Press Release
Yalla Group Limited Announces Unaudited Third Quarter 2023 Financial Results
DUBAI, UAE, Nov. 21, 2023 /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, 2023.
Third Quarter 2023 Financial and Operating Highlights
- Revenues were US$85.2 million in the third quarter of 2023, representing an increase of 6.4% from the third quarter of 2022.
- Revenues generated from chatting services in the third quarter of 2023 were US$53.9 million.
- Revenues generated from games services in the third quarter of 2023 were US$31.2 million.
- Net income was US$35.2 million in the third quarter of 2023, a 44.3% increase from US$24.4 million in the third quarter of 2022. Net margin[1] was 41.4% in the third quarter of 2023.
- Non-GAAP net income[2] was US$38.3 million in the third quarter of 2023, a 30.3% increase from US$29.4 million in the third quarter of 2022. Non-GAAP net margin[3] was 44.9% in the third quarter of 2023.
- Average MAUs[4] increased by 13.6% to 35.1 million in the third quarter of 2023 from 30.9 million in the third quarter of 2022.
- The number of paying users[5] on our platform decreased by 2.6% to 11.2 million in the third quarter of 2023 from 11.5 million in the third quarter of 2022 due to a near-term game mechanism adjustment.
Key Operating Data | For the three months ended | ||||||
September 30, 2022 | September 30, 2023 | ||||||
Average MAUs (in thousands) | 30,896 | 35,096 | |||||
Paying users (in thousands) | 11,541 | 11,236 |
[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 and Yalla Parchis have been our main mobile applications for the periods presented herein; YallaChat and 101 Okey Yalla have been our main mobile applications since the fourth quarter of 2022; WeMuslim has been our main mobile application since the second quarter of 2023; 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 and WeMuslim do not involve the usage of virtual currencies, and the metrics of "paying users" and "ARPPU" do not reflect user activities on YallaChat and WeMuslim. "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. |
"We were pleased to achieve strong results in the third quarter of 2023," said Mr. Yang Tao, Founder, Chairman and CEO of Yalla. "We recorded all-time high revenues of US$85.2 million in the third quarter of 2023, beating the upper end of our guidance, while year-over-year revenue growth from games services exceeded 30% once again. Notably, our net income increased by 44.3% year over year to US$35.2 million during the quarter. Our robust quarterly results demonstrate our operational success in refining processes, enhancing the gamification of our flagship applications, improving our gaming mechanics and optimizing user acquisition. These efforts have empowered us to build a more engaged community of users, reflected by a 13.6% year-over-year increase in our group’s average MAUs to 35.1 million. Our high-value users also exhibited a great willingness to spend on enhanced gamification features, driving the ARPPU[6] up to US$7.35 in the third quarter of 2023, compared with US$6.89 in the third quarter of 2022.
"Thanks to our consistent game iterations and engagement of our existing Yalla user community, our two hard-core games have gained traction in the MENA region. We see immense room for growth in this sector and as such, we are determined to gradually increase our investment in the mid-core and hard-core game business, unleashing our growth potential in this flourishing market," Mr. Yang added. "Moving forward, we remain confident in the growth opportunities presented by MENA’s increasingly pivotal role on the global stage and the region’s rapid digital transformation. As the largest MENA-based online social networking and gaming company, we are dedicated to building relationships locally and globally to broaden our business horizons and fulfill local users’ evolving online social networking and entertainment needs."
Ms. Karen Hu, CFO of Yalla, commented, "We delivered a robust third quarter performance, highlighted by our record-high revenues and impressive net margin enhancement. Our relentless efforts to streamline costs as well as our enhanced, ROI-focused marketing strategy continued to yield positive outcomes, enabling us to elevate our overall efficiency. As a result, we improved our net margin to 41.4% and non-GAAP net margin to 44.9% in the third quarter of 2023. As we head into the fourth quarter, we will continue to execute our high-quality growth strategy with focus on efficiency and profitability enhancement. We believe our solid fundamentals and strong cash position will support us well to capture future opportunities as we strive to create sustainable value for our shareholders in the long run."
Third Quarter 2023 Financial Results
Revenues
Our revenues were US$85.2 million in the third quarter of 2023, a 6.4% increase from US$80.1 million in the third quarter of 2022. The increase was primarily driven by the broadening of our user base and our enhanced monetization capability. Our average MAUs increased by 13.6% from 30.9 million in the third quarter of 2022 to 35.1 million in the third quarter of 2023. Our solid revenue growth was also partially attributable to the significant increase in ARPPU, which grew from US$6.89 in the third quarter of 2022 to US$7.35 in the third quarter of 2023.
In the third quarter of 2023, our revenues generated from chatting services were US$53.9 million, and revenues from games services were US$31.2 million.
Costs and expenses
Our total costs and expenses were US$52.8 million in the third quarter of 2023, a 5.0% decrease from US$55.6 million in the third quarter of 2022.
Our cost of revenues was US$27.8 million in the third quarter of 2023, a 6.1% decrease from US$29.6 million in the same period last year, primarily due to lower technical service fees resulting from more disciplined management. Cost of revenues as a percentage of our total revenues decreased to 32.6% in the third quarter of 2023, compared with 36.9% in the third quarter of 2022.
Our selling and marketing expenses were US$11.3 million in the third quarter of 2023, a 5.5% decrease from US$12.0 million in the same period last year, primarily driven by lower share-based compensation expenses recognized in the third quarter of 2023. Selling and marketing expenses as a percentage of our total revenues decreased from 14.9% in the third quarter of 2022 to 13.3% in the third quarter of 2023.
Our general and administrative expenses were US$7.3 million in the third quarter of 2023, a 14.5% decrease from US$8.6 million in the same period last year, primarily driven by lower share-based compensation expenses recognized in the third quarter of 2023. General and administrative expenses as a percentage of our total revenues decreased from 10.7% in the third quarter of 2022 to 8.6% in the third quarter of 2023.
Our technology and product development expenses were US$6.4 million in the third quarter of 2023, a 16.6% increase from US$5.5 million in the same period last year, primarily due to an increase in salaries and benefits for 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 from 6.9% in the third quarter of 2022 to 7.5% in the third quarter of 2023.
Operating income
Operating income was US$32.4 million in the third quarter of 2023, a 32.3% increase from US$24.5 million in the third quarter of 2022.
Non-GAAP operating income[7]
Non-GAAP operating income in the third quarter of 2023 was US$35.4 million, a 20.4% increase from US$29.5 million in the same period last year.
Interest income
Our interest income was US$5.6 million in the third quarter of 2023, compared with US$0.8 million in the third quarter of 2022, primarily due to a significant increase in interest rates applicable to the Company’s bank deposits and a continued increase in the Company’s cash position.
Income tax expense
Our income tax expense was US$0.71 million in the third quarter of 2023, a 10.2% decrease from US$0.79 million in the third quarter of 2022.
Net income
As a result of the foregoing, our net income was US$35.2 million in the third quarter of 2023, a 44.3% increase from US$24.4 million in the third quarter of 2022.
Non-GAAP net income
Non-GAAP net income in the third quarter of 2023 was US$38.3 million, a 30.3% increase from US$29.4 million in the same period last year.
Earnings per ordinary share
Basic and diluted earnings per ordinary share were US$0.23 and US$0.20, respectively, in the third quarter of 2023, while basic and diluted earnings per ordinary share were US$0.16 and US$0.14, respectively, in the same period of 2022.
Non-GAAP earnings per ordinary share[8]
Non-GAAP basic and diluted earnings per ordinary share were US$0.24 and US$0.21, respectively, in the third quarter of 2023, compared with US$0.19 and US$0.17, respectively, in the same period of 2022.
Cash and cash equivalents, restricted cash, term deposits and short-term investments
As of September 30, 2023, we had cash and cash equivalents, restricted cash, term deposits and short-term investments of US$545.1 million, compared with US$453.0 million as of December 31, 2022.
[6] "ARPPU" refers to average revenues per paying user in a given period, which is calculated by dividing (i) revenues for such period, by (ii) the number of paying users for such period. When calculating the ARPPU, we include revenues generated from Yalla, Yalla Ludo, Yalla Parchis, 101 Okey Yalla (since the fourth quarter of 2022) and Ludo Royal (since the third quarter of 2023) in a given period. |
[7] 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. |
[8] 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. |
Share repurchase program
Pursuant to the Company’s share repurchase program beginning on May 21, 2021, with an extended expiration date of May 21, 2024, in the third quarter of 2023, the Company repurchased 1,670,735 American depositary shares ("ADSs") representing 1,670,735 Class A ordinary shares from the open market with cash for an aggregate amount of approximately US$8.5 million. Cumulatively, the Company completed cash repurchases in the open market of 3,972,876 ADSs, representing 3,972,876 Class A ordinary shares, for an aggregate amount of approximately US$35.5 million, as of September 30, 2023. The aggregate value of ADSs and/or Class A ordinary shares that remain available for purchase under the current share repurchase program was US$114.5 million as of September 30, 2023.
Outlook
For the fourth quarter of 2023, Yalla currently expects revenues to be between US$73.0 million and US$80.0 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.
Conference Call
The Company’s management will host an earnings conference call on Monday, November 20, 2023, at 8:00 PM U.S. Eastern Time, Tuesday, November 21, 2023, at 5:00 AM Dubai Time, or Tuesday, November 21, 2023, 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 Toll Free: | 800-963-976 |
Access Code: | 9043914 |
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 27, 2023, by dialing the following telephone numbers:
United States Toll Free: | +1-877-344-7529 |
International: | +1-412-317-0088 |
Access Code: | 5229914 |
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 revenue 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 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, 2022 | September 30, | |||||||
US$ | US$ | |||||||
ASSETS | ||||||||
Current assets | ||||||||
Cash and cash equivalents | 407,256,837 | 267,454,622 | ||||||
Restricted cash | — | 417,839 | ||||||
Term deposits | 20,000,000 | 236,761,209 | ||||||
Short-term investments | 25,788,304 | 40,476,760 | ||||||
Amounts due from a related party | — | 111,665 | ||||||
Prepayments and other current assets | 28,652,840 | 33,453,298 | ||||||
Total current assets | 481,697,981 | 578,675,393 | ||||||
Non-current assets | ||||||||
Property and equipment, net | 2,121,613 | 1,952,303 | ||||||
Intangible asset, net | 1,328,470 | 1,198,768 | ||||||
Operating lease right-of-use assets | 1,950,364 | 2,993,403 | ||||||
Long-term investments | 3,833,750 | 1,328,491 | ||||||
Other assets | 15,406,078 | 15,080,531 | ||||||
Total non-current assets | 24,640,275 | 22,553,496 | ||||||
Total assets | 506,338,256 | 601,228,889 | ||||||
LIABILITIES | ||||||||
Current liabilities | ||||||||
Accounts payable | 5,382,276 | 1,147,827 | ||||||
Deferred revenue | 35,957,485 | 44,468,280 | ||||||
Operating lease liabilities, current | 858,452 | 1,286,661 | ||||||
Accrued expenses and other current liabilities | 22,821,168 | 24,017,537 | ||||||
Total current liabilities | 65,019,381 | 70,920,305 | ||||||
Non-current liabilities | ||||||||
Operating lease liabilities, non-current | 744,612 | 1,118,285 | ||||||
Amounts due to a related party | 709,789 | 616,904 | ||||||
Total non-current liabilities | 1,454,401 | 1,735,189 | ||||||
Total liabilities | 66,473,782 | 72,655,494 | ||||||
EQUITY | ||||||||
Shareholders’ equity of Yalla Group Limited | ||||||||
Class A Ordinary Shares | 13,356 | 13,726 | ||||||
Class B Ordinary Shares | 2,473 | 2,473 | ||||||
Additional paid-in capital | 294,406,395 | 309,383,994 | ||||||
Treasury stock | (27,014,697) | (35,527,305) | ||||||
Accumulated other comprehensive loss | (1,701,111) | (2,862,193) | ||||||
Retained earnings | 174,880,748 | 261,038,063 | ||||||
Total shareholders’ equity of Yalla Group Limited | 440,587,164 | 532,048,758 | ||||||
Non-controlling interests | (722,690) | (3,475,363) | ||||||
Total equity | 439,864,474 | 528,573,395 | ||||||
Total liabilities and equity | 506,338,256 | 601,228,889 |
YALLA GROUP LIMITED | ||||||||||||||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS | ||||||||||||||||||||
OF OPERATIONS | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||||||||
US$ | US$ | US$ | US$ | US$ | ||||||||||||||||
Revenues | 80,061,650 | 79,246,363 | 85,187,360 | 228,489,731 | 237,952,336 | |||||||||||||||
Costs and expenses | ||||||||||||||||||||
Cost of revenues | (29,568,306) | (28,330,815) | (27,772,226) | (86,368,643) | (83,955,518) | |||||||||||||||
Selling and marketing expenses | (11,951,117) | (12,378,490) | (11,292,732) | (35,685,652) | (35,026,197) | |||||||||||||||
General and administrative expenses | (8,567,865) | (8,018,573) | (7,325,451) | (23,541,724) | (25,508,418) | |||||||||||||||
Technology and product development expenses | (5,487,884) | (6,586,078) | (6,396,426) | (19,199,167) | (20,393,692) | |||||||||||||||
Total costs and expenses | (55,575,172) | (55,313,956) | (52,786,835) | (164,795,186) | (164,883,825) | |||||||||||||||
Operating income | 24,486,478 | 23,932,407 | 32,400,525 | 63,694,545 | 73,068,511 | |||||||||||||||
Interest income | 777,581 | 4,623,275 | 5,612,861 | 1,005,132 | 13,354,425 | |||||||||||||||
Government grants | 51,483 | 4,560 | 228 | 212,015 | 182,447 | |||||||||||||||
Investment (loss) income | (104,944) | 529,308 | 435,545 | (255,715) | 1,456,742 | |||||||||||||||
Impairment loss of investments | — | — | (2,509,480) | — | (2,509,480) | |||||||||||||||
Income before income taxes | 25,210,598 | 29,089,550 | 35,939,679 | 64,655,977 | 85,552,645 | |||||||||||||||
Income tax expense | (788,985) | (821,149) | (708,673) | (2,182,641) | (2,146,180) | |||||||||||||||
Net income | 24,421,613 | 28,268,401 | 35,231,006 | 62,473,336 | 83,406,465 | |||||||||||||||
Net loss attributable to non-controlling interests | 206,347 | 1,202,160 | 994,099 | 520,944 | 2,750,850 | |||||||||||||||
Net income attributable to Yalla Group | 24,627,960 | 29,470,561 | 36,225,105 | 62,994,280 | 86,157,315 | |||||||||||||||
Earnings per ordinary share | ||||||||||||||||||||
——Basic | 0.16 | 0.19 | 0.23 | 0.41 | 0.54 | |||||||||||||||
——Diluted | 0.14 | 0.16 | 0.20 | 0.36 | 0.47 | |||||||||||||||
Weighted average number of shares | ||||||||||||||||||||
——Basic | 155,190,724 | 158,871,859 | 160,554,831 | 152,244,358 | 159,134,347 | |||||||||||||||
——Diluted | 177,347,900 | 180,752,549 | 183,111,650 | 176,347,667 | 181,460,639 |
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, | June 30, | September 30, | September 30, | September 30, | ||||||||||||||||
US$ | US$ | US$ | US$ | US$ | ||||||||||||||||
Cost of revenues | 1,065,549 | 923,513 | 627,760 | 3,914,210 | 2,581,522 | |||||||||||||||
Selling and marketing expenses | 1,059,009 | 1,014,371 | 532,001 | 4,755,921 | 2,517,707 | |||||||||||||||
General and administrative expenses | 2,462,675 | 3,242,981 | 1,633,262 | 11,788,894 | 8,121,521 | |||||||||||||||
Technology and product development expenses | 379,994 | 315,173 | 255,677 | 1,048,923 | 920,127 | |||||||||||||||
Total share-based compensation expenses | 4,967,227 | 5,496,038 | 3,048,700 | 21,507,948 | 14,140,877 |
YALLA GROUP LIMITED | ||||||||||||||||||||
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||||||||
US$ | US$ | US$ | US$ | US$ | ||||||||||||||||
Operating income | 24,486,478 | 23,932,407 | 32,400,525 | 63,694,545 | 73,068,511 | |||||||||||||||
Share-based compensation expenses | 4,967,227 | 5,496,038 | 3,048,700 | 21,507,948 | 14,140,877 | |||||||||||||||
Non-GAAP operating income | 29,453,705 | 29,428,445 | 35,449,225 | 85,202,493 | 87,209,388 | |||||||||||||||
Net income | 24,421,613 | 28,268,401 | 35,231,006 | 62,473,336 | 83,406,465 | |||||||||||||||
Share-based compensation expenses, net of tax effect of nil | 4,967,227 | 5,496,038 | 3,048,700 | 21,507,948 | 14,140,877 | |||||||||||||||
Non-GAAP net income | 29,388,840 | 33,764,439 | 38,279,706 | 83,981,284 | 97,547,342 | |||||||||||||||
Net income attributable to Yalla | 24,627,960 | 29,470,561 | 36,225,105 | 62,994,280 | 86,157,315 | |||||||||||||||
Share-based compensation expenses, net of tax effect of nil | 4,967,227 | 5,496,038 | 3,048,700 | 21,507,948 | 14,140,877 | |||||||||||||||
Non-GAAP net income attributable to | 29,595,187 | 34,966,599 | 39,273,805 | 84,502,228 | 100,298,192 | |||||||||||||||
Non-GAAP earnings per ordinary share | ||||||||||||||||||||
——Basic | 0.19 | 0.22 | 0.24 | 0.56 | 0.63 | |||||||||||||||
——Diluted | 0.17 | 0.19 | 0.21 | 0.48 | 0.55 | |||||||||||||||
Weighted average number of shares | ||||||||||||||||||||
——Basic | 155,190,724 | 158,871,859 | 160,554,831 | 152,244,358 | 159,134,347 | |||||||||||||||
——Diluted | 177,347,900 | 180,752,549 | 183,111,650 | 176,347,667 | 181,460,639 |
Source : Yalla Group Limited Announces Unaudited Third Quarter 2023 Financial Results
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Tiger Trade Launches SGX Trading, Meeting Demand from Asian Investors
Access to the Singapore Exchange (SGX) adds to Tiger Brokers’ current menu of stock exchanges, such as the New York Stock Exchange (NYSE) and the Nasdaq Stock Market (NASDAQ), the world’s two largest stock exchanges, as well as the Hong Kong Stock Exchange (HKEX).
SINGAPORE (ACN Newswire) – Tiger Trade, a one-stop mobile and online trading application by Tiger Brokers, has launched access to the Singapore Exchange (SGX).
(more…)Health
APRIL International Care opens up TeleHEALTH service to address Coronavirus worries
The TeleHEALTH service means policyholders do not have to leave their home or workplace to “see” a doctor, with a consultation happening directly over the phone
Hong Kong February 10, 2020 – APRIL International Care has opened up its TeleHEALTH service to all individual and group clients across its Asian region to provide support for clients during the current Coronavirus outbreak.
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