Yalla Group records Dhs248m revenues in 1st quarter

DUBAI: Yalla Group Limited, a Uae-based leading voice-centric social networking and entertainment plaform in the Middle East and North Africa (MENA), reported revenues of Dhs248 million in Q1-2021, a record increase of 221% compared to the same period of 2020.

Announcing its unaudited financial results for the first quarter ended March 31, 2021, the company said Dhs201.1 million of its revenues was generated from chating services and Dhs47.3 million from games services.

Yalla affirmed that such promising financial results reflect its sustained success in the social media sector, in addition to the gradual improvement in the general business climate in the Arab region.

According to Yalla’s financial results, the nonGAAP net income grew to Dhs123.3 million in the first quarter, an increase of 263.7% compared to the first quarter of 2020. NON-GAAP net margin was 49.7% in the first quarter of 2021.

Speaking on the occasion, Tao Yang, Founder, Chairman and Chief Executive Officer of Yalla, said: “We had a stellar first quarter marked by strong results in both operational and financial metrics. Yalla Group’s total revenue increased 39.9% quarter-over-quarter and reached Dhs248 million, exceeding the upper end of our guidance range by 7.4%.

“This exceptional performance was driven by our continued efforts to expand our user community, effective conversion of active users into paying users, and further advancement in monetization capabilities.”