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Ohmyhome Reports 118% Revenue Growth for Fiscal Year 2024
Globenewswireยท 2025-04-29 12:41
Core Insights - Ohmyhome Ltd. reported a total revenue increase of 118% to S$10.9 million for the fiscal year ended December 31, 2024, compared to S$5.0 million in 2023, indicating strong growth across all business segments [1][5] - The company achieved a gross margin of 40.5%, up from 33.0% in 2023, reflecting operational efficiencies and an improved segment mix [2][5] - EBITDA loss narrowed significantly to S$3.4 million from S$5.1 million in the prior year, with the EBITDA loss margin improving from -103% to -31%, showcasing strong operating leverage [3][5] Financial Performance - Brokerage revenue grew by 39% year-over-year to S$3.9 million, accounting for 36% of total revenue, supported by the deployment of HomerAI and enhanced marketing initiatives [6] - Property Management revenue surged 394% to S$4.2 million, driven by increased demand for tech-enabled estate management solutions following the acquisition of Simply Sakal [6] - Emerging and Other Services revenue increased by 109% to S$2.8 million, primarily due to a rise in office renovation projects [6] Balance Sheet Highlights - Total assets increased modestly to S$10.8 million, while total liabilities decreased to S$4.5 million from S$6.3 million, mainly due to loan repayments [7] - Shareholders' equity strengthened from S$4.0 million to S$6.3 million, indicating improved financial stability [7] Future Outlook - Ohmyhome aims to scale its core businesses through enhanced marketing strategies, AI-powered customer engagement, and further penetration into the condominium market, which are expected to drive continued revenue growth and margin expansion [4]
Ohmyhome (OMH) - 2024 Q4 - Annual Report
2025-04-29 12:37
PART I [Item 3. Key Information](index=9&type=section&id=Item%203.%20Key%20Information) The company faces principal risks categorized into business operations, ordinary shares, and jurisdictional matters [Risk Factors](index=9&type=section&id=3.D.%20Risk%20Factors) Significant risks include reliance on agents, potential unprofitability, intense competition, and shareholder protection issues - The company's brokerage services are a core business, representing **43.7%**, **56.3%**, and **36%** of total revenue for the years 2022, 2023, and 2024, respectively, making it heavily reliant on its Super Agents[40](index=40&type=chunk) - The company has a history of negative cash flow from operating activities, recording **S$3.1 million** in 2022, **S$4.9 million** in 2023, and **S$3.0 million** in 2024, exposing it to liquidity risks[47](index=47&type=chunk) - As a Cayman Islands company, Ohmyhome is permitted to follow home country corporate governance practices, which may offer **less protection to shareholders** compared to full compliance with Nasdaq Listing Rules[141](index=141&type=chunk) - The company is an 'emerging growth company' and has elected to use the extended transition period for complying with new or revised accounting standards, which may make its **financial statements not directly comparable** to other public companies[161](index=161&type=chunk) - Recent acquisitions, such as Simply Sakal, introduce risks related to **business integration**, cultural compatibility, and potential exposure to unknown liabilities[114](index=114&type=chunk)[118](index=118&type=chunk) [Item 4. Information on the Group](index=41&type=section&id=Item%204.%20Information%20on%20the%20Group) The company operates a one-stop property technology platform, detailing its history, structure, and recent strategic acquisitions [History and Development of the Group](index=41&type=section&id=4.A.%20History%20and%20Development%20of%20the%20Group) Founded in 2015, the company evolved into a comprehensive property platform and recently acquired Simply Sakal to expand services - The Group's history began in 2015 with the establishment of Ohmyhome (S) to provide a self-served platform for listing and searching homes[172](index=172&type=chunk) - A significant corporate action was the acquisition of 100% of Simply Sakal Pte Ltd on October 6, 2023, for a total consideration of **S$4.712 million**, satisfied through a mix of cash and shares[177](index=177&type=chunk)[205](index=205&type=chunk) [Business Overview](index=45&type=section&id=4.B.%20Business%20Overview) The company operates a data-driven property platform in Singapore and Malaysia, leveraging proprietary technology for transaction efficiency Revenue Breakdown by Service (FY 2022-2024) | Service Line | FY 2022 Revenue (S$) | FY 2023 Revenue (S$) | FY 2024 Revenue (S$) | | :--- | :--- | :--- | :--- | | Brokerage Services | 3,072,060 (43.7%) | 2,817,930 (56.3%) | 3,906,953 (36.0%) | | Emerging and Other Services | 3,953,532 (56.3%) | 1,339,837 (26.6%) | 2,796,274 (26.0%) | | Property Management Services | - | 846,726 (16.8%) | 4,182,808 (38.0%) | | **Total Revenue** | **7,025,592** | **5,004,493** | **10,886,035** | - The company completed its IPO on March 23, 2023, issuing **2.8 million Ordinary Shares** at US$4.00 per share, raising gross proceeds of **US$11.2 million**[201](index=201&type=chunk) - Ohmyhome acquired 100% of Simply Sakal Pte Ltd, a tech-enabled property management company, on October 6, 2023, for a total consideration of **S$4.712 million**[205](index=205&type=chunk) - The company utilizes proprietary technology, including MATCH and HomerAI, to enhance service efficiency, with its Super Agents completing transactions over **16 times more efficiently** than the industry average[261](index=261&type=chunk)[262](index=262&type=chunk)[263](index=263&type=chunk) - The company received a notice from Nasdaq on April 30, 2024, for failing to maintain a minimum bid price of $1.00 and regained compliance after a **1-for-10 reverse stock split**[211](index=211&type=chunk)[214](index=214&type=chunk)[210](index=210&type=chunk) [Property, Plant and Equipment](index=65&type=section&id=4.D.%20Property,%20Plant%20and%20Equipment) The company operates from leased properties and protects its intellectual property through trademarks and confidentiality agreements - The company **does not own any real estate**; its principal executive office and other operational facilities are leased[330](index=330&type=chunk)[331](index=331&type=chunk) - As of December 31, 2023, the Group holds **registered trademarks** in Singapore and the Philippines, with an application pending in Malaysia[332](index=332&type=chunk)[334](index=334&type=chunk) [Item 5. Operating and Financial Review and Prospects](index=68&type=section&id=Item%205.%20Operating%20and%20Financial%20Review%20and%20Prospects) The company's financial performance shows strong revenue growth offset by net losses and negative operating cash flow [Operating Results](index=68&type=section&id=5.A.%20Operating%20Results) Revenue grew 117.5% in 2024, driven by brokerage and property management, while net loss improved from the prior year Key Financial Performance (2022-2024) | Metric | 2022 (SGD) | 2023 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | :--- | | **Total Revenue** | 7,025,592 | 5,004,493 | 10,886,035 | | **Gross Profit** | 2,316,914 | 1,719,652 | 4,406,189 | | **Gross Margin** | 33% | 34% | 40% | | **Net Loss** | (3,074,041) | (5,516,224) | (4,362,274) | Key Business Metrics (2022-2024) | Metric | 2022 | 2023 | 2024 | | :--- | :--- | :--- | :--- | | Agent Brokerage Transactions | 746 | 568 | 681 | | Gross Transaction Value (USD M) | 615.1 | 449.9 | 429.3 | | Units under Management | 4,648 | 6,746 | 9,067 | - Total revenue grew by **117.5%** in 2024, primarily due to a **38.6%** growth in brokerage services revenue and a **394.0%** growth in property management services revenue following the acquisition of Simply[384](index=384&type=chunk)[387](index=387&type=chunk) - The company's performance is affected by government cooling measures in Singapore, such as increased Additional Buyer's Stamp Duty (ABSD), which depressed the property market in 2023[367](index=367&type=chunk)[110](index=110&type=chunk) [Liquidity and Capital Resources](index=81&type=section&id=5.B.%20Liquidity%20and%20Capital%20Resources) The company faces liquidity challenges with negative operating cash flow, though financing activities have improved its cash position Cash Flow Summary (SGD) | Cash Flow Activity | 2022 | 2023 | 2024 | | :--- | :--- | :--- | :--- | | Net cash used in operating activities | (3,106,317) | (4,854,939) | (3,023,451) | | Net cash provided by (used in) investing activities | 855,401 | (4,534,590) | (1,277,676) | | Net cash provided by financing activities | 1,305,262 | 9,350,155 | 5,124,634 | - The Group had a working capital deficit of **S$152,264** as of December 31, 2024, an improvement from a deficit of S$1,728,148 in 2023[403](index=403&type=chunk) - To support liquidity, the company filed a registration statement on Form F-3 in March 2025, allowing it to offer and sell up to **US$300 million** in securities[404](index=404&type=chunk)[759](index=759&type=chunk) - The independent auditor's report includes a **'Material Uncertainty Related to Going Concern'** clause, citing that the Group's cash position may not be sufficient to meet its obligations without additional financing[730](index=730&type=chunk) [Critical Accounting Policies and Estimates](index=87&type=section&id=5.E.%20Critical%20Accounting%20Policies%20and%20Estimates) Key accounting policies include revenue recognition, business combinations, and impairment testing for intangible assets - The company recognizes revenue from three main sources: brokerage services, emerging and other services, and property management services[453](index=453&type=chunk)[454](index=454&type=chunk) - As an 'emerging growth company', the Group has elected to use the **extended transition period** for complying with new or revised accounting standards[428](index=428&type=chunk) - In 2024, the Group recorded an **impairment loss of $113,707** on customer relationship intangible assets acquired from the Ohmyhome Property Management (Simply) acquisition[445](index=445&type=chunk)[796](index=796&type=chunk) - The Group has two operating segments: (i) Brokerage, emerging and another related service; and (ii) Estate management services and other related services[467](index=467&type=chunk)[822](index=822&type=chunk) [Item 6. Directors, Senior Management and Employees](index=99&type=section&id=Item%206.%20Directors,%20Senior%20Management%20and%20Employees) The company's leadership, compensation structure, board practices, and employee base are detailed [Compensation](index=102&type=section&id=6.B.%20Compensation) Executive compensation is primarily salary-based, supplemented by a recently adopted equity incentive plan and clawback policy Executive Compensation Summary (2024) | Name and Principal Position | Salary (SGD) | Bonus (SGD) | Other Compensation (SGD) | Total (SGD) | | :--- | :--- | :--- | :--- | :--- | | Ms. Rhonda Wong, Co-CEO, CFO | 360,000 | - | 13,872 | 373,872 | | Ms. Race Wong, COO | 360,000 | - | 13,872 | 373,872 | - The company adopted the 2023 Equity Incentive Plan in December 2023, authorizing **2,000,000 ordinary shares** for issuance; as of the report date, 1,025,527 options have been granted[526](index=526&type=chunk) - On December 1, 2023, the Board adopted a **clawback policy** for recovering erroneously awarded incentive-based compensation from executive officers[541](index=541&type=chunk) [Board Practices](index=106&type=section&id=6.C.%20Board%20Practices) The board consists of six members, including three independent directors, and follows Cayman Islands home country practices - The Board of Directors is composed of **six directors**, three of whom are independent[542](index=542&type=chunk) - The company has established an audit committee, a compensation committee, and a nomination committee, with Mr. Ji Gang serving as the **audit committee financial expert**[543](index=543&type=chunk)[544](index=544&type=chunk) [Employees](index=109&type=section&id=6.D.%20Employees) The company's workforce has grown significantly since 2022, with the majority of employees based in Singapore Employee Headcount (Year-End) | Year | Number of Employees | | :--- | :--- | | 2022 | 48 | | 2023 | 112 | | 2024 | 108 | [Share Ownership](index=109&type=section&id=6.E.%20Share%20Ownership) Co-founders Rhonda and Race Wong are the largest beneficial owners through their joint holding company, Anthill Corporation Major Shareholder Ownership (as of Dec 31, 2024) | Name of Beneficial Owner | Number of Shares | Approximate Percentage | | :--- | :--- | :--- | | Anthill | 8,415,406 | 35.67% | | Rhonda Wong (beneficial) | 4,425,268 | 18.76% | | Race Wong (beneficial) | 4,425,268 | 18.76% | | Vienna Management Ltd | 1,785,941 | 7.57% | [Item 7. Major Shareholders and Related Party Transactions](index=111&type=section&id=Item%207.%20Major%20Shareholders%20and%20Related%20Party%20Transactions) The company engaged in significant transactions with entities controlled by its former Chairman and received support from its co-founders - The Group had a significant interest-free loan facility from Vienna Management Ltd, a company owned by the former Chairman, which was **fully settled in March 2023**[563](index=563&type=chunk)[564](index=564&type=chunk) - The Group provided significant renovation services to former Chairman Mr. David Loh, recognizing revenue of **S$2,981,957 in 2022** and **S$511,040 in 2023** from these projects[569](index=569&type=chunk)[571](index=571&type=chunk) - In 2023 and 2024, CEO Rhonda Wong and COO Race Wong provided short-term advances and withheld salary payments to support the company's **working capital needs**[565](index=565&type=chunk)[566](index=566&type=chunk)[567](index=567&type=chunk) [Item 8. Financial Information](index=114&type=section&id=Item%208.%20Financial%20Information) The company has no material legal proceedings and does not anticipate paying cash dividends in the foreseeable future - The company is not currently a party to any **material legal or administrative proceedings**[572](index=572&type=chunk) - The company has **never paid cash dividends** and does not expect to in the foreseeable future, planning to retain earnings for operations and growth[575](index=575&type=chunk) [Item 10. Additional Information](index=115&type=section&id=Item%2010.%20Additional%20Information) The company's legal framework as a Cayman Islands entity differs from U.S. law, with specific tax implications for shareholders - The company is an exempted company incorporated under the laws of the Cayman Islands, which provides for **different corporate governance and shareholder rights** compared to U.S. corporations[605](index=605&type=chunk)[609](index=609&type=chunk) - The Cayman Islands levies **no corporate or income taxes**, and the company has a 20-year undertaking against future taxation[642](index=642&type=chunk)[643](index=643&type=chunk) - Dividends paid by the company are **not subject to Singapore income tax** for shareholders due to Singapore's one-tier corporate tax system[645](index=645&type=chunk)[646](index=646&type=chunk) - The company does not expect to be classified as a **Passive Foreign Investment Company (PFIC)** for U.S. federal income tax purposes for the current taxable year[672](index=672&type=chunk) [Item 11. Quantitative and Qualitative Disclosures About Market Risk](index=131&type=section&id=Item%2011.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports minimal exposure to significant market risks such as interest rate and foreign currency exchange fluctuations - The Group is not subject to significant interest rate risk as it **lacks outstanding loans with variable interest rates**[685](index=685&type=chunk) - Foreign currency exchange risk is considered low, as **over 90% of transactions** are conducted in its reporting currency, the Singapore Dollar[686](index=686&type=chunk) PART II [Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds](index=132&type=section&id=Item%2014.%20Material%20Modifications%20to%20the%20Rights%20of%20Security%20Holders%20and%20Use%20of%20Proceeds) Proceeds from the 2023 IPO and 2024 Follow-On Offering were used for acquisitions, loan repayments, and working capital - The company raised net proceeds of approximately **US$9.7 million** from its March 2023 IPO, used for professional fees, loan repayments, the acquisition of Simply Sakal, and working capital[696](index=696&type=chunk) - A Follow-On Offering in February 2024 raised net proceeds of approximately **US$4.1 million**, which are being used for working capital and other strategic purposes[697](index=697&type=chunk) [Item 15. Controls and Procedures](index=132&type=section&id=Item%2015.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal controls over financial reporting were not effective as of year-end 2024 - Management concluded that as of December 31, 2024, the company's disclosure controls and procedures were **not effective**[700](index=700&type=chunk) - A **material weakness** was identified related to a lack of sufficient financial reporting and accounting personnel with appropriate knowledge of U.S. GAAP and SEC reporting requirements[700](index=700&type=chunk) - Due to the identified material weakness, management also concluded that the company's internal control over financial reporting was **not effective** as of December 31, 2024[700](index=700&type=chunk) [Item 16. Other Information](index=134&type=section&id=Item%2016.%20Other%20Information) This section covers governance appointments, accountant fees, and the company's use of home country governance exemptions - The Board has designated Mr. Ji Gang as the **'audit committee financial expert'**[703](index=703&type=chunk) Principal Accountant Fees (USD) | Year | Audit Fees | | :--- | :--- | | 2022 | 168,000 | | 2023 | 334,888 | | 2024 | 180,000 | - The company follows its home country (Cayman Islands) practice in lieu of Nasdaq Rule 5635(c), which exempts it from requiring **shareholder approval for its 2023 Equity Incentive Plan**[711](index=711&type=chunk)[713](index=713&type=chunk) - The company has a **cybersecurity risk management program** focused on monitoring, risk mitigation, and incident response to safeguard its information systems and data[717](index=717&type=chunk)[718](index=718&type=chunk) PART III [Item 18. Financial Statements](index=136&type=section&id=Item%2018.%20Financial%20Statements) The audited consolidated financial statements are presented, with the auditor's report noting a material uncertainty related to going concern Consolidated Balance Sheet Summary (SGD) | Metric | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | | :--- | :--- | :--- | :--- | | **Total Assets** | 2,168,790 | 10,301,940 | 10,795,222 | | **Total Liabilities** | 4,351,898 | 6,299,365 | 4,495,883 | | **Total Shareholders' (Deficit)/Equity** | (2,183,108) | 4,002,575 | 6,299,339 | Consolidated Statement of Operations Summary (SGD) | Metric | FY 2022 | FY 2023 | FY 2024 | | :--- | :--- | :--- | :--- | | **Total Operating Revenues** | 7,025,592 | 5,004,493 | 10,886,035 | | **Gross Profit** | 2,316,914 | 1,719,652 | 4,406,189 | | **Net Loss** | (3,074,041) | (5,516,224) | (4,362,274) | | **Loss Per Share (Basic)** | (0.19) | (0.31) | (0.19) | - The auditor's report for the 2024 financial statements highlights a **material uncertainty related to the company's ability to continue as a going concern** without obtaining additional financing[730](index=730&type=chunk)
Ohmyhome Ltd Announces Effective Date of Reverse Stock Split
Globenewswireยท 2025-03-06 13:30
Core Viewpoint - Ohmyhome Ltd. has announced a reverse stock split of its ordinary shares at a ratio of 1-for-10, aimed at complying with Nasdaq's minimum bid price requirement [1][4]. Group 1: Reverse Stock Split Details - The reverse stock split will reduce the total number of outstanding ordinary shares from approximately 24 million to about 2.4 million [2]. - The effective date for the reverse stock split is March 10, 2025, and the new par value of the shares will be adjusted to $0.01 per share [3]. - Outstanding warrants and options will be adjusted proportionately in accordance with the reverse stock split, with no fractional shares issued [5]. Group 2: Compliance and Corporate Actions - The reverse stock split is part of Ohmyhome's strategy to meet Nasdaq's requirement of maintaining a minimum bid price of at least $1.00 per share [4]. - The Company has amended its Memorandum of Association to proportionately reduce the number of authorized shares for issuance [3]. Group 3: Company Overview - Ohmyhome is a property technology platform in Singapore, providing end-to-end property solutions including brokerage, renovation, and property management services [7]. - Since its launch in 2016, Ohmyhome has transacted over 15,500 properties and manages approximately 9,300 units as of October 29, 2024 [7].
Ohmyhome (OMH) - 2024 Q3 - Earnings Call Presentation
2024-10-29 17:27
Company Overview - Ohmyhome, listed on Nasdaq under the ticker OMH, operates a data-driven property technology platform in Singapore and Malaysia[1, 13] - The company aims to be the most trusted and comprehensive property solution, bringing speed, ease, and reliability to property-related services[9] - As of October 28, 2024, Ohmyhome has 2341 million shares outstanding and a share price of $044[10] Financial Performance & Growth - Ohmyhome experienced over 100% total revenue growth in H1 2024, with improved margins in Brokerage (46% to 49%), Renovation (23% to 28%), and Property Management (31% to 33%)[14] - The company's net loss narrowed in H1 2024 by S$022 million, and OPEX is expected to reduce significantly from Q3 onwards[14] - Cash balance rose from $18 million to $21 million[19] Key Operational Highlights - Since its inception, Ohmyhome has facilitated over 15,500 transactions, representing a Gross Transaction Value (GTV) of $3 Billion[22] - Agent efficiency is over 13 times the industry average[20, 22] - As of September 30, 2024, Ohmyhome manages over 9,283 units, with a 38% year-over-year increase in property management revenue[22, 46] - Renovation contracts signed in the first 9 months of 2024 reached $243 million, a 286% year-over-year increase[22] HomerAI Impact - GTV transacted via HomerAI users has grown from 0% to over 20% of total Brokerage GTV[28] - Over 31,000 total homes connected as of September 2024, with a total GMV of homes connected exceeding $20 Billion[28] Growth Strategies - Ohmyhome plans to increase market share in existing markets and expand geographically[74] - The company intends to acquire or partner with companies to accelerate growth and increase service offerings to become a property SuperApp[74]
Ohmyhome (OMH) - 2024 Q3 - Earnings Call Transcript
2024-10-29 17:27
Financial Data and Key Metrics Changes - The company reported a revenue growth of 106% in the first half of 2023, increasing from SGD2.17 million to SGD4.47 million [15] - Gross profit nearly doubled, with improvements in gross margins across all business segments: brokerage increased from 46% to 49%, renovation from 23% to 28%, and property management from 31% to 33% [15][16] - As of September 30, 2024, cash balance increased to SGD22.1 million from SGD1.8 million in June [21] Business Line Data and Key Metrics Changes - For the first nine months of 2024, gross transaction value of homes brokered reached SGD212 million, a 51% increase year-on-year [20] - Renovation contracts signed for the first nine months of 2024 totaled SGD2.43 million, representing a 300% increase compared to the same period last year [20] - Units under management in the property management business grew from 6,700 to 9,283, a 30% year-on-year increase [20] Market Data and Key Metrics Changes - The total property transaction GDP remained at SGD334 million, with 63% of transactions going through the company's agents, up from 42% in the previous year [20] - The Singapore housing market is described as vibrant, with government regulations preventing overheating, leading to cash-rich property owners [59][60] Company Strategy and Development Direction - The company aims to be a high-growth prop tech firm with a focus on increasing market share and expanding geographically [49] - The strategy includes acquiring and partnering with companies to accelerate growth and enhancing service offerings to become a comprehensive property solution [49] - The integration of technology, such as HomerAI, is central to improving customer engagement and operational efficiency [67][75] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the Singapore housing market's resilience, noting that property owners are less likely to sell during economic downturns due to taxation policies [60] - The company anticipates increased activity in the market as interest rates decline, which should positively impact transaction volumes [61] - Management emphasized the importance of organic growth and customer acquisition through improved service delivery and brand reputation [56][57] Other Important Information - The company is currently trading at a low valuation multiple of 1.3 times revenue, significantly lower than industry peers [48] - The founders have shown commitment to the business by converting part of their salaries into ordinary shares [10] Q&A Session Summary Question: How did the company increase cash levels? - The increase in cash levels was attributed to closing more deals and renovation contracts, which improved cash flow, alongside reduced losses due to operational efficiencies [52][53] Question: Commentary on the Singapore housing market and economy? - The Singapore housing market is vibrant due to government regulations preventing overheating, with most property owners being cash-rich, which stabilizes prices during economic fluctuations [59][60] Question: How are the property management business and AI tools integrated to grow the business? - The integration of property management services with HomerAI enhances customer engagement and facilitates price discovery, which helps convert users into clients for various services [66][75]
Ohmyhome Reports Stellar Business Growth in the Third Quarter of 2024
GlobeNewswire News Roomยท 2024-10-29 13:15
Core Insights - Ohmyhome Ltd. reported significant business growth across its three segments in Q3 2024, with brokerage GTV increasing by 51% year-over-year, renovation contracts growing by 403% year-over-year, and property management units rising by 23% [1][2]. Group 1: Brokerage Segment - The agent brokerage business achieved a GTV of USD 84 million in Q3 2024, representing a 48.7% increase from USD 56.5 million in Q3 2023, indicating a growing client base and demand for services [3]. Group 2: Renovation Segment - The renovation segment signed contracts totaling SGD 1.93 million (approximately USD 1.46 million) for Q3 2024, a substantial increase from SGD 1.3 million (USD 0.9 million) for the first half of 2024, reflecting robust growth and customer interest [4]. Group 3: Property Management - The property management division expanded to 9,283 units under management, up from 7,560 units as of June 30, 2024, with new projects expected to contribute to revenue growth starting October 2024 [5]. Group 4: Profitability and Cash Flow - The company is focused on achieving profitability and optimizing cash flow, reporting a significant narrowing of losses in Q3 2024 due to improved operational efficiencies and revenue growth [6]. - As of September 30, 2024, cash and cash equivalents increased to SGD 2.7 million (USD 2.1 million) from SGD 2.4 million (USD 1.8 million) as of June 30, 2024, reflecting a commitment to cash flow optimization while investing in growth [7]. Group 5: Company Overview - Ohmyhome is a property technology platform providing end-to-end solutions including brokerage, renovation, and property management services in Singapore, having transacted over 15,500 properties since its launch in 2016 [8].
Ohmyhome to Announce Q3 2024 Growth Updates
GlobeNewswire News Roomยท 2024-10-18 09:00
Core Insights - Ohmyhome Ltd. will announce its third-quarter growth updates on October 29, 2024, following a reported 106% growth in the first half of 2024 [1] - A webinar will be held on the same day to present insights on the company's growth [1] Company Overview - Ohmyhome is a property technology platform in Singapore, offering end-to-end property solutions including brokerage, renovation, and property management services [3] - Since its launch in 2016, Ohmyhome has transacted over 14,500 properties and manages approximately 7,560 units as of June 30, 2024 [3] - The platform has received over 8,000 genuine reviews with an average rating of 4.9 out of 5 stars, making it the highest-rated property transaction platform [3]
Ohmyhome to Announce 2024 Growth Update
GlobeNewswire News Roomยท 2024-06-25 13:15
Core Insights - Ohmyhome Ltd. is a property technology platform in Singapore that offers comprehensive property solutions including brokerage, renovation, and property management services [3][8] - The company will release an update on its growth for 2024 before the market opens on July 5, 2024 [3] - Ohmyhome has successfully transacted over 15,000 properties and manages approximately 6,800 units as of December 31, 2023 [8] Company Overview - Ohmyhome aims to provide speed, ease, and reliability in property-related services, positioning itself as a trusted solution for property needs [5] - The platform has received high customer satisfaction, boasting an average rating of 4.9 out of 5 stars from over 8,000 genuine reviews [8] Upcoming Events - A webinar will be hosted by Ohmyhome to discuss key business updates on the same day as the growth announcement, scheduled for 8:30 a.m. Eastern Standard Time / 8:30 p.m. Singapore Time [7]
Ohmyhome to Announce 2024 Growth Update
Newsfilterยท 2024-06-25 13:15
Company Overview - Ohmyhome Ltd. is a property technology platform in Singapore that offers end-to-end property solutions including brokerage, renovation, and condominium property management services [3] - Since its launch in 2016, Ohmyhome has transacted over 15,000 properties and manages approximately 6,800 units as of December 31, 2023 [3] - The platform is highly rated, with more than 8,000 genuine reviews and an average rating of 4.9 out of 5 stars [3] Upcoming Events - Ohmyhome will release an update on its growth in 2024 before the market opens on July 5, 2024 [1] - A webinar will be hosted on the same day at 8:30 a.m. Eastern Standard Time / 8:30 p.m. Singapore Time to discuss key business updates [4] Company Mission - Ohmyhome aims to provide speed, ease, and reliability in property-related services, aspiring to be the most trusted and comprehensive property solution for everyone [8]
Ohmyhome Reports Robust Performance in the First Quarter of 2024, Anticipates Over 110% y-o-y Revenue Growth in First Half of the Year
Newsfilterยท 2024-05-06 12:30
Singapore, May 06, 2024 (GLOBE NEWSWIRE) -- Ohmyhome Ltd. (NASDAQ:OMH, "Ohmyhome", "the Company"))), a one-stop-shop property technology platform providing end-to-end property solutions and services including brokerage, renovation and condominium property management services in Singapore, is pleased to announce a robust performance in the First Quarter of 2024, demonstrating significant growth across its three main business segments: brokerage, renovation, and property management. Transaction volume increas ...