Connect with us

Technology

Moatable Reports Second Quarter 2024 Financial Results

Published

2 years ago

on

PHOENIX, Aug. 14, 2024 /PRNewswire/ — Moatable, Inc. (OTC: MTBLY) (“Moatable” or the “Company”), a leading US-based SaaS company, today reported its second quarter 2024 financial results.

Second Quarter 2024 Financial Highlights

Revenue increased 19% over Q2 2023 to $15.3 million in Q2 2024; Revenue for the six months ended June 30, 2024 increased 17%, to $29.3 million, compared to the same period last year.Gross profit increased 15% over Q2 2023 to $11.8 million; Gross profit for the six months ended June 30, 2024 increased 14% to $22.5 million, compared to the same period last year.Loss from operations improved 83% from a loss of $2.8 million in Q2 2023 to a loss of $0.5 million in Q2 2024; loss from operations for the six months ended June 30, 2024 improved 74% to $1.6 million compared to $6.3 million in the same period last year.Adjusted EBITDA* improved 146% from a loss of $1.8 million in Q2 2023 to a profit of $0.8 million in Q2 2024; adjusted EBITDA for the six months ended June 30, 2024 improved 126% to a profit of $1.1 million compared to a loss of $4.3 million in the same period last year.Total cash & cash equivalents and restricted cash of $39.2 million as of the end of Q2 2024 compared to $39.0 million as of the end of 2023.

“We are very pleased with the continued steady revenue growth over the past six quarters and are particularly encouraged by our profitability, on an Adjusted EBITDA basis, in the first half of 2024, especially the second quarter. Our Adjusted EBITDA of $836 thousand in Q2 2024 shows significant improvement over the $1.8 million loss in the same quarter of 2023, as we continue to rationalize our cost structure and maintain our path to profitability. The profitability continues the trend in Q1 2024 when we had an Adjusted EBITDA of $251 thousand,” said Scott Stone, the chief financial officer of Moatable.

*  Adjusted EBITDA is a non-GAAP measure. We define adjusted EBITDA as loss from operations excluding share-based compensation expenses, depreciation and amortization expenses, impairment of intangibles, and certain other non-recurring expenses. See the table “Reconciliation of Non-GAAP Financial Measure to the Comparable GAAP Financial Measure” below for details.

About Moatable Inc.

Moatable, Inc. (OTC Pink: MTBLY) operates two US-based SaaS businesses including Lofty and Trucker Path. Moatable’s American depositary shares, each of which currently represents forty-five Class A ordinary shares, trade on OTC Pink open market under the symbol “MTBLY”. For more news and information on Moatable, please visit Moatable.com.

Forward-Looking Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about Moatable’s beliefs and expectations, including statements on making investments and operating businesses that generate long-term returns for investors, and expectations for future growth and innovation are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Moatable’s goals and strategies; Moatable’s future business development, financial condition and results of operations; Moatable’s expectations regarding demand for and market acceptance of its services; Moatable’s plans to enhance user experience, infrastructure and service offerings. Further information regarding these and other risks is included in our recent annual and quarterly reports on Form 10-K and Form 10-Q and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and Moatable does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Non-GAAP Financial Information

This press release includes certain financial measures that are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”), including Adjusted EBITDA.  We define Adjusted EBITDA as loss from operations excluding equity-based compensation, depreciation and amortization, impairment of intangibles, and certain other non-recurring expenses. See “Reconciliation of Non-GAAP Financial Measure to the Comparable GAAP Financial Measure” below.

We believe that these non-GAAP financial measures are provided to enhance the reader’s understanding of our past financial performance and our prospects for the future. Our management team uses these non-GAAP financial measures in assessing the Company’s performance, as well as in planning and forecasting future periods. The non-GAAP financial information is presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies.

For more information, please contact:
Investor Relations Department
Moatable, Inc.
Email: ir@moatable.com

 

 

 

MOATABLE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2023 and 2024

(In thousands of US dollars)

For the three months ended June 30,

For the six months ended June 30,

2023

2024

2023

2024

Revenues:

SaaS revenue

$

12,851

$

15,249

$

24,931

$

29,231

Other services

17

40

86

81

Total revenues

12,868

15,289

25,017

29,312

Cost of revenues:

SaaS business

2,606

3,464

5,261

6,744

Other services

15

36

83

72

Total cost of revenues

2,621

3,500

5,344

6,816

Gross profit

10,247

11,789

19,673

22,496

Operating expenses

Selling and marketing

4,639

4,576

9,535

8,363

Research and development

4,911

4,555

9,813

9,013

General and administrative

3,528

3,136

6,575

6,534

Impairment of intangible assets

—

—

—

207

Total operating expenses

13,078

12,267

25,923

24,117

Loss from operations

$

(2,831)

$

(478)

$

(6,250)

$

(1,621)

 

 

 

RECONCILIATION OF NON-GAAP FINANCIAL MEASURE TO THE COMPARABLE GAAP

FINANCIAL MEASURE

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2023 and 2024

(In thousands of US dollars, except share data and per share data)

For the three months ended June 30,

For the six months ended June 30,

2023

2024

2023

2024

Loss from operations

$

(2,831)

$

(478)

$

(6,250)

$

(1,621)

Plus (minus)

Share-based compensation expense

713

653

1,478

1,325

Depreciation and amortization expenses

289

192

518

425

Impairment of intangibles

—

—

—

207

Correction of prior period error

—

(283)

—

(833)

Provision for insurance reimbursements
   receivable

—

737

—

737

Arbitration fees

—

15

—

847

Adjusted EBITDA

(1,829)

836

(4,254)

1,087

 

 

View original content:https://www.prnewswire.com/news-releases/moatable-reports-second-quarter-2024-financial-results-302222853.html

SOURCE Moatable, Inc.

Related Topics:
Continue Reading

Technology

Graco® SnugRide® Turn & Slide™ Brings Unique Turn-and-Slide Innovation to Families

Published

50 minutes ago

on

November 9, 2026

By

Graco’s first-ever rotating infant car seat goes beyond turning alone, sliding baby closer to help make getting in and out of the car easier.

Turn & Slide goes beyond rotation alone, turning 180° toward the caregiver and gliding smoothly on and off the base to bring baby closer.Designed for growing families, the car seat helps reduce reaching, lifting and maneuvering while preserving neighboring seat-space.Available now for $349.99 at GracoBaby.com, Amazon and Babylist.

ATLANTA, Nov. 9, 2026 /PRNewswire/ — Graco® today announced the availability of its SnugRide® Turn & Slide Rotating Infant Car Seat, designed to make one of the most repeated parts of caring for a baby easier: getting baby in and out of the car. As Graco’s first-ever rotating infant car seat, Turn & Slide combines a 180° rotation with a unique sliding motion that brings baby closer to the caregiver.

From the first ride home to daycare drop-offs, doctor appointments and family outings, parents are constantly on the move. SnugRide Turn & Slide was designed to make those moments easier, helping reduce the physical effort of the in and out transitions so caregivers can spend more time focused on their baby and the moments that matter.

“At Graco, we’re always looking for ways to make parenting easier,” said Kerry Strzelecki, Vice President of Brand Management at Graco. “Turn & Slide was designed with that goal in mind, going beyond rotation to bring baby closer to the caregiver. We’re proud to offer families an innovation that takes some of the effort out of getting on the go, giving parents more time to focus on the moments that matter.”

Going Beyond Rotation
Beyond its unique turn-and-slide design, SnugRide Turn & Slide is engineered to rotate without blocking the neighboring seat, helping preserve second-row space and support three-across seating in many vehicles. This gives growing families more flexibility, especially when traveling with multiple children.

Additional features include:

Lightweight Portability: The lightweight carrier is designed to make moving baby between the car, stroller and home easier.Simple, Secure Installation: SnugLock® Technology enables installation in less than one minute using the vehicle seat belt or LATCH, while the InRight™ LATCH system provides a one-second, click-secure attachment.Adjusts as Baby Grows: The No-Rethread Simply Safe Adjust™ Harness System allows the headrest and harness to adjust together as baby grows, while the 4-position adjustable base with bubble level helps support proper installation.

Backed by Graco’s Commitment to Safety
For more than 65 years, Graco has been committed to providing families with products built around safety and quality. SnugRide Turn & Slide is Graco® ProtectPlus Engineered™, undergoing rigorous frontal, side, rear and rollover crash testing. The seat also features an integrated Anti-Rebound Bar and PureProtect™ fabrics that are fire-resistant without added chemicals.

Following the voluntary recall of select SnugRide Turn & Slide infant car seats earlier this year, Graco implemented engineering updates and completed additional testing and validation to address the issue before bringing the product to market.

Available Today
The SnugRide Turn & Slide Rotating Infant Car Seat (MSRP $349.99) is available at GracoBaby.com, Amazon and Babylist in Noir, Mulberry and Sandstone colorways.

Turn & Slide will also be available as part of a travel system with the Modes™ Nest Stroller beginning in December 2026 for an MSRP of $674.99.

For more information about Graco and the SnugRide Turn & Slide Rotating Infant Car Seat, visit www.gracobaby.com and follow along on social at: @graco on Instagram and Facebook, and @gracochildrensproducts on TikTok.

About Graco
Graco is one of the most recognized children’s products brands that provides innovative and reliable solutions to help parents make smart choices while taking care of their little ones. For more than 65 years, Graco has built high-quality products that parents can trust, including car seats, strollers, travel systems, swings, highchairs, playards and nursery care essentials. Graco is part of Newell Brands Inc., a leading global consumer products company, with its products available globally through a variety of retail partners.

About Newell Brands
Newell Brands (NASDAQ: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Rubbermaid, Sharpie®, Graco®, Coleman®, Rubbermaid Commercial Products®, Yankee Candle®, Paper Mate®, FoodSaver®, Dymo®, EXPO®, Elmer’s®, Oster®, NUK®, Spontex® and Campingaz®. Newell Brands is focused on delighting consumers by lighting up everyday moments.

This press release and additional information about Newell Brands are available on the company’s website, www.newellbrands.com.

*Based on 2024 Baby Gear Brand Health Tracker Data

View original content to download multimedia:https://www.prnewswire.com/news-releases/graco-snugride-turn–slide-brings-unique-turn-and-slide-innovation-to-families-302932865.html

SOURCE Newell Brands

Continue Reading

Technology

AI Search Is Killing the Click. Breaker Says B2B Growth Must Move Beyond Traffic

Published

50 minutes ago

on

November 9, 2026

By

As AI summaries reduce referral search clicks and automated traffic clouds website metrics, Breaker says B2B marketers need to turn increasingly valuable visits into identifiable, ongoing audience relationships.

AUSTIN, Texas, Nov. 9, 2026 /PRNewswire/ — Artificial intelligence is weakening a metric B2B marketers have long treated as evidence that content is working: the website visit. Pew Research Center found users clicked traditional search results in 8% of visits containing a Google AI summary, compared with 15% of visits without one. Links inside the AI summaries received clicks in only 1% of visits.

A company can now appear in an AI-generated answer without receiving a visit. Even when someone does click through, the visit alone may reveal little about the visitor’s identity or potential fit as a buyer. “Clicks and traffic that aren’t identifiable to a human are a poor signal,” said Ben Billups, founder and CEO of Breaker.

AI Visibility Does Not Guarantee Demand

Large language models (LLM) are already changing how people discover online content. The Interactive Advertising Bureau found that 95% of publishers it surveyed reported moderate or significant effects from LLM-driven discovery. For marketers, that changes what visibility can tell them. Billups said businesses still need to make themselves discoverable to AI systems, but appearing in an answer does not mean the system is recommending them.

An AI response may mention several companies, compare pricing or social proof, or surface an advantage held by a competitor. That makes the value of an AI-driven referral difficult to interpret. “We don’t have visibility into the chat that led to the traffic, so there’s no way to know definitively what context AI is putting your company into,” Billups said.

AI discovery can also be less predictable than traditional search. “As AI becomes more dominant, it’s more important to be discoverable and to have positive sentiment online, but reach is less deterministic,” Billups said. “What AI thinks is relevant to one user, it may not think is relevant for another.”

Anonymous Traffic Is a Weaker Signal

Traffic volume presents a separate measurement problem because a growing share of web activity is automated. Statista reported that bots generated 53% of global web traffic in 2025. For marketers, that makes a visit less useful as a signal unless they can determine who or what produced it.

For B2B companies, actions that help establish visitor identity can provide more information about actual buyer interest. Newsletter subscriptions, resource downloads, forms, and demo requests can help marketers distinguish potential buyers from bots and determine whether a contact matches the company’s ideal customer profile (ICP).

Billups uses a hypothetical example to illustrate the difference. “Let’s say that 50% of your traffic is bots, 50% is human, and 20% of the human traffic is actually in your ICP,” he said. “Versus with a newsletter, you can know in advance that 100% of the traffic is in your ICP and human.”

Post-Search Growth Starts With What Happens Next

Clicks still matter, but Billups says marketers should pay closer attention to what visitors encounter after arriving. What matters next is if that visit gives the business a way to identify a potential buyer and continue the conversation. “We still need clicks, but particularly in B2B, it’s the messaging that tells someone if they’re a good fit for your product,” Billups said.

Once someone subscribes to a newsletter, however, the interaction is longer than the visit. Once someone subscribes, the company can identify them, continue communicating over time, and nurture if they fit its ICP. That continuity is key in B2B, where a purchase decision may be months away. “Relationships are built on time, trust, and communication,” Billups said. “Simply knowing about a business or product is not enough.”

About Breaker    
Breaker is the only email platform that sends your newsletter and grows your list with high-value B2B prospects—on autopilot. Powered by advanced targeting, AI enrichment, and proprietary deliverability systems, Breaker ensures every email reaches the inbox while generating verified, sales-ready subscribers for as little as $1.50 each. Seamless CRM integrations, white-glove migration, and built-in analytics make it easy for marketers to scale outreach and convert engagement into pipeline. Built by marketers, for marketers. For more information, visit joinbreaker.ai.

References 

Gaudiaut, T. (2026, May 26). Bad bots are taking over the web. Statista. statista.com/chart/35950/share-of-global-web-traffic-generated-by-humans-and-bots-since-2018/Interactive Advertising Bureau. (2026, July 16). The AI discovery shift: How publishers are navigating the new search and discovery landscape. iab.com/insights/ai-insights-engine-july-2026/Chapekis, A., & Lieb, A. (2025, July 22). Google users are less likely to click on links when an AI summary appears in the results. Pew Research Center. pewresearch.org/short-reads/2025/07/22/google-users-are-less-likely-to-click-on-links-when-an-ai-summary-appears-in-the-results/

Media Inquiries:
Karla Jo Helms
JOTO PR™ 
727-777-4629

View original content to download multimedia:https://www.prnewswire.com/news-releases/ai-search-is-killing-the-click-breaker-says-b2b-growth-must-move-beyond-traffic-302932960.html

SOURCE Breaker

Continue Reading

Technology

Byzfunder to Participate Alongside Leading Fintech Executives and Investors at Exclusive 2026 KBW Fintech Ecosystem Conference

Published

50 minutes ago

on

November 9, 2026

By

The invitation-only gathering brings together influential voices shaping the future of financial services.

NEW YORK, Nov. 9, 2026 /PRNewswire/ — Byzfunder, a leading technology-driven provider of small business financing, today announced its participation in the 2026 KBW Fintech Ecosystem Conference, taking place November 10–12 at Convene 30 Hudson Yards in New York City.

The conference will feature executives from Visa, Mastercard, American Express, PayPal and Capital One, alongside participants from across the financial technology and investment communities.

Byzfunder’s participation underscores the company’s expanding presence within the financial technology industry and its continued investment in artificial intelligence, proprietary underwriting technology, risk analytics, and scalable financing infrastructure.

Led by CEO Ilya Fridman, Byzfunder has developed an integrated technology platform designed to transform small business financing through intelligent automation, advanced credit decisioning, and data-driven risk management.

“The financial services industry is undergoing a fundamental transformation, driven by artificial intelligence, automation, and increasingly sophisticated data analytics,” said Ilya Fridman, Chief Executive Officer of Byzfunder. “The KBW Fintech Ecosystem Conference brings together an exceptional group of industry leaders and institutional investors who are helping shape that transformation. We look forward to exchanging ideas and exploring opportunities as we continue building the next generation of technology-driven small business financing.”

Byzfunder’s ongoing investment in financial technology and institutional-grade risk management reflects its long-term strategy of combining innovation with disciplined, scalable growth.

About Byzfunder

Byzfunder is a leading financial technology company providing innovative working capital solutions to small and medium-sized businesses nationwide. Combining approximately two decades of industry experience with proprietary technology, artificial intelligence, advanced risk analytics, and automated underwriting capabilities, Byzfunder has developed a scalable financing platform designed to deliver efficient access to capital.

For more information, visit byzfunder.com.

Media Contact

Xin Hamilton, CMO

press@byzfunder.com

byzfunder.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/byzfunder-to-participate-alongside-leading-fintech-executives-and-investors-at-exclusive-2026-kbw-fintech-ecosystem-conference-302932988.html

SOURCE Byzfunder

Continue Reading

Trending