% sequential growth. This performance broke through the guidance we showed in our Q3 earnings call. Secondly, our global flagship product, Engagelab, continues to fire on all cylinders, winning new customers across the globe. This momentum drove Engagelab's ARR for December 2025 to a record high of US$10 million, representing 186% year-over-year growth. Further, gross profit grew by 23% year-over-year and by 9% quarter-over-quarter. This is the highest gross profit we have seen over the past 16 quarters. Last but not least, we delivered another standout quarter on cash management. Operating cash inflow hit RMB 35.1 million, the highest we have seen since Q4 of 2020. With so many record highs this quarter, I am incredibly proud of what our team has managed to accomplish. Gratifying to share this resource with you today, and it was driven by our strategy, hard work and patience, not by luck. Everyone in our mobile, for real effort and energy toward our collective goals, day in and day out, 2025 stands as one of our most successful year today, the result of true commitment and strong execution. With that said, the work is not done. The solid foundation we have built over the past few years position us to achieve even great things. I sincerely believe we are ready to seize the next wave of global opportunities, and our track record proves we can. As we move into 2026, we will continue on our expansion path with the same discipline and focus we showed in the past years, enhancing our products and services, accelerating growth, and maintaining strong financial management. I am optimistic of what 2026 will bring. The path ahead is rich with opportunities, and our brightest moments are still to come. After a year of pure brilliance, our theme for 2036 is clear growth acceleration. Now, let me share more on the individual business performance. Our total Q4 growth revenue has exceeded $1,100 million for the first time in history since the transition to pure SaaS business model. We have grown both year-to-year and quarter-to-quarter. In particular, the lion's share of year-to-year revenue was contributed by strong numbers from developer subscription services. Our solid execution in 2025 across different markets provided an excellent platform to drive our top-line performance. In this quarter, both developer subscription services and vertical application records solid acceleration with double-digital year-to-year revenue growth. Developer Services Revenue, which consists of Subscription Services and Value Added Services, delivers strong performance with 7% growth year-over-year and 18% growth quarter-over-quarter. Subscription Revenue performed well, increasing by 13% year-over-year and 7% quarter-over-quarter. Value Added Services Revenue grew by an impressive 101% quarter-over-quarter but decreased 13% year-over-year. Our office is developer subscription services given revenue of RMB 61.9 million, representing growth of 1.3% year-over-year and 8% quarter-over-quarter. The year-over-year revenue growth was managed by increase in both customer number and ARPU. In this quarter, subscription revenue broke through the RMB 60 million one-quarter revenue mark and reached its highest level in history. Now it's time for what many of you have been waiting for, an update on our global Flash product, Engagelab, which continues its remarkable growth trajectory quarter after quarter since it was launched. First, Engagelab's ARR has achieved a new and important milestone, US$10 million as of December 2025. Following triple digital growth in Q3, we record 186% year-over-year ARR growth this quarter. Secondly, we deliver another very strong quarter of the engaged lab. Cumulative fund contract value amount to, let me be, 157 million by the end of Q4 of 2025. In Q4 alone, we signed up more than, let me be, 29 million worth of new contracts. This in our view is simply outstanding. We expect this revenue growth momentum to continue for the next 24 months. Further, we secure new wings from global customers across all corners of the world. Our number of customers increased by 142% year-over-year to reaching 1,641. Our global go-to-market initiatives are proving highly effective in driving this growth. Fourthly, our engagement products and services are now sold to customers in more than 70 different countries and regions globally. we expanded our footprint into 18 new countries in Q4 alone. Ultimately, the role of Engagelab into global market has been a resounding success. Looking back to 2025, we are immensely pleased with the expansion of our global Flash product. We have come a long way since we launched Engagelab in Q4 of 2022. In a nutshell, Engagelab provides a suite of products and services for omni-channel infrastructure helping our customers to strengthen engagement with their users in an efficient and effective manner. The customers of Engagelab are from various industry verticals with no specific industry concentration risk. The very strong numbers we have recorded in 2025 have given us great confidence in the acceleration profit of this business. Historical 2025 numbers aside, in the beginning of 2026, we have seen healthy signs for the overseas markets in terms of potential leads and customers. Let me also touch on the excellent partners we have globally. As of December 2025, within our engagement ecosystem, we have 17 partners in different countries and regions. These partners are selected through stringent regions and often multi-stage process. We see them as our representative in different markets, which means we have high expectations of the contribution from these partners in overseas markets in the future. They are another important driver of our sustainable long-term growth. We will continue to work and engage with more local partners to better utilize their resources and local networks. Within subscription revenue, some of the notable gains in this quarter include, but are not limited to, CUNY large language model, J&T Express, Citibank, and China Unicorn. When the added services revenue will remain be 14.2 million at 101% quarter-to-quarter, the solid revenue quarter-to-quarter growth was mainly due to the significant increase in spends by advertisers. The traditional quarterly online shopping face-to-face in Q4 also contributed to significant revenue growth sequentially. Now, let me pass the call over to Xiangyuan. We will take you through the metrics of vertical applications and financial performance for this quarter. Take it away.