Mdundo.com (MDUNDO) Q1 25/26 earnings summary

Executive summary

• Profitability and cash flow improved significantly despite a 25.5% year-over-year revenue decline in H1 FY 2025/26, driven by a transition to a subscription-led model and disciplined cost management.

• Strategic focus shifted from user reach to monetisation quality, with subscribers now the primary non-financial KPI.

• Deliberate reduction in low-margin advertising and prioritisation of subscription and music gaming revenue streams.

• Net cash outflow improved by 54.3% year-over-year to DKK -1.6 million.

• EBITDA loss narrowed to DKK -1.14m, a 46.9% improvement year-over-year.

Financial highlights

• Revenue fell to DKK 4.4m in H1 FY 2025/26 from DKK 5.84m a year earlier, a 25.5% decrease.

• Subscription revenue was DKK 3.8m, down 15.6% year-over-year.

• Advertising revenue was DKK 0.6m, down 57.1% year-over-year.

• Net loss improved to DKK -2.35m from DKK -2.99m year-over-year.

• Cash equivalents at period end were DKK 3.1m, down from DKK 7.6m year-over-year.

Outlook and guidance

• FY 2025/26 revenue guidance maintained at DKK 9–11m.

• EBITDA expected between DKK -1.5m and -2.5m; year-end cash projected at DKK 0.5–1.5m.

• Management prioritises monetisation, disciplined cost control, and sustainable paid entertainment growth.