UAE’s Yalla Group reports AED839m revenue in first nine months of 2022

Voice-centric social networking and entertainment platform Yalla Group (Yalla) has reported revenue of AED 839.1 million (US$ 228.5 million) for the first nine months of 2022.

According to Yalla’s latest financial results, the company also saw a significant increase in third-quarter revenue, reaching AED 294 million (US$ 80.1 million), a significant increase of 12.3% compared to the same quarter in 2021.

Yalla also posted net income of AED 89.7 million ($24.4 million), while non-GAAP net margin remained unusually high at 36.7%.

In addition, the average MAU (monthly active users) in the third quarter of 2022 increased by 19.1% to 30.9 million from 25.9 million in the third quarter of 2021.

At the same time, the number of paying users on the Yalla platform will increase by 50.3% from 7.7 million in the third quarter of 2021 to 11.5 million in the third quarter of 2022.

Yang Tao, founder, chairman and CEO of Yara, said: “We are pleased to report another strong quarter in the third quarter of 2022, with revenue hitting a record high. Our revenue hit a new high for the third consecutive quarter, once again outpacing our upstream The guide ends.

“Our relentless efforts to improve operational processes, optimize user acquisition, and further develop product monetization have driven this exceptional performance. During the quarter, we continued to enhance our product portfolio with gamification and entertainment features to strengthen users across the board.” Engagement, thereby increasing the average MAU of our group.”

Tao added: “In addition to our continuous efforts to promote our flagship app, we also made meaningful progress on new initiatives in the third quarter. Notably, we launched our first hardcore mobile game” Merge Kingdom”, a milestone for Yalla Game, our mid-core mobile game distribution business. We also iterated on our IM product, YallaChat, releasing version 1.3 with more localized features and Yalla Ludo Mini Programs to further enhance product synergy and enhance user stickiness.”

Saifi Ismail, group president of Yalla Group, said that Yalla’s business continued to thrive in the third quarter, supported by solid fundamentals and high-quality growth, adding that the group’s record high revenue for the third quarter also reflected The accelerated growth rate demonstrates our effective growth strategy and excellent monetization capabilities.