Page 1

Yandex Yandex Announces Third Quarter 2021 Financial Results MOSCOW and AMSTERDAM , the Netherlands , October 27 , 2021 -- Yandex ( NASDAQ and MOEX : YNDX ) , one of Europe's largest internet companies and the leading search and ride - hailing provider in Russia , today announced its unaudited financial results for the third quarter ended September 30 , 2021 Q3 2021 Financial and Operational Highlights 1,2 In RUB millions Three months ended September 30 , 2020 2021 Change like - for - like basis Total Group on a including Yandex.Market Total Revenues Online Ad Revenues 59,882 91,305 52 % 33,598 42,605 27 % Online Ad Revenues Ex - TAC 29,042 35,730 23 % Total Adjusted EBITDA 14,847 5,622 -62 % Total Adjusted EBITDA margin , % 24.8 % 6.2 % -18.6 pp in 2020 Net income / ( loss ) 21,688 ( 3,908 ) n / m Adjusted Net Income 7,506 1,340 -82 % Share of Russian search market , % 59.3 % 59.3 % 0.0 pp Search share on Android , % 58.7 % 58.9 % 0.2 pp Search and Portal³ Revenues 32,072 42,713 33 % Revenues Ex - TAC 26,975 35,075 30 % Adjusted EBITDA 16,781 20,684 23 % Adjusted EBITDA margin , % 52.3 % 48.4 % -3.9 pp Revenues 18,552 34,011 83 % Rides YoY growth in the Ride - hailing service , % 22.0 % 44.2 % 22.2 pp GMV4 of Ride - hailing 93,722 151,987 62 % Taxi ( MLU ) GMV of FoodTech 9,524 21,206 123 % GMV5 of Logistics 2,317 7,877 240 % Total MLU Adjusted EBITDA 1,740 1,223 -30 % Ride - hailing Adjusted EBITDA margin ( as % of 3.0 % 2.8 % -0.2 pp GMV ) Total E - Commerce GMV6 13,307 41,827 214 % Yandex.Market Yandex.Market marketplace GMV 10,145 31,620 212 % Yandex.Market Adjusted EBITDA ( 1,221 ) ( 11,673 ) n / m Media Services Zen Yandex Plus subscribers , MM 5.1 10.3 102 % Zen DAU , MM 18.2 20.6 13 % Share of video as % of time spent on Zen 19.0 % 40.0 % 21.0 pp ( 1 ) Pursuant to SEC rules regarding convenience translations , Russian ruble ( RUB ) amounts have been translated into U.S. dollars at a rate of RUB 72.7608 to $ 1.00 , the official exchange rate quoted as of September 30 , 2021 by the Central Bank of the Russian Federation . ( 2 ) The following measures presented in this release are " non - GAAP financial measures " : ex - TAC revenues , adjusted EBITDA , adjusted EBITDA margin , adjusted net income , adjusted net income margin , financial results on a like - for - like basis including Yandex.Market in the prior year period . Please see the section " Use of Non - GAAP Financial Measures " below for a discussion of how we define these measures , as well as reconciliations at the end of this release of each of these measures to the most directly comparable U.S. GAAP measures . ( 3 ) In Q3 2021 we transferred Yandex . TV from Search & Portal to Other Business Units and Initiatives segment . This change is applied retroactively to all periods presented . ( 4 ) GMV ( or gross merchandise value ) is the value of orders delivered ( and settled by customers ) recognized on the date of delivery at their final prices , including VAT . ( 5 ) GMV of Yandex . Delivery ( Logistics ) is defined as total transaction amounts paid by individual users and B2B clients for a last - mile delivery service , including VAT and excluding any adjustment for consumer discounts and refunds , partner ( Driver / Courier ) earnings and partner incentives . ( 6 ) E - Commerce GMV is defined as the value of all merchandise sold through our Yandex.Market marketplace and Yandex . Lavka as well as the value of grocery products sold through Yandex . Eats ( delivered and paid for ) including VAT . 1