Mobvista Achieves $1.05B in 2023 Revenue, Sees Significant Profit Increase
Performance highlights:
-
Group Revenue: Revenue increased 17.9% year-over-year (YoY) to the recorded high of
$1.05 billion , and net revenue increased 26.2% YoY to$284 million . -
Group Profitability: A gross profit of
$217 million , up 22.7% YoY, and an adjusted EBITDA of$105 million , up 191.3% YoY. -
Mintegral, a
Mobvista subsidiary specializing in programmatic advertising, showcased exceptional performance. In 2023, Mintegral's revenue climbed to$980 million , up 18.8% YoY.
Effective cost management and operational optimization markedly boosted business profitability.
During the reporting period,
Regarding operational management in the fourth quarter of 2023, Mintegral achieved an impressive publisher retention rate of 94.7%. This period also saw a significant expansion in the supply-side business, as evidenced by a 21.8% increase in the number of apps partnering with Mintegral.
Additionally, from 2022 to 2023, the retention rate of enterprise-level customers contributing over
Significant Breakthroughs in Mid-Core and Hardcore Game Revenue
Mintegral has also actively seized opportunities in hybrid monetization, enhancing its targeting and bidding strategies, including return on ad spend (ROAS), to ensure the achievement of advertising goals.
As a result, while maintaining its leading position in casual games, Mintegral further captured the mid-core and hardcore game market, which has a higher proportion of in-app purchases. Revenue from mid-core and hardcore games increased 66.3%, accounting for 29.1% of Mintegral's total revenue in 2023.
The company conducted share buybacks exceeding
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