SINGAPORE--(BUSINESS WIRE)--Mobvista (1860.HK), a leading global marketing and advertising technology company, has released its financial results for the six months ended June 30, 2024. The company achieved impressive growth, partly driven by the strategic application of machine learning.
Financial Highlights:
- Group revenue of $638.3 million, representing a year-on-year (YoY) increase of 26.1%.
- Group gross profit of $131.2 million, up 27.4% YoY.
- Group Adjusted EBITDA of $62.9 million, up 21.4% YoY.
- Subsidiary Mintegral, a leading programmatic advertising platform, set a new revenue record of $603.7 million, marking a 29.0% YoY increase.
- Mintegral's quarterly revenue YoY growth rate further accelerated to 32.4%.
Programmatic Ad Highlights
During the reporting period, Mintegral has significantly enhanced its intelligent UA with the refinement of machine learning-based bidding strategies. The innovative solutions of Target ROAS and Target CPE (recently updated) have driven substantial revenue growth, with smart bidding products contributing over 60% of total revenue for the period.
The newly upgraded model, Target CPE (Cost Per Engagement), helps advertisers achieve lifetime value (LTV) goals based on machine learning model predictions. It is said that Mintegral customers using this model have already experienced increases of up to 20% in ROI.
In general, Mobvista has achieved a remarkable seven consecutive quarters of profitability, with revenue showcasing a consistent upward trend.
For more information, visit Mobvista's Investor Relations website.
About Mobvista
Mobvista is a leading mobile technology company providing a complete suite of advertising and analytics tools for app developers and marketers seeking global growth. With our range of tailored solutions, such as user acquisition, monetization, analytics, creative automation, and cross-channel media buying, Mobvista enables developers to maximize their potential.
