Internet Software & Services company Nazara Technologies announced consolidated Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue of Rs 266.2 crore as against Rs 289.3 crore in Q4FY23 EBITDA increased to Rs 29.3 crore as against Rs 27.8 crore in Q4FY23 EBITDA margin increased by robust 140 bps to 11.0% in Q4FY24 from 9.6% in Q4FY23 PAT (from continued operations) of Rs 17.1 crore as against Rs 11.9 crore in Q4FY24 FY24 Financial Highlights: Revenue grew by 4.3% to Rs 1,138.3 crore as against Rs 1,091.0 crore in FY23 EBITDA increased by 16.6% to Rs 127.9 crore as against Rs 109.8 crore in FY23 EBITDA margin increased by 110 bps to 11.2% in FY24 from 10.1% in FY23 Operating Cash Flow (pre-taxes) was Rs 131.4 crore in FY24 PAT (from continuing operations) increased by 41.2% to Rs 89.5 crore in FY24 as against Rs 63.4 crore in FY23 PAT including discontinued operations increased by 21.8% to Rs 74.8 crore in FY24 as against Rs 61.4 crore in FY23 Net Cash Balance of Rs 1,449 crore as of March 31, 2024 Commenting on the Q4 & FY24 performance, Nitish Mittersain, Founder, CEO & Jt MD of Nazara Technologies stated: “FY24 has been a year of building a strong foundation for rapid future scaling. We achieved a 4.3% revenue growth and a 16.5% EBITDA growth, with our margin improving by 110 bps YoY to 11.2%. Notably, our Operating Cash Flow increased to Rs 131.4 crore, reflecting the company's strong underlying performance. We raised Rs 950 crore at Nazara and subsidiaries, our largest fundraise to date, resulting in a net cash balance of Rs ~1,450 crore. Key initiatives from FY24 are set to yield results in the coming year, including our new publishing platform, new game launches through existing studios, IP partnerships, and a strong M&A; pipeline. Subsidiaries are also successfully adopting our M&A; playbook, with Absolute Sports (Sportskeeda) acquiring Pro Football Network (PFN) in March 2023, doubling PFN business post-acquisition and turning it profitable. Nextwave acquired UTP (a casual card game) in April 2024, and NODWIN Gaming acquired Comic Con India. We are optimistic about FY25, expecting accelerated growth in both revenue and EBITDA. With substantial cash reserves and a robust M&A; pipeline, we are well positioned to seize further growth opportunities and enhance our growth trajectory through strategic M&A; over the next 12 months. We have also announced acquisition of 100% stake in Nextwave Multimedia Private Limited, developers of the popular mobile cricket games under the “World Cricket Championship” franchise.” Result PDF
Conference Call with Nazara Technologies Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Internet Software & Services company Nazara Technologies announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24: Revenue: Increased to Rs 320.4 crore, a 2% growth compared to Rs 314.8 crore in Q3FY23. EBITDA: Rose by 24% to Rs 37.7 crore from Rs 30.5 crore in Q3FY23. EBITDA Margin: Improved by 210 basis points to 11.8% from 9.7% in Q3FY23. PAT (Profit After Tax): Grew by 47% to Rs 29.5 crore versus Rs 20.1 crore in Q3FY23. Consolidated 9MFY24: Revenue: 9% increase to Rs 872.1 crore from Rs 801.7 crore in 9MFY23. EBITDA: 20% growth to Rs 98.7 crore, up from Rs 81.9 crore in 9MFY23. EBITDA Margin: Went up by 110 basis points to 11.3% from 10.2% in 9MFY23. PAT: Increased by 44% to Rs 74.6 crore compared to Rs 51.8 crore in 9MFY23. Fundraising and Cash Balance: Fundraising: The company raised Rs 760 crore through a preferential placement to marquee investors. Proforma Cash Balance: Approximately Rs 1,500 crore, which includes the recent fund raise. Business Segments (9MFY24): Gaming: Contributed 36% of total revenue. eSports: Accounted for 55% of total revenue. Adtech: Made up 9% of total revenue. Geographical Revenue Breakdown (9MFY24): India: 46% of total revenue. North America: 38% of total revenue. Rest of the World: 16% of total revenue. Commenting on the Q3 & 9MFY24 performance, Nitish Mittersain, Founder, CEO & Jt MD of Nazara Technologies stated: “We saw healthy growth in Animal Jam and Sportskeeda resulting in our EBITDA increase by 24% year-on-year and our EBITDA margin increasing from 9.7% in Q3FY23 to 11.8% in Q3FY24, with our esports segment witnessing a remarkable 79% EBITDA growth. Our approach of acquiring global gaming IPs and leveraging focused user acquisition alongside data-driven product innovation is beginning to pay off, as demonstrated by Animal Jam's performance in Q3. We are optimistic this strategy will enable substantial scale-up opportunities we can replicate in the future. We have also completed our FY24 fundraising goal, securing Rs 760 crore through a preferential placement to marquee investors. With significant cash reserves, we're in an excellent position to pursue the exciting acquisition opportunities our team has identified, aiming for strategic expansion in the upcoming quarters. Our Nazara Publishing division has hit the ground running, with its inaugural set of games going live soon. This March, we're proud to lead the Indian delegation at GDC San Francisco, the world's premier gaming conference, and co-host the first ever "India pavilion" marking a significant milestone for us and the Indian gaming community.” Result PDF
Conference Call with Nazara Technologies Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.