KUALA LUMPUR, Nov 16 (Bernama) -- Mobvista, a global marketing and technology company, has released its financial results for the third quarter (Q3 2023), showcasing further growth and profitability with a 25.9 per cent year-over-year (YoY) increase in revenue to US$269.37 million. (US$1=RM4.69)
In a statement, the company said its net revenue grew substantially to US$73.32 million, marking a 34.8 per cent YoY increase, while gross profit followed suit, expanding by 35.1 per cent YoY to US$55.50 million.
Meanwhile, revenue from Mintegral, Mobvista's programmatic advertising subsidiary, surged to US$255.42 million, marking a 28.2 per cent YoY growth, bolstered by a 5.6 per cent quarter-on-quarter increase.
“This quarter's remarkable financial achievements underscore Mobvista's commitment to innovation and growth. Our significant revenue increase, especially in programmatic advertising through Mintegral, is a testament to our strategic investments in machine learning and intelligent bidding technologies,” said its Chief Executive Officer and Co-founder, Clement Cao.
Mintegral has successfully reduced unit server costs by adopting cloud-native technologies and continuously improving its algorithms.
Additionally, Mintegral has proven its ability to diversify revenue streams across multiple app categories. Notably, midcore and hardcore gaming segments have become significant, comprising 31.8 per cent of Mintegral's total revenue in the third quarter of this year.
Mintegral has also continued to strengthen its client growth and retention in which the retention rate of its traffic publishers was 93.5 per cent, with a 15.7 per cent increase in new publishers.
Additionally, the number of partnered apps increased by 23.6 per cent and Mintegral has also reported an increase in its client base, with 493 customers contributing over US$100,000 in the last 12 months.
With its range of tailored solutions, Mobvista provides a complete suite of advertising and analytics tools for app developers and marketers seeking global growth.
-- BERNAMA
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