Mobvista (1860) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue rose 45.8% year-over-year to US$439.6 million, with net profit up 177.9% to US$19.9 million, reflecting strong business scaling and improved fundamentals.

• Programmatic advertising platform Mintegral drove growth, with smart bidding products accounting for over 80% of its revenue.

Financial highlights

• Revenue: US$439.6 million, up 45.8% year-over-year; net revenue: US$120.8 million, up 47.0%.

• Gross profit: US$96.0 million, up 55.4% year-over-year; gross margin improved to 21.8%.

• Adjusted net profit: US$21.9 million, up 146.8% year-over-year; adjusted EBITDA: US$41.7 million, up 35.9%.

• Basic EPS: 1.40 US cents, up from 0.50 US cents in Q1 2024.

Outlook and guidance

• Business scaling effect and momentum remain strong, with continued focus on AI-driven smart bidding and multi-vertical development.