Bengaluru: OnMobile Global Limited (“OnMobile”), the global leader in mobile entertainment, today announced the financial results for the Fourth Quarter and Full year FY23 ended March 31, 2023.
Highlights:
- Challenges Arena: Revenue increased by 178% on a YoY basis and grew 22x over the last eight quarters
- Challenges Arena: 66 cumulative customer confirmations and 42 customers live as of Q4FY23
- Challenges Arena: 17.56 Mn gross subscribers as of Q4FY23
- Challenges Arena: The Net active base remained stable at 3.1 Mn at the end of Q4FY23
- ONMO B2B: 19 Customers confirmed (4 live). Revenue grew 2x QoQ
- 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 costs 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 position us well to achieve the goal of developing cutting-edge mobile solutions.”
Asheesh Chatterjee, Global Group CFO, said, “Our Q4 FY23 revenues are up by 1%, and gross profit is up by 10.9% on a year-on-year basis. Overall profitability declined due to one-time severance costs, which will contribute to higher profitability and efficiency in the coming months. Gaming vertical constitutes 12% of FY23 gross revenues. CA and ONMO are going as per plan, and we are poised for further growth in the upcoming quarters.”
Consolidated Financial Press Release:
About OnMobile
OnMobile Global [NSE India: ONMOBILE] [BSE Ltd: 532944], the leader in cutting-edge mobile gaming and entertainment, is headquartered in Bangalore, India, with its presence in over 50 countries across the globe. OnMobile is focused on building customer-first Mobile Gaming products while offering a wide array of digital products such as Videos, Tones, & Contests. Based on current deployments, OnMobile has over 74.7 million monthly users globally.
For further information, please visit www.onmobile.com.
