Challenges Arena: Revenue doubling every quarter and 26 cumulative customer agreements by March’22
Mumbai : OnMobile Global Limited (“OnMobile”), the global leader in mobile entertainment, today announced the financial results for the fourth quarter and full year of FY22 ended March 31, 2022.
Highlights:
- Challenges Arena: Revenue has been doubling every quarter; achieved a mark of over INR 3.5 crore monthly revenue in March’22
- Challenges Arena: 26 cumulative customer agreements by March’22, up 24% QoQ
- Challenges Arena: Now live with 16 Operators cumulative in Q4 FY’22 as compared to 8 in Q3 FY’22, reflecting a growth of 100% QoQ
- Challenges Arena: 4.4 Mn cumulative gross additions of subscribers by March 2022
- Challenges Arena: Net active base doubled every quarter in FY22 – Q4FY22 net active base increased to 1.33 Mn from 0.14 Mn in Q1FY22
- ONMO: Launched B2C Cash battles in India
- ONMO: Launched in Chingari beta and will ramp up to the entire user base soon
- Chingari investments: valuation doubled as compared to the initial investment
- FY’22 revenue stood at INR 544.3 crore, a de-growth of 5.5% YoY primarily impacted by Euro depreciation and customer-driven policies in Spain, which have since been mitigated
- Marketing cost grew by 50.9% YoY to INR 39.8 crore for FY’22 on account of investments in new launches resulting in lower EBITDA
- EBITDA at INR 45.9 crore with a margin of 8.8% for FY’22
Commenting on FY22 results, Sanjay Baweja, CEO & MD, OnMobile, said, “We are happy with the year’s overall performance and the quarter gone by. We are on a transformational journey as we pivot our focus to mobile gaming. We have launched ONMO our social esports mobile gaming platform. Challenges Arena, our mobile quiz gaming app launched earlier, has shown huge growth during the year. We will continue to see significant demand for eSports and social gaming. Our vision is to build cutting-edge mobile gaming products while simultaneously working on digitizing our core B2B businesses.”
Asheesh Chatterjee, Global Group CFO, said, “We are pleased to report another quarter of consistent growth in our new endeavours while maintaining margins. Our revenue stood at INR 544 crores for FY22. Cost optimization efforts continued and we managed to sustain EBITDA margin at 8.8% for FY’22”