Ohmyhome Limited ( (OMH) ) has realeased its Q3 earnings. Here is a breakdown of the information Ohmyhome Limited presented to its investors.
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Ohmyhome Limited is a property technology platform based in Singapore, offering comprehensive property solutions and services such as brokerage, renovation, and property management.
In its latest earnings report for the third quarter of 2024, Ohmyhome Limited highlighted significant business growth across its various segments, showcasing a promising expansion trajectory. The company reported a 51% year-over-year increase in brokerage gross transaction value (GTV), substantial growth in renovation contracts, and a marked rise in the number of property management units under its care.
The agent brokerage segment recorded a gross transaction value of USD 84 million, a notable 48.7% increase from the previous year. The renovation segment also experienced impressive growth, with a rise in contract values to USD 1.46 million, reflecting strong customer interest in its services. Additionally, the property management division expanded its portfolio to 9,283 units, up from 7,560 units in the previous quarter, indicating a strengthening market presence.
Looking ahead, Ohmyhome remains committed to enhancing operational efficiency and profitability. With a focus on cash flow optimization, the company has managed to increase its cash reserves to USD 2.1 million, positioning itself strongly for future growth. Management expresses confidence in achieving breakeven and profitability soon, bolstered by ongoing revenue growth and strategic investments.
