Core Insights - The company reported strong performance for the third quarter ending September 30, 2025, with revenue of $532 million, a year-on-year increase of 27.6% [1] - Gross profit reached $111 million, reflecting a 26.4% year-on-year growth, while adjusted EBITDA surged to $47.05 million, marking a significant increase of 37.3% compared to the same period in 2024 [1] - The core business segment, particularly the programmatic platform Mintegral, showed robust revenue growth, generating $508 million, which is a 26.2% increase and accounts for approximately 95.5% of total group revenue [1] Business Structure - The company has diversified its advertising client base and achieved significant breakthroughs in its multi-vertical development strategy, leading to a more balanced business layout [2] - Revenue from both gaming and non-gaming categories experienced year-on-year growth, with gaming revenue at $384 million (75.7% of Mintegral's total revenue) growing by 30.5%, and non-gaming revenue at $124 million, up by 14.5% [2] - The introduction of four AI and machine learning-based smart bidding products since May 2023 has optimized advertising effectiveness, contributing over 80% of Mintegral's total revenue during the reporting period [1][2] Future Outlook - The company is expected to further solidify its leading position in the programmatic advertising sector as AI and machine learning technologies continue to be integrated into advertising strategies, enhancing market recognition and driving high-quality growth [2]