
Pinduoduo Inc
NASDAQ:PDD

Income Statement
Earnings Waterfall
Pinduoduo Inc
Revenue
|
393.8B
CNY
|
Cost of Revenue
|
-153.9B
CNY
|
Gross Profit
|
239.9B
CNY
|
Operating Expenses
|
-131.5B
CNY
|
Operating Income
|
108.4B
CNY
|
Other Expenses
|
4B
CNY
|
Net Income
|
112.4B
CNY
|
Income Statement
Pinduoduo Inc
Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||
Revenue |
1 744
N/A
|
3 092
+77%
|
5 696
+84%
|
8 645
+52%
|
13 120
+52%
|
16 281
+24%
|
20 862
+28%
|
25 003
+20%
|
30 142
+21%
|
32 138
+7%
|
37 041
+15%
|
43 737
+18%
|
59 492
+36%
|
75 118
+26%
|
85 971
+14%
|
93 267
+8%
|
93 950
+1%
|
95 577
+2%
|
103 970
+9%
|
117 968
+13%
|
130 558
+11%
|
144 401
+11%
|
165 242
+14%
|
198 578
+20%
|
247 639
+25%
|
296 814
+20%
|
341 593
+15%
|
372 107
+9%
|
393 836
+6%
|
|
Gross Profit | ||||||||||||||||||||||||||||||
Cost of Revenue |
(723)
|
(987)
|
(1 267)
|
(1 855)
|
(2 905)
|
(3 460)
|
(4 667)
|
(5 725)
|
(6 339)
|
(7 296)
|
(8 363)
|
(9 790)
|
(19 279)
|
(28 194)
|
(33 430)
|
(36 729)
|
(31 718)
|
(28 132)
|
(28 196)
|
(29 051)
|
(31 462)
|
(35 428)
|
(46 156)
|
(65 572)
|
(91 724)
|
(113 293)
|
(128 301)
|
(141 180)
|
(153 900)
|
|
Gross Profit |
1 021
N/A
|
2 105
+106%
|
4 429
+110%
|
6 790
+53%
|
10 215
+50%
|
12 821
+26%
|
16 195
+26%
|
19 278
+19%
|
23 803
+23%
|
24 842
+4%
|
28 678
+15%
|
33 947
+18%
|
40 213
+18%
|
46 923
+17%
|
52 541
+12%
|
56 538
+8%
|
62 232
+10%
|
67 445
+8%
|
75 774
+12%
|
88 917
+17%
|
99 095
+11%
|
108 973
+10%
|
119 086
+9%
|
133 006
+12%
|
155 916
+17%
|
183 521
+18%
|
213 292
+16%
|
230 927
+8%
|
239 936
+4%
|
|
Operating Income | ||||||||||||||||||||||||||||||
Operating Expenses |
(1 607)
|
(2 738)
|
(11 575)
|
(14 972)
|
(21 015)
|
(25 488)
|
(23 716)
|
(28 322)
|
(32 341)
|
(35 657)
|
(39 642)
|
(43 415)
|
(49 593)
|
(56 054)
|
(58 034)
|
(58 596)
|
(55 335)
|
(54 247)
|
(55 876)
|
(60 722)
|
(68 694)
|
(73 796)
|
(79 888)
|
(87 589)
|
(97 217)
|
(105 778)
|
(115 703)
|
(125 701)
|
(131 513)
|
|
Selling, General & Administrative |
(1 477)
|
(2 541)
|
(11 218)
|
(14 318)
|
(19 897)
|
(23 778)
|
(21 388)
|
(25 198)
|
(28 467)
|
(30 981)
|
(34 107)
|
(37 202)
|
(42 697)
|
(48 416)
|
(49 730)
|
(49 675)
|
(46 334)
|
(44 804)
|
(46 152)
|
(50 722)
|
(58 309)
|
(63 574)
|
(69 543)
|
(77 094)
|
(86 264)
|
(94 423)
|
(104 172)
|
(113 955)
|
(118 854)
|
|
Research & Development |
(128)
|
(186)
|
(347)
|
(643)
|
(1 113)
|
(1 710)
|
(2 328)
|
(3 123)
|
(3 860)
|
(4 676)
|
(5 535)
|
(6 213)
|
(6 879)
|
(7 637)
|
(8 304)
|
(8 921)
|
(8 216)
|
(9 442)
|
(9 725)
|
(10 001)
|
(10 385)
|
(10 223)
|
(10 345)
|
(10 495)
|
(10 952)
|
(11 355)
|
(11 531)
|
(11 747)
|
(12 659)
|
|
Depreciation & Amortization |
(2)
|
(1)
|
0
|
0
|
(5)
|
0
|
0
|
0
|
(14)
|
0
|
0
|
0
|
(17)
|
0
|
0
|
0
|
(785)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Other Operating Expenses |
0
|
(10)
|
(11)
|
(11)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
(586)
N/A
|
(633)
-8%
|
(7 146)
-1 029%
|
(8 182)
-14%
|
(10 800)
-32%
|
(12 667)
-17%
|
(7 521)
+41%
|
(9 044)
-20%
|
(8 538)
+6%
|
(10 815)
-27%
|
(10 964)
-1%
|
(9 468)
+14%
|
(9 380)
+1%
|
(9 130)
+3%
|
(5 493)
+40%
|
(2 058)
+63%
|
6 897
N/A
|
13 198
+91%
|
19 898
+51%
|
28 195
+42%
|
30 402
+8%
|
35 177
+16%
|
39 198
+11%
|
45 418
+16%
|
58 699
+29%
|
77 743
+32%
|
97 589
+26%
|
105 226
+8%
|
108 423
+3%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||
Interest Income Expense |
69
|
110
|
237
|
396
|
595
|
797
|
1 104
|
1 368
|
1 488
|
1 528
|
1 754
|
1 773
|
2 007
|
2 488
|
2 108
|
2 063
|
2 149
|
2 148
|
2 345
|
3 080
|
3 640
|
4 413
|
6 363
|
7 325
|
10 225
|
13 894
|
16 318
|
19 085
|
21 159
|
|
Non-Reccuring Items |
(10)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total Other Income |
1
|
5
|
6
|
6
|
(12)
|
(24)
|
14
|
36
|
83
|
78
|
105
|
140
|
194
|
676
|
733
|
622
|
656
|
426
|
1 568
|
2 168
|
2 221
|
3 209
|
3 049
|
2 793
|
2 953
|
3 606
|
2 993
|
2 721
|
3 120
|
|
Pre-Tax Income |
(525)
N/A
|
(518)
+1%
|
(6 903)
-1 232%
|
(7 780)
-13%
|
(10 217)
-31%
|
(11 894)
-16%
|
(6 403)
+46%
|
(7 640)
-19%
|
(6 968)
+9%
|
(9 209)
-32%
|
(9 105)
+1%
|
(7 555)
+17%
|
(7 180)
+5%
|
(5 966)
+17%
|
(2 652)
+56%
|
628
N/A
|
9 702
+1 446%
|
15 772
+63%
|
23 812
+51%
|
33 443
+40%
|
36 264
+8%
|
42 798
+18%
|
48 610
+14%
|
55 535
+14%
|
71 876
+29%
|
95 243
+33%
|
116 901
+23%
|
127 032
+9%
|
132 701
+4%
|
|
Net Income | ||||||||||||||||||||||||||||||
Tax Provision |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(855)
|
(1 934)
|
(2 498)
|
(4 056)
|
(4 739)
|
(4 726)
|
(5 759)
|
(7 359)
|
(9 335)
|
(11 850)
|
(15 320)
|
(18 076)
|
(18 764)
|
(20 267)
|
|
Income from Continuing Operations |
(525)
|
(518)
|
(6 903)
|
(7 780)
|
(10 217)
|
(11 894)
|
(6 403)
|
(7 640)
|
(6 968)
|
(9 209)
|
(9 105)
|
(7 555)
|
(7 180)
|
(5 966)
|
(2 652)
|
(227)
|
7 769
|
13 274
|
19 755
|
28 704
|
31 538
|
37 040
|
41 251
|
46 200
|
60 027
|
79 923
|
98 825
|
108 268
|
112 435
|
|
Net Income (Common) |
(499)
N/A
|
(599)
-20%
|
(6 983)
-1 066%
|
(7 860)
-13%
|
(10 298)
-31%
|
(11 894)
-15%
|
(6 403)
+46%
|
(7 640)
-19%
|
(6 968)
+9%
|
(9 209)
-32%
|
(9 105)
+1%
|
(7 555)
+17%
|
(7 180)
+5%
|
(5 966)
+17%
|
(2 652)
+56%
|
(227)
+91%
|
7 769
N/A
|
13 274
+71%
|
19 755
+49%
|
28 704
+45%
|
31 538
+10%
|
37 040
+17%
|
41 251
+11%
|
46 200
+12%
|
60 027
+30%
|
79 923
+33%
|
98 825
+24%
|
108 268
+10%
|
112 435
+4%
|
|
EPS (Diluted) |
-0.11
N/A
|
-0.13
-18%
|
-1.58
-1 115%
|
-2.13
-35%
|
-3.47
-63%
|
-2.59
+25%
|
-1.4
+46%
|
-1.63
-16%
|
-1.51
+7%
|
-1.99
-32%
|
-1.9
+5%
|
-1.57
+17%
|
-1.51
+4%
|
-1.21
+20%
|
-0.46
+62%
|
-0.03
+93%
|
1.36
N/A
|
2.33
+71%
|
3.47
+49%
|
4.96
+43%
|
5.47
+10%
|
6.33
+16%
|
7.08
+12%
|
7.87
+11%
|
10.28
+31%
|
13.53
+32%
|
16.67
+23%
|
18.32
+10%
|
19
+4%
|