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Exotel crosses 400 Cr revenue in FY23; losses jump 2.5X

EntrackrEntrackr · 1y ago
Exotel crosses 400 Cr revenue in FY23; losses jump 2.5X
Medial

Cloud telephony platform Exotel has been bleeding in pursuit of growth, as evident from its financials for the fiscal year ending March 2023. The company released its annual results this week, originally due on September 30, 2023. Exotel’s revenue from operations grew 32.1% to Rs 420 crore in FY23 from Rs 318 crore in FY22, its consolidated financial statements sourced from the Registrar of Companies (RoC) show. The 13-year-old company offers voice and SMS contact center capabilities for businesses to manage their customer engagement over the cloud. The rendering of internet-enabled cloud communication services was the primary source of revenue for Exotel. Income from software license, chatbot services, and the sale of its products including API(s), browser extension, software development kit, and mobile phone applications were other co-revenue channels for Exotel. The Blume Ventures-backed firm generated 81% of its operating revenue from domestic services, with the remaining revenue coming from Southeast Asia, the Middle East, and Africa in FY23. Moving towards the cost side, employee benefits accounted for 44.2% of the overall expenditure which increased 43.3% to Rs 245 crore in FY23 from Rs 171 crore in FY22. The company’s spending on telephone-postage, legal, marketing (advertising cum promotional), hosting, and other overheads inflated its overall cost by 51.8% to Rs 554 crore in FY23 as compared to Rs 365 crore in FY22. See TheKredible for the complete expense breakdown. The 45% and 65% surge in employee benefits and telephone/postage, respectively, led Exotel to post a 2.5X increase in losses to Rs 109 crore in FY23 from Rs 45 crore in FY22. Notably, the company was making profits during FY21 and FY20. Its ROCE and EBITDA margin worsened to -21.9% and -18.3%, respectively. On a unit level, it spent Rs 1.32 to earn a rupee in FY23. Exotel certainly had a lot of hype and hopes around its future back in 2020, but those hopes seem to have been belied, if we consider the story since then. Slipping into losses aside, the firm has also grown below estimates at the time. Notably, the company had claimed at the time of its last fund raise in 2022 that it is growing at an annualized rate of 70% on a revenue run rate of $50 million, or almost 400 crores. Competition in the cloud telephony business might be one thing, but margins is a bigger issue. FY22-FY23 FY22 FY23 EBITDA Margin -4.88% -18.34% Expense/₹ of Op Revenue ₹1.15 ₹1.32 ROCE -4.70% -21.90% Exotel has raised over $100 million to date including $40 million led by Steadview Capital in 2022. According to the startup data intelligence platform TheKredible, A91 Partners is the largest external stakeholder with a 25.7% stake followed by Blume Ventures. Head to TheKredible for the complete shareholding pattern.

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Exotel posts flat scale in FY24; losses shrink 61%

EntrackrEntrackr · 6m ago
Exotel posts flat scale in FY24; losses shrink 61%
Medial

Fintrackr All Stories Exotel posts flat scale in FY24; losses shrink 61% Exotel’s revenue from operations increased 5.7% to Rs 444 crore in FY24 from Rs 420 crore in FY23, its consolidated annual financial statements sourced from the Registrar of Companies show. Kunal Manchanada 26 Dec 2024 11:55 IST Follow Us New Update Bengaluru-based cloud telephony platform Exotel reported flat growth for the fiscal year ending March 2024. Despite stagnant revenue, the company significantly improved its financial health, narrowing losses by more than 60%. This improvement was driven by strategic cost-cutting measures, particularly in employee benefits and advertising expenses. Exotel’s revenue from operations increased 5.7% to Rs 444 crore in FY24 from Rs 420 crore in FY23, its consolidated annual financial statements sourced from the Registrar of Companies show. Exotel provides cloud-based voice and SMS contact center solutions, enabling businesses to manage customer engagement efficiently. Its primary revenue stream comes from offering internet-enabled cloud communication services. Exotel also makes money through software licensing, chatbot services, and sales of its products, including APIs, browser extensions, software development kits, and mobile applications. Exotel has not provided the income bifurcation of above mentioned- services. However, 14% of its business came from Southeast Asia, the Middle East, and Africa in FY24. The company also added Rs 16 crore mainly from interest on deposits and investments, tallying the overall revenue to Rs 460 crore in FY24, compared to Rs 447 crore in FY23. For the cloud-based voice and SMS contact center firm, the cost of telephone and postage formed 39% of its overall cost which increased 10.2% to Rs 195 crore in FY23. Exotel managed to keep its employee benefits in check, which saw a reduction of 24% in FY24 to Rs 186 crore, as compared to Rs 245 crore in FY23. It’s worth noting that Exotel went through layoff during FY24, reducing its workforce by 15%. Its decreased advertising, legal, payment gateway, traveling, information technology, and other overheads took the total expenditure to Rs 499 crore in FY24 from Rs 555 crore in FY23. See TheKredible for the detailed expense breakup. Despite the modest growth in scale, the company managed to control its expenditures, resulting in its losses shrinking by 60.6% to Rs 43 crore in FY24 from Rs 109 crore in FY23. According to Fintrackr, Exotel’s EBITDA losses stood at Rs 16 crore in FY24. Exotel’s expense-to-revenue ratio was recorded at Rs 1.12, with ROCE and EBITDA margins of -8.9% and -3.48%, respectively. According to the annual statements, its total current assets were registered at 379 crore, with cash and bank balances of Rs 206 crore as of March 2024. The company has raised over $100 million so far including a $40 million Series D round led by Steadview Capital in 2022. According to the startup data intelligence platform TheKredible, A91 Partners is the largest external stakeholder with a 25.7% stake followed by Blume Ventures. Exotel directly competes with Gupshup-owned Knowlarity, MyOperator, Ozonotel, and Tata Communications, and a few others. exotel Advertisment Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here. Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news Subscribe Now Related Articles LIVE ShopKirana struggles to scale in FY24, narrows losses by 30% LIVE LEAD hits Rs 350 Cr revenue milestone in FY24; cuts losses by 56% LIVE Simplilearn cuts losses by 56% in FY24, revenue growth stagnates LIVE Curefoods reports Rs 635 Cr income in FY24, halves losses LIVE Mintifi reports Rs 92 Cr PAT on Rs 384 Cr revenue in FY24 Read the Next Article

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr

EntrackrEntrackr · 6m ago
Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr
Medial

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr Treebo Hotels, a premium-budget hotel chain, crossed the Rs 100 crore revenue milestone in the fiscal year ending March 2024. Despite this growth, the Bengaluru-based company saw its losses rise by 17%, bringing total outstanding losses to Rs 488 crore. Treebo Hotels’s revenue from operations grew 22.5% to Rs 109 crore in FY24 from Rs 89 crore in FY23, its consolidated financial statements filed with the Registrar of Companies show. Income from accommodation services (taken on lease and managed properties) formed 95% of the total operating revenue which increased by 22.3% to Rs 104 crore in FY24 from Rs 85 crore in FY23. The rest of the income comes from the sale of products, and subscription services. The company also added Rs 7.22 crore as other income (non-operating) which tallied its overall revenue to Rs 116 crore in FY24 from Rs 94 crore in FY23. Treebo spent 41% of its overall expenditure on employee benefits which increased marginally by 7% to Rs 59 crore in FY24. Its cost and commission surged 70% and 48% to Rs 17 crore and Rs 43 crore in the previous fiscal year. Its cost of materials, legal, technology, traveling, and other overheads took the overall cost up by 22% to Rs 144 crore in FY24 from Rs 118 crore in FY23. The increased advertising and commission costs led Treebo to raise its losses by 16.7% to Rs 28 crore in FY24, compared to Rs 24 crore in FY23. Its ROCE and EBITDA margin stood at -540% and -18.1% respectively. On a unit level, it spent Rs 1.32 to earn a rupee in FY24. The company’s total current assets stood at Rs 34 crore with cash and bank balances of Rs 7 crore in the previous fiscal. According to startup data intelligence platform TheKredible, decade-old Treebo has secured Rs 566 crore (approximately $70 million) in funding from investors including Accor, Elevation Capital, Matrix Partners, and Bertelsmann. The company’s most recent major funding, amounting to $16 million, was raised in June 2021. Treebo competes directly with Bloom Hotels and FabHotels. In FY24, Bloom Hotels saw its operational revenue rise by 73.6% to Rs 250 crore, with a profit of Rs 14 crore. FabHotels recorded Rs 224 crore in operating revenue for FY23 but has not yet filed its FY24 annual report.

Games24x7 crosses Rs 2,000 Cr income in FY23; controls losses

EntrackrEntrackr · 1y ago
Games24x7 crosses Rs 2,000 Cr income in FY23; controls losses
Medial

Real money gaming platform Games24x7 has continued to grow its scale: their collection grew 70% year-on-year in FY23. The controlled spending on employee benefits and advertising helped the Mumbai-based firm keep its losses in check during the same period. Games24x7’s revenue from operations grew 70.1% to Rs 1,988 crore in FY23 from Rs 1,169 crore in FY22, its consolidated financial statements filed with the Registrar of Companies show. Games24x7 mainly runs RummyCircle and the fantasy sports platform, My11Circle. The platform fee deducted for joining tournaments or contests is the primary source of revenue for Games24x7 which accounted for 99% of the operating income. The rest of the operating revenue comes from selling virtual items in freemium games. The company also added Rs 35 crore from the interest and gain on current investment tallying the overall income to Rs 2,023 crore in FY23. For the gaming platform, advertisement and business promotion expenses accounted for 66% of the overall expenditure, which surged by 61.7% to Rs 1,421 crore in FY23 from Rs 879 crore in FY22. The firm’s burn on employee benefits, legal, traveling, training, recruitment, subscription membership, and other overheads took its overall expenditure up by 43.4% to Rs 2147 crore in FY23. The 70% growth in scale and controlled cost helped the firm’s losses go down to Rs 199 crore in FY23 from Rs 282 crore in FY22. Its ROCE and EBITDA margin improved to -18% and -4.6%, respectively. On a unit level, it spent Rs 1.08 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -24% -4.6% Expense/₹ of Op Revenue ₹1.28 ₹1.08 ROCE -48% -18% Games 24×7 has raised over $107 million to date including its $75 million round led by Malabar Investment at a valuation of $2.5 billion. According to the startup data intelligence platform TheKredible, Tiger Global is the largest external stakeholder with 22.39%. In March, Games24x7’s My11Circle became the new fantasy sports official partner for IPL (Indian Premier League) for five years, outbidding its rival Dream11. Games24X7 also said that it has tripled its marketing investment this year. This will reflect in the company’s financial performance in FY25.

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