India Consumer Services Steady-state Margin Target: 9-10% of NTV
International Margin Target: To reach India's steady-state levels of 9-10% of NTV
Native Business: Expected to approach Adjusted EBITDA breakeven over next few quarters
KSA JV: Expected to break even over next few quarters
Business Highlights and Strategy
Growth Drivers: Densification, quality improvement, partner productivity leading to faster delivery, cheaper services, and better quality
Tier 2 Strategy: Focus on supply onboarding, widening serviceable coverage, and expanding categories
International Expansion: UAE and Singapore delivering profitable growth; KSA scaling rapidly
Native Product Launches: Test launched Native M3 Pro (3-year life water purifier) and Lock Ultra (smart lock with facial recognition)
InstaHelp Strategy: Prioritizing market leadership over profitability in category development phase
Definitions and Non-GAAP Measures
Adjusted EBITDA: Profit/(loss) before tax less other income, plus finance costs, depreciation, amortization, share-based payment expense, inventory loss on account of fire, listing expenses, share of net loss of joint venture, and less payment of lease liabilities
NTV: Net Transaction Value represents sum of NTV from services and Native products
Contribution Profit: Revenue from operations less specific direct costs including cost of services, cost of goods sold, support costs, incentives, and other direct expenses
