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iClick Interactive Asia Group Limited Reports 2024 Half-Year Unaudited Financial Results

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HONG KONG, Nov. 27, 2024 /PRNewswire/ — iClick Interactive Asia Group Limited (“iClick” or the “Company”) (Nasdaq: ICLK), a renowned online marketing and enterprise solutions provider in Asia that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced unaudited financial results for the six months ended June 30, 2024.

Six Months Ended June 30,

2024

2023

Percentage
change

(US$ in thousands)

(Unaudited)

Financial Metrics:

Revenue from continuing operations

Marketing Solutions

9,324

12,663

(26) %

Enterprise Solutions

4,896

4,330

13 %

Total revenue from continuing operations

14,220

16,993

(16) %

Gross profit from continuing operations

8,096

9,276

(13) %

Net loss from continuing operations

(1,269)

(10,275)

N/M

Net loss from discontinued operations

(5,104)

(18,294)

N/M

Diluted net loss from continuing operations per American Depositary Shares (“ADS”)

(0.12)

(1.01)

N/M

Operating Metrics:

Gross billing

23,060

29,983

(23) %

“I am pleased to report that our continuing operations recorded an improvement in gross margin to 56.9% in the first half of 2024 from 54.6% in the first half of 2023, and we saw the increase in enterprise solutions revenue by 13% year-over-year. The Company will continue to focus on improving the financial performance and cash flows, while exploring strategic opportunities for broader business growth.”, said Mr. Jian Tang, Chairman, Chief Executive Officer and Co-Founder of iClick.

“We continue monitoring and evaluating operations and market trends proactively in order to optimize our business and enhance profitability. We have recently completed the disposal of our mainland China Enterprise Solutions business and demand side Marketing Solutions business. The results of these businesses are presented under discontinued operations.”

First Half Year of 2024 Results on Continuing Operations:

Revenue for the first half of 2024 was US$14.2 million, compared with US$17.0 million for the first half of 2023. Revenue from Marketing Solutions declined to US$9.3 million for the first half of 2024, compared with US$12.7 million for the first half of 2023. It was resulted from our strategic contraction of lower margin and higher risk businesses, with weaker demand from clients on advertising spending due to uncertainty in the macro-economic environment. Revenue from Enterprise Solutions was US$4.9 million for the first half of 2024, improved from US$4.3 million in the first half of 2023 due to the increasing demand for digital transformation and services.

Gross profit for the first half of 2024 was US$8.1 million, compared with US$9.3 million for the first half of 2023. With the effort of reducing lower margin and higher risk businesses, and a rising revenue contribution from the higher-margin Enterprise Solutions business, gross profit margin increased to 56.9% for the first half of 2024 from 54.6% for the first half of 2023.

Total operating expenses were US$12.4 million for the first half of 2024, decreased from US$14.1 million for the first half of 2023. The change was primarily due to our cost optimization execution, which resulted in reduction of staff cost and savings on promotional expenses. The expected credit losses provision of trade receivables was also reduced because of our close monitoring of cash collection.

Net loss from continuing operations was US$1.3 million for the first half of 2024, significantly improved from the net loss of US$10.3 million for the first half of 2023, mainly due to no impairment of equity investments in the first half of 2024, which we recorded US$5.6 million in the first half of 2023. Operating loss was reduced by US$0.6 million.

Net loss from continuing operations attributable to the Company’s shareholders per basic and diluted ADS for the first half of 2024 was US$0.12, compared with a net loss attributable to the Company’s shareholders per basic and diluted ADS of US$1.01 for the first half of 2023.

Gross billing1 from continuing operations was US$23.1 million for the first half of 2024, compared with US$30.0 million for the first half of 2023, mainly as a result of our continued strategy of reducing lower margin and higher risk businesses, as well as clients’ reduced advertising spending.

Net loss from discontinued operations was US$5.1 million for the first half of 2024, compared with the net loss of US$18.3 million for the first half of 2023, mainly due to cost optimization, and gain on disposal of discontinued operations amounting to US$2.6 million in the first half of 2024.

As of June 30, 2024, the continuing operations of the Company had cash and cash equivalents, time deposits and restricted cash of US$70.2 million, compared with US$41.3 million as of December 31, 2023.

About iClick Interactive Asia Group Limited

Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a renowned online marketing and enterprise solutions provider in Asia. With its leading proprietary technologies, iClick’s full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. For more information, please visit https://ir.i-click.com.

1 Gross billing is defined as the aggregate dollar amount that clients pay the Company after deducting rebates paid and discounts given to.

 

Safe Harbor Statement

This announcement contains forward-looking statements, including those related to the Company’s business strategies, operations and financial performance. These statements constitute “forward-looking” statements 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 can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks and uncertainties. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

For investor and media inquiries, please contact:

In China:

In the United States:

iClick Interactive Asia Group Limited

Core IR

Catherine Chau

Tom Caden

Phone: +852 3700 9100

Tel: +1-516-222-2560

E-mail: ir@i-click.com

E-mail: tomc@coreir.com

 

(financial tables follow)

 

ICLICK INTERACTIVE ASIA GROUP LIMITED

Unaudited Condensed Consolidated Statements of Comprehensive Loss

(US$’000, except share data and per share data, or otherwise noted, unaudited)

Six Months Ended
   June 30,

2024

2023

Continuing operations

Revenue

14,220

16,993

Cost of revenue

(6,124)

(7,717)

Gross profit

8,096

9,276

Operating expenses

Research and development expenses

(311)

(265)

Sales and marketing expenses

(4,381)

(8,826)

General and administrative expenses

(7,704)

(5,052)

Total operating expenses

(12,396)

(14,143)

Interest expense

(32)

(117)

Interest income

598

591

Other gains/(losses), net

2,560

(5,756)

Loss before income tax expense and share of losses from an equity investee

(1,174)

(10,149)

Share of losses from an equity investee

(37)

(19)

Loss before income tax expense

(1,211)

(10,168)

Income tax expense

(58)

(107)

Net loss from continuing operations

(1,269)

(10,275)

Net loss attributable to non-controlling interests

111

9

Net loss from continuing operations attributable to iClick Interactive Asia Group
Limited’s ordinary shareholders

(1,158)

(10,266)

Discontinued operations

Loss from operations of discontinued operations

(7,666)

(18,305)

Income tax (expense)/credit

(23)

11

Gain on disposal of discontinued operations

2,585

Net loss from discontinued operations

(5,104)

(18,294)

Net loss attributable to non-controlling interests

32

49

Net loss from discontinued operations attributable to iClick Interactive Asia Group
Limited’s ordinary shareholders

(5,072)

(18,245)

Net loss

(6,373)

(28,569)

Net loss attributable to iClick Interactive Asia Group Limited’s ordinary
shareholders

(6,230)

(28,511)

Net loss from continuing operations

(1,269)

(10,275)

Other comprehensive loss:

Foreign currency translation adjustment, net of US$nil tax

(13)

(131)

Comprehensive loss from continuing operations

(1,282)

(10,406)

Comprehensive loss from continuing operations attributable to non-controlling
interests

111

49

Comprehensive loss from continuing operations attributable to iClick
Interactive Asia Group Limited’s ordinary shareholders

(1,171)

(10,357)

Net loss from discontinued operations

(5,104)

(18,294)

Other comprehensive income:

Foreign currency translation adjustment, net of US$nil tax

301

Comprehensive loss from discontinued operations

(5,104)

(17,993)

Comprehensive loss from discontinued operations attributable to non
-controlling interests

32

20

Comprehensive loss from discontinued operations attributable to iClick
Interactive Asia Group Limited’s ordinary shareholders

(5,072)

(17,973)

Comprehensive loss attributable to iClick Interactive Asia Group Limited’s
ordinary shareholders

(6,243)

(28,330)

Net loss from continuing operations per ADS attributable to iClick Interactive
Asia Group Limited’s ordinary shareholders

— Basic

(0.12)

(1.01)

— Diluted

(0.12)

(1.01)

Net loss from discontinued operations per ADS attributable to iClick Interactive
Asia Group Limited’s ordinary shareholders

— Basic

(0.51)

(1.79)

— Diluted

(0.51)

(1.79)

Net loss per ADS attributable to iClick Interactive Asia Group Limited’s
ordinary shareholders

— Basic

(0.63)

(2.80)

— Diluted

(0.63)

(2.80)

Weighted average number of ADS used in per share calculation:

— Basic

9,955,943

10,178,966

— Diluted

9,955,943

10,178,966

 

 

ICLICK INTERACTIVE ASIA GROUP LIMITED

Unaudited Condensed Consolidated Balance Sheets

(US$’000, except share data and per share data, or otherwise noted, unaudited)

As of
June 30, 2024

As of
December 31,
2023

Assets

Current assets

Cash and cash equivalents, time deposits and restricted cash

70,239

41,264

Accounts receivable, net of allowance for credit losses of US$1,558 and
   US$1,571 as of June 30, 2024 and December 31, 2023 respectively

11,210

13,535

Other current assets

15,813

11,516

Discontinued operations

54,454

93,488

Total current assets

151,716

159,803

Non-current assets

Other assets

3,727

3,596

Discontinued operations

112

305

Total non-current assets

3,839

3,901

Total assets

155,555

163,704

Liabilities and equity

Current liabilities

Accounts payable

3,310

4,462

Bank borrowings

36,932

1,965

Other current liabilities

23,830

20,200

Discontinued operations

56,607

93,445

Total current liabilities

120,679

120,072

Non-current liabilities

Other liabilities

221

551

Discontinued operations

1,463

1,829

Total non-current liabilities

1,684

2,380

Total liabilities

122,363

122,452

Equity

Ordinary shares – Class A (US$0.001 par value; 80,000,000 shares authorized
   as of June 30, 2024 and December 31, 2023, respectively; 38,752,446
   shares and 44,477,356 shares issued and outstanding as of June 30, 2024
   and December 31, 2023, respectively)

39

45

Ordinary shares – Class B (US$0.001 par value; 20,000,000 shares authorized as
    of June 30, 2024 and December 31, 2023, respectively; 5,034,427 shares issued
   and outstanding as of June 30, 2024 and December 31, 2023, respectively)

5

5

Treasury shares (218,396 shares and 6,398,616 shares as of June 30, 2024
   and December 31, 2023, respectively)

(39)

(28,656)

Other reserves

31,853

65,731

Total iClick Interactive Asia Group Limited shareholders’ equity

31,858

37,125

Non-controlling interests

1,334

4,127

Total equity

33,192

41,252

Total liabilities and equity

155,555

163,704

 

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AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future

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Asia-Pacific’s first Broadband Development Summit brings regulators and operators to Bangkok to set the agenda

BANGKOK, July 19, 2026 /PRNewswire/ — Government officials, standards bodies and telecom operators gathered in Bangkok on 14 July for the inaugural Broadband Development Summit APAC 2026, convened by the World Broadband Association (WBBA) to build consensus on AI-era networks.

Participants included the ITU, Thailand’s National Board of the Digital Economy and Society, WBBA, IAB, FNCAP, WAA, NIDA and the IPv6 Council, alongside operators Telkomsel, XLSmart, Surge, Globe, AIS, CMI and HKT and Huawei.

Denny Deng, President of Huawei Asia Pacific Carrier Business, envisions a “faster, smarter, greener” Asia-Pacific.

VOICES FROM THE SUMMIT

“To seize the opportunities of the AI era, we call on the industry to accelerate broadband evolution, advance computing-network synergy, and strengthen the cross-border connectivity. Together, let us build faster, smarter, and greener digital infrastructure for Asia-Pacific.”
— Denny Deng, President of Asia Pacific Carrier Business, Huawei

“High-speed broadband is no longer just about ‘getting online’ — it is the vital infrastructure upon which the entire AI revolution is being built. We view AI not merely as a tool, but as a primary engine for national competitiveness and a catalyst for improving the quality of life for all.”
— Wetang Phuangsup, Ph.D., Secretary-General, the National Board of the Digital Economy and Society, Thailand

“Three initiatives define the road to 2030. We must close the quality divide so the value of broadband reaches everyone. We must build AI-ready networks — 10G access, 800GE cores, intelligence end to end. And we must do it together, through shared standards.”
— Martin Creaner, Director General of WBBA

“Moving towards next-generation networks, network architectures must continue to evolve to deliver broader connectivity, superior quality, enhanced security, and greater intelligence. This evolution is essential for Net5.5G, positioning the network not simply as infrastructure, but as the foundation that enables AI, strengthens resilience and efficiency, and supports digital transformation across industries.”
— Dhruv Dhody, Industry Standardization Expert at Huawei, Chair of the IAB, IETF

“Across Asia-Pacific, fibre is extending beyond homes and offices into rooms, devices, and machines. By working together, we can accelerate fibre innovation and adoption to build truly AI-ready infrastructure.”
— Ilham Nandana, Chair of the Market Intelligence Committee, Fiber Network Council APAC (FNCAP)

“We fixed it before you feel it!  AIS is redefining premium home broadband by combining ultra-fast connectivity with AI-driven network intelligence and smart home ecosystem — delivering proactive, invisible service excellence that transforms connectivity into differentiated customer value and sustainable ARPU growth.”
— Thanit Chaiyaboonthanit, Head of Technology Department, Broadband Business, AIS

“Connecting the Unconnected: Affordable Broadband at Scale. Create equal access to global information and empower Indonesia’s digital society.”
— Shannedy Ong, CTO of Surge Indonesia

“Beyond Connectivity: Telkomsel is transforming into a true value creator. By leveraging our FBB market-leading footprint, we power growth through service excellence, customer loyalty, and a next-generation home ecosystem.”
— Stanislaus Susatyo, Director of Sales, Telkomsel Indonesia

“We stopped treating AI as an add-on feature. Instead, our approach at Globe starts with architecture, embedding intelligence into the very core of how we build, how we sell, and how we operate.
AI continuously monitors network health, customer behavior and service quality. Rather than waiting for failures, the system predicts degradation and initiates corrective actions. By maintaining minute-level awareness of network health, our systems automatically resolve 30% of all Wi-Fi issues without any human intervention.”
— Danny Theseira, Head of Broadband Business Group at Globe Telecom

“Huawei is driving the Optics-AI Synergy to foster their collaborative growth. Through AI-ON, operators could build an AI-centric all-optical target network and establish 1-5-20ms latency circles across the Asia Pacific region. AI-ON also supports efficient computing access and usage while delivering an ultimate network experience through gigabit/ultra-gigabit home broadband, accelerating the widespread adoption of AI services.”
— Kim Jin, Vice President & Chief Marketing Officer Optical Business Product Line, Huawei

“Connectivity is not just about technology. It is a lifeline, a platform for opportunity, and a driver of sustainable development. I believe the intersection of connectivity and artificial intelligence will shape the future of smarter, more resilient networks.”
— Dr. Cosmas Zavazava, Director of the Telecommunication Development Bureau, ITU

“Performance and user experience are the essential path to the next-generation WLAN. Based on standards and AI-driven innovation, let’s jointly explore the path to the future autonomous WLAN with all the stakeholders.”
— Dr. Crane H. Yang, Secretary-General, World WLAN Application Alliance (WAA)

“At the summit, NIDA and WBBA signed an MOU to accelerate next-generation network evolution and establish pioneering smart city benchmarks through the co-development of industry standards, the harmonization of global regulations, and the sharing of vertical industry insights.
NIDA focuses on advancing network architecture standards, while WBBA drives global consensus on broadband evolution. This natural strategic complementarity creates vast opportunities for future collaboration.”
— Joey Deng, Secretary-General of NIDA

“ION-2030 develops the global standard for next generation optical networks in the AI era. It provides exceptional AI application and service experience. The WBBA and ITU will jointly accelerate its development, and this is a unique opportunity for Asia-Pacific stakeholders to actively influence the future of optical broadband networks.”
— Dr. Marcus Brunner, Chief Expert Standardization, WBBA WG1 Chair and Vice-Chair of ETSI ISG F5G

“The transition into the AI era demands a high-quality, deterministic digital foundation. By releasing Net5.5G policy guidelines, Malaysia is accelerating the evolution of next-generation network standards based on IPv6, establishing an innovative infrastructure to unleash AI’s value and drive a prosperous digital economy for 2030.”
— Prof. Sureswaran Ramadass, Chair of APAC at IPv6 Council, Industry Partner of WBBA

“The digital economy is thriving across the Asia-Pacific region, with AI emerging as a core catalyst for intelligent transformation. China Mobile International (CMI) is driving regional growth by integrating China’s advanced AI capabilities with comprehensive communications, computing, and AI services. Moving forward, CMI will collaborate closely with industry partners to foster a shared, AI-driven future for the region.”
— Paul Lin, Managing Director of Commercial and Technology, Asia Pacific, China Mobile International

“Next-generation network infrastructure is the oxygen of the intelligent economy. By integrating cutting-edge 800G connectivity with quantum-safe security, HKT is laying the essential foundations to keep Hong Kong’s enterprises highly competitive, secure, and ready for the computing paradigm shifts of tomorrow.”
— Wilson Cheung, Vice President, Broadband Design & Cyber Security, HKT

“The evolution toward Net5.5G AI WAN is an important step in strengthening XLSMART’s transport network for the future. By progressively adopting AI-assisted operations, SRv6, SDN, service differentiation, and higher-capacity transport infrastructure, we are enhancing network intelligence, operational efficiency, and service resilience while supporting long-term sustainability. This transformation is a continuous journey that aligns with the industry’s vision of AI-native broadband networks. Through collaboration with our technology partners and the broader ecosystem, we will continue to develop capabilities that deliver better network performance and support Indonesia’s growing digital connectivity needs.”
— Regie Ginanjar, Head of Transport Autonomy & Orchestration, Transport Network Transformation, XLSMART

“For the AI era, Huawei upgrades the IP bearer network via security resilience, multi-dimensional awareness, and network autonomy. This empowers carriers to guarantee service experience, accelerate monetization, and enhance efficiency, ushering in a new chapter of intelligent connectivity.”
— Arthur Wang, Vice President of Data Communication Product Line, Huawei

A CONVERGING VIEW

Speakers agreed AI is shifting networks from connectivity to intelligent connectivity, as broadband, IP, computing and cross-border infrastructure converge to support innovation and coordination.

WBBA launched the AI-Net Certification, a global benchmark for national policy, industrial ecosystems and network intelligence. XLSmart was named first AI-Net Champion, and Indonesia was among the first with a certified operator, backed by its Net5.5G roadmap.

In another high-profile segment, WBBA Director General Martin Creaner presented the Gigacity Certification to KOMDIGI, SURGE, Telkomsel, AIS, TRUE, HKT and Globe, recognizing regional broadband pioneers.

 

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SOURCE HUAWEI

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Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer

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Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.

NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.

The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.

Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”

Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.

The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.

The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.

For more information on Laifen, please visit LaifenTech.com.

About Laifen: 

Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.

Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.

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Pillsbury Notice of Data Breach

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html

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