DUBAI, UAE, May 15, 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 first quarter
ended March 31, 2023.
First Quarter 2023 Financial and Operating Highlights
- Revenues were US$73.5
million in the first quarter of 2023, representing an
increase of 1.6% from the first quarter of 2022.
-
- Revenues generated from chatting services in the first quarter
of 2023 were US$50.4 million.
- Revenues generated from games services in the first quarter of
2023 were US$23.1 million.
- Net income was US$19.9
million in the first quarter of 2023, compared with
US$17.7 million in the first quarter
of 2022. Net margin[1] was 27.1% in the first quarter of
2023.
- Non-GAAP net income[2] was US$25.5 million in the first quarter of 2023,
compared with US$26.0 million in the
first quarter of 2022. Non-GAAP net margin[3] was 34.7%
in the first quarter of 2023.
- Average MAUs[4] increased by 12.9% to 33.0
million in the first quarter of 2023 from 29.2 million in the first
quarter of 2022.
- The number of paying users[5] on our platform
increased by 43.7% to 13.5 million in the first quarter of 2023
from 9.4 million in the first quarter of 2022.
|
Key Operating
Data
|
For the three months
ended
|
|
March 31,
2022
|
|
March 31,
2023
|
|
|
|
|
|
Average MAUs (in
thousands)
|
|
29,203
|
|
|
32,973
|
|
|
|
|
|
Paying users (in
thousands)
|
|
9,402
|
|
|
13,514
|
|
[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,
and YallaChat and 101 Okey Yalla have been our main mobile
applications since the fourth quarter of 2022.
[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.
|
"We started 2023 with a solid set of operational and financial
results. In the first quarter, despite the impact from Ramadan
beginning on March 23, our revenues
increased by 1.6% year-over-year to US$73.5
million, reaching the upper end of our guidance and once
again demonstrating the remarkable strength of our flagship
applications," said Mr. Yang Tao,
Founder, Chairman and CEO of Yalla. "We continued to
optimize our user acquisition strategies and further
strengthen user engagement, resulting in a solid increase in
our group's average MAUs to 33.0 million for the first quarter, up
12.9% year-over-year. Our paying users also increased to 13.5
million, reflecting our enhanced monetization capabilities.
"In addition, we made meaningful strides in our gaming business.
In May, Yalla Game Limited officially launched its first
hard-core mobile game, "Age of Legends," a self-developed,
massively multi-player online role playing game tailored to MENA
users' preferences and cultural habits. We also continued to refine
and upgrade our popular casual game products, Yalla Parchis,
101 Okey Yalla and Yalla Baloot, with improved gamification
features and engaging themed events. As MENA's rich emerging
opportunities continue to attract attention from investors
worldwide, we will deepen our investment in R&D and
self-developed products while also exploring potential
collaborations with global internet companies, propelling progress
for Yalla, the industry and the MENA region," Mr. Yang
concluded.
"We were pleased to sustain our year-over-year revenue growth
momentum in the first quarter as we strove for high-quality
development and user growth," said Ms. Karen Hu, CFO of Yalla. "We also actively
refined our cost management, operations and processes to
improve overall efficiency. As a result, we maintained a healthy
level of profitability during the quarter, recording a net margin
of 27.1%, and excluding share-based compensation, a non-GAAP net
margin of 34.7%. Looking ahead, we are confident that our ample
cash position and strong overall execution will empower us to
capitalize on future opportunities, driving sustainable growth and
creating value for all of our stakeholders."
First Quarter 2023 Financial Results
Revenues
Our revenues were US$73.5 million
in the first quarter of 2023, a 1.6% increase from US$72.3 million in the first 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 12.9% from 29.2 million in the first quarter of 2022
to 33.0 million in the first quarter of 2023. Our solid revenue
growth was also partially attributable to the significant increase
in the number of paying users, which grew from 9.4 million in the
first quarter of 2022 to 13.5 million in the first quarter of
2023.
In the first quarter of 2023, our revenues generated from
chatting services were US$50.4
million, and revenues from games services were US$23.1 million.
Costs and expenses
Our total costs and expenses were US$56.8
million in the first quarter of 2023, compared with
US$54.1 million in the first quarter
of 2022. The increase was primarily due to our expanding business
scale.
Our cost of revenues was US$27.9
million in the first quarter of 2023, a 1.2% increase from
US$27.5 million in the same period
last year, primarily due to an increase in salaries and benefits
resulting from the expansion of the operation and maintenance team,
as well as an increase in technical service fees resulting from the
expansion of our product portfolio. Cost of revenues as a
percentage of our total revenues remained relatively stable at
37.9% in the first quarter of 2023, compared with 38.1% in the
first quarter of 2022.
Our selling and marketing expenses were US$11.4 million in the first quarter of 2023, a
9.4% decrease from US$12.5 million in
the same period last year, primarily due to our more disciplined
advertising and promotion approach. Selling and marketing expenses
as a percentage of our total revenues decreased from 17.3% in the
first quarter of 2022 to 15.4% in the first quarter of 2023.
Our general and administrative expenses were US$10.2 million in the first quarter of 2023, a
26.6% increase from US$8.0 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 increased from 11.1% in the first quarter of 2022 to
13.8% in the first quarter of 2023.
Our technology and product development expenses were
US$7.4 million in the first quarter
of 2023, a 23.8% increase from US$6.0
million in the same period last year, primarily due to an
increase in salaries and benefits for our technology and product
development staff, driven by an increase in the headcount of our
technology and product development staff to support the development
of new businesses and expansion of our product portfolio.
Technology and product development expenses as a percentage of our
total revenues increased from 8.3% in the first quarter of 2022 to
10.1% in the first quarter of 2023.
Operating income
Operating income was US$16.7
million in the first quarter of 2023, compared with
US$18.3 million in the first quarter
of 2022.
Non-GAAP operating income[6]
Non-GAAP operating income in the first quarter of 2023 was
US$22.3 million, compared with
US$26.5 million in the same period
last year.
Interest income
Our interest income was US$3.1
million in the first quarter of 2023, compared with
US$0.05 million in the first quarter
of 2022, primarily due to a significant increase in interest rates
that were applicable to our bank deposits and a continued increase
in the Company's cash position.
Income tax expense
Our income tax expense was US$0.62
million in the first quarter of 2023, compared with
US$0.61 million in the first quarter
of 2022.
Net income
As a result of the foregoing, our net income was US$19.9 million in the first quarter of 2023,
compared with US$17.7 million in the
first quarter of 2022.
Non-GAAP net income
Non-GAAP net income in the first quarter of 2023 was
US$25.5 million, compared with
US$26.0 million in the same period
last year.
Earnings per ordinary share
Basic and diluted earnings per ordinary share were US$0.13 and US$0.11
respectively in the first quarter of 2023, while basic and diluted
earnings per ordinary share were US$0.12 and US$0.10
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$0.16 and US$0.14 respectively in the first quarter of
2023, compared with US$0.17 and
US$0.15 respectively in the same
period of 2022.
Cash and cash equivalents
As of March 31, 2023, we had cash
and cash equivalents of US$435.6
million, compared with cash and cash equivalents of
US$407.3 million as of December 31, 2022.
Extension of the share repurchase program
Pursuant to the share repurchase program announced on
May 21, 2021, as of March 31,
2023, the Company has repurchased 2,302,141 American depositary
shares ("ADSs"), representing 2,302,141 Class A ordinary shares,
from the open market with cash for an aggregate amount of
approximately US$27.0 million. The
aggregate value of ADSs and/or Class A ordinary shares that may yet
be purchased under the share repurchase program was US$123.0 million as of March 31, 2023. Our
board of directors has approved an extension of the expiration date
of the share repurchase program to May 21, 2024.
Outlook
For the second quarter of 2023, the management of the Company
currently expects revenues to be between US$68.0 million and
US$75.0 million.
The above outlook is based on the 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 earnings per ordinary share 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.
|
Conference Call
The Company's management will host an earnings conference call
on Monday, May 15, 2023, at 8:00
P.M. U.S. Eastern Time, Tuesday, May 16, 2023, at
4:00 A.M. Dubai Time, or Tuesday,
May 16, 2023, at 8:00 A.M.
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:
|
1766138
|
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
May 22, 2023, by dialing the following telephone numbers:
|
United States Toll
Free:
|
+1-877-344-7529
|
|
International:
|
+1-412-317-0088
|
|
Access Code:
|
3796534
|
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; 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.
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
The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
Email: yalla@tpg-ir.com
In the United States:
The Piacente Group, Inc.
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
|
|
|
March 31,
2023
|
|
|
|
US$
|
|
|
US$
|
|
|
ASSETS
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
407,256,837
|
|
|
|
435,575,597
|
|
|
Term
deposits
|
|
|
20,000,000
|
|
|
|
20,000,000
|
|
|
Short-term
investments
|
|
|
25,788,304
|
|
|
|
15,848,321
|
|
|
Prepayments and other
current assets
|
|
|
28,652,840
|
|
|
|
29,595,909
|
|
|
Total current
assets
|
|
|
481,697,981
|
|
|
|
501,019,827
|
|
|
Non-current
assets
|
|
|
|
|
|
|
|
Property and equipment,
net
|
|
|
2,121,613
|
|
|
|
2,303,868
|
|
|
Intangible asset,
net
|
|
|
1,328,470
|
|
|
|
1,299,901
|
|
|
Operating lease
right-of-use assets
|
|
|
1,950,364
|
|
|
|
5,265,353
|
|
|
Long-term
investments
|
|
|
3,833,750
|
|
|
|
3,926,685
|
|
|
Other assets
|
|
|
15,406,078
|
|
|
|
16,048,054
|
|
|
Total non-current
assets
|
|
|
24,640,275
|
|
|
|
28,843,861
|
|
|
Total
assets
|
|
|
506,338,256
|
|
|
|
529,863,688
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
Accounts
payable
|
|
|
5,382,276
|
|
|
|
2,335,121
|
|
|
Deferred
revenue
|
|
|
35,957,485
|
|
|
|
39,467,736
|
|
|
Operating lease
liabilities, current
|
|
|
858,452
|
|
|
|
2,174,684
|
|
|
Accrued expenses and
other current liabilities
|
|
|
22,821,168
|
|
|
|
16,950,966
|
|
|
Total current
liabilities
|
|
|
65,019,381
|
|
|
|
60,928,507
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
|
Operating lease
liabilities, non-current
|
|
|
744,612
|
|
|
|
2,389,556
|
|
|
Amounts due to a
related party
|
|
|
709,789
|
|
|
|
717,325
|
|
|
Total non-current
liabilities
|
|
|
1,454,401
|
|
|
|
3,106,881
|
|
|
Total
liabilities
|
|
|
66,473,782
|
|
|
|
64,035,388
|
|
|
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
|
|
Shareholders' equity
of Yalla Group Limited
|
|
|
|
|
|
|
|
Class A Ordinary
Shares
|
|
|
13,356
|
|
|
|
13,381
|
|
|
Class B Ordinary
Shares
|
|
|
2,473
|
|
|
|
2,473
|
|
|
Additional paid-in
capital
|
|
|
294,406,395
|
|
|
|
300,039,340
|
|
|
Treasury
stock
|
|
|
(27,014,697)
|
|
|
|
(27,014,697)
|
|
|
Accumulated other
comprehensive loss
|
|
|
(1,701,111)
|
|
|
|
(1,296,965)
|
|
|
Retained
earnings
|
|
|
174,880,748
|
|
|
|
195,342,397
|
|
|
Total shareholders'
equity of Yalla Group Limited
|
|
|
440,587,164
|
|
|
|
467,085,929
|
|
|
Non-controlling
interests
|
|
|
(722,690)
|
|
|
|
(1,257,629)
|
|
|
Total
equity
|
|
|
439,864,474
|
|
|
|
465,828,300
|
|
|
Total liabilities
and equity
|
|
|
506,338,256
|
|
|
|
529,863,688
|
|
|
YALLA GROUP
LIMITED
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS
OF
OPERATIONS
|
|
|
|
Three Months
Ended
|
|
|
|
March 31,
2022
|
|
|
December 31,
2022
|
|
|
March 31,
2023
|
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
Revenues
|
|
|
72,337,282
|
|
|
|
75,113,791
|
|
|
|
73,518,613
|
|
|
Costs and
expenses
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
|
(27,527,990)
|
|
|
|
(27,439,485)
|
|
|
|
(27,852,477)
|
|
|
Selling and marketing
expenses
|
|
|
(12,526,461)
|
|
|
|
(14,254,031)
|
|
|
|
(11,354,975)
|
|
|
General and
administrative expenses
|
|
|
(8,027,870)
|
|
|
|
(13,040,902)
|
|
|
|
(10,164,394)
|
|
|
Technology and product
development expenses
|
|
|
(5,984,568)
|
|
|
|
(5,376,318)
|
|
|
|
(7,411,188)
|
|
|
Total costs and
expenses
|
|
|
(54,066,889)
|
|
|
|
(60,110,736)
|
|
|
|
(56,783,034)
|
|
|
Operating
income
|
|
|
18,270,393
|
|
|
|
15,003,055
|
|
|
|
16,735,579
|
|
|
Interest
income
|
|
|
51,119
|
|
|
|
2,295,844
|
|
|
|
3,118,289
|
|
|
Government
grants
|
|
|
158,685
|
|
|
|
110,258
|
|
|
|
177,659
|
|
|
Investment income
(loss)
|
|
|
(168,445)
|
|
|
|
277,122
|
|
|
|
491,889
|
|
|
Impairment
loss
|
|
|
—
|
|
|
|
(705,428)
|
|
|
|
—
|
|
|
Income before income
taxes
|
|
|
18,311,752
|
|
|
|
16,980,851
|
|
|
|
20,523,416
|
|
|
Income tax
expense
|
|
|
(613,445)
|
|
|
|
(416,342)
|
|
|
|
(616,358)
|
|
|
Net
income
|
|
|
17,698,307
|
|
|
|
16,564,509
|
|
|
|
19,907,058
|
|
|
Net loss attributable
to non-controlling interests
|
|
|
78,164
|
|
|
|
198,008
|
|
|
|
554,591
|
|
|
Net income
attributable to Yalla Group
Limited's shareholders
|
|
|
17,776,471
|
|
|
|
16,762,517
|
|
|
|
20,461,649
|
|
|
YALLA GROUP
LIMITED
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS
OF OPERATIONS
(CONTINUED)
|
|
|
|
Three Months
Ended
|
|
|
|
March 31,
2022
|
|
|
December 31,
2022
|
|
|
March 31,
2023
|
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
Earnings per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
0.12
|
|
|
|
0.11
|
|
|
|
0.13
|
|
|
——Diluted
|
|
|
0.10
|
|
|
|
0.09
|
|
|
|
0.11
|
|
|
Weighted average
number of shares
outstanding used in computing earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
150,157,560
|
|
|
|
157,373,645
|
|
|
|
157,976,350
|
|
|
——Diluted
|
|
|
176,548,571
|
|
|
|
177,515,233
|
|
|
|
180,517,715
|
|
|
|
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
|
|
|
|
March 31,
2022
|
|
|
|
December 31,
2022
|
|
|
|
March 31,
2023
|
|
|
|
|
US$
|
|
|
|
US$
|
|
|
|
US$
|
|
|
Cost of
revenues
|
|
|
1,444,320
|
|
|
|
884,691
|
|
|
|
1,030,249
|
|
|
Selling and marketing
expenses
|
|
|
1,846,594
|
|
|
|
1,019,064
|
|
|
|
971,335
|
|
|
General and
administrative expenses
|
|
|
4,662,669
|
|
|
|
2,963,686
|
|
|
|
3,245,278
|
|
|
Technology and product
development expenses
|
|
|
311,442
|
|
|
|
315,581
|
|
|
|
349,277
|
|
|
Total share-based
compensation expenses
|
|
|
8,265,025
|
|
|
|
5,183,022
|
|
|
|
5,596,139
|
|
|
YALLA GROUP
LIMITED
RECONCILIATIONS OF
GAAP AND NON-GAAP RESULTS
|
|
|
|
Three Months
Ended
|
|
|
|
March 31,
2022
|
|
|
December 31,
2022
|
|
|
March 31,
2023
|
|
|
|
US$
|
|
|
US$
|
|
|
US$
|
|
|
Operating
income
|
|
|
18,270,393
|
|
|
|
15,003,055
|
|
|
|
16,735,579
|
|
|
Share-based
compensation expenses
|
|
|
8,265,025
|
|
|
|
5,183,022
|
|
|
|
5,596,139
|
|
|
Non-GAAP operating
income
|
|
|
26,535,418
|
|
|
|
20,186,077
|
|
|
|
22,331,718
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
17,698,307
|
|
|
|
16,564,509
|
|
|
|
19,907,058
|
|
|
Share-based
compensation expenses, net of tax
effect of nil
|
|
|
8,265,025
|
|
|
|
5,183,022
|
|
|
|
5,596,139
|
|
|
Non-GAAP net
income
|
|
|
25,963,332
|
|
|
|
21,747,531
|
|
|
|
25,503,197
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable
to Yalla
Group Limited's shareholders
|
|
|
17,776,471
|
|
|
|
16,762,517
|
|
|
|
20,461,649
|
|
|
Share-based
compensation expenses, net of tax
effect of nil
|
|
|
8,265,025
|
|
|
|
5,183,022
|
|
|
|
5,596,139
|
|
|
Non-GAAP net income
attributable to
Yalla Group Limited's shareholders
|
|
|
26,041,496
|
|
|
|
21,945,539
|
|
|
|
26,057,788
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
0.17
|
|
|
|
0.14
|
|
|
|
0.16
|
|
|
——Diluted
|
|
|
0.15
|
|
|
|
0.12
|
|
|
|
0.14
|
|
|
Weighted average
number of shares
outstanding used in computing earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
|
150,157,560
|
|
|
|
157,373,645
|
|
|
|
157,976,350
|
|
|
——Diluted
|
|
|
176,548,571
|
|
|
|
177,515,233
|
|
|
|
180,517,715
|
|
View original
content:https://www.prnewswire.com/news-releases/yalla-group-limited-announces-unaudited-first-quarter-2023-financial-results-301824491.html
SOURCE Yalla Group Limited