Cian increased revenue by 44% in the third quarter

In the third quarter, revenue of Cian PLC, which develops the online real estate announcement platform CIAN, increased by 44% compared to the same quarter in 2020 and amounted to 1.56 billion rubles. Adjusted EBITDA increased by 78% to RUB 151 mln. Net loss increased by 25% to RUB 299 million.

The average number of unique visitors per month in September amounted to 18.7 million, which is 4% more than in September last year.

Cian's NASDAQ premarket price rose 2% to $15.47 a share. On November 5, the company placed American Depository Receipts (ADRs) on this site, as well as on the Moscow Exchange. The placement was at the upper end of the range - at $16 per share, and the entire company was valued at $1.1 billion.

Among other important events of the quarter, the company's message indicates the re-launch of monetization in verticals of secondary residential and commercial real estate in 12 regions (as a result, the total number of monetized regions reached 21). In April 2020, in order to support customers, the company made listing services in all cities and regions free of charge. In July last year, Cian resumed monetization of listings in Moscow, the Moscow region, St. Petersburg and the Leningrad region. In addition, in the third quarter, the company launched Cian.Transaction, a new online transaction service that allows real estate transactions to be completed online, including document verification, verification, signing, letter of credit services, and registration.