Financial Results Q1 FY27 (Quarter ended June 30, 2026)

Revenue Performance:

  • Gross Revenue: INR 1,241 Million, representing a decrease of 3.8% quarter-on-quarter (QoQ)
  • Gaming Revenue: INR 394 Million, showing growth of 2.4% QoQ
  • Entertainment & Communication Revenue: INR 846 Million, declining 6.5% QoQ
  • International revenue contribution: 98% of total revenue

Profitability Metrics:

  • EBITDA: INR 15 Million (1.2% margin), which includes ONMO+ launch expenses
  • Q4 FY26 EBITDA comparison: INR 65 Million
  • PAT: (INR 289 Million) [loss]
  • Gross profit margin: 52% of revenue

Expense Breakdown:

  • People cost: INR 279 Million (-1.1% QoQ)
  • Marketing expense: INR 229 Million (+12.4% QoQ)
  • Other operating expenses (Opex): INR 118 Million (+4.0% QoQ)
  • Aggregate employee costs: 22% of revenue

Product Development & Business Update

ONMO+ Smart Console Launch:

  • Launched through Flipkart partnership on June 26, 2026
  • First cloud-gaming hardware subscription onboarded by Flipkart, India's #1 e-commerce platform
  • Product positioned alongside major consumer electronics brands on Flipkart
  • Advanced discussions ongoing with retail partner groups

Gaming Business Performance:

  • Target to reach $3M Monthly Recurring Revenue (MRR)
  • Expansion from mobile gaming into console gaming market
  • Shared infrastructure stack with marginal incremental investment

User Engagement Metrics (ONMO+):

  • Reached 226 cities across India including Kolkata, Lucknow, Cuttack, Faridabad, Hosur, Ernakulam, Thane, and Bhubaneshwar
  • Desktop + TV usage drives approximately 3 in 4 sessions (75%)
  • 75% of users play 5+ titles
  • 45% of users play 10+ titles
  • Approximately 1 in 6 activations (non-bundle) come organically through company's own store

Cash Position and Balance Sheet

Gross Cash Balance Movement (INR Million):

  • Q2 FY25: 413 | Q3 FY25: 336 | Q4 FY25: 402 | Q1 FY26: 1,086 | Q2 FY26: 1,295 | Q3 FY26: 1,385 | Q4 FY26: 1,420 | Q1 FY27: 1,355

Q1 FY27 Cash Movement:

  • Decrease in cash mainly due to investments in ONMO+ and repayment of borrowings
  • Closing cash position: INR 1,355 Million

Balance Sheet Position (INR Million):

  • Total Assets: 9,809 | Total Liabilities: 9,809
  • Fixed Assets (including Intangibles): 3,033
  • Investments: 671
  • Non-Current Assets: 2,223
  • Cash and Cash Equivalents: 1,355
  • Trade Receivables & Other Current Assets: 2,461
  • Trade Payables & Current Liabilities: 2,686
  • Short Term Borrowings: 672

Ratio Analysis Q1 FY27

Profitability Ratios:

  • Revenue per Employee: INR 4,310,000
  • EBITDA per Employee: INR 52,000
  • Profit before tax (PBT) to revenue: -7%

Liquidity & Efficiency Ratios:

  • Current Ratio: 1.1
  • Day's Sales Outstanding: 121 days
  • Liquid assets to total assets: 33%
  • Liquid assets to total sales ratio: 2.5

Operational Highlights

  • The company maintains established telco partnerships
  • Expansion into console gaming market represents new growth engine
  • Distribution channels expanded through Smart Console launch
  • Currency conversion rates: Q3FY25 USD = 83 INR, Q4FY26 & Q1FY27 USD = 94 INR