Heaptalk, Jakarta — Singapore-based BPaaS company, AnyMind Group announced its financial results for the first quarter (Q1) of fiscal year 2024. The company’s financial report disclosed that the Group revenue attained US$67 million, enhancing 60% YoY.
On the other hand, the Group’s gross profit also increased around 57% YoY, touching US$24 million in Q1 FY 2024. Operating revenue also elevated significantly, attaining US$2.2 million, driven by robust gross profit enhancement and reduced expenses. AnyMind Group’s Adjusted EBITDA also improved by around US$3.1 million, bringing this result up to US4.2 million in the first quarter of 2024.
Furthermore, the company claimed its three core businesses continued to up based on on a gross profit basis, including:
- Marketing grew 42% YoY, driven by influencer marketing. As its newest target market, the company claims that Korea contributes significantly to AnyMind Group’s business line. YoY gross profit growth by region, such as Japan and Korea (+37%), Southeast Asia (+43%), China and India (+53%).
- E-commerce increased by 82% YoY, boosted by the financial contributions of recently acquired DDI. Since DDI’s business model is an inventory purchase model, AnyMind’s gross profit margin reached around 10%, and the overall gross margin ratio decreased due to the influence of the sales mix (Gross margin, excluding DDI, is approximately 58%).
- Growth Partners (for publishers and creators) grew 73% YoY, driven by the growth of new mobile application publishers and global creators.
In addition to these performance achievements, the Group actively invests in enhancing features and functionalities across all its business platforms. This strategic efforts include introducing new capabilities, such as AI-generated live streamers for live commerce, integrating with FedEx Express in the international shipping platform, AnyLogi, and extending support for influencer analytics and marketing campaigns on the Chinese social media platform Douyin within the influencer marketing platform, AnyTag.
“For the full year earnings 2024 expectation, we anticipate the significant growth for marketing, D2C or e-commerce, and the partner growth business line,” affirmed AnyMind.
