OnMobile Global Limited , a leader in mobile entertainment services, has announced ambitious plans to boost its gaming subscription revenue to $2 million per month through the launch of a new platform. The company aims to leverage its existing base of over 12 million active gamers and strong telecom partnerships to achieve this target in a rapidly growing global gaming market.

Strategic Growth Initiative

OnMobile's strategy focuses on capitalizing on the expanding global gaming industry, which is experiencing a robust 10.5% growth rate. The company's new platform is designed to tap into this growth potential and significantly increase its gaming subscription revenue.

Current Performance and Future Outlook

According to the company's latest financial results:

• OnMobile's gaming subscriber base reached 12.04 million, marking a substantial 58% year-over-year increase and a 13% quarter-over-quarter growth.
• The company's gaming subscription revenue stood at INR 317.00 million, showing a strong 25.2% year-over-year growth.
• Overall mobile entertainment revenue was INR 956.00 million, up by 13% compared to the previous quarter.

These figures underscore OnMobile's strong position in the mobile gaming and entertainment sector, providing a solid foundation for its ambitious revenue target.

New Platform and Market Expansion

The planned launch of the new gaming platform is expected to be a key driver in achieving the $2 million monthly recurring revenue (MRR) goal. This platform will likely offer enhanced features and a wider range of gaming options to attract and retain subscribers.

François-Charles Sirois, Executive Chairman & CEO of OnMobile Global Limited, commented on the company's performance and future plans in the latest earnings report, although specific details about the new platform were not disclosed.

Financial Position

OnMobile reported a robust financial position with:

• Total income at INR 1,477.13 million, showing a year-over-year increase.
• A significant improvement in EBITDA, which rose to INR 65.00 million, up from INR 9.00 million in the same quarter of the previous year.
• A strong cash position with a closing gross cash balance of INR 1,086.00 million.

Market Outlook

The company's focus on the gaming sector aligns with the projected growth of the global gaming industry, which is expected to reach $400 billion by 2029. OnMobile's strategy to capture a larger share of this market through its new platform and existing telecom partnerships positions it well for future growth.

As OnMobile Global Limited moves forward with its plans to launch the new gaming platform and increase its monthly gaming subscription revenue, investors and industry observers will be watching closely to see how this strategy unfolds in the competitive and fast-evolving mobile gaming landscape.

OnMobile Global , a leading mobile value-added services (VAS) company, has released its financial results for the fourth quarter, revealing a mixed performance with revenue growth accompanied by increased losses.

Revenue Growth

OnMobile Global reported a significant increase in revenue for the fourth quarter. The company's revenue stood at ₹1.56 billion, marking a substantial rise from ₹1.20 billion recorded in the same quarter of the previous year. This represents a year-over-year growth of approximately 30%, indicating strong top-line performance for the company.

Widening Losses

Despite the impressive revenue growth, OnMobile Global faced challenges on the profitability front. The company reported a consolidated net loss of ₹79.30 million for the quarter. This marks a considerable increase in losses compared to the same period last year when the company posted a loss of ₹6.00 million.

Sequential Performance

On a quarter-over-quarter basis, OnMobile Global's financial situation showed signs of further deterioration. The net loss for the fourth quarter increased from ₹50.90 million reported in the previous quarter, suggesting ongoing challenges in the company's cost management and operational efficiency.

Financial Overview

To provide a clearer picture of OnMobile Global's Q4 performance, here's a summary of the key financial metrics:

The financial results indicate that while OnMobile Global has been successful in driving revenue growth, the company is grappling with increasing losses. This scenario suggests that the company might be investing heavily in growth initiatives or facing rising operational costs that are outpacing its revenue gains.

As OnMobile Global moves forward, investors and stakeholders will likely be keen to see how the company plans to address its profitability challenges while maintaining its revenue growth momentum in the competitive mobile VAS market.