Thesis: fraud, analyst: pelican-bay-research, sector: gaming.
see below
More ... latest change: 2026-02-28
Since releasing our report on $YALA in May, where we outlined what we believe to be significant revenue overstatements, the company has continued what we believe is a blatant exaggeration of its business performance. In its latest quarterly filing, $YALA claims roughly $258mm in revenue for the nine months ended September 30th, while our calculations, using third-party data and annualized, still place them at ~$40mm over the last twelve months, which is ~84% lower at minimum. $YALA’s operational reality continues to tell the same story. Our periodic checks of their voice chat app show most rooms with fewer than 10 users. The fake review issue we highlighted has also persisted; in our latest review sweep on Google Play, we still found at least 52% of the Play Store reviews showed hallmark signs of being fabricated. None of this reflects a healthy or scaling platform. Until $YALA can reconcile the vast discrepancy between claimed revenue and observed platform activity, along with the numerous other issues we outlined in our report, which we believe are still relevant, we believe our thesis stands stronger than ever. We remain short $YALA. The original report is available on our website in our bio
Last updated: 2026-03-07 by automated standardization process