Baijiayun's first financial report after listing: revenue of 68.6 million US dollars, an increase of 65.5% over the same period last year.
On the morning of January 21, Baijiayun, a listed company of audio and video SaaS, released its first financial report after its listing as of June 30, 2022. Thanks to solid business growth, Baijiayun's revenue in the first half of 2022 reached $68.6 million, up 65.5 per cent from a year earlier, according to the results.
The financial report shows that revenue from many business sectors of Baijiayun has achieved sustained growth in the three years to June 30, 2022. Of this total, revenue from video system solutions was US $25.13 million, up 43.7% from the same period last year; revenue from video cloud products and software was US $12.2 million, up 359% from the same period last year. The company's core video SaaS / PaaS business had revenue of $31.3 million over the past year, up 46.8 per cent from a year earlier.
Li Gangjiang, chairman of Baijiayun, said: "I am glad that Baijiayun has been able to go public only five years after its establishment. In the past fiscal year, domestic black swan incidents occurred frequently, which continued to challenge the business environment. But even in such an uncertain environment, we still maintain a relatively good performance.
According to public information, Baijiayun, founded in 2017, is a ToB video cloud technology service provider for enterprises to solve the application field of video technology, mainly through "video SaaS / PaaS business, video cloud products and software, and video system solutions". The products are mainly used in education, corporate training, marketing, exhibition, recruitment, annual meetings and other business scenarios.
At the end of 2022, Baijiayun announced that it was working with Fuwei film Fuwei Films (Holdings) Co.,Ltd. The merger and listing transaction was completed and officially listed on Nasdaq on December 26, 2022.
It is understood that the core video SaaS / PaaS business mainly includes enterprise direct / on-demand, dual-division classroom, audio and video PaaS services, marketing CRM and other standardized software products and services.
