CooTek (Cayman) Inc (NYSE:CTK) Q2 2019 Earnings Conference Call Transcript

Aug 20, 2019 • 08:00 am ET

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CooTek (Cayman) Inc (NYSE:CTK) Q2 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, and welcome to the CooTek Second Quarter 2019 Unaudited Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions.

[Operator Instructions] I would now like to turn the conference over to Christian Arnell. Please go ahead.

Executive
Christian Arnell

Thank you. Hello, everyone and thank you for joining us today. Our earnings release was distributed earlier today and is available on the IR website at ir.cootek.com as well as through PR Newswire.

On the call today from CooTek are Mr. Karl Zhang, Chairman and Chief Architect; and Ms. Jean Liqin Zhang, Chief Financial Officer. Karl will be -- Karl will review business operations and Company highlights, followed by Jean who will discuss financials and guidance. They will both be available to answer your questions during the Q&A session that follows.

Before we begin, I'd like to kindly remind everyone that this conference call may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminologies such as will, expect, anticipate, future, intends, plans, belief, estimates, confident and similar statements.

Any statements that are not historical facts, including statements about CooTek's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the US Securities and Exchange Commission. All information provided on this call is current as of today and CooTek does not undertake any obligation to update such information, except as required under applicable law.

It is now my pleasure to introduce Karl. Karl, please go ahead.

Executive
Karl Kan Zhang

Thank you. Thank you everyone for joining our second quarter earnings call. The quarter delivered mixed results with both promising progress and growth opportunities and as well as challenges that we have taken very seriously and are addressing as fast and forcefully as we can. Growth remained strong in the second quarter. The average DAU of our content-rich portfolio apps reached 27.6 million in June, thanks to the continual investments in our content ecosystem and the optimization of products and operations such as the user recall program. The engagement rate of our portfolio apps continues to grow to 42% in June of this year, up from 39% in March this year, 37% in December and 33% in September last year. We have been consistently making significant progress by releasing competitive products, retaining our users and actively facilitating interaction with our products.

Our mission is to empower everyone to enjoy relevant content seamlessly. We believe that the global content app market is still in its early stage, and this gives us massive opportunities in both horizontal and vertical areas. We are investing to firmly establish and