Investor Presentation
RATEGAIN · price
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RateGain reported strong revenue growth with FY2026 operating revenue of INR 1,823.6 Cr, up 69.4% YoY, while Q4 revenue hit INR 715.5 Cr (up 174.5% YoY) boosted by Sojern acquisition. Adjusted EBITDA stood at INR 358.3 Cr (19.6% margin) and Adjusted PAT at INR 249.9 Cr (13.7% margin). The company completed Sojern integration ahead of plan and built the world's largest travel intent data platform. Customer base grew to 13,410 with strong retention metrics (GRR 94.9%, NRR 99.6%) and improved LTV to CAC ratio of 12.8x. Gross margins declined to 70.6% due to increased AdSpend investments, while EBITDA margins compressed to 19.6% from 21.6% in FY25 due to higher GTM investments and Sojern consolidation costs.
The strong revenue growth and ahead-of-plan Sojern integration are positive signals, but declining margins due to increased investments may pressure near-term profitability. The INR 659 Cr pipeline and focus on operational excellence provide visibility for FY27, though shareholders should monitor margin recovery as integration synergies flow through.