02/06/2023 | Press release | Distributed by Public on 02/06/2023 12:41
Challenges Arena: The expansionary trend continued; revenue grew 21x since its launch and 62 cumulative customer agreements by Q3FY23
Bengaluru, 6th February 2023: OnMobile Global Limited ("OnMobile"), the global leader in mobile entertainment, today announced the financial results for the Third quarter and Nine months FY23 ended December 31, 2022.
Commenting on Q3FY23 results, Sanjay Baweja, CEO & MD, OnMobile, said, "Revenue was flat on a sequential basis. According to our strategy, we will continue to invest in marketing to increase our profitability in the long run. The worst is behind us, and CA and ONMO are gaining traction. We are well-positioned to achieve our goal of creating cutting-edge mobile gaming solutions thanks to our targeted execution and continued efforts to digitize our core B2B businesses."
Asheesh Chatterjee, Global Group CFO, said, "EBITDA saw substantial growth from last quarter, lead by improvement in gross margins on account of revenue mix increasing in favor of CA which has higher margin. We are making good progress in both CA & ONMO and would see CA contributing to profitability and ONMO towards revenue growth in the coming 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