YALA - Earnings call transcript Q1 2022

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Operator

Good morning, and good evening, ladies and gentlemen. Thank you for standing by for Yalla Group Limited's First Quarter 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. After management's prepared remarks, there will be a question-and-answer session. Today's conference call is being recorded.

the to turn today, speaker will Ms. I call your over host Now Director the Gao, for Kerry IR company. ahead, go Please ma'am.

Kerry Gao

earlier release Hello, everyone, IR Call. earnings Conference Quarter website XXXX and and welcome on to We Yalla's as well released newswire on now available is First as Earnings today, our the services. our

XXXX. under Securities please provision of harbor note continue, today Litigation we safe Act the discussion will U.S. the Private contain Before that forward-looking Reform of statements made the

Forward-looking inherent statements and uncertainties. involve risks

followed financial provide be may today. filed the results recent release of a Today, strategies. different from a outlook. measures. Chief unaudited be overview these Financial future other on not expressed our will such, law. this discuss note President, directly brief Mr. Executive Officer, release measures. developments. registration uncertainties details contains financial with the company's most by Karen and earnings non-GAAP non-GAAP obligation and Tao who give earnings will press to company's our Hu, materially Saifi the Yalla's views provide our our Yalla growth review does our will recent who in measures GAAP assume call Yalla's conference Chief Officer, the will Ismail, Further Mrs. information and statements of unaudited from our results As Please SEC. then and financial unaudited additional our release of Chairman will comparable Yang, our achievements regarding also hear any information of you the and to the forward-looking Mr. is an as risks He reconciliation required update and any unaudited and that financial press a statements, includes discussion except as GAAP well by as included

up to Following the management's remarks, will questions. call open we prepared

and With Chief over Q&A like Chief Operating Chairman for the Tao Mr. Yang. to the to Executive ahead, turn call Jeff I sir. session. Officer, Xu, Mr. now join said, our Please that go our will call Our Officer, would

Tao Yang

first Thank you, earnings Kerry, and call. conference thank our you, for quarter XXXX joining everyone,

have note excellent We a the still of strong a notwithstanding to of guidance. up undoubtedly This $XX.X XXXX, challenges. our are reaching pleased all-time shaping started is year full revenue on high million, our exceeding performance, higher an XXXX end with of to

the at among various geopolitical variables, in as adjust as appropriately. regions resurgences and situation, environment will we Looking strategy are ongoing macro fluctuation creating macro is such Yalla friction as our pandemic turbulence. monitoring company countries the and closely well

user with strategy our growth, For return focus are this our end, and on we sales based observations our increase testing market expansion. our user on and improving dynamics. marketing To high base of year, we pursuing that will instead carefully on adjusting merely investment of respect effectively to base

with to deliver compared while and expenses pace were able percentage quarter, optimizing first decreased the the top have as line that, During sales user quarter. of the we of -- marketing growth total previous solid revenues our growth. with a With

more company. innovative and revenue needs online more evolving emerging fulfill ecosystem products social entertainment future our experiences memorable for our will to we marketing by XXXX, business, of encouraged our the boundaries to further continue forward. improve We progress are to our going this stretch sales aim and efficiency and MENA networking streams and grow to to expand services deliver and while users' users launching creating In our

update. our let's a look closer new Now product take at

service entertainment online meet its users' offerings its player product and leading the expand and MENA the broaden in strives networking industry, social scope As unique to to needs. and the ecosystem of Yalla

mobile of launch game. Yalla first We we milestone Group. hardcore our the better a are share that is happy Limited, with Yalla to by This you for soon Game version facilitated will

to in continue efficiently potential looking near actively our an on with opportunities we part opportunities updates investors, Beyond forward for our more important group's strategy, also to ecosystem. are We broaden you, the and as diverse collectively sharing to future. Yalla's look of that, investment

and We out rolled important excited launched are iteration. several with features also to this share X.X YallaChat that we you have with recently version

previously, as within First among community Yalla with crucial step unified a all, to ecosystem we YallaChat Group a log of have in the Yalla using into to logging allow ID. shared will is user any building system which YallaChat their build our product users the

special this users with their already log encourage upgrade into incentives to started Yalla ID. free as with and marketing YallaChat Yalla, have We including gifts such coins Live to

and united and We accounts stickiness an to register boost enhancement increasing system. products. step users increase to the take important expect see this to motivate of loyalty and We to Group's as Yalla number product logging of for Yalla users' advantage synergies YallaChat our this

In simultaneously interactions order promoting social are with implemented YallaChat a to to users. of to users candidate YallaChat, moments On their also and will users friends share we games added designed and X.X make of good more introduced believe compete YallaChat, social Moment which encourage that, to have avid have broader exciting increase hop-up we share YallaChat a addition, top allow record memorable their in engage on to while users. game, emoji further to gaming function We with with range packages for our moment their new users friends. social bringing opportunity within and

functions upcoming and to with more details localized roll perfecting YallaChat. of work We will iterations the on welcome continue out user feedback,

Group's metaverse intently on As we more beginning our last in boundaries the that their WAHA introduced tremendous the our the efforts firmly this users the May. the cause In the team in for XD for role sharing at a networking for acceleration. region, iteration, we our ever enjoy as WAHA iteration potential Yalla's step latest another of products critical network as and network to reported out in for users existing launched online We virtual the an action additional features and rolled MENA well to application with quarter, focused first expand world a WAHA, feedback new social last options avatar. social represent to believe interactive of quarter, After forward designed build business. Yalla social important

and we for new our and possibilities more as closely unique experiences create explore are monitoring usage. MENA social industry We interactive trends

have I across my inaugural social, environment. important initiatives identify introduce our enable employees, development, community, the I update. report the performance for more our government for pleasure society sustainable also Before only showcasing to and It company our sought social Group's and our but environmental environmental, Yalla for to conclude, governance one economic, We is and and XXXX. practices that not

only company progress that a our first available IR platform now social in leading We proud not networking growth We by status our our and maintaining with are but robust and the growth. report, providing supporting life share to website. to while which comes the voice-centric believe region's goals as ESG is performance, on MENA's value. a with you better our people and financial responsibility the MENA also generating significant This is where social to with by economic future digital and access entertainment value create download by manifested to development

company commitment deeply U.A.E. transformation exceptional sustainable of levering in witnessed rooted a the profoundly have and and government MENA, we in this to remain a As by economy. achievements region inspired the digital

to have align to the prioritizing our and strategy, environmental continued make in Over the digitalization the considerable we country's and past efforts plan XX-year with economic economic responsibility. year, U.A.E.'s visionary progress

MENA. to invitation are take As successful ongoing with to we our this look to our continue us stakeholders our back to open in sustainability In happy for to would I that activity renew to we all and online engage most all like to social welcome conversation. on the opportunity We networking feedback. year, entertainment build closing, is reiterate vision another and destination popular in

we the work realize operate understanding, and guided with and diversity years, simple, of organized have our our a achieve remain to user simple cost hope to values, now Our Adhering users, vision, pragmatic, collaborate. our the enterprising realize next and approach and we pioneering principles within prioritize XX ensure been to has first, will dedicated as we target, vision. embrace team these shipment we to our of as driver that multicultural

expand local observe needs. services users' and local ecosystem will with continue evolving culture to diverse MENA's we ahead, closely and trend to Looking tailored products consistently Yalla's

will over President, a Saifi Now at for development. our to recent Mr. turn this closer look I call our Ismail,

Saifi Ismail

for Hello, everyone. Thanks joining us today.

look operations as and XXXX, further expanded our as on advanced momentum we community Operationally, a our monetization we performances. at carried as move well growth our user into take our as product our Let's capability.

has user Tao team in remarks, marketing to been sales As our and investments. acquisition boost our our marketing strategy adjusting on experienced mentioned his return efficiency the

the company's the $XX.X higher end We Group's are the a guidance. pleased beating million, solid quarter to of revenue report total with Yalla of

budgetary capacity from Our monthly later active while as total increased revenue promote also users this new expenses reaching us our increased sales last Group's marketing to Yalla leaving paying XX.X and our a decreased XX.X% and of million, year. flexibility year-over-year, quarter, more X.X percentage the products million. to user

our Parchis, Yalla that including are X, the in dual We XXX nine share also making Yalla terms In progress. Baloot board is cash of countries. in quarter good top game to revenue in portfolio, Parchis Okey ranked the under XX game and category happy Yalla Yalla

game user the retention stickiness rolled features increase have on new and out a further We chatting and mode user platform. which

engagement more daily than We various local encourage also participation holidays our hosted and platform, celebrate by user regions events, including in XX% Yalla on users. and our Independence Carnival Day the active to attracting of

and the in terms for among first was category first in Turkey in the X on Yalla, Okey Google the category Turkey game in the revenue Play quarter, game time, in XX was board ranked board top terms among in ranked on the top During XXX the revenue of of iOS.

top spent user card average consistently to been excellent and have of in XXX of Store. of under and already Saudi expand received category, terms to grow. has Arabia as improve base continue user official rating to Google stickiness X.X which the game on Play users' user last Yalla's X after continue an time Yalla received December, among active Apple we average Furthermore, ranked have the the per Okey willingness both launch already in feedback downloads and the on We Baloot very daily we seen

the Awards Yalla Gold another Group, Ludo solidifies the the such are collecting program in the Third recognition Africa. the be North base business our world's specifically user The investors. the are in North premier further XX we'll Africa for widely my are are innovation networking continue the tailored and of with encouraged been full we and reports East CFO, as who to XX this region. I like to the extremely remain Team New deeply awards, leading Annual in Group operational companies. this discuss our users' status have X,XXX while as may the is expectations in and MENA once needs base game, comparing to now entertainment gold will Tao to honored workplace Karen, evolving to the We in online services Africa innovative award East piece organizations the results. more executive good accomplishments turn this promise We more, awards MENA fully future. and share of Team MENA, of hope this commitment with strive MENA features excellent popular call serving regional field. will many social in over and committed With social for key eco and in vision from progress, Winner Team and privilege took We the more maintaining in and in in view in throughout networking years. Yalla at award app In and destination in feedback. thank It's to awards by yet as news the activities programs each team's year that, our as we awards entertainment ongoing to and to achievements only year will our region's Yalla Baloot's user professional exceed to Yalla innovation Yalla one the potential. as the delivering position platform the and XXXX our Middle and than Organization voice-centric to top a considered business East another entries reap would past than Group's The than We, recognized build most expand the Middle more MENA achievement year, the entertainment is to Awards, category. and North and awards user XX,XXX Year, of and Awards and XX our global work business nations tremendous our judges, international system distinction. position that recognize global With many our international more further Middle To nations for steep to to we financial this

Karen Hu

expenses in growth once in for ability Notably, you joining Hello, to group's top first macro recording the our XX.X%, an marketing amid the as promotion quarter-on-quarter of strong ample Thank impressive advertising. environment. ROI-based performance X.X% our to margin achieved of result to quarter-over-quarter $XX.X Furthermore, deliver reduced of expansion Yalla a as Thank and a selling to This us. cash achieving strong everyone. maintained approach again we reserves by net we illustrates ecosystem. ongoing well and you, We million. by uncertainty increase quarter standards, Saifi. line rapidly industry as evolving healthy our XXXX, also sustain of of X.X% growth non-GAAP

optimizing long-term and will efficiency As monetization boosting while profile resource move profitability utilization. we focus group's we as by further our through and allocation capital growing refining well XXXX, to sales product on the as innovation marketing

quarter fourth would of I detailed you walk for XXXX. the our like Now to through financials

the XXXX, a driven by increase Yalla and to period Group's year. last of Yalla base the user from in The broadening million Group's were increase of million revenues X.X% Our in $XX.X was quarter fourth capabilities. primarily monetization same the enhancements $XX.X

Our XX.X million the XXXX XX.X% by to MAUs first in of average in quarter increased of first million XXXX. from the XX.X quarter

Now our costs and expenses. let's look at

to was in revenues our from XXXX, the million benefits an first in the percentage resulting in the due million first maintenance and from increase Cost a portfolio increase first a to period of service of resulting technical phase, an operating quarter in as XX.X% in the of XX.X% salaries last total year, quarter $XX.X revenues expansion the same of $XX product of from in revenues of XXXX. XXXX expansion of cost increased the team. XX.X% increase of and quarter and Our primarily which from the

XXXX, promotion by quarter efforts and led expenses total million in increase quarter acquisition from the and and and advertising and user in XX.X% quarter from XX.X% of portfolio. the quarter were marketing our XX.X% disciplined our XX.X% promotion Selling revenues The Our which period product business same XXXX, selling primarily advertising marketing higher market were first year, more declined as a first the $X.X million to percentage first due driven $XX.X ratio the approach. in in last expanding expenses increasing of a continued XXXX, the XXXX. our of from first by in of of

quarter percentage Our due to expenses the decrease were and first percentage XX.X%. quarter year, general quarter of lower share-based $XX.X XXXX, in compensation a million administrative decreased from in of revenues and expenses General expenses decrease $X from period of XX.X% the same recognized as during million administrative the XX.X the total XXXX. first in first last to primarily a of -- XXXX

first development the last in development X.X% XXXX. development in Our the primarily of quarter increase expansion quarter an and product in a benefits the by of business X.X% total new the revenues product million the product same increase technology to XX% driven period first for increased development of Technology portfolio. technology of in our and $X.X and first XXXX, expenses our a product of of million salaries percentage quarter expenses were as from year, our XXXX to in the from and and due $X staff,

XXXX, As quarter such, the income operating our in year. period of with was in operating same first compared $XX.X million $XX.X million last income the of

Excluding share-based income the compensation, of non-GAAP $XX.X quarter million. operating was XXXX first in

XXXX. of million first Our of million income $X.XX first tax was quarter in XXXX, quarter with compared in $X.XX the the expense

Moving the to bottom line.

of period $XX.X XXXX was of year. million Our the net the -- compared income income in million $XX.X first sorry, in last net quarter with same

XXXX compensation was income Excluding the expenses, non-GAAP million. quarter for of net share-based first $XX

to like liquidity capital would and go through our I briefly Next, resources.

equivalents million with of May million as XXXX, equivalents streamlining Yalla we XXXX continuing, the commitment compared as This we XXXX, December and to XXXX. cash our cash As demonstrates improvement and On program. $XXX.X XX, share cash XX, $XXX.X of of XX, of repurchase and refining Group's cash had March announced operations.

$XX our on based are for market customer of of our an estimates repurchased revenues and with and be prepared an depository program In reflects As The has all today. and quarter the company's open are approved representing preliminary million. and outlook market May for Operator, American we subject operation to we of market change. through we demand, ready above second conditions to XXXX, XX, $XX of cash from take between million current of XXXX. ordinary $XX.X Furthermore, March A management current X,XXX,XXX Board the is have questions. approximately shares the of the amount XXXX, repurchase conditions million. which This our concludes and Directors XX, aggregate remarks expect extension Class shares, X,XXX,XXX to now

Operator

Man Please Our Instructions] CICC. ahead. [ph] go comes first with [Operator question from Kun

Unidentified Analyst

Kun on Shiqi. from Man questions asking of I'll is CICC. This be behalf

First, first for company a quarter the results. congratulate of to set I'd very like impressive

We have two questions today.

We're to even to about about the expected ask Ludo. does the company's what would significance example, metrics? is among like be question For traffic and I'd First, app the drive company on think Yalla of company's them? product the connect the second curious Our products various Yalla, YallaChat. company the to

that the has, for we'd company's operation the Given strategy forward. know like user current mature their more going the you. Thank they're product company that what's to

Tao Yang

Good questions. for you morning. answering be your Thank very And question. your I'll much

YallaChat. The first the drives ecosystem. in growth one our about consistent YallaChat

Ludo. hope market. will further improve MENA the Yalla question different committed we Actually, user products brand upgrade in communities prepared them. the in log quarter, we the And and various gradually user for system a earlier think integrate with to our and to step to As started this in is help Yalla among starting building will between for introduce stickiness. build second about ecosystem our Yalla crucial YallaChat, we We better remarks, Yalla with already have our unified a this Yalla. we marketing ecosystem this this the We mentioned of our large serving all in and strategy are products

become and online And MENA. design experience operations. to our we in we is past development first the goal. we such social to and to years, products are team our enjoy healthy, rapid This the and others. respect. from value remind also past experiences This gather is our stick in users and to have for our to the the priorities multicultural understanding experience why a Our for in mutual strategy social and largest community, how entertainment user corporate achieving entertainment product our vision culture, strived X over In relaxing top our with our also differentiate networking two why dedicated platform unique improve is be is years. It achieved with

Operator

comes question go next Our from Ge ahead. CICC. Please Shiqi with

Shiqi Ge

management for questions. And Thanks my congrats question. taking quarter. two another on I strong have

about that Yalla The first has their and product are gross and margin. YallaChat others? the does company separately my you over margin prioritizing guidance margin several second see ID, products any any given XXXX growing steady ROI? is product YallaChat the be each that in is [ph] the for that has operated long mentioned log soon declined to allow will the is, into a the the I have question XQ And And by points, group run? management users will the have percentage separate with

Tao Yang

good I'll morning. Shiqi. question. Hi, first the answering be

also ROI management our on our is KPI. have one KPIs, depending product separately internal accounting. independent They stage, has operated of development system. have and their efficient with just We one different Each

has product look stage, past certain for and our job stage capability the Yalla's subsequently increase is our target. company's to in task good is the which standards. current the monetization certain by the done always impressive a Once industry base reaches So we expand stickiness. monetization performances, example, user a shows user Yalla at if monetization for products becomes

in rather characteristic our product priorities fluid different than As These will adjust priorities accordingly. static. is phase, we each are

voice. not which unlike important only that we means products stage budget, is we to important, can a more say that is and different other So product is in which follows current the goal. contribute different have more ultimate our given product expectations can't YallaChat for a also

unique plan. connect the term, question long that looking be long-term the And also an on to is our meets avid I all in We of cultural a needs our by very challenging project. the the YallaChat users. adjust second It to product Karen. changing to of YallaChat monetize We to are product's the medium is think strategy utilize role will answered in it but based important not IM products. it an and situation. plays performance the And want

Karen Hu

me this Thank Thank to question. answer you, Yang. Allow you, Shiqi.

structure cost Our quite stable. is

we X gross our the have above margin quarters, For maintained level XX%. past

QX. of QX the of by which products to during our the expansion coming The salaries majority the our mainly for of fees, payment our and technical expansion were team. platforms, third-party due So new from costs in in operations and which fees service our to maintenance commission in the increase attributed the driven was in change stable increase costs

So expected. we for product that think looking with we to between fluctuations our And any new are expansion, X% X% new are a balance.

stable So can gross given about we our current will cost that cost think at margin above which answer hope our this and year, this relatively question. XX%. structure, I remain -- we which

Shiqi Ge

very Yes, Thank clear. you.

Operator

Our ahead. next from CITIC. question Feng comes Please with Kai go

Kaifang Jia

congratulations for taking questions. two have thanks And question. Management, my strong quarter. for I

investment first your about is The direction.

So what And are unit you invest? key complex market most current directions? are my under investment environment, what are the what about And will second main growth. products question -- your the the

the you the unit adjust management your quarters? next decline of future terms growth, will build growth of the the natural And several in strategy rate? in So how growth

Tao Yang

existing products I'll in And There the two this. Kaifang, at changing Hence, for drastically. to reasons generate due making first time. during of the for capital the questions. pressures projects we the pandemic we prudent look that one. will and our look volatile are decisions investment we so synergies are and invested with have services. them answering be at markets, stock far, The with if this If all uncertain environment more geopolitical becoming macro valuations we Thank friction is resurgences. also there you, be the

market maintaining complementary in this First, opportunities MENA will by process we we Yalla in look In its second, unique as business. verticals. type own well support its economic And with its leading more this its experience The as own advantages. may MENA be is continue the of with leveraging to to have market new needs. XXXX, regulations position local development and able at localization

to related our will any COO, for will investors Jeff, We be it. user meaningful to answering with growth, progress we our business about next look and when question Mr. continue our updates. for share think And opportunities our have I the

Jeff Xu

Thank you, for your Kaifang, questions.

So I'll be the taking second question.

As Yang our strategy. the have in user Mr. mentioned positioning we remarks section, adjusted

As a that in saw result, to we Q-on-Q. QX our marketing able sales were expenses we and reduce

growth challenging the We year, are on delivering which environment. is focused of improvement increase are the growth base still Pace robust focus and an is our our reached on delivering top macro under in sales line, the growth user ROI consistent delivering our with growth of amid quality of expansion. This our all-time user our improving high. strategy This well control. marketing and in we quality demonstrates and goal

same As too. potential mentioned time, region, here we in Gulf users at seize will last expand gain Pan-Arab quarter, efficiency we in to continue the penetrate and opportunities, users our countries to the marketing investment

XXXX group terms will We that base Thank of growth. Q-on-Q in expect deliver you. in the user single-digit growth

Kaifang Jia

you. That’s helpful. very Thank

Operator

comes with go Haitong Please question International. Our Yulin Zhong next from ahead.

Yulin Zhong

thanks one Hello products. is my regarding two I questions. for Thanks. question. management and your new Number taking have Actually,

mentioned just the YallaChat. some You about kind

the And That's to contributions financial the new your first on achievements give questions. us and two this question on growth you we quality or expect company year? one, the initiatives? adopting addition the now new from is In just strategy, could Number initiatives then how those the of YallaChat, level. high a progress should as update

times impact macro and And several about you specifically? on how elaborate bit as Thank a mentioned your impact. you. business You could front context the this the the geopolitical inflation little

Tao Yang

for Thanks the Yulin. you, Thank question.

of progress quickly question newly-launched first products. the For

our on We are progress making actually product. good new

we on and We better hot local our of will organization, mobile first introduce the co working are version game.

of As seen a earnings some recently features. social in for iteration you business launched WAHA. more social with new screenshots the XD And activity. our metaverse can interactive product, in our We find

will an plant work unique fulfill the YallaChat. a also regarding more on continue needs be mentioned users' a launched is system, we logging into new We our important earlier, and be as adding to iteration user featured And will development products, YallaChat. to localization IM it I MENA of

they're game on their all user as building Regarding focusing space. our current casual in as that are as online well apps, they communities base

continues work to and on to this team feedback user iterations Our receive refine product.

you any the for geopolitical the East update the quarter. is also about player by situation, in environment. macro let know Middle with global question next will the economy, We as the situation, economy the macro-economic the second impacted And the global

However, so have geopolitical significant times. least recent and seen effect. prices -- we for far, major haven't to are rising beginning At impact not news negative any conflicts COVID-XX's fade, no we in in been us. there MENA, oil are bad

of region. may changing be drastically. easy X, the are So as as it a macro whole, the look And as valuations we not in there capital is MENA environment world, years. were raising also positive the on rest for if the stock X the at the But earlier, is tension. past And we mentioned

many becomes for a important. So Cash companies, be more problem. may and that more

healthy, position when cash making need challenging as have our regarding and flow For spending and better we cautious environment the our investment. to more be but Yalla, a still, strong changing, we amid decisions is

informed competition, We the no and any beyond go if it keep doubt, there across everyone And as are will markets. borders for companies development. the explore is new need world. intensifying their Many to

and moment, come. trend And exactly in years. localization. new. we existed At are are the and coming our product This why promoting they many this anything don't is see metrics also may It they East, to is we not impact it Middle us expanding that So have for has the regard.

make Middle full We East use to of will in experience leverage advantages. localization our our our and the capabilities

Operator

with Please ahead. go Our next Nomura. Thomas question comes from Shen

Thomas Shen

have I question. my taking for management thanks Hi, questions. two

share marketing forward? half company's The company's year? quarter going revenue games first the the the the the And promotional what second and for also, strategy business is of one is growth and could this in management second outlook

Karen Hu

take this I'll Thomas. question. -- you, the Thank first

which game times as increased generated said were In generated game after million revenues the our our from XXXX, QX first our more the $X.X products. the about services in from the game quarter million. are we our you revenue, third the So two generated of by services than the game when coming revenues contributed different revenue from X business, time, our years, year. revenues And this from $XX for services the to reported

think our of soon casual we gaming we generated continue too. of future. games, grow Different were game and distribution revenues near steadily all our will in different business, to have from pieces we revenue Moreover, products development. will So gaming have that the hardcore by

our about too referring to Also, a will distribution hardcore talk affects changes hardcore game time to R&D you line QX. resurgence some pandemic the the our to for our first game early our business, probably revenue China outlook team. the and time the exploring is business. monetization little bring This are in So if for distribution it's

So will honest, see are the QX. we to you. next in uncertainties, be question revenue Thank And by be some may but there answered Jeff.

Jeff Xu

this Karen. Jeff. second Thomas, will take the Yes. you, And question. I is Thank

Our dynamic. of sales of the marketing on and product product It very development. that is depends really face strategy the type and

continue efficiency. our the based to years our improve on acquisition For flagship over we experience five strategy applications, past to adjust user

Thomas. different question. your new products depends some Hope we the approaches. really our of on may basis. and answered It products, characteristics user the new Thank of you, For try some we

Thomas Shen

you. Thank

Operator

to there no over management like to now back the call questions, As remarks. closing further are turn for I'd

Kerry Gao

We Thank today. you you with once again for in us the next joining speaking forward quarter. to look

on questions, Group website our contact to please Investor or The Relations feel through If information free you contact provided Investor Yalla's the have Relations. further Piacente

Operator

call. This concludes conference the

disconnect You now lines. Thank your you. may

Yalla Group Limited (YALA) 17 May 222022 Q1 Earnings call transcript