Lucas Announces Fiscal Year 2023 Financial Results with 92.3% Growth, Reaching Revenue at $208M - Seite 2

“Our revenue growth remains strong. During 2023, total revenues grew by 92.3% driven by the growth in our corporate customers and active registered users, as well as the post COVID recovery in China. Since 2020, we have achieved an impressive revenue cumulative average growth of roughly 86%. We are also focused on profitability as we grew our EPS by 134%. Unlike most of our peers in the artificial intelligence space, we have achieved profitability in each of our last four years. Importantly, our active registered users on our platform increased by 48% during 2023, setting the stage for strong revenue growth for the foreseeable future, not only within human resource services, but in the areas such as IT outsourcing and information services. I expect our organic growth to persist as we continue to disrupt the market, and further expand our growth with accretive acquisitions outside China that will drive value for shareholders.”

Full Year 2023 Financial Results

Total revenue for the fiscal year ended December 31, 2023 was RMB1,474 million (US$208 million), compared to the RMB767 million for the fiscal year ended December 31, 2022, representing a year-over-year growth rate of 92.3%.

• Recruitment services, which are services fees for filling individual open positions, increased by 59.6% to RMB659 million (US$92.8 million).
• Outsourcing services, which are services fees for providing overall IT project solutions, increased by 136.5% to RMB714 million (US$100.6 million).
• Other services, which include the selling of healthcare and training services, increased by 95.5% to RMB101 million (US$14.2 million).
  

Gross profit margin for the fiscal year ended December 31, 2023 was 28.4% compared to 28.1% in fiscal year ended December 31, 2022. The increase in gross margins was due to productivity gain as well as a more favorable product mix.

Total operating expenses for the fiscal year ended December 31, 2023 was RMB351 million (US$49.4 million), an 91.1% increase compared to the RMB184 million reported in 2022.

Selling and marketing expenses increased by 51.7% compared to 2022 due to continuous investment in brand promotion of our proprietary platforms, Star Career and Columbus for promotion activities that directly contribute to new user growth and acquisition of customer leads.

General and administrative expenses increased by 127.1% compared to 2022 due to increase in user support operation expenses as the user number increased and more experts from various industries were invited to maintain activity level of users, and the increase in professional services expenses related to IPO activities.