Amagi is an online cloud media SaaS technology platform that announced a 29.2 percent increase in operational revenue to Rs 879.1 crore in FY24. The startup provides cloud-based CTV ad insertion software. The application includes an analytic feature that offers insights into metrics like total viewership, unique views, and more.
Entrackr reported that the server-side ad insertion platform for OTT content publishers Thunderstorm and Cloudport are the company’s primary sources of revenue. The startup also provides content owners with solutions to distribute, launch, and monetize live linear channels on TV for free. The firm also earns income through gains from sales of other investments.
The United States was the largest contributor, accounting for 67.3 percent of the total revenue, and stood at Rs 591.5 crore in the last financial year. The total sales formed 13.1 percent and increased by 31.10 percent to Rs 115.5 crore in FY24. Meanwhile, India contributed less than 1 percent of the total collection and saw a 54.29 percent drop to Rs 8 crore.
The company has secured over $359 million across multiple funding rounds since its inception, including $100 million raised during its series F funding round led by General Atlantic, Accel, Norwest Venture Partners, and other investors.
The data intelligence platform, tracxn mentioned that the company’s post-money valuation is around 1.44 billion USD. The platform offers VOD, live orchestration, ad scheduler, and more. The startup also provides ad-supported television and video service platforms. The depreciation and amortization cost increased by 84 percent to Rs 16.3 crore while the financial cost saw a 58 percent increase and stood at 5.2 crore in FY24.
The total expenditure of the firm increased by 13.4 percent to Rs 1179.1 crore in FY24. The startup reported a 23.7 percent decrease in its losses of Rs 245 crore in the same duration. Meanwhile, the employee benefits increased by 10.8 percent in this financial year. The legal, professional, and IT expenses stood at Rs 49.33 crore in the same period. The company intends to control its losses by reducing operating expenses and employee benefits.
The startup recently achieved its unicorn status after securing $95 million from Investor. The company aims to raise $250 million in upcoming funding rounds. The EBITDA margin stood at -22.86 percent while the ROCE was around -24.43 percent. Amagi faces competition from other platforms in the same market segment such as Avid Technology and Vimeo.
Conclusion :
The cloud media platform Amagi announced a 29.2 percent increase in operational revenue to 879.1 crore in FY24. This startup offers CTV ad insertion software and analytics features like viewer counts. Thunderstorm and Cloudport are the firm’s primary sources of revenue. The loss also decreased by 23.7 percent to Rs 245 crore in FY24.
The total expenditure of the firm increased by 13.4 percent and crossed Rs 1179.1 crore in the same duration. The company plans to minimize its operating and employee expenses. The company has secured over 359 million USD across multiple funding rounds to date.
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