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Cian Reports Revenue Increase of 44% in Q3 2021

November 25, 2021, 12:04 (UTC+3)|

Cian PLC, the developer of an online real estate ad platform Cian, reported revenue growth to $20.7 million (1.56 billion rubles) in the third quarter of 2021, an increase of 44% year-on-year.

Net loss increased to $3.9 million (299 million rubles), while last year's figure was $3.1 million (240 million rubles). Revenues for Cian's core business, which includes online advertising and ad placement, reached $19.5 million (1.47 billion rubles), up 41% year-on-year. Operating expenses in the third quarter increased by 41% to $24.4 million (1.84 billion).

According to the annual forecast, Cian expects revenue growth in the range of 45 to 48% compared to last year, that is, up to $77-78.3 million (5.8-5.9 billion rubles).

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