Mobvista (1860) investor relations material

Executive summary

• Revenue reached US$581.3 million for Q1 2026, up 32.2% year-over-year and 0.7% quarter-over-quarter.

• Programmatic advertising platform Mintegral contributed US$559.9 million, 96.3% of total revenue, with 33.1% YoY growth.

• Adjusted net profit was US$24.2 million, up 10.6% YoY; adjusted EBITDA was US$46.7 million, up 12.0% YoY.

• Significant R&D investment focused on AI infrastructure and smart bidding products, enhancing model accuracy and efficiency.

Financial highlights

• Net revenue was US$151.0 million, up 25.0% YoY and 3.0% QoQ.

• Gross profit rose to US$121.9 million, up 26.9% YoY; gross margin was 21.0%, slightly down from 21.8% YoY.

• Profit for the period was US$34.2 million, up 72.1% YoY.

• Cost of sales increased 33.7% YoY to US$459.4 million, mainly due to higher traffic and server costs.

• Selling and marketing expenses rose 33.7% YoY to US$23.1 million; R&D expenses increased 46.9% YoY to US$62.0 million.

Outlook and guidance

• Continued focus on R&D and AI infrastructure expected to support further revenue growth and operational efficiency.

• Expansion of advertiser types and overseas market penetration remain strategic priorities.