DUBAI, UAE, Aug. 8, 2022
/PRNewswire/ -- Yalla Group Limited ("Yalla" or the "Company")
(NYSE: YALA), the leading voice-centric social networking and
entertainment platform in the Middle
East and North Africa
(MENA), today announced its unaudited financial results for the
second quarter ended June 30,
2022.
Second Quarter 2022 Financial and Operating
Highlights
- Revenues were US$76.1 million in the second quarter of
2022, representing an increase of 14.2% from the second quarter of
2021.
- Revenues generated from chatting services in the second quarter
of 2022 were US$52.7 million.
- Revenues generated from games services in the second
quarter of 2022 were US$23.3
million.
- Net income was US$20.4
million in the second quarter of 2022, compared with net
income of US$18.4 million in the
second quarter of 2021. Net margin[1] was 26.7% in the
second quarter of 2022.
- Non-GAAP net income[2] was US$28.6 million in the second quarter of 2022,
compared with non-GAAP net income of US$32.1
million in the second quarter of 2021. Non-GAAP net
margin[3] was 37.6% in the second quarter of 2022.
- Average MAUs[4] increased by 35.6% to
29.9 million in the second quarter of 2022 from 22.1 million in the
second quarter of 2021.
- The number of paying users[5] on our
platform increased by 65.3% to 10.6 million in the second quarter
of 2022 from 6.4 million in the second quarter of 2021.
|
[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
"Reconciliation 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
and Yalla Ludo have been our main mobile applications since the
beginning of the periods presented herein, and Yalla Parchis has
been a main mobile application of our company since the third
quarter of 2021.
|
|
[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.
|
|
Key Operating
Data
|
For the three months
ended
|
|
June 30,
2021
|
|
|
June 30,
2022
|
|
|
|
|
|
|
Average MAUs (in
thousands)
|
|
22,060
|
|
|
29,920
|
|
|
|
|
|
|
Paying users (in
thousands)
|
|
6,405
|
|
|
10,585
|
"We are pleased to have achieved another solid quarter with
total revenues of US$76.1 million,
exceeding the top end of our guidance by 8.7% and marking another
quarterly revenue record for Yalla Group despite the Ramadan
holiday," said Mr. Yang Tao,
Founder, Chairman and CEO of Yalla. "Such strong quarterly results
demonstrate our operational success in refining processes,
enhancing the gamification of our flagship applications and
optimizing user acquisition. These actions have holistically
elevated our user experience, further boosting user engagement on
Yalla and Yalla Ludo as well as users' willingness to pay on our
platforms, evidenced by an increase in our group's paying users to
10.6 million, up 65.3% year-over-year. This quarter we continued to
roll out iterations for our IM product YallaChat, adding unique and
innovative features catering to local users' demands, while working
to deepen synergies among our products and services to build our
users' stickiness and brand loyalty. Our casual games portfolio,
including Yalla Parchis, 101 Okey Yalla and Yalla Baloot, also
performed well, with user retention and average time spent per day
steadily increasing, thanks to our new VIP subscription and battle
pass launched during the quarter.
"We recently celebrated the 6th anniversary of Yalla,
our group's first product and a pioneering application designed to
mirror, preserve and nurture MENA's unique social traditions in the
digital era. Over the ensuing half decade, we have deepened our
commitment to MENA, its people and its culture, conceiving new
products to meet MENA users' evolving needs and propelling
digitalization throughout the region. Meanwhile, we have emerged as
a tech industry leader, elevating MENA's role in driving innovation
and progress worldwide. Our contributions to MENA and the broader
industry are strongly aligned with our core values of
"Multicultural Understanding," "User First," "Simple," and "Target"
– values that will remain at the heart of everything we do as we
strive to realize our vision of building the most popular
destination for online social networking and entertainment
activities in MENA," Mr. Yang concluded.
"We delivered a strong financial performance in the second
quarter, with group revenues reaching a record US$76.1 million, up 14.2% year-over-year, despite
the soft macro environment," said Ms. Karen
Hu, Chief Financial Officer of Yalla. "With our operational
refinements, our group's paying users grew robustly, driving our
paying ratio to 35.4%. While we continued to invest in initiatives
to expand our Yalla ecosystem, with a disciplined approach to
managing expenses and an ROI-based sales and marketing strategy, we
also maintained our healthy profitability level with a GAAP net
margin of 26.7% and excluding share-based compensation, a non-GAAP
net margin of 37.6%. Going forward, we will continue with our
efforts to expand our user base, improve operational efficiency,
and optimize our resource allocation for quality investment, to
drive long-term growth while delivering sustainable returns to our
partners."
Second Quarter 2022 Financial Results
Revenues
Our revenues were US$76.1 million
in the second quarter of 2022, a 14.2% increase from US$66.6 million in the second quarter of 2021.
The increase was primarily driven by the broadening of our user
base and our enhanced monetization capability. Our average MAUs
increased by 35.6%, from 22.1 million in the second quarter of 2021
to 29.9 million in the second quarter of 2022. Another primary
contributor to our solid revenue growth was the significant rise in
the number of paying users, which increased from 6.4 million in the
second quarter of 2021 to 10.6 million in the second quarter of
2022.
In the second quarter of 2022, our revenues generated from
chatting services were US$52.7
million, and revenues from games services were US$23.3 million.
Costs and expenses
Our total costs and expenses were US$55.2
million in the second quarter of 2022, compared with
US$47.8 million in the second quarter
of 2021.
Our cost of revenues was US$29.3
million in the second quarter of 2022, a 23.0% increase from
US$23.8 million in the same period
last year, primarily due to an increase in technical service fees
resulting from the expansion of our product portfolio and an
increase in salaries and benefits resulting from the expansion of
the operation and maintenance team. Cost of revenues as a
percentage of our total revenues increased from 35.7% in the second
quarter of 2021 to 38.5% in the second quarter of 2022.
Our selling and marketing expenses were US$11.2 million in the second quarter of 2022, a
14.8% increase from US$9.8 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 were 14.7% in the
second quarter of 2022, increasing slightly from 14.6% in the
second quarter of 2021. The ratio declined from 17.3% in the first
quarter of 2022, driven by our more disciplined advertising and
promotion approach.
Our general and administrative expenses were US$6.9 million in the second quarter of 2022, a
37.4% decrease from US$11.1 million
in the same period last year, primarily due to lower share-based
compensation expenses recognized during the second quarter of 2022.
General and administrative expenses as a percentage of our total
revenues decreased from 16.7% in the second quarter of 2021 to 9.1%
in the second quarter of 2022.
Our technology and product development expenses were
US$7.7 million in the second quarter
of 2022, a 144.0% increase from US$3.2
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 4.8% in the second quarter of 2021 to
10.2% in the second quarter of 2022.
Operating income
Operating income was US$20.9
million in the second quarter of 2022, compared with
operating income of US$18.8 million
in the second quarter of 2021.
Non-GAAP operating
income[6]
Non-GAAP operating income (which excluded share-based
compensation expenses) in the second quarter of 2022 was
US$29.2 million, compared with
non-GAAP operating income of US$32.5
million in the same period last year.
Income tax expense
Our income tax expense was US$0.78
million in the second quarter of 2022, compared with
US$0.38 million in the second quarter
of 2021.
Net income
As a result of the foregoing, our net income was US$20.4 million in the second quarter of 2022,
compared with a net income of US$18.4
million in the second quarter of 2021.
Non-GAAP net income
Non-GAAP net income (which excluded share-based compensation
expenses) in the second quarter of 2022 was US$28.6 million, compared with non-GAAP net
income of US$32.1 million in the same
period last year.
Earnings per ordinary share
Basic and diluted earnings per ordinary share were US$0.14 and US$0.12
respectively in the second quarter of 2022, while basic and diluted
earnings per ordinary share were US$0.12 and US$0.10
respectively in the same period of 2021.
|
[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 "Reconciliation of GAAP and Non-GAAP Results" for more
information about the non-GAAP measures referred to in this press
release.
|
Non-GAAP earnings per ordinary
share[7]
Non-GAAP basic and diluted earnings per ordinary share were
US$0.19 and US$0.16 respectively in the second quarter of
2022, compared with US$0.22 and
US$0.18 respectively in the same
period of 2021.
Cash and cash equivalents
As of June 30, 2022, we had cash
and cash equivalents of US$384.9
million, compared with cash and cash equivalents of
US$367.5 million as of March 31, 2022.
Share repurchase program
Pursuant to the share repurchase program announced on
May 21, 2021, with an extended
expiration date of May 21, 2023, the
Company has repurchased 1,903,205 American depositary shares
("ADSs") as of June 30, 2022,
representing 1,903,205 Class A ordinary shares from the open market
with cash for an aggregate amount of approximately US$25.4 million. The aggregate value of ADSs
and/or Class A ordinary shares that may yet be purchased under the
share repurchase program was US$124.6 million as
of June 30, 2022.
Outlook
For the third quarter of 2022, the management of the Company
currently expects revenues to be between US$70.0 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.
|
[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 "Reconciliation
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 8, 2022, at
8:00 P.M. U.S. Eastern Time, Tuesday,
August 9, 2022, at 4:00 A.M.
Dubai Time, or Tuesday, August 9,
2022, 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:
|
3596789
|
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website at
https://ir.yallagroup.com.
A replay of the conference call will be accessible until
August 15, 2022, by dialing the
following telephone numbers:
|
United States Toll
Free:
|
+1-877-344-7529
|
|
International:
|
+1-412-317-0088
|
|
Access Code:
|
6958460
|
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.
Reconciliation of GAAP and non-GAAP results is set forth at the
end of this press release.
About Yalla Group Limited
Yalla Group Limited is the largest voice-centric social
networking and entertainment platform in the Middle East and Northern Africa (MENA). 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 has expanded its content,
creating a regionally-focused, integrated ecosystem dedicated to
fulfilling MENA users' evolving online social networking and
entertainment needs. The ecosystem includes YallaChat, an IM
product tailored for Arabic users; Waha, a social networking
product designed for the metaverse; and games such as Yalla Baloot
and 101 Okey Yalla, developed to sustain vibrant local gaming
communities in the region. Yalla is also actively exploring outside
of MENA, having launched 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 its users. In addition, through its holding
subsidiary, Yalla Game Limited, the Company has expanded its
capabilities in mid-core and hard-core game distribution in the
MENA region, leveraging its local expertise to bring exciting new
content to its users.
For more information, please visit:
https://ir.yallagroup.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@yallatech.ae
The Piacente Group, Inc.
Yang Song
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,
2021
|
|
June 30,
2022
|
|
|
US$
|
|
US$
|
|
ASSETS
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
|
351,485,602
|
|
384,907,311
|
|
Short-term
investments
|
|
2,906,344
|
|
10,717,553
|
|
Prepayments and other
current assets
|
|
21,957,230
|
|
30,944,219
|
|
Total current
assets
|
|
376,349,176
|
|
426,569,083
|
|
Non-current
assets
|
|
|
|
|
|
Property and equipment,
net
|
|
1,832,952
|
|
2,441,865
|
|
Operating lease
right-of-use assets
|
|
857,474
|
|
1,552,952
|
|
Long-term
investments
|
|
1,768,455
|
|
2,435,003
|
|
Other assets
|
|
—
|
|
8,475,720
|
|
Total non-current
assets
|
|
4,458,881
|
|
14,905,540
|
|
Total
assets
|
|
380,808,057
|
|
441,474,623
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Accounts
payable
|
|
4,392,330
|
|
4,073,353
|
|
Deferred
revenue
|
|
24,971,203
|
|
31,220,516
|
|
Operating lease
liabilities, current
|
|
472,734
|
|
761,811
|
|
Accrued expenses and
other current liabilities
|
|
14,896,134
|
|
14,124,095
|
|
Total current
liabilities
|
|
44,732,401
|
|
50,179,775
|
|
Non-current
liabilities
|
|
|
|
|
|
Operating lease
liabilities, non-current
|
|
195,596
|
|
580,474
|
|
Amounts due to a
related party
|
|
—
|
|
740,784
|
|
Total non-current
liabilities
|
|
195,596
|
|
1,321,258
|
|
Total
liabilities
|
|
44,927,997
|
|
51,501,033
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
Shareholders' equity
of Yalla Group Limited
|
|
|
|
|
|
Class A Ordinary
Shares
|
|
12,484
|
|
12,790
|
|
Class B Ordinary
Shares
|
|
2,473
|
|
2,473
|
|
Additional paid-in
capital
|
|
265,647,268
|
|
282,917,483
|
|
Treasury
stock
|
|
(25,419,808)
|
|
(25,419,808)
|
|
Accumulated other
comprehensive income (loss)
|
|
520,010
|
|
(708,704)
|
|
Retained
earnings
|
|
95,123,951
|
|
133,490,271
|
|
Total shareholders'
equity of Yalla Group Limited
|
|
335,886,378
|
|
390,294,505
|
|
Non-controlling
interests
|
|
(6,318)
|
|
(320,915)
|
|
Total
equity
|
|
335,880,060
|
|
389,973,590
|
|
Total liabilities
and equity
|
|
380,808,057
|
|
441,474,623
|
|
YALLA GROUP
LIMITED
|
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS
|
|
OF
OPERATIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
|
June 30,
2021
|
|
March 31,
2022
|
|
June 30,
2022
|
|
June 30,
2021
|
|
June 30,
2022
|
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
Revenues
|
|
66,620,081
|
|
72,337,282
|
|
76,090,799
|
|
134,269,175
|
|
148,428,081
|
|
Costs and
expenses
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(23,801,291)
|
|
(27,527,990)
|
|
(29,272,347)
|
|
(47,801,763)
|
|
(56,800,337)
|
|
Selling and marketing
expenses
|
|
(9,759,209)
|
|
(12,526,461)
|
|
(11,208,074)
|
|
(18,118,613)
|
|
(23,734,535)
|
|
General and
administrative expenses
|
|
(11,097,857)
|
|
(8,027,870)
|
|
(6,945,989)
|
|
(22,811,596)
|
|
(14,973,859)
|
|
Technology and product
development expenses
|
|
(3,167,186)
|
|
(5,984,568)
|
|
(7,726,715)
|
|
(6,509,745)
|
|
(13,711,283)
|
|
Total costs and
expenses
|
|
(47,825,543)
|
|
(54,066,889)
|
|
(55,153,125)
|
|
(95,241,717)
|
|
(109,220,014)
|
|
Operating
income
|
|
18,794,538
|
|
18,270,393
|
|
20,937,674
|
|
39,027,458
|
|
39,208,067
|
|
Interest
income
|
|
27,622
|
|
51,119
|
|
176,432
|
|
36,467
|
|
227,551
|
|
Government
grants
|
|
—
|
|
158,685
|
|
1,847
|
|
13,809
|
|
160,532
|
|
Investment income
(loss)
|
|
(61,109)
|
|
(168,445)
|
|
17,674
|
|
(58,947)
|
|
(150,771)
|
|
Income before income
taxes
|
|
18,761,051
|
|
18,311,752
|
|
21,133,627
|
|
39,018,787
|
|
39,445,379
|
|
Income tax
expense
|
|
(379,810)
|
|
(613,445)
|
|
(780,211)
|
|
(807,782)
|
|
(1,393,656)
|
|
Net
income
|
|
18,381,241
|
|
17,698,307
|
|
20,353,416
|
|
38,211,005
|
|
38,051,723
|
|
Net loss attributable
to non-controlling interests
|
|
—
|
|
78,164
|
|
236,433
|
|
—
|
|
314,597
|
|
Net income
attributable to Yalla Group
Limited's shareholders
|
|
18,381,241
|
|
17,776,471
|
|
20,589,849
|
|
38,211,005
|
|
38,366,320
|
|
YALLA GROUP
LIMITED
|
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS
|
|
OF OPERATIONS
(CONTINUED)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
|
June 30,
2021
|
|
March 31,
2022
|
|
June 30,
2022
|
|
June 30,
2021
|
|
June 30,
2022
|
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
Earnings per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
0.12
|
|
0.12
|
|
0.14
|
|
0.26
|
|
0.25
|
|
——Diluted
|
|
0.10
|
|
0.10
|
|
0.12
|
|
0.21
|
|
0.22
|
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
|
|
|
outstanding used in computing earnings
|
|
|
|
|
|
|
|
|
|
|
per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
148,250,483
|
|
150,157,560
|
|
151,384,789
|
|
147,784,840
|
|
150,771,175
|
|
——Diluted
|
|
182,412,439
|
|
176,548,571
|
|
175,146,529
|
|
181,228,782
|
|
175,847,551
|
|
|
|
|
|
|
|
|
|
|
|
|
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,
2021
|
|
March 31,
2022
|
|
June 30,
2022
|
|
June 30,
2021
|
|
June 30,
2022
|
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
Cost of
revenues
|
|
1,692,114
|
|
1,444,320
|
|
1,404,341
|
|
3,401,688
|
|
2,848,661
|
|
Selling and marketing
expenses
|
|
3,228,042
|
|
1,846,594
|
|
1,850,318
|
|
6,456,084
|
|
3,696,912
|
|
General and
administrative expenses
|
|
8,703,238
|
|
4,662,669
|
|
4,663,550
|
|
17,407,104
|
|
9,326,219
|
|
Technology and product
development expenses
|
|
131,784
|
|
311,442
|
|
357,487
|
|
265,615
|
|
668,929
|
|
YALLA GROUP
LIMITED
|
|
RECONCILIATIONS OF
GAAP AND NON-GAAP RESULTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
|
June 30,
2021
|
|
March 31,
2022
|
|
June 30,
2022
|
|
June 30,
2021
|
|
June 30,
2022
|
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
Operating
income
|
|
18,794,538
|
|
18,270,393
|
|
20,937,674
|
|
39,027,458
|
|
39,208,067
|
|
Share-based
compensation expenses
|
|
13,755,178
|
|
8,265,025
|
|
8,275,696
|
|
27,530,491
|
|
16,540,721
|
|
Non-GAAP operating
income
|
|
32,549,716
|
|
26,535,418
|
|
29,213,370
|
|
66,557,949
|
|
55,748,788
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
18,381,241
|
|
17,698,307
|
|
20,353,416
|
|
38,211,005
|
|
38,051,723
|
|
Share-based
compensation expenses
|
|
13,755,178
|
|
8,265,025
|
|
8,275,696
|
|
27,530,491
|
|
16,540,721
|
|
Non-GAAP net
income
|
|
32,136,419
|
|
25,963,332
|
|
28,629,112
|
|
65,741,496
|
|
54,592,444
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable
to Yalla
Group Limited's shareholders
|
|
18,381,241
|
|
17,776,471
|
|
20,589,849
|
|
38,211,005
|
|
38,366,320
|
|
Share-based
compensation expenses
|
|
13,755,178
|
|
8,265,025
|
|
8,275,696
|
|
27,530,491
|
|
16,540,721
|
|
Non-GAAP net income
attributable to
Yalla Group Limited's shareholders
|
|
32,136,419
|
|
26,041,496
|
|
28,865,545
|
|
65,741,496
|
|
54,907,041
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
0.22
|
|
0.17
|
|
0.19
|
|
0.44
|
|
0.36
|
|
——Diluted
|
|
0.18
|
|
0.15
|
|
0.16
|
|
0.36
|
|
0.31
|
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
|
|
|
outstanding used in computing earnings
|
|
|
|
|
|
|
|
|
|
|
per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
148,250,483
|
|
150,157,560
|
|
151,384,789
|
|
147,784,840
|
|
150,771,175
|
|
——Diluted
|
|
182,412,439
|
|
176,548,571
|
|
175,146,529
|
|
181,228,782
|
|
175,847,551
|
View original
content:https://www.prnewswire.com/news-releases/yalla-group-limited-announces-unaudited-second-quarter-2022-financial-results-301601434.html
SOURCE Yalla Group Limited