SINGAPORE--(BUSINESS WIRE)--Mobvista (1860.HK), a leading global marketing and advertising technology company, has released its financial results for the three months and nine months ended September 30, 2024.
The company achieved remarkable growth in Q3 2024 fueled by strategic use of machine learning.
Financial Highlights:
- Group revenue of $416.5 million, representing a year-on-year (YoY) increase of 54.6%.
- Group gross profit of $87.8 million, up 58.3% YoY.
- Group Adjusted EBITDA of $34.3 million, up 45.3% YoY.
- Mobvista subsidiary Mintegral, a leading programmatic advertising platform, set a new revenue record of $402.5 million — a 57.6% YoY increase.
Programmatic Ad Highlights
Mintegral's machine-learning-based smart bidding product has gained further traction amidst strong market validation. Our innovative Target ROAS solution has become a mainstream choice among app developers. In the first half of 2024, smart bidding products contributed over 60% of total revenue.
Mintegral’s cross-regional and cross-category traffic strength and campaign performance are increasingly recognized by advertisers as an essential avenue for growth. In the Reporting Period, Mintegral’s gaming category recorded revenue of $294.5 million, a YoY increase of 46.5%. For non-gaming categories, advancements in smart bidding capabilities have been pivotal in helping Mintegral achieve breakthroughs. E-commerce emerged as an important driver, as Mintegral recorded non-gaming revenue of $108 million, a YoY increase of 98.5%.
In the recent AppsFlyer Performance Index 17, Mintegral has secured impressive rankings. The company's strong performance in gaming with #2 rankings in Android Casual, Sports, and Simulation genres, solidifies its position as a leading network. Mintegral further showcased impressive results in non-gaming categories, reaching an overall #5 position in the Volume ranking on Android.
Mintegral's retargeting capabilities, launched earlier this year, have yielded significant results. The company delivers strong performance among e-commerce customers, with a Volume ranking of #6 in APAC, demonstrating our ability to help businesses re-engage users and enhance lifetime value.
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.
