Results · Enterprise Software & IT

Amagi reports Rs 879 crore revenue for FY24

By Startup Enthusiast · 9 November 2024

What they do

Amagi provides cloud-based software to launch and monetise TV channels on streaming platforms

Its FY24 operating revenue rose 29% to Rs 879 crore, but net loss was Rs 245 crore

The company has been discussing an IPO since 2022 and is backed by Accel

Amagi reported Rs 879 crore operating revenue for FY24, up 29% from Rs 680 crore in FY23.
Total revenue including interest and investments was Rs 942 crore.
The company posted a net loss of Rs 245 crore, down 23.7% from the previous year.
EBITDA margin was -22.86% and return on capital employed was -24.43%.
It cost Rs 1.34 to earn every rupee of operating revenue.
Employee expenses rose 10.8% to Rs 66.34 crore, and depreciation jumped 84% to Rs 16.3 crore.
Cash and cash equivalents fell sharply from Rs 740 crore to Rs 262.9 crore, while other bank balances rose to Rs 514 crore.
The US contributed 67.3% of revenue (Rs 591.5 crore), UK 13.1%, and India less than 1%.

Amagi turned profitable in FY21 with Rs 219 crore revenue and Rs 20.7 crore profit, but has since posted losses.
The company pivoted in 2018 from local TV advertising to a SaaS monetisation platform for TV networks.
It became a unicorn in March 2022 after a $95 million round led by Accel, and raised over $100 million in November 2023.
IPO discussions have been ongoing since July 2022, but no concrete roadmap has been announced.

Amagi offers cloud-based SaaS technology for content owners to launch, distribute, and monetise live linear channels on free ad-supported TV and video platforms.
Key products include Thunderstorm (server-side ad insertion for OTT) and Cloudport (broadcast-grade channel playout for TV and OTT).
Its platform handles over 9,000 channel deliveries, 26 billion ad impressions annually, and reaches 300+ streaming platforms and pay-TV operators.
Customers include broadcasters, content partners, distributors (FAST platforms, vMVPDs, device OEMs), and advertisers.

IPO discussions have been ongoing since July 2022, but no concrete roadmap has been announced.