Home News Yalla Group Limited announces Fourth Quarter and Full Year 2021 Financial Results

Yalla Group Limited announces Fourth Quarter and Full Year 2021 Financial Results

by Dubai Forum
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  • Yalla’s revenues crossed AED 1 billion, a growth rate of 102% during 2021
  • Yalla recorded a non-GAAP net income of AED 464.5 million during 2021
  • The group’s average MAUs increased by 71.0% to 28.1 million during Q4 2021

Dubai : 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), has announced its fourth-quarter and full-year earnings for the fiscal year ending on December 31, 2021.

According to the yearly financial results, Yalla has achieved a record growth in revenues hitting AED 1 billion, an increase of 102.4% compared to the fiscal year 2020. The group also recorded an annual non-GAAP net income of AED 464.57 million, a growth rate of 97.7% compared to 2020, in which the net income amounted to AED 235 million.

The Group also reported solid fourth-quarter results where Yalla Group’s total revenue jumped by almost 39.7% YoY and reached AED 248.2 million while the non-GAAP net income rose to AED 101.3 million, a growth of 18.1% YoY. Yalla also maintained a non-GAAP net margin of more than 40% in the fourth quarter, at 40.8%, despite simultaneously accelerating its new business initiatives. Meanwhile, the group’s average MAUs increased by 71.0% from 16.4 million in the fourth quarter of 2020 to 28.1 million in the fourth quarter of 2021.

Major Achievements

Commenting on the strong financial results achieved by the group, Tao Yang, Founder, Chairman and Chief Executive Officer of Yalla Group Limited, said that 2021 marked a remarkable year for Yalla to elevate the diversity of businesses and services to new heights. “As always, we strive to broaden our product range through diverse developments, investments and collaborations devoted to fulfilling MENA users’ evolving online social networking and entertainment needs,” Yang added.

Speaking about major achievements made by Yalla Group in the fourth quarter of 2021, Yang said that Yalla Group has released the YallaChat version 0.3, with new functions tailored to MENA’s local user preferences. Moreover, our game distribution business progressed smoothly, with two investments in mid-core to hard-core game projects. “Of special note, we successfully launched the MENA region’s first-ever social metaverse app, WAHA, enabling our users to enjoy immersive, 3D social scenes,” Yang added.

No. 1 Online Social Networking Platform

For his part, President of the Group Mr. Saifi Ismail commended the outstanding financial results achieved by the company saying: “2021 was an important year for Yalla Group. We continued to roll out products that are tailored to MENA users’ needs and diversify the services and businesses that Yalla covers. Operationally, the growth momentum continues as we expand our user community and advance our monetization capabilities. We are pleased to report a solid fourth quarter where Yalla Group’s total revenue increased by almost 39.7% YoY and reached AED 248.2 million in 4Q.

“Our experienced marketing team implemented innovative, customized campaigns to promote products that resonate deeply with the local culture. As a result, in the fourth quarter, our monthly active users reached 28.1 million. Yalla Group’s paying users also increased to 8.4 million.” he added,

Ismail stressed that Yalla Group aspires to become the No. 1 online social networking and entertainment platform in the MENA region, and this vision never changes. “We will keep in mind our core values of prioritizing our users, embracing diversity, and operating with a simple, pragmatic, pioneering and enterprising approach as we work to achieve our goals,” he noted.

DF

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