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Yalla Group Limited Announces Unaudited Third Quarter 2024 Financial Results

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DUBAI, UAE, Nov. 11, 2024 /PRNewswire/ — Yalla Group Limited (“Yalla” or the “Company”) (NYSE: YALA), the largest Middle East and North Africa (MENA)-based online social networking and gaming company, today announced its unaudited financial results for the third quarter ended September 30, 2024.

Third Quarter 2024 Financial and Operating Highlights

Revenues were US$88.9 million in the third quarter of 2024, representing an increase of 4.4% from the third quarter of 2023.Revenues generated from chatting services in the third quarter of 2024 were US$58.5 million.Revenues generated from games services in the third quarter of 2024 were US$30.2 million.Net income was US$39.2 million in the third quarter of 2024, an 11.2% increase from US$35.2 million in the third quarter of 2023. Net margin[1] was 44.1% in the third quarter of 2024.Non-GAAP net income[2] was US$42.6 million in the third quarter of 2024, an 11.3% increase from US$38.3 million in the third quarter of 2023. Non-GAAP net margin[3] was 47.9% in the third quarter of 2024.Average MAUs[4] increased by 14.5% to 40.2 million in the third quarter of 2024 from 35.1 million in the third quarter of 2023.The number of paying users[5] on our platform increased by 12.0% to 12.6 million in the third quarter of 2024 from 11.2 million in the third quarter of 2023.

[1] Net margin is net income as a percentage of revenues.

[2] Non-GAAP net income represents net income excluding share-based compensation. Non-GAAP net income is a non-GAAP financial measure. See the sections entitled “Non-GAAP Financial Measures” and “Reconciliations of GAAP and Non-GAAP Results” for more information about the non-GAAP measures referred to in this press release.

[3] Non-GAAP net margin is non-GAAP net income as a percentage of revenues.

[4] “Average MAUs” refers to the average monthly active users in a given period calculated by dividing (i) the sum of active users for each month of such period, by (ii) the number of months in such period. “Active users” refers to registered users who accessed any of our main mobile applications at least once during a given period. Yalla, Yalla Ludo, Yalla Parchis, YallaChat, 101 Okey Yalla and WeMuslim have been our main mobile applications for the periods presented herein; and Ludo Royal has been our main mobile application since the third quarter of 2023.

[5] “Paying users” refers to registered users who played a game or purchased our virtual items or upgrade services using virtual currencies on our main mobile applications at least once in a given period, except for users who received all of their virtual currencies directly or indirectly from us for free; YallaChat does not involve the usage of virtual currencies, and the metrics of “paying users” and “ARPPU” do not reflect user activities on YallaChat. “Registered users” refers to users who have registered accounts on our main mobile applications as of a given time; a registered user is not necessarily a unique user, as an individual may register multiple accounts on our main mobile applications.

 

Key Operating Data

For the three months ended

September 30, 2023

September 30, 2024

Average MAUs (in thousands)

35,096

40,176

Paying users (in thousands)

11,236

12,582

 

“We are thrilled to report robust third quarter results, marked by record-setting revenues and enhanced profitability,” said Mr. Yang Tao, Founder, Chairman and CEO of Yalla. “Our revenues rose to US$88.9 million, beating the upper end of our guidance, while net income increased by 11.2% year-over-year to US$39.2 million. We also drove a 14.5% year-over-year increase in average MAUs to 40.2 million and a 12% year-over-year increase in our group’s paying users to 12.6 million. This impressive performance was fueled by our dedication to enhancing localization with new gamification features and targeted gaming events, as well as our ongoing efforts to refine operational processes, optimize user acquisition and further develop our product ecosystem.”

“Furthermore, we continued to explore and invest in Yalla Game, with a strategic focus on new game development. We are on track to test our self-developed mid-core games by year-end. We are confident that our experience in casual games and commitment to user experience and product excellence will enable us to deliver high-quality games and grow our presence in this thriving market. As MENA’s leader in online social networking and gaming, we will continue providing high-quality products and services to our users while playing an active role in the region’s digital transformation.” Mr. Yang concluded.

Ms. Karen Hu, CFO of Yalla, commented, “During the third quarter of 2024, strong execution of our high-quality growth strategies led to record-high revenues. We also continued to boost efficiency and operating leverage. As a result, we enhanced our profitability with expanded net margin of 44.1%, and excluding share-based compensation, non-GAAP net margin of 47.9%. Our fundamentals remain solid, strongly supporting our current business operations as well as our investments in future development. Looking ahead, we will continue to pursue healthy, sustainable growth, creating long-term value for our stakeholders.”

Third Quarter 2024 Financial Results

Revenues

Our revenues were US$88.9 million in the third quarter of 2024, a 4.4% increase from US$85.2 million in the third quarter of 2023. The increase was primarily driven by our broadening user base and enhanced monetization capability. Our average MAUs increased by 14.5% to 40.2 million in the third quarter of 2024 from 35.1 million in the third quarter of 2023. Our solid revenue growth was also partially attributable to the significant increase in the number of paying users, which grew to 12.6 million in the third quarter of 2024 from 11.2 million in the third quarter of 2023.

In the third quarter of 2024, our revenues generated from chatting services were US$58.5 million, and revenues from games services were US$30.2 million.

Costs and expenses

Our total costs and expenses were US$56.4 million in the third quarter of 2024, a 6.9 % increase from US$52.8 million in the third quarter of 2023.

Our cost of revenues was US$31.8 million in the third quarter of 2024, a 14.6 % increase from US$27.8 million in the same period last year, primarily due to higher commission fees paid to third-party payment platforms as a result of increasing revenues generated. Cost of revenues as a percentage of our total revenues increased to 35.8% in the third quarter of 2024 from 32.6% in the third quarter of 2023.

Our selling and marketing expenses were US$7.4 million in the third quarter of 2024, a 34.9% decrease from US$11.3 million in the same period last year, primarily driven by our more disciplined advertising and promotion approach. Selling and marketing expenses as a percentage of our total revenues decreased to 8.3% in the third quarter of 2024 from 13.3% in the third quarter of 2023.

Our general and administrative expenses were US$10.1 million in the third quarter of 2024, a 38.3% increase from US$7.3 million in the same period last year, primarily due to an increase in incentive compensation. General and administrative expenses as a percentage of our total revenues increased to 11.4% in the third quarter of 2024 from 8.6% in the third quarter of 2023.

Our technology and product development expenses were US$7.1 million in the third quarter of 2024, an 11.1% increase from US$6.4 million in the same period of last year, primarily due to an increase in salaries and benefits for our technology and product development staff. Technology and product development expenses as a percentage of our total revenues increased to 8.0% in the third quarter of 2024 from 7.5% in the third quarter of 2023.

Operating income

Operating income remained relatively stable at US$32.5 million in the third quarter of 2024.

Non-GAAP operating income[6]

Non-GAAP operating income in the third quarter of 2024 was US$35.9 million, a 1.4% increase from US$35.4 million in the same period last year.

Interest income

Interest income was US$7.8 million in the third quarter of 2024, compared with US$5.6 million in the third quarter of 2023, primarily due to an increase in interest rates applicable to the Company’s bank deposits.

Income tax expense

Income tax expense was US$1.29 million in the third quarter of 2024, compared with US$0.71 million in the third quarter of 2023. The increase was primarily due to the introduction and implementation of the UAE Corporate Tax Law, which is effective for the financial years starting on or after June 1, 2023.

Net income

As a result of the foregoing, our net income was US$39.2 million in the third quarter of 2024, an 11.2% increase from US$35.2 million in the third quarter of 2023.

Non-GAAP net income

Non-GAAP net income in the third quarter of 2024 was US$42.6 million, an 11.3% increase from US$38.3 million in the same period last year.

Earnings per ordinary share

Basic and diluted earnings per ordinary share were US$0.25 and US$0.22, respectively, in the third quarter of 2024, while basic and diluted earnings per ordinary share were US$0.23 and US$0.20, respectively, in the same period of 2023.

Non-GAAP earnings per ordinary share[7]

Non-GAAP basic and diluted earnings per ordinary share were US$0.27 and US$0.24, respectively, in the third quarter of 2024, compared with US$0.24 and US$0.21, respectively, in the same period of 2023.

Cash and cash equivalents, restricted cash, term deposits and short-term investments 

As of September 30, 2024, we had cash and cash equivalents, restricted cash, term deposits and short-term investments of US$570.1 million, compared with US$535.7 million as of December 31, 2023.

Share Repurchase Program

Pursuant to the Company’s share repurchase program beginning on May 21, 2021, with an extended expiration date of May 21, 2025, in the third quarter of 2024, the Company repurchased 1,736,383 American depositary shares (“ADSs”), representing 1,736,383 Class A ordinary shares from the open market with cash for an aggregate amount of approximately US$7.0 million. Cumulatively, the Company had completed cash repurchases in the open market of 5,709,259 ADSs, representing 5,709,259 Class A ordinary shares, for an aggregate amount of approximately US$42.5 million, as of September 30, 2024. The aggregate value of ADSs and/or Class A ordinary shares that remain available for purchase under the current share repurchase program was US$107.5 million as of September 30, 2024.

Outlook

For the fourth quarter of 2024, Yalla currently expects revenues to be between US$77.0 million and US$84.0 million.

The above outlook is based on current market conditions and reflects the Company management’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

[6] Non-GAAP operating income represents operating income excluding share-based compensation. Non-GAAP operating income is a non-GAAP financial measure. See the sections entitled “Non-GAAP Financial Measures” and “Reconciliations of GAAP and Non-GAAP Results” for more information about the non-GAAP measures referred to in this press release.

[7] Non-GAAP earnings per ordinary share is non-GAAP net income attributable to Yalla Group Limited’s shareholders, divided by weighted average number of basic and diluted shares outstanding. Non-GAAP net income attributable to Yalla Group Limited’s shareholders represents net income attributable to Yalla Group Limited’s shareholders, excluding share-based compensation. Non-GAAP earnings per ordinary share and non-GAAP net income attributable to Yalla Group Limited’s shareholders are non-GAAP financial measures. See the sections entitled “Non-GAAP Financial Measures” and “Reconciliations of GAAP and Non-GAAP Results” for more information about the non-GAAP measures referred to in this press release.

Conference Call

The Company’s management will host an earnings conference call on Monday, November 11, 2024, at 8:00 PM U.S. Eastern Time, Tuesday, November 12, 2024, at 5:00 AM Dubai Time, or Tuesday, November 12, 2024, at 9:00 AM Beijing/Hong Kong time.

Dial-in details for the earnings conference call are as follows:

United States Toll Free:

+1-888-317-6003

International:

+1-412-317-6061

United Arab Emirates Toll Free:

80-003-570-3589

Mainland China Toll Free:

400-120-6115

Hong Kong, China Toll Free:

800-963-976

Access Code: 

5810867

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.yalla.com. 

A replay of the conference call will be accessible until November 18, 2024, by dialing the following telephone numbers:

United States Toll Free:

+1-877-344-7529

International:

+1-412-317-0088

Access Code:

5806791

Non-GAAP Financial Measures

To supplement the financial measures prepared in accordance with generally accepted accounting principles in the United States, or GAAP, this press release presents non-GAAP financial measures, namely non-GAAP operating income, non-GAAP net income, non-GAAP net margin and non-GAAP basic and diluted earnings per ordinary share, as supplemental measures to review and assess the Company’s operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define non-GAAP operating income as operating income excluding share-based compensation. We define non-GAAP net income as net income excluding share-based compensation. We define non-GAAP net margin as non-GAAP net income as a percentage of revenues. We define non-GAAP net income attributable to Yalla Group Limited’s shareholders as net income attributable to Yalla Group Limited’s shareholders, excluding share-based compensation. We define non-GAAP earnings per ordinary share as non-GAAP net income attributable to Yalla Group Limited’s shareholders, divided by the weighted average number of basic and diluted shares outstanding.

By excluding the impact of share-based compensation expenses, which are non-cash charges, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s past performance and future prospects. Investors can better understand the Company’s operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess its core operating results, as they exclude share-based compensation expenses, which are not expected to result in cash payments. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.

The non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using the non-GAAP financial measures is that they do not reflect all items of income and expense that affect the Company’s operations. Share-based compensation has been and may continue to be incurred in the Company’s business and is not reflected in the presentation of non-GAAP financial measures. Further, the non-GAAP financial measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by providing the relevant disclosure of its non-GAAP financial measures in the reconciliations to the nearest U.S. GAAP performance measures, all of which should be considered when evaluating its performance. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.

Reconciliations of GAAP and non-GAAP results are set forth at the end of this press release.

About Yalla Group Limited

Yalla Group Limited is the largest MENA-based online social networking and gaming company, in terms of revenues in 2022. The Company operates two flagship mobile applications, Yalla, a voice-centric group chat platform, and Yalla Ludo, a casual gaming application featuring online versions of board games, popular in MENA, with in-game voice chat and localized Majlis functionality. Building on the success of Yalla and Yalla Ludo, the Company continues to add engaging new content, creating a regionally-focused, integrated ecosystem dedicated to fulfilling MENA users’ evolving online social networking and gaming needs. Through its holding subsidiary, Yalla Game Limited, the Company has expanded its capabilities in mid-core and hard-core games in the MENA region, leveraging its local expertise to bring innovative gaming content to its users. In addition, the growing Yalla ecosystem includes YallaChat, an IM product tailored for Arabic users, WeMuslim, a product that supports Arabic users in observing their customs, and casual games such as Yalla Baloot and 101 Okey Yalla, developed to sustain vibrant local gaming communities in MENA. Yalla is also actively exploring outside of MENA with Yalla Parchis, a Ludo game designed for the South American markets. Yalla’s mobile applications deliver a seamless experience that fosters a sense of loyalty and belonging, establishing highly devoted and engaged user communities through close attention to detail and localized appeal that profoundly resonates with users.

For more information, please visit: https://ir.yalla.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to 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,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about Yalla Group Limited’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Yalla Group Limited’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Yalla Group Limited does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

Yalla Group Limited
Investor Relations
Kerry Gao – IR Director
Tel: +86-571-8980-7962
Email: ir@yalla.com 

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
Email: yalla@tpg-ir.com 

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: yalla@tpg-ir.com 

 

 

YALLA GROUP LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

As of

December 31,
2023

September 30,
2024

US$

US$

ASSETS

Current assets

Cash and cash equivalents

311,883,463

349,117,329

Restricted cash

423,567

428,119

Term deposits

213,105,501

212,514,896

Short-term investments

10,282,329

8,000,000

Amounts due from a related party

109,507

—

Prepayments and other current assets

33,340,602

41,563,630

Total current assets

569,144,969

611,623,974

Non-current assets

Property and equipment, net

1,583,604

1,290,519

Intangible asset, net

1,133,715

956,191

Operating lease right-of-use assets

2,382,026

1,595,166

Long-term investments

51,692,218

135,684,579

Other assets

13,015,729

13,155,593

Total non-current assets

69,807,292

152,682,048

Total assets

638,952,261

764,306,022

LIABILITIES

Current liabilities

Accounts payable

928,055

789,509

Deferred revenue

46,558,571

58,839,261

Operating lease liabilities, current

1,153,691

1,034,753

Amounts due to a related party

—

98,113

Accrued expenses and other current liabilities

26,694,999

33,737,519

Total current liabilities

75,335,316

94,499,155

Non-current liabilities

Operating lease liabilities, non-current

949,970

—

Total non-current liabilities

949,970

—

Total liabilities

76,285,286

94,499,155

EQUITY

Shareholders’ equity of Yalla Group Limited

Class A Ordinary Shares

13,778

13,970

Class B Ordinary Shares

2,473

2,473

Additional paid-in capital

313,306,523

325,394,525

Treasury stock

(35,527,305)

(42,517,154)

Accumulated other comprehensive loss

(2,341,740)

(1,922,789)

Retained earnings

292,223,525

395,316,281

Total shareholders’ equity of Yalla Group Limited

567,677,254

676,287,306

Non-controlling interests

(5,010,279)

(6,480,439)

Total equity

562,666,975

669,806,867

Total liabilities and equity

638,952,261

764,306,022

 

 

YALLA GROUP LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS

OF OPERATIONS

Three Months Ended

Nine Months Ended

September 30,
2023

June 30,
2024

September 30,
2024

September 30,
2023

September 30,
2024

US$

US$

US$

US$

US$

Revenues

85,187,360

81,197,482

88,922,031

237,952,336

248,848,091

Costs and expenses

Cost of revenues

(27,772,226)

(29,025,673)

(31,830,126)

(83,955,518)

(89,427,060)

Selling and marketing expenses

(11,292,732)

(8,491,520)

(7,352,820)

(35,026,197)

(23,944,276)

General and administrative expenses

(7,325,451)

(7,576,904)

(10,133,394)

(25,508,418)

(24,358,190)

Technology and product development expenses  

(6,396,426)

(6,481,616)

(7,108,024)

(20,393,692)

(19,851,894)

Total costs and expenses

(52,786,835)

(51,575,713)

(56,424,364)

(164,883,825)

(157,581,420)

Operating income

32,400,525

29,621,769

32,497,667

73,068,511

91,266,671

Interest income

5,612,861

7,097,975

7,829,223

13,354,425

21,572,082

Government grants

228

365,031

7,603

182,447

439,966

Investment income (loss)

435,545

60,233

133,606

1,456,742

(1,094,288)

Impairment loss of investments

(2,509,480)

—

—

(2,509,480)

—

Income before income taxes

35,939,679

37,145,008

40,468,099

85,552,645

112,184,431

Income tax expense

(708,673)

(5,793,582)

(1,287,156)

(2,146,180)

(10,563,946)

Net income

35,231,006

31,351,426

39,180,943

83,406,465

101,620,485

Net loss attributable to non-controlling interests  

994,099

292,428

673,856

2,750,850

1,472,271

Net income attributable to Yalla Group
   Limited’s shareholders

36,225,105

31,643,854

39,854,799

86,157,315

103,092,756

Earnings per ordinary share

——Basic

0.23

0.20

0.25

0.54

0.64

——Diluted

0.20

0.17

0.22

0.47

0.56

Weighted average number of shares
   outstanding used in computing earnings
   per ordinary share

——Basic

160,554,831

160,721,827

160,944,036

159,134,347

160,681,773

——Diluted

183,111,650

183,535,654

183,354,110

181,460,639

183,383,311

Share-based compensation was allocated in cost of revenues, selling and marketing expenses, general and administrative expenses and

technology and product development expenses as follows:

Three Months Ended

Nine Months Ended

September 30,
2023

June 30,
2024

September 30,
2024

September 30,
2023

September 30,
2024

US$

US$

US$

US$

US$

Cost of revenues

627,760

1,867,863

1,867,294

2,581,522

5,637,874

Selling and marketing expenses

532,001

681,035

261,825

2,517,707

1,642,975

General and administrative expenses

1,633,262

1,321,200

1,114,753

8,121,521

3,769,267

Technology and product development expenses  

255,677

19,198

187,205

920,127

469,134

Total share-based compensation expenses

3,048,700

3,889,296

3,431,077

14,140,877

11,519,250

 

 

YALLA GROUP LIMITED

RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS 

Three Months Ended

Nine Months Ended

September 30,
2023

June 30,
2024

September 30,
2024

September 30,
2023

September 30,
2024

US$

US$

US$

US$

US$

Operating income

32,400,525

29,621,769

32,497,667

73,068,511

91,266,671

Share-based compensation expenses

3,048,700

3,889,296

3,431,077

14,140,877

11,519,250

Non-GAAP operating income

35,449,225

33,511,065

35,928,744

87,209,388

102,785,921

Net income

35,231,006

31,351,426

39,180,943

83,406,465

101,620,485

Share-based compensation expenses,
   net of tax effect of nil

3,048,700

3,889,296

3,431,077

14,140,877

11,519,250

Non-GAAP net income

38,279,706

35,240,722

42,612,020

97,547,342

113,139,735

Net income attributable to Yalla
   Group Limited’s shareholders

36,225,105

31,643,854

39,854,799

86,157,315

103,092,756

Share-based compensation expenses,
   net of tax effect of nil

3,048,700

3,889,296

3,431,077

14,140,877

11,519,250

Non-GAAP net income attributable to
   Yalla Group Limited’s shareholders

39,273,805

35,533,150

43,285,876

100,298,192

114,612,006

Non-GAAP earnings per ordinary share

——Basic

0.24

0.22

0.27

0.63

0.71

——Diluted

0.21

0.19

0.24

0.55

0.62

Weighted average number of shares
   outstanding used in computing earnings
   per ordinary share

——Basic

160,554,831

160,721,827

160,944,036

159,134,347

160,681,773

——Diluted

183,111,650

183,535,654

183,354,110

181,460,639

183,383,311

 

 

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SOURCE Yalla Group Limited

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At IFA, the enthusiasm from visitors offered a tangible reflection of this approach. Under the theme “Touch. Feel. Bond.,” OlloBot created an open, home-inspired setting where visitors could interact with OlloNi SS1 directly. Powered by OlloBot’s proprietary EmpathCore emotional engine and Affinilog interaction system, OlloNi SS1 engages dynamically through touch, sound and facial expressions. OlloNi SS1 also appeared in IFA’s “Robots on the Runway” showcase, where its emotional engine enabled it to react to its surroundings in real time. Visitors were not simply examining a device or comparing functions. They were exploring how it responded to them. The experience reinforced the brand’s conviction that, in the home, emotional connection can matter as much as technical capability.

Next stop: Las Vegas

The recognition and feedback at IFA mark an encouraging step as OlloBot continues to advance its product development and commercialization. Looking ahead to CES 2027, OlloBot is set to take the next step in its journey by introducing two all-new robot family members: a desktop lamp-form robot and OlloBot Gen 2. Visitors will also get a first look at a rich lineup of IP merchandise and ecosystem peripherals built around the flagship OlloVerse universe. Please stay tuned—OlloBot looks forward to welcoming everyone in Las Vegas and sharing how its expanding ecosystem continues to redefine emotional companionship in the home.

About OlloBot

OlloBot is an AI companion robot brand developed by Ollobot Robotics Limited, a Hong Kong-based company and part of BizConf Technology Co., Ltd. (SZSE: 300578).

The company focuses on embodied intelligence and family-oriented AI companion robots designed to support more natural interaction, emotional presence and connection in modern homes. Through its Cyber Pet concept, OlloBot aims to explore how AI and robotics can become a more meaningful and approachable part of everyday family life.

For more information, please visit ollobot.com.

YouTube：https://www.youtube.com/@ollo_botFacebook：https://www.facebook.com/ollobotofficialInstagram：https://www.instagram.com/ollo_botThreads：https://www.threads.com/@ollo_botTikTok：https://www.tiktok.com/@ollo_botX：https://x.com/OLLOBOT_Real

 

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SOURCE OlloBot

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Technology

A new way to explore Japan with AI: Naviu AR Travel Companion for Japan Launches November 1 2026

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5 minutes ago

on

November 1, 2026

By

Patent pending geospatial technology brings 29 language guidance and city scale AR navigation to travelers

TOKYO, Oct. 31, 2026 /PRNewswire/ — Naviu, a business under TANGLE Inc., offering an AI-powered augmented-reality travel companion for Japan, launches on iOS and Android on November 1. Built on patent-pending geospatial technology, Naviu places AR content and navigation accurately in the real world across entire cities, without requiring a visual positioning system.

Travelers can ask Naviu about anything around them and receive answers in any of 29 languages, grounded in their exact location. A semi-transparent AR path provides turn-by-turn guidance, an AI companion walks with the traveler, and the app reveals side-street cafes, local landmarks, and other places that conventional maps and guidebooks may overlook.

About Naviu

Naviu combines an ask-anything AI guide, city-scale AR navigation, photo recognition, bespoke trip planning, and an optional cultural storytelling companion. Its spatial content network also allows brands, cities, and creators to place interactive 3D and AR content in the real world. AR experiences are already live at landmarks including Senso-ji, Tokyo Skytree, Tokyo Tower, Meiji Jingu, and Tokyo Station.

Naviu is available on the App Store and Google Play.

Official site: naviu.app

Key Features

Ask-anything AI guide: Conversational answers about any place in 29 languages, grounded in precise location dataCultural storytelling and guidance: An optional companion mode that guides travelers street by street and narrates local history and storiesAR navigation: A semi-transparent augmented-reality path overlaid on real streets across entire citiesPhoto recognition: Travelers can point the camera at a temple, sign, or storefront and ask what it isBespoke trip planning: Itineraries built around dietary needs, interests, accessibility, and available timeSpatial content network: Brands, cities, and creators can place interactive 3D and AR content in the real world

Statement from the Head of Naviu

“The hard part of traveling in Japan isn’t getting lost. It’s standing in front of something remarkable with no idea what it is. Naviu answers that question in your own language, right where you’re standing, so the city opens up instead of staying a backdrop.”
Jack Mead
CEO of Ashita Co. and Head of Naviu

About TANGLE Inc

TANGLE Inc. is the Tokyo-based company behind the tour operators TOMOGO! and Untold Japan. Its mission, Make the City Yours, reflects a decade of helping travelers discover Japan beyond the guidebook and now extends that experience into software through Naviu.

Company

TANGLE Inc.

Headquarters

Tokyo, Japan

Representative Director

Kengo Goto

Business

TOMOGO!, Untold Japan, and development and operation of Naviu

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SOURCE TANGLE Inc.

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Technology

Karma Automotive Announces Eximius, the Bespoke Vehicle Program for Elite Clients Seeking Singular Expressions of Extreme Performance and Bold Craftsmanship

Published

7 hours ago

on

October 31, 2026

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The First Eximius Creation, “Eximius 1,” is a Menacing Four-Seater Built for the Track which Makes its World Premiere at the 2026 Concours at Wynn Las Vegas

LAS VEGAS, Oct. 31, 2026 /PRNewswire/ — Karma Automotive builds vehicles in the hundreds rather than the thousands, attracting a highly individualistic clientele seeking a unique statement. For those who wish to go further still, and explore new possibilities beyond the extensive options for personalization available through the Studio program, Karma has created the Eximius bespoke vehicle program. Eximius clients may modify the vehicle’s body, performance and powertrain, collaborating with Karma’s design and engineering teams to build a One-of-One statement which will never be repeated.

Karma Eximius clients may modify the vehicle’s body, performance and powertrain to build a One-of-One statement

The first vehicle from Karma Eximius debuts today at the 2026 Concours at Wynn Las Vegas. A menacing four-seater purpose-built for the track, “Eximius 1” is in ongoing development with its commissioning client, who is not revealed at this time. Upon delivery in 2027, “Eximius 1” will be fitted with an extreme-performance Plug-in Series Hybrid utilizing a 6.2 Liter V8 producing nearly 1200hp (550hp ICE, 645hp battery), delivering acceleration from 0-60mph in 2.7 seconds and a top speed in excess of 200mph (estimated). As these parameters would demand, “Eximius 1” will be equipped with carbon-ceramic brakes and two-piece slotted brake rotors, and Ohlins semi-active suspension.

“‘Eximius 1’ began as a conversation with an elite client who loves their Karma Revero, but wanted something more extreme and unexpected, which was music to our ears,” says Marques McCammon, President and Chief Executive, Karma Automotive. “The Eximius program effectively deletes the word ‘no’ from conversations about what’s possible,” he continues, “and as a four-seat track weapon packing what’ll be the most powerful Plug-in Series Hybrid powertrain and vehicle ever developed, ‘Eximius 1’ shatters expectations and further establishes Karma as a manufacturer of exotic, uniquely American vehicles.” 

Exterior Design
“Eximius 1” is an imposing vehicle to behold, exhibiting the muscularity and eyepopping strength of a superhero. Every panel – excluding the body surface outer – is constructed of pre-impregnated carbon fiber, and the vehicle is 50mm wider due to its wheel arch extensions. The front doors and hood have a unique technical fade from glossy, exposed regular carbon fiber to signature Borealis Blue paint.

The front carbon splitter sets an aggressive tone and is flanked by massive side air intakes incorporating Karma’s Target Acquisition Lighting, rotated 45º to create a distinctive ‘><‘ DRL graphic identity. On the hood, the dramatic arc of the Comet Line – which is inspired by Halley’s Comet is it streaks across the evening sky – widens from its apex towards the base of the windshield; vents above the front fenders release air pressure from the wheel housings and add further visual intrigue. Moving to the side of the vehicle, the front fenders aft of the wheels feature Karma’s signature “Backslash” bearing the number “5,” which is of particular significance to the commissioning client. 21″ Magnesium wheels with center-locks reduce rotating and unsprung mass, and are finished in satin black. Aft of the driver’s side front wheel, twin exhaust tips announce the fearsome new powertrain.

The full-width rear GT wing maximizes stability and downforce at high speeds, and continues the distinctive ‘><‘ DRL graphic identity established at the front of “Eximius 1.” The rear fascia also boasts large side air intakes which are connected by a dominant diffuser to manage underbody airflow.

Interior Design
An aura of intensity continues to the interior of “Eximius 1.” In concert with the exterior, blue-tinted carbon-fiber adorns the seats, flat-bottom steering wheel and doors; for aesthetics and weight-savings, all four doors are manufactured in exposed carbon fiber with one purposeful arm pad on each door. The seats, which are Recaro carbon fiber buckets up front, are trimmed with blue Alcantara and blue Italian leather with Moondust Alcantara upper sections, creating an articulated, form-fitted feel. To support high-speed driving and intense braking force, the accelerator, brake pedal and dead pedal are billet machined aluminum.

The instrument panel is reimagined in glossy carbon fiber and incorporates anodized billet aluminum HVAC vents. The carbon fiber center console is simplified to include the essentials only: the PRND gear selector, window switches, key fob holder, and Emergency kill switch. This console extends through to the rear compartment, to which the client’s custom-fitted carbon fiber racing helmet is held in place by a center-latched strap matching the blue seat belts.

About Karma Automotive
Karma Automotive is America’s only full-line ultra-luxury vehicle manufacturer, and a pioneer of Plug-in Series Hybrid vehicles which it manufactures at its Karma Innovation and Customization Center (KICC) in Moreno Valley, CA. Its Executive, Product Development, and Design headquarters are located in nearby Irvine, CA. The Karma portfolio embodies California’s spirit of innovation and entrepreneurial boldness, reflected by the signature Comet Line which is the central hallmark of Karma’s new design language. The Gyesera Grand Coupe, a Plug-in Series Hybrid four-seater, arrives at dealerships in December 2026; and the Amaris GT 2-Door Plug-in Series Hybrid arrives in Q4 2027. The Karma Kaveya Super Coupe, with over 1,000HP and butterfly-doors, will arrive in Q1 2028, to be followed by the Karma Ivara GT-UV: both EVs will incorporate SDVA (Software-Defined Vehicle Architecture) developed with leading technology partners. For more information, visit www.karmaautomotive.com) 

Media Contact:

Joe Richardson, (917) 716-6617
Joe@BeautifulNoisePR.com 

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SOURCE Karma Automotive

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