OnMobile Global announced Q1FY23 results:
- Challenges Arena: Revenue increased by 11 times on YoY basis
- Challenges Arena: 38 cumulative customer agreements for Challenges Arena by June’22 (20 live as on Q1FY23)
- Challenges Arena: Now live with 20 Operators cumulative in Q1FY23 as compared to 16 in Q4FY22, reflecting growth of 25% QoQ
- Challenges Arena: 6.7 million cumulative gross additions of subscribers by June’22
- Challenges Arena: Q1FY23 net active base increase to 1.66 million from 1.33 million in Q4FY22
- ONMO B2B: 12 Customers confirmed (3 live).
- Q1FY23 revenue stood at Rs 141.0 crore, an increase of 5.9% QoQ and 4.4% YoY; Gross profit for the quarter increased by 9.0% QoQ
- Manpower cost grew by 15.3% QoQ to Rs 32.1 crore primarily due to rise in hiring costs and investment in specific talent skills
- Marketing cost grew by 15.7% QoQ and 103.7% YoY to Rs 16.2 crore primarily due to investments in our new product lines- ONMO and Challenges Arena
- EBITDA at Rs 7.8 crore with a margin of 5.8% for the quarter.
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.”