DUBAI, UAE, Aug. 14,
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 second quarter ended June 30, 2023.
Second Quarter 2023 Financial and Operating
Highlights
- Revenues were US$79.2
million in the second quarter of 2023, representing an
increase of 4.1% from the second quarter of 2022.
- Revenues generated from chatting services in
the second quarter of 2023 were US$55.2
million.
- Revenues generated from games services in the
second quarter of 2023 were US$24.0
million.
- Net income was US$28.3
million in the second quarter of 2023, compared with
US$20.4 million in the second quarter
of 2022. Net margin[1]
was 35.7% in the second quarter of 2023.
- Non-GAAP net income[2] was US$33.8
million in the second quarter of 2023, compared with
US$28.6 million in the second quarter
of 2022. Non-GAAP net margin[3] was 42.6% in the second quarter of
2023.
- Average MAUs[4] increased by 14.3% to 34.2 million
in the second quarter of 2023 from 29.9 million in the second
quarter of 2022.
- The number of paying users[5] on our platform increased by 26.6% to
13.4 million in the second quarter of 2023 from 10.6 million in the
second quarter of 2022.
|
Key Operating
Data
|
For the three months
ended
|
|
|
June 30,
2022
|
|
|
June 30,
2023
|
|
|
|
|
|
|
|
|
Average MAUs (in
thousands)
|
|
29,920
|
|
|
|
34,192
|
|
|
|
|
|
|
|
|
Paying users (in
thousands)
|
|
10,585
|
|
|
|
13,402
|
|
|
[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; and WeMuslim has been our main mobile application
since the second 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 receive all of their virtual currencies
directly or indirectly from us for free. "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.
|
"Our robust second quarter performance delivered total revenues
that increased by 4.1% year-over-year to US$79.2 million, exceeding the top end of our
guidance despite the period's seasonality prompted by the Ramadan
holiday," said Mr. Yang Tao,
Founder, Chairman and CEO of Yalla. "These exceptional results
showcase our ongoing dedication and ability to successfully refine
our operating processes, enhance the gamification of our flagship
applications and optimize our user acquisition strategy. As a
result, we have holistically elevated users' experience across
our suite of products, driving increased user engagement. Our
Group's average MAUs increased to 34.2 million for the second
quarter, up 14.3% year-over-year. Users are also showing increasing
willingness to pay for our products and the number of total paying
users increased to 13.4 million in the second quarter of 2023.
"The launch of our second hard-core mobile game Merge Kingdoms
drove exciting progress in our mid-core and hard-core gaming
business during the second quarter. Meanwhile, we continue to
refine and upgrade our first self-developed hard-core game, Age of
Legends, which was launched across Gulf countries at the beginning
of August 2023," Mr. Yang added.
"Digital transformation is sweeping through the MENA region. To
make the most of the growing opportunities within the expanding
market, we are strategically investing in R&D and exploring new
business prospects that complement our existing offerings. Moving
forward, we will continue to leverage our local know-how and core
capabilities, as well as work to forge collaborations with
international partners that strengthen our offerings and overall
value proposition."
"In the second quarter, we achieved solid top-line and
bottom-line growth as we continued to pursue high-quality
development of our business," said Ms. Karen Hu, CFO of Yalla. "Our commitment to
disciplined cost management and an ROI-focused sales and marketing
strategy has elevated our overall operational efficiency. We have
also strategically leveraged the high-interest rates to achieve a
higher return for our strong cash position. Consequently, we
maintained a healthy level of profitability throughout the quarter,
registering a net margin of 35.7% and excluding share-based
compensation, a non-GAAP net margin of 42.6%. Our solid cash
position and effective overall execution equip us to seize future
opportunities that foster our sustainable growth and generate value
for all of our stakeholders."
Second Quarter 2023 Financial Results
Revenues
Our revenues were US$79.2 million
in the second quarter of 2023, a 4.1% increase from US$76.1 million in the second 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 14.3% from 29.9 million in the second quarter of 2022
to 34.2 million in the second quarter of 2023. Our solid revenue
growth was also partially attributable to the significant increase
in the number of paying users, which grew from 10.6 million in the
second quarter of 2022 to 13.4 million in the second quarter of
2023.
In the second quarter of 2023, our revenues generated from
chatting services were US$55.2
million, and revenues from games services were US$24.0 million.
Costs and expenses
Our total costs and expenses remained relatively stable at
US$55.3 million in the second quarter
of 2023, compared with US$55.2 million in the second quarter
of 2022.
Our cost of revenues was US$28.3
million in the second quarter of 2023, a 3.2% decrease from
US$29.3 million in the same period
last year, primarily due to lower commission fees paid to
third-party payment platforms as a result of diversified payment
channels, and lower technical service fees resulting from more
disciplined management.
Cost of revenues as a percentage of our total revenues decreased
to 35.8% in the second quarter of 2023, compared with 38.5% in the
second quarter of 2022.
Our selling and marketing expenses were US$12.4 million in the second quarter of 2023, a
10.4% increase from US$11.2 million
in the same period last year, primarily due to higher advertising
and market promotion expenses driven by our continued user
acquisition efforts and expanding product portfolio. Selling and
marketing expenses as a percentage of our total revenues remained
relatively stable at 15.6%, compared with 14.7% in the second
quarter of 2022.
Our general and administrative expenses were US$8.0 million in the second quarter of 2023, a
15.4% increase from US$6.9 million in
the same period last year, primarily due to an increase in
incentive compensation and an increase in professional service
fees. General and administrative expenses as a percentage of our
total revenues remained relatively stable at 10.1%, compared with
9.1% in the second quarter of 2022.
Our technology and product development expenses were
US$6.6 million in the second quarter
of 2023, a 14.8% decrease from US$7.7
million in the same period last year, primarily due to the
appreciation of the U.S. dollars, which resulted in a decrease in
the reporting currency amount of salaries and benefits for our
technology and product development team, demonstrating benefits of
the Company's globalized talent acquisition strategy. Technology
and product development expenses as a percentage of our total
revenues decreased from 10.2% in the second quarter of 2022 to 8.3%
in the second quarter of 2023.
Operating income
Operating income was US$23.9
million in the second quarter of 2023, compared with
US$20.9 million in the second quarter
of 2022.
Non-GAAP operating income[6]
Non-GAAP operating income in the second quarter of 2023 was
US$29.4 million, compared with
US$29.2 million in the same period
last year.
Interest income
Our interest income was US$4.6
million in the second quarter of 2023, compared with
US$0.2 million in the second 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$0.82
million in the second quarter of 2023, compared with
US$0.78 million in the second quarter
of 2022.
Net income
As a result of the foregoing, our net income was US$28.3 million in the second quarter of 2023,
compared with US$20.4 million in the
second quarter of 2022.
Non-GAAP net income
Non-GAAP net income in the second quarter of 2023 was
US$33.8 million, compared with
US$28.6 million in the same period
last year.
Earnings per ordinary share
Basic and diluted earnings per ordinary share were US$0.19 and US$0.16, respectively, in the second quarter of
2023, while basic and diluted earnings per ordinary share were
US$0.14 and US$0.12, respectively, in the same period of
2022.
Non-GAAP earnings per ordinary
share[7]
Non-GAAP basic and diluted earnings per ordinary share were
US$0.22 and US$0.19, respectively, in the second quarter of
2023, compared with US$0.19 and
US$0.16, respectively, in the same
period of 2022.
Cash and cash equivalents, term deposits and short-term
investments
As of June 30, 2023, we had cash
and cash equivalents, term deposits and short-term investments of
US$510.5 million, compared with
US$453.0 million as of December 31, 2022.
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, the
Company completed cash repurchases in the open market of 2,302,141
American depositary shares ("ADSs"), representing 2,302,141 Class A
ordinary shares, for an aggregate amount of approximately
US$27.0 million, as of
June 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$123.0 million as of June 30, 2023.
Outlook
For the third quarter of 2023, Yalla currently expects revenues
to be between US$73.0 million and
US$80.0million.
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.
|
[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.
|
Conference Call
The Company's management will host an earnings conference call
on Monday, August 14, 2023, at
8:00 PM U.S. Eastern Time,
Tuesday, August 15, 2023, at
4:00 AM Dubai Time, or Tuesday, August 15, 2023, at 8:00 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:
|
8369149
|
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
August 21, 2023, by dialing the
following telephone numbers:
|
United States Toll
Free:
|
+1-877-344-7529
|
|
International:
|
+1-412-317-0088
|
|
Access Code:
|
1131608
|
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; Waha, a social networking product featuring 3-D avatars;
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
|
|
|
June 30,
2023
|
|
|
|
US$
|
|
|
US$
|
|
|
ASSETS
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
407,256,837
|
|
|
|
305,819,389
|
|
|
Term
deposits
|
|
|
20,000,000
|
|
|
|
191,761,209
|
|
|
Short-term
investments
|
|
|
25,788,304
|
|
|
|
12,952,035
|
|
|
Amounts due from a
related party
|
|
|
—
|
|
|
|
136,608
|
|
|
Prepayments and other
current assets
|
|
|
28,652,840
|
|
|
|
35,435,305
|
|
|
Total current
assets
|
|
|
481,697,981
|
|
|
|
546,104,546
|
|
|
Non-current
assets
|
|
|
|
|
|
|
|
Property and equipment,
net
|
|
|
2,121,613
|
|
|
|
2,101,182
|
|
|
Intangible asset,
net
|
|
|
1,328,470
|
|
|
|
1,240,710
|
|
|
Operating lease
right-of-use assets
|
|
|
1,950,364
|
|
|
|
3,202,752
|
|
|
Long-term
investments
|
|
|
3,833,750
|
|
|
|
3,819,565
|
|
|
Other assets
|
|
|
15,406,078
|
|
|
|
15,080,631
|
|
|
Total non-current
assets
|
|
|
24,640,275
|
|
|
|
25,444,840
|
|
|
Total
assets
|
|
|
506,338,256
|
|
|
|
571,549,386
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
Accounts
payable
|
|
|
5,382,276
|
|
|
|
1,268,107
|
|
|
Deferred
revenue
|
|
|
35,957,485
|
|
|
|
43,998,842
|
|
|
Operating lease
liabilities, current
|
|
|
858,452
|
|
|
|
1,293,977
|
|
|
Accrued expenses and
other current liabilities
|
|
|
22,821,168
|
|
|
|
24,251,003
|
|
|
Total current
liabilities
|
|
|
65,019,381
|
|
|
|
70,811,929
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
|
Operating lease
liabilities, non-current
|
|
|
744,612
|
|
|
|
1,678,544
|
|
|
Amounts due to a
related party
|
|
|
709,789
|
|
|
|
647,575
|
|
|
Total non-current
liabilities
|
|
|
1,454,401
|
|
|
|
2,326,119
|
|
|
Total
liabilities
|
|
|
66,473,782
|
|
|
|
73,138,048
|
|
|
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
|
|
Shareholders' equity
of Yalla Group Limited
|
|
|
|
|
|
|
|
Class A Ordinary
Shares
|
|
|
13,356
|
|
|
|
13,670
|
|
|
Class B Ordinary
Shares
|
|
|
2,473
|
|
|
|
2,473
|
|
|
Additional paid-in
capital
|
|
|
294,406,395
|
|
|
|
306,177,968
|
|
|
Treasury
stock
|
|
|
(27,014,697)
|
|
|
|
(27,014,697)
|
|
|
Accumulated other
comprehensive loss
|
|
|
(1,701,111)
|
|
|
|
(3,097,167)
|
|
|
Retained
earnings
|
|
|
174,880,748
|
|
|
|
224,812,958
|
|
|
Total shareholders'
equity of Yalla Group Limited
|
|
|
440,587,164
|
|
|
|
500,895,205
|
|
|
Non-controlling
interests
|
|
|
(722,690)
|
|
|
|
(2,483,867)
|
|
|
Total
equity
|
|
|
439,864,474
|
|
|
|
498,411,338
|
|
|
Total liabilities
and equity
|
|
|
506,338,256
|
|
|
|
571,549,386
|
|
|
YALLA GROUP LIMITED
|
|
UNAUDITED CONDENSED CONSOLIDATED
STATEMENTS
|
|
OF OPERATIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
|
June 30, 2022
|
|
March 31, 2023
|
|
June 30, 2023
|
|
June 30, 2022
|
|
June 30, 2023
|
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
Revenues
|
|
76,090,799
|
|
73,518,613
|
|
79,246,363
|
|
148,428,081
|
|
152,764,976
|
|
Costs and expenses
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(29,272,347)
|
|
(27,852,477)
|
|
(28,330,815)
|
|
(56,800,337)
|
|
(56,183,292)
|
|
Selling and marketing
expenses
|
|
(11,208,074)
|
|
(11,354,975)
|
|
(12,378,490)
|
|
(23,734,535)
|
|
(23,733,465)
|
|
General and
administrative expenses
|
|
(6,945,989)
|
|
(10,164,394)
|
|
(8,018,573)
|
|
(14,973,859)
|
|
(18,182,967)
|
|
Technology and product
development expenses
|
|
(7,726,715)
|
|
(7,411,188)
|
|
(6,586,078)
|
|
(13,711,283)
|
|
(13,997,266)
|
|
Total costs and expenses
|
|
(55,153,125)
|
|
(56,783,034)
|
|
(55,313,956)
|
|
(109,220,014)
|
|
(112,096,990)
|
|
Operating income
|
|
20,937,674
|
|
16,735,579
|
|
23,932,407
|
|
39,208,067
|
|
40,667,986
|
|
Interest
income
|
|
176,432
|
|
3,118,289
|
|
4,623,275
|
|
227,551
|
|
7,741,564
|
|
Government
grants
|
|
1,847
|
|
177,659
|
|
4,560
|
|
160,532
|
|
182,219
|
|
Investment income
(loss)
|
|
17,674
|
|
491,889
|
|
529,308
|
|
(150,771)
|
|
1,021,197
|
|
Income before income taxes
|
|
21,133,627
|
|
20,523,416
|
|
29,089,550
|
|
39,445,379
|
|
49,612,966
|
|
Income tax
expense
|
|
(780,211)
|
|
(616,358)
|
|
(821,149)
|
|
(1,393,656)
|
|
(1,437,507)
|
|
Net income
|
|
20,353,416
|
|
19,907,058
|
|
28,268,401
|
|
38,051,723
|
|
48,175,459
|
|
Net loss attributable
to non-controlling interests
|
|
236,433
|
|
554,591
|
|
1,202,160
|
|
314,597
|
|
1,756,751
|
|
Net income
attributable to Yalla Group
Limited's shareholders
|
|
20,589,849
|
|
20,461,649
|
|
29,470,561
|
|
38,366,320
|
|
49,932,210
|
|
Earnings per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
0.14
|
|
0.13
|
|
0.19
|
|
0.25
|
|
0.32
|
|
——Diluted
|
|
0.12
|
|
0.11
|
|
0.16
|
|
0.22
|
|
0.28
|
|
Weighted average number of
shares
|
|
|
|
|
|
|
|
|
|
|
|
outstanding used in computing earnings
|
|
|
|
|
|
|
|
|
|
|
|
per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
151,384,789
|
|
157,976,350
|
|
158,871,859
|
|
150,771,175
|
|
158,424,104
|
|
——Diluted
|
|
175,146,529
|
|
180,517,715
|
|
180,752,549
|
|
175,847,551
|
|
180,635,132
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
Six Months Ended
|
|
|
June 30, 2022
|
|
March 31, 2023
|
|
June 30, 2023
|
|
June 30, 2022
|
|
June 30, 2023
|
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
Cost of
revenues
|
|
1,404,341
|
|
1,030,249
|
|
923,513
|
|
2,848,661
|
|
1,953,762
|
|
Selling and marketing
expenses
|
|
1,850,318
|
|
971,335
|
|
1,014,371
|
|
3,696,912
|
|
1,985,706
|
|
General and
administrative expenses
|
|
4,663,550
|
|
3,245,278
|
|
3,242,981
|
|
9,326,219
|
|
6,488,259
|
|
Technology and product
development expenses
|
|
357,487
|
|
349,277
|
|
315,173
|
|
668,929
|
|
664,450
|
|
Total share-based compensation
expenses
|
|
8,275,696
|
|
5,596,139
|
|
5,496,038
|
|
16,540,721
|
|
11,092,177
|
|
YALLA GROUP
LIMITED
|
|
|
RECONCILIATIONS OF
GAAP AND NON-GAAP RESULTS
|
|
|
|
|
|
Three Months
Ended
|
|
|
Six Months
Ended
|
|
|
|
June 30,
2022
|
|
|
March 31,
2023
|
|
|
June 30,
2023
|
|
|
June 30,
2022
|
|
|
June 30,
2023
|
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
Operating
income
|
|
|
20,937,674
|
|
|
|
16,735,579
|
|
|
|
23,932,407
|
|
|
|
39,208,067
|
|
|
|
40,667,986
|
|
|
Share-based
compensation expenses
|
|
|
8,275,696
|
|
|
|
5,596,139
|
|
|
|
5,496,038
|
|
|
|
16,540,721
|
|
|
|
11,092,177
|
|
|
Non-GAAP operating
income
|
|
|
29,213,370
|
|
|
|
22,331,718
|
|
|
|
29,428,445
|
|
|
|
55,748,788
|
|
|
|
51,760,163
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
20,353,416
|
|
|
|
19,907,058
|
|
|
|
28,268,401
|
|
|
|
38,051,723
|
|
|
|
48,175,459
|
|
|
Share-based
compensation expenses,
net of tax effect of nil
|
|
|
8,275,696
|
|
|
|
5,596,139
|
|
|
|
5,496,038
|
|
|
|
16,540,721
|
|
|
|
11,092,177
|
|
|
Non-GAAP net
income
|
|
|
28,629,112
|
|
|
|
25,503,197
|
|
|
|
33,764,439
|
|
|
|
54,592,444
|
|
|
|
59,267,636
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable
to Yalla
Group Limited's shareholders
|
|
|
20,589,849
|
|
|
|
20,461,649
|
|
|
|
29,470,561
|
|
|
|
38,366,320
|
|
|
|
49,932,210
|
|
|
Share-based
compensation expenses,
net of tax effect of nil
|
|
|
8,275,696
|
|
|
|
5,596,139
|
|
|
|
5,496,038
|
|
|
|
16,540,721
|
|
|
|
11,092,177
|
|
|
Non-GAAP net income
attributable to
Yalla Group Limited's shareholders
|
|
|
28,865,545
|
|
|
|
26,057,788
|
|
|
|
34,966,599
|
|
|
|
54,907,041
|
|
|
|
61,024,387
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
0.19
|
|
|
|
0.16
|
|
|
|
0.22
|
|
|
|
0.36
|
|
|
|
0.39
|
|
|
——Diluted
|
|
|
0.16
|
|
|
|
0.14
|
|
|
|
0.19
|
|
|
|
0.31
|
|
|
|
0.34
|
|
|
Weighted average
number of shares
outstanding used in computing earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
151,384,789
|
|
|
|
157,976,350
|
|
|
|
158,871,859
|
|
|
|
150,771,175
|
|
|
|
158,424,104
|
|
|
——Diluted
|
|
|
175,146,529
|
|
|
|
180,517,715
|
|
|
|
180,752,549
|
|
|
|
175,847,551
|
|
|
|
180,635,132
|
|
View original
content:https://www.prnewswire.com/news-releases/yalla-group-limited-announces-unaudited-second-quarter-2023-financial-results-301899666.html
SOURCE Yalla Group Limited