MOBVISTA (01860) third quarter performance: revenue of 416 million US dollars, a year-on-year increase of 54.6%

On November 15, MOBVISTA (01860) released its performance announcement for the three months and nine months ending September 30, 2024. The announcement shows that the group's scale effect has been further highlighted during the reporting period, and the growth momentum remains strong. In the third quarter, the group's revenue reached another record high, with a year-on-year increase of 54.6% to $416 million; during the same period, the group's profit continued to improve, with net income increasing by 49.2% year-on-year to $109 million. Among them, the group's programmatic advertising platform Mintegral achieved a new high with revenue reaching $403 million, a year-on-year increase of 57.6%. The announcement also shows that the group's total revenue for the period from January to September 2024 reached $1.055 billion, an increase of 36.0% year-on-year. Since the beginning of this year, the advertising market has continued to recover, and the global advertising market as a whole has maintained a stable upward trend. Thanks to the upgrade of infrastructure in 2022 and continued investment in 2023, Mintegral's intelligent bidding product has been further validated by the market. In July 2024, the Target-CPE feature for event optimization was launched, continuing to strengthen algorithm capabilities and innovate delivery strategies. The intelligent bidding mode of ROAS (Return On Ad Spend) has become the mainstream choice for developers on Mintegral, and is an important factor driving Mintegral's growth. With the improvement of Mintegral's intelligent bidding capabilities, MOBVISTA has also made significant breakthroughs in new verticals, enriching the advertising budget structure. In the gaming category, the group is expanding into medium to heavy games represented by IAP (In App Purchases), as well as expanding into a large number of non-gaming categories such as e-commerce and social. Games remain the group's core, with the gaming category recording revenue of $295 million in the third quarter of 2024, accounting for 73.2% of Mintegral's total revenue, a year-on-year increase of 46.5%. Non-gaming categories recorded revenue of $108 million, accounting for 26.8%. Additionally, Mintegral's industry influence has further increased. According to the recently released 17th edition of the "Advertising Platform Comprehensive Performance Report," Mintegral maintains its leading position in the global dual-end gaming rankings while making strong breakthroughs in Android, non-gaming dual-end, and remarketing. On Android, Mintegral has consistently ranked third in the global full-category volume rankings for three years, behind only advertising giants Google and Meta, and has jumped to third in the strength rankings. On iOS, Mintegral ranks sixth in the global full-category strength list and second in the global gaming category volume list. The ranking of the non-gaming sector has significantly advanced, ranking in the top 10 in almost all regions in the dual-end leaderboard for various verticals; entering the Android remarketing list for the first time, ranking sixth in the Asia-Pacific shopping category volume list.