Dubai, UAE — Yalla Group Limited, a Middle East and North Africa (MENA)-based online social networking and gaming company, recorded a revenue of AED 1.171 billion ($318.8 million) in 2023, from the AED 1.1 billion in 2022.
In a statement, the company said its fourth quarter revenue soared to AED 297.1 million ($80.9 million), a 7.7 percent increase from AED 275.9 million ($75.1 million) in the corresponding quarter of the previous year.
In the last quarter of 2023, Yalla’s net margin was 36.6 percent alongside an impressive non-GAAP net margin of 41.3 percent.
The company attributed fourth-quarter net income of AED 109 million ($29.7 million), an increase of 79 percent from AED 60.9 million in the fourth quarter of 2022, to “effective monetization strategies and judicious SG&A (Selling, General & Administrative expenses) management”.
Yalla reported a 13.3 percent year-over-year increase in average monthly active users (MAUs), reaching 36.2 million in the final quarter of 2023, escalating from 32 million in 2022’s fourth quarter.
Yang Tao, Founder, Chairman and CEO of Yalla, stressed that 2023 was a pivotal year for Yalla. “Amid the dynamic global landscape, we forged ahead with our effective strategy for high-quality growth and capped the year with strong fourth quarter financial and operational results.”