Momo, a popular mobile social dating app in China now listed on NASDAQ, announced its unaudited financial results; and, its net revenues increased over 13 times year-on-year to $44.8 million in 2014.
Total net revenues were $18.6 million in Q4 2014, an increase of 702.3% from $2.3 million during the same quarter of 2013. Momo’s MAU grew by 106% year-over-year to 69.3 million in Q4 2014. Momo introduced games on their platform, started cooperation with 58.com and Alibaba, and recently launched their “gifting” service that enables users to send gifts to other users.
Momo Fourth Quarter 2014 Highlights
In December 2014, Momo began cooperating with 58.com to provide Momo users with easy access to 58.com’s marketplaces through the Discover function on the Company’s platform from which the Company expects to generate marketing revenues.
In January 2015, Momo began cooperating with Alibaba to place its merchant’s targeted advertisements on the Momo’s Nearby People function through which the Company will share marketing revenues with Alibaba.
In January 2015, Momo launched gift store services that allow users to send gifts to each other. The Company cooperated with merchants on Alibaba’s marketplaces to deliver gifts through which it will share revenues with Alibaba.
- Net revenues were $18.6 million in the fourth quarter of 2014, a substantial increase of 702.3% from the same period last year.
- Net loss attributable to Momo Inc. was $2.5 million in the fourth quarter of 2014, compared to a net loss of $3.1 million in the fourth quarter of 2013.
- Non-GAAP net loss attributable to Momo Inc. (note 1) was $0.1 million in the fourth quarter of 2014, compared to a non-GAAP net loss of $2.6 million in the fourth quarter of 2013.
- Diluted loss per American Depositary Share (“ADS”) was $0.20 in the fourth quarter of 2014, compared to a diluted loss per ADS of $0.14 in the fourth quarter of 2013. Each ADS represents two Class A ordinary shares.
- Non-GAAP diluted loss per ADS (note 1) was $0.16 in the fourth quarter of 2014, compared to a non-GAAP diluted loss per ADS of $0.12 in the fourth quarter of 2013.
- Monthly Active Users (“MAU”)1 increased by 105.6% to 69.3 million in December 2014 from December 2013.
- Total number of employees was 456 as of December 31, 2014, compared to 209 as of December 31, 2013.
| Net revenues | ||||||
| 2013Q4 | % | 2014Q4 | % | Growth | % | |
| Net revenues | (in US$ thousands, except percentages) | |||||
| Membership subscription | 2,049 | 88.6% | 11,903 | 64.2% | 9,854 | 480.9% |
| Mobile games | 92 | 4.0% | 4,346 | 23.4% | 4,254 | 4623.9% |
| Other services | 171 | 7.4% | 2,301 | 12.4% | 2,130 | 1245.6% |
| Total net revenues | 2,312 | 100.0% | 18,550 | 100.0% | 16,238 | 702.3% |
Full Year 2014 Highlights
Net revenues for the full year 2014 were $44.8 million, an increase of 1,330.3% from $3.1 million in 2013, primarily driven by the significant increase in net revenues from membership subscription and mobile games.
- Net revenues increased over 13 times year-on-year to $44.8 million in 2014.
- Net loss attributable to Momo Inc. was $25.4 million in 2014.
- Non-GAAP net loss attributable to Momo Inc. (note 1) was $18.8 million in 2014.
- Diluted loss per ADS was $1.94 for the full year 2014.
- Non-GAAP diluted loss per ADS (note 1) was $1.80 for the full year 2014.
Also read: China’s Mobile Social App Momo Launched Ad Platform for Offline Retailers
Read more: https://www.chinainternetwatch.com/?s=momo#ixzz3TZu9e7p3