Tracxn Technologies (TRACXN) Q3 24/25 earnings summary

Executive summary

• Revenue from operations for Q3 FY25 was INR 21.4 crore (Rs 2,139.31 lakhs), up 1.2% year-over-year; total revenue reached INR 22.9 crore.

• EBITDA for Q3 was INR 0.4 crore (2.1% margin), and PAT was INR 1.4 crore (6.6% margin); net profit for Q3 FY25 was Rs 143.97 lakhs, reversing the prior quarter's loss.

• Active customer accounts grew 39% year-over-year to 1,699, with user count up 31% to 4,626.

• Deferred revenue for Q3 was INR 38.7 crore, up 17.4% year-over-year.

• Free cash flow for the first nine months was INR 13 crore; cash and equivalents rose 30% year-over-year to INR 91.4 crore.

Financial highlights

• Nine-month FY2025 revenue from operations was INR 63.3 crore, up 1.4% year-over-year; total income was INR 67.6 crore, up 3.3%.

• EBITDA for nine months was INR 1.6 crore (2.6% margin); adjusted EBITDA excluding non-cash ESOP expense was INR 5 crore.

• PAT for nine months was INR 4.4 crore (6.9% margin); adjusted PAT excluding non-cash items was INR 9 crore.

• Total expenses for nine months were INR 61.8 crore, up 5% year-over-year; 88% of expenses were team costs.

• Contract price (invoicing amount) for nine months was INR 68.6 crore, up 3%.

Outlook and guidance

• India revenue growth expected to end FY2025 between 16%-20%; international growth remains slow but is expected to accelerate in FY2026.

• Customer account growth is anticipated to remain strong, with further acceleration in revenue as new initiatives scale.

• AI-driven data production and new data products are anticipated to further optimize costs and enhance platform value.

• Management reviewed recoverability of deferred tax assets and concluded no further adjustment required as of Dec 31, 2024.