Mobvista Achieves $1.05B in 2023 Revenue, Sees Significant Profit Increase

SINGAPORE--(BUSINESS WIRE)--Mobvista (1860.HK), a leading global marketing and advertising technology company, has today released its financial results for the twelve months ending December 31, 2023.

Performance highlights:

• Group Revenue: Revenue increased 17.9% year-over-year (YoY) to the recorded high of $1.05 billion, and net revenue increased 26.2% YoY to $284 million.
• Group Profitability: A gross profit of $217 million, up 22.7% YoY, and an adjusted EBITDA of $105 million, up 191.3% YoY.
• Mintegral, a Mobvista subsidiary specializing in programmatic advertising, showcased exceptional performance. In 2023, Mintegral's revenue climbed to $980 million, up 18.8% YoY.

Effective cost management and operational optimization markedly boosted business profitability.

During the reporting period, Mobvista achieved notable improvements in cost efficiency due to advancements in its machine learning-based advertising systems. Additionally, by implementing multi-cloud scheduling, introducing various new computing technologies, and applying personalized computing power technology, Mobvista successfully met the goal of unit server cost reduction to 5% by the end of 2023.

Regarding operational management in the fourth quarter of 2023, Mintegral achieved an impressive publisher retention rate of 94.7%. This period also saw a significant expansion in the supply-side business, as evidenced by a 21.8% increase in the number of apps partnering with Mintegral.

Additionally, from 2022 to 2023, the retention rate of enterprise-level customers contributing over $100,000 in revenue, was 93.3%, with a dollar-based net expansion rate of 115.0%.

Significant Breakthroughs in Mid-Core and Hardcore Game Revenue

Mintegral has also actively seized opportunities in hybrid monetization, enhancing its targeting and bidding strategies, including return on ad spend (ROAS), to ensure the achievement of advertising goals.

As a result, while maintaining its leading position in casual games, Mintegral further captured the mid-core and hardcore game market, which has a higher proportion of in-app purchases. Revenue from mid-core and hardcore games increased 66.3%, accounting for 29.1% of Mintegral's total revenue in 2023.

The company conducted share buybacks exceeding HKD 100 million in 2023, and the buyback program is expected to continue, potentially further stabilizing investor expectations and boosting market confidence.

For more detailed information on Mobvista's financial highlights, please refer to the 2023 Financial 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.