Tracxn Technologies (TRACXN) Q3 25/26 earnings summary

Executive summary

• Revenue from operations for Q3 FY26 was INR 21 crore (Rs. 2,103.98 lakhs), and INR 63.5 crore for the nine months, with over 56% of revenue from international markets.

• Customer accounts grew 32% year-over-year to 2,246, and user count rose 33% to 6,156.

• India segment led growth with 14% YoY revenue increase and 43% YoY account growth, while international segment saw 17% YoY account growth but an 8% YoY revenue decline.

• Unaudited financial results for the quarter and nine months ended December 31, 2025, were approved and released, with a limited review by statutory auditors confirming compliance.

Financial highlights

• Q3 FY26 EBITDA margin (excluding exceptional items) was -8.1%; PAT margin (excluding exceptional items and DTA) was 0.6%.

• Adjusted PAT for nine months FY26 was INR 3.7 crore, excluding non-cash expenses.

• Free cash flow for 9M FY26 was INR 13.5 crore, with total expenses for nine months at INR 66.1 crore, up 7% YoY, and 88% attributed to team costs.

• Cash and cash equivalents stood at INR 90.2 crore at the end of Q3 FY26, net of buyback outflows.

• Net loss for Q3 FY26 was Rs. 88.68 lakhs, impacted by an exceptional item of Rs. 94.10 lakhs due to new Labour Codes.

Outlook and guidance

• Management expects growth acceleration in India and international geographies as sales teams and datasets are expanded.

• EBITDA is expected to turn positive within a few quarters as operating leverage improves.

• Investments in sales, marketing, and data augmentation are expected to drive future growth and profitability.

• Management will continue to monitor deferred tax asset recoverability and regulatory impacts.