MI
Moatable, Inc. (MTBLY)·Q1 2025 Earnings Summary
Executive Summary
- Q1 2025 delivered strong topline growth with revenue up 29% year over year to $18.0M, while gross profit rose 25% to $13.4M; operating loss narrowed to $0.97M as management emphasized a continued path to profitability .
- No formal guidance was provided; key capital allocation actions in the quarter included a special cash dividend of $0.6057 per ADS paid March 27, 2025 .
- The company disclosed restatements and a material weakness in internal controls tied to sales tax liabilities, later presenting revisions in an Item 2.02 8-K filing on April 24, 2025; remediation is underway .
- Consensus estimates from S&P Global were unavailable for Q1 2025 (EPS and revenue); results should be evaluated against internal trajectory and prior quarters rather than Street expectations. Values retrieved from S&P Global where noted*.
- Stock reaction catalysts: ongoing profitability improvements, execution in Lofty and Trucker Path, and clarity around internal-control remediation and capital returns (special dividend).
What Went Well and What Went Wrong
What Went Well
- Sustained revenue momentum: Q1 revenue increased 29% YoY to $18.0M, extending double-digit growth seen through 2024 and into 2025 .
- Operating loss improvement: Loss from operations improved to $0.97M in Q1, from $1.43M a year ago, demonstrating better cost discipline despite higher S&M and R&D investments .
- Management tone focused on growth and productivity: “We are pleased with our continued steady revenue growth over the past thirteen quarters… as we continue to strengthen our productivity and maintain our path to profitability,” said CFO Scott Stone .
What Went Wrong
- Adjusted EBITDA remained negative at -$0.49M in Q1 2025, deteriorating versus -$0.04M in Q1 2024, reflecting elevated go-to-market and product investment despite operating loss improvement .
- Internal control material weakness and restatement: management concluded prior financial statements should no longer be relied upon due to sales tax accounting errors; revisions and remediation plans were disclosed (non-reliance 8-K on Apr 4; revisions 8-K on Apr 24) .
- Cash levels declined sequentially to $24.1M at Q1-end from $31.9M at year-end 2024, partly reflecting the March special dividend; investors should monitor runway and capital allocation balance .
Financial Results
Values with asterisks retrieved from S&P Global.*
Segment/Revenue Mix
Key KPIs
Guidance Changes
No formal quantitative guidance was provided in Q1 materials; capital return via special dividend was the notable change .
Earnings Call Themes & Trends
No earnings call transcript was available for Q1 2025.
Management Commentary
- “We are pleased with our continued steady revenue growth over the past thirteen quarters… as we continue to strengthen our productivity and maintain our path to profitability.” — Scott Stone, CFO, Q1 2025 press release .
- “Moatable has achieved remarkable growth in revenue, cash flows and productivity… Adjusted EBITDA of $1.7 million profit in 2024 shows significant improvement… as we continue to increase our productivity and maintain our path to profitability.” — Scott Stone, CFO, 2024 annual results .
Q&A Highlights
No Q1 2025 earnings call transcript was found; thus, no Q&A highlights or clarifications are available.
Estimates Context
- S&P Global consensus for Q1 2025 EPS and revenue was unavailable; number of estimates also unavailable. Values retrieved from S&P Global.*
- Actual results versus estimates: not applicable due to lack of coverage. Consider internal pacing and sequential/YoY comparisons (see Financial Results tables).
Key Takeaways for Investors
- Revenue growth remains robust (+29% YoY) with gross profit up 25% YoY, reinforcing traction in Lofty and Trucker Path .
- Operating loss improvement alongside negative Adjusted EBITDA suggests near-term margin trade-off for growth; monitor S&M and R&D intensity for inflection in 2H’25 .
- Capital returns (special dividend) and lower cash ($24.1M at Q1-end) sharpen focus on liquidity runway versus growth investments .
- Internal-control remediation following restatement elevates governance risk; successful remediation is a potential re-rating catalyst .
- With no Street coverage, results are likely judged on sequential progress and narrative consistency; continued revenue scale and clear margin path are key stock drivers.
- Watch for segment/product KPIs (subscription growth, pricing, churn) and any formal guidance initiation to frame expectations.
- Near-term trading: sensitivity to profitability headlines and any updates on remediation; medium-term thesis hinges on converting growth to sustainable positive EBITDA and operating income.