Mobvista (1860.HK) Achieves Record High Revenue and Profit in Q1, with Adjusted Net Profit Increasing by 96.6% YoY

SINGAPORE--(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.