Mobvista Inc. (MOBVISTA) reported solid first-half 2026 results, driven by continued expansion of its programmatic advertising platform, Mintegral.

Financial Highlights (H1 2026 vs. H1 2025) • Revenue increased 23.20% to US$1.16 billion. • Net revenue (revenue less traffic acquisition costs) rose 21.51% to US$308.46 million. • Gross profit improved 23.33% to US$247.90 million; gross margin was broadly stable at 21.5%. • Profit for the period jumped 44.80% to US$46.73 million. • Adjusted net profit climbed 39.50% to US$52.11 million. • Adjusted EBITDA advanced 9.40% to US$96.46 million, representing 8.3% of total revenue.

Segment Performance • Ad-tech revenue (99.2% of total) grew 23.40% to US$1.15 billion; net Ad-tech revenue reached US$299.49 million. – Programmatic advertising (Mintegral) contributed US$1.12 billion, up 24.30%, accounting for 97.3% of Ad-tech sales. – Non-programmatic advertising declined 3.00% to US$31.32 million. • Mar-tech revenue inched up 2.00% to US$8.97 million.

Mintegral Detail • Gaming clients generated US$843.22 million, a 27.50% increase and 75.6% of Mintegral revenue. • Non-gaming verticals added US$272.03 million, up 15.50%. • Smart bidding products represented more than 90% of Mintegral’s turnover.

Regional Mix (Ad-tech) • Singapore delivered US$123.55 million (+25.30%), 10.8% of Ad-tech revenue. • Asia-Pacific ex-Singapore contributed US$497.73 million (+14.90%), 43.4% share. • Other regions, led by EMEA and the Americas, generated US$525.29 million (+32.20%), 45.8% share.

Cost and Expenses • Cost of sales grew 23.20% to US$907.65 million. • Selling & marketing expenses rose 23.70% to US$43.42 million, reflecting higher bidding fees. • Expensed R&D outlays surged 44.70% to US$126.31 million as the company scaled its AI-driven smart-bidding infrastructure; total R&D investment reached US$165.20 million. • General & administrative costs increased 13.90% to US$40.31 million, including US$10.40 million of share-based compensation.

Balance Sheet & Cash Flow • Net cash from operating activities was US$99.55 million, up 18.70% year on year. • Cash and cash equivalents stood at US$193.44 million at 30 June 2026, compared with US$124.14 million at year-end 2025. • Gearing ratio (total liabilities/total assets) improved to 53.8% from 66.5%.

Capital & Shareholder Matters • On 2 June 2026, Mobvista issued 47.46 million shares upon conversion of US$33.92 million convertible bonds, adding US$90.35 million to equity. • The company granted 62.97 million restricted share units to its Chairman & CEO under the amended Employee RSU Scheme; total unvested RSUs from new-issue shares reached the plan limit of 162.16 million. • No interim dividend was declared for H1 2026.

Strategic Initiatives Mobvista continues to invest in artificial intelligence, expanding Mintegral’s smart bidding capabilities across IAA, IAP and hybrid monetisation models. The Group is also enhancing its Mar-tech portfolio and pursuing global SMB developer growth.

Outlook Management positions Mintegral as the core growth engine while maintaining investment discipline in Mar-tech tools. Ongoing AI infrastructure upgrades and geographic expansion, particularly in EMEA and the Americas, underpin the company’s medium-term growth strategy.