Affle 3i (AFFLE) Q2 24/25 earnings summary

Executive summary

• Achieved record performance in H1 FY25 and Q2 FY25, with strong revenue, EBITDA, and PAT growth, driven by robust results in India, emerging, and developed markets, and highest-ever CPCU conversions.

• 100% of Q2 FY25 revenue was from the CPCU business model, reflecting a focus on high-ROI, outcome-led advertising.

• Continued investments in technology, GenAI-powered capabilities, and patent portfolio, with expansion in high-growth verticals such as fintech, e-commerce, and gaming.

• Completed acquisition of YouAppi Inc., resulting in significant recognition of intangible assets and goodwill.

Financial highlights

• Q2 FY25 consolidated revenue: INR 5,429 million, up 25.9% year-on-year; H1 FY25 revenue: INR 10,624 million, up 26.8% year-on-year.

• Q2 FY25 EBITDA: INR 1,133 million, up 29.9% year-on-year; H1 FY25 EBITDA: INR 2,178 million, up 31.8% year-on-year.

• Q2 FY25 PAT: INR 920 million, up 37.7% year-on-year; H1 FY25 PAT: INR 1,786 million, up 34.3% year-on-year.

• Operating cash flow for H1 FY25: INR 2,623 million; OCF to PAT ratio at 81.7%.

• Basic and diluted EPS for H1 FY25: 12.74, compared to 9.98 in H1 FY24.

Outlook and guidance

• Confidently on track to deliver over 20% revenue growth for FY25, with even higher growth in EBITDA and PAT.

• Management focuses on scalable data platforms, global reach, and leveraging AI/ML and proprietary tech for future growth.

• Five-year modeling suggests 20% annual top-line and 25% bottom-line compounding growth.