iHuman Inc. (NYSE: IH) shares experienced a modest uptick in the preceding trading session, registering a marginal increase of 1.93% and concluding the session at $2.9050. This positive momentum in iHuman's stock price followed the disclosure of its quarterly financial results.
iHuman (IH) released its unaudited financial results for the third quarter, concluded on September 30, 2023. The revenue generated by iHuman was RMB 261.5 million (US$35.8 million). That reflects a 4.0% increase from the RMB 251.5 million recorded in the corresponding quarter last year. Revenue grew because of the expansion of the user base and heightened user engagement.
For Q3 2023, IH reported an adjusted net income of RMB 54.4 million (US$7.5 million). That indicated a notable rise of 25.1% from the RMB 43.5 million reported in the same period the previous year. The average total monthly active users (MAUs) for the quarter reached 25.36 million. That also marked a substantial 22.9% year-over-year increase from 20.63 million in the year-ago quarter. The number of paying users now totals 1.54 million.
Building upon these robust results, iHuman strategically focused on fortifying its product portfolio in both domestic and international markets. Domestically, the company refined its industry-leading offerings, enhancing both content and functionality. iHuman introduced two additional captivating themes for iHumanpedia, namely "Earth Treasure Hunt" and "Animal Architects," specifically crafted to nurture the scientific curiosity of children.
Internationally, IH increased the attractiveness of its products by introducing popular seasonal themes tailored to resonate with overseas users. These persistent endeavors to achieve product excellence have garnered iHuman international acclaim, exemplified by the prestigious w3 Gold Award in the Mobile Apps & Sites – Family & Kids category for bekids Reading.
Additionally, iHuman's smart devices business witnessed substantial progress with the launch of the second generation of Logic Pal. This user-friendly device is designed to facilitate early childhood word recognition, pronunciation, and cognitive growth through pluggable cards and interactive activities. In diversifying its offerings, the company also introduced Diandian Storyteller, a portable device empowering children to enhance their storytelling abilities and broaden their imaginative horizons.