Financial Performance Summary

Revenue Performance

  • Revenue From Operations Q4 FY26: ₹20.5 Cr (-3% YoY from ₹21.14 Cr in Q4 FY25)
  • Revenue From Operations FY26: ₹84.0 Cr (-0.6% YoY from ₹84.47 Cr in FY25)
  • Total Income Q4 FY26: ₹22.2 Cr (-2% YoY)
  • Total Income FY26: ₹90.1 Cr (-0.3% YoY)

Profitability Metrics

  • EBITDA Q4 FY26: -₹4.1 Cr (deteriorated from -₹3.3 Cr YoY)
  • EBITDA FY26: -₹6.6 Cr (improved from -₹7.4 Cr YoY)
  • PAT Q4 FY26: -₹2.3 Cr (improved from -₹2.8 Cr YoY)
  • PAT FY26: -₹0.6 Cr (improved from -₹5.5 Cr YoY)

Segment Performance

  • India Revenue FY26: ₹38.2 Cr (+₹4.7 Cr YoY, +14% growth)
  • International Revenue FY26: ₹45.8 Cr (-₹5.2 Cr YoY, -10% decline)
  • International revenue contribution: 55% of total revenue

Expense Breakdown (FY26)

  • Total Expenses: ₹90.7 Cr
  • Employee Benefit Expenses: ₹79.7 Cr (87.8% of total expenses)
  • Salaries, Wages & Bonus: ₹74.6 Cr (82.2%)
  • Employee Stock Option Expense: ₹3.1 Cr (3.4%)
  • Other Employee Benefit Expenses: ₹2.0 Cr (2.2%)
  • Other Expenses: ₹10.8 Cr (12.0%)
  • Cloud Hosting Charges: ₹2.8 Cr (3.1%)
  • Rent for Building: ₹2.5 Cr (2.7%)
  • Remaining Other Expenses: ₹5.5 Cr (6.1%)
  • Depreciation Expense: ₹0.2 Cr (0.2%)

Balance Sheet Position (as at March 31, 2026)

  • Total Assets: ₹98.20 Cr (down from ₹110.73 Cr YoY)
  • Cash and Cash Equivalents: ₹1.87 Cr (current assets)
  • Investments: ₹87.15 Cr (current assets)
  • Trade Receivables: ₹2.50 Cr
  • Total Equity: ₹52.55 Cr (down from ₹65.80 Cr YoY)
  • Equity Share Capital: ₹10.67 Cr
  • Reserves and Surplus: ₹41.88 Cr
  • Contract Liabilities: ₹33.21 Cr (current liabilities)

Cash Flow Statement (FY26)

  • Net Cash Flow from Operating Activities: -₹3.30 Cr
  • Net Cash Flow from Investing Activities: ₹9.89 Cr
  • Net Cash Flow from Financing Activities: -₹8.36 Cr
  • Net Decrease in Cash and Cash Equivalents: -₹1.77 Cr

Operational Metrics and KPIs

Customer Metrics

  • Customer Accounts (#): 2,289 (+19% YoY)
  • Users (#): Growing (specific numbers not quantified)
  • Organic Search Traffic: 26.2M visits in FY26
  • Tracxn Lite Signups: 285K in FY26
  • Press Mentions: 4,000+ in FY26 (37% increase YoY)

Platform Coverage

  • Entities Profiled: Increased by 72% YoY (in millions)
  • Company Financials Coverage: 6M+ companies across 20+ countries (9X growth)
  • Company Captables Coverage: 770K+ companies across 15+ countries (10X growth in ~2 years)
  • Legal Entities Database: ~66M entities across key geographies
  • Private Company Financials in India: >10X growth in FY26

Geographic Coverage

  • Customers span: 50+ countries
  • Top 5 countries by customer accounts: India, USA, UK, Singapore, Germany
  • Organic traffic top countries: India, US, UK, Canada, Germany

Key Business Developments and Initiatives

Growth Initiatives

1. India Geo Expansion: Significant investments in expanding datasets including private company financials (10X growth), legal entities coverage (3.5M with detailed data), company coverage (0.7M, up 41% YoY), captables (90K, ~3x YoY)

2. International BU Expansion:

  • UK: Private company financials expanded to 4.6M+ entities (~14x YoY), company coverage increased ~4x
  • US: Company coverage increased 45% YoY, funding transactions grew ~5x YoY to 1.2M+, headcount data expanded to 850K companies (8x in 2 years)
  • Other geos: Launched financial reports for Germany, Singapore, Czech Republic

3. Sales Team Scaling:

  • GTM team now ~30% of total headcount (up from 23% in FY25)
  • Plan to nearly double closing sales team headcount from ~25 to 40 across India and international teams
  • Sales partnerships (e.g., with TMX) to penetrate enterprise accounts

Vertical Business Unit Performance

  • Investment Banks: India logo penetration growing ~1% MoM with 28%+ market share; accounts up 40%+ YoY; India revenue up 19% YoY; international accounts grew 35%+ YoY
  • Corporate Sales: Accounts grew 35%; India accounts grew 45%; India revenue grew ~30% YoY
  • Universities: India customer count increased 55+%; revenue grew 60+% YoY
  • Startups: India accounts grew 45+%; revenue grew 20+% YoY

Product Development

  • AI-Native Access: Launched Tracxn MCP for Claude integration allowing paid users to access Tracxn data within Claude and AI workflows
  • Upcoming AI-Assistant: Chat-based assistant on platform for data querying, company due diligence, competitive landscaping, market analysis
  • Platform Enhancements: Expanded legal entity reports, corporate tree structures (60K+ entities), people database (2.6M directors), pincode data (2.7M legal entities), CXO data (120K)

Forward-Looking Initiatives (FY27 Focus)

1. India Geo: Accelerated growth through expanded datasets and vertical team scaling

2. International Geo: Impact expected from Q1 onwards with dataset investments and sales team expansion

3. AI-Native Access: Expected to begin contributing to revenue in FY27 through Claude integration, AI-Assistant, and partnerships

4. Regulatory Data Expansion: Deepening coverage across financials, captables, transactions, LP data

Corporate Governance

Board of Directors:

  • Neha Singh (Chairperson and MD) - IIT Bombay, Stanford GSB, ex-BCG & Sequoia Capital
  • Abhishek Goyal (Vice Chairman and ED) - IIT Kanpur, ex-Accel, Amazon
  • Nishant Verman (Independent Director) - CEO Overleap Networks, ex-Flipkart
  • Brij Bhushan (Independent Director) - Partner Prime Venture Partners
  • Payal Goel (Independent Director) - Google India, ex-Flipkart
  • Rohit Jain (Independent Director) - Managing Partner JSM Advisors

Senior Management:

  • Prashant Chandra (CFO) - IIT Kanpur, IIM Lucknow, ex-Infosys
  • Amit Agarwal (COO) - XLRI, ex-Amba Research, Goldman Sachs
  • Neeraj Chopra (CTO) - MS University of Pune, ex-Amazon
  • Bhaskar Sharma (Chief Product Officer) - IIT Kharagpur, ISB, ex-Nomura

Investors: Includes Ratan N Tata, Sachin Bansal, Binny Bansal, Neeraj Arora, Girish Mathrubootham, Anand Rajaramnan, Amit Ranjan

Market Context

  • Global Tech Funding: Showing signs of recovery though deal volumes remain subdued
  • Global M&A: 2026 YTD shows strong momentum, could become second-highest year after 2021 peak
  • IB M&A Advisory Fees: 2026 YTD off to strong start, likely second-highest in decade
  • Private Market AUM: Expected to cross $15T by 2028 (17% growth)
  • Financial Data Market: Cumulative revenue of financial market data companies over $40B+ for 2025

Definitions and Notes

  • Customer Accounts: Distinct contracts with each customer
  • Users: Activated user accesses excluding bulk users like educational institutes
  • Contract Price: Net invoicing adjusted for refund liabilities
  • EBITDA: Calculated as Profit/(loss) minus Other Income and Other gains/losses net, plus Depreciation, plus Finance Costs, plus Income Tax Expense
  • PAT excluding adjustments: Profit/(loss) plus Deferred Tax adjustments plus Statutory impact of new Labour Codes
  • Exceptional Items: ₹1.30 Cr statutory impact of new Labour Codes in FY26