Revenues Grow 44% Year Over Year in Second Quarter and 43% in First Half
• Total revenue of S$33.0 million in the second quarter 2022 and S$61.3 million in the first half of 2022
• Adjusted EBITDA was S$3.0 million in the second quarter 2022 and S$3.9 million in the first half of 2022
Singapore – August 25, 2022 – PropertyGuru Group Limited (NYSE: PGRU) (“PropertyGuru” or the “Company”), Southeast Asia’s leading , property technology (“PropTech”) company, today announced financial results for the quarter ended June 30, 2022 . Net income and Adjusted EBITDA were S$3.8 million and S$3.0 million, respectively, which compares to a net loss of S$139.8 million and Adjusted EBITDA loss of S$2.0 million in the prior year period. Revenue of S$33.0 million in the second quarter 2022 increased 44% year over year.
Management Commentary
Hari V. Krishnan, Chief Executive Officer and Managing Director, PropertyGuru, said “Second quarter results built on the strong start to the year. The strategy of increasing our customer value proposition is proving effective, as we see the return on investments made over the past few years. The second quarter saw us deliver more tools and features that further enhance the customer experience as the pace of our internal innovation accelerates. Going forward, we expect to capitalize on both organic and inorganic opportunities to further expand our world-class solutions to customers. Even with our growing business strength, we remain vigilant around potential market challenges from rising inflation and interest rates and other global macro headwinds.”
Joe Dische, Chief Financial Officer, PropertyGuru, added “Second quarter revenues were up 44% year over year, building on the first quarter’s solid performance and setting us up for a strong back half of 2022. Growth was balanced across all business segments and the further leveraging of our cost structure helped drive positive Adjusted EBITDA.”