Mdundo.com (MDUNDO) Q2 24/25 earnings summary

Executive summary

• Achieved 36% year-on-year improvement in EBITDA, narrowing loss to DKK -2.1m, driven by operational optimizations and focus on core revenue drivers.

• Revenue grew 3% year-on-year to DKK 5.85m, with strong 45% growth in subscription revenue offsetting a 44% decline in advertising revenue.

• Monthly active users (MAUs) increased 26% year-on-year to 38.8 million, on track to reach 40 million by June 2025.

• Cash position at DKK 7.6m, impacted by delayed receivables, expected to normalize in H2.

• Launched premium services with Glo Nigeria and Vodacom South Africa, and a new Progressive Web App targeting users outside Africa.

Financial highlights

• Revenue: DKK 5.85m in H1 FY24/25, up 3% year-on-year.

• Subscription revenue: DKK 4.5m, up 45% year-on-year; advertising revenue: DKK 1.4m, down 44% year-on-year.

• EBITDA: DKK -2.11m, improved 36% year-on-year.

• Net loss: DKK -2.99m, improved from DKK -4.85m year-on-year.

• Cash and cash equivalents: DKK 7.57m at period end, down from DKK 13.41m year-on-year.

Outlook and guidance

• Revenue guidance for FY24/25: DKK 12-15m, up to 26% growth year-on-year.

• EBITDA guidance: DKK -4m to -5m, an improvement of DKK 1.4-2.4m from last year.

• MAUs target: 40 million by June 2025.

• On track to secure 2-3 new telco partners within the financial year.