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PropertyGuru Group Q2 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2024 earnings summary4 Sep, 2024

Executive summary

  • Revenue rose 10% year-over-year to S$41 million in Q2 2024, driven by growth in Vietnam and continued strength in Singapore, Malaysia, and fintech/data services.

  • Adjusted EBITDA increased 48% to S$7 million, with margin improving to 17% from 13% in Q2 2023.

  • Net loss widened to S$16 million from S$6 million in Q2 2023, impacted by restructuring and strategic review costs.

Financial highlights

  • Marketplaces revenue grew 11% year-over-year to S$39 million, led by Singapore (+16%), Malaysia (+12%), and Vietnam (+4%).

  • Fintech & Data services revenue increased 3% to S$1.6 million.

  • Cash and cash equivalents stood at S$309 million at quarter-end.

  • Basic and diluted loss per share was S$0.10 for Q2 2024, compared to S$0.04 in Q2 2023.

Outlook and guidance

  • Management highlights ongoing market recovery in Vietnam and continued agent and ARPA growth in Singapore.

  • The company is undergoing a strategic reorganization and is subject to a pending acquisition by EQT Private Capital Asia.

What drove Singapore marketplaces revenue growth?
Assess Vietnam's ARPL decrease; why?
Detail strategic review costs incurred.
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