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Yalla Group Limited Announces Unaudited Fourth Quarter and Full Year 2025 Financial Results

DUBAI, UAE, March 10, 2026 /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 fourth quarter and full year ended December 31, 2025.

Fourth Quarter 2025 Financial and Operating Highlights

  • Revenues were US$83.9 million in the fourth quarter of 2025, compared with US$90.8 million in the fourth quarter of 2024.
    • Revenues generated from chatting services in the fourth quarter of 2025 were US$53.8 million.
    • Revenues generated from games services in the fourth quarter of 2025 were US$29.5 million.
  • Net income was US$34.5 million in the fourth quarter of 2025, a 6.2% increase from US$32.5 million in the fourth quarter of 2024. Net margin[1] was 41.2% in the fourth quarter of 2025.
  • Non-GAAP net income[2] was US$36.9 million in the fourth quarter of 2025, a 3.2% increase from US$35.7 million in the fourth quarter of 2024. Non-GAAP net margin[3] was 43.9% in the fourth quarter of 2025.
  • Average MAUs[4] increased by 8.2% to 44.8 million in the fourth quarter of 2025, from 41.4 million in the fourth quarter of 2024.
  • The number of paying users[5] was 10.4 million in the fourth quarter of 2025, compared with 12.3 million in the fourth quarter of 2024.

Key Operating Data

For the three months ended

December 31, 2024

December 31, 2025

Average MAUs (in thousands)

41,445

44,848

Paying users (in thousands)

12,309

10,444

 

[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.

[5] “Paying users” refers to registered users who played a game or purchased our virtual items or upgraded 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. “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.

Full Year 2025 Highlights

  • Revenues were US$341.9 million in 2025, representing an increase of 0.7% from 2024.
    • Revenues generated from chatting services in 2025 were US$216.4 million.
    • Revenues generated from games services in 2025 were US$124.0 million.
  • Net income was US$148.1 million in 2025, a 10.4% increase from US$134.2 million in 2024. Net margin was 43.3% in 2025.
  • Non-GAAP net income was US$158.5 million in 2025, a 6.5% increase from US$148.8 million in 2024. Non-GAAP net margin was 46.3% in 2025.

“We delivered solid 2025 results, with full-year revenues rising to US$341.9 million and net income up 10.4% to US$148.1 million,” said Mr. Tao Yang, Founder, Chairman and CEO of Yalla. “Strong execution across our product ecosystem drove increased user engagement, underscored by an 8.2% year-over-year increase in MAUs to 44.8 million in the fourth quarter of 2025. Additionally, revenues from games services started to accelerate, delivering a year-over-year increase of 9.1% for the full year thanks to our dedication to gaming innovation and effective marketing campaigns. Our first match-3 game Turbo Match is now available and gathering positive user reviews, and our desert-themed SLG title is set for official promotion in the second quarter of 2026, strengthening our position to tap new user cohorts.

“Meanwhile, we deepened AI integration across our ecosystem, boosting operational efficiency and accelerating our product innovation and localization efforts. We also continued to strengthen our presence in Saudi Arabia as part of our regional growth strategy, establishing a partnership with the Saudi Esports Federation to support the Saudi eLeague 2026 and local talent programs. Looking ahead, we will continue to unlock deeper synergies between our social and gaming ecosystems while building our technological capabilities and product pipeline to strengthen our industry leadership in the rapidly growing MENA market and drive sustainable long-term growth.”

Ms. Karen Hu, CFO of Yalla, commented, “In the fourth quarter, we continued to focus on efficiency enhancement to strengthen profitability. Our net income increased by 6.2% year-over-year to US$34.5 million with a net margin of 41.2%, up 5.4 percentage points year-over-year. For the full year, we delivered both top-line and bottom-line growth through strong strategic execution and effective cost control. Our solid balance sheet and healthy cash flow position us to continue returning value to shareholders, highlighted by US$56.6 million returned in 2025 through our share repurchase program and the launch of a new share repurchase program for up to US$150 million over the next 24 months starting March 9,2026. Moving forward, we will continue to invest in long-term opportunities that propel high-quality growth, maximizing value for all stakeholders.”

Fourth Quarter 2025 Financial Results

Revenues                                                                                                      

Revenues were US$83.9 million in the fourth quarter of 2025, compared with US$90.8 million in the fourth quarter of 2024. The decrease was primarily due to a decrease in paying users as a result of fewer promotion events held by third-party payment platforms in the fourth quarter of 2025 compared with those held in the fourth quarter of 2024.

In the fourth quarter of 2025, revenues generated from chatting services were US$53.8 million, and revenues from games services were US$29.5 million.

Costs and expenses

Total costs and expenses were US$57.2 million in the fourth quarter of 2025, a 5.7% decrease from US$60.7 million in the fourth quarter of 2024.

Cost of revenues was US$26.3 million in the fourth quarter of 2025, a 15.1% decrease from US$31.0 million in the fourth quarter of 2024, primarily due to lower commission fees paid to third-party payment platforms as a result of diversified payment channels. Cost of revenues as a percentage of total revenues decreased to 31.4% in the fourth quarter of 2025 from 34.2% in the fourth quarter of 2024.

Selling and marketing expenses were US$9.4 million in the fourth quarter of 2025, a 26.5% increase from US$7.4 million in the fourth quarter of 2024, primarily due to higher advertising and market promotion expenses attributable to the Company’s continued user acquisition efforts and expanding product portfolio. Selling and marketing expenses as a percentage of total revenues increased to 11.2% in the fourth quarter of 2025 from 8.2% in the fourth quarter of 2024.

General and administrative expenses were US$12.1 million in the fourth quarter of 2025, a 7.8% decrease from US$13.1 million in the fourth quarter of 2024, primarily due to a decrease in incentive compensation. General and administrative expenses as a percentage of total revenues was flat at 14.4% in the fourth quarter of 2025 compared with the fourth quarter of 2024.

Technology and product development expenses were US$9.5 million in the fourth quarter of 2025, a 3.2% increase from US$9.2 million in the fourth quarter of 2024, primarily due to an increase in salaries and benefits for our technology and product development staff, driven by an increase in the headcount to support the development of new businesses and expansion of our product portfolio. Technology and product development expenses as a percentage of total revenues increased to 11.3% in the fourth quarter of 2025 from 10.1% in the fourth quarter of 2024.

Operating income

Operating income was US$26.6 million in the fourth quarter of 2025, compared with US$30.1 million in the fourth quarter of 2024.

Non-GAAP operating income[6]

Non-GAAP operating income in the fourth quarter of 2025 was US$28.9 million, compared with US$33.3 million in the fourth quarter of 2024.

Interest income

Interest income was US$6.0 million in the fourth quarter of 2025, compared with US$7.1 million in the fourth quarter of 2024.

Investment (loss) income 

Investment income was US$1.1 million in the fourth quarter of 2025, compared with an investment loss of US$1.7 million in the fourth quarter of 2024, primarily due to changes in the fair value of wealth management products.

Income tax (expense) benefit

Income tax benefit was US$0.6 million in the fourth quarter of 2025, compared with income tax expense of US$3.4 million in the fourth quarter of 2024, primarily attributable to the preferential tax rate applicable to a subsidiary since the fourth quarter of 2025.

Net income

Net income was US$34.5 million in the fourth quarter of 2025, a 6.2% increase from US$32.5 million in the fourth quarter of 2024.

Non-GAAP net income

Non-GAAP net income in the fourth quarter of 2025 was US$36.9 million, a 3.2% increase from US$35.7 million in the fourth quarter of 2024.

Earnings per ordinary share

Basic and diluted earnings per ordinary share were US$0.23 and US$0.20, respectively, in the fourth quarter of 2025, while basic and diluted earnings per ordinary share were US$0.20 and US$0.18, respectively, in the fourth quarter of 2024.

Non-GAAP earnings per ordinary share[7]

Non-GAAP basic and diluted earnings per ordinary share were US$0.24 and US$0.21, respectively, in the fourth quarter of 2025, compared with US$0.22 and US$0.20, respectively, in the fourth quarter of 2024.

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

As of December 31, 2025, the Company had cash and cash equivalents, restricted cash, term deposits and short-term investments of US$754.6 million, compared with US$656.3 million as of December 31, 2024.

Full Year 2025 Financial Results

Revenues

Revenues were US$341.9 million in 2025, a 0.7% increase from US$339.7 million in 2024. The increase was primarily driven by the broadening of user base and enhanced user monetization.

Revenues generated from chatting services were US$216.4 million in 2025, and revenues generated from games services were US$124.0 million in 2025.

Costs and expenses

Total costs and expenses were US$219.7 million in 2025, compared with US$218.3 million in 2024.

Cost of revenues was US$111.9 million in 2025, a 7.1% decrease from US$120.5 million last year, primarily due to lower commission fees paid to third-party payment platforms as a result of diversified payment channels. Cost of revenues as a percentage of total revenues decreased to 32.7% in 2025 from 35.5% in 2024.

Selling and marketing expenses were US$34.6 million in 2025, a 10.2% increase from US$31.3 million in 2024, primarily driven by higher advertising and market promotion expenses attributable to our continued user acquisition efforts and expanding product portfolio. Selling and marketing expenses as a percentage of total revenues increased to 10.1% in 2025 from 9.2% in 2024.

General and administrative expenses were US$39.0 million in 2025, a 4.1% increase from US$37.4 million in 2024, primarily due to an increase in foreign exchange loss. General and administrative expenses as a percentage of total revenues increased to 11.4% in 2025 from 11.0% in 2024.

Technology and product development expenses were US$34.3 million in 2025, an 18.0% increase from US$29.0 million in 2024, primarily due to an increase in salaries and benefits for our technology and product development staff, driven by an increase in the headcount of our technology and product development staff to support the development of new businesses and expansion of our product portfolio. Technology and product development expenses as a percentage of total revenues increased to 10.0% in 2025 from 8.5% in 2024.

Operating income

Operating income was US$122.2 million in 2025, a 0.7% increase from US$121.4 million in 2024.

Non-GAAP operating income

Non-GAAP operating income in 2025 was US$132.5 million, compared with US$136.1 million in 2024.

Interest income

Interest income was US$25.7 million in 2025, compared with US$28.7 million in 2024.

Investment (loss) income

Investment income was US$3.3 million in 2025, compared with an investment loss of US$2.8 million in 2024, primarily due to changes in the fair value of wealth management products.

Income tax expense

Income tax expense was US$4.0 million in 2025, compared with US$13.9 million in 2024, primarily due to a decrease in UAE corporate tax.

Net income

Net income was US$148.1 million in 2025, a 10.4% increase from US$134.2 million in 2024.

Non-GAAP net income

Non-GAAP net income was US$158.5 million in 2025, a 6.5% increase from US$148.8 million in 2024.

Earnings per ordinary share

Basic and diluted earnings per ordinary share were US$0.96 and US$0.83, respectively, in 2025, compared with US$0.85 and US$0.74, respectively, in 2024.

Non-GAAP earnings per ordinary share

Non-GAAP basic and diluted earnings per ordinary share were US$1.03 and US$0.89, respectively, in 2025, compared with US$0.94 and US$0.82, respectively, in 2024.

[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.

Share repurchase program

Pursuant to the Company’s share repurchase program beginning on May 21, 2021, with an extended expiration date of May 21, 2026, the Company repurchased 8,377,035 American depositary shares (“ADSs”), representing 8,377,035 Class A ordinary shares, from the open market with cash for an aggregate amount of approximately US$56.6 million in 2025. As of December 31, 2025, the Company had cumulatively completed cash repurchases in the open market of 15,682,173 ADSs, representing 15,682,173 Class A ordinary shares, for an aggregate amount of approximately US$106.0 million, since the inception of the current share repurchase program. The aggregate value of ADSs and/or Class A ordinary shares that remain available for purchase under the current share repurchase program was US$44.0 million as of December 31, 2025. In addition, the Company has decided to cancel all shares repurchased in 2025. As of December 31, 2025, the Company had cancelled 6,230,299 ADSs, representing 6,230,299 Class A ordinary shares.

The Company’s board of directors has authorized a new share repurchase program under which the Company may repurchase up to US$150 million worth of its outstanding ADS and/or Class A ordinary shares over the 24 months starting March 9, 2026. The Company’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size.

Outlook

For the first quarter of 2026, considering the impact of Ramadan, which falls completely within the first quarter this year, 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.

Conference Call

Yalla Group Limited will hold a conference call on Monday, March 9, 2026, at 8:00 PM Eastern Time, 4:00 AM Dubai Time on Tuesday, March 10, 2026, or 8:00 AM Beijing Time on Tuesday, March 10, 2026, to discuss the financial results.

Participants should complete online registration using the link provided below before the scheduled start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call.

Event Title:               Yalla Group Ltd. Fourth Quarter and Full Year 2025 Earnings Conference Call
Registration Link:     https://register-conf.media-server.com/register/BId6ac40b44aa146df8531eae7cb1148cf 

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

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,
2024

December 31,
2025

US$

US$

ASSETS

Current assets

Cash and cash equivalents

488,379,894

526,972,019

Restricted cash

1,975,616

1,625,525

Term deposits

94,983,813

84,800,000

Short-term investments

70,932,713

141,251,128

Prepayments and other current assets

35,429,988

41,659,226

Total current assets

691,702,024

796,307,898

Non-current assets

Property and equipment, net

13,962,393

14,976,818

Intangible asset, net

896,005

728,348

Operating lease right-of-use assets

1,370,914

1,902,655

Long-term investments

93,698,924

82,053,772

Other assets

250,000

Total non-current assets

109,928,236

99,911,593

Total assets

801,630,260

896,219,491

LIABILITIES

Current liabilities

Accounts payable

957,717

1,066,625

Deferred revenue, current

58,081,649

55,178,093

Operating lease liabilities, current

1,012,481

357,525

Amounts due to a related party

87,156

44,177

Income taxes payable

9,117,261

1,319,111

Accrued expenses and other current liabilities

32,404,872

30,350,120

Total current liabilities

101,661,136

88,315,651

Non-current liabilities

Deferred revenue, non-current

1,837,543

Operating lease liabilities, non-current

13,495

1,095,245

Deferred tax liabilities

2,148,022

2,924,137

Total non-current liabilities

2,161,517

5,856,925

Total liabilities

103,822,653

94,172,576

EQUITY

Shareholders’ equity of Yalla Group Limited

Class A Ordinary Shares

14,064

13,441

Class B Ordinary Shares

2,473

2,473

Additional paid-in capital

328,883,061

339,199,644

Treasury stock

(49,438,661)

(42,497,929)

Accumulated other comprehensive loss

(3,016,579)

(1,636,586)

Retained earnings

427,907,766

515,197,658

Total shareholders’ equity of Yalla Group Limited

704,352,124

810,278,701

Non-controlling interests

(6,544,517)

(8,231,786)

Total equity

697,807,607

802,046,915

Total liabilities and equity

801,630,260

896,219,491

 

YALLA GROUP LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS

OF OPERATIONS

Three Months Ended

Year Ended

December 31,
2024

September 30,
2025

December 31,
2025

December 31,
2024

December 31,
2025

US$

US$

US$

US$

US$

Revenues

90,827,754

89,636,333

83,860,924

339,675,845

341,938,110

Costs and expenses

Cost of revenues

(31,044,004)

(28,430,988)

(26,349,923)

(120,471,064)

(111,925,930)

Selling and marketing expenses

(7,403,643)

(9,582,434)

(9,362,742)

(31,347,919)

(34,550,017)

General and administrative expenses

(13,066,301)

(9,224,448)

(12,052,397)

(37,424,491)

(38,974,500)

Technology and product development expenses

(9,178,864)

(8,629,226)

(9,474,910)

(29,030,758)

(34,270,468)

Total costs and expenses

(60,692,812)

(55,867,096)

(57,239,972)

(218,274,232)

(219,720,915)

Operating income

30,134,942

33,769,237

26,620,952

121,401,613

122,217,195

Interest income

7,101,823

6,300,342

6,008,731

28,673,905

25,661,745

Government grants

360,194

63,629

201,230

800,160

931,407

Investment (loss) income

(1,711,657)

2,204,831

1,101,141

(2,805,945)

3,310,028

Income before income taxes

35,885,302

42,338,039

33,932,054

148,069,733

152,120,375

Income tax (expense) benefit

(3,354,580)

(1,613,621)

601,477

(13,918,526)

(3,980,531)

Net income

32,530,722

40,724,418

34,533,531

134,151,207

148,139,844

Net loss attributable to non-controlling interests

60,763

386,428

327,002

1,533,034

1,695,147

Net income attributable to Yalla Group
   Limited’s shareholders

32,591,485

41,110,846

34,860,533

135,684,241

149,834,991

Earnings per ordinary share

——Basic

0.20

0.27

0.23

0.85

0.96

——Diluted

0.18

0.23

0.20

0.74

0.83

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

——Basic

159,672,548

154,491,280

153,979,633

160,429,693

155,977,062

——Diluted

182,474,460

179,310,959

178,066,658

183,156,324

180,082,810

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

Year Ended

December 31,
2024

September 30,
2025

December 31,
2025

December 31,
2024

December 31,
2025

US$

US$

US$

US$

US$

Cost of revenues

1,582,874

1,143,119

1,060,328

7,220,748

4,857,684

Selling and marketing expenses

179,964

131,359

144,874

1,822,939

617,565

General and administrative expenses

1,236,586

1,073,416

1,068,269

5,005,853

4,601,123

Technology and product development expenses

173,063

56,160

43,907

642,197

240,211

Total share-based compensation expenses

3,172,487

2,404,054

2,317,378

14,691,737

10,316,583

 

YALLA GROUP LIMITED

RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS 

Three Months Ended

Year Ended

December 31,
2024

September 30,
2025

December 31,
2025

December 31,
2024

December 31,
2025

US$

US$

US$

US$

US$

Operating income

30,134,942

33,769,237

26,620,952

121,401,613

122,217,195

Share-based compensation expenses

3,172,487

2,404,054

2,317,378

14,691,737

10,316,583

Non-GAAP operating income

33,307,429

36,173,291

28,938,330

136,093,350

132,533,778

Net income

32,530,722

40,724,418

34,533,531

134,151,207

148,139,844

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

3,172,487

2,404,054

2,317,378

14,691,737

10,316,583

Non-GAAP net income

35,703,209

43,128,472

36,850,909

148,842,944

158,456,427

Net income attributable to Yalla
   Group Limited’s shareholders

32,591,485

41,110,846

34,860,533

135,684,241

149,834,991

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

3,172,487

2,404,054

2,317,378

14,691,737

10,316,583

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

35,763,972

43,514,900

37,177,911

150,375,978

160,151,574

Non-GAAP earnings per ordinary share

——Basic

0.22

0.28

0.24

0.94

1.03

——Diluted

0.20

0.24

0.21

0.82

0.89

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

——Basic

159,672,548

154,491,280

153,979,633

160,429,693

155,977,062

——Diluted

182,474,460

179,310,959

178,066,658

183,156,324

180,082,810

 

 

NYSE Content Update: Paris Hilton + Gloria Steinem Celebrate International Women’s Day

NEW YORK, March 10, 2026 /PRNewswire/ — The New York Stock Exchange (NYSE) provides an afternoon update directly from the NYSE Trading Floor. Access today’s NYSE afternoon update for insights before the Closing Bell.

Paris Hilton to ring NYSE Closing Bell on March 9th.
Paris Hilton to ring NYSE Closing Bell on March 9th.
  • The New York Stock Exchange will mark Monday’s Closing Bell in honor of International Women’s Day, celebrated on Sunday, March 8, 2026.
  • Paris Hilton, Founder and CEO of 11:11 Media, along with activist Gloria Steinem, will ring the Closing Bell.
  • Hilton will spotlight Back in Business, an initiative supporting women-owned small businesses rebuilding after the January 2025 Los Angeles Wildfires.
  • Following the fires, 11:11 Media awarded 50 grants to women-owned businesses in partnership with the Pasadena Women’s Business Center and GoFundMe.

Paris Hilton, Founder & CEO of 11:11 Media, alongside activist Gloria Steinem will ring the New York Stock Exchange (NYSE) Closing Bell at 4:00 p.m. E.T. in celebration of International Women’s Day to honor the leadership, resilience, and impact of women across business, media, and culture.

Paris Hilton will also highlight Back in Business, a new initiative from 11:11 Media that spotlights women owned small businesses rebuilding in the wake of the January 2025 Los Angeles wildfires. Following the fires, 11:11 Media’s Impact team mobilized to support affected families and small businesses, awarding grants to 50 women owned businesses in partnership with the Pasadena Women’s Business Center and GoFundMe.

Back in Business continues that effort through a six-episode YouTube series, sharing the stories of these women entrepreneurs as they recover, rebuild, and grow. The program underscores the importance of sustained investment in women led businesses and long-term community recovery.

Click to watch the Closing Bell live on Taking Stock starting at 3:58 p.m. ET today

 

Ridgewood Infrastructure Acquires Sierra Railroad Company

NEW YORK, March 10, 2026 /PRNewswire/ — Ridgewood Infrastructure, a leading investment firm focused on essential infrastructure in the United States, today announced that it has acquired a controlling interest in Sierra Railroad Company (“Sierra”), a California-based shortline rail platform providing freight rail, switching, storage, and transloading services to a diversified customer base across key essential industrial, agricultural, and energy supply chains. Simultaneously with Ridgewood’s investment Sierra is acquiring Central Valley Ag Transport (“CVAT“) an agricultural products transload facility owner and operator serving customers along Sierra’s rail network.

Sierra’s operating subsidiaries include Sierra Northern Railway (“Sierra Northern”), which owns and operates the freight rail business and provides switching, storage, and transloading services across approximately 130 miles of track in California. Sierra Northern’s network is strategically located near core dairy and agricultural regions, major West Coast ports, and industrial demand centers, enabling critical last-mile connectivity across essential supply chains.

Sierra Northern benefits from strategically located Class I interchanges, including access to both Union Pacific Railroad and BNSF Railway, providing customers with enhanced network redundancy, routing flexibility, and connectivity to national rail markets.

The transaction also includes Sierra’s subsidiary Railpower, Inc., which owns and operates the only Federal Railroad Administration (“FRA”)–approved hydrogen-powered locomotive in the United States, reflecting Sierra’s leadership in rail innovation and zero-emissions locomotive technology.

The acquisition of CVAT strengthens Sierra’s platform by vertically integrating agricultural transload capabilities that are essential to California’s dairy and broader agricultural industry. CVAT provides specialized transloading services along Sierra Northern’s network, enabling efficient movement of feed and agricultural products while deepening customer relationships and increasing rail utilization.

“Sierra is a high-quality shortline rail platform with strong fundamentals, a diversified customer base, and a strategic footprint in some of California’s most important industrial and agricultural corridors,” said Ryan Stewart, Partner at Ridgewood Infrastructure. “Our team brings deep experience owning and operating shortline and other railroad businesses across the United States, and we see meaningful opportunities to build on Sierra’s strong foundation by driving additional freight volumes for both existing customers and new customers, expanding transload capabilities, and supporting innovation across the platform.”

“This partnership with Ridgewood marks an important next step for Sierra,” said Kennan H. Beard III, Chief Executive Officer of Sierra Northern. “Ridgewood’s experience operating rail and infrastructure businesses, combined with their investment approach, gives us the resources and support to accelerate execution across the platform. We are focused on growing volumes, expanding transload capacity, and continuing to serve our customers with the reliability and responsiveness they expect.”

“In selecting a partner for Sierra, it was critical to find an investor with the sector expertise, aligned strategic perspective, and financial capacity to support the company’s next phase of growth,” said Mike Hart, Founder of Sierra Railroad Corporation who has led the company since its acquisition in 1995. “Sierra had reached a point where meaningful near-term investment was required to pursue identified opportunities.”

Ridgewood stood apart as a differentiated, value-added partner with a deep understanding of the rail industry and a proven track record of building lower middle-market infrastructure businesses,” Mr. Hart added. “Their experience and approach made them the right long-term owner for Sierra, and I am pleased to remain a significant investor alongside Ridgewood.”

Ridgewood was advised by King & Spalding and Truist Securities. Sierra was advised by Northborne Partners. Debt financing for the transaction was provided by Brookfield Infrastructure Credit.

About Ridgewood Infrastructure

Ridgewood Infrastructure invests in essential infrastructure businesses across the transportation, energy, utilities, and industrial sectors. The firm focuses on assets that provide critical services, exhibit durable demand, and offer opportunities for value creation through operational improvement and strategic growth.

About Sierra Railroad Company

Sierra Railroad Company is a California-based rail platform whose subsidiaries include Sierra Northern Railway, a shortline freight rail operator providing switching, storage, and transloading services across approximately 130 miles of track; and Railpower, Inc., a hydrogen locomotive business.

About Central Valley Ag Transport

Central Valley Ag Transport is an agricultural products transload operator serving dairy farmers and agricultural customers along Sierra Northern Railroad’s network.

Contact info:  
For More Information:  
Ridgewood Infrastructure  
34 East 51st Street, 9th Floor  
New York, NY 10022  
Phone: (212) 867-0050  
Inquiries@RidgewoodInfrastructure.com

Logo – https://laotiantimes.com/wp-content/uploads/2026/03/ridgewood_logo.jpg 

MCO (MyComplianceOffice) Rises to Number 17 on Chartis Research’s Financial Crime and Compliance50 2026

NEW YORK, March 10, 2026 /PRNewswire/ — MCO (MyComplianceOffice), a leading provider of compliance management software for financial services firms, has been named to Chartis Research’s Financial Crime and Compliance50 (FCC50) for the second consecutive year, rising to number 17.

MCO Rises to Number 17 on Chartis Research’s Financial Crime and Compliance50 2026
MCO Rises to Number 17 on Chartis Research’s Financial Crime and Compliance50 2026

 

The Financial Crime Compliance50 report evaluates top vendors in financial crime technology, focusing on innovation in key areas including anti-money laundering (AML), fraud detection, sanctions screening, and Know Your Customer (KYC) compliance. The independent assessment considers market influence, technological innovation, and strategic vision, highlighting the firms shaping the future of financial crime compliance software.

MCO also won the following awards:

  • Data Tech Category: Regional Due Diligence Data
  • Emerging Use Cases Category: Know Your Transaction Award
  • Functionality Category: Perpetual KYC Award

“MCO’s rise in the FCC50 ranking reflects several notable achievements, as well as the quality of its functionality in the areas of AML transaction monitoring, name screening, adverse media, case management and KYC,’ said Sean O’Malley, Research Director at Chartis. ‘Alongside strong revenue performance, market knowledge and industry reputation – with a presence in multiple business verticals, emerging markets and mid- and lower-tier banks – MCO is continuing to invest in R&D to enable future software enhancements.”

Daragh Tracey, MCO’s Director of Product for Financial Crime, added: “As the financial services industry continues to evolve, we’re committed to staying at the forefront of compliance technology. Inclusion on the FCC50 list reflects our dedication to reducing cost, effort, and risk for our client firms. We are delighted to receive this recognition and remain committed to providing greater value and functionality for customers with trusted AML, KYC, and transaction monitoring tools – all delivered through a single platform and single data set across the key areas of compliance.”

The MyComplianceOffice platform empowers financial services firms to proactively manage Know Your Customer, Third Party Risk Management, and Anti-Money Laundering compliance using real-time analytics, intelligent workflows, and centralized oversight. To learn more about MCO’s award-winning financial crime compliance solutions, visit mycomplianceoffice.com.

About MCO (MyComplianceOffice)
MCO provides integrated compliance management software that enables global financial services firms to operate efficiently, ethically, and compliantly. With 30+ products on a single system, the powerful MyComplianceOffice platform enables compliance professionals to demonstrate that they are proactively managing compliance obligations and the regulated activities of employees, third-party relationships and financial transactions.

1500+ client companies across 125+ countries use MyComplianceOffice to move away from manual processes and disparate systems with a superior compliance ecosystem that delivers significantly reduced cost and risk.

Meshy Unveils Meshy Labs at GDC 2026 — Breakthrough AI-Native Gameplay and $30M ARR Milestone

This marks an expansion from production to play, debuting the interactive Black Box: Infinite Arsenal, redefining AI for gaming

SAN FRANCISCO, March 10, 2026 /PRNewswire/ — Meshy, a Silicon Valley 3D generative AI leader, announced at Game Developers Conference (GDC) 2026 the launch of Meshy Labs, its experimental AI incubator, alongside its first title created via the platform: Black Box: Infinite Arsenal, a groundbreaking AI-native, survivor-like game that generates gameplay logic in real time. This release comes on the heels of its latest Meshy 6 model, and the platform doubling its annual recurring revenue to $30 million in just three months at the same time it officially passed 10 millions global users. In just three years, Meshy is already cementing its position as an undisputed leader in generative AI for 3D and gaming.

The news was formally unveiled at GDC 2026 during an exclusive session with a live showcase of the new game. A playable, hands-on demo will also be available throughout the conference at Meshy’s Booth #941, allowing showgoers to experience the AI-native mechanics firsthand.

Meshy has already become the industry standard for high-fidelity 3D asset generation, solving one of the biggest bottlenecks in game production. With the launch of Meshy Labs, the company is now extending AI infrastructure beyond content creation to gameplay itself.

“With Meshy Labs and Black Box: Infinite Arsenal, we’re moving AI out of the background of the production pipeline and directly into the foreground of the player experience,” said Ethan Hu, founder and CEO of Meshy. “We began with AI for 3D, empowering anyone at any skill level to build rich worlds without traditional bottlenecks. But if AI for 3D is transforming how we produce, then AI for Fun is the next frontier — changing not just how games are made, but how they are played and experienced. For the first time ever, we’re generating gameplay that is fundamentally unique every single time you play.”

Black Box: Infinite Arsenal – What the Future of Gaming Looks Like

This experimental release is no longer about visual creativity, but something gamers seek even more – real-time AI logic generation that creates endless hours of unplanned, never before seen, unique gameplay. Rather than looting pre-designed weapons or selecting from fixed presets, players use text prompts to imagine and manifest their own arsenals. Through real-time AI synthesis, a Designer Agent assembles atomic mechanics (such as trajectories, physics interactions, elemental effects, and damage parameters) and emergent logic actively into playable and distinct experiences.

Game highlights include:

  • Limitless Agency: No fixed weapon database or hardcoded builds. Players define their own combat style through self-created prompts.
  • Emergent Logic: AI recombines core mechanics in real time based on player intent and tactics, formulating a new way to play every time.
  • Deep Personalization: Every run is entirely unique, eliminating static metas and content exhaustion.

Traditional games inevitably run into content fatigue and rigid, solved metas. Black Box addresses this industry-wide challenge by using AI to generate rules and interactions dynamically, creating a system that continuously adapts and expands based purely on player imagination. Players transition from passive consumers of prebuilt content into active co-creators of the game’s mechanics – unlocking effectively infinite replayability in a way the gaming community has never seen before.

This approach reflects a broader industry shift toward fully AI-native experiences. As generative AI has already transformed production workflows, the next frontier is deeper, more adaptive gameplay. Meshy Labs exists to explore that frontier, with Black Box serving as a playable proof-of-concept for what’s possible when AI becomes a real-time designer, not just a production tool.

The launch marks Meshy’s continuing evolution from a category-defining 3D creation platform into a full-stack gaming powerhouse. Additional details about Meshy Labs and future experimental titles will be shared later this year.

About Meshy

Meshy is the leading 3D generative AI company enabling anyone to turn text or images into high-quality 3D models in minutes, with unmatched speed, accessibility and creative freedom for both professionals and hobbyists. Backed by leading global investors, Meshy serves more than 10 million users at the individual and enterprise scale, generating more than 100 million models to date. Meshy is led by founder and CEO Ethan Hu, an MIT-trained Ph.D. known for creating the Taichi GPU programming language. The company is on a mission to transform the content creation process for a more accessible future.

Learn more at Meshy.ai

ICANN85 in Mumbai Highlights Collaboration to Strengthen a Secure and Resilient Internet

MUMBAI, India, March 10, 2026 /PRNewswire/ — The ICANN85 Community Forum, organized by the Internet Corporation for Assigned Names and Numbers (ICANN) and hosted in collaboration with the National Internet Exchange of India (NIXI) under MeitY, brought global Internet stakeholders to Mumbai to discuss how to support an open, secure, inclusive, and resilient Internet across the global Internet ecosystem.

ICANN85 Community Forum
ICANN85 Community Forum

The ICANN85 Community Forum is currently taking place 7–12 March 2026 at Jio Convention Center.

The official Welcome Ceremony held today, brought together senior government officials and Internet leaders including Shri S. Krishnan, IAS, Secretary, Ministry of Electronics and Information Technology (MeitY), Government of India; Shri Rajesh Aggarwal, IAS, Chief Secretary, Government of Maharashtra; Shri Sushil Pal, Joint Secretary, MeitY, Government of India; Dr. Devesh Tyagi, Chief Executive Officer, NIXI; and ICANN Board Chair, Tripti Sinha; ICANN President and CEO, Kurtis Lindqvist; and Shri Samiran Gupta, ICANN Vice President for Stakeholder Engagement and Managing Director for the Asia Pacific region.

“The Internet today has become critical infrastructure that supports economies, public services, innovation, and everyday life across the world. As digital adoption continues to grow, it is important that we work together to ensure the Internet remains open, secure, resilient, and inclusive. Platforms like ICANN bring together governments, the private sector, the technical community, and civil society to strengthen the multistakeholder approach to Internet governance. India remains committed to contributing to these global efforts and to building trusted digital infrastructure that supports innovation, cooperation, and meaningful participation from all regions.” said Shri S. Krishnan, IAS, Secretary, Ministry of Electronics and Information Technology (MeitY), Government of India.

“The Internet today is a critical part of economic growth, governance, and daily life. Platforms like ICANN85 provide an important opportunity for governments, technical experts, and industry stakeholders to come together and discuss how we can keep the Internet open, secure, and accessible for everyone. Such discussions help strengthen cooperation and ensure that the Internet continues to support innovation and development across regions,” said Rajesh Aggarwal, Chief Secretary, Government of Maharashtra.

“The world grows more complex and, at times, more divided — which is precisely why the Internet’s stability and integrity matter more deeply now than ever before. Today, that original call rings louder and truer than ever. It asks us to be steady and disciplined in how we work, transparent and accountable in how we decide, and unwavering in our commitment to an Internet that is secure, stable, and reflective of the diverse humanity it serves,” said Tripti Sinha, ICANN Board Chair.

“My focus this week is practical. I want us to leave Mumbai with meaningful progress on the work the community has prioritized, and with momentum on the milestones that are coming next,” said Kurtis Lindqvist, ICANN President and CEO. “For those newer to ICANN, I will add one more thing. Do not underestimate the value of your perspective, and do not hesitate to contribute. This community works best when we combine deep experience with fresh eyes, and when we bring more people into the work, especially from regions that have not always been in the center of these conversations.”

The ICANN85 Community Forum is comprised of more than 200 sessions involving governments, industry leaders, technical experts, and civil society participants from around the world. The sessions focus on key issues related to the secure and stable operation of the Internet, including the evolution of the Domain Name System, cybersecurity practices, and the upcoming expansion of generic top-level domains (gTLDs).

Discussions throughout the week will highlight the importance of the multistakeholder model in Internet governance, where the ICANN community collaborates to develop policies, implement solutions, and support the continued operation of a secure, stable, and globally interoperable Internet.

About ICANN

ICANN’s mission is to help ensure a stable, secure, and unified global Internet. To reach another person on the Internet, you need to type an address – a name or a number – into your computer or other device. That address must be unique, so computers know where to find each other. ICANN helps coordinate and support these unique identifiers across the world. ICANN was formed in 1998 as a nonprofit public benefit corporation with a community of participants from all over the world.

About NIXI

The National Internet Exchange of India (NIXI) is a not-for-profit organization set up under the aegis of the Ministry of Electronics and Information Technology (MeitY), Government of India. NIXI plays a critical role in strengthening India’s Internet infrastructure by facilitating efficient exchange of domestic Internet traffic, managing the .IN and .भारत (.Bharat) country-code top-level domains, and promoting adoption of Internet services across the country. Through its initiatives, NIXI supports a secure, resilient, and inclusive Internet ecosystem aligned with India’s digital growth ambitions.

 

BLUETTI Elite 300 Certified as the World’s Smallest 3kWh Portable Power Station as Global Launch

LOS ANGELES, March 10, 2026 /PRNewswire/ — BLUETTI, a global leader in portable energy storage, today officially announced the market release of the Elite 300 portable power station. Certified by Frost & Sullivan as the world’s smallest 3kWh portable power station by volume as of January 2026*, the Elite 300 arrives as a breakthrough compact 3kWh unit for both emergency home backup and RV travel. 

Packing 3kWh of capacity into a 2kWh-sized footprint, the BLUETTI Elite 300 provides a reliable, space-saving backup for RV travel, seasonal camping, and power outages during extreme weather.
Packing 3kWh of capacity into a 2kWh-sized footprint, the BLUETTI Elite 300 provides a reliable, space-saving backup for RV travel, seasonal camping, and power outages during extreme weather.

A New Standard in Energy Density

BLUETTI’s Elite series is globally recognized for the dedicated balance between  power and portability. Following the success of the widely acclaimed Elite 200 V2 portable power station, the new Elite 300 prioritizes mobility without sacrificing capacity. With dimensions of 366 mm × 305 mm × 297.5 mm—roughly the size of a standard milk crate and comparable to many 2kWh units—it marks a significant leap in energy density for the 3kWh category.                        

Despite  its streamlined footprint, the Elite 300 delivers 3,014.4Wh of LiFePO4 energy and a 2,400W output in such a mobile chassis.  It integrates seamlessly into tight living quarters in RV or small apartments, providing heavy-duty backup power without the typical bulk of high-capacity units.

Built for Resilience: From Outages to Open Roads

  • Emergency Backup & Home Resilience
    As homeowners face increasingly frequent extreme weather, from hurricanes to summer heatwaves, the Elite 300 offers a silent, emission-free take on the traditional generator. It can keep a standard household refrigerator (1kWh/day) running for nearly 60 hours during prolonged outages. With a 2,400W continuous output (4,800W Power Lifting Mode), it effortlessly handles heavy-duty essentials like space heaters, electric kettles, and ovens to maintain warmth during sudden outages.  With a seamless 10ms UPS switchover, the Elite 300 ensures instant power for essential electronics like Wi-Fi routers. Beyond essential backup, the BLUETTI App provides intuitive tools—such as Remote Wakeup, Sleep Mode, and Time-of-Use scheduling—to help homeowners manage energy consumption and reduce electricity costs.
  • RV, Camping & Road Trips
    Tailored for the needs of RV owners, van-lifers, and campers, the Elite 300 features 11 versatile outlets, including a dedicated TT-30R RV port and a high-current 12V/30A DC output. The NEMA TT-30R RV port provides a 30-amp, 120-volt connection essential for off-grid power, supporting high-demand appliances such as A/C units, microwaves, and water heaters. The 12V/30A DC port eliminates the energy loss of AC-to-DC conversion, directly powering high-draw loads like diesel heaters and water pumps. For boondocking and extended road trips, Elite 300 can be paired with portable solar panels and the Charger 2 (an alternator and solar dual charger),  to capture 13 times faster on-the-go recharging. In about three hours of driving, it stands ready for immediate use upon arrival—powering camp lights, cooking appliances, or RV essentials without the typical wait for a recharge.

Price and Availability 

The Elite 300 portable power station is available for purchase with a special debut price of $1,099 through May 31—representing an exceptional value at roughly $0.36 per watt-hour in the 3kWh category. An additional 8% discount is available with the code BLUETTI8OFF, further supporting customers preparing for unexpected outages or gearing up for the upcoming travel season. Customers can secure their units via the BLUETTI Official Store or the BLUETTI Amazon Store.

Source: Frost & Sullivan, confirmed based on the research on the global portable power station market. 

About BLUETTI

Established in 2013, BLUETTI has evolved into a pioneer in the clean energy sector. Driven by robust in-house R&D and sustainable innovation, the brand empowers millions across 120+ countries to stay safe and prepared. Its portfolio of portable power stations and home battery backup solutions ensures reliable power for emergency preparedness, RV travel, and  off-grid lifestyles.

CONTACT: 
Ellen Lee
PR Specialist
ellenlee@bluetti.com

Shell to sell Jiffy Lube International and Premium Velocity Auto to Monomoy Capital Partners

HOUSTON, March 10, 2026 /PRNewswire/ — Pennzoil Quaker State Company DBA SOPUS Products, a wholly owned subsidiary of Shell USA, Inc., that comprises Shell’s United States (“U.S.”) lubricants business, has entered an agreement to sell Jiffy Lube International (JLI) and its subsidiary Premium Velocity Auto (PVA) LLC business to an affiliate of Monomoy Capital Partners (Monomoy) for $1.3 billion. As part of this transaction, Pennzoil Quaker State Company has entered into a long-term lubricants supply agreement with Monomoy.

The sale includes the Jiffy Lube brand and a network of franchised stores which are owned and operated by independent franchisees, in addition to franchised stores that are owned and operated by PVA. Shell will retain its Pennzoil Quaker State, Rotella and other Shell lubricants brands, along with marketing, manufacturing and distribution of lubricants in the U.S. and Canada that serve consumer, commercial and industrial sectors.

“By capitalizing on a strong market opportunity, this divestment allows us to monetize an asset that is not central to Shell’s lubricant’s portfolio in the US and reinvest in opportunities that generate higher returns,” said Machteld de Haan, President, Downstream, Renewables and Energy Solutions, Shell plc.

The transaction is expected to close in the second half of 2026, subject to regulatory approval and closing conditions.

Notes to editors 

  • Jiffy Lube has been a part of Shell Lubricants in the US for more than 20 years, consistently delivering strong performance and building a trusted brand with millions of drivers. The JLI franchised stores provide lubrication, oil change, and light repairs for cars and light trucks using the trade name “Jiffy Lube”.  Jiffy Lube makes up ~6.5% volume of Shell’s U.S. and Canada total lubricants business.
  • For more information about Monomoy Capital Partners, please visit their website: www.MCPFunds.com 
  • Monomoy will acquire Jiffy Lube® International (including the registered trademark), which operates more than 2,000 franchisees and company-owned and operated service centers across the U.S. and licensees in Canada. Monomoy will also acquire Premium Velocity Auto, LLC (PVA Group), the second-largest Jiffy Lube franchisee, with over 360 locations across 20 states.
  • The term “Shell Lubricants” collectively refers to Shell Group companies engaged in the lubricants business. Shell Lubricants companies have led the global lubricants industry by volume for more than 19 consecutive years.*
  • The U.S. is a key market and a leading destination for Shell investment, with operations and interests in all 50 states. Shell is the leading deep-water operator and largest producer of oil and gas in the U.S. Gulf of America and the largest buyer of U.S. LNG. Through our Trading & Supply network, we move U.S. energy reliably—from power and low-carbon fuels to LNG and refined products—to customers nationwide and globally. Shell operates the largest branded fuel network in the United States, with about 12,000 Shell‑branded gas stations serving more than 7 million customers daily. With more than 100 years in the U.S. and over 11,000 employees, Shell is delivering secure energy supplies and meeting the evolving needs of our customers today and into the future.

*Source: Kline & Company 2024, 23rd Edition, Global Lubricants: Market Analysis & Assessment, 2024.

Cautionary Note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this press release “Shell”, “Shell Group” and “Group” are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ”Subsidiaries”, “Shell subsidiaries” and “Shell companies” as used in this press release refer to entities over which Shell plc either directly or indirectly has control. The terms “joint venture”, “joint operations”, “joint arrangements”, and “associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties.  The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

Forward-Looking statements

This press release contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”; “ambition”; ”anticipate”; “aspire”, “aspiration”, ”believe”; “commit”; “commitment”; ”could”; “desire”; ”estimate”; ”expect”; ”goals”; ”intend”; ”may”; “milestones”; ”objectives”; ”outlook”; ”plan”; ”probably”; ”project”; ”risks”; “schedule”; ”seek”; ”should”; ”target”; “vision”; ”will”; “would” and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this press release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks, including climate change; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including tariffs and regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F and amendment thereto for the year ended December 31, 2024 (available at www.shell.com/investors/news-and-filings/sec-filings.html and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this press release and should be considered by the reader.  Each forward-looking statement speaks only as of the date of this press release, March 9, 2026. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release.

Shell’s net carbon intensity

Also, in this press release we may refer to Shell’s “net carbon intensity” (NCI), which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell’s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “net carbon intensity” or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

Shell’s net-zero emissions target

Shell’s operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our Scope 1, Scope 2 and NCI targets over the next ten years. However, Shell’s operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans and outlooks to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.

Forward-Looking non-GAAP measures

This press release may contain certain forward-looking non-GAAP measures such as adjusted earnings and divestments. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.

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We may have used certain terms, such as resources, in this press release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC.  Investors are urged to consider closely the disclosure in our Form 20-F, and any amendment thereto, File No 1-32575, available on the SEC website www.sec.gov.