Net Revenue Rises 22%, Adjusted EBITDA Surges 789.5%
SINGAPORE–(BUSINESS WIRE)–Mobvista (01860.HK), a leading global marketing and technology company, has announced its financials for the half-year ending June 30, 2023. The company recorded a revenue of $506 million, up 11% YOY. Net revenue reached $136 million, representing a 22.7% YOY increase. Further highlights include an adjusted EBITDA, which reached $51.8 million, reflecting a significant YOY growth of 789.5%. The report also showed an operating cash flow of $48 million, a substantial increase of 105.7% YOY.
During this period, Mobvista’s programmatic advertising platform, Mintegral, posted a strong performance, achieving revenue of $467.8 million, a 13.9% increase YOY. The platform’s success can be seen across various categories, with casual gaming remaining stable and mid-to-hardcore gaming, along with utility apps, gradually increasing their share.
Mintegral’s strong performance is attributed to the positive actions taken in H1. Notably, integrating Mintegral with Google AdMob in June expanded the company’s traffic sources significantly. Mintegral managed to sustain a high retention rate of 95.4% with its partner publishers, and the firm’s growth was evident with an 18% increase in the number of new publishers and a 23.8% expansion in the number of partnered apps.
Furthermore, through continuous investment in machine learning, Mintegral enhanced its bidding system and launched its Target ROAS bidding feature. This allows advertisers to set their desired return on ad spend (ROAS) goals within the self-service platform. As a result, Mintegral achieved an impressive customer retention rate of 93.5% over the past twelve months as of June 30, with a net expansion rate of 103.6%, calculated in USD.
Regarding the Martech segment, Mobvista continues to develop its product suite, focusing on creative automation production, cross-channel media buying, and user data analysis platforms. Several of these offerings have gained recognition from top global publishers such as Voodoo, CMGE, Tantan, and Supercent. Further strengthening its Martech suite, the company has embraced technologies such as LLM/AIGC to reconstruct its offerings. Leveraging advanced models such as Stable Diffusion and Meta Segment Anything, customers can rapidly generate engaging ad creatives and launch campaigns efficiently.