Transcript of Earnings Call with respect to Financial Reasult for the quater ended June 30, 2026

AI summary - Q1 FY27 revenue grew 34% y-y to INR592 Cr; core revenue up 22%, emerging up 70% - Transactions grew 36%, GMV up 31%; merchant count up 14%, ARPU up 18% - Core EBITDA margin improved to 12.8%, emerging EBITDA loss narrowed from -38% to -24% - Adjusted EBITDA grew 9x to INR8.9 Cr; EBITDA per transaction rose from INR0.22 to INR1.45 - Emerging segment growth driven by omnichannel (92%) and rapid Martech expansion - Customer acquisition cost fluctuates but breaks even quickly; focus on profitable growth - Seasonality: Q3 weaker due to merchants shifting to marketplaces - Platform integrates 42 courier partners and 250+ partners; data-driven routing and cross-sell - Martech leverages purchase data for ads and checkout conversion; growing rapidly - Larger merchants grow faster; mix shift and operating leverage improving margins