DUBAI, UAE, Nov. 14,
2022 /PRNewswire/ -- Yalla Group Limited ("Yalla" or
the "Company") (NYSE: YALA), the leading voice-centric social
networking and entertainment platform in the Middle East and North Africa (MENA), today announced its
unaudited financial results for the third quarter ended
September 30, 2022.
Third Quarter 2022 Financial and Operating Highlights
- Revenues were US$80.1
million in the third quarter of 2022, representing an
increase of 12.3% from the third quarter of 2021.
- Revenues generated from chatting services in the third quarter of
2022 were US$56.2 million.
- Revenues generated from games services in the third quarter of
2022 were US$23.9 million.
- Net income was US$24.4
million in the third quarter of 2022, compared with
US$25.3 million in the third quarter
of 2021. Net margin[1] was 30.5% in the third quarter of
2022.
- Non-GAAP net income[2] was US$29.4 million in the third quarter of 2022,
compared with US$33.2 million in the
third quarter of 2021. Non-GAAP net margin[3] was 36.7%
in the third quarter of 2022.
- Average MAUs[4] increased by 19.1% to 30.9
million in the third quarter of 2022 from 25.9 million in the third
quarter of 2021.
- The number of paying users[5] on our platform
increased by 50.3% to 11.5 million in the third quarter of 2022
from 7.7 million in the third quarter of 2021.
[1] Net
margin is net income as a percentage of revenues.
|
[2] Non-GAAP
net income represents net income excluding share-based
compensation. Non-GAAP net income is a non-GAAP financial measure.
See the sections entitled "Non-GAAP Financial Measures" and
"Reconciliation of GAAP and Non-GAAP Results" for more information
about the non-GAAP measures referred to in this press
release.
|
[3] Non-GAAP
net margin is non-GAAP net income as a percentage of
revenues.
|
[4] "Average
MAUs" refers to the average monthly active users in a given period
calculated by dividing (i) the sum of active users for each month
of such period, by (ii) the number of months in such period.
"Active users" refers to registered users who accessed any of our
main mobile applications at least once during a given period. Our
main mobile applications consisted of Yalla, Yalla Ludo and Yalla
Parchis for the periods presented herein.
|
[5] "Paying
users" refers to registered users who played a game or purchased
our virtual items or upgrade services using virtual currencies on
our main mobile applications at least once in a given period,
except for users who receive all of their virtual currencies
directly or indirectly from us for free. "Registered users" refers
to users who have registered accounts on our main mobile
applications as of a given time; a registered user is not
necessarily a unique user, as an individual may register multiple
accounts on our main mobile applications.
|
Key Operating
Data
|
For the three months
ended
|
|
September 30,
2021
|
|
|
September 30,
2022
|
|
|
|
|
|
Average MAUs (in
thousands)
|
|
25,946
|
|
|
30,896
|
|
|
|
|
|
Paying users (in
thousands)
|
|
7,677
|
|
|
11,541
|
"We are delighted to report another strong quarter with
record-setting revenue in the third quarter of 2022," said Mr.
Yang Tao, Founder, Chairman and CEO
of Yalla. "Our revenue rose to US$80.1
million, reaching a new high for the third consecutive
quarter and once again beating the upper end of our guidance. This
exceptional performance was fueled by our relentless efforts to
refine operational processes, optimize user acquisition and further
develop our product monetization. During the quarter, we continued
to enhance our product portfolio with gamification and
entertainment features to comprehensively strengthen user
engagement, resulting in an increase in our group's average MAUs to
30.9 million, up 19.1% year-over-year. We also remained focused on
converting our growing traffic to paying users, which increased by
50.3% year-over-year to 11.5 million.
"Alongside our ongoing efforts to promote our flagship
applications, we made meaningful progress on our new initiatives
during the third quarter. Notably, we rolled out the beta version
of our first hard-core mobile game, "Merge Kingdom," a milestone
for Yalla Game, our mid-core and hard-core mobile game business. We
also iterated our IM product, YallaChat, and released version 1.3
with more engaging localized functions as well as a Yalla Ludo mini
program to further boost product synergies and enhance user
stickiness. Moving forward, we will remain committed to augmenting
the Yalla ecosystem and delivering compelling user experiences to
fulfill users' diverse demands and provide the people of MENA with
better access to a digital life. Through hard work and dedication,
we are drawing ever closer to realizing our vision of becoming
MENA's most popular destination for online social networking and
entertainment," Mr. Yang concluded.
"Our businesses continued to thrive in the third quarter,
underpinned by solid fundamentals and quality growth," said Ms.
Karen Hu, Chief Financial Officer of
Yalla. "Our group's record-high third quarter revenue also
reflected a solid growth rate, demonstrating our effective growth
strategy and outstanding monetization capabilities. Furthermore,
our implementation of disciplined cost management and ROI-based
sales and marketing strategy significantly improved our overall
operational efficiency, helping us to maintain healthy
profitability with a GAAP net margin of 30.5%, and excluding
share-based compensation, a non-GAAP net margin of 36.7%. Looking
ahead, we are confident that our ample cash position and strong
overall execution will empower us to capitalize on future growth
opportunities, driving sustainable growth and creating value for
all of our stakeholders."
Third Quarter 2022 Financial Results
Revenues
Our revenues were US$80.1 million
in the third quarter of 2022, a 12.3% increase from US$71.3 million in the third quarter of 2021. The
increase was primarily driven by the broadening of our user base
and our enhanced monetization capability. Our average MAUs
increased by 19.1%, from 25.9 million in the third quarter of 2021
to 30.9 million in the third quarter of 2022. Another primary
contributor to our solid revenue growth was the significant rise in
the number of paying users, which increased from 7.7 million in the
third quarter of 2021 to 11.5 million in the third quarter of
2022.
In the third quarter of 2022, our revenues generated from
chatting services were US$56.2
million, and revenues from games services were US$23.9 million.
Costs and expenses
Our total costs and expenses were US$55.6
million in the third quarter of 2022, compared with
US$45.6 million in the third quarter
of 2021.
Our cost of revenues was US$29.6
million in the third quarter of 2022, a 26.3% increase from
US$23.4 million in the same period
last year, primarily due to an increase in technical service fees
resulting from the expansion of our product portfolio and an
increase in salaries and benefits resulting from the expansion of
the operation and maintenance team. Cost of revenues as a
percentage of our total revenues increased from 32.8% in the third
quarter of 2021 to 36.9% in the third quarter of 2022.
Our selling and marketing expenses were US$12.0 million in the third quarter of 2022, a
9.0% increase from US$11.0 million in
the same period last year, primarily due to higher advertising and
market promotion expenses driven by our continued user acquisition
efforts and expanding product portfolio. Selling and marketing
expenses as a percentage of our total revenues decreased from 15.4%
in the third quarter of 2021 to 14.9% in the third quarter of
2022.
Our general and administrative expenses were US$8.6 million in the third quarter of 2022, a
16.9% increase from US$7.3 million in
the same period last year, primarily due to an increase in
performance-based incentive compensation and an increase in
professional service fees. General and administrative expenses as a
percentage of our total revenues increased from 10.3% in the third
quarter of 2021 to 10.7% in the third quarter of 2022.
Our technology and product development expenses were
US$5.5 million in the third quarter
of 2022, a 42.2% increase from US$3.9
million in the same period last year, primarily due to an
increase in salaries and benefits for our technology and product
development staff, driven by an increase in the headcount of our
technology and product development staff to support the development
of new businesses and expansion of our product portfolio.
Technology and product development expenses as a percentage of our
total revenues increased from 5.4% in the third quarter of 2021 to
6.9% in the third quarter of 2022.
Operating income
Operating income was US$24.5
million in the third quarter of 2022, compared with of
US$25.7 million in the third quarter
of 2021.
Non-GAAP operating
income[6]
Non-GAAP operating income (which excluded share-based
compensation expenses) in the third quarter of 2022 was
US$29.5 million, compared with
US$33.6 million in the same period
last year.
[6] Non-GAAP
operating income represents operating income excluding share-based
compensation. Non-GAAP operating income is a non-GAAP financial
measure. See the sections entitled "Non-GAAP Financial Measures"
and "Reconciliation of GAAP and Non-GAAP Results" for more
information about the non-GAAP measures referred to in this press
release.
|
Income tax expense
Our income tax expense was US$0.79
million in the third quarter of 2022, compared with
US$0.42 million in the third quarter
of 2021.
Net income
As a result of the foregoing, our net income was US$24.4 million in the third quarter of 2022,
compared with US$25.3 million in the
third quarter of 2021.
Non-GAAP net income
Non-GAAP net income (which excluded share-based compensation
expenses) in the third quarter of 2022 was US$29.4 million, compared with US$33.2 million in the same period last year.
Earnings per ordinary share
Basic and diluted earnings per ordinary share were US$0.16 and US$0.14
respectively in the third quarter of 2022, while basic and diluted
earnings per ordinary share were US$0.17 and US$0.14
respectively in the same period of 2021.
Non-GAAP earnings per ordinary
share[7]
Non-GAAP basic and diluted earnings per ordinary share were
US$0.19 and US$0.17 respectively in the third quarter of
2022, compared with US$0.22 and
US$0.18 respectively in the same
period of 2021.
[7] Non-GAAP
earnings per ordinary share is non-GAAP net income attributable to
Yalla Group Limited's shareholders, divided by weighted average
number of basic and diluted shares outstanding. Non-GAAP earnings
per ordinary share is a non-GAAP financial measure. See the
sections entitled "Non-GAAP Financial Measures" and "Reconciliation
of GAAP and Non-GAAP Results" for more information about the
non-GAAP measures referred to in this press release.
|
Cash and cash equivalents
As of September 30, 2022, we had
cash and cash equivalents of US$391.2
million, compared with cash and cash equivalents of
US$384.9 million as of June 30, 2022.
Share repurchase program
Pursuant to the share repurchase program announced on
May 21, 2021, with an extended
expiration date of May 21, 2023, the
Company has repurchased 2,302,141 American depositary shares
("ADSs") as of September 30, 2022,
representing 2,302,141 Class A ordinary shares, from the open
market with cash for an aggregate amount of approximately
US$27.0 million. The aggregate value
of ADSs and/or Class A ordinary shares that may yet be purchased
under the share repurchase program was US$123.0 million as of September 30, 2022.
Outlook
For the fourth quarter of 2022, the management of the Company
currently expects revenues to be between US$70.0 million and US$76.0 million.
The above outlook is based on the current market conditions and
reflects the Company management's current and preliminary estimates
of market and operating conditions and customer demand, which are
all subject to change.
Conference Call
The Company's management will host an earnings conference call
on Monday, November 14, 2022, at
8:00 P.M. U.S. Eastern Time,
Tuesday, November 15, 2022, at
5:00 A.M. Dubai Time, or Tuesday, November 15, 2022, at 9:00 A.M. Beijing/Hong
Kong time.
Dial-in details for the earnings conference call are as
follows:
United States Toll
Free:
|
+1-888-317-6003
|
International:
|
+1-412-317-6061
|
United Arab Emirates
Toll Free:
|
80-003-570-3589
|
Mainland China Toll
Free:
|
400-120-6115
|
Hong Kong Toll
Free:
|
800-963-976
|
Access Code:
|
3456699
|
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website at
https://ir.yallagroup.com.
A replay of the conference call will be accessible until
November 21, 2022, by dialing the
following telephone numbers:
United States Toll
Free:
|
+1-877-344-7529
|
International:
|
+1-412-317-0088
|
Access Code:
|
8329794
|
Non-GAAP Financial Measures
To supplement the financial measures prepared in accordance with
generally accepted accounting principles in the United States, or GAAP, this press release
presents non-GAAP financial measures, namely non-GAAP operating
income, non-GAAP net income, non-GAAP net margin and non-GAAP basic
and diluted earnings per ordinary share, as supplemental measures
to review and assess the Company's operating performance. The
presentation of the non-GAAP financial measures is not intended to
be considered in isolation or as a substitute for the financial
information prepared and presented in accordance with U.S. GAAP. We
define non-GAAP operating income as operating income excluding
share-based compensation. We define non-GAAP net income as net
income excluding share-based compensation. We define non-GAAP net
margin as non-GAAP net income as a percentage of revenues. We
define non-GAAP net income attributable to Yalla Group Limited's
shareholders as net income attributable to Yalla Group Limited's
shareholders, excluding share-based compensation. We define
non-GAAP earnings per ordinary share as non-GAAP net income
attributable to Yalla Group Limited's shareholders, divided by the
weighted average number of basic and diluted shares
outstanding.
By excluding the impact of share-based compensation expenses,
which are non-cash charges, the Company believes that the non-GAAP
financial measures help identify underlying trends in its business
and enhance the overall understanding of the Company's past
performance and future prospects. Investors can better understand
the Company's operating and financial performance, compare business
trends among different reporting periods on a consistent basis and
assess its core operating results, as they exclude share-based
compensation expenses, which are not expected to result in cash
payments. The Company also believes that the non-GAAP financial
measures allow for greater visibility with respect to key metrics
used by the Company's management in its financial and operational
decision-making.
The non-GAAP financial measure is not defined under U.S. GAAP
and is not presented in accordance with U.S. GAAP. The non-GAAP
financial measure has limitations as analytical tools. One of the
key limitations of using the non-GAAP financial measures is that
they do not reflect all items of income and expense that affect the
Company's operations. Share-based compensation has been and may
continue to be incurred in the Company's business and is not
reflected in the presentation of non-GAAP financial measures.
Further, the non-GAAP financial measure may differ from the
non-GAAP information used by other companies, including peer
companies, and therefore their comparability may be limited.
The Company compensates for these limitations by providing the
relevant disclosure of its non-GAAP financial measures in the
reconciliations to the nearest U.S. GAAP performance measures, all
of which should be considered when evaluating its performance. The
Company encourages investors and others to review its financial
information in its entirety and not rely on a single financial
measure.
Reconciliation of GAAP and non-GAAP results is set forth at the
end of this press release.
About Yalla Group Limited
Yalla Group Limited is the largest voice-centric social
networking and entertainment platform in the Middle East and Northern Africa (MENA). The Company operates
two flagship mobile applications, Yalla, a voice-centric group chat
platform, and Yalla Ludo, a casual gaming application featuring
online versions of board games, popular in MENA, with in-game voice
chat and localized Majlis functionality. Building on the success of
Yalla and Yalla Ludo, the Company has expanded its content,
creating a regionally-focused, integrated ecosystem dedicated to
fulfilling MENA users' evolving online social networking and
entertainment needs. The ecosystem includes YallaChat, an IM
product tailored for Arabic users; Waha, a social networking
product designed for the metaverse; and games such as Yalla Baloot
and 101 Okey Yalla, developed to sustain vibrant local gaming
communities in the region. Yalla is also actively exploring outside
of MENA, having launched Yalla Parchis, a Ludo game designed for
the South American markets. Yalla's mobile applications deliver a
seamless experience that fosters a sense of loyalty and belonging,
establishing highly devoted and engaged user communities through
close attention to detail and localized appeal that profoundly
resonates with its users. In addition, through its holding
subsidiary, Yalla Game Limited, the Company has expanded its
capabilities in mid-core and hard-core game distribution in the
MENA region, leveraging its local expertise to bring exciting new
content to its users.
For more information, please visit:
https://ir.yallagroup.com.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements pursuant to the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "aims,"
"future," "intends," "plans," "believes," "estimates," "likely to"
and similar statements. Statements that are not historical facts,
including statements about Yalla Group Limited's beliefs, plans and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Further
information regarding these and other risks is included in Yalla
Group Limited's filings with the SEC. All information provided in
this press release is as of the date of this press release, and
Yalla Group Limited does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please contact:
Yalla Group Limited
Investor Relations
Kerry Gao - IR Director
Tel: +86-571-8980-7962
Email: ir@yallatech.ae
The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
Email: yalla@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
Email: yalla@tpg-ir.com
YALLA GROUP
LIMITED
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
|
|
|
|
|
|
As of
|
|
|
December 31,
2021
|
|
September 30,
2022
|
|
|
US$
|
|
US$
|
ASSETS
|
|
|
|
|
Current
assets
|
|
|
|
|
Cash and cash
equivalents
|
|
351,485,602
|
|
391,208,146
|
Short-term
investments
|
|
2,906,344
|
|
25,438,268
|
Amounts due from a
related party
|
|
—
|
|
112,679
|
Prepayments and other
current assets
|
|
21,957,230
|
|
34,597,106
|
Total current
assets
|
|
376,349,176
|
|
451,356,199
|
Non-current
assets
|
|
|
|
|
Property and equipment,
net
|
|
1,832,952
|
|
2,215,370
|
Operating lease
right-of-use assets
|
|
857,474
|
|
2,168,666
|
Long-term
investments
|
|
1,768,455
|
|
4,093,571
|
Other assets
|
|
—
|
|
14,855,278
|
Total non-current
assets
|
|
4,458,881
|
|
23,332,885
|
Total
assets
|
|
380,808,057
|
|
474,689,084
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
Current
liabilities
|
|
|
|
|
Accounts
payable
|
|
4,392,330
|
|
4,674,857
|
Deferred
revenue
|
|
24,971,203
|
|
32,804,267
|
Operating lease
liabilities, current
|
|
472,734
|
|
1,022,920
|
Accrued expenses and
other current liabilities
|
|
14,896,134
|
|
17,736,513
|
Total current
liabilities
|
|
44,732,401
|
|
56,238,557
|
Non-current
liabilities
|
|
|
|
|
Operating lease
liabilities, non-current
|
|
195,596
|
|
978,496
|
Amounts due to a
related party
|
|
—
|
|
698,266
|
Total non-current
liabilities
|
|
195,596
|
|
1,676,762
|
Total
liabilities
|
|
44,927,997
|
|
57,915,319
|
|
|
|
|
|
EQUITY
|
|
|
|
|
Shareholders' equity
of Yalla Group Limited
|
|
|
|
|
Class A Ordinary
Shares
|
|
12,484
|
|
13,285
|
Class B Ordinary
Shares
|
|
2,473
|
|
2,473
|
Additional paid-in
capital
|
|
265,647,268
|
|
288,529,390
|
Treasury
stock
|
|
(25,419,808)
|
|
(27,014,697)
|
Accumulated other
comprehensive income (loss)
|
|
520,010
|
|
(2,347,655)
|
Retained
earnings
|
|
95,123,951
|
|
158,118,231
|
Total shareholders'
equity of Yalla Group Limited
|
|
335,886,378
|
|
417,301,027
|
Non-controlling
interests
|
|
(6,318)
|
|
(527,262)
|
Total
equity
|
|
335,880,060
|
|
416,773,765
|
Total liabilities
and equity
|
|
380,808,057
|
|
474,689,084
|
YALLA GROUP
LIMITED
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS
|
OF
OPERATIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
September 30,
2021
|
|
June 30,
2022
|
|
September 30,
2022
|
|
September 30,
2021
|
|
September 30,
2022
|
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
Revenues
|
|
71,308,909
|
|
76,090,799
|
|
80,061,650
|
|
205,578,084
|
|
228,489,731
|
Costs and
expenses
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(23,414,397)
|
|
(29,272,347)
|
|
(29,568,306)
|
|
(71,216,160)
|
|
(86,368,643)
|
Selling and marketing
expenses
|
|
(10,968,881)
|
|
(11,208,074)
|
|
(11,951,117)
|
|
(29,087,494)
|
|
(35,685,652)
|
General and
administrative expenses
|
|
(7,328,752)
|
|
(6,945,989)
|
|
(8,567,865)
|
|
(30,140,348)
|
|
(23,541,724)
|
Technology and product
development expenses
|
|
(3,859,988)
|
|
(7,726,715)
|
|
(5,487,884)
|
|
(10,369,733)
|
|
(19,199,167)
|
Total costs and
expenses
|
|
(45,572,018)
|
|
(55,153,125)
|
|
(55,575,172)
|
|
(140,813,735)
|
|
(164,795,186)
|
Operating
income
|
|
25,736,891
|
|
20,937,674
|
|
24,486,478
|
|
64,764,349
|
|
63,694,545
|
Interest
income
|
|
40,196
|
|
176,432
|
|
777,581
|
|
76,663
|
|
1,005,132
|
Government
grants
|
|
—
|
|
1,847
|
|
51,483
|
|
13,809
|
|
212,015
|
Investment income
(loss)
|
|
(33,383)
|
|
17,674
|
|
(104,944)
|
|
(92,330)
|
|
(255,715)
|
Income before income
taxes
|
|
25,743,704
|
|
21,133,627
|
|
25,210,598
|
|
64,762,491
|
|
64,655,977
|
Income tax
expense
|
|
(417,716)
|
|
(780,211)
|
|
(788,985)
|
|
(1,225,498)
|
|
(2,182,641)
|
Net
income
|
|
25,325,988
|
|
20,353,416
|
|
24,421,613
|
|
63,536,993
|
|
62,473,336
|
Net loss attributable
to non-controlling interests
|
|
—
|
|
236,433
|
|
206,347
|
|
-
|
|
520,944
|
Net income
attributable to Yalla Group
Limited's shareholders
|
|
25,325,988
|
|
20,589,849
|
|
24,627,960
|
|
63,536,993
|
|
62,994,280
|
YALLA GROUP
LIMITED
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS
|
OF OPERATIONS
(CONTINUED)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
September 30,
2021
|
|
June 30,
2022
|
|
September 30,
2022
|
|
September 30,
2021
|
|
September 30,
2022
|
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
Earnings per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
0.17
|
|
0.14
|
|
0.16
|
|
0.43
|
|
0.41
|
——Diluted
|
|
0.14
|
|
0.12
|
|
0.14
|
|
0.35
|
|
0.36
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
|
|
outstanding used in computing earnings
|
|
|
|
|
|
|
|
|
|
|
per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
149,873,794
|
|
151,384,789
|
|
155,190,724
|
|
148,481,158
|
|
152,244,358
|
——Diluted
|
|
180,232,792
|
|
175,146,529
|
|
177,347,900
|
|
180,896,786
|
|
176,347,667
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation was allocated in cost of revenues, selling and
marketing expenses, general and administrative expenses and
technology and product development expenses as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
September 30,
2021
|
|
June 30,
2022
|
|
September 30,
2022
|
|
September 30,
2021
|
|
September 30,
2022
|
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
Cost of
revenues
|
|
1,265,422
|
|
1,404,341
|
|
1,065,549
|
|
4,667,110
|
|
3,914,210
|
Selling and marketing
expenses
|
|
1,768,260
|
|
1,850,318
|
|
1,059,009
|
|
8,224,344
|
|
4,755,921
|
General and
administrative expenses
|
|
4,632,605
|
|
4,663,550
|
|
2,462,675
|
|
22,039,709
|
|
11,788,894
|
Technology and product
development expenses
|
|
216,047
|
|
357,487
|
|
379,994
|
|
481,662
|
|
1,048,923
|
YALLA GROUP
LIMITED
|
RECONCILIATIONS OF
GAAP AND NON-GAAP RESULTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
September 30,
2021
|
|
June 30,
2022
|
|
September
30, 2022
|
|
September 30,
2021
|
|
September 30,
2022
|
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
|
US$
|
Operating
income
|
|
25,736,891
|
|
20,937,674
|
|
24,486,478
|
|
64,764,349
|
|
63,694,545
|
Share-based
compensation expenses
|
|
7,882,334
|
|
8,275,696
|
|
4,967,227
|
|
35,412,825
|
|
21,507,948
|
Non-GAAP operating
income
|
|
33,619,225
|
|
29,213,370
|
|
29,453,705
|
|
100,177,174
|
|
85,202,493
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
25,325,988
|
|
20,353,416
|
|
24,421,613
|
|
63,536,993
|
|
62,473,336
|
Share-based
compensation expenses
|
|
7,882,334
|
|
8,275,696
|
|
4,967,227
|
|
35,412,825
|
|
21,507,948
|
Non-GAAP net
income
|
|
33,208,322
|
|
28,629,112
|
|
29,388,840
|
|
98,949,818
|
|
83,981,284
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable
to Yalla
Group Limited's shareholders
|
|
25,325,988
|
|
20,589,849
|
|
24,627,960
|
|
63,536,993
|
|
62,994,280
|
Share-based
compensation expenses
|
|
7,882,334
|
|
8,275,696
|
|
4,967,227
|
|
35,412,825
|
|
21,507,948
|
Non-GAAP net income
attributable to
Yalla Group Limited's shareholders
|
|
33,208,322
|
|
28,865,545
|
|
29,595,187
|
|
98,949,818
|
|
84,502,228
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
0.22
|
|
0.19
|
|
0.19
|
|
0.67
|
|
0.56
|
——Diluted
|
|
0.18
|
|
0.16
|
|
0.17
|
|
0.55
|
|
0.48
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
|
|
outstanding used in computing earnings
|
|
|
|
|
|
|
|
|
|
|
per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
——Basic
|
|
149,873,794
|
|
151,384,789
|
|
155,190,724
|
|
148,481,158
|
|
152,244,358
|
——Diluted
|
|
180,232,792
|
|
175,146,529
|
|
177,347,900
|
|
180,896,786
|
|
176,347,667
|
View original
content:https://www.prnewswire.com/news-releases/yalla-group-limited-announces-unaudited-third-quarter-2022-financial-results-301676816.html
SOURCE Yalla Group Limited