Turtlemint Fintech Solutions (TURTLEMINT) Q4 25/26 earnings summary

Executive summary

• FY26 revenue from operations was ₹10,982.83m, up 57%, and Service EBITDA was ₹1,416m, up 70% on a pro forma comparison basis; Q4 marked the first Adjusted EBITDA break-even quarter, at ₹29m.

• The platform served 46 insurers through 659,073 digital partners; 75.36% of platform premium came from B30+ markets.

• Growth drivers included partner recruitment and activation, rising productivity, renewals and expansion into adjacent financial products.

Financial highlights

• FY26 platform premium was ₹38,678m, up 31% YoY; renewal revenue rose 51% to ₹2,246m.

• Q4 revenue was ₹3,572.13m, up from ₹2,516.45m in Q4 FY25; Service EBITDA was ₹601m, up 60% YoY.

• FY26 Adjusted EBITDA loss was ₹1,055m versus ₹1,863m in FY25 pro forma; EBITDA loss was ₹1,194m versus ₹1,675m.

• Consolidated FY26 net loss was ₹1,842.66m, including ₹549.32m of exceptional items; Q4 net profit was ₹31.23m versus a ₹394.42m loss in Q4 FY25.

• Corporate overheads were ₹2,471m, down 8% YoY, and 23% of revenue versus 38% in FY25 pro forma.

Outlook and guidance

• Management expects consolidated profitability in FY27 and profitability improvement of more than 40%, without giving specific numerical growth guidance.

• Long-term targets include Service EBITDA margin of 24%-25%, corporate overheads at 5%-6% of revenue and EBITDA margin of 18%-25% by FY30; a separate five-year ambition is PBT or PAT of 17%-20% of revenue.

• Priorities include B30 market penetration, broader insurance and financial products, white-label/API distribution, brand investment and AI-led efficiency.