OnMobile Global – Q4FY26 CONCALL HIGHLIGHTS
#Q4FY26
🔹 MANAGEMENT
• FY26 marked major profitability inflection point
• EBITDA surged despite lower annual revenue
• Massive cost optimization improved margins
• Strong confidence in Smart Console launch
• Subscriber base expanded by 600K in Q4
🔹 OUTLOOK
• FY27 targeted as zero-capex gaming year
• Strong growth expected over next 18 months
• Console business seen as long-term disruptor
• Management targeting $300M revenue vision
• Subscription gaming momentum already recovering
🔹 INDUSTRY
• Affordable cloud gaming opportunity expanding
• Traditional consoles remain highly expensive
• Africa and Asia seen as major growth markets
• Multi-device gaming behavior increasing rapidly
• Cloud-native gaming adoption accelerating globally
🔹 COMPETITIVE POSITION
• Smart Console priced below ₹5,000
• Multi-device synchronized controller differentiates offering
• Entire package cheaper than PS/Xbox controller
• Expanding beyond telecom operator dependency
• Flipkart partnership opens large retail channel
🔹 RISKS
• Top customer campaign pauses hurt revenue
• Initial console launch bugs expected
• Lower ARPU from newer accounts initially
• 40 Cr impairment impacted reported PAT
• DSO remained elevated at 131 days
🔹 GROWTH DRIVERS
• Smart Console launch scheduled shortly
• Legacy stack migrating to cloud-native platform
• AI-driven advertising capabilities expanding
• New marketing channels beyond Google added
• ISPs, retail and e-commerce partnerships growing
🔹 PRODUCT MIX
• Subscription gaming subscribers grew 32% YoY
• Total gaming subs reached 14.3 million
• Mobile entertainment business remained stable
• Console strategy targets AAA gaming adoption
• Strong focus on cross-device gaming ecosystem
🔹 FINANCIALS
• FY26 EBITDA jumped 110.6% to ₹29.7 Cr
• EBITDA margin improved to 5.7%
• Reported PAT stood at negative ₹11 Cr
• Adjusted PAT excluding impairment ₹35.3 Cr
• Gross cash balance remained strong at ₹142 Cr
🔹 COST OPTIMIZATION
• Personnel cost reduced by 6.5%
• Marketing spend declined by 2.2%
• Other operating expenses reduced by 4.4%
• Operational efficiencies improved significantly
• Business entering cash-positive scaling phase
🔹 KEY HIGHLIGHTS
• Console launch remains biggest near-term trigger
• Gaming ecosystem moving toward affordability
• AI integration becoming core strategic pillar
• Legacy modernization expected over 8-10 quarters
• Subscriber growth remained healthy despite revenue dip
🔹 SENTIMENT
• Overall tone remained highly positive
• Management excited about “second innings”
• Strong confidence in gaming strategy execution
• Focus shifting from investment to monetization
• Console business viewed as transformational opportunity
🔹 CONCLUSION
• OnMobile reached operational inflection point
• EBITDA growth driven by disciplined cost control
• Smart Console launch could unlock major opportunity
• Strong cash reserves support strategic transition
• Execution quality post-launch remains key monitorable
Lenskart Q4 FY26 BUSINESS HIGHLIGHTS 👓📈
• Conducted 6.8 million eye tests in Q4 FY26 ↑ 45% YoY; FY26 eye tests rose 48.5% YoY to 23.8 million
• India eye tests grew 50.1% YoY to 6.0 million, with nearly half from first-time users
• Overall volume growth stood at 25.2% YoY in Q4; India grew 24.3% while international business grew 29.1%
• Added 183 net new stores in Q4; FY26 store additions reached 603, taking total store count to 3,327
• Expanded strongly in Tier-2+ markets with 254 stores added across 157 new cities during FY26
• India delivered strong SSSG of 24.2% in Q4 and 20.8% for FY26
• Net Promoter Score (NPS) reached all-time high of 81.4 in Q4
• Lenskart Gold active members rose to 8.8 million; subscription income surged 84.7% YoY to ₹199.5 Cr in FY26
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