Welcome to our dedicated page for Moatable news (Ticker: MTBL), a resource for investors and traders seeking the latest updates and insights on Moatable stock.
Moatable, Inc. (NYSE: MTBL) is a forward-thinking company focused on incubating, acquiring, and building leading vertical industry SaaS businesses. Originally known as Renren Inc., the company has transformed its operations from being a prominent social networking platform to a dynamic player in the software-as-a-service sector, both in China and the United States.
Moatable currently owns and operates several U.S.-based SaaS businesses, including Chime Technologies, Inc. and Trucker Path, Inc.. Chime Technologies offers an all-in-one CRM and sales acceleration platform designed specifically for real estate professionals. This platform helps agents close deals more quickly and efficiently. On the other hand, Trucker Path provides a suite of applications that assist commercial truck drivers in trip planning, navigation, and business operation, serving a large segment of the trucking industry.
Recently, Moatable announced a significant corporate milestone by officially changing its name from Renren Inc. to Moatable, Inc. The new name reflects the company's evolved focus and growth strategy. As of June 22, 2023, Moatable's American Depositary Shares (ADSs) began trading under the new ticker symbol MTBL on the New York Stock Exchange (NYSE).
Financially, Moatable has shown resilience and growth despite economic headwinds. The company reported steady year-over-year revenue growth and a return to profitability in the third quarter of 2023, thanks to effective cost management and operational efficiency. Moatable's strategic investments in high-growth fintech and SaaS companies, such as SoFi, LendingHome, and FiscalNote, further solidify its position in the tech industry.
Moatable’s operations are guided by a commitment to innovation and long-term value creation for its investors. The company's focus on SaaS platforms in industries with millions of participants underscores its potential for sustained growth and market leadership.
For more information, please visit www.moatable.com or contact their investor relations at ir@moatable-inc.com.
Moatable announced its Q1 2024 financial results, reporting a 15% increase in revenue to $14.0 million and a 14% increase in gross profit to $10.7 million. The company's loss from operations improved significantly by 67%, reducing from $3.4 million in Q1 2023 to $1.1 million in Q1 2024. Adjusted EBITDA turned positive, showing $250 thousand compared to a $2.6 million loss in Q1 2023. The company ended the quarter with $39.0 million in cash and cash equivalents. Michael Schifsky, interim CFO, highlighted the steady revenue growth and improved profitability on an Adjusted EBITDA basis as key achievements.
Moatable, Inc. announced the appointment of Mr. Grant Moon, a veteran with extensive experience in real estate and fintech industries, to its Board of Directors. Mr. Moon's background includes founding and leading successful financial technology companies and serving in the US Army. His expertise is expected to enhance Moatable's strategic direction and operations.
FAQ
What is the market cap of Moatable (MTBL)?
What does Moatable, Inc. do?
What are the main businesses operated by Moatable, Inc.?
When did Moatable, Inc. change its name from Renren Inc.?
What is the ticker symbol for Moatable, Inc.?
How has Moatable, Inc. performed financially recently?
What industries do Moatable's SaaS businesses serve?
What are some of Moatable, Inc.'s strategic investments?
Where can I find more information about Moatable, Inc.?
What is the significance of Moatable's SaaS platforms?
How does Moatable, Inc. ensure long-term value for investors?
