OnMobile Global Limited reported a consolidated net loss of ₹289.23 million for the quarter ended June 30, 2026, marking a 20.8% improvement from the ₹365.34 million loss in the preceding quarter. The financial turnaround was driven by the successful launch of the ONMO+ Smart Console through a partnership with Flipkart on June 26, 2026, which contributed to a 2.4% quarter-on-quarter rise in gaming revenue to ₹394 million. While gross revenue declined 3.8% to ₹1,241 million due to seasonal variations in entertainment services, the company maintained a strong cash position of ₹1,355 million and demonstrated early traction in its expansion into console-grade cloud gaming.

The Board of Directors approved the unaudited results at a meeting held on August 11, 2026, in Bangalore. Statutory auditors B S R & Co. LLP provided an unmodified limited review report. The filing was submitted pursuant to Regulation 30 and Regulation 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Executive Chairman & CEO François-Charles Sirois signed the results from Madrid, highlighting the strategic shift towards higher-arpu gaming segments.

Financial Performance and Segment Breakdown

Consolidated revenue from operations stood at ₹1,227.55 million, slightly below the ₹1,253.30 million recorded in Q1FY26. However, the revenue mix is shifting favorably towards gaming. Gaming revenue reached ₹394 million, representing 32% of total gross revenue, up from 25% in the year-ago period. Entertainment and communication revenue declined 6.5% quarter-on-quarter to ₹846 million.

Operating expenses were managed effectively, with people costs decreasing 1.1% to ₹279 million despite restructuring initiatives. Marketing spend rose 12.4% to ₹229 million, reflecting aggressive promotion of the new smart console. Other operating expenses increased 4.0% to ₹118 million. The company reported an EBITDA of ₹15 million (1.2% margin), which includes launch expenses for the ONMO+ console. In comparison, EBITDA was ₹65 million in Q4FY26.

Exceptional items impacted the bottom line significantly, with headcount restructuring and optimization costs totaling ₹141.44 million on a consolidated basis. Excluding these one-time charges, the operational performance showed resilience. The loss before tax narrowed to ₹229.80 million from ₹401.79 million in the previous quarter.

Strategic Expansion: ONMO+ Smart Console

The launch of the ONMO+ Smart Console represents a pivotal diversification from mobile-only entertainment to the broader console and PC gaming market, which accounts for approximately 50% of the global gaming industry projected to reach $400 billion by 2029. The device allows users to access console-grade gaming on any screen without a $550 upfront hardware cost, leveraging OnMobile’s existing telco distribution and cloud infrastructure.

Early engagement metrics indicate strong user adoption. Desktop and TV platforms drive approximately 75% of sessions, with desktop accounting for 44% and TV for 31%. User stickiness (DAU/MAU) is 1.3x higher than top 10% PC titles, while retention rates are 2.7x higher. Average daily time spent per active player is ~70 minutes, double the PC median of ~35 minutes. The service has reached 226 cities across India, with 56% of users aged 25-34.

Cash Position and Balance Sheet

OnMobile Global closed the quarter with a gross cash balance of ₹1,355 million, down from ₹1,420 million in March 2026. The reduction was primarily attributed to investments in the ONMO+ launch and repayment of borrowings. Total assets stood at ₹9,235 million, with shareholders’ funds at ₹5,855 million. Short-term borrowings decreased to ₹640 million from ₹672 million in the previous quarter.

The company’s current ratio improved to 1.1 from 1.2 in Q4FY26, while liquid assets constituted 33% of total assets. Days Sales Outstanding (DSO) reduced to 121 days from 131 days in the prior quarter, indicating better collection efficiency. International revenue continued to dominate, contributing 98% of total revenue.

What the Numbers Show

The divergence between declining overall revenue and rising gaming-specific metrics highlights a successful strategic pivot. While legacy entertainment services face headwinds, the gaming segment’s growth trajectory—supported by the new ONMO+ hardware—suggests an improving long-term revenue mix. The narrowing net loss, despite heavy upfront investment in console infrastructure and marketing, demonstrates effective cost control in core operations. The high retention and engagement rates of ONMO+ relative to traditional PC titles validate the value proposition of low-barrier cloud gaming in emerging markets.

OnMobile Global Limited company name shareholders approved the appointment of Leo Olebe as an independent director and revised remuneration packages for key executives at the company’s 26th Annual General Meeting (AGM) held on August 11, 2026. The meeting, conducted through video conferencing and other audio-visual means, also saw the ratification of material related-party transactions involving its subsidiaries, signaling continued operational alignment across its global entities.

The proceedings were governed by Regulation 30 and Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. François-Charles Sirois, Executive Chairman & CEO, chaired the meeting, which commenced at 4:00 P.M. IST and concluded at 4:53 P.M. IST. Pramod S M of BMP & Co. LLP was appointed as the scrutinizer for the e-voting process. Remote e-voting was available to members holding shares as of the cut-off date of August 04, 2026, from August 07, 2026, to August 10, 2026.

Key Resolutions Passed

The Board of Directors presented several ordinary and special resolutions for shareholder approval. The primary outcomes included governance updates and executive compensation adjustments:

Related-Party Transactions

Shareholders approved material related-party transactions with three key subsidiaries: OnMo Inc, OnMobile USA LLC, and OnMobile Global Spain S.L. These approvals are critical for maintaining seamless operational workflows and financial settlements between the parent company and its international arms. The company noted that these transactions are necessary for business continuity and were entered into in the ordinary course of business.

What the Numbers Show

The focus on revising remuneration for both the Executive Chairman & CEO and the Whole-time Director & CFO highlights the company’s intent to align executive compensation with performance expectations in FY26. Simultaneously, the appointment of Leo Olebe strengthens the independent oversight mechanism within the Board, ensuring robust governance practices as the company navigates its global operations.