UAE’s Yalla Group reports revenue of Dhs265.7m in Q1 2022

UAE-based voice-centric social networking and entertainment platform, Yalla Group, announced its financial results for the first quarter of the fiscal year 2022, reporting Dhs265.7m in revenue.

Yalla’s latest financial results showed that generally accepted accounting principles (GAAP) and non-GAAP net margins during the first quarter increased by 24.5 per cent and 35.9 per cent, respectively. The major share of the total quarterly revenue was generated from chatting services, recording Dhs190.5m, while revenue posted by games services estimated at Dhs74.6m of the total revenues.

Average monthly active users or MAUs also increased by 55.3 per cent to 29.2 million in the first quarter of this year compared to 18.8 million in the same period of 2021.  The number of paying users on Yalla platforms also increased by 61 per cent to 9.4 million compared to 5.8 million in the same quarter of 2021.

“We had a stellar first quarter marked by strong results in both operational and financial metrics. Yalla Group’s total revenue reached Dhs265.7m. This exceptional performance was driven by our continued efforts to expand our user community, effective conversion of active users into paying users and further advancement in monetisation capabilities,” said Yang Tao, founder, chairman and CEO of Yalla.

“The strong performance we achieved during the first quarter of this year reflects the effectiveness of our growth strategy, which aims to provide an ideal experience for all users,” Tao added.

Saifi Ismail, president Yalla Group, affirmed that the business intends to enrich its product portfolio and enhance collaboration among the Yalla applications to develop an integrated interactive system to help boost the number of users for the company’s apps.

He also stated that Yalla’s integrated and innovative system will contribute to raising users’ awareness about the company’s apps and services, something which reflects positively on expanding the user base, and increasing the time the user spends within Yalla applications, thus enhancing brand loyalty in the long run.