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2021-11-09
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Yalla Group Limited Announces Unaudited Third Quarter 2021 Financial Results
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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":844879724,"tweetId":"844879724","gmtCreate":1636419320990,"gmtModify":1636419328337,"author":{"id":3581761553455766,"idStr":"3581761553455766","authorId":3581761553455766,"authorIdStr":"3581761553455766","name":"SunnyBoyz","avatar":"https://static.tigerbbs.com/08065fda7a858dc38bec2e41d6acaf71","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":22,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>Yes</p></body></html>","htmlText":"<html><head></head><body><p>Yes</p></body></html>","text":"Yes","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/844879724","repostId":2182774074,"repostType":4,"repost":{"id":"2182774074","kind":"news","pubTimestamp":1636408800,"share":"https://www.laohu8.com/m/news/2182774074?lang=&edition=full","pubTime":"2021-11-09 06:00","market":"us","language":"en","title":"Yalla Group Limited Announces Unaudited Third Quarter 2021 Financial Results","url":"https://stock-news.laohu8.com/highlight/detail?id=2182774074","media":"StreetInsider","summary":"DUBAI, UAE, Nov. 8, 2021 /PRNewswire/ -- Yalla Group Limited (\"Yalla\" or the \"Company\") (NYSE: YALA)","content":"<p>DUBAI, UAE, Nov. 8, 2021 /PRNewswire/ -- Yalla Group Limited (\"Yalla\" or the \"Company\") (NYSE: YALA), the leading voice-centric social networking and entertainment platform in the Middle East and North Africa (MENA), today announced its unaudited financial results for the third quarter ended September 30, 2021.</p>\n<p>Third Quarter Ended September 30, 2021 Financial and Operating Highlights</p>\n<p>Revenues were US$71.3 million in the third quarter of 2021, representing an increase of 110.8% from the third quarter of 2020.</p>\n<p>- Revenues generated from chatting services in the third quarter of 2021 were US$53.9 million.</p>\n<p>- Revenues generated from games services in the third quarter of 2021 were US$17.4 million.</p>\n<p>Net income was US$25.3 million in the third quarter of 2021 and net margin was 35.5%, compared with net loss of US$31.0 million in the third quarter of 2020.</p>\n<p>Non-GAAP net income[1] was US$33.2 million in the third quarter of 2021, representing an increase of 114.5% from the third quarter of 2020. Non-GAAP net margin was 46.6% in the third quarter of 2021.</p>\n<p>Average MAUs[2] increased by 81.9% to 25.9 million in the third quarter of 2021 from 14.3 million in the third quarter of 2020.</p>\n<p>The number of paying users[3] on our platform increased by 51.3% to 7.7 million in the third quarter of 2021 from 5.1 million in the third quarter of 2020.</p>\n<p>[1] Non-GAAP net income represents net income before share-based compensation. Non-GAAP net income is a non-GAAP financial measure. See the sections entitled \"Non-GAAP Financial Measures\" and \"Reconciliation of GAAP and Non-GAAP Results\" for more information about the non-GAAP measures referred to in this press release.</p>\n<p>[2] \"Average MAUs\" refers to the average monthly active users in a given period calculated by dividing (i) the sum of active users for each month of such period, by (ii) the number of months in such period. \"Active users\" refers to registered users who accessed any of our mobile applications at least once during a given period.</p>\n<p>[3] \"Paying users\" refers to registered users who played a game or purchased our virtual items or upgrade services using virtual currencies on our platform at least once in a given period, except for users who receive all of their virtual currencies directly or indirectly from us for free. \"Registered users\" refers to users who have registered accounts on our platform as of a given time; a registered user is not necessarily a unique user, however, as an individual may register multiple accounts on our platform, and consequently, the number of registered users we present in this press release may not equal the number of unique users who have registered on our platform as of a given time.</p>\n<p><img src=\"https://static.tigerbbs.com/e2bca7542e45829118c1372f971c9676\" tg-width=\"765\" tg-height=\"393\" referrerpolicy=\"no-referrer\">[4] Beginning in the fourth quarter of 2021, we will report our average MAUs and paying users at the Company level instead of by product, to better reflect our increasingly integrated product ecosystem.</p>\n<p>\"We delivered another quarter of robust growth with excellent operating and financial results,\" said Mr. Yang Tao, Founder, Chairman and Chief Executive Officer of Yalla. \"We are happy to share with you that we are working on a cutting-edge social app, which will feature the first-ever social metaverse designed for the MENA region and may be made available to our users as early as the first quarter of 2022. These strategic initiatives enable us to meet the evolving online social networking needs of local users and foster synergies across all of Yalla's social networking products. Yalla Parchis has also received positive feedback from the market since its launch and contributed 786,000 MAU for Yalla Group during the third quarter. Furthermore, we established Yalla Game, a holding subsidiary under Yalla Group, to focus on our mid-core and hard-core game distribution business in the MENA region. Our group's MAUs continued to grow, up 81.9% year over year to 25.9 million, as we deepened our outreach activities and conducted effective and engaging marketing campaigns targeting the local culture. Growing user engagement on our platform propelled an increase in the number of paying users by 51.3% year over year to 7.7 million.</p>\n<p>\"We are delighted and proud to have won a prestigious Middle East Technology Excellence award in the \"Gaming - Media & Entertainment\" category, which is a testament to our technological achievements and a commendation of our leading social networking and entertainment ecosystem. As a company deeply rooted in the MENA region, we will continue to develop digital products tailored to the specific needs of local users and contribute to the development of the local digital economy,\" concluded Mr. Yang.</p>\n<p>\"Yalla recorded remarkable operating and financial performance in the third quarter of 2021, with a rapidly expanding user base, outstanding operating efficiency and abundant cash reserves, underpinned by our unique market positioning,\" said Ms. Karen Hu, Chief Financial Officer of Yalla. \"We are pleased that our group's total revenues grew by 110.8% year over year to US$71.3 million. We also maintained high profitability in the third quarter with a non-GAAP net margin of 46.6%, fueled by our strong monetization capabilities and disciplined SG&A spending. Going forward, we will continue to invest in innovative products and services to enhance our ecosystem and remain focused on our mission of building MENA's most popular destination for online social networking and entertainment activities.\"</p>\n<p>Third Quarter 2021 Financial Results</p>\n<p>Revenues</p>\n<p>Our revenues were US$71.3 million in the third quarter of 2021, a 110.8% increase from US$33.8 million in the third quarter of 2020. The increase was primarily driven by the broadening of Yalla Group's user base and monetization capability enhancements. Our average MAUs increased by 81.9% from 14.3 million in the third quarter of 2020 to 25.9 million in the third quarter of 2021. Another primary contributor to our solid revenue growth was the significant growth in the number of paying users, which increased from 5.1 million in the third quarter of 2020 to 7.7 million in the third quarter of 2021.</p>\n<p>In the third quarter of 2021, our revenues generated from chatting services were US$53.9 million and our revenues generated from games services were US$17.4 million.</p>\n<p>Costs and expenses</p>\n<p>Our total costs and expenses were US$45.6 million in the third quarter of 2021, compared with US$64.7 million in the third quarter of 2020. The decrease was primarily due to less share-based compensation recognized during the third quarter of 2021, which was partially offset by the increase in costs and expenses due to our expanding business scale.</p>\n<p>Our cost of revenues was US$23.4 million in the third quarter of 2021, compared with US$25.6 million in the third quarter of 2020.The decrease was mainly driven by lower share-based compensation expenses of US$1.3 million recognized during the third quarter of 2021, a 91.0% decrease from US$14.1 million in the third quarter of 2020, and partially offset by an increase in commission fees for third-party payment platforms resulting from our expanding business scale. Excluding share-based compensation expenses, cost of revenues as a percentage of our total revenues decreased from 34.1% in the third quarter of 2020 to 31.1% in the same period of 2021 due to continued optimization of our revenue mix which resulted in less increase in commission fees for third-party payment platforms.</p>\n<p>Our selling and marketing expenses were US$11.0 million in the third quarter of 2021, compared with US$8.5 million in the same period last year. The increase was mainly driven by higher advertising and market promotion expenses led by our continued user acquisition efforts and expanding product portfolio, and partially offset by decreased share-based compensation expenses of US$1.8 million during the third quarter of 2021, compared with US$4.5 million in the third quarter of 2020. Excluding share-based compensation expenses, selling and marketing expenses as a percentage of our total revenues remained relatively stable at 12.9% in the third quarter of 2021.</p>\n<p>Our general and administrative expenses were US$7.3 million in the third quarter of 2021, compared with US$28.9 million in the same period last year. The decrease was mainly driven by lower share-based compensation expenses of US$4.6 million recognized during the third quarter of 2021, an 82.9% decrease from US$27.1 million in the third quarter of 2020, and partially offset by an increase in salaries and other benefits for our general and administrative staff. This in turn was driven by an expansion of our general and administrative staff. Excluding share-based compensation expenses, general and administrative expenses as a percentage of our total revenues decreased from 5.3% in the third quarter of 2020 to 3.8% in the third quarter of 2021 due to economies of scale.</p>\n<p>Our technology and product development expenses were US$3.9 million in the third quarter of 2021, compared with US$1.7 million in the same period last year. The increase was mainly driven by an increase in salaries and benefits for our technology and product development staff, and partially offset by decreased share-based compensation expenses of US$0.2 million during the third quarter of 2021, compared with US$0.8 million in the third quarter of 2020. Excluding share-based compensation expenses, technology and product development expenses as a percentage of our total revenues also increased from 2.6% in the third quarter of 2020 to 5.1% in the same period of 2021.</p>\n<p>Operating income</p>\n<p>Operating income was US$25.7 million in the third quarter of 2021, compared with an operating loss of US$30.9 million in the third quarter of 2020.</p>\n<p>Non-GAAP operating income[5]</p>\n<p>Non-GAAP operating income (which excluded share-based compensation expenses) in the third quarter of 2021 was US$33.6 million, a 116.2% increase from US$15.6 million in the same quarter last year.</p>\n<p>[5] Non-GAAP operating income represents operating income before share-based compensation. Non-GAAP operating income is a non-GAAP financial measure. See the sections entitled \"Non-GAAP Financial Measures\" and \"Reconciliation of GAAP and Non-GAAP Results\" for more information about the non-GAAP measures referred to in this press release.</p>\n<p>Income tax expense</p>\n<p>Our income tax expense was US$0.42 million in the third quarter of 2021, compared with US$0.11 million in the third quarter of 2020.</p>\n<p>Net income</p>\n<p>As a result of the foregoing, our net income was US$25.3 million in the third quarter of 2021, compared with net loss of US$31.0 million in the third quarter of 2020.</p>\n<p>Non-GAAP net income[6]</p>\n<p>Non-GAAP net income (which excluded share-based compensation expenses) in the third quarter of 2021 was US$33.2 million, a 114.5% increase from US$15.5 million in the same quarter last year.</p>\n<p>[6] Non-GAAP net income represents net income before share-based compensation. Non-GAAP net income is a non-GAAP financial measure. See the sections entitled \"Non-GAAP Financial Measures\" and \"Reconciliation of GAAP and Non-GAAP Results\" for more information about the non-GAAP measures referred to in this press release.</p>\n<p>Net income per share</p>\n<p>Basic and diluted net income per ordinary share were US$0.17 and US$0.14 in the third quarter of 2021, while basic and diluted net loss per ordinary share were both US$0.43 in the same period of 2020.</p>\n<p>Non-GAAP net income per ordinary share[7]</p>\n<p>Non-GAAP basic and diluted net income per ordinary share were US$0.22 and US$0.18 respectively in the third quarter of 2021, compared to US$0.20 for both in the same period of 2020.</p>\n<p>[7] Non-GAAP net income per ordinary share is non-GAAP net income attributable to ordinary shareholders of Yalla Group Limited, divided by weighted average number of basic and diluted share outstanding. Non-GAAP net income per share is a non-GAAP financial measure. See the sections entitled \"Non-GAAP Financial Measures\" and \"Reconciliation of GAAP and Non-GAAP Results\" for more information about the non-GAAP measures referred to in this press release.</p>\n<p>Cash and cash equivalents</p>\n<p>As of September 30, 2021, we had cash and cash equivalents of US$326.3 million, as compared to cash and cash equivalents of US$292.4 million as of June 30, 2021.</p>\n<p>Share Repurchase Program</p>\n<p>Pursuant to the 2021 Share Repurchase Program announced on May 21, 2021, in the third quarter, the company repurchased 1,042,985 American depositary shares (\"ADSs\") representing 1,042,985 Class A ordinary shares from the open market with cash for an aggregate amount of approximately US$14.0 million.</p>\n<p>Outlook</p>\n<p>For the fourth quarter of 2021, the management of the Company currently expects revenues to be between US$67.0 million and US$72.0 million, which would represent an increase of approximately 38.6% to 48.9% from US$48.3 million for the fourth quarter of 2020.</p>\n<p>The above outlook is based on the current market conditions and reflects the Company management's current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.<img src=\"https://static.tigerbbs.com/507b024f9e9e104a3c6b11389271a427\" tg-width=\"697\" tg-height=\"524\" width=\"100%\" height=\"auto\"></p>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Yalla Group Limited Announces Unaudited Third Quarter 2021 Financial Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYalla Group Limited Announces Unaudited Third Quarter 2021 Financial Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-09 06:00 GMT+8 <a href=https://www.streetinsider.com/dr/news.php?id=19178921><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>DUBAI, UAE, Nov. 8, 2021 /PRNewswire/ -- Yalla Group Limited (\"Yalla\" or the \"Company\") (NYSE: YALA), the leading voice-centric social networking and entertainment platform in the Middle East and ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=19178921\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"YALA":"雅乐科技"},"source_url":"https://www.streetinsider.com/dr/news.php?id=19178921","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2182774074","content_text":"DUBAI, UAE, Nov. 8, 2021 /PRNewswire/ -- Yalla Group Limited (\"Yalla\" or the \"Company\") (NYSE: YALA), the leading voice-centric social networking and entertainment platform in the Middle East and North Africa (MENA), today announced its unaudited financial results for the third quarter ended September 30, 2021.\nThird Quarter Ended September 30, 2021 Financial and Operating Highlights\nRevenues were US$71.3 million in the third quarter of 2021, representing an increase of 110.8% from the third quarter of 2020.\n- Revenues generated from chatting services in the third quarter of 2021 were US$53.9 million.\n- Revenues generated from games services in the third quarter of 2021 were US$17.4 million.\nNet income was US$25.3 million in the third quarter of 2021 and net margin was 35.5%, compared with net loss of US$31.0 million in the third quarter of 2020.\nNon-GAAP net income[1] was US$33.2 million in the third quarter of 2021, representing an increase of 114.5% from the third quarter of 2020. Non-GAAP net margin was 46.6% in the third quarter of 2021.\nAverage MAUs[2] increased by 81.9% to 25.9 million in the third quarter of 2021 from 14.3 million in the third quarter of 2020.\nThe number of paying users[3] on our platform increased by 51.3% to 7.7 million in the third quarter of 2021 from 5.1 million in the third quarter of 2020.\n[1] Non-GAAP net income represents net income before share-based compensation. Non-GAAP net income is a non-GAAP financial measure. See the sections entitled \"Non-GAAP Financial Measures\" and \"Reconciliation of GAAP and Non-GAAP Results\" for more information about the non-GAAP measures referred to in this press release.\n[2] \"Average MAUs\" refers to the average monthly active users in a given period calculated by dividing (i) the sum of active users for each month of such period, by (ii) the number of months in such period. \"Active users\" refers to registered users who accessed any of our mobile applications at least once during a given period.\n[3] \"Paying users\" refers to registered users who played a game or purchased our virtual items or upgrade services using virtual currencies on our platform at least once in a given period, except for users who receive all of their virtual currencies directly or indirectly from us for free. \"Registered users\" refers to users who have registered accounts on our platform as of a given time; a registered user is not necessarily a unique user, however, as an individual may register multiple accounts on our platform, and consequently, the number of registered users we present in this press release may not equal the number of unique users who have registered on our platform as of a given time.\n[4] Beginning in the fourth quarter of 2021, we will report our average MAUs and paying users at the Company level instead of by product, to better reflect our increasingly integrated product ecosystem.\n\"We delivered another quarter of robust growth with excellent operating and financial results,\" said Mr. Yang Tao, Founder, Chairman and Chief Executive Officer of Yalla. \"We are happy to share with you that we are working on a cutting-edge social app, which will feature the first-ever social metaverse designed for the MENA region and may be made available to our users as early as the first quarter of 2022. These strategic initiatives enable us to meet the evolving online social networking needs of local users and foster synergies across all of Yalla's social networking products. Yalla Parchis has also received positive feedback from the market since its launch and contributed 786,000 MAU for Yalla Group during the third quarter. Furthermore, we established Yalla Game, a holding subsidiary under Yalla Group, to focus on our mid-core and hard-core game distribution business in the MENA region. Our group's MAUs continued to grow, up 81.9% year over year to 25.9 million, as we deepened our outreach activities and conducted effective and engaging marketing campaigns targeting the local culture. Growing user engagement on our platform propelled an increase in the number of paying users by 51.3% year over year to 7.7 million.\n\"We are delighted and proud to have won a prestigious Middle East Technology Excellence award in the \"Gaming - Media & Entertainment\" category, which is a testament to our technological achievements and a commendation of our leading social networking and entertainment ecosystem. As a company deeply rooted in the MENA region, we will continue to develop digital products tailored to the specific needs of local users and contribute to the development of the local digital economy,\" concluded Mr. Yang.\n\"Yalla recorded remarkable operating and financial performance in the third quarter of 2021, with a rapidly expanding user base, outstanding operating efficiency and abundant cash reserves, underpinned by our unique market positioning,\" said Ms. Karen Hu, Chief Financial Officer of Yalla. \"We are pleased that our group's total revenues grew by 110.8% year over year to US$71.3 million. We also maintained high profitability in the third quarter with a non-GAAP net margin of 46.6%, fueled by our strong monetization capabilities and disciplined SG&A spending. Going forward, we will continue to invest in innovative products and services to enhance our ecosystem and remain focused on our mission of building MENA's most popular destination for online social networking and entertainment activities.\"\nThird Quarter 2021 Financial Results\nRevenues\nOur revenues were US$71.3 million in the third quarter of 2021, a 110.8% increase from US$33.8 million in the third quarter of 2020. The increase was primarily driven by the broadening of Yalla Group's user base and monetization capability enhancements. Our average MAUs increased by 81.9% from 14.3 million in the third quarter of 2020 to 25.9 million in the third quarter of 2021. Another primary contributor to our solid revenue growth was the significant growth in the number of paying users, which increased from 5.1 million in the third quarter of 2020 to 7.7 million in the third quarter of 2021.\nIn the third quarter of 2021, our revenues generated from chatting services were US$53.9 million and our revenues generated from games services were US$17.4 million.\nCosts and expenses\nOur total costs and expenses were US$45.6 million in the third quarter of 2021, compared with US$64.7 million in the third quarter of 2020. The decrease was primarily due to less share-based compensation recognized during the third quarter of 2021, which was partially offset by the increase in costs and expenses due to our expanding business scale.\nOur cost of revenues was US$23.4 million in the third quarter of 2021, compared with US$25.6 million in the third quarter of 2020.The decrease was mainly driven by lower share-based compensation expenses of US$1.3 million recognized during the third quarter of 2021, a 91.0% decrease from US$14.1 million in the third quarter of 2020, and partially offset by an increase in commission fees for third-party payment platforms resulting from our expanding business scale. Excluding share-based compensation expenses, cost of revenues as a percentage of our total revenues decreased from 34.1% in the third quarter of 2020 to 31.1% in the same period of 2021 due to continued optimization of our revenue mix which resulted in less increase in commission fees for third-party payment platforms.\nOur selling and marketing expenses were US$11.0 million in the third quarter of 2021, compared with US$8.5 million in the same period last year. The increase was mainly driven by higher advertising and market promotion expenses led by our continued user acquisition efforts and expanding product portfolio, and partially offset by decreased share-based compensation expenses of US$1.8 million during the third quarter of 2021, compared with US$4.5 million in the third quarter of 2020. Excluding share-based compensation expenses, selling and marketing expenses as a percentage of our total revenues remained relatively stable at 12.9% in the third quarter of 2021.\nOur general and administrative expenses were US$7.3 million in the third quarter of 2021, compared with US$28.9 million in the same period last year. The decrease was mainly driven by lower share-based compensation expenses of US$4.6 million recognized during the third quarter of 2021, an 82.9% decrease from US$27.1 million in the third quarter of 2020, and partially offset by an increase in salaries and other benefits for our general and administrative staff. This in turn was driven by an expansion of our general and administrative staff. Excluding share-based compensation expenses, general and administrative expenses as a percentage of our total revenues decreased from 5.3% in the third quarter of 2020 to 3.8% in the third quarter of 2021 due to economies of scale.\nOur technology and product development expenses were US$3.9 million in the third quarter of 2021, compared with US$1.7 million in the same period last year. The increase was mainly driven by an increase in salaries and benefits for our technology and product development staff, and partially offset by decreased share-based compensation expenses of US$0.2 million during the third quarter of 2021, compared with US$0.8 million in the third quarter of 2020. Excluding share-based compensation expenses, technology and product development expenses as a percentage of our total revenues also increased from 2.6% in the third quarter of 2020 to 5.1% in the same period of 2021.\nOperating income\nOperating income was US$25.7 million in the third quarter of 2021, compared with an operating loss of US$30.9 million in the third quarter of 2020.\nNon-GAAP operating income[5]\nNon-GAAP operating income (which excluded share-based compensation expenses) in the third quarter of 2021 was US$33.6 million, a 116.2% increase from US$15.6 million in the same quarter last year.\n[5] Non-GAAP operating income represents operating income before share-based compensation. Non-GAAP operating income is a non-GAAP financial measure. See the sections entitled \"Non-GAAP Financial Measures\" and \"Reconciliation of GAAP and Non-GAAP Results\" for more information about the non-GAAP measures referred to in this press release.\nIncome tax expense\nOur income tax expense was US$0.42 million in the third quarter of 2021, compared with US$0.11 million in the third quarter of 2020.\nNet income\nAs a result of the foregoing, our net income was US$25.3 million in the third quarter of 2021, compared with net loss of US$31.0 million in the third quarter of 2020.\nNon-GAAP net income[6]\nNon-GAAP net income (which excluded share-based compensation expenses) in the third quarter of 2021 was US$33.2 million, a 114.5% increase from US$15.5 million in the same quarter last year.\n[6] Non-GAAP net income represents net income before share-based compensation. Non-GAAP net income is a non-GAAP financial measure. See the sections entitled \"Non-GAAP Financial Measures\" and \"Reconciliation of GAAP and Non-GAAP Results\" for more information about the non-GAAP measures referred to in this press release.\nNet income per share\nBasic and diluted net income per ordinary share were US$0.17 and US$0.14 in the third quarter of 2021, while basic and diluted net loss per ordinary share were both US$0.43 in the same period of 2020.\nNon-GAAP net income per ordinary share[7]\nNon-GAAP basic and diluted net income per ordinary share were US$0.22 and US$0.18 respectively in the third quarter of 2021, compared to US$0.20 for both in the same period of 2020.\n[7] Non-GAAP net income per ordinary share is non-GAAP net income attributable to ordinary shareholders of Yalla Group Limited, divided by weighted average number of basic and diluted share outstanding. Non-GAAP net income per share is a non-GAAP financial measure. See the sections entitled \"Non-GAAP Financial Measures\" and \"Reconciliation of GAAP and Non-GAAP Results\" for more information about the non-GAAP measures referred to in this press release.\nCash and cash equivalents\nAs of September 30, 2021, we had cash and cash equivalents of US$326.3 million, as compared to cash and cash equivalents of US$292.4 million as of June 30, 2021.\nShare Repurchase Program\nPursuant to the 2021 Share Repurchase Program announced on May 21, 2021, in the third quarter, the company repurchased 1,042,985 American depositary shares (\"ADSs\") representing 1,042,985 Class A ordinary shares from the open market with cash for an aggregate amount of approximately US$14.0 million.\nOutlook\nFor the fourth quarter of 2021, the management of the Company currently expects revenues to be between US$67.0 million and US$72.0 million, which would represent an increase of approximately 38.6% to 48.9% from US$48.3 million for the fourth quarter of 2020.\nThe above outlook is based on the current market conditions and reflects the Company management's current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.","news_type":1},"isVote":1,"tweetType":1,"viewCount":352,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/844879724"}
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