Momo Inc. (NASDAQ:MOMO)

WEB NEWS

Thursday, March 19, 2020

Comments & Business Outlook

Fourth Quarter 2019 Financial Results

  • Total net revenues were RMB4,687.9 million (US$673.4 million) in the fourth quarter of 2019, an increase of 22% from RMB3,843.9 million in the fourth quarter of 2018.
  • Non-GAAP diluted net income per ADS (note 1) was RMB5.61 (US$0.81) in the fourth quarter of 2019, compared to RMB4.05 in the fourth quarter of 2018.

"2019 was a fruitful year, with total net revenue up by 27%, net income up by 6% and Non-GAAP net income up by 30%. The strong financial performance is a testament of the competence of our team," commented Yan Tang, Chairman and CEO of Momo. "Looking into the year 2020, we are going to continue to focus on enhancing user experience and drive product innovations in order to capture the many growth opportunities ahead of us."

Business Outlook

For the first quarter of 2020, the Company expects total net revenues to be between RMB3.45 billion to RMB3.55 billion, representing a decrease of 7.3% to 4.6% year over year. This forecast considers the potential impact of the COVID-19 outbreak and reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change, particularly as to the potential impact of the COVID-19 on the economy in China.



Tuesday, May 28, 2019

Comments & Business Outlook

First Quarter 2019 Financial Results

  • Net revenues increased 35% year over year to RMB3,722.9 million (US$554.7 million*) in the first quarter of 2019..
  • Non-GAAP diluted net income per ADS (note 1) was RMB4.15 (US$0.62) in the first quarter of 2019, compared to RMB4.36 in the same period of 2018.

"Q1 was a solid quarter and a good start to the year 2019," commented Yan Tang, Chairman and CEO of Momo. "We have started to implement the strategies that we laid out at the beginning of the year. Some of the initiatives we took on the product and operational fronts have already generated good results in driving business growth. We will continue to execute against the strategic priorities and create value for our shareholders."

Business Outlook

For the second quarter of 2019, the Company expects total net revenues to be between RMB4.0 billion to RMB4.1 billion, representing an increase of 27% to 30% year over year. These estimates reflect the Company's current and preliminary view, which is subject to change.


Friday, May 10, 2019

Comments & Business Outlook
BEIJING, May 10, 2019 /PRNewswire/ -- Momo Inc. (MOMO) ("Momo" or the "Company"), a leading mobile social networking platform in China, today announced that pursuant to directives of relevant government authority, during the one-month period starting from May 11, 2019, Momo will undertake certain internal measures aimed at strengthening its content screening efforts. Chief among efforts in connection with Momo's self-inspection, the Company will temporarily suspend the ability of users to post social newsfeeds on its platform between May 11, 2019 and June 11, 2019. Currently, the Company is evaluating the impact of the temporary suspension and other self-inspection measures on its overall business operations during that one-month period.

Monday, April 29, 2019

Comments & Business Outlook

BEIJING, April 29, 2019 /PRNewswire/ -- Momo Inc. (Nasdaq: MOMO) ("Momo" or the "Company"), a leading mobile social networking platform in China, today announced that it has become aware that certain mobile app stores in China have removed the Tantan mobile app on direction of governmental authorities in China.

The Company is proactively communicating with the relevant government authorities and intends to fully cooperate with such authorities in order to restore the availability of the Tantan mobile app in the subject mobile app stores as soon as possible. The Company also plans to conduct a comprehensive internal review of the content in the Tantan mobile app and undertake other measures necessary to stay in full compliance with all relevant laws and regulations. Pending restoration of the Tantan app in the relevant app stores in China, the Company's ability to attract new Tantan users will be adversely affected, while existing Tantan users may continue to use the app.


Wednesday, April 24, 2019

Comments & Business Outlook

SHANGHAI, April 24, 2019 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (JKS), a reputable solar module manufacturer in the world, today announced that it has supplied 100MW of high efficient solar modules for the Srepok 1 and Quang Minh Solar Power Plant Complex, one of the Vietnam's largest solar power projects up to today.

The project is located in Buon Don district in the Central Highlands province of Dak Lak. Construction began in October 2018 with commercial operations beginning in January 2019. A total of VNĐ2.2 trillion (US$95 million) was invested in the project by Dai Hai Investment. The project is expected to reduce the need to import approximately 90,000 tons of coal into Vietnam annually and reduce CO2 emissions by 72,000 tons.

Speaking at the inauguration of the project, Deputy Prime Minister Truong Hoa Binh said that Dak Lak had an important strategic position in terms of economic development and security and defense in the region. Deputy Prime Minister Binh commented, "Renewable energy has become a global trend and Vietnam in general, and Dak Lak in particular, have a lot of potential for solar energy development. This complex will play an important role in our efforts to further the province's socio-economic development while ensuring national energy security."

JinkoSolar was selected as the exclusive supplier for the project due to its strong global track record and high-efficiency panels which are ideally suited for Vietnam's hot and humid climate. Mr. Gener Miao, Chief Marketing Officer of JinkoSolar, commented, "We are excited to collaborate with Dai Hai Investment to develop and promote solar energy in Vietnam. As one of the largest solar plants in this country, this project demonstrates JinkoSoalr's commitment to manufacturing reliable PV modules which form the foundation of this 25-year solar project investment. Quality is critical to large projects like this."


Tuesday, March 12, 2019

Comments & Business Outlook

Fourth Quarter 2018 Financial Results

  • Net revenues increased 50% year over year to RMB3,843.9 million (US$559.1 million) in the fourth quarter of 2018.
  • Non-GAAP diluted net income per ADS (note 1) was RMB4.05 (US$0.59), compared to RMB3.49 in the same period of 2017.

"Q4 was a solid quarter, closing out a fruitful year of 2018," commented Yan Tang, Chairman and CEO of Momo. "I am pleased with the progress we made in 2018 in product innovation, monetization, financial performance and the strengthening of the Company's position as a leading player in China's open social space. We look forward to delivering more results to our shareholders in 2019."

Business Outlook

For the first quarter of 2019, the Company expects total net revenues to be between RMB3.55 billion to RMB3.65 billion, representing an increase of 28% to 32% year over year, on a constant currency basis. The Company is not providing the business outlook in USD terms due to the recent volatility and uncertainty in foreign exchange rate. These estimates reflect the Company's current and preliminary view, which is subject to change.


Thursday, December 6, 2018

Comments & Business Outlook

Third Quarter of 2018 Financial Results

  • Total net revenues were $536.0 million in the third quarter of 2018, an increase of 51% from $354.5 million in the third quarter of 2017.
  • Non-GAAP diluted net income per ADS (note 1) was $0.53 in the third quarter of 2018, compared to $0.45 in the third quarter of 2017.

"I am pleased that we delivered solid operational and financial results for the quarter." Commented Yan Tang, Chairman and CEO of Momo. "At the same time we continued to push forward on product and operational fronts, in order to build up longer term growth drivers as we start to look beyond 2018 into next year."

Business Outlook

For the fourth quarter of 2018, the Company expects total net revenues to be between RMB3,655.0 million to RMB3,755.0 million, representing an increase of 43% to 47% year over year and an increase of 0% to 3% quarter over quarter, on a constant currency basis. Excluding the revenues from Phanta City, the Company expects the total revenues for the fourth quarter of 2018 to be between RMB3,624.0 million to RMB3,724.0 million, representing an increase of 42% to 46% year over year and an increase of 4% to 7% quarter over quarter, on a constant currency basis. The Company is not providing the business outlook in USD terms due to the recent volatility and uncertainty in foreign exchange rate. These estimates reflect the Company's current and preliminary view, which is subject to change.


Wednesday, August 22, 2018

Comments & Business Outlook

Second Quarter of 2018 Financial Results 

  • Net revenues increased 58% year over year to $494.3 million.
  • Non-GAAP diluted net income per ADS (note 1) was $0.66, compared to $0.35 in the same period last year.

"I am glad that we delivered another solid quarter. Our community continued to grow with healthy engagement trends, thanks to our consistent endeavors to drive product innovation and content enrichment." Commented Yan Tang, Chairman and CEO of Momo. "Our live streaming business continued to grow robustly.  In addition, value-added service revenues for the Momo app more than doubled from a year ago, demonstrating Momo's monetization potential as a social platform. Tantan officially joined our family in the second quarter of 2018 and started to contribute to our social ecosystem and topline growth. Together we will be pushing forward our strategic priorities and solidifying our leadership in China's open social territory"

Business Outlook

For the third quarter of 2018, the Company expects total net revenues to be between $525.0 million and $540.0 million, representing a year-over-year increase of 51% to 55% and a quarter-over-quarter increase of 13% to 17% on a constant currency basis. This forecast reflects the currency translation risks and assumes an average exchange rate of RMB 6.8055 to US$1.00. These estimates reflect the Company's current and preliminary view, which is subject to change.


Tuesday, July 3, 2018

Comments & Business Outlook

BEIJING, July 2, 2018 /PRNewswire/ -- Momo Inc. ("Momo" or the "Company") (MOMO), a leading mobile social networking platform in China, today announced the completion of its offering of US$650 million in aggregate principal amount of convertible senior notes due 2025 (the "Notes")  (the "Offering").  The Company has granted the initial purchasers in the Offering a 30-day option to purchase up to an additional US$100 million principal amount of the Notes. The Notes will be convertible into Momo's American depositary shares ("ADSs"), at the option of the holders, based on an initial conversion rate of 15.4776 of the Company's ADSs per US$1,000 principal amount of Notes (which is equivalent to an initial conversion price of approximately US$64.61 per ADS and represents an approximately 42.5% conversion premium over the closing trading price of the Company's ADSs on June 26, 2018, which was US$45.34 per ADS). The conversion rate for the Notes is subject to adjustment upon the occurrence of certain events.

Holders of the Notes may convert their notes, in integral multiples of US$1,000 principal amount, at any time prior to the close of business on the second business day immediately preceding the maturity date. Momo will not have the right to redeem the Notes prior to maturity, except in the event of certain changes to the tax laws or their application or interpretation. Holders of the Notes will have the right to require the Company to repurchase all or part of their Notes in cash on July 1, 2023, or in the event of certain fundamental changes.

The Notes will bear interest at a rate of 1.25% per year, payable semiannually in arrears on January 1 and July 1 of each year, beginning on January 1, 2019. The Notes will mature on July 1, 2025, unless previously repurchased, redeemed or converted in accordance with their terms prior to such date.

The Company plans to use the net proceeds of the Offering to (i) repay the US$300 million bank loan facility it entered into in May 2018 to partially finance its acquisition of Tantan Limited ("Tantan"), (ii) pay the outstanding consideration for the Tantan acquisition, as well as to invest in Tantan's business development initiatives and (iii) invest in various business development initiatives for the Momo platform, including the purchase of intellectual property for Momo's live video and mobile games services. The remaining net proceeds of the Offering will be used to support the Company's ongoing working capital needs.

The Notes, the ADSs deliverable upon conversion of the Notes and the Class A ordinary shares represented thereby have not been registered under the Securities Act of 1933 (the "Securities Act"), or any state securities laws. They may not be offered or sold within the United States or to U.S. persons, except to qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and/or to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act. 

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any of these securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.


Thursday, June 28, 2018

Comments & Business Outlook

BEIJING, June 28, 2018 /PRNewswire/ -- Momo Inc. ("Momo" or the "Company") (MOMO), a leading mobile social networking platform in China, today has issued the following statement in response to allegations made in a report by Spruce Point Capital Management, LLC.

The Company has been made aware of and carefully reviewed the short seller report published by Spruce Point Capital Management LLC, on June 27, 2018. Based upon this review and evaluation, the Company believes that the report contains numerous errors, unsubstantiated statements and misleading conclusions and interpretations regarding events relating to the Company.

The Company notes that it remains committed to maintaining high standards of corporate governance, as well as transparent and timely disclosure in compliance with the applicable rules and regulations of the United States Securities and Exchange Commission and the NASDAQ Global Select Market.


Wednesday, June 27, 2018

Deal Flow

BEIJING, June 27, 2018 /PRNewswire/ -- Momo Inc. ("Momo" or the "Company") (MOMO), a leading mobile social networking platform in China, today announced the pricing of US$650 million in aggregate principal amount of convertible senior notes due 2025 (the "Notes") (the "Offering"). The Company has granted the initial purchasers in the Offering a 30-day option to purchase up to an additional US$100 million principal amount of the Notes. The Notes will be convertible into Momo's American depositary shares ("ADSs"), at the option of the holders, based on an initial conversion rate of 15.4776 of the Company's ADSs per US$1,000 principal amount of Notes (which is equivalent to an initial conversion price of approximately US$64.61 per ADS and represents an approximately 42.5% conversion premium over the closing trading price of the Company's ADSs on June 26, 2018, which was US$45.34 per ADS). The conversion rate for the Notes is subject to adjustment upon the occurrence of certain events. Holders of the Notes may convert their notes, in integral multiples of US$1,000 principal amount, at any time prior to the close of business on the second business day immediately preceding the maturity date. Momo will not have the right to redeem the Notes prior to maturity, except in the event of certain changes to the tax laws or their application or interpretation. Holders of the Notes will have the right to require the Company to repurchase all or part of their Notes in cash on July 1, 2023, or in the event of certain fundamental changes.

The Notes will bear interest at a rate of 1.25% per year, payable semiannually in arrears on January 1 and July 1 of each year, beginning on January 1, 2019. The Notes will mature on July 1, 2025, unless previously repurchased, redeemed or converted in accordance with their terms prior to such date.

The Company plans to use the net proceeds of the Offering to (i) repay the US$300 million bank loan facility it entered into in May 2018 to partially finance its acquisition of Tantan Limited ("Tantan"), (ii) pay the outstanding consideration for the Tantan acquisition, as well as to invest in Tantan's business development initiatives and (iii) invest in various business development initiatives for the Momo platform, including the purchase of intellectual property for Momo's live video and mobile games services. The remaining net proceeds of the Offering will be used to support the Company's ongoing working capital needs.

The Offering is expected to close on July 2, 2018, subject to the satisfaction of customary closing conditions.

The Notes, the ADSs deliverable upon conversion of the Notes and the Class A ordinary shares represented thereby have not been registered under the Securities Act of 1933 (the "Securities Act"), or any state securities laws. They may not be offered or sold within the United States or to U.S. persons, except to qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and/or to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act. 

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any of these securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

This press release contains information about the pending Offering of the Notes, and there can be no assurance that the Offering will be completed.


Tuesday, May 29, 2018

Comments & Business Outlook

 First Quarter 2018 Financial Results

  • Net revenues increased 64% year over year to $435.1 million.
  • Non-GAAP diluted net income per ADS (note 1) was $0.69, compared to $0.44 in the same period last year.

"We had another strong quarter and a great start to the year 2018. I am glad to see that we have achieved outstanding results on all strategical priorities we outlined at the beginning of the year. Our community continued to grow in size and engagements despite the negative seasonality, thanks to the product and marketing initiatives we have been taking in recent quarters. The content ecosystem continues to improve, driving robust organic growth momentum for live streaming business. Strong topline performance, coupled with the operating leverage of our business model creates ample room for us to make significant investment for our future while maintaining a healthy profit margin. " Commented Yan Tang, Chairman and CEO of Momo. "We closed the acquisition of Tantan in May and together will be moving forward as a dominant player in China's open social territory. Tantan has made remarkable progresses in user growth and monetization since the beginning of 2018. We believe Tantan has a great deal of potential to be unlocked and will be adding tremendous value to our ecosystem in the future."

For the second quarter of 2018, the Company expects total net revenues to be between $470.0 million and $485.0 million, representing a year-over-year increase of 51% to 55%. Our revenue guidance includes around $4.5 million revenue from Tantan for the month of June 2018 which we expect to consolidate in our financial statement of the second quarter of 2018. These estimates reflect the Company's current and preliminary view, which is subject to change.


Monday, May 14, 2018

Acquisition Activity
BEIJING, May 12, 2018 /PRNewswire/ -- Momo Inc. (Nasdaq: MOMO) ("Momo" or the "Company") today announced that it successfully closed the transaction with regard to its acquisition of 100% equity stake of Tantan Limited, previously announced on February 23, 2018.

Wednesday, March 7, 2018

Comments & Business Outlook

Fourth Quarter 2017 Financial Results

  • Net revenues increased 57% year over year to $386.4 million.
  • Diluted net income per American Depositary Share ("ADS") was $0.47, compared to $0.41 in the same period last year.

"We had a good fourth quarter, capping off a remarkable year. I am happy to see the initiatives that we took in prior quarters started to bear early fruits." Commented Yan Tang, Chairman and CEO of Momo. "Net addition in MAU reaccelerated in the quarter with improving user retention and engagement. Such reacceleration shows the effectiveness of our product and content strategy as well as the improvement in the top of the funnel efficiency driven by our new marketing system. In addition, due to the initiatives that we have been taking since the fourth quarter, the content ecosystem around the live streaming service is seeing substantial development as we entered into the new year, providing a solid foundation for us to continue to drive content improvement and business growth for live streaming business going forward."

Business Outlook

For the first quarter of 2018, the Company expects total net revenues to be between $387.0 million and $402.0 million, representing a year-over-year increase of 46% to 52%. These estimates reflect the Company's current and preliminary view, which is subject to change.


Friday, February 23, 2018

Acquisition Activity

BEIJING, Feb. 23, 2018 /PRNewswire/ -- Momo Inc. (MOMO) ("Momo" or the "Company"), a leading mobile social networking platform in China, today announced that it has reached a definitive agreement with Tantan Limited ("Tantan") and all of its shareholders, pursuant to which Momo agreed to acquire 100% fully diluted equity stake in Tantan for a combination of share consideration and cash, including approximately 5.3 million newly issued Class A ordinary shares of the Company and US$600.9 million in cash. The deal is expected to close in the second quarter of 2018, subject to customary closing conditions.

Founded in 2015, Tantan is a leading social and dating app in China for the young generation. Tantan is designed to help users to find a romantic connection as well as to meet interesting people. With 5 billion matches and counting, Tantan has become a top choice for Chinese young singles to find love and relationships.

Mr. Yan Tang, Chairman and CEO of Momo said, "Our core position will continue to center on social networking and this acquisition enriches our product line in the social space. We will continue to invest and incubate more sub-brands to serve the social and entertainment needs of different demographics. Tantan has become widely recognized within a short period of three years since its inception, which is largely attributable to the outstanding performance of its talented team. We also respect Tantan's product strategy that focuses on the customer experience of female users. After the acquisition, the Tantan team will continue to operate the mobile apps under the Tantan brand with our full support."

Mr. Yu Wang, Chairman and CEO of Tantan, added, "Momo and Tantan have their own strengths in their respective markets and among targeted customers. The acquisition is a critical strategic upgrade to cover a greater range of user demographics and needs, and build up a larger social networking market through complementary businesses and strategic synergy. We are very confident in our future development."


Tuesday, November 28, 2017

Comments & Business Outlook

Financial Results Third Quarter 2017

  • Net revenues increased 126% year over year to $354.5 million.
  • Non-GAAP diluted net income per ADS (note 1) was $0.45, compared to $0.24 in the same period last year.

"We've had a good quarter with strong financial performance and progresses in other operational areas", commented Yan Tang, Chairman and CEO of Momo. "Momo 8.0 allows us to further diversify the social and entertainment offerings on the platform. We are confident that Momo will continue to drive user growth through product innovations, use case expansions as well as a more result driven marketing plan. "

Business Outlook

For the fourth quarter of 2017, the Company expects total net revenues to be between $370.0 million and $385.0 million, representing a year-over-year increase of 50% to 56%. These estimates reflect the Company's current and preliminary view, which is subject to change.


Tuesday, May 23, 2017

Comments & Business Outlook

First Quarter 2017 Financial Results

  • Net revenues increased 421% year over year to $265.2 million.
  • Diluted net income per American Depositary Share ("ADS") was $0.40, compared to $0.03 in the same period last year.

"The first quarter was a good start for the year 2017 with remarkable achievements across all of our strategic priorities," commented Yan Tang, Chairman and CEO of Momo. "Looking ahead into the future, we will continue to push forward with our strategy to drive the video transition and introduce more entertaining content to build recreational activities. We believe that will help us to further lower the barrier and increase the efficiency of open social activities, and thus allow us to appeal to a much broader base of users. We have more fun to introduce ahead and will unfold them one by one as we move down the journey."

Business Outlook

For the second quarter of 2017, the Company expects total net revenues to be between $283.0 million and $288.0 million, representing a year-over-year increase of 186% to 191%. These estimates reflect the Company's current and preliminary view, which is subject to change.


Tuesday, March 7, 2017

Comments & Business Outlook

Fourth Quarter 2016 Financial Results

  • Net revenues increased 524% year over year to $246.1 million.
  • Non-GAAP diluted net income per ADS (note 1) was $0.44, compared to $0.06 in the same period last year.

"The fourth quarter of 2016 was a mile-stone quarter for our team, capping off a great year of 2016." Commented Yan Tang, Chairman and CEO of Momo. "Our total revenues and net income continue to hit new record highs. More importantly, I am happy to see that after four consecutive quarters of steady rebound, our MAU has already exceeded its historical peak level back in early 2015. In addition to the growth in user scale, 2016 was also a year where we saw meaningful improvement in user engagement. All of these shows that by optimizing the existing social experience and introducing new social and entertainment use cases, Momo is on the right track to become a larger and stronger community for users to socialize and have fun."

Business Outlook

For the first quarter of 2017, the Company expects total net revenues to be between $238.0 million and $243.0 million, representing a year-over-year increase of 367% to 377%. These estimates reflect the Company's current and preliminary view, which is subject to change.


Tuesday, November 8, 2016

Comments & Business Outlook

Third Quarter 2016 Financial Results 

  • Net revenues increased 319% year over year to $157.0 million.
  • Non-GAAP diluted net income per ADS (note 1) was $0.24, compared to $0.02 in the same period last year.

“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.”

Business Outlook

For the fourth quarter of 2016, the Company expects total net revenues to be between $185 million and $190 million, representing a year-over-year increase of 369% to 381%. These estimates reflect the Company's current and preliminary view, which is subject to change.


Thursday, August 18, 2016

Comments & Business Outlook

BEIJING, Aug. 18, 2016 (GLOBE NEWSWIRE) -- Momo Inc. (MOMO) (“Momo” or the “Company”), a leading mobile social networking platform in China, today announced that the special committee of the Company’s board of directors received a letter from Mr. Yan Tang (“Mr. Tang”), co-founder, chairman and chief executive officer of the Company, Matrix Partners China II Hong Kong Limited (“Matrix”), Sequoia Capital China Investment Management L.P. (“Sequoia”) , Alibaba Investment Limited (“Alibaba”), Rich Moon Limited (“Yunfeng”) and Huatai Ruilian Fund Management Co., Ltd. (“Huatai Ruilian,” and together with Mr. Tang, Matrix, Sequoia, Alibaba and Yunfeng, the “Buyer Group”), stating that the Buyer Group would like to withdraw the non-binding going private proposal dated June 23, 2015, with immediate effect.

Mr. Tang, the Company’s chairman and chief executive officer,  stated that “During the privatization process, we have consistently maintained our focus on business operations and delivering growth to our investors. Driven by solid fundamental improvements, our non-GAAP diluted net income per ADS increased from US$0.03 in the second quarter of 2015 to US$0.12 in the second quarter of 2016. Our GAAP diluted net income per ADS increased from US$0.01 in the second quarter of 2015 to US$0.08 in the second quarter of 2016. With the privatization proposal from the Buyer Group behind us, we are more committed than ever to driving business growth in the interest of the Company and our shareholders.  

Our management team have a great deal of confidence in the growth prospects of the Company as well as the long term value of the Momo platform. Such confidence is firmly supported by the strong momentum in revenues and profitability that we foresee into the rest of 2016.

In the second quarter of 2016, we hit another homerun with our live video service revenues reaching US$57.9 million, more than tripling the amount in the first quarter of 2016 and just six months after we fully rolled out the service. At a strategic level, live video is much more than just a monetization opportunity for us. It is essentially an important extension of our social ecosystem. As a brand new form of interaction enabled by technological transitions, live video service is reshaping the way young people socialize and have fun via internet. New forms of content and social activities are emerging on our platform. We recently started to beta test Momo 7.0 and unveiled our short video service called Moments, enabling our users to create and interact with short video stories in a fun and immersive way. This pioneering experiment is part of our effort to expose more Momo users to the live video experience and drive more social activities around it.

Live video is diversifying the social scenarios available on Momo. Leveraging these new social scenarios, we are seeing opportunities to target a new cohort of users and expand into new territories in social and the broader entertainment industry.

We have a clear roadmap ahead and are more focused than ever on executing our strategic priorities. It is our firm conviction that these strategic focuses will allow us to further drive expansion in user scale, revenues as well as profit growth in the future.

Lastly and as always, we are committed to maximizing shareholders values. I look forward to reporting and discussing more of our achievements in the quarters ahead.”

Business Outlook
For the third quarter of 2016, the Company expects net revenues to be between US$125 million and US$130 million, representing a year-over-year increase of 234% to 247%. These estimates reflect the Company's current and preliminary view, which is subject to change.


Tuesday, August 16, 2016

Comments & Business Outlook

Second Quarter 2016 Financial Results

  • Net revenues increased 222% year over year to $99.0 million.
  • Diluted net income per American Depositary Share (�ADS�) was $0.08, compared to $0.01 in the same period last year.
  • Non-GAAP diluted net income per ADS (note 1) was $0.12, compared to $0.03 in the same period last year.

�I am pleased with the progresses we made in the second quarter 2016. Our performances reflected our strategic focus on driving user growth through product innovations as well as digging deeper into monetization opportunities.� Commented Yan Tang, Chairman and CEO of Momo.

"In the second quarter our live video business took off as a remarkable success with revenues tripped from the first quarter of 2016, reaching $57.9 million. Live video, together with mobile marketing, drove a 222% year over year growth in our total revenues, reaching $99 million for the second quarter.

What makes us more excited is that live video opens up many doors for us other than simply being a revenue engine. Enabled by technological advancement, live video service is fundamentally changing the way people interact, socialize and have fun via internet. Although we are already seeing new use cases emerging on our platform, we believe we are only at the beginning of a golden age where live video converges with social activities. We are excited about the many opportunities ahead of us and are running a few pioneering projects to delve deeper into the space. Very soon, we will be launching a new version - Momo 7.0 to further integrate live video into the social experience on Momo. I�m looking forward to its debut and hope our users enjoy the wonderful journey we are about to take them through.�


Tuesday, May 17, 2016

Comments & Business Outlook

 First Quarter 2016 Financial Results

  • Net revenues increased 93% year over year to $50.9 million.
  • Non-GAAP diluted net income per ADS (note 1) was $0.06, compared to $0.05 in the same period last year.

“2016 is off to a good start. MAUs are back on the growth track on a sequential basis, thanks to our relentless efforts on product optimization and innovations to drive better user experience. Growing the user base and engagement will continue to stay on top of our priority list. We believe Momo has a great deal of potential for further growth and we will work hard to penetrate deeper into our addressable market,” commented Yan Tang, Chairman and CEO of Momo.

"Our live broadcasting business, which was launched late last year, was progressing well in the first quarter of 2016. Off the initial success of our live broadcasting service late last year, in March 2016, we further opened up the service to allow every individual user to broadcast live anytime, anywhere with his or her mobile device or PC. In April 2016, we introduced a major update, where live broadcasting is featured as a separate tab. Concurrently with that move, we launched a standalone application called ‘Hani’ for live broadcasting business to grow more independently. At a strategic level, we have seen significant synergies between the core Momo platform and the live broadcasting service. It creates a brand new way for our users to socialize and have fun on our platform. Live broadcasting service not only makes it possible for us to push the boundaries beyond our core use cases and appeal to a new cohort of users, but also builds a gateway for us to enter into other emerging sectors such as China’s booming entertainment industry. We have various initiatives built around it and plan to carry them out step by step.

"Looking at other aspects of the quarter, mobile marketing revenue continued its strong momentum, growing more than 100% year over year. In addition to pushing hard to expand our sales coverage, we are even more focused on innovating our marketing solutions and improving our clients’ ROI. We believe these efforts on the backend would allow us to build long term competitive advantages for our mobile marketing business and elevate Momo further up the ladder as a leading mobile marketing platform in China.”


Tuesday, March 15, 2016

Comments & Business Outlook

Fourth Quarter 2015 Financial Results

  • Net revenues increased 113% year over year to $39.5 million.
  • Non-GAAP diluted net income per ADS (note 1) was $0.06, compared to a non-GAAP diluted net loss per ADS of $0.16 for the same period last year.

“I am glad that we closed out the year 2015 with a quarter of solid topline performance and strong growth in profitability. Non-GAAP net income reached $11.8 million, representing a 29.9% non-GAAP net margin and marking the fourth consecutive profitable quarter for Momo. It not only speaks to our ability to enhance profitability as revenue expands, but also shows our leverage to re-invest in building new drivers as the core business continues to scale.” Commented Yan Tang, Chairman and CEO of Momo.

"On the product side, we have also made encouraging progresses in pushing our boundaries beyond the core services and user base. On top of Momo Live, the interactive live concert service launched in September last year, we have unveiled an open platform to connect more talented performers and started to build a scalable business around it. Since the debut of the open platform in mid-December, we have seen a steep ramp-up in nearly all the key performance indicators for our interactive live music service. More importantly, we are seeing not only synergies between our core product offerings and the music service, but also opportunities to bring in new users and create new ways for people to connect and have fun on the platform. We have a strong roadmap ahead and are confident that this service will become a meaning contributor to both revenues and user engagements in 2016.

2015 was also a remarkable year with a number of great milestones we achieved in monetization. For example, we built our mobile marketing business from nearly scratch and now have established ourselves as a well-recognized mobile marketing platform for a broad range of businesses including brand owners, local merchants, application developers as well as other small and medium sized businesses.

Heading into the new year, user growth will continue to stay on top of our priority list. At the same time, we are going to be digging deeper into various monetization opportunities, in order to deliver stronger financial results to our shareholders.’


Friday, November 20, 2015

Comments & Business Outlook

Third Quarter 2015 Financial Results

  • Total net revenues were $37.5 million in the third quarter of 2015, an increase of 204% from $12.3 million during the same quarter of 2014
  • Non-GAAP diluted net income per ADS (note 1) was $0.02, compared to a non-GAAP diluted net loss per ADS of $0.68 for the same period last year.

"I'm pleased to deliver another solid quarter of robust growth driven by games, mobile marketing and membership subscription," commented Yan Tang, Chairman and CEO of Momo. "Building a compelling social experience and creating innovative ways for people to socialize remains the top priority for our team. In September, we officially unveiled our interactive live music service - Momo Live. While still early in its development, the service is already adding a new dimension for our users to connect and have fun on our platform. We are seeing significant potential and synergies in the combination of a mobile social platform and online entertainment services, which in itself is ramping up at an accelerating pace due to the meaningful improvement of mobile infrastructures. This marks our first step into this fast growing market. Based on the past two months of operations, we are currently analyzing user data and feedbacks and developing our roadmap accordingly. Our plans will be unfolded gradually in the quarters ahead.

"On the monetization side, mobile marketing continued to generate strong growth momentum in the third quarter. Over the past three quarters, we successfully transformed ourselves from a simple traffic generator for third party partners into a well-rounded marketing platform covering a broad range of marketing spectrum including brand-oriented display ads to action driven ad products such as app downloads. In July we introduced a real-time-bidding mechanism to our proprietary mobile marketing system which resulted in a significant growth in effective CPMs. As one of the very few native marketing platforms with quality and sizable traffic in China, we are seeing strong demand from a wide range of marketers. Compared with other peers, our pricing remains extremely competitive, providing ample room for further growth. We will continue to invest in optimizing the system efficiency, targeting capabilities, ad formats, measurement system as well as distributors network in order to build mobile marketing into a powerhouse for our future growth."


Thursday, August 20, 2015

Comments & Business Outlook

Second Quarter 2015 Financial Results 

  • Net revenues increased 264% year over year to $30.7 million.
  • Non-GAAP net income attributable to Momo Inc. (note 1) was $6.0 million compared to a non-GAAP net loss of $5.4 million for the same period last year.
  • Diluted net income per American Depositary Share ("ADS") was $0.01, compared to a diluted net loss per ADS of $1.16 for the same period last year.
  • Non-GAAP diluted net income per ADS (note 1) was $0.03, compared to a non-GAAP diluted net loss per ADS of $1.11 for the same period last year.

    Commented Yan Tang, Chairman and CEO of Momo, "In the second quarter we devoted significant resources into the launch of Momo6.0 and swiftly rolled out two follow up upgrades to address the issues observed through our analysis of data and user feedbacks. Looking forward, we will continue to optimize the existing feature sets and create new social use cases to lower the barrier of communications on Momo, particularly for new users. These explorations are crucial for us to keep pushing the boundaries of our targetable user base and further increase the scale of the platform.

    "I'm also excited to announce that we will soon be debuting Momo Live to the tens of millions of Momo users. This interactive live music service will create a brand new way for our users to connect and socialize on the platform. It will enrich the content offering on the platform and therefore help us improve engagement and bring in new users.

    "On the monetization side, we launched a native marketing system to support self-serving ad placement on a real-time-bidding mechanism. The launch of this marketing system has greatly improved the effective CPM of our proprietary marketing product portfolio, which has already become a powerful engine for our future growth.  In August 2015, we celebrated the fourth anniversary of Momo, a meaningful milestone for our young and vibrant team. Product innovation has taken us to where we are today and will continue to drive us forward in our pursuit of growth in the years ahead."


  • Thursday, July 30, 2015

    Going Private News

    BEIJING, July 29, 2015 (GLOBE NEWSWIRE) -- Momo Inc. (Nasdaq:MOMO) ("Momo" or the "Company"), a leading mobile social networking platform in China, today announced that the special committee (the "Special Committee") of the Company's board of directors has retained J.P. Morgan Securities (Asia Pacific) Limited as its financial advisor, Shearman & Sterling LLP as its United States legal counsel and Conyers Dill & Pearman as its Cayman Islands legal counsel in connection with its review and evaluation of the previously announced preliminary non-binding "going private" proposal letter that the Company's board of directors received on June 23, 2015.

    The Special Committee is continuing its evaluation of the proposed "going private" transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.


    Tuesday, June 23, 2015

    Going Private News

    BEIJING, June 23, 2015 (GLOBE NEWSWIRE) -- Momo Inc. (MOMO) ("Momo" or the "Company"), a leading mobile social networking platform in China, today announced that its board of directors (the "Board") has received a non-binding proposal letter, dated June 23, 2015, from Mr. Yan Tang ("Mr. Tang"), co-founder, chairman and chief executive officer of Momo, Matrix Partners China II Hong Kong Limited ("Matrix"), Sequoia Capital China Investment Management L.P. ("Sequoia") and Huatai Ruilian Fund Management Co., Ltd. ("Huatai Ruilian", and together with Mr. Tang, Matrix and Sequoia, the "Buyer Group"), proposing a "going-private" transaction (the "Transaction") to acquire all of the outstanding Class A ordinary shares of Momo not already owned by the Buyer Group for US$18.90 in cash per American depositary share ("ADS"), which represents a premium of 20.5% to the closing trading price of the Company's ADS on June 22, 2015, the last trading day prior to the date hereof.

    The Buyer Group and their affiliates beneficially own an aggregate of approximately 47.8% of all of the Company's issued and outstanding Shares, which represent approximately 84.1% of the aggregate voting power of the Company.

    According to the proposal letter, the Buyer Group intends to fund the consideration payable in the Transaction with a combination of debt and/or equity capital, and rollover equity in the Company. A copy of the proposal letter is attached as Annex A to this press release.

    The Board has formed a special committee comprised of two independent, disinterested directors, Messrs. Dave Daqing Qi and Benson Bing Chung Tam. The special committee ‎plans to retain legal and financial advisors to assist it in evaluating the Transaction.

    The Board cautions the Company's shareholders and others considering trading in its securities that the Board just received the non-binding proposal letter from the Buyer Group and no decisions have been made with respect to the Company's response to the Transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.


    Tuesday, May 19, 2015

    Comments & Business Outlook

    First Quarter 2015 Financial Results

    • Net revenues increased 383% year over year to $26.3 million, exceeding the Company's guidance between $24 million and $26 million.
    • Non-GAAP diluted net income per ADS (note 1) was $0.05, compared to a non-GAAP diluted net loss per ADS of $0.06 for the same period last year.

    "The first quarter of 2015 has been a fruitful quarter and a solid start to the year ahead of us. We continued to deliver strong topline growth and achieved profitability for the first time in our operating history." Said Yan Tang, Chairman and CEO of Momo, "On the operational front, we stayed focused on executing in our key strategic areas. The size of our platform continued to expand and we are seeing our users engaging with the platform in an increasingly diversified way. With the launch of Momo 6.0 in April, we are taking a significant step forward toward our long term mission of enabling every Momo user to discover and connect to interesting people around them."

    Business Outlook

    For the second quarter of 2015, the Company expects revenues to be between $31 million and $33 million, representing a year-over-year increase of 267% to 291%. These estimates reflect the Company's current and preliminary view, which is subject to change.


    Thursday, March 5, 2015

    Comments & Business Outlook

    Fourth Quarter 2014 Financial Results

    • Net revenues were $18.6 million in the fourth quarter of 2014, a substantial increase of 702.3% from the same period last year.
    • 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.

    Mr. Yan Tang, Chairman and CEO of Momo commented, "I am pleased to report a strong performance during the fourth quarter and full year 2014. As we ramped up monetization, revenue grew massively, increasing over 700% year-over-year to $18.6 million during the quarter. We are making great progress in growing our user base, with MAU up 106% year-over-year to 69.3 million. In December 2014, we successfully listed our ADSs on Nasdaq, becoming one of the youngest publicly traded Chinese companies in the US markets. This listing brings us increasing brand recognition that will help expand our user base, attract talent, and increase the confidence of our present and future business partners in our corporate practices."

    "Growing our user base, optimizing our product ecosystem, enhancing user experience and increasing monetization remain our main focus. The introduction of games on our platform, our cooperation with 58.com and Alibaba, and the recent launch of our "gifting" service that enables users to send gifts to other users, are great examples of our ability to innovate, enhance user activity, and increase monetization. Our achievements this past year, in particular, our improving bottom line in the fourth quarter, have increased our confidence in our ability to achieve profitability soon."


    Thursday, December 11, 2014

    IPO Activity

    BEIJING, Dec. 11, 2014 (GLOBE NEWSWIRE) -- Momo Inc. (Nasdaq:MOMO) ("Momo" or the "Company"), one of China's leading mobile social networking platforms, today announced that it has priced its initial public offering of 16,000,000 American depositary shares ("ADSs") at US$13.50 per ADS for a total offering size of US$216.0 million, assuming the underwriters do not exercise their option to purchase additional ADSs. Each ADS represents two Class A ordinary shares of the Company. The ADSs will begin trading on the NASDAQ Global Select Market today under the ticker symbol "MOMO."

    The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 2,400,000 additional ADSs at US$13.50 per ADS.