Hexindai Inc. (NASDAQ:HX) Q1 2020 Earnings Conference Call Transcript

Sep 18, 2019 • 08:00 am ET

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Hexindai Inc. (NASDAQ:HX) Q1 2020 Earnings Conference Call Transcript

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Presentation
Executive
Kerrie Rui Zhang

year.

Finance costs during the first quarter of fiscal year 2020 were $0.6 million compared to nil during the same period of last fiscal year. The increase was mainly due to the interest expense for senior notes. Share-based compensation during the first quarter of fiscal year 2020 was $0.2 million, stable when compared to the same period of last year.

Net loss was $7.2 million compared to net income of $29.7 million during the same period last year. Net loss attributable to the Company's shareholders was $7.2 million compared to net income attributable to the Company's shareholders of $29.7 million in the same period of fiscal year 2019. Accordingly, basic loss per common shares was $0.15 compared to basic earnings per share of $0.62 in the same period of fiscal year 2019. Diluted loss per common share was $0.15 compared to diluted EPS of $0.56 in the same period of fiscal year 2019.

Adjusted net loss attributable to the Company's shareholders, which excludes share-based compensation expenses, was $7 million compared to adjusted net income of $29.9 million during the same period last year. Adjusted EBIT, which excludes the interest expense or income taxes and the share-based compensation expenses, was a loss of $5.8 million compared to $36.6 million during the same period last year.

We remain confident in our long-term business prospects and are committed to creating value for our shareholders through our share repurchase program. As of June 30, we have repurchased nearly 1.2 million ADS for approximately $4 million in total at an average price of $3.4 per share. I'm pleased with the progress we have made during the quarter in positioning our business for future growth. Regardless of what regulatory environment emerge, our loan assistance business will allow us to strengthen our relationship with financial institutions and creates enormous growth opportunities for us going forward.

I'd now like to turn the call back over to operator to begin the Q&A session.