Technology
Yalla Group Limited Announces Unaudited Second Quarter 2024 Financial Results
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2 years agoon
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DUBAI, UAE, Aug. 12, 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 second quarter ended June 30, 2024.
Second Quarter 2024 Financial and Operating Highlights
Revenues were US$81.2 million in the second quarter of 2024, representing an increase of 2.5% from the second quarter of 2023.Revenues generated from chatting services in the second quarter of 2024 were US$54.9 million.Revenues generated from games services in the second quarter of 2024 were US$26.2 million.Net income was US$31.4 million in the second quarter of 2024, a 10.9% increase from US$28.3 million in the second quarter of 2023. Net margin1 was 38.6% in the second quarter of 2024.Non-GAAP net income2 was US$35.2 million in the second quarter of 2024, a 4.4% increase from US$33.8 million in the second quarter of 2023. Non-GAAP net margin3 was 43.4% in the second quarter of 2024.Average MAUs4 increased by 14.1% to 39.0 million in the second quarter of 2024 from 34.2 million in the second quarter of 2023.The number of paying users5 on our platform decreased by 10.3% to 12.0 million in the second quarter of 2024 from 13.4 million in the second 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 and 101 Okey Yalla have been our main mobile applications for the periods presented herein; WeMuslim has been our main mobile application since the second quarter of 2023; 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 and WeMuslim do not involve the usage of virtual currencies, and the metrics of “paying users” and “ARPPU” do not reflect user activities on YallaChat and WeMuslim. “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
June 30, 2023
June 30, 2024
Average MAUs (in thousands)
34,192
38,999
Paying users (in thousands)
13,402
12,023
“We delivered another solid set of results for the second quarter of 2024, led by total revenues of US$81.2 million, exceeding the top end of our guidance despite the impact of the Ramadan holiday,” said Mr. Yang Tao, Founder, Chairman and CEO of Yalla. “This strong performance was supported by our success in enhancing operational procedures, optimizing technology utilization to improve efficiency, boosting user engagement and refining our user acquisition strategies, which drove a 14.1% year-over-year increase in average MAUs to 39.0 million for the second quarter.
“We recently celebrated the 8th anniversary of Yalla, our group’s first product, which has evolved into the world’s most downloaded voice chat app,6 boasting a highly engaged and loyal user community. On the operational front, we continued to deepen local gamers’ engagement with our products and enhanced our brand influence through numerous exciting online and offline events. Since the end of last year, we have hosted online and offline Yalla Ludo tournaments across different cities in MENA with our esteemed local and international partners, engaging with millions of players. As the largest MENA-based online social networking and gaming company, we remain dedicated to delivering tailored experiences that enrich our users’ lives while contributing to the Middle East’s vibrant digital landscape,” Mr. Yang concluded.
Ms. Karen Hu, CFO of Yalla, commented, “We were pleased to sustain our year-over-year revenue growth momentum in the second quarter as we strove for high-quality development and user growth. Our constant efforts to enhance operating efficiency continued to yield positive results, elevating our net margin to 38.6% in the second quarter of 2024. Moving forward, we will continue to execute our high-quality growth strategy, leveraging our solid business fundamentals to capture new business opportunities and deliver long-term, sustainable value to all our stakeholders.”
Second Quarter 2024 Financial Results
Revenues
Our revenues were US$81.2 million in the second quarter of 2024, a 2.5% increase from US$79.2 million in the second quarter of 2023. The increase was primarily driven by our broadening user base and enhanced monetization capability. Our average MAUs increased by 14.1% from 34.2 million in the second quarter of 2023 to 39.0 million in the second quarter of 2024. Our solid revenue growth was also partially attributable to the significant increase in ARPPU,7 which grew from US$5.8 in the second quarter of 2023 to US$6.6 in the second quarter of 2024.
In the second quarter of 2024, our revenues generated from chatting services were US$54.9 million, and revenues from games services were US$26.2 million.
Costs and expenses
Our total costs and expenses were US$51.6 million in the second quarter of 2024, a 6.8% decrease from US$55.3 million in the second quarter of 2023.
Our cost of revenues was US$29.0 million in the second quarter of 2024, a 2.5% increase from US$28.3 million in the same period last year, primarily due to higher commission fees paid to third-party payment platforms as a result of increasing revenue generated. Cost of revenues as a percentage of our total revenues remained relatively stable at 35.7% in the second quarter of 2024.
Our selling and marketing expenses were US$8.5 million in the second quarter of 2024, a 31.4% decrease from US$12.4 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 from 15.6% in the second quarter of 2023 to 10.5% in the second quarter of 2024.
Our general and administrative expenses were US$7.6 million in the second quarter of 2024, a 5.5% decrease from US$8.0 million in the same period last year, primarily driven by lower share-based compensation expenses recognized in the second quarter of 2024. General and administrative expenses as a percentage of our total revenues decreased from 10.1% in the second quarter of 2023 to 9.3% in the second quarter of 2024.
Our technology and product development expenses were US$6.5 million in the second quarter of 2024, a 1.6% decrease from US$6.6 million in the same period of last year, primarily driven by lower share-based compensation expenses recognized in the second quarter of 2024. Technology and product development expenses as a percentage of our total revenues decreased from 8.3% in the second quarter of 2023 to 8.0% in the second quarter of 2024.
Operating income
Operating income was US$29.6 million in the second quarter of 2024, a 23.8% increase from US$23.9 million in the second quarter of 2023.
Non-GAAP operating income8
Non-GAAP operating income in the second quarter of 2024 was US$33.5 million, a 13.9% increase from US$29.4 million in the same period last year.
Interest income
Interest income was US$7.1 million in the second quarter of 2024, compared with US$4.6 million in the second 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$5.79 million in the second quarter of 2024, compared with US$0.82 million in the second 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$31.4 million in the second quarter of 2024, a 10.9% increase from US$28.3 million in the second quarter of 2023.
Non-GAAP net income
Non-GAAP net income in the second quarter of 2024 was US$35.2 million, a 4.4% increase from US$33.8 million in the same period last year.
Earnings per ordinary share
Basic and diluted earnings per ordinary share were US$0.20 and US$0.17, respectively, in the second quarter of 2024, while basic and diluted earnings per ordinary share were US$0.19 and US$0.16, respectively, in the same period of 2023.
Non-GAAP earnings per ordinary share9
Non-GAAP basic and diluted earnings per ordinary share were US$0.22 and US$0.19, respectively, in the second quarter of 2024, compared with US$0.22 and US$0.19, respectively, in the same period of 2023.
Cash and cash equivalents, restricted cash, term deposits and short-term investments
As of June 30, 2024, we had cash and cash equivalents, restricted cash, term deposits and short-term investments of US$528.7 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, the Company had completed cash repurchases in the open market of 3,972,876 American depositary shares (“ADSs”), representing 3,972,876 Class A ordinary shares, for an aggregate amount of approximately US$35.5 million, as of June 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$114.5 million as of June 30, 2024.
Outlook
For the third quarter of 2024, Yalla currently expects revenues to be between US$75.0 million and US$82.0 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 According to data.ai’s research, by downloads in 2023
7 “ARPPU” refers to average revenues per paying user in a given period, which is calculated by dividing (i) revenues for such period, by (ii) the number of paying users for such period. When calculating the ARPPU, we include revenues generated from Yalla, Yalla Ludo, Yalla Parchis, 101 Okey Yalla and Ludo Royal (since the third quarter of 2023) in a given period.
8 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.
9 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, August 12, 2024, at 8:00 PM U.S. Eastern Time, Tuesday, August 13, 2024, at 4:00 AM Dubai Time, or Tuesday, August 13, 2024, at 8:00 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:
4890168
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 August 19, 2024, by dialing the following telephone numbers:
United States Toll Free:
+1-877-344-7529
International:
+1-412-317-0088
Access Code:
6123926
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 revenue 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
June 30,
2024
US$
US$
ASSETS
Current assets
Cash and cash equivalents
311,883,463
289,553,961
Restricted cash
423,567
420,946
Term deposits
213,105,501
230,749,436
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
36,904,158
Total current assets
569,144,969
565,628,501
Non-current assets
Property and equipment, net
1,583,604
1,415,128
Intangible asset, net
1,133,715
1,014,122
Operating lease right-of-use assets
2,382,026
1,837,703
Long-term investments
51,692,218
132,293,265
Other assets
13,015,729
12,935,189
Total non-current assets
69,807,292
149,495,407
Total assets
638,952,261
715,123,908
LIABILITIES
Current liabilities
Accounts payable
928,055
858,983
Deferred revenue
46,558,571
54,175,880
Operating lease liabilities, current
1,153,691
1,070,626
Amounts due to a related party
—
108,867
Accrued expenses and other current liabilities
26,694,999
25,128,214
Total current liabilities
75,335,316
81,342,570
Non-current liabilities
Operating lease liabilities, non-current
949,970
468,972
Total non-current liabilities
949,970
468,972
Total liabilities
76,285,286
81,811,542
EQUITY
Shareholders’ equity of Yalla Group Limited
Class A Ordinary Shares
13,778
13,910
Class B Ordinary Shares
2,473
2,473
Additional paid-in capital
313,306,523
321,783,768
Treasury stock
(35,527,305)
(35,527,305)
Accumulated other comprehensive loss
(2,341,740)
(2,613,364)
Retained earnings
292,223,525
355,461,482
Total shareholders’ equity of Yalla Group Limited
567,677,254
639,120,964
Non-controlling interests
(5,010,279)
(5,808,598)
Total equity
562,666,975
633,312,366
Total liabilities and equity
638,952,261
715,123,908
YALLA GROUP LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS
Three Months Ended
Six Months Ended
June 30,
2023
March 31,
2024
June 30,
2024
June 30,
2023
June 30,
2024
US$
US$
US$
US$
US$
Revenues
79,246,363
78,728,578
81,197,482
152,764,976
159,926,060
Costs and expenses
Cost of revenues
(28,330,815)
(28,571,261)
(29,025,673)
(56,183,292)
(57,596,934)
Selling and marketing expenses
(12,378,490)
(8,099,936)
(8,491,520)
(23,733,465)
(16,591,456)
General and administrative expenses
(8,018,573)
(6,647,892)
(7,576,904)
(18,182,967)
(14,224,796)
Technology and product development expenses
(6,586,078)
(6,262,254)
(6,481,616)
(13,997,266)
(12,743,870)
Total costs and expenses
(55,313,956)
(49,581,343)
(51,575,713)
(112,096,990)
(101,157,056)
Operating income
23,932,407
29,147,235
29,621,769
40,667,986
58,769,004
Interest income
4,623,275
6,644,884
7,097,975
7,741,564
13,742,859
Government grants
4,560
67,332
365,031
182,219
432,363
Investment income (loss)
529,308
(1,288,127)
60,233
1,021,197
(1,227,894)
Income before income taxes
29,089,550
34,571,324
37,145,008
49,612,966
71,716,332
Income tax expense
(821,149)
(3,483,208)
(5,793,582)
(1,437,507)
(9,276,790)
Net income
28,268,401
31,088,116
31,351,426
48,175,459
62,439,542
Net loss attributable to non-controlling interests
1,202,160
505,987
292,428
1,756,751
798,415
Net income attributable to Yalla Group
Limited’s shareholders
29,470,561
31,594,103
31,643,854
49,932,210
63,237,957
Earnings per ordinary share
——Basic
0.19
0.20
0.20
0.32
0.39
——Diluted
0.16
0.17
0.17
0.28
0.34
Weighted average number of shares
outstanding used in computing earnings
per ordinary share
——Basic
158,871,859
160,379,455
160,721,827
158,424,104
160,550,641
——Diluted
180,752,549
183,260,168
183,535,654
180,635,132
183,397,911
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
Six Months Ended
June 30,
2023
March 31,
2024
June 30,
2024
June 30,
2023
June 30,
2024
US$
US$
US$
US$
US$
Cost of revenues
923,513
1,902,717
1,867,863
1,953,762
3,770,580
Selling and marketing expenses
1,014,371
700,115
681,035
1,985,706
1,381,150
General and administrative expenses
3,242,981
1,333,314
1,321,200
6,488,259
2,654,514
Technology and product development expenses
315,173
262,731
19,198
664,450
281,929
Total share-based compensation expenses
5,496,038
4,198,877
3,889,296
11,092,177
8,088,173
YALLA GROUP LIMITED
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
Three Months Ended
Six Months Ended
June 30,
2023
March 31,
2024
June 30,
2024
June 30,
2023
June 30,
2024
US$
US$
US$
US$
US$
Operating income
23,932,407
29,147,235
29,621,769
40,667,986
58,769,004
Share-based compensation expenses
5,496,038
4,198,877
3,889,296
11,092,177
8,088,173
Non-GAAP operating income
29,428,445
33,346,112
33,511,065
51,760,163
66,857,177
Net income
28,268,401
31,088,116
31,351,426
48,175,459
62,439,542
Share-based compensation expenses,
net of tax effect of nil
5,496,038
4,198,877
3,889,296
11,092,177
8,088,173
Non-GAAP net income
33,764,439
35,286,993
35,240,722
59,267,636
70,527,715
Net income attributable to Yalla
Group Limited’s shareholders
29,470,561
31,594,103
31,643,854
49,932,210
63,237,957
Share-based compensation expenses,
net of tax effect of nil
5,496,038
4,198,877
3,889,296
11,092,177
8,088,173
Non-GAAP net income attributable to
Yalla Group Limited’s shareholders
34,966,599
35,792,980
35,533,150
61,024,387
71,326,130
Non-GAAP earnings per ordinary share
——Basic
0.22
0.22
0.22
0.39
0.44
——Diluted
0.19
0.20
0.19
0.34
0.39
Weighted average number of shares
outstanding used in computing earnings
per ordinary share
——Basic
158,871,859
160,379,455
160,721,827
158,424,104
160,550,641
——Diluted
180,752,549
183,260,168
183,535,654
180,635,132
183,397,911
View original content:https://www.prnewswire.com/news-releases/yalla-group-limited-announces-unaudited-second-quarter-2024-financial-results-302219813.html
SOURCE Yalla Group Limited
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Integration, Compliance, and System Connectivity
QuickBooks is designed to integrate with a range of business tools commonly used by UK organisations. These include payroll systems, customer relationship management platforms, and other operational software. This level of connectivity helps ensure that financial data remains consistent across systems.
Compliance is also a core part of the platform’s structure. UK businesses must meet specific regulatory requirements, including VAT reporting and Making Tax Digital standards. QuickBooks includes features that support these obligations within the system, reducing the need for manual compliance processes.
By aligning financial reporting with regulatory standards, the platform helps organisations maintain accurate records while reducing the administrative burden associated with tax and compliance requirements.
Operational Impact and Long-Term Financial Structure
As businesses grow, financial systems often become central to overall operational structure. Decisions related to hiring, investment, and expansion rely on access to accurate and timely financial data. Systems that lack integration or real-time visibility can slow decision-making and introduce inefficiencies.
QuickBooks supports a more structured approach by centralising financial information. This reduces fragmentation and helps ensure consistency across the organisation. It also supports continuity, minimising the need for frequent system changes as businesses scale.
The platform is designed to adapt to increasing complexity over time. As transaction volumes grow and reporting requirements expand, it remains stable while accommodating additional users and workflows.
This approach aligns with the needs of medium-sized businesses transitioning from smaller-scale operations to more advanced financial environments.
Market Context and Financial Management Trends
The recognition of QuickBooks reflects broader developments in financial technology adoption among UK medium-sized businesses. Organisations are increasingly prioritising systems that improve efficiency while reducing operational complexity.
Financial management is no longer limited to recordkeeping. It has become a core business function that influences strategic planning and overall performance. As a result, platforms that provide integrated financial oversight are becoming more relevant across a wide range of industries.
QuickBooks fits within this shift by offering a system that combines core accounting functionality with workflow automation and reporting capabilities. This supports businesses that require both day-to-day financial management and longer-term planning tools.
The emphasis on scalability also reflects changing expectations in the mid-market sector. Businesses are seeking platforms that can grow with them, rather than systems that need to be replaced as operational requirements evolve.
Conclusion
Consumer365 has recognised QuickBooks as a relevant financial platform for medium-sized businesses operating in the UK in 2026. The recognition highlights its focus on scalability, financial visibility, and structured operational control.
The platform is positioned to support organisations as they move beyond basic accounting systems and adopt more integrated financial management structures. Its emphasis on automation, compliance support, and system connectivity aligns with the operational needs of growing businesses.
As financial complexity continues to increase across the mid-market sector, tools that centralise financial data and support real-time decision-making are becoming more widely adopted. QuickBooks represents one of the platforms contributing to this shift towards more structured financial management approaches.
To read the full review, please visit the Consumer365 website.
About Intuit
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services.
About Consumer365.org: Consumer365 provides consumer news and industry insights. As an affiliate, Consumer365 may earn commissions from sales generated using links provided.
Disclaimer
Where AI content is used: This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing decision. Additional terms, conditions and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, functionality are subject to change without notice.
General content disclaimer: This information is provided free of charge and is intended to be helpful to a wide range of businesses. Because of its general nature the information cannot be taken as comprehensive and they do not constitute and should never be used as a substitute for legal, accounting, tax or professional advice. Intuit cannot guarantee that the information applies to the individual circumstances of your business. Despite our best efforts it is possible that some information may be out of date.
Any reliance you place on information found on this site or linked to on other websites will be at your own risk. You should consider seeking the advice of independent advisers and should always check your decisions against your normal business methods and best practice in your field of business.
SOURCE Consumer365.org
Technology
BOE continues to launch new products and solutions in the field of high-end displays
Published
8 hours agoon
May 9, 2026By
LOS ANGELES, May 9, 2026 /PRNewswire/ —
1、Redefine Visual Experience with Scientific Standards! BOE Releases Core Research Findings on OLED Display Clarity-Legibility Index, Paving the Way for the Industry’s First Transparent Pro Standard to Deliver Supreme Visual Experience
With the rapid popularization of OLED display technology, basic screen indicators including resolution, color gamut and brightness keep improving. Meanwhile, display transparency — a core experience metric that determines visual comfort , image authenticity and premium visual quality — has drawn growing attention across the industry.
Recently, BOE has empowered the launch of the industry’s first flagship high-transparency OLED display panel, setting an industry-leading benchmark in four key dimensions: color, depth , clarity and dynamic range. It ushers high-end display into a new era, shifting from purely numerical technical specifications to ultimate user-centric visual experience.
In addition, BOE officially unveiled its in-depth research achievements on OLED display transparency. It has identified the core underlying factors affecting visual transparency through scientific research, pioneered the industry’s first display transparency index formula, and facilitated the release of the first authoritative evaluation standard for OLED display transparency. This marks an industry’s transformation from specs-oriented to experience-driven development. This marks a full-process breakthrough covering underlying technical analysis, scientifically guided image quality development and mass production application.
At present, the group standard 《Standard of Associations Organic light emitting diode display —Evaluation method for display clarity》, led and formulated by BOE based on relevant research outcomes, has been officially issued. As the world’s first dedicated evaluation standard focusing on OLED display transparency, it fills the long-standing industry gap in correlating subjective visual perception with objective image quality parameters.
Leveraging this standard and transparency research results, BOE has assisted partners in developing the industry’s first flagship high-transparency OLED screen. The company has built a comprehensive technical system for OLED visual transparency. Supported by cutting-edge technologies such as tandem, LTPO and high-precision Demura crosstalk optimization algorithms, BOE and its partners have carried out full-link optimization from display panels to end devices.
Going forward, BOE will continue to deepen research on display human factors engineering and visual experience. Through technological innovation and standard leadership, it will bring more ultimate, high-transparency premium display experiences to users worldwide.
2、BOE Beneficial “Natural” Light Technology (BNL): Solving Visual Health Pain Points and Leading the Display Industry Trend
In an era of ubiquitous displays, users are spending increasingly longer hours on screens. Nevertheless, the luminous properties of conventional displays poorly align with the human visual system, sparking widespread consumer concerns over visual health. To address such challenges, BOE draws inspiration from natural light. By deeply analyzing natural light and extracting beneficial features highly consistent with health and comfort, BOE established the Beneficial “Natural” Light Technology (BNL) architecture. Evolving from single technical upgrades to a systematic solution, BNL replicates the merits of natural light across four core dimensions: Depolarization Adjustment, Spectrum Optimization, Light Profile Optimization and Time-varying Adaptation, advancing display technology toward healthy viewing.
BNL & Visual Health
Depolarization Adjustment: The linearly polarized light of traditional displays causes targeted stimulation to retinal lutein, resulting in dry eyes, eyelid redness and other discomforts. Based on the mainstream Circular Polarization (QWP) solution, BOE BNL has developed a series of technologies like BSF/RDF Random Depolarization technology and un-Polarization,which convert linearly polarized light into randomly polarized light, enabling balanced lutein utilization across the entire visual field, and deliver natural-light-level eye protection.
Spectrum Optimization: Conventional narrow-band RGB spectra feature poor continuity and imbalanced energy distribution, with excessive high-energy blue light that induces eye strain and increases risks of macular damage. Beyond Low Blue Light solutions, BOE BNL has developed Natural-like Spectrum, Beneficial Red Light, Infrared Light and Circadian Rhythm technologies. Multiple clinical studies have verified that Beneficial Red Light and Infrared Light can effectively inhibit axial elongation and accelerate eye microcirculation. BOE takes the lead in integrating such optics into displays,achieving a spectral distribution matching degree of over 60%, an energy ratio of Beneficial Red Light (650–670 nm) exceeding 50%, and independent on/off switching and energy adjustment of Infrared Light. Meanwhile, Circadian Rhythm technology regulates melatonin secretion to safeguard sleep quality. Shifting from passive harm reduction to active eye benefits, BOE BNL delivers all-round visual health protection.
Light Profile Optimization: Conventional screens are prone to surface reflection and glare, which interfere with visual recognition and cause cumulative eye fatigue. Powered by industry-leading Anti-Glare, Low Reflection and Wide Viewing Angle technologies, BOE BNL accurately simulates the diffuse reflection of natural light to deliver consistent visual comfort across diverse viewing angles. For instance, BOE UB Cell technology achieves a DGR value below 5 with negligible glare and reflection, ensuring sustained visual comfort.
Time-varying Adaptation: Conventional displays tend to produce low-frequency flicker and fixed brightness and color temperature that fail to adapt to ambient changes, forcing frequent eye muscle adjustments and leading to discomfort. By adopting Flicker Free and Light Self-adaptive technologies, BOE BNL delivers stable, ultra-smooth visuals that replicate the comfort of natural light.
SID 2026: BOE Launches New BNL Display Products
At SID Display Week 2026, BOE launched new BNL health display products. The highlight product is the industry’s first 13.8-inch BNL health display tablet. It integrates all four core dimensions,supported by 7 core BNL technologies, to deliver a healthy and comfortable visual experience.
As a global leader in the display industry, BOE has led the development and officially issued the world’s first “Natural Light” display standard via the Zhongguancun Standardization Association,and has jointly issued the White Paper on Natural Light Display Technologies (Engineering Considerations, Application Value and Challenges) with TÜV Rheinland to drive standardized and high-quality industrial development. In the future, BOE will continue to iterate on technologies, diversify product forms and application scenarios, advance the grading standards for Beneficial “Natural” Light displays, and protect users’ visual health.
View original content to download multimedia:https://www.prnewswire.com/news-releases/boe-continues-to-launch-new-products-and-solutions-in-the-field-of-high-end-displays-302767491.html
SOURCE BOE Technology Group Co., Ltd.
Technology
BitradeX BXC First Two Subscription Rounds Sell Out, Total Subscriptions Exceed 14M USDT
Published
11 hours agoon
May 9, 2026By
LONDON, May 9, 2026 /PRNewswire/ — BitradeX Capital’s ecosystem equity token, BXC, has completed its first and second subscription rounds, selling a total of 50 million BXC with subscriptions exceeding 14 million USDT. The first round sold out in 90 seconds, while the second closed within 48 hours.
While the fundraising size is not unusually large by crypto standards, the structure of the sale has attracted market attention. The first two rounds were not open to the public, but limited to high-tier BitradeX users. The first round was available only to V5 users and above, while the second round expanded access to V3 users and above.
According to BitradeX’s tier system, V3+ users typically have higher recurring investment activity through AiBot, longer platform usage history, and stronger ecosystem participation. This means the early BXC allocation was absorbed mainly by the platform’s internal high-value user base, rather than short-term speculative participants.
This approach differs from many token fundraising campaigns that prioritize broad public participation and market hype. BitradeX instead adopted a more selective, staged model, gradually lowering the participation threshold while keeping the sale within its active ecosystem community.
BXC is positioned as more than a standard platform token. Its value framework is linked to BitradeX Capital’s broader ecosystem, including its exchange business, AiBot quantitative strategies, BTX Card payments, and Labs incubation platform. Public information indicates that BXC holders may receive staking rewards, benefit from ecosystem buybacks and burns, and gain priority access to Launchpad projects and governance participation.
The third subscription round is launched on April 30 at $0.35 USDT per BXC, with a total supply of 100 million BXC. It is now open to users participating in AiBot recurring investment. The fourth round price is expected to rise to $0.45 USDT.
The long-term value of BXC will ultimately depend on the growth of BitradeX’s underlying businesses, including exchange profitability, AiBot user expansion, and BTX Card adoption. However, the rapid sellout of the first two rounds suggests that BitradeX’s core user base has already shown strong confidence in the ecosystem’s future.
View original content:https://www.prnewswire.com/news-releases/bitradex-bxc-first-two-subscription-rounds-sell-out-total-subscriptions-exceed-14m-usdt-302767467.html
SOURCE BitradeX Capital
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