EBITDA grew 6x on QoQ basis to INR 123 Mn

ONMO B2B: Growth momentum continued; revenue grew 13x on YoY basis and 25 cumulative customer agreements were signed by Q1FY24

Bengaluru, 7th August 2023: OnMobile Global Limited (“OnMobile”), the global leader in mobile gaming & entertainment, today announced the financial results for the First quarter of FY24 ended June 30, 2023.

Highlights:

• PAT increased to INR 98 Mn with a margin of 7.2%
• EBITDA at INR 123 Mn with a margin of 9.0% for the quarter
• Q1FY24 revenues at INR 1,396 Mn, marginally up by 3.8% QoQ. Gross profit stood at INR 771 Mn, a growth of 10.0% on YoY basis
• Challenges Arena: Revenue increased by 2x on a YoY basis and grew 22x over the last 9 quarters
• Challenges Arena: 73 cumulative customer confirmations and 54 customers live as on Q1FY24
• Challenges Arena: 21.34 Mn gross subscribers as on Q1FY24
• ONMO B2B: 25 Customers confirmed (10 live). Revenue grew 18% on QoQ basis
• In Q1FY24 Manpower cost decreased by 13.3% QoQ

Commenting on Q1FY24 results, Sanjay Baweja, MD & Global CEO, OnMobile, said, “The quarterly revenue performance has been better than last few quarters, and we are focused to scale it further, for rest of the year. The revenue uptick for ONMO has been encouraging, and it will continue to improve over the upcoming quarters. OnMobile continues to stay focused on profitability, targeting even better results in H2 FY24. We are determined to achieve the objective of creating cutting-edge mobile gaming solutions through our focused execution and continuous efforts to digitize our core B2B business.”

Asheesh Chatterjee, Global Group CFO, said, “Gross revenue saw a modest sequential growth of 3.8%, which is a good start for the FY24. We achieved a significant quarterly growth in EBITDA through cost optimization efforts. Further, our PAT stood at INR 98 Mn, which shows a healthy sign for 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

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