Revenue exceeds $456 million, up 48% year-on-year, and an adjusted EBITDA up by 162% year-on-year.
GUANGZHOU, China, Aug. 30, 2022 /PRNewswire/ -- Mobvista, a leading technology platform providing a unified stack of SaaS products and services, today announced its 2022 interim financial results, including revenue of $456 million in H1 2022, a 48% year-on-year increase, and an adjusted EDITBA of $5.824 million, up 162% year-on-year. Additionally, Mobvista's net revenue after deducting costs allocated to publishers achieved $111 million, a year-on-year increase of 99.5%.
The steady growth in performance was attributable to the stable performance of Mintegral, Mobvista's programmatic advertising platform. During the reporting period, Mintegral achieved revenue of $410 million, a year-on-year increase of 82.8%. As of Q2 2022, the number of new partnered advertisers increased 29.3% from the previous quarter, with an advertiser retention rate of 87.7%. In addition, the number of new partnered publishers increased by 19% from the previous quarter, with a 92.2% publisher retention rate.
At the same time, Mintegral has diversified its customer vertical base beyond gaming to include a higher share of eCommerce, social and content, lifestyle, and utility apps, among others. Through this approach, Mintegral's revenue growth rate under utility apps skyrocketed by 862.2% in the first half of 2022.
The customer value of Mintegral's retained customers has also increased significantly. For the twelve months leading up to June 30th, 2022, the company's dollar-based net expansion rate was 197.5%, reflecting the significant increase in the value of existing customers.
Mobvista has also carried out strategic restructuring by shrinking non-core businesses to optimize business operations. These measures have helped Mobvista record a gross profit of $89.98 million, a year-on-year increase of 112%.
Mobvista is a leading technology platform dedicated to driving global business growth in the digital age. Mobvista's goal is to build a SaaS tooling ecosystem that includes products and solutions for mobile marketing, data analytics, creative automation, monetization, and elastic cloud cost optimization. Mobvista aims to be the catalyst that connects China and the rest of the world by helping customers build ambitious business models and drive business growth.
Mobvista was founded in Guangzhou, China, in 2013 and has been listed on the Main Board of the Stock Exchange of Hong Kong (01860.HK) since December 2018. Mobvista has close to 1000 employees with offices in 17 cities worldwide.