Ohmyhome (OMH)

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Ohmyhome (OMH) - 2023 Q4 - Earnings Call Transcript
2024-04-18 14:51
Financial Data and Key Metrics Changes - In 2023, the total operating revenues were S$5 million (US$3.79 million), with a gross profit of S$1.7 million (US$1.3 million) and a net loss of S$5.5 million (US$4.1 million), resulting in a loss per share of S$0.26 (US$0.20) [7] - Adjusted EBITDA for 2023 was negative S$4 million (negative US$3 million) [7] - The company expects substantial triple-digit revenue growth in 2024 [9][36] Business Line Data and Key Metrics Changes - The brokerage business constituted around 53% of total revenue, renovation accounted for approximately 27%, and property management was a new segment contributing the rest [85] - The property management segment is expected to grow significantly due to synergies with the brokerage and renovation businesses [86] Market Data and Key Metrics Changes - The Singapore property market faced notable declines in 2023, influenced by government cooling measures [26] - The company has acquired a property management company, which provides a direct user base of over 6,700 units, growing at a 58% CAGR since inception [39] Company Strategy and Development Direction - The company aims to become a comprehensive property services platform, leveraging technology to enhance efficiency and customer experience [24][76] - Future strategies include increasing market share in existing markets, expanding geographically, and enhancing service offerings to become a property super app [76][79] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in 2023 but emphasized that these setbacks laid the groundwork for a turnaround in 2024 [8] - The company is committed to achieving adjusted EBITDA breakeven by Q4 2024 [36][120] Other Important Information - The company has a shareholding structure where founders hold 36.9%, insiders 7.8%, and public shareholders 55.2% [10] - The last closing price of the stock was US$0.77, significantly lower than the IPO price of US$4 [28] Q&A Session Summary Question: Could you provide insights on the revenue growth from your three major segments? - Management indicated that all three segments (brokerage, renovation, and property management) are expected to grow significantly, particularly brokerage and renovation due to synergies [85][86] Question: How does the company plan to engage condominium owners for upselling? - The company utilizes a tech-based approach, with residents interacting through an app for various services, minimizing the need for human intervention [104] Question: What is the company's strategy for partnerships to increase customer acquisition? - Management highlighted collaborations with influencers and media to promote the company and its products, including Homer AI [90][107] Question: How does the company plan to achieve profitability as revenue grows? - Management assured that costs will not grow as fast as revenue due to prior investments in technology, leading to strong gross margins [110][111] Question: Are there any plans for another securities offering in 2024? - Currently, there are no plans for another securities offering [115]
Ohmyhome (OMH) - 2023 Q2 - Quarterly Report
2023-10-03 12:15
OHMYHOME LIMITED UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS | | December 31, | June 30, | June 30, | | --- | --- | --- | --- | | | 2022 | 2023 | 2023 | | ASSETS | SGD | SGD | USD | | Current assets | | | | | Cash and cash equivalents | 301,433 | 6,348,186 | 4,694,362 | | Accounts receivable, net | 243,716 | 216,324 | 159,967 | | Prepayments | 51,774 | 127,969 | 94,630 | | Amount due from a shareholder | - | - | - | | Other current assets, net | 6,613 | 299,142 | 221,209 | | Total current assets ...
Ohmyhome (OMH) - 2022 Q4 - Annual Report
2023-04-27 20:50
Exhibit 99.1 Ohmyhome Records over 60% Revenue Growth in 2022 Singapore, April 27, 2023 — Ohmyhome Ltd. (NASDAQ: OMH) today announces the following results for the year ended December 31, 2022, as compared to the corresponding period of last fiscal year: Rhonda Wong, CEO of Ohmyhome, expressed satisfaction with the results, saying "We are pleased with our business performance in 2022. Despite the industry wide decline in market transactions by more than 20% in Singapore, our technology continues to increase ...
Ohmyhome (OMH) - 2022 Q4 - Annual Report
2023-04-27 20:46
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR For the transition period from to Commission file number: 001-41647 Ohmyhome Limited (Exact name of Registrant as specified in its charter) Cayman Islands (Jurisdiction of incorporati ...