Urban Company (URBANCO) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 saw strong, broad-based growth and improved profitability across core businesses in India and international markets (UAE, Singapore), with continued investment in new growth areas like InstaHelp and Native.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, and took on record the limited review reports from auditors.

• Net transaction value (NTV) grew 36% year-on-year (excluding KSA) to INR 1,081 crore; revenue from operations rose 42% year-on-year to INR 800.38 crore, with growth across India, Consumer Services, Native, and international markets.

• Entered into a manufacturing and supply agreement with Amber Enterprises India Limited for 'Native' brand products, aiming to optimize operations and strengthen the supply chain.

• InstaHelp scaled to 1.61 million orders and INR 28 crore NTV; adjusted EBITDA loss for InstaHelp was INR 61 crore, but loss per order reduced from INR 760 in Q2 to INR 381 in Q3.

Financial highlights

• Consolidated revenue from operations for Q3 FY26 was ₹382.68 crore, up from ₹287.92 crore in Q3 FY25; nine-month revenue was ₹1,129.98 crore, up from ₹846.02 crore year-over-year.

• Net transaction value (NTV) grew 36% year-on-year (excluding KSA) to INR 1,081 crore; revenue from operations rose 42% year-on-year to INR 800.38 crore.

• Consolidated net loss for Q3 FY26 was ₹21.26 crore, compared to a net profit of ₹231.84 crore in Q3 FY25; nine-month net loss was ₹73.65 crore, compared to a net profit of ₹242.60 crore year-over-year.

• Standalone revenue for Q3 FY26 was ₹261.28 crore, up from ₹190.47 crore in Q3 FY25; nine-month standalone revenue was ₹799.50 crore, up from ₹579.85 crore year-over-year.

• Standalone net loss for Q3 FY26 was ₹15.35 crore, compared to a net profit of ₹238.66 crore in Q3 FY25; nine-month net loss was ₹39.63 crore, compared to a net profit of ₹284.94 crore year-over-year.

Outlook and guidance

• India Consumer Services (ex InstaHelp) margins expected to be slightly ahead of FY25 for FY26, with continued year-on-year improvement projected.

• Consolidated adjusted EBITDA expected to break even by Q3 FY28, with core business profits offsetting InstaHelp losses.

• FY31 adjusted EBITDA target of INR 1,000 crore, primarily from core businesses; InstaHelp expected to break even by then.

• Focus on operational optimization and supply chain strengthening through new manufacturing partnerships.

• Continued monitoring of regulatory changes, especially labor codes, and their financial impact.