Yalla Group Limited Announces Unaudited Third Quarter 2024 Financial Results

PR Newswire11-12

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...

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}","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2482376282","pubTimestamp":1731362400,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"DUBAI, UAE, Nov. 11, 2024 /PRNewswire/ -- Yalla Group Limited  , the largest Middle East and North Africa -based online social networking and gaming company, today announced its unaudited financial results for the third quarter ended September 30, 2024.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.The number of paying users[5] on our platform increased","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4077":"互动媒体与服务","GRO":"Brazil Potash Corp.","YALA":"雅乐科技"},"translate_title":"Yalla Group Limited公布未经审计的2024年第三季度财务业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GRO":1,"YALA":1},"content_text":"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.\nThird Quarter 2024 Financial and Operating Highlights\n\nRevenues were US$88.9 million in the third quarter of 2024, representing an increase of 4.4% from the third quarter of 2023.\n   \nRevenues generated from chatting services in the third quarter of 2024 were US$58.5 million.\nRevenues generated from games services in the third quarter of 2024 were US$30.2 million.\n\nNet 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.\nNon-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.\nAverage 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.\nThe 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.\n\n\n\n\n\n[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. \n\n\n\n\n\n\n\n\nKey Operating Data \nFor the three months ended \n\n\n\n\nSeptember 30, 2023 \n\n\nSeptember 30, 2024 \n\n\n\n\n\n\n\n\n\n\n\nAverage MAUs (in thousands) \n\n35,096 \n\n\n\n40,176 \n\n\n\n\n\n\n\n\n\n\n\nPaying users (in thousands) \n\n11,236 \n\n\n\n12,582 \n\n\n\n\n\n\"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.\"\n\"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.\nMs. 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.\"\nThird Quarter 2024 Financial Results\nRevenues\nOur 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.\nIn 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.\nCosts and expenses\nOur 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.\nOur 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.\nOur 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.\nOur 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.\nOur 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.\nOperating income\nOperating income remained relatively stable at US$32.5 million in the third quarter of 2024.\nNon-GAAP operating income[6]\nNon-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.\nInterest income \nInterest 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.\nIncome tax expense\nIncome 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.\nNet income\nAs 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.\nNon-GAAP net income\nNon-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.\nEarnings per ordinary share\nBasic 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.\nNon-GAAP earnings per ordinary share[7]\nNon-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.\nCash and cash equivalents, restricted cash, term deposits and short-term investments \nAs 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.\nShare Repurchase Program\nPursuant 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.\nOutlook\nFor the fourth quarter of 2024, Yalla currently expects revenues to be between US$77.0 million and US$84.0 million.\nThe 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.\n\n\n\n\n[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. \n\n\n\n\nConference Call\nThe 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.\nDial-in details for the earnings conference call are as follows:\n\n\n\n\nUnited States Toll Free:  \n+1-888-317-6003 \n\n\nInternational: \n+1-412-317-6061 \n\n\nUnited Arab Emirates Toll Free: \n80-003-570-3589 \n\n\nMainland China Toll Free: \n400-120-6115 \n\n\nHong Kong, China Toll Free:  \n800-963-976 \n\n\nAccess Code:  \n5810867 \n\n\n\n\nAdditionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.yalla.com. \nA replay of the conference call will be accessible until November 18, 2024, by dialing the following telephone numbers:\n\n\n\n\nUnited States Toll Free: \n+1-877-344-7529 \n\n\nInternational: \n+1-412-317-0088 \n\n\nAccess Code: \n5806791 \n\n\n\n\nNon-GAAP Financial Measures\nTo 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.\nBy 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.\nThe 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.\nThe 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.\nReconciliations of GAAP and non-GAAP results are set forth at the end of this press release.\nAbout Yalla Group Limited\nYalla 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.\nFor more information, please visit: https://ir.yalla.com.\nSafe Harbor Statement\nThis 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.\nFor investor and media inquiries, please contact: \nYalla Group LimitedInvestor RelationsKerry Gao - IR DirectorTel: +86-571-8980-7962Email: ir@yalla.com \nPiacente Financial CommunicationsJenny CaiTel: +86-10-6508-0677Email: yalla@tpg-ir.com \nIn the United States:\nPiacente Financial CommunicationsBrandi PiacenteTel: +1-212-481-2050Email: yalla@tpg-ir.com \n\n\n\n\nYALLA GROUP LIMITED  UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS \n\n\n\n\n\n\n\n\n\n\n\nAs of \n\n\n\n\n\nDecember 31,2023 \n\n\nSeptember 30,2024 \n\n\n\n\n\nUS$ \n\n\nUS$ \n\n\n\nASSETS \n\n\n\n\n\n\n\n\nCurrent assets \n\n\n\n\n\n\n\n\nCash and cash equivalents \n\n\n311,883,463 \n\n\n\n349,117,329 \n\n\n\nRestricted cash \n\n\n423,567 \n\n\n\n428,119 \n\n\n\nTerm deposits \n\n\n213,105,501 \n\n\n\n212,514,896 \n\n\n\nShort-term investments \n\n\n10,282,329 \n\n\n\n8,000,000 \n\n\n\nAmounts due from a related party \n\n\n109,507 \n\n\n\n— \n\n\n\nPrepayments and other current assets \n\n\n33,340,602 \n\n\n\n41,563,630 \n\n\n\nTotal current assets \n\n\n569,144,969 \n\n\n\n611,623,974 \n\n\n\nNon-current assets \n\n\n\n\n\n\n\n\nProperty and equipment, net \n\n\n1,583,604 \n\n\n\n1,290,519 \n\n\n\nIntangible asset, net \n\n\n1,133,715 \n\n\n\n956,191 \n\n\n\nOperating lease right-of-use assets \n\n\n2,382,026 \n\n\n\n1,595,166 \n\n\n\nLong-term investments \n\n\n51,692,218 \n\n\n\n135,684,579 \n\n\n\nOther assets \n\n\n13,015,729 \n\n\n\n13,155,593 \n\n\n\nTotal non-current assets \n\n\n69,807,292 \n\n\n\n152,682,048 \n\n\n\nTotal assets \n\n\n638,952,261 \n\n\n\n764,306,022 \n\n\n\n\n\n\n\n\n\n\n\n\nLIABILITIES \n\n\n\n\n\n\n\n\nCurrent liabilities \n\n\n\n\n\n\n\n\nAccounts payable \n\n\n928,055 \n\n\n\n789,509 \n\n\n\nDeferred revenue \n\n\n46,558,571 \n\n\n\n58,839,261 \n\n\n\nOperating lease liabilities, current \n\n\n1,153,691 \n\n\n\n1,034,753 \n\n\n\nAmounts due to a related party \n\n\n— \n\n\n\n98,113 \n\n\n\nAccrued expenses and other current liabilities \n\n\n26,694,999 \n\n\n\n33,737,519 \n\n\n\nTotal current liabilities \n\n\n75,335,316 \n\n\n\n94,499,155 \n\n\n\nNon-current liabilities \n\n\n\n\n\n\n\n\nOperating lease liabilities, non-current \n\n\n949,970 \n\n\n\n— \n\n\n\nTotal non-current liabilities \n\n\n949,970 \n\n\n\n— \n\n\n\nTotal liabilities \n\n\n76,285,286 \n\n\n\n94,499,155 \n\n\n\n\n\n\n\n\n\n\n\n\nEQUITY \n\n\n\n\n\n\n\n\nShareholders' equity of Yalla Group Limited \n\n\n\n\n\n\n\n\nClass A Ordinary Shares \n\n\n13,778 \n\n\n\n13,970 \n\n\n\nClass B Ordinary Shares \n\n\n2,473 \n\n\n\n2,473 \n\n\n\nAdditional paid-in capital \n\n\n313,306,523 \n\n\n\n325,394,525 \n\n\n\nTreasury stock \n\n\n(35,527,305) \n\n\n\n(42,517,154) \n\n\n\nAccumulated other comprehensive loss \n\n\n(2,341,740) \n\n\n\n(1,922,789) \n\n\n\nRetained earnings \n\n\n292,223,525 \n\n\n\n395,316,281 \n\n\n\nTotal shareholders' equity of Yalla Group Limited \n\n\n567,677,254 \n\n\n\n676,287,306 \n\n\n\nNon-controlling interests \n\n\n(5,010,279) \n\n\n\n(6,480,439) \n\n\n\nTotal equity \n\n\n562,666,975 \n\n\n\n669,806,867 \n\n\n\nTotal liabilities and equity \n\n\n638,952,261 \n\n\n\n764,306,022 \n\n\n\n\n\n\n\n\n\nYALLA GROUP LIMITED  UNAUDITED CONDENSED CONSOLIDATED STATEMENTS  OF OPERATIONS \n\n\n\n\n\n\n\n\n\nThree Months Ended \n\n\nNine Months Ended \n\n\n\n\n\nSeptember 30,2023 \n\n\nJune 30,2024 \n\n\nSeptember 30,2024 \n\n\nSeptember 30,2023 \n\n\nSeptember 30,2024 \n\n\n\n\n\nUS$ \n\n\nUS$ \n\n\nUS$ \n\n\nUS$ \n\n\nUS$ \n\n\n\nRevenues \n\n\n85,187,360 \n\n\n\n81,197,482 \n\n\n\n88,922,031 \n\n\n\n237,952,336 \n\n\n\n248,848,091 \n\n\n\nCosts and expenses \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCost of revenues \n\n\n(27,772,226) \n\n\n\n(29,025,673) \n\n\n\n(31,830,126) \n\n\n\n(83,955,518) \n\n\n\n(89,427,060) \n\n\n\nSelling and marketing expenses \n\n\n(11,292,732) \n\n\n\n(8,491,520) \n\n\n\n(7,352,820) \n\n\n\n(35,026,197) \n\n\n\n(23,944,276) \n\n\n\nGeneral and administrative expenses \n\n\n(7,325,451) \n\n\n\n(7,576,904) \n\n\n\n(10,133,394) \n\n\n\n(25,508,418) \n\n\n\n(24,358,190) \n\n\n\nTechnology and product development expenses   \n\n\n(6,396,426) \n\n\n\n(6,481,616) \n\n\n\n(7,108,024) \n\n\n\n(20,393,692) \n\n\n\n(19,851,894) \n\n\n\nTotal costs and expenses \n\n\n(52,786,835) \n\n\n\n(51,575,713) \n\n\n\n(56,424,364) \n\n\n\n(164,883,825) \n\n\n\n(157,581,420) \n\n\n\nOperating income \n\n\n32,400,525 \n\n\n\n29,621,769 \n\n\n\n32,497,667 \n\n\n\n73,068,511 \n\n\n\n91,266,671 \n\n\n\nInterest income \n\n\n5,612,861 \n\n\n\n7,097,975 \n\n\n\n7,829,223 \n\n\n\n13,354,425 \n\n\n\n21,572,082 \n\n\n\nGovernment grants \n\n\n228 \n\n\n\n365,031 \n\n\n\n7,603 \n\n\n\n182,447 \n\n\n\n439,966 \n\n\n\nInvestment income (loss) \n\n\n435,545 \n\n\n\n60,233 \n\n\n\n133,606 \n\n\n\n1,456,742 \n\n\n\n(1,094,288) \n\n\n\nImpairment loss of investments \n\n\n(2,509,480) \n\n\n\n— \n\n\n\n— \n\n\n\n(2,509,480) \n\n\n\n— \n\n\n\nIncome before income taxes \n\n\n35,939,679 \n\n\n\n37,145,008 \n\n\n\n40,468,099 \n\n\n\n85,552,645 \n\n\n\n112,184,431 \n\n\n\nIncome tax expense \n\n\n(708,673) \n\n\n\n(5,793,582) \n\n\n\n(1,287,156) \n\n\n\n(2,146,180) \n\n\n\n(10,563,946) \n\n\n\nNet income \n\n\n35,231,006 \n\n\n\n31,351,426 \n\n\n\n39,180,943 \n\n\n\n83,406,465 \n\n\n\n101,620,485 \n\n\n\nNet loss attributable to non-controlling interests   \n\n\n994,099 \n\n\n\n292,428 \n\n\n\n673,856 \n\n\n\n2,750,850 \n\n\n\n1,472,271 \n\n\n\nNet income attributable to Yalla Group   Limited's shareholders \n\n\n36,225,105 \n\n\n\n31,643,854 \n\n\n\n39,854,799 \n\n\n\n86,157,315 \n\n\n\n103,092,756 \n\n\n\nEarnings per ordinary share \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n——Basic \n\n\n0.23 \n\n\n\n0.20 \n\n\n\n0.25 \n\n\n\n0.54 \n\n\n\n0.64 \n\n\n\n——Diluted \n\n\n0.20 \n\n\n\n0.17 \n\n\n\n0.22 \n\n\n\n0.47 \n\n\n\n0.56 \n\n\n\nWeighted average number of shares   outstanding used in computing earnings   per ordinary share \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n——Basic \n\n\n160,554,831 \n\n\n\n160,721,827 \n\n\n\n160,944,036 \n\n\n\n159,134,347 \n\n\n\n160,681,773 \n\n\n\n——Diluted \n\n\n183,111,650 \n\n\n\n183,535,654 \n\n\n\n183,354,110 \n\n\n\n181,460,639 \n\n\n\n183,383,311 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nShare-based compensation was allocated in cost of revenues, selling and marketing expenses, general and administrative expenses and  technology and product development expenses as follows: \n\n\n\n\n\n\n\nThree Months Ended \n\n\nNine Months Ended \n\n\n\n\n\nSeptember 30,2023 \n\n\nJune 30,2024 \n\n\nSeptember 30,2024 \n\n\nSeptember 30,2023 \n\n\nSeptember 30,2024 \n\n\n\n\n\nUS$ \n\n\nUS$ \n\n\nUS$ \n\n\nUS$ \n\n\nUS$ \n\n\n\nCost of revenues \n\n\n627,760 \n\n\n\n1,867,863 \n\n\n\n1,867,294 \n\n\n\n2,581,522 \n\n\n\n5,637,874 \n\n\n\nSelling and marketing expenses \n\n\n532,001 \n\n\n\n681,035 \n\n\n\n261,825 \n\n\n\n2,517,707 \n\n\n\n1,642,975 \n\n\n\nGeneral and administrative expenses \n\n\n1,633,262 \n\n\n\n1,321,200 \n\n\n\n1,114,753 \n\n\n\n8,121,521 \n\n\n\n3,769,267 \n\n\n\nTechnology and product development expenses   \n\n\n255,677 \n\n\n\n19,198 \n\n\n\n187,205 \n\n\n\n920,127 \n\n\n\n469,134 \n\n\n\nTotal share-based compensation expenses \n\n\n3,048,700 \n\n\n\n3,889,296 \n\n\n\n3,431,077 \n\n\n\n14,140,877 \n\n\n\n11,519,250 \n\n\n\n\n\n\n\n\n\nYALLA GROUP LIMITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS  \n\n\n\n\n\n\n\nThree Months Ended \n\n\nNine Months Ended \n\n\n\n\n\nSeptember 30,2023 \n\n\nJune 30,2024 \n\n\nSeptember 30,2024 \n\n\nSeptember 30,2023 \n\n\nSeptember 30,2024 \n\n\n\n\n\nUS$ \n\n\nUS$ \n\n\nUS$ \n\n\nUS$ \n\n\nUS$ \n\n\n\nOperating income \n\n\n32,400,525 \n\n\n\n29,621,769 \n\n\n\n32,497,667 \n\n\n\n73,068,511 \n\n\n\n91,266,671 \n\n\n\nShare-based compensation expenses \n\n\n3,048,700 \n\n\n\n3,889,296 \n\n\n\n3,431,077 \n\n\n\n14,140,877 \n\n\n\n11,519,250 \n\n\n\nNon-GAAP operating income \n\n\n35,449,225 \n\n\n\n33,511,065 \n\n\n\n35,928,744 \n\n\n\n87,209,388 \n\n\n\n102,785,921 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNet income \n\n\n35,231,006 \n\n\n\n31,351,426 \n\n\n\n39,180,943 \n\n\n\n83,406,465 \n\n\n\n101,620,485 \n\n\n\nShare-based compensation expenses,    net of tax effect of nil \n\n\n3,048,700 \n\n\n\n3,889,296 \n\n\n\n3,431,077 \n\n\n\n14,140,877 \n\n\n\n11,519,250 \n\n\n\nNon-GAAP net income \n\n\n38,279,706 \n\n\n\n35,240,722 \n\n\n\n42,612,020 \n\n\n\n97,547,342 \n\n\n\n113,139,735 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNet income attributable to Yalla   Group Limited's shareholders \n\n\n36,225,105 \n\n\n\n31,643,854 \n\n\n\n39,854,799 \n\n\n\n86,157,315 \n\n\n\n103,092,756 \n\n\n\nShare-based compensation expenses,    net of tax effect of nil \n\n\n3,048,700 \n\n\n\n3,889,296 \n\n\n\n3,431,077 \n\n\n\n14,140,877 \n\n\n\n11,519,250 \n\n\n\nNon-GAAP net income attributable to   Yalla Group Limited's shareholders \n\n\n39,273,805 \n\n\n\n35,533,150 \n\n\n\n43,285,876 \n\n\n\n100,298,192 \n\n\n\n114,612,006 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNon-GAAP earnings per ordinary share \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n——Basic \n\n\n0.24 \n\n\n\n0.22 \n\n\n\n0.27 \n\n\n\n0.63 \n\n\n\n0.71 \n\n\n\n——Diluted \n\n\n0.21 \n\n\n\n0.19 \n\n\n\n0.24 \n\n\n\n0.55 \n\n\n\n0.62 \n\n\n\nWeighted average number of shares   outstanding used in computing earnings   per ordinary share \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n——Basic \n\n\n160,554,831 \n\n\n\n160,721,827 \n\n\n\n160,944,036 \n\n\n\n159,134,347 \n\n\n\n160,681,773 \n\n\n\n——Diluted \n\n\n183,111,650 \n\n\n\n183,535,654 \n\n\n\n183,354,110 \n\n\n\n181,460,639 \n\n\n\n183,383,311 \n\n\n\n\n\n View original content:https://www.prnewswire.com/news-releases/yalla-group-limited-announces-unaudited-third-quarter-2024-financial-results-302301100.html\nSOURCE Yalla Group Limited","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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