137% increase in Yalla's revenues to 754 million dirhams in 9 months

The UAE-based Yalla Group, which is listed on the New York Stock Exchange, announced that it achieved revenues of 754.2 million dirhams during the first nine months of the fiscal year 2021, with a growth rate of 137% compared to profits for the same period last year.

The group said in a statement today that it also witnessed a strong growth in revenues for the third quarter of this year, reaching 262 million dirhams, an increase of more than 110.8% compared to the same period last year.

According to the financial statements announced by the Yalla Group, the owner of the largest audio platform for digital entertainment and social media in the Middle East and North Africa, the company’s non-GAAP net profit in the third quarter rose to 122 million dirhams, a growth rate of more than 114.5% compared to the same period From 2020, while the company maintained a high non-GAAP net profit margin at 46.6%, which reflects its strong ability to generate income and control expenses.

The average number of active monthly users increased by 81.9% to 25.9 million in the third quarter of this year, compared to 14.3 million during the third quarter of last year.

The Chairman of the Board of Directors of "Yalla" Group, Tao Yang, praised the financial results achieved by the company during the third quarter, which reflect the strong financial position of the group and the success of its strategic plan to enhance its financial performance, develop its services and expand its user base.

Yang stressed that Yalla is currently witnessing a unique development stage despite the various challenges and obstacles facing all sectors in the world, noting that this constituted an incentive to think in a new way that contributes to overcoming challenges and turning them into opportunities for growth and progress towards the future, as the company worked in cooperation with All of its employees and partners promote its business principles of supporting cultural pluralism, putting customers at the top of the company's priorities in addition to adopting simple work methods and moving towards clear goals.

For his part, Saifi Ismail, Group President, praised the strong financial results that it achieved, thanks to its adoption of a work approach based on innovation and clear future planning, which contributed to the expansion of the user base, noting that the Yalla Parchis application contributed to increasing the base of users. Users an average of 786 thousand users.

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