OnMobile Global Limited (“OnMobile”) today announced the results for 1st Quarter FY21 ended June 30, 2020. Cost optimization and lower spend resulted in Earnings Before Interest, Tax and Depreciation (EBITDA) growing from INR 12.0 crores in Q4 to INR 19.8 crores in Q1, witnessing a growth of 64.7% QoQ and 4 times YoY.

Q1 FY21 Highlights:

·         Acquired 25% equity stake in AI powered visual retention leader Rob0. This investment reaffirms the importance of OnMobile’s strategy to become a leader in mobile gaming market.

·         Revenue remains stable QoQ and grew by 5.3% YoY, despite Covid-19 outbreak impacting global economy.

·         Our rationalization efforts continue to yield savings with a 6.3% reduction QoQ in manpower costs with an exit headcount of 697.

·         EBITDA grew by 64.7% QoQ and 4 times YoY, to INR 19.8 crores with the margin of 14.0% in the quarter aided by cost optimization and lower spend.

·         PBT at INR 19.3 crores for Q1FY21 as compared to INR 23.5 crores in Q4FY20. Excluding one-time exceptional items during last quarter of INR 8.2 crores, PBT grew by 26.2% on QoQ basis. Also, PBT grew over 5 times on YoY basis.

·         DSO reduced to 137 days in Q1FY21 from 144 days in Q4FY20.

·         Cash stood at INR 265.9 crores. This is after Rob0 investment of INR 5.42 crores and Buyback of INR 6.52 crores.

The post OnMobile Reports First Quarter Fiscal 2021 Results appeared first on The Tech Outlook.

The Board of Directors of OnMobile Global Limited (‘the Company’) at the meeting held on July 31, 2020 approved the following:

1.      Resignation of Mr. François-Charles Sirois from the position of Chief Executive Officer of OnMobile Global Limited (“the Company”) with effect from closing of business hours of August 02, 2020 while continuing as Executive Chairman of the Company.

2.      Appointment of Mr. Krishnan Seshadri as Chief Executive Officer of the Company w.e.f. August 03, 2020.

Mr. Krishnan Seshadri is a seasoned digital/ technology leader with over two decades operating experience across India, Asia-Pacific, USA and Europe.

Most recently, Mr. Krishnan was CEO of Monster.com APAC and Middle East operations where he led the online recruiting leader’s P&L, product, technology, sales, marketing and partnerships. Mr. Krishnan is an engineering graduate from Stanford University and has an MBA from London Business School where he was a Chevening Scholar.

3.      Appointment of Ms. Geeta Mathur (DIN: 02139552) as an Independent Non- Executive Additional Director of the Company with effect from July 31, 2020.

Ms. Geeta Mathur is an experienced finance professional having worked as a banker both on the asset side and risk side and with large corporate treasuries and investor relations 

She started her career with ICICI, where she worked for over 10 years in the field of project, corporate and structured finance as well represented ICICI on the Board of reputed companies such as Eicher Motors, Siel Limited etc. She then worked in various capacities in large organizations such as IBM and Emaar MGF across areas of Corporate Finance, Treasury, Risk Management and Investor relations. 

She is a graduate in Commerce from Shriram College of Commerce, Delhi University and did her articles with PriceWaterhouse while pursuing her CA.

4.      Appointment of Mr. Steven Fred Roberts (DIN:08815252) as a Non- Independent Non- Executive Additional Director of the Company with effect from July 31, 2020.

Steven Roberts, Global Vice President of Competive Gaming, is responsible for designing and executing a strategy around the dynamic industry of esports for the PlayStation platform and its 100 mm plus homes. Most recently, Roberts was Chairman of ESL NA, the largest esports company in the world. He largely focused on strategic partnerships, media distribution, production and overall mentorship of the executive team. 

Prior roles were as Senior Vice President for DIRECTV, Inc. In this position, Steven was responsible for developing and executing strategies designed to integrate the traditional DIRECTV entertainment experience on the set-top-box with emerging digital technologies.

Roberts holds a bachelor’s degree from the University of California, Berkeley

The post OnMobile Global Announces the outcome of its Board Meeting appeared first on The Tech Outlook.

OnMobile Global Limited, the leading provider of mobile content & entertainment with a reach of 1.6 Billion mobile users and 100 Million active subscribers, today announced the appointment of Krish Seshadri as Chief Executive Officer for the company, effective 03 August 2020. 

Krish Seshadri joins OnMobile with over two decades of experience leading technology, digital & mobile product businesses across APAC, US and Europe. Most recently, Krish was CEO of Monster.com’s operations across APAC & Middle East. Previously, he held leadership roles at social gaming pioneer Zynga, digital content leader AOL-Verizon and Facebook. Krish is an engineering graduate from Stanford University and received an MBA from London Business School, where he was a Chevening Scholar. Welcoming Krish on board, Francois-Charles Sirois, Executive Chairman of OnMobile said, “We are delighted to have Krish join us as CEO. His rich experience building global businesses in consumer internet, mobile and gaming, coupled with his proven track record of leading diverse global teams will help us accelerate our strategy and transformation in the fast-growing mobile entertainment and gaming space” 

Earlier this year OnMobile had acquired a stake in rob0, an AI-powered visual retention analytics product created for game developers. In 2018, OnMobile acquired Appland AB, a pioneer in mobile app distribution and monetization. These investments reaffirm the importance of OnMobile’s strategy to become a leader in the global mobile gaming market.  

Speaking about his appointment, Krish said, “I am excited to join OnMobile at this transformational point and looking forward to working with the global teams to develop innovative products, build on the momentum and pursue the significant growth opportunities ahead” 

The post OnMobile Global appoints Krish Seshadri as CEO appeared first on The Tech Outlook.