DALLAS, May 19, 2025 /CNW/ — AT&T Inc. (“AT&T”) has learned that TRC Capital Investment Corporation (“TRC”) has made an unsolicited “mini-tender” offer, dated May 5, 2025. TRC has offered to purchase up to 4 million shares of AT&T common stock at $26.38 per share. The offer expires on June 3, 2025, unless extended by TRC.

AT&T is in no way associated with TRC and recommends that shareholders reject this unsolicited offer.

AT&T cautions shareholders that the offer is being made at a price below the current trading price of AT&T common stock. AT&T also cautions shareholders that TRC can extend the offer and delay payment beyond the scheduled expiration date of June 3, 2025.

Mini-tender offers seek less than 5 percent of a company’s outstanding shares. This lets the offering company avoid many disclosure and procedural requirements the U.S. Securities and Exchange Commission (“SEC”) requires for tender offers.

The SEC has issued an alert on its website regarding mini-tender offers. This alert advises that mini-tender offers “have been increasingly used to catch investors off guard” and that investors “may end up selling their securities at below-market prices.”

AT&T urges investors to obtain current market quotes for their shares of common stock, consult with their financial advisors and exercise caution with TRC’s offer. Shareholders who already tendered their shares may withdraw them by providing the written notice described in the TRC offering documents before the expiration of the offer and at other times described in the offering.

AT&T requests that a copy of this news release be included with all distributions of materials related to TRC’s offer for shares of AT&T common stock.

About AT&T
We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 140+ years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at about.att.com. Investors can learn more at investors.att.com.

© 2025 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property.

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SOURCE AT&T

SHENZHEN, China, May 19, 2025 /PRNewswire/ — X Financial (NYSE: XYF) (“X Financial”, the “Company” or “we”), a leading Chinese fintech platform, today announced its unaudited financial results for the first quarter of fiscal year 2025 ended March 31, 2025.

First Quarter 2025 Operational Highlights

Total loan amount facilitated and originated[1] in the first quarter of 2025 was RMB35,149 million, up 63.4% from RMB21,505 million in the same period of 2024.Total outstanding loan balance[2] at the end of the first quarter of 2025 was RMB58,403 million, up 33.3% from RMB43,812 million in the same period of 2024.The Company facilitated and originated approximately 3.14 million loans in the first quarter of 2025, an increase of 75.6% year-over-year. The average loan amount per transaction was RMB11,181.Number of active borrowers[3] in the first quarter of 2025 was 2.43 million, up 77.1% from 1.37 million in the same period of 2024, reflecting strong user growth.Cumulative number of active borrowers[4] reached 17.4 million as of March 31, 2025, an increase of 27.6% from 13.6 million in the same period of 2024.Asset quality continued to improve. The delinquency rate for all outstanding loans that are past due for 31-60 days[5] was 1.25% as of March 31, 2025 (improved from 1.61% in the same period of 2024), and the delinquency rate for all outstanding loans that are past due 91-180 days[6] was 2.73% (improved from 4.37% in the same period of 2024).

First Quarter 2025 Operational Highlights

First Quarter 2025 Financial Highlights

Total net revenue in the first quarter of 2025 was RMB1,937.5 million (US$267.0 million), representing an increase of 60.4% from RMB1,208.0 million in the same period of 2024. The robust revenue growth was driven by higher loan facilitation volume and solid interest and guarantee-related income.Income from operations in the first quarter of 2025 was RMB572.9 million (US$78.9 million), an increase of 52.1% compared to RMB376.5 million in the same period of 2024. The Company maintained a strong operating margin despite increased investments in borrower acquisitions and marketing to drive user acquisition, reflecting continued cost discipline and operating efficiency.Net income in the first quarter of 2025 was RMB458.1 million (US$63.1 million), compared with RMB363.1 million in the same period of 2024 (a 26.2% increase year-over-year).Non-GAAP[7] adjusted net income in the first quarter of 2025 excluding share-based compensation and certain investment-related items was RMB466.8 million (US$64.3 million), up 44.9% from RMB322.2 million in the same period of 2024. This reflects the Company’s core profitability on an adjusted basis.Net income per basic and diluted American depositary share (“ADS”) in the first quarter of 2025 was RMB10.92 and RMB10.56 (US$1.50 and US$1.46), respectively, compared with RMB7.44 and RMB7.32 in the same period of 2024.Non-GAAP adjusted net income per basic and diluted ADS in the first quarter of 2025 was RMB11.10 and RMB10.74 (US$1.53 and US$1.48), respectively, compared with RMB6.60 and RMB6.54 in the same period of 2024.

Each ADS represents six Class A ordinary shares.  

First Quarter 2025 GAAP and Non-GAAP Financial Summary

Mr. Kent Li, President of X Financial, commented: “We are pleased with how 2025 has begun. In the first quarter, we facilitated RMB35.1 billion in loans — a 9% sequential increase and 63% year-over-year growth. It was one of our strongest quarters ever, reflecting solid borrower demand and continued progress in risk management. Our team remains focused on expanding opportunities through both new partnerships and existing relationships, enhancing our technology platform and data-driven underwriting to support profitable scalability, and balancing growth and risk as we broaden access for qualified borrowers. We are also continually improving the borrower experience with faster decisions, simpler application processes, and greater transparency, while strengthening platform reliability and support tools to help customers manage loans with confidence. Despite the typical seasonal impact of the Chinese New Year holiday, we achieved sequential growth in both loan volume and revenue. Credit performance further improved, with delinquency rates for outstanding loans past due for 31-60 days and 91-180 days down 22% and 37% year-over-year, respectively. These results reflect steady progress in growing our platform responsibly, and we remain confident in our ability to deliver on our 2025 targets through disciplined execution and continued innovation.”

Mr. Frank Fuya Zhang, Chief Financial Officer of X Financial, added: “In Q1 2025, we delivered strong financial results with revenue up 60% year-over-year to RMB1.94 billion, net income of RMB458 million, and net income per basic ADS of RMB10.92. These results reflect our consistent execution and disciplined cost management.”

Business Outlook & Share Repurchase Plans： 

Business Outlook: Based on current trends, X Financial expects the total loan amount facilitated and originated in the second quarter of 2025 to be in the range of RMB37.5 billion to RMB39.5 billion, reflecting continued strong demand and consistent execution following a robust first quarter.Capital Return to Shareholders: X Financial has approved a new share repurchase program of up to US$100 million, effective from June 1, 2025 through November 30, 2026. This new program is in addition to the existing share repurchase plan approved in December 2024, which has approximately US$15.9 million in remaining authorization. The Company did not repurchase any shares during the first quarter of 2025. The program reflects the Company’s continued confidence in its long-term growth and commitment to delivering shareholder value. Repurchases under the program will be subject to market conditions and other factors and may be modified or suspended at management’s discretion. 

First Quarter 2025 Financial Results

Revenue Growth and Business Drivers: In the first quarter of 2025, X Financial delivered robust growth, with total net revenue reaching RMB1,937.5 million (US$267.0 million), representing a 60.4% increase from RMB1,208.0 million in the first quarter of 2024. This growth was primarily driven by significantly higher loan facilitation volume, fueled by robust borrower demand and increased marketing and borrower acquisition investments. Revenue growth was broad-based across the Company’s business lines: loan facilitation service fees rose 75.6% year-over-year to RMB1,078.4 million, post-origination service fees increased 74.2% to RMB266.0 million, and guarantee income more than doubled to RMB82.9 million. Other revenue also surged 172.0% to RMB200.0 million, mainly due to an increase in referral service fee for introducing borrowers to other platforms. These gains more than offset a modest 7.3% decline in financing income to RMB310.1 million, which resulted from lower average loan balances held by the Company. Importantly, X Financial achieved this strong top-line growth while maintaining disciplined cost management, even as it ramped up marketing and borrower acquisition spending to drive volume growth. Supported by higher profitability and the efficiency of its business model, the Company’s return on equity[8] improved to approximately 25.5%, up from 24.1% in the prior-year quarter.

Asset Quality and Provisions:  Credit quality improvements during the quarter helped temper risk costs despite lending growth. Delinquency rates for loans 31–60 days and 91–180 days past due declined 22% and 37% year-over-year, respectively, positively impacting overall credit loss experience and underscoring effective risk management despite higher loan volumes. Provision for loans receivable remained stable at RMB62.2 million, while provision for contingent guarantee liabilities increased to RMB63.7 million from RMB47.9 million, aligned with expanded guaranteed loan volume. Overall, credit-related costs were well-controlled, benefiting from improved asset quality and collections effectiveness.

Profitability and Margins:  X Financial achieved robust profitability in Q1 2025 while investing in growth initiatives. Operating margin[8] was approximately 29.6%, slightly lower than 31.2% in Q1 2024. The increase in operating costs and expenses was mainly attributable to the increase in borrower acquisition costs as a result of the elevated marketing efforts in the current period, though the Company continued to demonstrate strong revenue expansion and disciplined expense management. Net profit margin8 was about 23.6%, with net income growing 26.2% year-over-year. Net income per basic ADS rose significantly to RMB10.92, up 46.8% year-over-year.

Funding and Liquidity:  The Company’s balance sheet remains solid, supporting ongoing growth. Cash and cash equivalents increased to RMB1,389.5 million (US$191.5 million) as of March 31, 2025, up from RMB984.6 million at year-end 2024, driven by strong operating cash generation and efficient working capital management. Total restricted cash was RMB712.3 million (US$98.2 million), bringing total cash (including restricted) to over RMB2.1 billion. Shareholders’ equity grew to RMB7,435.4 million (US$1.02 billion), reflecting the growth of retained earnings. The equity-to-assets ratio exceeded 60%, underscoring a conservative leverage profile and ample capital buffers.

Regulatory Update: The regulatory landscape for online consumer finance in Mainland China remains dynamic and continues to evolve, presenting both challenges and opportunities. We remain fully committed to regulatory compliance and closely aligned with policy developments.

A recent notice from the National Financial Regulatory Administration regarding internet-based lending reaffirmed the existing regulatory trajectory rather than introducing significant changes. The overarching objective continues to be fostering responsible credit access while ensuring financial stability.

We view increased oversight of loan facilitation platforms as positive, reflecting regulatory recognition of our role in the broader financial ecosystem and supporting industry maturity and long-term viability.

Given that the online consumer finance sector is relatively young, the regulatory framework continues to develop. While new policies may result in higher compliance costs or operational adjustments, they also open opportunities for innovation, standardization, and sustainable growth.

We will proactively engage with regulators and partners, diversifying funding channels, broadening loan offerings, and strengthening risk controls to support healthy business development under the evolving regulatory framework.

Conference Call

X Financial’s management team will host an earnings conference call at 7:30 AM U.S. Eastern Time on May 20, 2025 (7:30 PM Beijing / Hong Kong Time on May 20, 2025).

Dial-in details for the earnings conference call are as follows:

Please dial in ten minutes before the call is scheduled to begin and provide the passcode to join the call.

A replay of the conference call may be accessed by phone at the following numbers until May 27, 2025:

About X Financial

X Financial (NYSE: XYF) (the “Company”) is a leading Chinese fintech platform. The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate and originate loans to prime borrowers under a risk assessment and control system.

For more information, please visit http://ir.xiaoyinggroup.com.

Use of Non-GAAP Financial Measures

In evaluating our business, we consider and use non-GAAP measures as supplemental measures to review and assess our operating performance. We present the non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We believe that the use of the non-GAAP financial measures facilitates investors’ assessment of our operating performance and help investors to identify underlying trends in our business that could otherwise be distorted by the effect of certain income or expenses that we include in income (loss) from operations and net income (loss). We also believe that the non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

We use in this press release the following non-GAAP financial measures: (i) adjusted net income (loss), (ii) adjusted net income (loss) per basic ADS, (iii) adjusted net income (loss) per diluted ADS, (iv) adjusted net income (loss) per basic share, and (v) adjusted net income (loss) per diluted share, each of which excludes share-based compensation expense, impairment losses on financial investments, income (loss) from financial investments, gain (loss) from financial investments at equity method and impairment losses on long-term investments. These non-GAAP financial measures have limitations as analytical tools, and when assessing our operating performance, investors should not consider them in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.

We mitigate these limitations by reconciling the non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP results” set forth at the end of this press release.

Exchange Rate Information

This press release contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2567 to US$1.00, the exchange rate in effect as of March 31, 2025, as published in the Federal Reserve Board’s H.10 statistical release. Percentages stated in this release are calculated based on the RMB amounts.

Disclaimer

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the followings: the Company’s goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China; the demand for and market acceptance of its marketplace’s products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law.

Use of Projections

This announcement also contains certain financial forecasts (or guidance) with respect to the Company’s projected financial results. The Company’s independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections or guidance for the purpose of their inclusion in this announcement, and accordingly, they did not express an opinion or provide any other form assurance with respect thereto for the purpose of this announcement. This guidance should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of the Company, or that actual results will not differ materially from those set forth in the prospective financial information. Inclusion of the prospective financial information in this announcement should not be regarded as a representation by any person that the results contained in the prospective financial information will actually be achieved. You should review this information together with the Company’s historical information.

For more information, please contact:

X Financial
Mr. Noah Kauffman (Chief Financial Strategy Officer)
E-mail: ir@xiaoying.com

Christensen IR
In China: Mr. Rene Vanguestaine
Phone: +86-178-1749-0483
E-mail: rene.vanguestaine@christensencomms.com

In U.S.: Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: linda.bergkamp@christensencomms.com

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SOURCE X Financial

DUBAI, UAE, May 19, 2025 /PRNewswire/ — Yalla Group Limited (“Yalla” or the “Company”) (NYSE: YALA), the largest Middle East and North Africa (MENA)-based online social networking and gaming company, today announced its unaudited financial results for the first quarter ended March 31, 2025.

First Quarter 2025 Financial and Operating Highlights

Revenues were US$83.9 million in the first quarter of 2025, representing an increase of 6.5% from the first quarter of 2024.Revenues generated from chatting services in the first quarter of 2025 were US$53.5 million.Revenues generated from games services in the first quarter of 2025 were US$30.1 million.Net income was US$36.4 million in the first quarter of 2025, a 17.0% increase from US$31.1 million in the first quarter of 2024. Net margin[1] was 43.4% in the first quarter of 2025.Non-GAAP net income[2] was US$39.1 million in the first quarter of 2025, a 10.9% increase from US$35.3 million in the first quarter of 2024. Non-GAAP net margin[3] was 46.6% in the first quarter of 2025.Average MAUs[4] increased by 17.9% to 44.6 million in the first quarter of 2025 from 37.8 million in the first quarter of 2024.The number of paying users[5] on our platform decreased by 8.0% to 11.8 million in the first quarter of 2025 from 12.8 million in the first quarter of 2024.

“We kicked off 2025 with a strong first quarter. Even with the impact of Ramadan, which fell entirely within the first quarter this year, our revenues reached US$83.9 million, up 6.5% year over year and beating the upper end of our guidance,” said Mr. Yang Tao, Founder, Chairman and CEO of Yalla. “Furthermore, without increasing selling and marketing expenses, we drove a 17.9% increase in average MAUs to 44.6 million, mainly attributable to our refined user acquisition strategy tailored for Ramadan, as well as our AI-driven traffic acquisition optimizations.

“Our product portfolio is thriving and primed for expansion. We completed first-round product testing on an exciting Match-3 title slated for launch in the third quarter of 2025 and boast a robust lineup of promising mid-core games in our pipeline. To deepen our commitment to returning shareholder value, we plan to further accelerate our share buyback program, raising this year’s target by an additional US$22 million to a total of US$50 million for 2025. Looking ahead, we will remain dedicated to harnessing technological innovation as our engine and user needs as our compass, expanding the boundaries of MENA’s digital ecosystem as we realize our vision of building the largest destination for online social networking and entertainment activities in MENA,” Mr. Yang concluded.

Ms. Karen Hu, CFO of Yalla, commented, “We are pleased to report a robust performance in the first quarter of 2025 through continued execution excellence and efficiency enhancements. Disciplined cost management and improved operating leverage propelled a 17.0% year-over-year increase in net income to US$36.4 million. Our net margin also expanded substantially year over year to 43.4%, while non-GAAP net margin rose to 46.6%. These financial accomplishments enabled us to accelerate our share buyback program, with 4,275,812 shares totaling US$27.4 million repurchased from January 1 through May 16, 2025. Moreover, all shares repurchased this year will be canceled, generating sustained shareholder benefits. Supported by solid fundamentals and a clear strategic roadmap, we are confident in our ability to seize future opportunities and create lasting value for our stakeholders.”

First Quarter 2025 Financial Results

Revenues                                                                                                      

Our revenues were US$83.9 million in the first quarter of 2025, a 6.5% increase from US$78.7 million in the first quarter of 2024. The increase was primarily driven by our broadening user base and enhanced monetization capability. Our average MAUs increased by 17.9% to 44.6 million in the first quarter of 2025 from 37.8 million in the first quarter of 2024.

In the first quarter of 2025, revenues generated from chatting services were US$53.5 million, and revenues from games services were US$30.1 million.

Costs and expenses

Our total costs and expenses were US$52.7 million in the first quarter of 2025, a 6.2% increase from US$49.6 million in the first quarter of 2024.

Our cost of revenues was US$29.2 million in the first quarter of 2025, a 2.2 % increase from US$28.6 million in the same period last year, primarily due to higher commission fees paid to third-party payment platforms as a result of increasing revenues generated. Cost of revenues as a percentage of our total revenues decreased to 34.8% in the first quarter of 2025 from 36.3% in the first quarter of 2024.

Our selling and marketing expenses were US$6.9 million in the first quarter of 2025, a 14.3% decrease from US$8.1 million in the same period last year, primarily due to a decrease in incentive compensation. Selling and marketing expenses as a percentage of our total revenues decreased to 8.3% in the first quarter of 2025 from 10.3% in the first quarter of 2024.

Our general and administrative expenses were US$8.7 million in the first quarter of 2025, a 30.8% increase from US$6.6 million in the same period last year, primarily due to an increase in incentive compensation and higher professional service fees. General and administrative expenses as a percentage of our total revenues increased to 10.4% in the first quarter of 2025 from 8.4% in the first quarter of 2024.

Our technology and product development expenses were US$7.8 million in the first quarter of 2025, a 25.0% increase from US$6.3 million in the same period of last year, primarily due to an increase in salaries and benefits for our technology and product development staff, driven by an increase in the headcount of our technology and product development staff to support the development of new businesses and expansion of our product portfolio. Technology and product development expenses as a percentage of our total revenues increased to 9.3% in the first quarter of 2025 from 8.0% in the first quarter of 2024.

Operating income

Operating income was US$31.2 million in the first quarter of 2025, a 7.1% increase from US$29.1 million in the same period last year.

Non-GAAP operating income[6]

Non-GAAP operating income in the first quarter of 2025 was US$34.0 million, a 1.8% increase from US$33.3 million in the same period last year.

Interest income

Interest income was flat at US$6.6 million in the first quarter of 2025, compared with the first quarter of 2024.

Income tax expense

Income tax expense was US$1.4 million in the first quarter of 2025, compared with US$3.5 million in the first quarter of 2024, primarily due to a decrease in UAE corporate tax.

Net income

As a result of the foregoing, our net income was US$36.4 million in the first quarter of 2025, a 17.0% increase from US$31.1 million in the first quarter of 2024.

Non-GAAP net income

Non-GAAP net income in the first quarter of 2025 was US$39.1 million, a 10.9% increase from US$35.3 million in the same period last year.

Earnings per ordinary share

Basic and diluted earnings per ordinary share were US$0.23 and US$0.20, respectively, in the first quarter of 2025, while basic and diluted earnings per ordinary share were US$0.20 and US$0.17, respectively, in the same period of 2024.

Non-GAAP earnings per ordinary share[7]

Non-GAAP basic and diluted earnings per ordinary share were US$0.25 and US$0.22, respectively, in the first quarter of 2025, compared with US$0.22 and US$0.20, respectively, in the same period of 2024.

Cash and cash equivalents, restricted cash, term deposits and short-term investments 

As of March 31, 2025, we had cash and cash equivalents, restricted cash, term deposits and short-term investments of US$690.9 million, compared with US$656.3 million as of December 31, 2024.

Share repurchase program

Pursuant to the Company’s share repurchase program beginning on May 21, 2021, with an extended expiration date of May 21, 2026, from January 1 through May 16, 2025, the Company repurchased 4,275,812 American depositary shares (“ADSs”), representing 4,275,812 Class A ordinary shares, from the open market with cash for an aggregate amount of approximately US$27.4 million, including US$5.4 million in the first quarter of 2025. As of May 16, 2025, the Company had cumulatively completed cash repurchases in the open market of 11,580,950 ADSs, representing 11,580,950 Class A ordinary shares, for an aggregate amount of approximately US$76.9 million, since the inception of the current share repurchase program. The aggregate value of ADSs and/or Class A ordinary shares that remain available for purchase under the current share repurchase program was US$73.1 million as of May 16, 2025.

Outlook

For the second quarter of 2025, Yalla currently expects revenues to be between US$76.0 million and US$83.0 million.

The above outlook is based on 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.

Conference Call

The Company’s management will host an earnings conference call on Monday, May 19, 2025, at 8:00 PM U.S. Eastern Time, which is Tuesday, May 20, 2025, at 4:00 AM Dubai Time, or Tuesday, May 20, 2025, at 8:00 AM Beijing/Hong Kong time.

Dial-in details for the earnings conference call are as follows:

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.yalla.com.  

A replay of the conference call will be accessible until May 26, 2025, by dialing the following telephone numbers:

Non-GAAP Financial Measures

To supplement the financial measures prepared in accordance with generally accepted accounting principles in the United States, or GAAP, this press release presents non-GAAP financial measures, namely non-GAAP operating income, non-GAAP net income, non-GAAP net margin and non-GAAP basic and diluted earnings per ordinary share, as supplemental measures to review and assess the Company’s operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define non-GAAP operating income as operating income excluding share-based compensation. We define non-GAAP net income as net income excluding share-based compensation. We define non-GAAP net margin as non-GAAP net income as a percentage of revenues. We define non-GAAP net income attributable to Yalla Group Limited’s shareholders as net income attributable to Yalla Group Limited’s shareholders, excluding share-based compensation. We define non-GAAP earnings per ordinary share as non-GAAP net income attributable to Yalla Group Limited’s shareholders, divided by the weighted average number of basic and diluted shares outstanding.

By excluding the impact of share-based compensation expenses, which are non-cash charges, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s past performance and future prospects. Investors can better understand the Company’s operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess its core operating results, as they exclude share-based compensation expenses, which are not expected to result in cash payments. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.

The non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using the non-GAAP financial measures is that they do not reflect all items of income and expense that affect the Company’s operations. Share-based compensation has been and may continue to be incurred in the Company’s business and is not reflected in the presentation of non-GAAP financial measures. Further, the non-GAAP financial measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by providing the relevant disclosure of its non-GAAP financial measures in the reconciliations to the nearest U.S. GAAP performance measures, all of which should be considered when evaluating its performance. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.

Reconciliations of GAAP and non-GAAP results are set forth at the end of this press release.

About Yalla Group Limited

Yalla Group Limited is the largest MENA-based online social networking and gaming company, in terms of revenues in 2022. The Company operates two flagship mobile applications, Yalla, a voice-centric group chat platform, and Yalla Ludo, a casual gaming application featuring online versions of board games, popular in MENA, with in-game voice chat and localized Majlis functionality. Building on the success of Yalla and Yalla Ludo, the Company continues to add engaging new content, creating a regionally-focused, integrated ecosystem dedicated to fulfilling MENA users’ evolving online social networking and gaming needs. Through its holding subsidiary, Yalla Game Limited, the Company has expanded its capabilities in mid-core and hard-core games in the MENA region, leveraging its local expertise to bring innovative gaming content to its users. In addition, the growing Yalla ecosystem includes YallaChat, an IM product tailored for Arabic users, WeMuslim, a product that supports Arabic users in observing their customs, and casual games such as Yalla Baloot and 101 Okey Yalla, developed to sustain vibrant local gaming communities in MENA. Yalla is also actively exploring outside of MENA with Yalla Parchis, a Ludo game designed for the South American markets. Yalla’s mobile applications deliver a seamless experience that fosters a sense of loyalty and belonging, establishing highly devoted and engaged user communities through close attention to detail and localized appeal that profoundly resonates with users.

For more information, please visit: https://ir.yalla.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about Yalla Group Limited’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Yalla Group Limited’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Yalla Group Limited does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

Yalla Group Limited
Investor Relations
Kerry Gao – IR Director
Tel: +86-571-8980-7962
Email: ir@yalla.com 

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
Email: yalla@tpg-ir.com 

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: yalla@tpg-ir.com 

View original content:https://www.prnewswire.com/news-releases/yalla-group-limited-announces-unaudited-first-quarter-2025-financial-results-302459034.html

SOURCE Yalla Group Limited