Our Reports. Your Inbox.

Thanks for submitting!

Yalla Group (NYSE: YALA)


Yalla Group, May 2021, Swan Street Resea
.
Download • 1.97MB

Swan Street is Short Yalla Group (NYSE: YALA).



Swan Street Research’s Core Opinions


· Yalla Group’s user metrics are inflated by 5x (7x adjusted for bots).


· We are incapable of squaring Yalla’s financials with observed in-app usage, 3rd party data, and former employee interviews. We harbor deep skepticism of Yalla’s reported revenues and cash balance. We believe ~50% of revenues and ~50% of Yalla’s cash balance are likely fictitious.


· Yalla’s financial statements do not reconcile with economic reality and Yalla is a credible de-listing candidate. We value Yalla at $1-2 per share, or Yalla’s IPO cash.

5,602 views