BEIJING, Aug. 31, 2020 /PRNewswire/ -- Mobvista (stock code: 01860.HK) released its financial report covering the first half of 2020.
Despite the COVID-19 pandemic, Mobvista revenue for H1 2020 showed strong growth, reaching a total of US$266.9 million, which translates to an 18.6% year-on-year increase. The adjusted net profit was US$23.31 million, showing an increase of 34.2% compared with the same period of last year. In addition, the financial report reveals that programmatic advertising continues to be the company's core growth engine. In H1 2020, the company's programmatic advertising revenue reached US$191.9 million, 51.4% higher compared with the same period of 2019 and accounting for 71.9% of Mobvista's total revenue in the first half of 2020.
According to Clement Cao, Mobvista Co-founder and President, with the advent of the post-COVID epidemic period, an increasing number of companies are undergoing digital transformation and paying more attention to the input-output ratio of marketing campaigns, making the company's data-driven and transparent programmatic advertising platform a superior solution for its clients.
The financial report shows that the numbers of app developers and advertisers accessing Mobvista's programmatic advertising platform grew dramatically: 1,112 new app developers joined the platform for a 36.3% year-on-year increase, while the number of new advertisers went up by 43.0% compared to the same period last year. At the same time, the platform has maintained high user retention rates, at 91.6% for app developers and 91.3% for advertisers. Another thing to note is that, because to the impact of the COVID-19 pandemic, the development of the so-called "stay-at-home economy", and the increase in digitalization, the ARPU of the company's programmatic business continues to grow.
In the first half of 2020, the majority of Mobvista's investments went to R&D and towards expanding its high-quality traffic capabilities. With regards to R&D, US$24 million, accounting for 9.0% of the company's total revenue in H1 2020, was invested in the area to optimize models and algorithms in order to strengthen its core competitiveness. In terms of high-quality traffic expansion, Mobvista focused on subsidizing developers through a developer incentive program, investing US$5.5 million in this initiative across H1 2020.
It is worth mentioning that with the rapid increase in the number of users, Mobvista has paid significant attention to data security and privacy by enhancing its internal control systems and promoting stricter international. The company has successfully conducted and passed GDPR audits and COPPA certifications across its business sectors since 2018. In August 2020, Mobvista also passed the SOC2 audit performed by a third-party audit agency and received the SOC2 Type1 report.
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