الرئيس التنفيذي
أشرف الحادي

رئيس التحرير
فاطمة مهران

Yalla Group reports record revenues of AED 1.171 billion in 2023

Yalla Group Limited (“Yalla” or the “Company”) (NYSE: YALA), the largest Middle East and North Africa (MENA)-based online social networking and gaming company, has announced its unaudited financial results for the fourth quarter and full year ending on December 31, 2023.

The company achieved a significant milestone, registering a full-year revenue of AED 1.171 billion ($318.8 million), a significant increase from the AED 1.1 billion recorded in 2022.

The fourth quarter underscored Yalla’s robust financial health, with revenues soaring to AED 297.1 million ($80.9 million), a 7.7% upsurge from AED 275.9 million ($75.1 million) in the corresponding quarter of the previous year. This increment reflects the company’s enduring business growth and formidable financial standing.

The last quarter of the fiscal year 2023 witnessed Yalla achieving a robust net margin of 36.6% alongside an impressive non-GAAP net margin of 41.3%. Highlighting its effective monetization strategies and judicious SG&A (Selling, General & Administrative expenses) management, Yalla reported a fourth-quarter net income of AED 109 million ($29.7 million), an increase of 79% from AED 60.9 million in the fourth quarter of 2022.

Additionally, the company observed a 13.3% year-over-year increase in average monthly active users (MAUs), reaching 36.2 million in the final quarter of 2023, escalating from 32 million in 2022’s fourth quarter.

Despite a slight reduction in the number of paying users, down by 4.2% to 11.9 million in the fourth quarter of 2023 from 12.5 million in the previous year’s corresponding quarter, the company attributes this adjustment to short-term game mechanism modifications, reaffirming its commitment to enhancing user engagement and monetization strategies in the forthcoming periods.

 

Yang Tao, Founder, Chairman and CEO of Yalla, stressed that 2023 was a pivotal year for Yalla. “Amid the dynamic global landscape, we forged ahead with our effective strategy for high-quality growth and capped the year with strong fourth quarter financial and operational results.”

“Our revenues increased by 7.7% year-over-year to US$80.9 million for the fourth quarter, exceeding the upper end of our guidance, primarily driven by robust revenue growth from games services of 35.2% year-over-year. Furthermore, our game mechanism enhancements aimed at boosting user engagement and delivering better user experiences are bearing fruit,” Tao added.

“Along with our constant efforts to optimize our flagship applications, we made great strides with our mid- and hard-core games in the past year. With the successful launch of our two hard-core games, we have deepened our engagement in the mid- and hard-core game business and gained vast experience across key aspects of MENA’s gaming market,” he further said.

 

Lauding the remarkable growth in Yalla’s revenues, Saifi Ismail, Group President at Yalla Group, said: “We achieved robust 2023 results with full-year revenue rising to US$318.9 million, another testament to our ability to deliver growth in a rapidly evolving environment. Yalla aspires to become the No. 1 online social networking and entertainment platform in the MENA region. We will therefore continue to build relationships locally and globally to broaden our business horizons and embrace the opportunities brought by MENA’s digital transformation.

 

“With the entire region set to embark on a new era of growth, we are more committed than ever to providing the people of MENA with better access to a digital life. We believe we are well-positioned to capture the potential growth opportunities in the MENA region, and we look forward to delivering value to all our stakeholders as we strive to achieve our mission.

 

Moving forward, we will remain committed to developing more social networking and gaming applications tailored specifically for MENA users. Moreover, we will keep nurturing strong relationships with global channels to ensure that we continue to reach users effectively and provide them with the best possible experience,” Ismail added.

 

 

Related Posts:

Ukraine Leads as Intensity Rises on Day Six of IMMAF Youth World Championships in Al Ain Region

Artal Developments launches (Cēllen & Wēllen) projects in New Cairo

Deceptive docs: Attackers target employees with fake HR updates

UAE National Team Raises Medal Tally to 12 on Day Five of IMMAF Youth World Championships in Al Ain

Italy and ICCROM Launch €6 Million Cultural Heritage Programme in Africa

Celebrate International Beer Day with AED 30 Pints at Holiday Inn Express Dubai Airport & Jumeirah

Raise a Toast to International Beer Day at The Docks, Crowne Plaza Dubai Jumeirah

latest market insights from PRIME by Betterhomes, revealing a record-breaking quarter for Dubai’s ultra-luxury residential m

آخر الأخبار
وزير الاستثمار والتجارة الخارجية يلتقى عدد من كبرى الشركات اليابانية الليلة.. نانسي عجرم وحكيم يحييان الليلة الرابعة لمهرجان مراسي "ليالي مراسي" مصطفى قمر يستعد لطرح ديو غنائي جديد مع إدوارد المنتخب السعودي يحقق أربع جوائز في أولمبياد الأحياء الدولي 2025 بالفلبين الزمالك يُعلن عن 3 صفقات جديدة لتدعيم صفوف الفريق بعثة الأهلي تصل فندق الإقامة فى تونس العاصمة Ukraine Leads as Intensity Rises on Day Six of IMMAF Youth World Championships in Al Ain Region الرئيس السيسي يتلقى اتصال هاتفي من نظيره الفرنسي إيمانويل ماكرون عروض "أنغام الشباب" و"أوبرا عربي" و"تراث الشرقية" في ثاني أيام مهرجان "ليالينا في العلمين" تحالف الشمول المالي AFI يصدر دراسة حول المبادرة الرئاسية "سكن لكل المصريين" Artal Developments launches (Cēllen & Wēllen) projects in New Cairo وزير التربية والتعليم يكرم أوائل الثانوية العامة ويشيد بتفوقهم وتميزهم «أرتال للتطوير العقاري» تطلق مشروعي «cēllen» و«wēllen» بالقاهرة الجديدة وزيرة التخطيط تعقد اجتماعات ثنائية مكثفة مع وفود الدول ورؤساء مؤسسات التمويل الدولية ومنظمات الأمم ا... أبرز أنشطة وزارة الشئون النيابية والقانونية خلال أسبوع رئيس هيئة قناة السويس: "نلتزم بالدور المحوري للقناة في تحقيق الاستدامة لسلاسل الإمداد العالمية" من يملك الخوارزميات يملك السوق.. صراع العقول بين وادي السيليكون والتنين الصيني انطلاق فعاليات الدورة الرابعة للملتقى السنوي للجالية المغربية المقيمة بالخارج بإقليم زاكورة ليلة استثنائية في الرياض تجمع الأسطورة عمرو دياب بجمهوره على مسرح أبو بكر سالم وزير قطاع الأعمال يتفقد ميدانيا أعمال إعادة إحياء وتشغيل مصنع بلوكات الأنود بالعين السخنة