JOYY (JOYY) Investor presentation summary

Company overview

• Operates as a global technology company with a diversified geographical revenue mix, with 61% from developed countries, 18% from Southeast Asia and rest of world, and 11% from the Middle East as of Q2 2026.

• Employs a multi-engine strategy across social entertainment, advertising technology, and smart commerce, each contributing to growth and profitability.

• Social entertainment platforms have a global footprint in over 150 countries, supported by local teams and a large user base.

Business overview

• Social entertainment products include Bigo Live, imo, Likee, and Hago, with 277.1 million global monthly active users and strong monetization through virtual gifting.

• Bigo Live ranks among the world's top 10 social apps by in-app purchase revenue in 2025, with a self-reinforcing ecosystem for content creation and engagement.

• BIGO Ads has rapidly scaled, integrating with major mediation platforms and expanding into key global markets, achieving over 53% YoY ad revenue growth in Q2 2026.

• Shopline, the smart commerce platform, is AI-native and supports omnichannel commerce, with cross-border merchant revenue growing 73.5% YoY.

• AI is foundational across all business lines, driving content matching, ad targeting, payment optimization, and operational efficiency.

Financial highlights

• Q2 2026 group revenues reached $590.8M, with social entertainment, advertising, and commerce all showing strong YoY growth.

• Adjusted gross margin remained stable at 34.3% in Q2 2026, with non-GAAP operating income showing a 7.0% margin.

• Non-GAAP net income for Q2 2026 was $63.5M, with a diluted net income per ADS of $1.11.

• Maintains a strong balance sheet with $3.06B net cash as of June 30, 2026, and robust operating cash flow.

• Since 2020, has returned $2.4B to shareholders through dividends and share repurchases, with a new $1.5B capital return program for 2026-2028.