Momo Announces Unaudited Financial Results For The Third Quarter 2016

BEIJING, Nov. 08, 2016 (GLOBE NEWSWIRE) -- Momo Inc. (NASDAQ:MOMO) ("Momo" or the "Company"), a leading mobile social networking platform in China, today announced its unaudited financial results for the third quarter 2016.

Third Quarter 2016 Highlights
  • Net revenues increased 319% year over year to $157.0 million.
  • Net income attributable to Momo Inc. increased to $39.0 million in the third quarter 2016 from a net loss of $0.8 million in the same period last year.
  • Non-GAAP net income attributable to Momo Inc. (note 1) increased 1,182% to $49.5 million in the third quarter 2016 from $3.9 million in the same period last year.
  • Diluted net income per American Depositary Share ("ADS") was $0.19, compared to a diluted net loss per ADS of $0.00 in the same period last year.
  • Non-GAAP diluted net income per ADS (note 1) was $0.24, compared to $0.02 in the same period last year.
  • Monthly Active Users ("MAU") 1 were 77.4 million in September 2016, compared to 73.0 million in September 2015.

First Nine Months 2016 Highlights
  • Net revenues increased 225% year over year to $307.0 million for the first nine months of 2016.
  • Net income attributable to Momo Inc. was $61.5 million for the first nine months of 2016, compared with $7.6 million during the same period of 2015.
  • Non-GAAP net income attributable to Momo Inc. (note 1) was $85.4 million for the first nine months of 2016, compared with $19.3 million during the same period of 2015.
  • Diluted net income per ADS was $0.30 for the first nine months of 2016, compared with $0.04 during the same period of 2015.
  • Non-GAAP diluted income per ADS (note 1) was $0.42 for the first nine months of 2016, compared with $0.10 during the same period of 2015.

"Q3 2016 was a remarkable quarter for us, with achievements on product innovations, business operations as well as financial results." Commented Yan Tang, Chairman and CEO of Momo. "Live broadcasting business continued to gain traction and boosted the acceleration in revenue and profit growth. At the same time we are making good progress with our strategy to drive the convergence of video and social activities on our platform. We launched "Moments", an interactive short video service in August. We are happy to see that an increasing number of users on our platform are realizing that video, as compared to text and graphic based content, delivers a more compelling and immersive social and entertainment experience. By deeply integrating video elements into every major social scenarios on Momo and providing more entertaining content to our users, we could substantially broaden the core use cases on Momo and raise the ceilings of our total addressable audience."

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