SAN FRANCISCO--(BUSINESS WIRE)--Mintegral, a prominent global programmatic advertising platform for app developers, recently revealed its Q1 financial results. As a subsidiary of Mobvista, a one-stop growth platform for mobile app businesses, Mintegral generated $226 million in revenue during the first quarter, reflecting a 13% year-over-year increase and a 5.1% quarter-over-quarter growth.
In the face of external challenges such as economic downturns, Mintegral has successfully sustained growth, owing to factors like strong demand for cost-effective and high-quality traffic, the development of new verticals, and enhanced algorithms. When examining revenue composition, Mintegral maintained its dominant position in the casual gaming vertical. Furthermore, the platform experienced a notable revenue share increase of over 5% in the midcore and hardcore games verticals, demonstrating its adaptability and resilience in the market.
As indicated in Mobvista's 2022 Performance Report, the company made significant investments in Mintegral's infrastructure during 2022, improving efficiency. Following these system upgrades, Mintegral reduced manual troubleshooting and maintenance costs while enhancing its algorithmic capabilities. This allowed for more effective profit control while simultaneously fostering business expansion, demonstrating the benefits of infrastructure investment.
When examining the operating data, Mintegral displayed an impressive performance in Q1 2023 compared to Q4 2022. The retention rate for partnered traffic publishers stood at 93.4%, while the growth rate for newly partnered traffic publishers reached 15.1%. Additionally, the number of partnered traffic apps saw a 19.3% increase. Concurrently, the number of enterprises contributing over $100,000 in revenue rose to 421, boasting a retention rate of 94.8% and a dollar-based expansion rate of 117.8%. These figures demonstrate Mintegral's strong growth and commitment to fostering long-term relationships with its partners.
As Mintegral benefits from improved scale effects and continued expansion into overseas markets, the company's high-speed growth is anticipated to persist. Previously, CITIC issued a research report maintaining a "buy" rating for Mobvista (HK:1860), expressing confidence in the parent company's potential to benefit from the long-term trend of domestic internet globalization and performance growth driven by app category expansion. CITIC established a target price of HKD 6 for Mobvista, underscoring their optimistic view of the company's future growth and potential.
Mobvista has announced that it will voluntarily disclose the entire group's unaudited quarterly financial performance data to enhance transparency in its business operations, starting with Q1 2023.
As part of the Mobvista Group, Mintegral is a data-driven programmatic advertising platform offering app businesses user acquisition, monetization, and creative services. Mintegral is known for achieving record-high ROI for its app partners through big data and intelligent machine-learning technology. As a leading ad network, Mintegral has built a high-quality traffic network through over 50,000 direct app partnerships and 30+ third-party programmatic channels to give your business the best chance of success in the global market.