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Summary
- The stock of audio entertainment company gained 72% YTD.
- LIZHI to announce first-quarter results on June 1, 2021.
- Lizhi collected revenue of US$229.8 million in the fiscal year 2020.
The stock of LIzhi Inc. (NASDAQ:LIZI) fell 6.29% on Thursday, May 27, a day after it saw significant gains in intra-day trade.
Lizhi has been among the active stocks in recent days. On Wednesday, more than 73 million stocks were traded. Its average volume is three million.
The stock was priced at US$6.41 at the close on Thursday, down 6.29% from the previous session.
The company plans to report first-quarter results on June 1, 2021.
Lizhi debuted on NASDAQ in January 2020.
Lizhi’s market cap is US$342.7 million.
Source: Pixabay
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What Lizhi does?
Founded in 2010, Lizhi Inc. is headquartered in China. It provides online content to the audio community and interactive audio entertainment services on its platform.
Lizhi is also an audio-based social networking platform where users interact.
According to the company, it seeks to create a global audio ecosystem. LIZHI App provides a platform to the online audio community, which create and share audio content.
It also offers podcast services via LIZHI App and LIZHI Podcast. LIZHI App was launched in 2013, and LIZHI Podcast was launched in January this year.
The podcast is intended to provide curated content to listeners from its vast content library.
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Lizhi Collaborations
In April this year, Lizhi collaborated with WM Motors, a Chinese electric vehicle company, to create an in-car audio podcast product for the auto company.
Lizhi collected revenue of US$229.8 million in the fiscal year 2020 ended December 31.
In the previous fiscal year, its revenue collection was US$169.5.
It incurred a net loss of US$36 million in FY2020, against US$154 million in FY2019.
Lizhi saw higher cash flow from operations and financing activities in FY2020.
The stock jumped more than 60% YTD.
