Ohmyhome (OMH) H2 2024 earnings summary

Executive summary

• Revenue surged 118% year-over-year to S$10.9 million, driven by strong growth in all business segments.

• Net loss narrowed to S$4.4 million (US$0.13 per share), reflecting improved operational efficiency.

• EBITDA loss reduced to S$3.4 million, with margin improving from -103% to -31%.

Financial highlights

• Gross margin expanded to 40.5%, up from 33.0% in 2023.

• Total assets increased to S$10.8 million; shareholders' equity rose to S$6.3 million.

• Total liabilities decreased to S$4.5 million, mainly due to loan and long-term liability repayments.

• Net cash used in operating activities was S$3.0 million; cash at period end was S$1.1 million.

Outlook and guidance

• Focus remains on scaling core businesses through enhanced marketing, AI-powered engagement, and deeper condominium market penetration.

• Initiatives expected to drive continued revenue growth and margin expansion.