OnMobile Global Limited, the global leader in mobile entertainment, today announced the financial results for the Fourth quarter and Full year FY23 ended March 31, 2023.
Highlights of the Fiscal Results:
- Challenges Arena: Revenue increased by 178% on a YoY basis and grew 22x over the last 8 quarters
- Challenges Arena: 66 cumulative customer confirmations and 42 customers live as on Q4FY23
- Challenges Arena: 17.56 Mn gross subscribers as on Q4FY23
- Challenges Arena: The Net active base remained stable at 3.1 Mn at the end of Q4FY23
- FY23 revenues at INR 5,490 Mn, up by 0.9%; Gross profit at INR 2,780 Mn, a growth of 6.3% YoY basis
- Q4FY23 revenues at INR 1,345 Mn, up by 1.0%; Gross profit stood at INR 702 Mn, a growth of 10.9% YoY basis
- In Q4FY23 Marketing cost grew by 8.5% QoQ and 45.3% YoY primarily due to investments in new launches
- In Q4FY23 Manpower cost decreased by 3.7% QoQ
Commenting on Q4FY23 results, Sanjay Baweja, CEO & MD, OnMobile, said, “We recognize that this has not been a good quarter for us, having said that, we have optimized our resources and are scaling up our new products which will reflect in good revenue growth in the current year with much higher profitability. We have launched our first-ever SaaS-based gamification platform ‘Gamize’ to diversify our portfolio. Our focused execution and ongoing efforts to digitize our core B2B business positions us well to achieve the goal of developing cutting-edge mobile solutions.”
