PropertyGuru announced financial results for the quarter ended December 31, 2022. Revenue of S$40 million in the fourth quarter 2022 increased 17% year over year. Net loss was S$5 million in the fourth quarter and Adjusted EBITDA was a positive S$5 million. This compares to a net loss of S$27 million and Adjusted EBITDA loss of S$4 million in the fourth quarter of 2021. Â
Hari V. Krishnan, CEO and Managing Director, said “While rising interest rates and government credit intervention weighed on market activity, we remained resilient and delivered good growth by helping our customers navigate the challenges they faced and confirming the value add of our solutions in all phases of the real estate cycle.”
“Last year was a historic year for PropertyGuru, as we took the next step in our company’s evolution by listing on the NYSE. Going forward, we see great opportunity in 2023 and beyond as we continue to offer our customers differentiated solutions while looking to opportunistically deploy capital to accelerate the Company’s ongoing expansion.”
Joe Dische, Chief Financial Officer, added “PropertyGuru delivered strong 35% revenue growth in 2022, with all our segments performing well despite challenging operating conditions. We are pleased with how well our business responded, with proactive cost control actions contributing to a S$25 million year over year improvement in Adjusted EBITDA. Our actions in 2022 have laid the foundation for further revenue growth and improvements in operating performance. We continue to scale the business, accelerate the realization of our investments, and leverage the deployment of further growth capital.”
