Gross revenue growth of 5.8% QoQ and 4.4% YoY
Challenges Arena: Revenue continues to grow; increased by 11 times YoY and 38 cumulative customer agreements by June’22
ONMO B2B: 12 customer confirmations, 3 live as on end of June’22
Bengaluru, 3rd August 2022: OnMobile Global Limited ("OnMobile"), the global leader in mobile entertainment, today announced the financial results for the first quarter of FY23 ended June 30, 2022.
Commenting on Q1FY23 results, Sanjay Baweja, CEO & MD, OnMobile, said, “The quarter revenue performance was in line with our expectations, thanks to continued high growth in Challenges Arena. We are investing in marketing for sustained revenue growth, which is impacting profitability temporarily. Our other new gaming product ONMO B2B has started generating revenue from the current quarter. We are confident that our focused execution poise us well to achieve our vision to build cutting-edge mobile gaming products while simultaneously working on digitizing our core B2B businesses.”
Asheesh Chatterjee, Global Group CFO, said, “We are pleased to see a decent start of fiscal year 2023 in our new endeavours. Our revenue increased by 5.9% QoQ to INR 141.0 crore for the quarter. Gross profit witnessed a growth of 9.0% on QoQ basis. Our cost optimization efforts continued and we managed to sustain EBITDA margin at 5.8% for Q1FY23.”
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 80 million monthly users across the globe. For further information, please visit www.onmobile.com