"Paid Content Revenue grew 2.3% on a constant currency basis, supported by corresponding MPU and ARPU increases. Advertising Revenue grew 0.8% yearly on a constant currency basis, with Korean ad revenue down from Naver but offset by gains from other partners. IP Adaptations Revenue declined 22.2% year over year on a constant currency basis, with management referencing milestone-based variability in recognition."
Revenue totaled $320.9 million, down 1.5% year over year, but up 0.2% on a constant currency basis. Paid content and advertising growth offset a decline in IP adaptations revenue. Gross margin expanded to 25.9%, increasing by 390 basis points, supported by cross-border content distribution and higher-margin advertising growth. Net loss narrowed to $8.8 million from $22 million, primarily due to improved gross profit. Adjusted EBITDA rose to $9.5 million, up 132% year over year and above the high end of prior guidance. Adjusted EPS increased to $0.07 from $0.03. Global MAU declined 5.9% due to a new methodology excluding automated traffic and bot accounts, while app MPU increased 2.2%.
Read at The Motley Fool
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