Mdundo.com (MDUNDO) Q3 25/26 earnings summary

Executive summary

• Strategic shift from audience reach to direct paying subscribers, prioritizing recurring revenue over third-party billing and advertising.

• Native Android app launched, with iOS release expected in April 2026, targeting higher-value and diaspora users.

• Music gaming expanded to five African markets, generating paid transactions and validating new monetization channels.

Financial highlights

• Direct payment transactions grew 108% quarter-on-quarter, validating the direct-to-consumer model.

• Telco subscription transactions declined to 8.1 million from 9.9 million in the previous quarter due to billing instability.

• Operating expenses reduced by 50% from FY 2024/25, now at an annualized DKK 5.4 million.

• Full-year revenue guidance: DKK 8.5–10.0 million; EBITDA: DKK -1.3 to -1.8 million; year-end cash: DKK 0.5–1.5 million.

Outlook and guidance

• Q4 focus on converting app launch and improved payment flows into direct subscriber growth.

• Active engagement with telco partners to stabilize billing revenue.

• Management expects to close the financial year within the communicated guidance range.