Gross Revenue grew 2.2% for the H1FY23
Challenges Arena: Growth momentum continued; Revenue increased by 634% YoY - 55 customer confirmations and 33 customers live as of 1st Nov 22
ONMO B2B: 18 customer confirmations
Bengaluru, 8th November 2022: OnMobile Global Limited (“OnMobile”), the global leader in mobile entertainment, today announced the financial results for the Second Quarter and Half year of FY23 ended September 30, 2022.
Commenting on Q2FY23 results, Sanjay Baweja, CEO & MD, OnMobile, said, “While we have seen temporary impact on revenue and profitability due to some customer issues, we continue to invest in marketing which will increase our profitability in the medium to long run. Challenges Arena, our mobile quiz & gaming app launched in FY’22, continues to gain substantial traction. Our focused execution, along with our ongoing efforts to digitize our core B2B businesses, positions us well to realize our objective of developing cutting-edge mobile gaming solutions.”
Asheesh Chatterjee, Global Group CFO, said, “Revenue was flat on a YoY basis due to one time Euro depreciation impact and higher marketing spend, but this cost will reduce going ahead. CA is going as per plan, and the cost will stabilize soon. ONMO had a good start and is poised for further growth in the upcoming quarters.”
OnMobile [NSE India: ONMOBILE] [BSE Ltd: 532944], is a global leader in mobile entertainment. Headquartered in Bangalore, India and with a presence in many countries across the world, it is focused on building cutting-edge Mobile Gaming products while also offering a wide array of products such as Videos, Tones, & Contests. Based on current deployments, OnMobile has over 74.7 million monthly users across the globe. For further information, please visit www.onmobile.com