Challenges Arena: Growth momentum continued; revenue grew 22x since its launch and 66 cumulative customer agreements by Q4FY23
Bengaluru, 30th May 2023: OnMobile Global Limited (“OnMobile”), the global leader in mobile entertainment, today announced the financial results for the Fourth quarter and Full year FY23 ended March 31, 2023.
Commenting on Q4FY23 results, Sanjay Baweja, CEO & MD, OnMobile, said, “We recognize that this has not been a good quarter for us, having said that, we have optimized our resources and are scaling up our new products which will reflect in good revenue growth in the current year with much higher profitability. We have launched our first-ever SaaS-based gamification platform ‘Gamize’ to diversify our portfolio. Our focused execution and ongoing efforts to digitize our core B2B business positions us well to achieve the goal of developing cutting-edge mobile solutions.”
Asheesh Chatterjee, Global Group CFO, said, “Our Q4 FY23 revenues are up by 1% and gross profit is up by 10.9% on year-on-year basis. Overall profitability declined due to one-time severance cost which will contribute to higher profitability and efficiency in the coming months. Gaming vertical constitutes 12% of FY23 gross revenues. CA and ONMO are going as per plan and we are poised for further growth in the upcoming quarters.”
Consolidated Financial Press Release
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