Tracxn Technologies (TRACXN) Q4 21/22 earnings summary

Executive summary

• FY2021-22 revenue from operations was INR 634,535.12 thousand; net loss narrowed to INR 48,476.71 thousand from INR 53,476.60 thousand YoY.

• Loss before exceptional items was INR 3,568.78 thousand; INR 44,907.93 thousand of IPO expenses resulted in a loss before tax of INR 48,476.71 thousand.

• Converted to a public limited company in July 2021 and filed a draft prospectus with SEBI in August 2021, followed by a revised filing in December 2021.

Financial highlights

• Revenue from operations rose to INR 634,535.12 thousand from INR 437,786.71 thousand; total income was INR 651,579.57 thousand versus INR 557,417.59 thousand.

• Employee benefit expense increased to INR 585,710.25 thousand from INR 538,130.90 thousand; other expenses were INR 67,981.38 thousand versus INR 70,240.14 thousand.

• Operating cash flow was positive INR 5,586.01 thousand, compared with cash used of INR 60,596.78 thousand; year-end cash and cash equivalents were INR 31,868.05 thousand.

• Current investments were INR 164,049.98 thousand; other financial assets, including bank deposits, were INR 221,060.77 thousand at March 31, 2022.

Outlook and guidance

• Management assessed that existing cash and bank balances and projected future inflows would support meeting financial obligations over the next 12 months.

• Revenue expected from remaining performance obligations was INR 255,470.19 thousand; INR 254,357.96 thousand was expected to be recognised within one year.