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 9MFY24

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

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 65 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 70.5 Million monthly users globally. For further information, please visit www.onmobile.com

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