Unicommerce eSolutions (UNIECOM) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 revenue reached INR 56.4 crore, up 72.2% year-on-year, with an annualized run rate over INR 225 crore, driven by enterprise client additions and product expansion in Uniware and Shipway.

• Adjusted EBITDA for Q3 was INR 13.4 crore, up 51% year-on-year, reflecting operating leverage and disciplined cost management.

• Profit after tax for Q3 was INR 7.4 crore; excluding non-cash amortization from Shipway acquisition, PAT would be INR 8.2 crore, up 24.9% year-on-year.

• Over 110 new enterprise clients were added in the quarter, with revenue concentration from top ten clients reduced to 12% from 19% in FY 2025.

• AI integration advanced, with new features like Catalyst AI Voice Agent, UniBot AI Assistant, and ShipSense AI Courier Allocation launched to enhance product differentiation and operational efficiency.

Financial highlights

• Nine-month FY26 consolidated revenue grew 70.6% year-on-year to INR 152.7 crore.

• Adjusted EBITDA for nine months was INR 34.3 crore, up 75.8% year-on-year, surpassing the previous full-year figure.

• Nine-month PAT was INR 17.1 crore; excluding Shipway amortization, PAT was INR 21.1 crore, up 45.2% year-on-year.

• Earnings per share increased 12.5% year-on-year in Q3 and 18.1% for the nine-month period.

• Shipway achieved an annualized revenue run rate of INR 100 crore in Q3, up from INR 71 crore in Q1 post-acquisition.

Outlook and guidance

• Double-digit revenue growth expected from Q4 FY26 onwards for Uniware, supported by new client additions and product adoption.

• Shipway anticipated to grow at a faster pace than Uniware due to a larger addressable market and low penetration.

• Continued investment in AI, sales, and marketing, with short-term impact on Shipway's adjusted EBITDA, but expected long-term value creation.

• Management remains focused on scaling revenues, expanding market presence, and disciplined capital allocation.