DUBAI, UAE, Nov. 11,
2024 /PRNewswire/ -- Yalla Group Limited ("Yalla" or
the "Company") (NYSE: YALA), the largest Middle East and North Africa (MENA)-based online social
networking and gaming company, today announced its unaudited
financial results for the third quarter ended September 30, 2024.
Third Quarter 2024 Financial and Operating
Highlights
- Revenues were US$88.9
million in the third quarter of 2024, representing an
increase of 4.4% from the third quarter of 2023.
- Revenues generated from chatting services in the third quarter
of 2024 were US$58.5 million.
- Revenues generated from games services in the third quarter of
2024 were US$30.2 million.
- Net income was US$39.2
million in the third quarter of 2024, an 11.2% increase from
US$35.2 million in the third quarter
of 2023. Net margin[1]
was 44.1% in the third quarter of 2024.
- Non-GAAP net income[2] was US$42.6 million in the third quarter of 2024, an
11.3% increase from US$38.3 million
in the third quarter of 2023. Non-GAAP net margin[3] was 47.9% in the third quarter of
2024.
- Average MAUs[4] increased by 14.5% to 40.2
million in the third quarter of 2024 from 35.1 million in the third
quarter of 2023.
- The number of paying users[5] on our platform increased by
12.0% to 12.6 million in the third quarter of 2024 from 11.2
million in the third quarter of 2023.
|
[1] Net margin is
net income as a percentage of revenues.
[2] Non-GAAP net
income represents net income excluding share-based compensation.
Non-GAAP net income is a non-GAAP financial measure. See the
sections entitled "Non-GAAP Financial Measures" and
"Reconciliations of GAAP and Non-GAAP Results" for more information
about the non-GAAP measures referred to in this press
release.
[3] Non-GAAP
net margin is non-GAAP net income as a percentage of
revenues.
[4] "Average MAUs"
refers to the average monthly active users in a given period
calculated by dividing (i) the sum of active users for each month
of such period, by (ii) the number of months in such period.
"Active users" refers to registered users who accessed any of our
main mobile applications at least once during a given period.
Yalla, Yalla Ludo, Yalla Parchis, YallaChat, 101 Okey Yalla and
WeMuslim have been our main mobile applications for the
periods presented herein; and Ludo Royal has been our main mobile
application since the third quarter of 2023.
[5] "Paying users"
refers to registered users who played a game or purchased our
virtual items or upgrade services using virtual currencies on our
main mobile applications at least once in a given period, except
for users who received all of their virtual currencies directly or
indirectly from us for free; YallaChat does not involve the
usage of virtual currencies, and the metrics of "paying users" and
"ARPPU" do not reflect user activities on YallaChat. "Registered
users" refers to users who have registered accounts on our main
mobile applications as of a given time; a registered user is not
necessarily a unique user, as an individual may register multiple
accounts on our main mobile applications.
|
|
Key Operating
Data
|
For the three
months ended
|
|
|
September 30, 2023
|
|
|
September 30, 2024
|
|
|
|
|
|
|
|
|
Average MAUs (in
thousands)
|
|
35,096
|
|
|
|
40,176
|
|
|
|
|
|
|
|
|
Paying users (in
thousands)
|
|
11,236
|
|
|
|
12,582
|
|
"We are thrilled to report robust third quarter results, marked
by record-setting revenues and enhanced profitability," said Mr.
Yang Tao, Founder, Chairman and CEO
of Yalla. "Our revenues rose to US$88.9
million, beating the upper end of our guidance, while net
income increased by 11.2% year-over-year to US$39.2 million. We also drove a 14.5%
year-over-year increase in average MAUs to 40.2 million and a 12%
year-over-year increase in our group's paying users to 12.6
million. This impressive performance was fueled by our dedication
to enhancing localization with new gamification features and
targeted gaming events, as well as our ongoing efforts to refine
operational processes, optimize user acquisition and further
develop our product ecosystem."
"Furthermore, we continued to explore and invest in Yalla Game,
with a strategic focus on new game development. We are on track to
test our self-developed mid-core games by year-end. We are
confident that our experience in casual games and commitment to
user experience and product excellence will enable us to deliver
high-quality games and grow our presence in this thriving market.
As MENA's leader in online social networking and gaming, we will
continue providing high-quality products and services to our users
while playing an active role in the region's digital
transformation." Mr. Yang concluded.
Ms. Karen Hu, CFO of Yalla,
commented, "During the third quarter of 2024, strong execution of
our high-quality growth strategies led to record-high revenues. We
also continued to boost efficiency and operating leverage. As a
result, we enhanced our profitability with expanded net margin of
44.1%, and excluding share-based compensation, non-GAAP net margin
of 47.9%. Our fundamentals remain solid, strongly supporting our
current business operations as well as our investments in future
development. Looking ahead, we will continue to pursue healthy,
sustainable growth, creating long-term value for our
stakeholders."
Third Quarter 2024 Financial Results
Revenues
Our revenues were US$88.9 million
in the third quarter of 2024, a 4.4% increase from US$85.2 million in the third quarter of 2023. The
increase was primarily driven by our broadening user base and
enhanced monetization capability. Our average MAUs increased by
14.5% to 40.2 million in the third quarter of 2024 from 35.1
million in the third quarter of 2023. Our solid revenue growth was
also partially attributable to the significant increase in the
number of paying users, which grew to 12.6 million in the third
quarter of 2024 from 11.2 million in the third quarter of
2023.
In the third quarter of 2024, our revenues generated from
chatting services were US$58.5
million, and revenues from games services were US$30.2 million.
Costs and expenses
Our total costs and expenses were US$56.4
million in the third quarter of 2024, a 6.9 % increase from
US$52.8 million in the third
quarter of 2023.
Our cost of revenues was US$31.8
million in the third quarter of 2024, a 14.6 % increase from
US$27.8 million in the same period
last year, primarily due to higher commission fees paid to
third-party payment platforms as a result of increasing revenues
generated. Cost of revenues as a percentage of our total revenues
increased to 35.8% in the third quarter of 2024 from 32.6% in the
third quarter of 2023.
Our selling and marketing expenses were US$7.4 million in the third quarter of 2024, a
34.9% decrease from US$11.3 million
in the same period last year, primarily driven by our more
disciplined advertising and promotion approach. Selling and
marketing expenses as a percentage of our total revenues decreased
to 8.3% in the third quarter of 2024 from 13.3% in the third
quarter of 2023.
Our general and administrative expenses were US$10.1 million in the third quarter of 2024, a
38.3% increase from US$7.3 million in
the same period last year, primarily due to an increase in
incentive compensation. General and administrative expenses as a
percentage of our total revenues increased to 11.4% in the third
quarter of 2024 from 8.6% in the third quarter of 2023.
Our technology and product development expenses were
US$7.1 million in the third quarter
of 2024, an 11.1% increase from US$6.4
million in the same period of last year, primarily due to an
increase in salaries and benefits for our technology and product
development staff. Technology and product development expenses as a
percentage of our total revenues increased to 8.0% in the third
quarter of 2024 from 7.5% in the third quarter of 2023.
Operating income
Operating income remained relatively stable at US$32.5 million in the third quarter of 2024.
Non-GAAP operating income[6]
Non-GAAP operating income in the third quarter of 2024 was
US$35.9 million, a 1.4% increase from
US$35.4 million in the same period
last year.
Interest income
Interest income was US$7.8 million
in the third quarter of 2024, compared with US$5.6 million in the third quarter of 2023,
primarily due to an increase in interest rates applicable to the
Company's bank deposits.
Income tax expense
Income tax expense was US$1.29
million in the third quarter of 2024, compared with
US$0.71 million in the third
quarter of 2023. The increase was primarily due to the introduction
and implementation of the UAE Corporate Tax Law, which is effective
for the financial years starting on or after June 1, 2023.
Net income
As a result of the foregoing, our net income was US$39.2 million in the third quarter of 2024, an
11.2% increase from US$35.2 million
in the third quarter of 2023.
Non-GAAP net income
Non-GAAP net income in the third quarter of 2024 was
US$42.6 million, an 11.3% increase
from US$38.3 million in the same
period last year.
Earnings per ordinary share
Basic and diluted earnings per ordinary share were US$0.25 and US$0.22, respectively, in the third quarter of
2024, while basic and diluted earnings per ordinary share were
US$0.23 and US$0.20, respectively, in the same period of
2023.
Non-GAAP earnings per ordinary
share[7]
Non-GAAP basic and diluted earnings per ordinary share were
US$0.27 and US$0.24, respectively, in the third quarter of
2024, compared with US$0.24 and
US$0.21, respectively, in the same
period of 2023.
Cash and cash equivalents, restricted cash, term deposits
and short-term investments
As of September 30, 2024, we had
cash and cash equivalents, restricted cash, term deposits and
short-term investments of US$570.1
million, compared with US$535.7
million as of December 31,
2023.
Share Repurchase Program
Pursuant to the Company's share repurchase program beginning on
May 21, 2021, with an extended
expiration date of May 21, 2025, in
the third quarter of 2024, the Company repurchased 1,736,383
American depositary shares ("ADSs"), representing 1,736,383 Class A
ordinary shares from the open market with cash for an aggregate
amount of approximately US$7.0 million. Cumulatively, the
Company had completed cash repurchases in the open market of
5,709,259 ADSs, representing 5,709,259 Class A ordinary shares, for
an aggregate amount of approximately US$42.5 million, as of September 30,
2024. The aggregate value of ADSs and/or Class A ordinary shares
that remain available for purchase under the current share
repurchase program was US$107.5
million as of September 30,
2024.
Outlook
For the fourth quarter of 2024, Yalla currently expects
revenues to be between US$77.0 million and US$84.0 million.
The above outlook is based on current market conditions and
reflects the Company management's current and preliminary estimates
of market and operating conditions and customer demand, which are
all subject to change.
|
[6] Non-GAAP
operating income represents operating income excluding share-based
compensation. Non-GAAP operating income is a non-GAAP financial
measure. See the sections entitled "Non-GAAP Financial Measures"
and "Reconciliations of GAAP and Non-GAAP Results" for more
information about the non-GAAP measures referred to in this press
release.
[7] Non-GAAP
earnings per ordinary share is non-GAAP net income attributable to
Yalla Group Limited's shareholders, divided by weighted average
number of basic and diluted shares outstanding. Non-GAAP net income
attributable to Yalla Group Limited's shareholders represents net
income attributable to Yalla Group Limited's shareholders,
excluding share-based compensation. Non-GAAP earnings per ordinary
share and non-GAAP net income attributable to Yalla Group Limited's
shareholders are non-GAAP financial measures. See the sections
entitled "Non-GAAP Financial Measures" and "Reconciliations of GAAP
and Non-GAAP Results" for more information about the non-GAAP
measures referred to in this press release.
|
Conference Call
The Company's management will host an earnings conference call
on Monday, November 11, 2024, at 8:00
PM U.S. Eastern Time, Tuesday, November 12, 2024, at
5:00 AM Dubai Time, or Tuesday,
November 12, 2024, at 9:00 AM
Beijing/Hong Kong time.
Dial-in details for the earnings conference call are as
follows:
|
United States Toll
Free:
|
+1-888-317-6003
|
|
International:
|
+1-412-317-6061
|
|
United Arab Emirates
Toll Free:
|
80-003-570-3589
|
|
Mainland China Toll
Free:
|
400-120-6115
|
|
Hong Kong, China Toll
Free:
|
800-963-976
|
|
Access
Code:
|
5810867
|
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website
at https://ir.yalla.com.
A replay of the conference call will be accessible until
November 18, 2024, by dialing the
following telephone numbers:
|
United States Toll
Free:
|
+1-877-344-7529
|
|
International:
|
+1-412-317-0088
|
|
Access Code:
|
5806791
|
Non-GAAP Financial Measures
To supplement the financial measures prepared in accordance with
generally accepted accounting principles in the United States, or GAAP, this press release
presents non-GAAP financial measures, namely non-GAAP operating
income, non-GAAP net income, non-GAAP net margin and non-GAAP basic
and diluted earnings per ordinary share, as supplemental measures
to review and assess the Company's operating performance. The
presentation of the non-GAAP financial measures is not intended to
be considered in isolation or as a substitute for the financial
information prepared and presented in accordance with U.S. GAAP. We
define non-GAAP operating income as operating income excluding
share-based compensation. We define non-GAAP net income as net
income excluding share-based compensation. We define non-GAAP net
margin as non-GAAP net income as a percentage of revenues. We
define non-GAAP net income attributable to Yalla Group Limited's
shareholders as net income attributable to Yalla Group Limited's
shareholders, excluding share-based compensation. We define
non-GAAP earnings per ordinary share as non-GAAP net income
attributable to Yalla Group Limited's shareholders, divided by the
weighted average number of basic and diluted shares
outstanding.
By excluding the impact of share-based compensation expenses,
which are non-cash charges, the Company believes that the non-GAAP
financial measures help identify underlying trends in its business
and enhance the overall understanding of the Company's past
performance and future prospects. Investors can better understand
the Company's operating and financial performance, compare business
trends among different reporting periods on a consistent basis and
assess its core operating results, as they exclude share-based
compensation expenses, which are not expected to result in cash
payments. The Company also believes that the non-GAAP financial
measures allow for greater visibility with respect to key metrics
used by the Company's management in its financial and operational
decision-making.
The non-GAAP financial measure is not defined under U.S. GAAP
and is not presented in accordance with U.S. GAAP. The non-GAAP
financial measure has limitations as analytical tools. One of the
key limitations of using the non-GAAP financial measures is that
they do not reflect all items of income and expense that affect the
Company's operations. Share-based compensation has been and may
continue to be incurred in the Company's business and is not
reflected in the presentation of non-GAAP financial measures.
Further, the non-GAAP financial measure may differ from the
non-GAAP information used by other companies, including peer
companies, and therefore their comparability may be limited.
The Company compensates for these limitations by providing the
relevant disclosure of its non-GAAP financial measures in the
reconciliations to the nearest U.S. GAAP performance measures, all
of which should be considered when evaluating its performance. The
Company encourages investors and others to review its financial
information in its entirety and not rely on a single financial
measure.
Reconciliations of GAAP and non-GAAP results are set forth at
the end of this press release.
About Yalla Group Limited
Yalla Group Limited is the largest MENA-based online social
networking and gaming company, in terms of revenues in 2022.
The Company operates two flagship mobile applications, Yalla, a
voice-centric group chat platform, and Yalla Ludo, a casual gaming
application featuring online versions of board games, popular in
MENA, with in-game voice chat and localized Majlis functionality.
Building on the success of Yalla and Yalla Ludo, the Company
continues to add engaging new content, creating a
regionally-focused, integrated ecosystem dedicated to fulfilling
MENA users' evolving online social networking and gaming needs.
Through its holding subsidiary, Yalla Game Limited, the Company has
expanded its capabilities in mid-core and hard-core games in the
MENA region, leveraging its local expertise to bring innovative
gaming content to its users. In addition, the growing Yalla
ecosystem includes YallaChat, an IM product tailored for Arabic
users, WeMuslim, a product that supports Arabic users in observing
their customs, and casual games such as Yalla Baloot and 101 Okey
Yalla, developed to sustain vibrant local gaming communities in
MENA. Yalla is also actively exploring outside of MENA with Yalla
Parchis, a Ludo game designed for the South American markets.
Yalla's mobile applications deliver a seamless experience that
fosters a sense of loyalty and belonging, establishing highly
devoted and engaged user communities through close attention to
detail and localized appeal that profoundly resonates with
users.
For more information, please visit: https://ir.yalla.com.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements pursuant to the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "aims,"
"future," "intends," "plans," "believes," "estimates," "likely to"
and similar statements. Statements that are not historical facts,
including statements about Yalla Group Limited's beliefs, plans and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Further
information regarding these and other risks is included in Yalla
Group Limited's filings with the SEC. All information provided in
this press release is as of the date of this press release, and
Yalla Group Limited does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please contact:
Yalla Group Limited
Investor Relations
Kerry Gao - IR Director
Tel: +86-571-8980-7962
Email: ir@yalla.com
Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
Email: yalla@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: yalla@tpg-ir.com
|
YALLA GROUP
LIMITED
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
|
|
|
|
|
|
As
of
|
|
|
|
December 31,
2023
|
|
|
September 30,
2024
|
|
|
|
US$
|
|
|
US$
|
|
|
ASSETS
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
311,883,463
|
|
|
|
349,117,329
|
|
|
Restricted
cash
|
|
|
423,567
|
|
|
|
428,119
|
|
|
Term
deposits
|
|
|
213,105,501
|
|
|
|
212,514,896
|
|
|
Short-term
investments
|
|
|
10,282,329
|
|
|
|
8,000,000
|
|
|
Amounts due from a
related party
|
|
|
109,507
|
|
|
|
—
|
|
|
Prepayments and other
current assets
|
|
|
33,340,602
|
|
|
|
41,563,630
|
|
|
Total current
assets
|
|
|
569,144,969
|
|
|
|
611,623,974
|
|
|
Non-current
assets
|
|
|
|
|
|
|
|
Property and equipment,
net
|
|
|
1,583,604
|
|
|
|
1,290,519
|
|
|
Intangible asset,
net
|
|
|
1,133,715
|
|
|
|
956,191
|
|
|
Operating lease
right-of-use assets
|
|
|
2,382,026
|
|
|
|
1,595,166
|
|
|
Long-term
investments
|
|
|
51,692,218
|
|
|
|
135,684,579
|
|
|
Other assets
|
|
|
13,015,729
|
|
|
|
13,155,593
|
|
|
Total non-current
assets
|
|
|
69,807,292
|
|
|
|
152,682,048
|
|
|
Total
assets
|
|
|
638,952,261
|
|
|
|
764,306,022
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
Accounts
payable
|
|
|
928,055
|
|
|
|
789,509
|
|
|
Deferred
revenue
|
|
|
46,558,571
|
|
|
|
58,839,261
|
|
|
Operating lease
liabilities, current
|
|
|
1,153,691
|
|
|
|
1,034,753
|
|
|
Amounts due to a
related party
|
|
|
—
|
|
|
|
98,113
|
|
|
Accrued expenses and
other current liabilities
|
|
|
26,694,999
|
|
|
|
33,737,519
|
|
|
Total current
liabilities
|
|
|
75,335,316
|
|
|
|
94,499,155
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
|
Operating lease
liabilities, non-current
|
|
|
949,970
|
|
|
|
—
|
|
|
Total non-current
liabilities
|
|
|
949,970
|
|
|
|
—
|
|
|
Total
liabilities
|
|
|
76,285,286
|
|
|
|
94,499,155
|
|
|
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
|
|
Shareholders' equity
of Yalla Group Limited
|
|
|
|
|
|
|
|
Class A Ordinary
Shares
|
|
|
13,778
|
|
|
|
13,970
|
|
|
Class B Ordinary
Shares
|
|
|
2,473
|
|
|
|
2,473
|
|
|
Additional paid-in
capital
|
|
|
313,306,523
|
|
|
|
325,394,525
|
|
|
Treasury
stock
|
|
|
(35,527,305)
|
|
|
|
(42,517,154)
|
|
|
Accumulated other
comprehensive loss
|
|
|
(2,341,740)
|
|
|
|
(1,922,789)
|
|
|
Retained
earnings
|
|
|
292,223,525
|
|
|
|
395,316,281
|
|
|
Total shareholders'
equity of Yalla Group Limited
|
|
|
567,677,254
|
|
|
|
676,287,306
|
|
|
Non-controlling
interests
|
|
|
(5,010,279)
|
|
|
|
(6,480,439)
|
|
|
Total
equity
|
|
|
562,666,975
|
|
|
|
669,806,867
|
|
|
Total liabilities
and equity
|
|
|
638,952,261
|
|
|
|
764,306,022
|
|
|
YALLA GROUP
LIMITED
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS
OF
OPERATIONS
|
|
|
|
|
|
Three Months
Ended
|
|
|
Nine Months
Ended
|
|
|
|
September 30,
2023
|
|
|
June 30,
2024
|
|
|
September 30,
2024
|
|
|
September 30,
2023
|
|
|
September 30,
2024
|
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
Revenues
|
|
|
85,187,360
|
|
|
|
81,197,482
|
|
|
|
88,922,031
|
|
|
|
237,952,336
|
|
|
|
248,848,091
|
|
|
Costs and
expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
|
(27,772,226)
|
|
|
|
(29,025,673)
|
|
|
|
(31,830,126)
|
|
|
|
(83,955,518)
|
|
|
|
(89,427,060)
|
|
|
Selling and marketing
expenses
|
|
|
(11,292,732)
|
|
|
|
(8,491,520)
|
|
|
|
(7,352,820)
|
|
|
|
(35,026,197)
|
|
|
|
(23,944,276)
|
|
|
General and
administrative expenses
|
|
|
(7,325,451)
|
|
|
|
(7,576,904)
|
|
|
|
(10,133,394)
|
|
|
|
(25,508,418)
|
|
|
|
(24,358,190)
|
|
|
Technology and product
development expenses
|
|
|
(6,396,426)
|
|
|
|
(6,481,616)
|
|
|
|
(7,108,024)
|
|
|
|
(20,393,692)
|
|
|
|
(19,851,894)
|
|
|
Total costs and
expenses
|
|
|
(52,786,835)
|
|
|
|
(51,575,713)
|
|
|
|
(56,424,364)
|
|
|
|
(164,883,825)
|
|
|
|
(157,581,420)
|
|
|
Operating
income
|
|
|
32,400,525
|
|
|
|
29,621,769
|
|
|
|
32,497,667
|
|
|
|
73,068,511
|
|
|
|
91,266,671
|
|
|
Interest
income
|
|
|
5,612,861
|
|
|
|
7,097,975
|
|
|
|
7,829,223
|
|
|
|
13,354,425
|
|
|
|
21,572,082
|
|
|
Government
grants
|
|
|
228
|
|
|
|
365,031
|
|
|
|
7,603
|
|
|
|
182,447
|
|
|
|
439,966
|
|
|
Investment income
(loss)
|
|
|
435,545
|
|
|
|
60,233
|
|
|
|
133,606
|
|
|
|
1,456,742
|
|
|
|
(1,094,288)
|
|
|
Impairment loss of
investments
|
|
|
(2,509,480)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(2,509,480)
|
|
|
|
—
|
|
|
Income before income
taxes
|
|
|
35,939,679
|
|
|
|
37,145,008
|
|
|
|
40,468,099
|
|
|
|
85,552,645
|
|
|
|
112,184,431
|
|
|
Income tax
expense
|
|
|
(708,673)
|
|
|
|
(5,793,582)
|
|
|
|
(1,287,156)
|
|
|
|
(2,146,180)
|
|
|
|
(10,563,946)
|
|
|
Net
income
|
|
|
35,231,006
|
|
|
|
31,351,426
|
|
|
|
39,180,943
|
|
|
|
83,406,465
|
|
|
|
101,620,485
|
|
|
Net loss attributable
to non-controlling interests
|
|
|
994,099
|
|
|
|
292,428
|
|
|
|
673,856
|
|
|
|
2,750,850
|
|
|
|
1,472,271
|
|
|
Net income
attributable to Yalla Group
Limited's shareholders
|
|
|
36,225,105
|
|
|
|
31,643,854
|
|
|
|
39,854,799
|
|
|
|
86,157,315
|
|
|
|
103,092,756
|
|
|
Earnings per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
0.23
|
|
|
|
0.20
|
|
|
|
0.25
|
|
|
|
0.54
|
|
|
|
0.64
|
|
|
——Diluted
|
|
|
0.20
|
|
|
|
0.17
|
|
|
|
0.22
|
|
|
|
0.47
|
|
|
|
0.56
|
|
|
Weighted average
number of shares
outstanding used in computing earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
160,554,831
|
|
|
|
160,721,827
|
|
|
|
160,944,036
|
|
|
|
159,134,347
|
|
|
|
160,681,773
|
|
|
——Diluted
|
|
|
183,111,650
|
|
|
|
183,535,654
|
|
|
|
183,354,110
|
|
|
|
181,460,639
|
|
|
|
183,383,311
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation was allocated in cost of revenues, selling and
marketing expenses, general and administrative expenses
and
technology and product
development expenses as follows:
|
|
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
|
|
September 30,
2023
|
|
|
June 30,
2024
|
|
|
September 30,
2024
|
|
|
September 30,
2023
|
|
|
September 30,
2024
|
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
Cost of
revenues
|
|
|
627,760
|
|
|
|
1,867,863
|
|
|
|
1,867,294
|
|
|
|
2,581,522
|
|
|
|
5,637,874
|
|
|
Selling and marketing
expenses
|
|
|
532,001
|
|
|
|
681,035
|
|
|
|
261,825
|
|
|
|
2,517,707
|
|
|
|
1,642,975
|
|
|
General and
administrative expenses
|
|
|
1,633,262
|
|
|
|
1,321,200
|
|
|
|
1,114,753
|
|
|
|
8,121,521
|
|
|
|
3,769,267
|
|
|
Technology and product
development expenses
|
|
|
255,677
|
|
|
|
19,198
|
|
|
|
187,205
|
|
|
|
920,127
|
|
|
|
469,134
|
|
|
Total share-based compensation
expenses
|
|
|
3,048,700
|
|
|
|
3,889,296
|
|
|
|
3,431,077
|
|
|
|
14,140,877
|
|
|
|
11,519,250
|
|
|
YALLA GROUP
LIMITED
RECONCILIATIONS OF
GAAP AND NON-GAAP RESULTS
|
|
|
|
Three Months
Ended
|
|
|
Nine Months
Ended
|
|
|
|
September 30,
2023
|
|
|
June 30,
2024
|
|
|
September 30,
2024
|
|
|
September 30,
2023
|
|
|
September 30,
2024
|
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
Operating
income
|
|
|
32,400,525
|
|
|
|
29,621,769
|
|
|
|
32,497,667
|
|
|
|
73,068,511
|
|
|
|
91,266,671
|
|
|
Share-based
compensation expenses
|
|
|
3,048,700
|
|
|
|
3,889,296
|
|
|
|
3,431,077
|
|
|
|
14,140,877
|
|
|
|
11,519,250
|
|
|
Non-GAAP operating
income
|
|
|
35,449,225
|
|
|
|
33,511,065
|
|
|
|
35,928,744
|
|
|
|
87,209,388
|
|
|
|
102,785,921
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
35,231,006
|
|
|
|
31,351,426
|
|
|
|
39,180,943
|
|
|
|
83,406,465
|
|
|
|
101,620,485
|
|
|
Share-based
compensation expenses,
net of tax effect of nil
|
|
|
3,048,700
|
|
|
|
3,889,296
|
|
|
|
3,431,077
|
|
|
|
14,140,877
|
|
|
|
11,519,250
|
|
|
Non-GAAP net
income
|
|
|
38,279,706
|
|
|
|
35,240,722
|
|
|
|
42,612,020
|
|
|
|
97,547,342
|
|
|
|
113,139,735
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable
to Yalla
Group Limited's shareholders
|
|
|
36,225,105
|
|
|
|
31,643,854
|
|
|
|
39,854,799
|
|
|
|
86,157,315
|
|
|
|
103,092,756
|
|
|
Share-based
compensation expenses,
net of tax effect of nil
|
|
|
3,048,700
|
|
|
|
3,889,296
|
|
|
|
3,431,077
|
|
|
|
14,140,877
|
|
|
|
11,519,250
|
|
|
Non-GAAP net income
attributable to
Yalla Group Limited's shareholders
|
|
|
39,273,805
|
|
|
|
35,533,150
|
|
|
|
43,285,876
|
|
|
|
100,298,192
|
|
|
|
114,612,006
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
0.24
|
|
|
|
0.22
|
|
|
|
0.27
|
|
|
|
0.63
|
|
|
|
0.71
|
|
|
——Diluted
|
|
|
0.21
|
|
|
|
0.19
|
|
|
|
0.24
|
|
|
|
0.55
|
|
|
|
0.62
|
|
|
Weighted average
number of shares
outstanding used in computing earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
160,554,831
|
|
|
|
160,721,827
|
|
|
|
160,944,036
|
|
|
|
159,134,347
|
|
|
|
160,681,773
|
|
|
——Diluted
|
|
|
183,111,650
|
|
|
|
183,535,654
|
|
|
|
183,354,110
|
|
|
|
181,460,639
|
|
|
|
183,383,311
|
|
View original
content:https://www.prnewswire.com/news-releases/yalla-group-limited-announces-unaudited-third-quarter-2024-financial-results-302301100.html
SOURCE Yalla Group Limited
