Affle 3i (AFFLE) Q1 25/26 earnings summary

Executive summary

• Achieved highest ever quarterly revenue of INR 6,207 million in Q1 FY26, up 19.5% year-over-year, with record EBITDA and PAT growth, and 107 million CPCU conversions.

• EBITDA grew 33.7% year-over-year, with margin expansion to 22.5% and fifth consecutive quarter of sequential improvement.

• PAT reached INR 1,055 million, up 21.8% year-over-year, maintaining a PAT margin of 16.5%.

• Strategic investments in AI, platform innovation, and new product launches, including Optics AI and Apple III Vision, supported growth.

• India and emerging markets contributed 72.3% of revenues, with developed markets growing 23.3% year-over-year.

Financial highlights

• Revenue from operations grew 19.5% year-over-year to INR 6,207 million, and 3.1% sequentially from Q4.

• EBITDA was INR 1,397 million, up from INR 1,045 million year-over-year, with margin at 22.5%.

• PAT stood at INR 1,055 million, up from INR 866 million year-over-year, with PAT margin at 16.5%.

• Operating cash flow for Q1 FY26 was INR 1,320 million.

• Inventory and data costs were 30.9% of revenue; employee costs rose 4.4% sequentially.

Outlook and guidance

• Management targets 20% organic revenue growth and 23% EBITDA margin in FY26 and medium term.

• Confident in sustaining growth momentum despite geopolitical and macroeconomic headwinds.

• Q3 expected to be seasonally strong, with festive season tailwinds in India.

• 10x growth targeted over the decade, combining organic and selective inorganic expansion.

• Investment in Bobble continues to be classified as held for sale.