May. 13 at 12:21 PM
$WRD
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First-quarter revenue came in at RMB 114.1 million, or
$16.5 million, below the consensus estimate.
Total operating expenses climbed to RMB 469.1 million from RMB 463.5 million last year, mainly driven by a 11.5% surge in R&D expenditures.
The company’s cost of revenue rose 58% to RMB 74.5 million, or
$10.8 million, which it said was in line with increases in product sales and revenue from intelligent data services.