Yalla Group Ltd financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Yalla Group Ltd files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	42.4	63.5	135	273	304	319	340	342
Cost of revenue	13.8	20.6	61.3	95.1	114	115	120	112
Gross profit	28.5	42.9	73.7	178	190	204	219	230
Research and development	0.85	1.6	5.22	14.3	24.6	25.8	29	34.3
Selling and marketing	5.69	8.25	21.7	42.4	49.9	45.4	31.3	34.6
General and administrative	1.63	4.12	43	38.3	36.6	36.8	37.4	39
Operating income	20.4	28.9	3.76	83	78.7	96.4	121	122
Interest income	0.14	0.39	0.2	0.11	3.3	19.8	28.7	25.7
Pre-tax income	20.5	29.4	4.07	84.6	81.6	116	148	152
Income tax	0.26	0.44	0.86	2.02	2.6	2.69	13.9	3.98
Net income to minority interests				-0.01
Net income	20.2	28.9	3.21	82.6	79	113	134	148
EBITDA	20.4	29.1	4.02	83.9	79.8	98.1	122	124
EPS, basic	-0.12	0.22	-0.02	0.56	0.52	0.74	0.85	0.96
EPS, diluted	-0.12	0.22	-0.02	0.46	0.45	0.65	0.74	0.83
Shares, basic (weighted)	73.4	73.4	91.8	149	154	159	160	156
Shares, diluted (weighted)	73.4	73.4	91.8	180	177	182	183	180

Balance sheet

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	17	45.3	237	351	407	312	488	527
Short-term investments		1.51	0.77	2.91	25.8	10.3	70.9	141
Other current assets		1.15	1.49	4.64	3.46	4.33	3.51	4.34
Total current assets		53.5	253	376	482	569	692	796
Property, plant and equipment		0.45	1.24	1.83	2.12	1.58	14	15
Lease right-of-use assets				0.86	1.95	2.38	1.37	1.9
Long-term investments				1.77	3.83	51.7	93.7	82.1
Other non-current assets		0.2			15.4	13	0	0.25
Total assets		54.1	255	381	506	639	802	896
Accounts payable		0.72	1.57	4.39	5.38	0.93	0.96	1.07
Accrued liabilities		1.58	6.15	14.9	22.8	25.8	32.4	30.4
Deferred revenue		6.01	13.4	25	36	46.6	58.1	55.2
Total current liabilities		8.31	21.1	44.7	65	75.3	102	88.3
Lease liabilities				0.2	0.74	0.95	0.01	1.1
Total liabilities		8.31	21.1	44.9	66.5	76.3	104	94.2
Paid-in capital			221	266	294	313	329	339
Retained earnings		19.9	12.5	95.1	175	292	428	515
Treasury stock				-25.4	-27	-35.5	-49.4	-42.5
Other comprehensive income		0.01	0.37	0.52	-1.7	-2.34	-3.02	-1.64
Shareholders' equity	-7.12	19.9	234	336	441	568	704	810
Minority interests				-0.01	-0.72	-5.01	-6.54	-8.23
Total equity	-7.12	19.9	234	336	440	563	698	802
Total liabilities and equity		54.1	255	381	506	639	802	896
Shares outstanding		73.4

Cash flow statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	20.2	28.9	3.21	82.6	79	113	134	148
Depreciation and amortization	0.03	0.17	0.26	0.85	1.1	1.75	1.08	1.54
Stock-based compensation			60.8	43.9	26.7	17.9	14.7	10.3
Deferred income tax							2.15	0.78
Change in payables	0.32	0.29	0.85	2.82	0.99	-4.45	0.03	0.11
Cash from operations	23.4	31.3	64.8	144	120	139	173	138
Capital expenditures	-0.2	-0.43	-1.03	-1.49	-1.57	-1.28	-0.71	-1.98
Purchases of investments	-2.01	-5.94	-3.66	-1.77	-2.98	-50.1	-93.5	-13.7
Cash from investing	-1.91	-2.83	2.48	-5.36	-62.6	-226	18.6	-45.1
Stock issued				1.09	1.97	0.95	1.09	1.1
Share buybacks				-25.4	-1.59	-8.51	-13.9	-56.6
Dividends paid			-9.01
Cash from financing	-6.37	-0.2	124	-24.6	0.37	-7.55	-12.8	-55.5
Exchange rate effect	0.01	0.04	0.54
Net change in cash	15.1	28.3	192	115	55.8	-94.9	178	38.2
Free cash flow	23.2	30.9	63.8	143	118	138	172	136
Income taxes paid	0	0.03	0.85	1.76	2.35	2.73	3.57	11

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $5.48 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	67.3%	Gross profit / revenue.
Operating margin	35.7%	Operating income / revenue.
EBITDA margin	36.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	44.5%	Pre-tax income / revenue.
Net margin	43.3%	Net income / revenue.
FCF margin	39.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	40.2%	Cash from operations / revenue.
Effective tax rate	2.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	19.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	17.5%	Net income / average total assets.
Return on invested capital (ROIC)	47.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	10.0%	Research and development expense / revenue.
Stock-based pay / revenue	3.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.6%	Capital expenditures / revenue.
D&A / revenue	0.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	0.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	20.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	4.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	6.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	25.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	0.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	15.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	100.6%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	1.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	15.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	98.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	10.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	23.3%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	115.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	12.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	22.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-20.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	4.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	16.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-21.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	4.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	16.3%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	15.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	22.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	28.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	11.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	21.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	28.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	14.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	9.02x	Current assets / current liabilities.
Quick ratio	7.57x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	7.57x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	10.5%	Total liabilities / total assets.
Working capital	$708.0M	Current assets - current liabilities.
Tangible book value	$810.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.40x	Revenue / average total assets.
Fixed asset turnover	23.6x	Revenue / average property, plant and equipment.
Days payables	3 days	365 x average accounts payable / cost of revenue.
FCF conversion	91.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	1.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.83	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$0.96	Net income per basic share, as reported (split-adjusted).
Revenue per share	$1.90	Revenue / diluted weighted shares.
FCF per share	$0.75	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.76	Cash from operations / diluted weighted shares.
Book value per share	$4.50	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$4.50	Tangible book value / shares outstanding.
Cash per share	$3.71	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	41.7%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$832.0M	Share price x shares outstanding.
Enterprise value	$163.8M	Market cap + total debt - cash - short-term investments.
P/E	5.62x	Market cap / net income. Only when net income is positive.
P/S	2.43x	Market cap / revenue.
P/B	1.03x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.03x	Market cap / tangible book value, when positive.
P/FCF	6.14x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.05x	Market cap / cash from operations, when positive.
EV/Sales	0.48x	Enterprise value / revenue.
EV/EBIT	1.34x	Enterprise value / operating income, when both are positive.
EV/EBITDA	1.32x	Enterprise value / EBITDA, when both are positive.
EV/FCF	1.21x	Enterprise value / free cash flow, when both are positive.
FCF yield	16.3%	Free cash flow / market cap.
Earnings yield	17.8%	Net income / market cap (the inverse of P/E).
Shareholder yield	6.8%	(Dividends paid + share buybacks) / market cap.
PEG	0.25x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Yalla Group Ltd's revenue in fiscal 2025?

Yalla Group Ltd reported revenue of $341.9M for fiscal 2025, 0.7% higher than the year before.

Was Yalla Group Ltd profitable in fiscal 2025?

Yes. Net income was $148.1M, a net margin of 43.3%.

How much free cash flow did Yalla Group Ltd generate in fiscal 2025?

Cash from operations of $137.5M minus capital expenditures of $2.0M left free cash flow of $135.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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