Financial Performance - For the three months ended March 31, 2024, Mobvista reported total revenue of $301.5 million, a year-over-year increase of 23.3% and a quarter-over-quarter increase of 8.2%[3]. - The net profit for the same period was $7.2 million, representing a significant year-over-year growth of 123.5% and a quarter-over-quarter increase of 5.1%[6]. - The adjusted net profit amounted to $8.9 million, up 96.6% year-over-year and 45.0% quarter-over-quarter[3]. - The gross profit for the quarter was $61.8 million, representing a year-over-year increase of 31.8%[3]. - The adjusted EBITDA for the quarter was $30.7 million, reflecting a year-over-year growth of 17.7%[3]. - Operating profit for the three months ended March 31, 2024, was $10,262 thousand, representing a 98.4% increase from $5,172 thousand in the same period of 2023[25]. - Revenue for the three months ended March 31, 2024, reached $301,482 thousand, up 23.2% from $244,544 thousand in the same period of 2023[27]. - Gross profit for the same period was $61,819 thousand, compared to $46,912 thousand in the prior year, reflecting a 31.8% increase[27]. - Adjusted EBITDA for the three months ended March 31, 2024, was $29,146 thousand, a 24.7% increase from $23,373 thousand in the same period of 2023[25]. - Net profit for the period was $7,154 thousand, up 123.5% from $3,201 thousand in the same period of 2023[27]. - Basic earnings per share for the three months ended March 31, 2024, was $0.50, compared to $0.21 in the same period of 2023[27]. Revenue Breakdown - The programmatic advertising platform Mintegral generated revenue of $283.6 million, reflecting a year-over-year growth of 25.4% and a quarter-over-quarter increase of 10.3%[6]. - Game category revenue reached $202.8 million, accounting for 71.5% of total revenue, with a year-over-year growth of 11.4%[12]. - Non-game category revenue was $80.8 million, representing 28.5% of total revenue, significantly up from 19.5% in the same period last year, marking an 83.2% year-over-year increase[12]. - Non-gaming categories contributed significantly to revenue, with Mintegral's non-gaming revenue reaching $80.8 million, a year-over-year increase of 83.2%[6]. - The advertising technology business accounted for 98.6% of total revenue, with $297.3 million reported, up 23.3% from the previous year[7]. - The revenue from the marketing technology business was $4.2 million, an increase of 18.5% year-over-year[7]. Expenses and Costs - Cost of sales increased by 21.3% year-over-year to $239.7 million, primarily driven by rising traffic and server costs in the advertising technology business[14]. - Research and development expenses surged by 57.8% year-over-year to $29.5 million, mainly due to increased costs associated with developing smart bidding systems[19]. - Sales and marketing expenses increased by 5.1% year-over-year to $13.2 million, attributed to rising bidding costs[18]. - Total operating expenses amounted to $60.7 million, with variable costs rising due to increased model training expenses related to the smart bidding system[21]. Assets and Liabilities - Total assets as of March 31, 2024, amounted to $420,176 thousand, an increase from $400,204 thousand as of December 31, 2023[29]. - The company reported a net current asset position of $14,388 thousand as of March 31, 2024, down from $43,641 thousand as of December 31, 2023[29]. - As of March 31, 2024, the company's net assets amounted to $264,118 thousand, an increase from $259,110 thousand as of December 31, 2023, reflecting a growth of approximately 1.5%[30]. - Non-current liabilities decreased significantly from $75,878 thousand to $44,592 thousand, indicating a reduction of approximately 41.2%[30]. - The company's total equity attributable to equity shareholders rose to $255,538 thousand from $250,092 thousand, representing a growth of about 2.0%[30]. - Lease liabilities increased from $9,330 thousand to $10,806 thousand, marking an increase of approximately 15.8%[30]. Company Performance and Management - Mobvista has achieved profitability for six consecutive quarters since Q4 2022, with the first quarter of 2024 marking a historical high in both revenue and profit[5]. - The company experienced a foreign exchange loss of $23 thousand, a decrease of 98.3% from $1,389 thousand in the same period of 2023[25]. - The company expressed gratitude to management and employees for their efforts during the reporting period, highlighting the importance of teamwork and dedication[31]. - The board of directors includes key executives such as the Chairman and CEO, indicating strong leadership presence[32].
汇量科技(01860) - 2024 Q1 - 季度业绩