Moatable (MTBLY) Q1 2025 earnings summary

Executive summary

• Revenue grew 28.6%–29% year-over-year to $18.0 million in Q1 2025, marking the thirteenth consecutive quarter of growth.

• Net loss narrowed to $1.1 million from $3.1 million in Q1 2024, reflecting improved operating performance.

• Loss from operations improved to $974 thousand–$1.0 million from $1.4 million year-over-year.

• Majority of revenue generated in the U.S. market through Lofty and Trucker Path SaaS businesses.

• Gross profit increased 25% year-over-year to $13.4 million in Q1 2025.

Financial highlights

• SaaS revenue increased to $18.0 million from $14.0 million year-over-year.

• Gross margin declined to 74.5% from 76.4% due to higher service costs in real estate SaaS.

• Operating expenses rose to $14.4 million, mainly from higher selling, marketing, and R&D costs.

• Cash, cash equivalents, and restricted cash totaled $24.1 million at quarter end.

• Net cash used in operating activities was $1.7 million, up from $0.9 million in Q1 2024.

Outlook and guidance

• Cash reserves expected to meet operating needs for at least the next twelve months.

• Management continues to invest in R&D and sales to support SaaS business growth and emphasizes a path to profitability.