Search
Close this search box.

Yalla Group reports record revenues of AED873.9 million in Q3 2023


Yalla Group Limited has announced a record revenue of AED873.9 million ($237.9 million) for the first nine months of 2023.

The latest quarterly financial results showcased substantial growth, with third-quarter revenues reaching AED312.9 million ($85.2 million), marking an impressive 6.4% increase compared to the same quarter in 2022. These results underscore Yalla’s robust financial performance and sustained business momentum.

In addition to the revenue achievements, Yalla has reported a Q3 net income of AED129.2 million (US$35.2 million), reflecting a substantial 44.3% increase from the third quarter of 2022, when it stood at AED89.6 million (US$24.4 million).

The company’s net margin remained exceptionally high at 41.4%, highlighting its strong monetization capabilities and disciplined SGA spending.

Moreover, Yalla’s average monthly active users (MAUs) experienced significant growth, surging by 13.6% to 35.1 million in the third quarter of 2023, compared to 30.9 million in the same period in 2022. Mea
nwhile, the number of paying users on the Yalla platform decreased by 2.6% to 11.2 million in the third quarter of 2023 from 11.5 million in the third quarter of 2022, primarily due to a short-term game mechanism adjustment.

Yang Tao, Founder, Chairman and CEO of Yalla, said, “We recorded all-time high revenues of US$85.2 million in the third quarter of 2023, beating the upper end of our guidance, while year-over-year revenue growth from gaming services exceeded 30% once again. Our robust quarterly results demonstrate our operational success in refining processes, enhancing the gamification of our flagship applications, improving our gaming mechanics and optimising user acquisition. These efforts have empowered us to build a more engaged community of users, reflected by a 13.6% year-over-year increase in our group’s average MAUs to 35.1 million.

Saifi Ismail, Group President at Yalla Group, said, “As we head into the fourth quarter, we will continue to execute our high-quality growth strategy with focus on
efficiency and profitability enhancement. We believe our solid fundamentals and strong cash position will support us well to capture future opportunities as we strive to create sustainable value for our shareholders in the long run.”

He added, “At Yalla Group, we are consistently pushing the boundaries of innovation and efficiency in the social networking and gaming landscape. Our impressive financial achievements this quarter are a direct result of our dedicated team’s efforts and our strategic foresight. As we move forward, we remain committed to investing in our people, technology, and new market opportunities, ensuring that we stay at the forefront of the industry and continue delivering exceptional value to our users and shareholders alike.”

Source: Emirates News Agency