Mobvoi Reports 88.5% Revenue Growth in AI Software Products for 2024
Mobvoi Inc. announced its 2024 annual results, highlighting significant growth in its artificial intelligence-generated content (AIGC) pure software products, which saw revenue exceed RMB 220 million.
Hong Kong, China – Mobvoi Inc. (02438.HK) has released its annual results for 2024, underscoring substantial progress in its artificial intelligence-generated content (AIGC) solutions.
The company reported that its AIGC pure software products generated over RMB 220 million in revenue for the year ended December 31, 2024. This represents an 88.5% increase compared to 2023 and now constitutes 56.8% of Mobvoi's total revenue. The company has shifted its strategy to focus on the sustainable growth of its AI productization business.
Mobvoi has been expanding its AIGC offerings, including the AI dubbing assistant "Moyin Workshop" and the AI digital human platform "Weta365". As of the end of 2024, the company reported over 10 million registered users and more than 1 million paid users for its AIGC services, serving a global customer base.
The company's growth is attributed to its "product and model integration" strategy, which involves developing proprietary AI models like "Sequence Monkey" and DeepSeek. This approach allows for faster product development, cost efficiencies, and a data flywheel effect for continuous model improvement. Mobvoi has also upgraded its voice model engine to TicVoice 7.0.