OnMobile Reports Fourth Quarter of Fiscal Year 2024 Results

Bengaluru, 15th May 2024: OnMobile Global Limited (“OnMobile”), the global leader in mobile gaming & entertainment, today announced the financial results for the Fourth quarter of FY24 ended March 31, 2024.Highlights:

  • Q4FY24 revenue at INR 1,252 Mn, up 2.4% QoQ
  • Q4FY24 Gross Profit improved to INR 643 Mn at 52.4% , up 8.8% QoQ
  • Q4FY24 EBITDA at INR 34 Mn vs INR 2 Mn last quarter
  • FY24 people cost reduced by 19.2% to INR 1,082 Mn vs INR 1,339 Mn in FY23
  • FY24 EBITDA at INR 283 Mn vs INR 127 Mn in FY23, up 122%
  • Mobile Gaming revenue increased by 19.5% YoY to INR 804 Mn during FY24
  • 6.75 Mn net active subscriber base in mobile gaming in Q4 FY24; increase of 26% QoQ
  • DSO is at 94 days compared to 105 days in Q3 .

Commenting on Q4FY24 results, François-Charles Sirois, Executive Chairman & Managing Director & Global CEO, OnMobile, said, Mobile gaming revenue has grown by 12.6% QoQ with a total net active subscriber base of 6.75 mn, a growth of 26% QoQ. Till date we have signed 155 customers and out of which 101 are live. We continue to optimize our marketing spends in all deployed customers. With all these carrier relationships, we will emphasise on strategic deals related to core B2B operations. ”

Radhika Venugopal, Global CFO, OnMobile said, “On full year basis, both EBITDA and PAT increased significantly, exceeding 100% YoY growth majorly due to our cost optimization efforts. Our Gaming Business continues to experience consistent growth. We expect this increase to boost both revenue and profitability in FY25.

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