Mobvista (1860.HK) Achieves Record High Revenue and Profit in Q1, with Adjusted Net Profit Increasing by 96.6% YoY
May 16 2024 - 12:00PM
Business Wire
Mobvista (1860.HK), a leading global marketing and advertising
technology company, has today released its financial results for
the first quarter ended March 31, 2024.
During the period, Mobvista achieved revenue of $ 301.5M,
marking a year-on-year growth of 23.3%; gross profit reached $
61.8M, an increase of 31.8% YoY; adjusted net profit saw an
increase of 96.6% YoY.
The programmatic ad subsidiary, Mintegral, recorded revenue of $
283.6M, up 25.4% YoY. The machine learning-based smart bidding
product, Target ROAS, was validated by the market, becoming the
main driver of Mintegral's revenue and profit growth.
Gaming remains the company's top revenue source, recording a
revenue of $ 202.8M, accounting for 71.5% of Mintegral's total, up
11.4% YoY. Furthermore, Mintegral demonstrated sustained
improvement across diverse non-gaming sectors, including
e-commerce. The results reveal that non-gaming revenue reached $
80.8M, up 83.2% YoY.
Since turning a profit in the fourth quarter of 2022, Mobvista
has achieved six consecutive quarters of profitability, with
revenue and profit reaching historic highs in this quarterly
report.
About Mobvista
Mobvista delivers the technology that drives app businesses
towards global growth. Our suite of software is powered by advanced
machine learning and supports every phase of the user journey. We
provide meaningful user engagement, make user acquisition
efficient, and maximize your app's revenue potential. For more
information, please visit www.mobvista.com.
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