OnMobile Global Q4 FY26: EBITDA Up 91.2% YoY to ₹6.5 Crore, Launches Virtual Console
OnMobile Global reported Q4 FY26 EBITDA of ₹6.5 crore, up 91.2% YoY. Full-year FY26 EBITDA rose 110.6% to ₹29.7 crore. The company is set to launch its Virtual Console gaming offering in two weeks, expanding into console and PC gaming. Gaming subscriber base grew 34.5% YoY to 14.3 million.
The launch of a new product line (Virtual Console) targeting a larger market segment (console/PC gaming) and the substantial improvement in profitability metrics (EBITDA) are significant developments that can have a material impact on the company's future financial performance and market position.
The company reported significant YoY growth in EBITDA for both the quarter and the full year, alongside improvements in gross margins. The upcoming launch of the Virtual Console and continued growth in the gaming subscriber base indicate positive future prospects.
OnMobile Global Limited has released its financial results for the fourth quarter and full year ended March 31, 2026. The company has also announced the upcoming launch of its Virtual Console, a new gaming offering.
For Q4 FY26, OnMobile reported a Gross Revenue of ₹129 crore (INR 1,290 Mn), a decrease of 18.8% year-on-year (YoY). However, the company saw a significant improvement in EBITDA, which stood at ₹6.5 crore (INR 65 Mn), marking a 91.2% YoY increase from ₹3.4 crore (INR 34 Mn) in Q4 FY25. The Gross Profit margin improved to 51.5% from 44.9% in the previous year.
For the full fiscal year FY26, Gross Revenue was ₹524.5 crore (INR 5,245 Mn), a 10.2% decrease YoY. Despite the revenue decline, EBITDA saw a substantial growth of 110.6% YoY, reaching ₹29.7 crore (INR 297 Mn) compared to ₹14.1 crore (INR 141 Mn) in FY25. The Gross Margin for FY26 improved to 52.7% from 46.7% in FY25.
The company's Profit After Tax (PAT) for Q4 FY26 was a loss of ₹36.5 crore (INR -365 Mn). However, excluding an impairment provision of ₹46.8 crore (INR -468 Mn), the PAT would be a profit of ₹10.3 crore (INR 103 Mn). For the full year FY26, the PAT was a loss of ₹11.5 crore (INR -115 Mn), but excluding the impairment provision, the PAT would be a profit of ₹35.3 crore (INR 353 Mn).
OnMobile's gaming subscriber base grew by 34.5% YoY to 14.3 million. The company is targeting $3 million in Monthly Recurring Revenue (MRR) for its gaming business within the next 15-18 months, having already reached $1 million MRR in 30 months and $2 million MRR in 30 months. The company is expanding its gaming offerings beyond mobile to include console and PC gaming through its Virtual Console product.
The Virtual Console aims to offer a console-style user experience with HD resolution and smooth frame rates, with a target price point of ₹5,000. It will include a curated library of games and support for bringing one's own games. The company is preparing for the launch announcement within the next two weeks and is leveraging multiple distribution channels including e-commerce, retail, broadband ISPs, Smart TVs, Set-Top Boxes, and mobile operators.
OnMobile's investment rationale highlights the $400 billion gaming industry by 2029, over $35 million invested in technology, and the expectation that gaming revenues will grow by 50% in FY27. The company believes its Virtual Console opens new channels beyond telco, and its current valuation is at a discount compared to gaming industry peers.
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