Rategain Q2 FY23 Results Key Highlights
- Consolidated Revenue up 47% and Net Profit is up 782% YoY
- EBIT Margins at 14% Vs 5% YoY
- Cash Balance Rs.434 Cr as on 30th Sep 2022
- New Product Launch – Engage AI
- Revenue Model – Subscription 34.8%, Hybrid 42.1%, Transaction 23.2%
- Revenue by Geography US 56.2%, Europe 30.5%, Asia 10.2%, Other 3.1%
- Top 10 Customers constitute 35.6% of Revenue
- Gross Revenue Retention 90% (% of renewed revenue vs last fiscal)
- Rategain Offerings and journey – DaaS, Distribution and Martech
- In H1FY23 DaaS contributed 25.7%, Distribution 35% and Martech 39.3% to total revenue
- Added 150 Net New Customer in Q2FY23, Total number reach to 2557
- Employee cost remained flat QoQ, DaaS and Distribution business shown better growth helped in kicking in operating leverage. Margins target is to reach EBITDA margin of 20-25% by FY25
- H2 will be stronger than H1 so similar margin of 15% can be expected.
- Analysing some M&A opportunities present in Market.
- Leading Airlines Air India and Akasa Air selected Rategain, So now almost all Indian Airlines are Rategain client. In last quarter Royal Orchid has also tied up with Rategain