Mobvista Incorporation · HKEX:1860
Mobvista Incorporation — Mobvista — FY2024 Earnings Presentation
22 slides from Mobvista Incorporation's earnings presentation, April 2025
Slide 1: The Growth Hub for Developers
INVESTOR PRESENTATION FY 2024 THE GROWTH HUB FOR DEVELOPERS Empowering Innovation, Accelerating Growth April, 2025
Slide 2: Disclaimer
Disclaimer INVESTOR PRESENTATION FY 2024 This document contains forward-looking statements. These statements relate to expectations concerning matters that (a) are not historical facts, (b) predict or forecast future events or results, or (c) embody assumptions that may prove to have been inaccurate
Slide 3: Key Metrics
INVESTOR PRESENTATION FY 2024 2024 2013 $1,508 M $138 M Key Founded Revenue Adjusted EBITDA Metrics $105 M 42% ~70% Free Cash Flow1 Y/Y Growth of Ad-tech % of Mintegral Revenue Net Revenue2 Contributed by Smart Bidding Note ： 1 Free Cash Flow=Operating Cash Flow – CAPEX – Supply Chain Financing； 2 R
Slide 4: Global Presence
INVESTOR PRESENTATION FY 2024 Global Presence Traffic Distribution by Regions (in % of Total Number of Devices) - 2024 20 Offices Headquarter: Singapore 711 Employees 3% China ~60% R&D Staff 97% Overseas ~130 Customer Footprint The lowest proportion The highest proportion 4
Slide 5: Potential Impact of New US Regulations and Intensifying U.S.-China Competition
INVESTOR PRESENTATION FY 2024 Potential Impact of New US Regulations and Intensifying U.S.-China Competition ➢ Executive Order 14117, Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-related Data by Countries of Concern ➢ Protecting Americans’ Data from Forei
Slide 6: Hyper-Casual Plateaued After Rocket Growth Since COVID, Whereas Casual Will Propel Momentum
INVESTOR PRESENTATION FY 2024 Hyper-Casual Plateaued After Rocket Growth Since COVID, Whereas Casual Will Propel Momentum Global Mobile Game Revenue of Hyper- Hyper-casual: Ad fatigue and limited innovation in gameplay are casual and Casual ($Bn) major constraints ◼ Ad fatigue: Users have less toler
Slide 7: The Rise of Hybrid Monetization in Mid-core and Hardcore Genres Will Mainly Drive IAA
INVESTOR PRESENTATION FY 2024 The Rise of Hybrid Monetization in Mid-core and Hardcore Genres Will Mainly Drive IAA Revenue of Games Hybrid Monetization in Global Mobile Game Casual: Gradual encompassing IAP to overcome ad fatigue Market (%) ◼ -75% revenue from IAA in P5Y ◼ To enhance user retention
Slide 8: By 2029, Mobile Game IAA Will Contribute ~42% of Overall Revenue
INVESTOR PRESENTATION FY 2024 By 2029, Mobile Game IAA Will Contribute ~42% of Overall Revenue, Approaching Parity With IAP Global Mobile Game Revenue by Source ($Bn) ‘19-’24 ‘24-’29 +7% CAGR CAGR 197 +15% 144 83(42%) IAA 17% 8% 56(39%) 70 21(30%) 115(58%) 88(61%) IAP 15% 5% 49(70%) 2019 2024E 2029E
Slide 9: E-Commerce & DTC Are Open To 3P Ad Networks
INVESTOR PRESENTATION FY 2024 E-Commerce & DTC Are Open To 3P Ad Networks For Broad + Differentiated Reach, Better Customization, And Interactive Ad Formats E-comm ad budgets for 3P ad Key reasons that e-comm & DTC advertisers are willing to try 3P Ad networks are expected to grow networks Key e-com
Slide 10: The Global Mobile App Advertising Market Has a Size of ~$350Bn in 2024
INVESTOR PRESENTATION FY 2024 The Global Mobile App Advertising (MAA) Market Has a Size of ~$350Bn in 2024, With a 9% CAGR in the Next 5 Years Mobile App Advertising spending market size Game MAA market size Global Mobile App Advertising Spending, 2019-2029 ($Bn) Global Mobile App Advertising Spendi
Slide 11: Global User Time and Ad Spending Split B/W Walled Gardens and the Open Internet
INVESTOR PRESENTATION FY 2024 Global User Time and Ad Spending Split B/W Walled Gardens and the Open Internet, 2019-2029 (%) User Time Ad Revenue ~40% ~45% 45%~50% 57% 66% 66%~70% Open Internet Walled Garden ~60% ~55% 50%~55% 43% 34% 30%~34% 2019 2024E 2029E 2019 2024E 2029E Source: the Trade Desk;
Slide 12: Open Internet vs. Walled Garden
INVESTOR PRESENTATION FY 2024 Open Internet vs. Walled Garden from Ad Spending to Time Spending ADVERTISER USER IMPRESSION AD SPEND WALLED GARDEN 30% 50% ~ ~ 34% 55% OPEN INTERNET 45% + Google AdSense & Ad Manager + 66% ADS ~ SDK ~ 50% 70% Source: the Trade Desk; Statista; OpenX; Insider Intelligenc
Slide 13: Our Ad Platform Leads in Performance on the Open Internet
INVESTOR PRESENTATION FY 2024 Our Ad Platform Leads in Performance on the Open Internet AppsFlyer Performance Index 17 (2024) Android Index - Volume Ranking – Global - All Categories iOS SSOT Index - Volume Ranking – Global - All Categories Walled Garden Mintegral 13
Slide 14: Rapid Growth of Apps from Small and Medium-Sized Developers Integrating Our Ads SDK
INVESTOR PRESENTATION FY 2024 Rapid Growth of Apps from Small and Medium-Sized Developers Integrating Our Ads SDK… 90,000 70,000 50,000 30,000 10,000 14
Slide 15: With Rapid Growth of Ads Request from Mintegral SDK
INVESTOR PRESENTATION FY 2024 …With Rapid Growth of Ads Request from Mintegral SDK Unit: 1 Billion Requests / Day 100 80 60 40 20 - 15
Slide 16: Bidding Product Family: Human Experience Driven to Data-Driven + AI-Driven
INVESTOR PRESENTATION FY 2024 Bidding Product Family (in Progress): Human Experience Driven to Data-Driven + AI-Driven Flagship Products R&D Products Discontinued Products Target ROAS (Hybrid) (Launched in Mar 2025) Target ROAS (IAA) (Launched in May 2023) A trial of Smart Bidding Basic Products Pro
Slide 17: Vertical Diversified by Advanced AI Capability
INVESTOR PRESENTATION FY 2024 Vertical Diversified by Advanced AI Capability Mintegral Revenue Allocation by Vertical % of Mintegral Revenue Contributed by Smart Bidding (US$ M) 1,443 90% 75% 403 980 +82% 60% YoY 222 45% +37% 1,040 30% YoY 759 15% 0% 2023 2024 Game Non-game Note: Numbers may not add
Slide 18: Stable Growth in Revenue
INVESTOR PRESENTATION FY 2024 Stable Growth in Revenue… Group Revenue Mintegral Revenue (US$ M) (US$ M) 1,508 1,443 +43% +47% 1,054 980 2023 2024 2023 2024 18
Slide 19: with Enhanced Operating Leverage
INVESTOR PRESENTATION FY 2024 ...with Enhanced Operating Leverage Fixed Operating Expenses Change Expense by Type (US$ M) (US$ M) 152 43 44 41 41 8.5% 94 7.5% 6.9% 63 61 51 54 4.7% 23H1 23H2 24H1 24H2 Selling and Research and General and Marketing Development Administrative Fixed Operating Expenses
Slide 20: Earnings Break-downed in Half Year
INVESTOR PRESENTATION FY 2024 Earnings Break-downed in Half Year 138 75 105 63 EBITDA1 Trends +31% 52 53 (US$ M) YoY 2023 2024 23H1 23H2 24H1 24H2 41 34 Profit2 Trends (US$ M) 17 10 7 7 +150% YoY 23H1 23H2 24H1 24H2 2023 2024 If we add back the arbitration-related expenses for Reyun and the one-time
Slide 21: Sound Cash Flow Driven by Sound Business Model
INVESTOR PRESENTATION FY 2024 Sound Cash Flow Driven by Sound Business Model Accounts Receivable Accounts Payable Free Cash Flow 1 Turnover Days Turnover Days (US$ M) 90 86 86 105 DAYS DAYS DAYS Month Month Month 52 51 DAYS DAYS 44 Month DAYS Month Month Month Month Month Month Month Month 30 Month
Slide 22: Q&A Contact Us
INVESTOR PRESENTATION FY 2024 A Leading Comprehensive Technology Platform for Global App Developers Q&A CONTACT US www.mobvista.com IR@mobvista.com © 2025 Mobvista. All rights reserved. Contains Mobvista’s Confidential and Proprietary information and shall not be disclosed or reproduced without the