Mobvista (01860.HK) saw its stock price surge 8.53% during Tuesday's market opening, following the release of its impressive 2024 annual results. The mobile technology company reported significant growth across key financial metrics, demonstrating its strong market position and successful business strategies.

According to the financial report released on March 31, Mobvista's revenue for the year ending December 31, 2024, increased by 43.0% year-over-year to $1.51 billion. The company's net revenue rose 40.4% to $398.9 million, while gross profit showed a substantial growth of 45.6%, reaching $316.3 million. These figures highlight Mobvista's ability to expand its business while maintaining profitability in the competitive mobile advertising and analytics market.

A key driver of Mobvista's success was its programmatic interactive advertising platform, Mintegral, which generated 95.7% of the company's total revenue at $1.44 billion, representing a 47.2% year-over-year increase. The platform's machine learning and AI-based smart bidding system, launched in 2021, has significantly boosted advertising efficiency and now contributes over 70% of Mintegral's revenue. Additionally, Mobvista reported strong growth in both gaming and non-gaming categories, with non-gaming apps revenue surging by 82.0% to $403.3 million, increasing its revenue share to 27.9%. These results demonstrate Mobvista's successful expansion and diversification strategies, likely contributing to investor confidence and the subsequent stock price increase.