Ohmyhome (US:OMH)2024-10-29 17:27Company 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]