Mobvista (1860) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached $416.5 million, up 54.6% year-over-year and 23.6% quarter-over-quarter.

• Net profit for Q3 2024 was $8.8 million, a 171.2% increase year-over-year.

• Programmatic advertising platform Mintegral drove growth, with revenue of $402.5 million, up 57.6% year-over-year.

• Non-gaming verticals, especially e-commerce, saw significant expansion, with non-gaming revenue up 98.5% year-over-year.

Financial highlights

• Gross profit for Q3 2024 was $87.8 million, up 58.3% year-over-year.

• Adjusted net profit was $10.7 million, up 162.4% year-over-year.

• Adjusted EBITDA reached $34.3 million, a 45.3% increase year-over-year.

• Cost of sales increased 53.7% year-over-year to $328.6 million, mainly due to higher traffic and server costs.

• Operating profit margin improved to 2.9% from 1.9% in Q3 2023.

Outlook and guidance

• The global advertising market continues to trend upward, supporting ongoing business momentum.

• Continued investment in smart bidding and expansion into new verticals expected to drive future growth.