Moatable Stock Price, News & Analysis

Moatable, Inc. (MTBLY) is a technology company in the Software – Application industry whose American depositary shares (ADSs), each representing forty-five Class A ordinary shares, trade on the OTC Pink open market under the symbol MTBLY. The company is described in its public communications as a US-based SaaS company and an operator of several US-based SaaS businesses.

According to its press releases, Moatable operates two US-based SaaS businesses, including Lofty and Trucker Path. These operations form the core of its software-as-a-service activities. The company reports its performance primarily through SaaS revenue and a smaller category of other services, reflecting its focus on subscription-based software offerings.

Business focus and operations

Moatable’s public financial disclosures emphasize SaaS revenue, which constitutes the vast majority of its total revenues, alongside a limited amount of other services revenue. Its communications highlight metrics such as gross profit, loss from operations, and a non-GAAP measure called Adjusted EBITDA, which the company defines as loss from operations excluding share-based compensation, depreciation and amortization, impairment of intangibles, and certain other non-recurring expenses. This focus indicates that management and investors track both GAAP and non-GAAP operating performance measures.

The company has repeatedly characterized itself as a leading US-based SaaS company in its earnings and transaction-related press releases. It also notes that its SaaS businesses are US-based, while its corporate structure includes subsidiaries such as Moatable US Holdco, Inc., Lofty, Inc., and Trucker Path, Inc., as referenced in its regulatory filings.

Capital markets and trading venue

Moatable’s ADSs are quoted over-the-counter on the Pink Limited Market under the trading symbol MTBLY. The company has used ADSs as the primary way for investors to hold its Class A ordinary shares, with each ADS currently representing forty-five Class A ordinary shares, par value $0.001 per share. This ADS structure is referenced consistently across its financial results announcements and regulatory filings.

Moatable has undertaken capital allocation actions that affect its share structure. In 2025, the company announced and executed a fixed price tender offer to repurchase up to 225,000,000 Class A ordinary shares (including those represented by ADSs) at a specified cash price per ADS. Final results disclosed that Moatable accepted for purchase tens of millions of Class A ordinary shares (including those represented by ADSs), representing a significant percentage of its outstanding Class A ordinary shares and total share capital. The company has also declared a special cash dividend per ordinary share and per ADS, funded from its cash position, with details on record dates, payment dates, and due-bill trading mechanics set out in its press releases.

Financial reporting and performance metrics

In its quarterly and annual financial results, Moatable reports:

• Total revenues, split between SaaS revenue and other services.
• Cost of revenues for its SaaS business and other services.
• Gross profit, operating expenses (selling and marketing, research and development, general and administrative, and impairment of intangible assets), and loss or gain from operations.
• Non-GAAP Adjusted EBITDA, reconciled from loss or gain from operations by adjusting for share-based compensation, depreciation and amortization, impairment of intangibles, certain corrections of prior period or prior year errors, provisions for insurance reimbursements receivable, arbitration fees, and other specified items.

Moatable’s press releases describe trends over multiple quarters, including periods of revenue growth, changes in gross profit, improvements in loss from operations, and shifts in Adjusted EBITDA from losses to profits. The company also discloses its cash, cash equivalents and restricted cash balances at period ends, providing insight into liquidity and capital resources.

Corporate actions and financing

Moatable’s public disclosures describe several notable corporate and financing actions:

• A special cash dividend per ordinary share and per ADS, with the dividend funded from the company’s existing cash position. The announcement specifies the record date, expected payment date, ex-dividend date, and the role of due-bills for ADS trading around the dividend payment.
• A tender offer to repurchase up to 5,000,000 ADSs (each representing forty-five Class A ordinary shares) at a fixed cash price per ADS, with no minimum tender condition but subject to various terms and conditions described in an Offer to Purchase and related documents filed with the SEC.
• A new senior secured credit facility in the principal amount of $9.75 million, entered into by Moatable US Holdco, Inc., Lofty, Inc., and Trucker Path, Inc. as borrowers, with PNC Bank, National Association as lender. An 8-K filing explains that the proceeds of this credit facility are intended to fund all or a portion of the purchases of Class A ordinary shares (including those represented by ADSs) in the tender offer. The filing also describes key terms such as maturity date, interest rate based on Daily Simple SOFR plus specified spreads, a commitment fee on unused amounts, cash collateralization, and customary covenants and events of default.

Regulatory reporting status

Moatable has taken steps regarding its obligations under the Securities Exchange Act of 1934. A Form 15 filing indicates that the company has certified the termination of registration or suspension of the duty to file reports for its ADSs under Section 12(g) or Sections 13 and 15(d) of the Exchange Act, relying on Rule 12h-3(b)(1)(i). The filing notes an approximate number of holders of record as of the certification date, which is consistent with earlier disclosures that the company’s Class A ordinary shares and ADSs were held of record by fewer than 300 persons.

In earlier communications about its tender offer, Moatable stated that, because its Class A ordinary shares and ADSs were held by less than 300 persons, it was eligible to voluntarily suspend its reporting obligations and was considering whether to do so after completion of the tender offer. The Form 15 filing provides formal notice of this change in reporting status.

Geographic and corporate context

Moatable describes itself as a US-based SaaS company and an operator of several US-based SaaS businesses. Its 8-K filing identifies Moatable, Inc. as a company organized in the Cayman Islands, with principal executive offices in Phoenix, Arizona. Subsidiaries referenced in filings include Moatable US Holdco, Inc., Lofty, Inc., and Trucker Path, Inc. The company has also disclosed a transaction in which a subsidiary, Lofty Inc., entered into a definitive stock purchase agreement to acquire all of the issued share capital of a UK-based letting agent services company, subject to customary closing conditions.

Use of non-GAAP measures

Across multiple financial releases, Moatable emphasizes that it uses Adjusted EBITDA as a supplemental non-GAAP measure. The company explains that management uses this metric to assess performance and for planning and forecasting, and that it believes the measure helps readers understand past financial performance and prospects. Each release includes a reconciliation table from GAAP loss or gain from operations to Adjusted EBITDA, and notes that non-GAAP measures should not be considered a substitute for GAAP financial information and may differ from similarly titled measures used by other companies.

Moatable stock on Stock Titan

On Stock Titan’s overview page for MTBLY stock, readers can find a consolidated view of Moatable’s business profile based on its public disclosures. This includes its identity as a US-based SaaS operator, its focus on SaaS revenue, the role of Lofty and Trucker Path within its operations, and its use of ADSs trading on the OTC Pink market. Investors can also see references to its capital allocation actions, such as special dividends and tender offers, and its decision to suspend periodic SEC reporting as documented in its Form 15 filing.

FAQs about Moatable, Inc. (MTBLY)

• What does Moatable, Inc. do?
  
  Moatable, Inc. describes itself as a US-based SaaS company and an operator of several US-based SaaS businesses. According to its public disclosures, it operates two US-based SaaS businesses, including Lofty and Trucker Path, and generates most of its revenue from SaaS activities.
• How is Moatable’s stock structured and where does it trade?
  
  Moatable’s American depositary shares, each representing forty-five Class A ordinary shares, trade over-the-counter on the OTC Pink open market under the symbol MTBLY. The company has used ADSs as the primary way for investors to hold its Class A ordinary shares.
• What are Moatable’s main revenue categories?
  
  In its financial statements, Moatable reports revenue primarily as SaaS revenue, with a smaller category labeled other services. These categories are used in its quarterly and annual results to present total revenues and related cost of revenues.
• What is Adjusted EBITDA and how does Moatable use it?
  
  Moatable defines Adjusted EBITDA as loss from operations excluding share-based compensation expenses, depreciation and amortization expenses, impairment of intangibles, and certain other non-recurring expenses. The company states that management uses Adjusted EBITDA to assess performance and for planning and forecasting, and it provides reconciliations from GAAP loss or gain from operations to Adjusted EBITDA in its financial releases.
• What capital allocation actions has Moatable taken?
  
  Moatable has announced a special cash dividend payable to holders of its ordinary shares and ADSs, funded from its cash position. It has also launched and completed a fixed price tender offer to repurchase a significant number of Class A ordinary shares (including those represented by ADSs) at a specified cash price per ADS, as described in its press releases and tender offer documents.
• Has Moatable used debt financing in connection with share repurchases?
  
  Yes. An 8-K filing describes a $9.75 million senior secured credit facility entered into by Moatable US Holdco, Inc., Lofty, Inc., and Trucker Path, Inc. as borrowers, with PNC Bank, National Association as lender. The filing states that the proceeds from this credit facility will fund all or a portion of the purchases of Class A ordinary shares (including those represented by ADSs) in the company’s tender offer.
• What is Moatable’s SEC reporting status?
  
  Moatable filed a Form 15 to certify the termination of registration or suspension of its duty to file reports for its ADSs under the Securities Exchange Act of 1934, relying on Rule 12h-3(b)(1)(i). Earlier, the company had noted that its Class A ordinary shares and ADSs were held of record by fewer than 300 persons and that it was eligible to consider suspending its reporting obligations.
• What corporate structure and subsidiaries does Moatable reference?
  
  In its filings, Moatable identifies itself as a company organized in the Cayman Islands with principal executive offices in Phoenix, Arizona. Subsidiaries referenced include Moatable US Holdco, Inc., Lofty, Inc., and Trucker Path, Inc., which are involved in operating its SaaS businesses and in the credit facility arrangement described in its 8-K.
• Has Moatable announced any acquisitions?
  
  Moatable has disclosed that Lofty Inc., a subsidiary of the company, entered into a definitive stock purchase agreement to acquire all of the issued share capital of The Letting Partnership Ltd, a company incorporated in England and Wales that provides client accounting outsourcing for the lettings industry. The transaction is subject to customary closing conditions.
• Does Moatable still file periodic reports such as Forms 10-K and 10-Q?
  
  Moatable’s Form 15 indicates that it has taken steps to terminate registration or suspend its duty to file reports for its ADSs under the Exchange Act. In earlier communications, the company stated that, if it decided to suspend its reporting obligations, it would no longer file periodic reports such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. The Form 15 filing formalizes this change in reporting obligations.