DUBAI, UAE, March 10,
2025 /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 fourth quarter and full year ended
December 31, 2024.
Fourth Quarter 2024 Financial and Operating
Highlights
- Revenues were US$90.8
million in the fourth quarter of 2024, representing an
increase of 12.2% from the fourth quarter of 2023.
- Revenues generated from chatting services in the fourth quarter
of 2024 were US$59.8 million.
- Revenues generated from games services in the fourth quarter of
2024 were US$30.8 million.
- Net income was US$32.5
million in the fourth quarter of 2024, a 9.7% increase from
US$29.7 million in the fourth quarter
of 2023. Net margin[1] was 35.8% in the
fourth quarter of 2024.
- Non-GAAP net income[2] was US$35.7 million in the fourth quarter of 2024, a
6.8% increase from US$33.4 million in
the fourth quarter of 2023. Non-GAAP net margin[3] was
39.3% in the fourth quarter of 2024.
- Average MAUs[4] increased by 14.4% to 41.4
million in the fourth quarter of 2024 from 36.2 million in the
fourth quarter of 2023.
- The number of paying users[5] on our platform
increased by 3.2% to 12.3 million in the fourth quarter of 2024
from 11.9 million in the fourth quarter of 2023.
|
Key Operating
Data
|
For the three months
ended
|
|
|
December 31,
2023
|
|
|
December 31,
2024
|
|
|
|
|
|
|
|
|
Average MAUs (in
thousands)
|
|
36,237
|
|
|
|
41,445
|
|
|
|
|
|
|
|
|
Paying users (in
thousands)
|
|
11,930
|
|
|
|
12,309
|
|
|
[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,
WeMuslim and Ludo Royal have been our main mobile applications
for the periods presented herein.
|
|
[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.
|
Full Year 2024 Financial
Highlights
- Revenues were US$339.7
million in 2024, representing an increase of 6.5% from 2023.
- Revenues generated from chatting services in 2024 were
US$225.4 million.
- Revenues generated from games services in 2024 were
US$113.6 million.
- Net income was US$134.2
million in 2024, an 18.7% increase from US$113.1 million in 2023. Net margin was 39.5% in
2024.
- Non-GAAP net income was US$148.8
million in 2024, a 13.6% increase from US$131.0 million in 2023. Non-GAAP net margin was
43.8% in 2024.
"We delivered robust 2024 results thanks to our unwavering
commitment to driving high-quality growth in a rapidly evolving
market. Our revenues rose to US$90.8 million for the fourth quarter,
reaching a new record high for the second consecutive quarter and
once again beating the upper end of our guidance, while bringing
our annual revenue to US$339.7
million," said Mr. Yang Tao,
Founder, Chairman and CEO of Yalla. "We also achieved a 14.4%
year-over-year increase in average MAUs to 41.4 million and a
3.2% year-over-year increase in our group's paying users to
12.3 million in the fourth quarter of 2024 by consistently
enhancing our user experience and boosting user engagement with
content tailored to local culture. Additionally, we have made
significant strides in improving our efficiency, evidenced by a
26.0% year-over-year increase in operating income for full year
2024.
"Our ongoing efforts to upgrade our flagship applications and
sustain their enduring popularity generated strong results this
year. Meanwhile, we continued to invest in Yalla Game and now have
two self-developed mid-core games in the testing phase. With our
expertise in casual gaming and dedication to gaming innovation and
product excellence, we are well positioned to deliver high-quality
games and expand our presence in this thriving market. Furthermore,
we continued to develop AI algorithm models tailored to local
culture, enabling us to serve MENA users more efficiently and
providing us with a competitive edge in the region. 2025 marks Yalla Group's 10th anniversary, a
milestone year in which we anticipate seeing the results of our
long-term product development efforts. We are excited to embrace
new market opportunities and continue driving digital
transformation across MENA," Mr. Yang concluded.
Ms. Karen Hu, CFO of Yalla,
commented, "We concluded 2024 with a robust fourth quarter, marked
by another record high in revenues and accelerated year-over-year
growth of 12.2%, underscoring the ongoing success of our user
acquisition and monetization strategies. We also remained focused
on enhancing our operational efficiency and optimizing costs,
driving significant improvement in our overall operating
profitability. Our operating income increased by 29.4%
year-over-year to US$30.1 million for
the fourth quarter and 26.0% year-over-year to US$121.4 million for the full year. This boosted
our full year net income by 18.7% to US$134.2 million. As we move into 2025, we will
continue to prioritize high-quality development, focusing on both
product innovation and refined operational processes. Supported by
our strong financial fundamentals and deep regional expertise, we
are poised to drive success and invest in our future development,
delivering sustainable growth and value to our stakeholders."
Fourth Quarter 2024 Financial
Results
Revenues
Our revenues were US$90.8 million
in the fourth quarter of 2024, a 12.2% increase from
US$80.9 million in the
fourth quarter of 2023. The increase was primarily driven by
our broadening user base and enhanced monetization capability. Our
average MAUs increased by 14.4% to 41.4 million in the
fourth quarter of 2024 from 36.2 million in the
fourth quarter of 2023. Our solid revenue growth was also
partially attributable to the substantial increase in the number of
paying users, which grew to 12.3 million in the fourth quarter
of 2024 from 11.9 million in the fourth quarter of
2023.
In the fourth quarter of 2024, our revenues generated from
chatting services were US$59.8
million, and revenues from games services were US$30.8 million.
Costs and expenses
Our total costs and expenses were US$60.7
million in the fourth quarter of 2024, a 5.3% increase from
US$57.6 million in the
fourth quarter of 2023.
Our cost of revenues was US$31.0
million in the fourth quarter of 2024, a 1.5% increase
from US$30.6 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, partially offset by a decrease in game art design
service fees. Cost of revenues as a percentage of our total
revenues decreased to 34.2% in the fourth quarter of 2024 from
37.8% in the fourth quarter of 2023.
Our selling and marketing expenses were US$7.4 million in the fourth quarter of 2024, a
28.5% decrease from US$10.4 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 8.2% in the fourth quarter of 2024 from 12.8% in the fourth
quarter of 2023.
Our general and administrative expenses were US$13.1 million in the fourth quarter of
2024, a 15.6% increase from US$11.3
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 14.4%
in the fourth quarter of 2024 from 14.0% in the
fourth quarter of 2023.
Our technology and product development expenses were
US$9.2 million in the fourth quarter
of 2024, a 69.6% increase from US$5.4
million in the same period of last year, primarily due to an
increase in salaries and benefits for our technology and product
development staff, driven by an increase in the headcount of our
technology and product development staff to support the development
of new businesses and expansion of our product portfolio.
Technology and product development expenses as a percentage of our
total revenues increased to 10.1% in the fourth quarter of 2024
from 6.7% in the fourth quarter of 2023.
Operating income
Operating income was US$30.1
million in the fourth quarter of 2024, a 29.4% increase from
US$23.3 million in the same period
last year.
Non-GAAP operating income[6]
Non-GAAP operating income in the fourth quarter of 2024 was
US$33.3 million, a 23.0% increase
from US$27.1 million in the same
period last year.
Interest income
Interest income was US$7.1 million
in the fourth quarter of 2024, compared with US$6.5 million in the fourth quarter of 2023.
Income tax expense
Income tax expense was US$3.4
million in the fourth quarter of 2024, compared with
US$0.5 million in the fourth quarter
of 2023. The increase was primarily due to an increase in income
tax expenses recognized for recognition of deferred tax liabilities
for the undistributed retained earnings of consolidated
subsidiaries.
Net income
As a result of the foregoing, our net income was US$32.5 million in the fourth quarter of 2024, a
9.7% increase from US$29.7 million in
the fourth quarter of 2023.
Non-GAAP net income
Non-GAAP net income in the fourth quarter of 2024 was
US$35.7 million, a 6.8% increase from
US$33.4 million in the same period
last year.
Earnings per ordinary share
Basic and diluted earnings per ordinary share were US$0.20 and US$0.18, respectively, in the fourth quarter of
2024, while basic and diluted earnings per ordinary share were
US$0.20 and US$0.17, 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$0.22 and US$0.20, respectively, in the fourth quarter of
2024, compared with US$0.22 and
US$0.19, respectively, in the same
period of 2023.
Cash and cash equivalents, restricted cash, term deposits
and short-term investments
As of December 31, 2024, we had
cash and cash equivalents, restricted cash, term deposits and
short-term investments of US$656.3
million, compared with US$535.7
million as of December 31,
2023.
Full Year 2024 Financial Results
Revenues
Our revenues were US$339.7 million in 2024, a 6.5% increase
from US$318.9 million in 2023.
The increase was primarily driven by the broadening
of our user base and our enhanced monetization capability.
Our revenues generated from chatting services were US$225.4 million in 2024, and our revenues
generated from games services were US$113.6
million in 2024.
Costs and expenses
Our total costs and expenses were US$218.3 million in 2024, compared with
US$222.5 million in 2023.
Our cost of revenues was US$120.5 million in 2024, a 5.2% increase
from US$114.5 million 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 decreased to 35.5%
in 2024 from 35.9% in 2023.
Our selling and marketing expenses were US$31.3 million in 2024, a 30.9% decrease from
US$45.4 million in 2023,
primarily driven by our more disciplined advertising and promotion
approach. Selling and marketing expenses as a percentage of our
total revenues decreased to 9.2% in 2024 from 14.2% in 2023.
Our general and administrative expenses were US$37.4 million in 2024, a 1.7% increase
from US$36.8
million in 2023. General and administrative expenses as a
percentage of our total revenues decreased to 11.0% in 2024 from
11.5% in 2023.
Our technology and product development expenses were
US$29.0 million in 2024, a 12.5%
increase from US$25.8 million in
2023, primarily due to an increase in salaries and benefits for our
technology and product development staff, driven by an increase in
the headcount of our technology and product development staff to
support the development of new businesses and expansion of our
product portfolio. Technology and product development expenses as a
percentage of our total revenues increased to 8.5% in 2024 from
8.1% in 2023.
Operating income
Operating income was US$121.4
million in 2024, a 26.0% increase from US$96.4 million in 2023.
Non-GAAP operating income
Non-GAAP operating income in 2024 was US$136.1 million, a 19.1% increase from
US$114.3 million in 2023.
Interest income
Our interest income was US$28.7
million in 2024, compared with US$19.8 million in 2023, primarily due to the
increased position of cash and cash equivalents and increased
investments in wealth management products.
Income tax expense
Our income tax expense was US$13.9 million in 2024, compared with
US$2.7 million in 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
Our net income was US$134.2
million in 2024, an 18.7% increase from US$113.1 million in 2023.
Non-GAAP net income
Non-GAAP net income in 2024 was US$148.8
million, a 13.6% increase from US$131.0 million in 2023.
Earnings per ordinary share
Basic and diluted earnings per ordinary share were US$0.85 and US$0.74, respectively, in 2024, compared with
US$0.74 and US$0.65, respectively, in 2023.
Non-GAAP earnings per ordinary share
Non-GAAP basic and diluted earnings per ordinary share were
US$0.94 and US$0.82, respectively, in 2024, compared with
US$0.85 and US$0.74, respectively, in 2023.
Extension of the share repurchase program
Our board of directors has approved an extension of the
expiration date of the share repurchase program to May 21,
2026 for the Company's share repurchase program beginning on
May 21, 2021. Pursuant to the
Company's share repurchase program, in the fourth quarter of
2024, the Company repurchased 1,595,879 American depositary shares
("ADSs"), representing 1,595,879 Class A ordinary shares from the
open market with cash for an aggregate amount of approximately
US$6.9 million. Cumulatively, the
Company had completed cash repurchases in the open market of
7,305,138 ADSs, representing 7,305,138 Class A ordinary shares, for
an aggregate amount of approximately US$49.4 million, as of December 31,
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$100.6
million as of December 31,
2024.
Outlook
For the first quarter of 2025, Yalla currently expects revenues
to be between US$75.0 million and US$82.0 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, March 10, 2025, at 8:00
PM U.S. Eastern Time, which is Tuesday, March 11, 2025,
at 4:00 AM Dubai Time, or Tuesday, March 11, 2025, at 8:00 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:
|
6915264
|
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
March 17, 2025, by dialing the
following telephone numbers:
|
United States Toll
Free:
|
+1-877-344-7529
|
|
International:
|
+1-412-317-0088
|
|
Access Code:
|
9444173
|
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
|
|
|
December 31,
2024
|
|
|
|
US$
|
|
|
US$
|
|
|
ASSETS
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
311,883,463
|
|
|
|
488,379,894
|
|
|
Restricted
cash
|
|
|
423,567
|
|
|
|
1,975,616
|
|
|
Term
deposits
|
|
|
213,105,501
|
|
|
|
94,983,813
|
|
|
Short-term
investments
|
|
|
10,282,329
|
|
|
|
70,932,713
|
|
|
Amounts due from a
related party
|
|
|
109,507
|
|
|
|
—
|
|
|
Prepayments and other
current assets
|
|
|
33,340,602
|
|
|
|
35,429,988
|
|
|
Total current
assets
|
|
|
569,144,969
|
|
|
|
691,702,024
|
|
|
Non-current
assets
|
|
|
|
|
|
|
|
Property and equipment,
net
|
|
|
1,583,604
|
|
|
|
13,962,393
|
|
|
Intangible asset,
net
|
|
|
1,133,715
|
|
|
|
896,005
|
|
|
Operating lease
right-of-use assets
|
|
|
2,382,026
|
|
|
|
1,370,914
|
|
|
Long-term
investments
|
|
|
51,692,218
|
|
|
|
93,698,924
|
|
|
Other assets
|
|
|
13,015,729
|
|
|
|
—
|
|
|
Total non-current
assets
|
|
|
69,807,292
|
|
|
|
109,928,236
|
|
|
Total
assets
|
|
|
638,952,261
|
|
|
|
801,630,260
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
Accounts
payable
|
|
|
928,055
|
|
|
|
957,717
|
|
|
Deferred
revenue
|
|
|
46,558,571
|
|
|
|
58,081,649
|
|
|
Operating lease
liabilities, current
|
|
|
1,153,691
|
|
|
|
1,012,481
|
|
|
Amounts due to a
related party
|
|
|
—
|
|
|
|
87,156
|
|
|
Income taxes
payable
|
|
|
929,661
|
|
|
|
9,117,261
|
|
|
Accrued expenses and
other current liabilities
|
|
|
25,765,338
|
|
|
|
32,404,872
|
|
|
Total current
liabilities
|
|
|
75,335,316
|
|
|
|
101,661,136
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
|
Operating lease
liabilities, non-current
|
|
|
949,970
|
|
|
|
13,495
|
|
|
Deferred tax
liabilities
|
|
|
—
|
|
|
|
2,148,022
|
|
|
Total non-current
liabilities
|
|
|
949,970
|
|
|
|
2,161,517
|
|
|
Total
liabilities
|
|
|
76,285,286
|
|
|
|
103,822,653
|
|
|
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
|
|
Shareholders' equity
of Yalla Group Limited
|
|
|
|
|
|
|
|
Class A Ordinary
Shares
|
|
|
13,778
|
|
|
|
14,064
|
|
|
Class B Ordinary
Shares
|
|
|
2,473
|
|
|
|
2,473
|
|
|
Additional paid-in
capital
|
|
|
313,306,523
|
|
|
|
328,883,061
|
|
|
Treasury
stock
|
|
|
(35,527,305)
|
|
|
|
(49,438,661)
|
|
|
Accumulated other
comprehensive loss
|
|
|
(2,341,740)
|
|
|
|
(3,016,579)
|
|
|
Retained
earnings
|
|
|
292,223,525
|
|
|
|
427,907,766
|
|
|
Total shareholders'
equity of Yalla Group Limited
|
|
|
567,677,254
|
|
|
|
704,352,124
|
|
|
Non-controlling
interests
|
|
|
(5,010,279)
|
|
|
|
(6,544,517)
|
|
|
Total
equity
|
|
|
562,666,975
|
|
|
|
697,807,607
|
|
|
Total liabilities
and equity
|
|
|
638,952,261
|
|
|
|
801,630,260
|
|
|
YALLA GROUP LIMITED
UNAUDITED CONDENSED CONSOLIDATED
STATEMENTS
OF OPERATIONS
|
|
|
|
|
|
Three Months
Ended
|
|
|
Year
Ended
|
|
|
|
December 31,
2023
|
|
|
September 30,
2024
|
|
|
December 31,
2024
|
|
|
December 31,
2023
|
|
|
December 31,
2024
|
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
Revenues
|
|
|
80,925,228
|
|
|
|
88,922,031
|
|
|
|
90,827,754
|
|
|
|
318,877,564
|
|
|
|
339,675,845
|
|
|
Costs and
expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
|
(30,571,656)
|
|
|
|
(31,830,126)
|
|
|
|
(31,044,004)
|
|
|
|
(114,527,174)
|
|
|
|
(120,471,064)
|
|
|
Selling and marketing
expenses
|
|
|
(10,356,555)
|
|
|
|
(7,352,820)
|
|
|
|
(7,403,643)
|
|
|
|
(45,382,752)
|
|
|
|
(31,347,919)
|
|
|
General and
administrative expenses
|
|
|
(11,300,036)
|
|
|
|
(10,133,394)
|
|
|
|
(13,066,301)
|
|
|
|
(36,808,454)
|
|
|
|
(37,424,491)
|
|
|
Technology and product
development expenses
|
|
|
(5,411,303)
|
|
|
|
(7,108,024)
|
|
|
|
(9,178,864)
|
|
|
|
(25,804,995)
|
|
|
|
(29,030,758)
|
|
|
Total costs and
expenses
|
|
|
(57,639,550)
|
|
|
|
(56,424,364)
|
|
|
|
(60,692,812)
|
|
|
|
(222,523,375)
|
|
|
|
(218,274,232)
|
|
|
Operating
income
|
|
|
23,285,678
|
|
|
|
32,497,667
|
|
|
|
30,134,942
|
|
|
|
96,354,189
|
|
|
|
121,401,613
|
|
|
Interest
income
|
|
|
6,479,095
|
|
|
|
7,829,223
|
|
|
|
7,101,823
|
|
|
|
19,833,520
|
|
|
|
28,673,905
|
|
|
Government
grants
|
|
|
154,908
|
|
|
|
7,603
|
|
|
|
360,194
|
|
|
|
337,355
|
|
|
|
800,160
|
|
|
Investment income
(loss)
|
|
|
271,566
|
|
|
|
133,606
|
|
|
|
(1,711,657)
|
|
|
|
1,728,308
|
|
|
|
(2,805,945)
|
|
|
Impairment loss of
investments
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(2,509,480)
|
|
|
|
—
|
|
|
Income before income
taxes
|
|
|
30,191,247
|
|
|
|
40,468,099
|
|
|
|
35,885,302
|
|
|
|
115,743,892
|
|
|
|
148,069,733
|
|
|
Income tax
expense
|
|
|
(539,276)
|
|
|
|
(1,287,156)
|
|
|
|
(3,354,580)
|
|
|
|
(2,685,456)
|
|
|
|
(13,918,526)
|
|
|
Net
income
|
|
|
29,651,971
|
|
|
|
39,180,943
|
|
|
|
32,530,722
|
|
|
|
113,058,436
|
|
|
|
134,151,207
|
|
|
Net loss attributable
to non-controlling interests
|
|
|
1,533,491
|
|
|
|
673,856
|
|
|
|
60,763
|
|
|
|
4,284,341
|
|
|
|
1,533,034
|
|
|
Net income
attributable to Yalla Group
Limited's shareholders
|
|
|
31,185,462
|
|
|
|
39,854,799
|
|
|
|
32,591,485
|
|
|
|
117,342,777
|
|
|
|
135,684,241
|
|
|
Earnings per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
0.20
|
|
|
|
0.25
|
|
|
|
0.20
|
|
|
|
0.74
|
|
|
|
0.85
|
|
|
——Diluted
|
|
|
0.17
|
|
|
|
0.22
|
|
|
|
0.18
|
|
|
|
0.65
|
|
|
|
0.74
|
|
|
Weighted average
number of shares
outstanding used in computing earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
159,656,332
|
|
|
|
160,944,036
|
|
|
|
159,672,548
|
|
|
|
159,264,843
|
|
|
|
160,429,693
|
|
|
——Diluted
|
|
|
182,819,044
|
|
|
|
183,354,110
|
|
|
|
182,474,460
|
|
|
|
181,800,240
|
|
|
|
183,156,324
|
|
|
|
|
|
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
|
|
|
Year
Ended
|
|
|
|
December 31,
2023
|
|
|
September 30,
2024
|
|
|
December 31,
2024
|
|
|
December 31,
2023
|
|
|
December 31,
2024
|
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
Cost of
revenues
|
|
|
1,479,600
|
|
|
|
1,867,294
|
|
|
|
1,582,874
|
|
|
|
4,061,122
|
|
|
|
7,220,748
|
|
|
Selling and marketing
expenses
|
|
|
692,727
|
|
|
|
261,825
|
|
|
|
179,964
|
|
|
|
3,210,434
|
|
|
|
1,822,939
|
|
|
General and
administrative expenses
|
|
|
1,417,835
|
|
|
|
1,114,753
|
|
|
|
1,236,586
|
|
|
|
9,539,356
|
|
|
|
5,005,853
|
|
|
Technology and product
development expenses
|
|
|
198,803
|
|
|
|
187,205
|
|
|
|
173,063
|
|
|
|
1,118,930
|
|
|
|
642,197
|
|
|
Total share-based
compensation expenses
|
|
|
3,788,965
|
|
|
|
3,431,077
|
|
|
|
3,172,487
|
|
|
|
17,929,842
|
|
|
|
14,691,737
|
|
|
YALLA GROUP
LIMITED
RECONCILIATIONS OF
GAAP AND NON-GAAP RESULTS
|
|
|
|
|
|
Three Months
Ended
|
|
|
Year
Ended
|
|
|
|
December 31,
2023
|
|
|
September 30,
2024
|
|
|
December 31,
2024
|
|
|
December 31,
2023
|
|
|
December 31,
2024
|
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
Operating
income
|
|
|
23,285,678
|
|
|
|
32,497,667
|
|
|
|
30,134,942
|
|
|
|
96,354,189
|
|
|
|
121,401,613
|
|
|
Share-based
compensation expenses
|
|
|
3,788,965
|
|
|
|
3,431,077
|
|
|
|
3,172,487
|
|
|
|
17,929,842
|
|
|
|
14,691,737
|
|
|
Non-GAAP operating
income
|
|
|
27,074,643
|
|
|
|
35,928,744
|
|
|
|
33,307,429
|
|
|
|
114,284,031
|
|
|
|
136,093,350
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
29,651,971
|
|
|
|
39,180,943
|
|
|
|
32,530,722
|
|
|
|
113,058,436
|
|
|
|
134,151,207
|
|
|
Share-based
compensation expenses,
net of tax effect of nil
|
|
|
3,788,965
|
|
|
|
3,431,077
|
|
|
|
3,172,487
|
|
|
|
17,929,842
|
|
|
|
14,691,737
|
|
|
Non-GAAP net
income
|
|
|
33,440,936
|
|
|
|
42,612,020
|
|
|
|
35,703,209
|
|
|
|
130,988,278
|
|
|
|
148,842,944
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable
to Yalla
Group Limited's shareholders
|
|
|
31,185,462
|
|
|
|
39,854,799
|
|
|
|
32,591,485
|
|
|
|
117,342,777
|
|
|
|
135,684,241
|
|
|
Share-based
compensation expenses,
net of tax effect of nil
|
|
|
3,788,965
|
|
|
|
3,431,077
|
|
|
|
3,172,487
|
|
|
|
17,929,842
|
|
|
|
14,691,737
|
|
|
Non-GAAP net income
attributable to
Yalla Group Limited's shareholders
|
|
|
34,974,427
|
|
|
|
43,285,876
|
|
|
|
35,763,972
|
|
|
|
135,272,619
|
|
|
|
150,375,978
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
0.22
|
|
|
|
0.27
|
|
|
|
0.22
|
|
|
|
0.85
|
|
|
|
0.94
|
|
|
——Diluted
|
|
|
0.19
|
|
|
|
0.24
|
|
|
|
0.20
|
|
|
|
0.74
|
|
|
|
0.82
|
|
|
Weighted average
number of shares
outstanding used in computing earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
159,656,332
|
|
|
|
160,944,036
|
|
|
|
159,672,548
|
|
|
|
159,264,843
|
|
|
|
160,429,693
|
|
|
——Diluted
|
|
|
182,819,044
|
|
|
|
183,354,110
|
|
|
|
182,474,460
|
|
|
|
181,800,240
|
|
|
|
183,156,324
|
|
View original
content:https://www.prnewswire.com/news-releases/yalla-group-limited-announces-unaudited-fourth-quarter-and-full-year-2024-financial-results-302396946.html
SOURCE Yalla Group Limited
