MOGU Inc.
- Open
- 1.95
- Day high
- 1.95
- Day low
- 1.95
- Prev close
- 1.88
- Volume
- 308
- Mkt cap
- $16M
- P/E (TTM)
- 54.5
- EPS (TTM)
- $0.04
- P/B
- 0.2
- P/S
- 0.9
- Yield
- —
- Per share
- —
- ▲Insiders net buying $55K over the last 3 months (4 open-market buys, 0 sales)
MOGU Inc. (MOGU) is a Consumer Cyclical company listed on NYSE. The stock is down 22% over the past year. Over the trailing 3 months, insiders filed 4 open-market buys and 0 sales (SEC Form 4).
MOGU Inc. (MOGU) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MOGU earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 7, 2025 | — | $-0.30 | — | $5M | — |
| Jul 9, 2024 | — | $-0.19 | — | $5M | -21.2% |
| Mar 1, 2024 | — | $-0.19 | — | $5M | -20.1% |
| Dec 15, 2023 | — | $-0.28 | — | $6M | -17.0% |
| Jun 1, 2023 | — | $-0.28 | — | $6M | -16.7% |
| Mar 31, 2023 | — | $-1.02 | — | $9M | — |
| Jul 15, 2022 | — | $-2.13 | — | $13M | — |
| Dec 23, 2021 | $-0.00 | $-0.60 | -12638.9% | $12M | — |
| May 29, 2020 | $-11.16 | $-1.20 | +89.2% | $17M | +694.8% |
| Feb 25, 2019 | $-0.12 | $-4.92 | -4124.3% | $56M | -22.6% |
| Dec 6, 2018 | — | $-7.41 | — | $34M | — |
| Mar 31, 2018 | — | $-3.04 | — | $30M | — |
MOGU insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 17, 2026 | Chen Qidirector | Buy | 7,281 | $1.99 |
| Jul 13, 2026 | Chen Qidirector | Buy | 1,300 | $1.99 |
| Jul 6, 2026 | Chen Qidirector | Buy | 6,419 | $1.97 |
| Jul 1, 2026 | Chen Qidirector | Buy | 15,000 | $1.68 |
Source: MOGU SEC Form 4 filings, latest Jul 17, 2026. For informational purposes only — not investment advice.
See the full MOGU insider & 13F page →MOGU Inc. company profile
Overview
MOGU Inc. (NYSE:MOGU) is a Chinese e-commerce company that operates online fashion and lifestyle platforms in the People's Republic of China. Founded in 2011 and originally known as Meili Inc., the company changed its name to MOGU Inc. in November 2018, shortly before going public in December 2018. The company is headquartered in Hangzhou, China, and has undergone significant business transformation from a traditional e-commerce platform to a specialized live video broadcasting e-commerce platform focused on fashion and lifestyle products.
Business
MOGU operates in the Chinese e-commerce industry, specifically focusing on fashion and lifestyle products through live video broadcasting commerce. The company's primary platform is the Mogujie app, along with mini-programs on WeChat (Weixin) and websites including Mogu.com, Mogujie.com, and Meilishuo.com. The core business revolves around live video broadcasting (LVB) e-commerce, which represents approximately 91% of the company's gross merchandise value (GMV). Live video broadcasting e-commerce is a format where key opinion leaders (KOLs) or influencers showcase and sell products through live video streams, allowing real-time interaction with viewers who can purchase items directly during the broadcast. This model has become particularly popular in China as it combines entertainment with shopping. The company operates as a marketplace platform connecting third-party merchants and brand partners with consumers. MOGU offers a range of fashion apparel as its primary category, complemented by beauty products, accessories, personal care items, food products, and medical beauty services. Beyond the consumer-facing marketplace, MOGU also provides business-to-business services including online marketing, commission-based sales, financing, and technology services to merchants, brand partners, and even insurance companies. Through its 2021 acquisition of Ruisha Technology (59.62% equity stake), MOGU expanded its capabilities to offer comprehensive operational services to brands across various industries, creating a more diversified revenue stream and strengthening its position in the business services segment.
Revenue model
MOGU generates revenue through multiple streams within its e-commerce ecosystem. The primary revenue source is commission fees from transactions completed on its platform, where the company takes a percentage of each sale made by third-party merchants. This commission-based model represented approximately 71% of total revenues in recent periods, generating around RMB 65.1 million in Q1 FY2022. The company also earns revenue from online marketing services provided to merchants and brand partners who want to promote their products on the platform. Additionally, MOGU offers technology services to various clients including insurance companies, and provides financing services to facilitate transactions within its ecosystem. The paying customers are primarily the merchants and brand partners who sell through MOGU's platform, paying commissions on sales and fees for marketing and technology services. End consumers purchase products but the direct revenue relationship is with the business clients. Several factors influence MOGU's profitability margins. Positive factors include the company's focus on higher-margin product categories, its ability to command premium pricing due to its specialized live broadcasting expertise, and the scalability of its technology platform. The company's loyal user base and higher Average Revenue Per User (ARPU) compared to competitors also support margin expansion. Negative factors include intensifying competition in the Chinese e-commerce market, which pressures commission rates and increases customer acquisition costs. The company's dependence on live video broadcasting also makes it vulnerable to changes in consumer preferences and regulatory shifts affecting live streaming commerce. Additionally, the need for continuous investment in technology and content creation to maintain platform attractiveness impacts profitability.
Competitive moat
MOGU's competitive moat is relatively narrow and faces significant challenges. The company's primary defensive advantage lies in its specialized expertise in live video broadcasting e-commerce and its established network of key opinion leaders (KOLs) who have built audiences on the platform. This creates some switching costs for both KOLs and their followers, as relationships and audience engagement are not easily transferable. The company also benefits from its loyal user base and higher Average Revenue Per User (ARPU) compared to some competitors, indicating stronger customer engagement and purchasing power. MOGU's focus on fashion and lifestyle products for younger demographics provides some niche positioning within the broader Chinese e-commerce market. However, this moat is not particularly strong or durable. The live video broadcasting e-commerce format has been widely adopted by much larger competitors including Alibaba's Taobao Live, ByteDance's Douyin (TikTok), and Tencent-backed platforms. These competitors have significantly more resources, broader user bases, and stronger ecosystem integration. MOGU faces substantial competitive pressure from these well-funded giants who can offer better terms to merchants, invest more heavily in technology and content, and provide more comprehensive services. The company's small scale relative to these competitors limits its bargaining power with suppliers and its ability to invest in platform improvements. The commoditized nature of e-commerce technology and the relative ease of replicating live streaming commerce features further weaken MOGU's defensive position. The primary disruption risk comes from continued market share loss to larger platforms and potential regulatory changes affecting live streaming commerce in China. Without significant differentiation or scale advantages, MOGU's moat appears insufficient to protect against well-resourced competitors.
Risks & safety
MOGU's margin of safety appears limited based on its financial position and operating performance. **Overall Assessment**: The company faces significant solvency concerns with persistent losses and declining cash position. **Cash and Liquidity**: - Cash and short-term investments: $12.0 million (Q2 FY2025) - Negative operating cash flow: -$2.1 million (Q2 FY2025) - Free cash flow consistently negative across recent periods - Current ratio of 1.54 indicates adequate short-term liquidity but declining cash reserves **Debt and Solvency**: - Very low debt-to-equity ratio of 0.14%, indicating minimal debt burden - However, persistent operating losses create ongoing cash burn - Net losses of $1.7 million per quarter with negative EBITDA **Valuation Metrics**: - Extremely low price-to-book ratio of 0.0009 suggests deep value territory - Graham net-net working capital significantly exceeds market cap - Negative P/E ratio due to losses makes traditional valuation difficult - Enterprise value metrics distorted by negative EBITDA **Other Considerations**: - Revenue declining from $50M (FY2022) to $22M (FY2024) - Market cap of only $58 million creates high volatility risk - Chinese regulatory environment adds geopolitical uncertainty
Recent development
Over the past few years, MOGU has undergone a significant strategic transformation from a traditional e-commerce marketplace to a specialized live video broadcasting e-commerce platform. This pivot was completed by 2021, with live video broadcasting now representing over 90% of the company's gross merchandise value. The company's most significant strategic move was the acquisition of Ruisha Technology in 2021, purchasing a 59.62% equity stake. This acquisition expanded MOGU's capabilities beyond consumer e-commerce into business-to-business services, providing comprehensive operational services to brands across various industries. The move was designed to diversify revenue streams and create additional income sources beyond the traditional commission-based model. MOGU has focused on enhancing its supply chain quality and targeting younger customers with new fashion brands. The company has worked to integrate more key opinion leaders (KOLs) across different product categories and expand into new high-margin segments. Management has also implemented strategies to optimize customer acquisition costs while maintaining higher Average Revenue Per User compared to competitors. In response to financial pressures, the company authorized a $10 million share repurchase program to support its stock price and demonstrate confidence in its business model. However, the company has faced ongoing challenges with declining revenues, falling from approximately $50 million in FY2022 to $22 million in FY2024, while continuing to generate operating losses and negative cash flows. The strategic focus has shifted toward leveraging its specialized live broadcasting expertise and loyal user base as competitive advantages, while expanding cross-platform promotional activities to attract new users and drive growth in the increasingly competitive Chinese e-commerce market.
MOGU company profile · for informational purposes only — not investment advice.
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