OnMobile Reports Third Quarter of Fiscal Year 2024 Results

Nine-month EBITDA of INR 248 Mn at 2.3x YoY

Mobile Gaming: Growth momentum continues; Nine-month revenue grew 38.8% YoY

Bengaluru, 8th February 2024: OnMobile Global Limited (“OnMobile”), the global leader in mobile gaming & entertainment, today announced the financial results for the Third quarter of FY24 ended December 31, 2023

Highlights:

• Q3FY24 revenue at INR 1,222 Mn, down 10.3% QoQ due to reconciliation adjustments with customers recognized last quarter

• Q3FY24 international revenue is 92% of total revenue

• During the quarter, opex cost reduced by 8.6% to INR 114 Mn

• Mobile gaming: 14 operators went live in Q3 FY24 and 89 went live during 9MFY24

• Mobile Gaming: 33.22 Mn gross subscribers as on Q3FY24 and Net active subscribers at 5.34 Mn

• 9MFY24 Gross profit margin stood at 53.2% vs 52.3% YoY

• 9MFY24 EBITDA at INR 248 Mn vs INR 107 Mn in 9MFY23, 2.3x YoY; Operating profit is over 5x YoY

• 9MFY24 PAT at INR 160 Mn, with a margin of 4.1%

• Mobile gaming revenue increased by 38.8% YoY to INR 604 Mn during 9MFY2

Commenting on Q3FY24 results, Sanjay Baweja, MD & Global CEO, OnMobile, said, “This quarter’s topline & profitability got jolted by delayed launches and one-off billings done in the last quarter with some customers. Our gaming business, saw growth with an increase of 38.8% YoY during 9MFY24. “

Radhika Venugopal, VP Finance, said, “For 9MFY24, despite the decline in top-line, EBITDA and Operating profit saw a growth of 2.3x and over 5x on YoY basis respectively. We are witnessing a steady increase in the number of active subscribers for our Gaming Business, which will help us improve revenue & profitability in the coming quarters.”

Consolidated Financial Press Release: