Machine Learning and Programmatic Advertising Drive Profitability
SINGAPORE--(BUSINESS WIRE)--Mobvista (01860.HK), a leading global marketing and technology company, has today released its financial results for the third quarter of 2023, showcasing further growth and profitability.
Mobvista reported a 25.9% year-over-year (YoY) increase in revenue to $269.37 million. The company's net revenue grew substantially to $73.32 million, marking a 34.8% YoY increase. Gross profit followed suit, expanding by 35.1% YoY to $55.50 million.
Revenue from Mintegral, Mobvista's programmatic advertising subsidiary, surged to $255.42 million, marking a 28.2% YoY growth, bolstered by a 5.6% quarter-on-quarter increase. Mintegral's advancements in machine learning and the introduction of its Target ROAS intelligent bidding feature have contributed to increased revenue and profit margins in Q3 2023.
"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." - Clement Cao, CEO and Co-founder of Mobvista.
Moreover, by adopting cloud-native technologies and continuously improving its algorithms, Mintegral has successfully reduced unit server costs.
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% of Mintegral's total revenue in the third quarter of 2023.
Mintegral has also continued to strengthen its client growth and retention. The retention rate of Mintegral's traffic publishers was 93.5%, with a 15.7% increase in new publishers. Additionally, the number of partnered apps increased by 23.6%. Mintegral has also reported an increase in its client base, with 493 customers contributing over $100,000 in the last twelve months. This growth indicates the strong retention and expansion of the platform's scaled enterprise customer base, with a retention rate of 94.7% and a dollar-based net expansion rate of 111.0%.
For more detailed information on Mobvista's financial and operational highlights, please refer to the full Q3 2023 financial report.
About Mobvista
Mobvista is a leading mobile technology company providing a complete suite of advertising and analytics tools for app developers and marketers seeking global growth. With our range of tailored solutions, such as user acquisition, monetization, analytics, creative automation, and cross-channel media buying, Mobvista enables developers to maximize their potential.
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