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OnMobile Q3 FY26 Revenue Up 4.5% QoQ to INR 1,369 Mn; Gaming Revenue Surges 27.5%
OnMobile reported a steady Q3 FY26 with revenue reaching INR 1,369 million, a 4.5% increase quarter-on-quarter. The mobile gaming segment was the standout performer, growing 27.5% QoQ to INR 453 million and now contributing one-third of total revenue. EBITDA grew 16% QoQ to INR 81 million, reflecting improved operational efficiency and cost discipline. The company also expanded its footprint by launching its gaming platform in Africa, supporting its long-term growth strategy.
Key Highlights
Q3 FY26 revenue stood at INR 1,369 million, representing a 4.5% QoQ growth
Mobile Gaming revenue surged 27.5% QoQ to INR 453 million, with 13.7 million subscribers
EBITDA increased to INR 81 million, up 16% QoQ excluding capitalization
Maintained a healthy gross cash balance of INR 1,385 million as of December 31, 2025
Expanded global presence with a new gaming platform launch in Africa
💼 Action for Investors
Investors should monitor the continued scaling of the high-margin gaming segment and the success of the new African expansion. The stock remains a play on the digital entertainment and mobile gaming turnaround.
OnMobile Q3 FY26: Gaming Revenue Up 27.5% QoQ; PAT Drops 52% to INR 35 Mn
OnMobile Global reported Q3 FY26 revenue of INR 1,369 Mn, a 4.5% QoQ increase, though it remains down 17.8% YoY. The standout performer was the Mobile Gaming segment, which grew 27.5% QoQ to INR 453 Mn, supported by a 13.7 million subscriber base. Despite the revenue growth, PAT declined 52% QoQ to INR 35 Mn, and EBITDA margins contracted slightly to 5.9%. The company maintains a healthy cash balance of INR 1,385 Mn and is targeting a $3M gaming Monthly Recurring Revenue (MRR) in the next 18 months.
Key Highlights
Mobile Gaming revenue reached INR 453 Mn, a 27.5% QoQ increase, now contributing 33% to total revenue.
Quarterly PAT fell to INR 35 Mn from INR 60 Mn in Q2, representing a 52% sequential decline.
Gross cash balance strengthened to INR 1,385 Mn, driven by positive operational cash flows.
Gaming subscriber base grew to 13.7 Mn across Challenges Arena and ONMO platforms.
9M FY26 performance shows a turnaround with a PAT of INR 250 Mn compared to a loss of INR 326 Mn in 9M FY25.
💼 Action for Investors
Investors should monitor the company's ability to sustain high-growth momentum in the gaming segment to offset the decline in legacy Tones and Video services. While the 9-month turnaround is positive, the sequential drop in PAT and EBITDA suggests operational volatility that warrants a cautious outlook.
OnMobile Appoints Former Comviva CEO Manoranjan Mohapatra as Independent Director for 5 Years
OnMobile Global has appointed Manoranjan Mohapatra as an Additional Independent Director for a five-year term effective February 5, 2026. Mr. Mohapatra is a seasoned industry veteran who served as CEO of Comviva Technologies for 17 years, where he led the company to 20x growth and expanded its footprint to 80 countries. His previous experience includes scaling Aricent Technologies to over $500 million in revenue as President and COO. This appointment brings significant strategic expertise in telecom, fintech, and digital transformation to the OnMobile board.
Key Highlights
Appointment of Manoranjan Mohapatra as Independent Director for a 5-year term until February 2031
Mr. Mohapatra previously led Comviva Technologies to 20x growth during his tenure as CEO from 2007 to 2024
He scaled Aricent Technologies to revenues exceeding $500 million as President and COO
Brings over 40 years of experience in building and scaling technology-led businesses in telecom and fintech
The appointment is subject to shareholder approval and follows a recommendation from the Nomination and Compensation Committee
💼 Action for Investors
Investors should view this as a positive governance move that adds high-caliber industry expertise to the board. Monitor how his strategic background in scaling digital businesses influences OnMobile's future growth initiatives.
OnMobile Q3 FY26 Results: Consolidated PAT at ₹35.13 Mn, Turnaround from YoY Loss
OnMobile Global reported a consolidated profit after tax (PAT) of ₹35.13 million for Q3 FY26, marking a significant recovery from a loss of ₹52.15 million in the same quarter previous year. Revenue from operations grew 5.9% sequentially to ₹1,356.90 million, although it remains lower than the ₹1,640.06 million reported in Q3 FY25. The company also announced the appointment of Manoranjan Mohapatra as an Independent Director to its board. An exceptional charge of ₹4.61 million was recognized during the quarter related to the implementation of new Indian Labour Codes.
Key Highlights
Consolidated PAT turned positive at ₹35.13 million vs a loss of ₹52.15 million in Q3 FY25.
Revenue from operations increased 5.9% QoQ to ₹1,356.90 million from ₹1,281.57 million.
Total expenses reduced significantly to ₹1,407.97 million from ₹1,639.95 million in the year-ago period.
Exceptional item of ₹4.61 million recorded due to the impact of new Labour Codes on gratuity.
Appointment of Manoranjan Mohapatra as an Additional Independent Director to the Board.
💼 Action for Investors
Investors should note the company's return to profitability and the sequential growth in revenue. The focus should remain on the sustainability of cost-cutting measures and the growth of the core mobile entertainment business.