Singapore-based mobile advertising firm InMobi has become operationally profitable after a successful 2016 due to growth in China.
The firm did not provide exact figures for its revenues or profits to back up its statement. It did say however that it had generated cash every quarter for the last year.
As reported by the Economic Times, a source close to InMobi claimed that revenues are expected to be between $425 million and $475 million. It was suggested that the company will close 2016 with an annual profit of $40 million.
Big in China
The boost to its business mainly occurred in China, its second-biggest market which accounts for 28% of its revenues. InMobi has reportedly increased its revenues in the region by 30% in 2016 and plans to invest a further $15 million in the country over the next year.
"You can take long-term bets only if your primary business model is successful," said InMobi CEO Naveen Tewari.
"We got that right in the last 12 to 18 months and turned profitable for 2016. To us, it was a big milestone."