The stock of Yalla Group Limited (YALA) closed the recent trading session at $3.7 and plummeted 15.33% from the previous trading session. On the last check, the YALA stock soared in the after-market, gaining 2.97% to $3.81. The company released the non-verified fiscal performance for Q4 and FY21. Also, YALA declared its chairperson to be named as the personality of the year by Emirati Magzine.
On 3 February 2022, the company declared that the chairperson of YALA, Saifi Ismail, was named MENA’s leading person of the year. Mr. Ismail was respected for his remarkable commitments to the digitalization of amusement and interpersonal communication. He commented that he wants to stretch out his earnest appreciation to the settling board for this renowned honor. He further added that Yalla is happy to be a driver of development and wellspring of innovativeness as they advance the improvement of the digital world in the area.
Moreover, in January 2022, YALA stated that the lead offended parties in a securities legal claim against the firm, and its CEO intentionally excused the claim. This denotes an effective finish of the claim for the firm. The claim emerged from specific short-seller reports that contained various blunders as well as mutilated, misdirecting, and unconfirmed cases regarding the organization. The organization was addressed by George Wang and Bryan Jin of Simpson Thacher and Bartlett LLP.
Besides, YALA also published the fiscal performance for Q4 and FY21. The key points are
- The total sales of the company in Q4 of FY21 expanded by 39.7%. Total sales were $67.5 million versus $48.3 million in Q4 of FY20. Also, total sales for FY21 increased by 102.4% to $273.1 million compared to $134.9 million in FY2020.
- Moreover, the total income grew by 111.7%. In Q4 of FY21 total income was $19.05 million against $8.9 million in the same year-ago period. Further, the total income for FY21 was $82.5 million versus $3.2 million in FY20.
- Besides, the EPS for Q4 of FY21 was $0.11 against $0.06 in Q4 of FY20.
Yalla Group Ltd. is a holding organization, which participates in the advancement of voice-driven informal communication and entertainment stage. The company has a market capitalization of $532.54 million. YALA has its headquarter in Dubai, United Arab Emirates (UAE).