Revenues Grow 17% Year Over Year in the Fourth
Quarter and 35% for the Full Year 2022
- Total revenue grew 35% to S$136 million in 2022, with over 20%
year on year growth in every segment
- Adjusted EBITDA of S$14 million in 2022, up S$25 million from a
loss of S$10 million in 2021
- Marketplaces 2022 Adjusted EBITDA increased 2.6x over 2021
PropertyGuru Group Limited (NYSE: PGRU)
(“PropertyGuru” or the “Company”), Southeast Asia’s leading1
property technology (“PropTech”) company, today announced financial
results for the quarter ended December 31, 2022. Revenue of S$40
million in the fourth quarter 2022 increased 17% year over year.
Net loss was S$5 million in the fourth quarter and Adjusted EBITDA2
was a positive S$5 million. This compares to a net loss of S$27
million3 and Adjusted EBITDA loss of S$4 million in the fourth
quarter of 2021.
Management Commentary
Hari V. Krishnan, Chief Executive Officer and Managing
Director, said: “We are pleased with our results, as
PropertyGuru performed well in the face of several transitory
challenges that continue to impact our core markets. While rising
interest rates and government credit intervention weighed on market
activity, we remained resilient and delivered good growth by
helping our customers navigate the challenges they faced and
confirming the value add of our solutions in all phases of the real
estate cycle.”
“Last year was a historic year for PropertyGuru, as we took the
next step in our company’s evolution by listing on the NYSE. Going
forward, we see great opportunity in 2023 and beyond as we continue
to offer our customers differentiated solutions while looking to
opportunistically deploy capital to accelerate the Company’s
ongoing expansion. Sendhelper is a good example of a strategic
acquisition we are excited about given the value it creates for our
large audience base, and the underlying synergies between the
companies,” Mr. Krishnan continued. “Rising rates, global
inflation, and governmental fiscal activity are challenges that
will need to be navigated in the near-term. We remain bullish on
our ability to deliver value to our customers as we digitize the
property ecosystem and bring transparency and efficiency. We
believe that our markets in Southeast Asia will be at the forefront
of future global growth.”
Joe Dische, Chief Financial Officer, added: “PropertyGuru
delivered strong 35% revenue growth in 20224, with all our segments
performing well despite challenging operating conditions. We are
pleased with how well our business responded, with proactive cost
control actions contributing to a S$25 million year over year
improvement in Adjusted EBITDA. Our actions in 2022 have laid the
foundation for further revenue growth and improvements in operating
performance. We continue to scale the business, accelerate the
realization of our investments, and leverage the deployment of
further growth capital.”
Financial Highlights – Fourth Quarter and Full Year
2022
- Total revenue increased 17% to S$40 million in the fourth
quarter as compared to the previous year and increased 35% to S$136
million year over year.
- Marketplaces revenues increased 15% to S$38 million in the
fourth quarter as compared to the previous year and increased 34%
to S$131 million year over year, as continued strength in Singapore
and Malaysia offset challenges in the Vietnam market due to credit
restrictions in the latter part of the year.
- Singapore Marketplaces revenue increased 15% to S$19 million in
the fourth quarter as compared to the previous year and increased
24% to $69 million year over year as a result of both increased
Average Revenue Per Agent (“ARPA”) and an increase in overall
agents. Quarterly ARPA was up 20% in the fourth quarter to S$1,076
as compared to the previous year and up 24% year over year to
S$4,078 in 2022. In the fourth quarter, there were 15,529 agents
with a renewal rate of 79% in the quarter.
- Malaysia Marketplaces revenue increased 28% to S$8 million in
the fourth quarter as compared to the previous year and increased
77% to $25 million year over year, as the Company continues to
leverage our two market leading brands and benefit from the
acquisition of the iProperty business in August 2021.
- Vietnam Marketplaces revenue decreased 7% to S$6 million in the
fourth quarter as compared to the previous year and increased 28%
to S$24 million year over year, as governmental actions to tighten
credit impacted the overall number of listings in the market. The
number of listings was down 22% to 1.6 million in the fourth
quarter as compared to the prior year quarter. The average revenue
per listing (“ARPL”) was up 22% to S$3.25 in the fourth quarter as
compared to the prior year quarter and up 8% to S$2.97 year over
year.
- At year-end, cash and cash equivalents was S$309 million.
Information regarding our operating segments is presented
below.
For the Three Months Ended
December 31
2022
2021
YoY Growth
(S$ in thousands except
percentages)
Revenue
40,097
34,329
16.8%
Marketplaces
38,350
33,299
15.2%
Singapore
18,805
16,382
14.8%
Vietnam
5,870
6,304
-6.9%
Malaysia
7,531
5,888
27.9%
Other Asia
6,144
4,725
30.0%
Fintech and data services
1,747
1,030
69.6%
Adjusted EBITDA
4,829
(4,149)
Marketplaces
18,240
6,321
Singapore
11,441
6,709
Vietnam
722
655
Malaysia
3,429
(2,026)
Other Asia
2,648
983
Fintech and data services
(1,981)
(1,546)
Corporate*
(11,430)
(8,924)
Adjusted EBITDA Margin (%)
12.0%
-12.1%
Marketplaces
47.6%
19.0%
Singapore
60.8%
41.0%
Vietnam
12.3%
10.4%
Malaysia
45.5%
-34.4%
Other Asia
43.1%
20.8%
Fintech and data services
-113.4%
-150.1%
For the Twelve Months Ended
December 31
2022
2021
YoY Growth
(S$ in thousands except
percentages)
Revenue
135,925
100,711
35.0%
Marketplaces
130,861
97,334
34.4%
Singapore
69,241
55,891
23.9%
Vietnam
24,040
18,767
28.1%
Malaysia
25,388
14,315
77.4%
Other Asia
12,192
8,361
45.8%
Fintech and data services
5,064
3,377
50.0%
Adjusted EBITDA
14,466
(10,372)
Marketplaces
63,045
23,746
Singapore
47,626
33,355
Vietnam
5,470
2,063
Malaysia
10,208
(10,440)
Other Asia
(259)
(1,232)
Fintech and data services
(7,385)
(4,634)
Corporate*
(41,194)
(29,484)
Adjusted EBITDA Margin (%)
10.6%
-10.3%
Marketplaces
48.2%
24.4%
Singapore
68.8%
59.7%
Vietnam
22.8%
11.0%
Malaysia
40.2%
-72.9%
Other Asia
-2.1%
-14.7%
Fintech and data services
-145.8%
-137.2%
*Corporate consists of headquarters
costs, which are not allocated to the segments. Headquarters costs
are costs of PropertyGuru’s personnel that are based predominantly
in its Singapore headquarters and certain key personnel in Malaysia
and Thailand, and that service PropertyGuru’s group as a whole,
consisting of its executive officers and its group marketing,
technology, product, human resources, finance and operations teams,
as well as platform IT costs (hosting, licensing, domain fees),
workplace facilities costs, corporate public relations retainer
costs and professional fees such as audit, legal and consultant
fees. Certain elements of marketing expenses previously allocated
to Corporate in the first quarter 2022 have since been moved to
business segments in line with changes to internal reporting
lines.
Strong Category Leadership Drives Long-Term Growth
Opportunities
As of December 31, 2022, PropertyGuru continued its Engagement
Market Share1 leadership in Singapore, Vietnam, Malaysia, and
Thailand.
Singapore: 81 % – 5.2x the closest peer
Thailand: 58% – 2.5x the closest peer
Vietnam: 75% –
3.1x the closest peer
Indonesia: 22% – 0.3x the
closest peer
Malaysia: 93% – 15.2x the closest peer
Full Year 2023 Outlook
The Company anticipates full year 2023 revenues of between S$160
million and S$170 million and Adjusted EBITDA of between S$11
million and S$15 million. In the near-term, the integration and
scaling of the Sendhelper acquisition is expected to negatively
impact profitability by S$3 million to S$4 million in 2023.
Beginning in the first quarter of 2023, the Company will no longer
remove the ongoing cost of being a listed entity when calculating
Adjusted EBITDA. For 2023, the Company anticipates that such costs
will be between S$11 million to S$12 million. For 2022, such costs
were S$11 million, and on this basis the Company’s full year 2022
Adjusted EBITDA would be S$3 million.
The following short-term factors may continue to impact the
Company’s operations and warrant a conservative outlook in 2023:
actions by the government of Vietnam to rein in the availability of
consumer credit, residual political uncertainty in Malaysia,
tightened residential policies in Singapore, a lack of clarity in
global fiscal policy stemming from rising interest rates, greater
inflationary pressures, and global supply chain issues.
Longer-term, the Company remains bullish on its growth trajectory,
prospects for improving profitability, and the fundamental
opportunity that exists in our core markets.
Conference Call and Webcast Details
The Company will host a conference call and webcast on
Wednesday, March 1, 2023, at 8:00 a.m. Eastern Standard Time / 9:00
p.m. Singapore Standard Time to discuss the Company's financial
results and outlook. The PropertyGuru (NYSE: PGRU) Q4 2022 Earnings
call can be accessed by registering at:
https://propertyguru.zoom.us/webinar/register/WN_KYdeZj7TQzW-8UifD2sWAQ
An archived version will be available on the Company’s Investor
Relations website after the call at
https://investors.propertygurugroup.com/news-and-events/events-and-presentations/default.aspx
About PropertyGuru Group
PropertyGuru is Southeast Asia’s leading1 PropTech company, and
the preferred destination for over 41 million property seekers5 to
connect with more than 63,000 agents6 monthly to find their dream
home. PropertyGuru empowers property seekers with more than 3.2
million real estate listings7, in-depth insights, and solutions
that enable them to make confident property decisions across
Singapore, Malaysia, Thailand, Indonesia, and Vietnam.
PropertyGuru.com.sg was launched in Singapore in 2007 and since
then PropertyGuru Group has made the property journey a transparent
one for property seekers in Southeast Asia. In the last 15 years,
PropertyGuru has grown into a high-growth PropTech company with a
robust portfolio of leading property marketplaces across its core
markets; award-winning mobile apps; mortgage marketplace,
PropertyGuru Finance; and a host of enterprise solutions now under
PropertyGuru For Business, including a high-quality developer sales
enablement platform, FastKey, DataSense, ValueNet, Awards, events
and publications across Asia.
For more information, please visit: PropertyGuruGroup.com;
PropertyGuru Group on LinkedIn.
Key Performance Metrics and Non-IFRS Financial
Measures
Our priority markets comprise Singapore, Vietnam, Malaysia and
Thailand. Our core markets comprise Singapore, Vietnam, Malaysia,
Thailand and Indonesia.
Engagement Market Share is the average monthly engagement for
websites owned by PropertyGuru as compared to average monthly
engagement for a basket of peers calculated over the relevant
period. Engagement is calculated as the number of visits to a
website during a period multiplied by the total amount of time
spent on that website for the same period, in each case based on
data from SimilarWeb. Engagement Market Share is based on the
prevailing SimilarWeb algorithm on the date the Company first filed
or furnished such information to the U.S. Securities and Exchange
Commission (“SEC”).
Number of agents in all core markets except Vietnam is
calculated for a period as the sum of the number of agents with a
valid 12-month subscription package at the end of each month in a
period divided by the number of months in such period. In Vietnam,
number of agents is calculated as the number of agents who credit
money into their account within the relevant period. When counting
in aggregate across the PropertyGuru group, in markets where
PropertyGuru operates more than one property portal, an agent with
subscriptions to more than one portal is only counted once.
Number of real estate listings is calculated as the average
number of listings created monthly during the period for Vietnam
and the average number of monthly listings available in the period
for other markets.
Average revenue per agent (“ARPA”) is calculated as agent
revenue for a period divided by the average number of agents in
that period, which is calculated as the sum of the number of total
agents at the end of each month in a period divided by the number
of months in such period.
Number of listings in Vietnam is calculated as the sum of all
listings created in each month over the relevant period (other than
listings from promotional accounts). Number of listings is used to
calculate average revenue per listing, which is described
below.
Average revenue per listing ("ARPL”) is calculated as revenue
for a period divided by the number of listings in such period.
Renewal rate is calculated as the number of agents that
successfully renew their annual package during a period divided by
the number of agents whose packages are up for renewal (at the end
of their twelve-month subscription) during that period.
This press release also includes references to non-IFRS
financial measures, namely Adjusted EBITDA and Adjusted EBITDA
Margin. PropertyGuru uses these measures, collectively, to evaluate
ongoing operations and for internal planning and forecasting
purposes. PropertyGuru believes that non-IFRS information, when
taken collectively, may be helpful to investors because it provides
consistency and comparability with past financial performance and
may assist in comparisons with other companies to the extent that
such other companies use similar non-IFRS measures to supplement
their IFRS or GAAP results. These non-IFRS measures are presented
for supplemental informational purposes only and should not be
considered a substitute for financial information presented in
accordance with IFRS, and may be different from similarly titled
non-IFRS measures used by other companies. Accordingly, non-IFRS
measures have limitations as analytical tools, and should not be
considered in isolation or as substitutes for analysis of other
IFRS financial measures, such as net loss and loss before income
tax.
Adjusted EBITDA is a non-IFRS financial measure defined as net
loss for year/period adjusted for changes in fair value of
preferred shares, warrant liability and embedded derivatives,
finance costs, depreciation and amortization expense, tax expenses
or credits, impairments when the impairment is the result of an
isolated, non-recurring events, share grant and option expenses,
loss on disposal of plant and equipment and intangible assets,
currency translation loss, business acquisition transaction and
integration costs, legal and professional expenses incurred for
IPO, share listing expenses and on-going costs of a listed entity.
Adjusted EBITDA Margin is defined as Adjusted EBITDA as a
percentage of revenue.
A reconciliation of net loss to Adjusted EBITDA is provided as
follows:
For the Three Months Ended
December 31,
2022
2021
(S$ in thousands)
Net loss
(5,251)
(27,225)
Adjustments:
Changes in fair value of preferred shares,
warrant liability and embedded derivatives
(650)
-
Finance (income)/costs - net
(1,090)
496
Depreciation and amortisation expense
5,425
5,169
Share grant and option expenses
1,091
6,759
Other losses - net
5
153
Business acquisition transaction and
integration cost
747
7,031
Legal and professional fees incurred for
IPO
-
3,818
On-going cost of a listed entity
4,035
-
Tax expense/(credit)
517
(350)
Adjusted EBITDA
4,829
(4,149)
For the Twelve Months Ended
December 31,
2022
2021
(S$ in thousands)
Net loss
(129,220)
(187,413)
Adjustments:
Changes in fair value of preferred shares,
warrant liability and
embedded derivatives
(23,341)
124,146
Finance costs - net
680
13,453
Depreciation and amortisation expense
21,172
14,032
Impairment
-
8
Share grant and option expenses
5,524
10,470
Other losses - net
1,471
815
Business acquisition transaction and
integration cost
4,378
8,380
Legal and professional fees incurred for
IPO
16,570
6,070
Share listing expense
104,950
-
On-going cost of a listed entity
11,182
-
Tax expense/(credit)
1,100
(333)
Adjusted EBITDA
14,466
(10,372)
Forward-Looking Statements
Forward-looking statements in this press release, which are not
historical facts, are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1955. These
statements include statements regarding our future results of
operations and financial position, planned products and services,
business strategy and plans, objectives of management for future
operations of PropertyGuru, market size and growth opportunities,
competitive position and technological and market trends and
involve known and unknown risks that are difficult to predict. As a
result, our actual results, performance or achievements may differ
materially from those expressed or implied by these forward-looking
statements. In some cases, you can identify forward-looking
statements because they contain words such as “may,” “will,”
“shall,” “should,” “expects,” “plans,” “anticipates,” “could,”
“intends,” “target,” “projects,” “contemplates,” “believes,”
“estimates,” “predicts,” “potential,” “goal,” “objective,” “seeks,”
or “continue” or the negative of these words or other similar terms
or expressions that concern our expectations, strategy, plans, or
intentions. Such forward-looking statements are necessarily based
upon estimates and assumptions that, while considered reasonable by
us and our management, are inherently uncertain. Factors that may
cause actual results to differ materially from current expectations
include, but are not limited to: changes in domestic and foreign
business, market, financial, political and legal conditions;
competitive pressures in and any disruption to the industry in
which PropertyGuru and its subsidiaries (the “Group”) operates; the
Group’s ability to achieve profitability despite a history of
losses; the Group’s ability to implement its growth strategies and
manage its growth; customers of the Group continuing to make
valuable contributions to its platform; the Group’s ability to meet
consumer expectations; the success of the Group’s new product or
service offerings; the Group’s ability to produce accurate
forecasts of its operating and financial results; the Group’s
ability to attract traffic to its websites; the Group’s ability to
assess property values accurately; the Group’s internal controls;
the impact of rising inflation and interest rates on the Group’s
business, real estate markets and the economy in general; the
impact of government and regulatory policies on real estate or
credit markets in the countries in which the Group operates; the
war in Ukraine and escalating geopolitical tensions as a result of
Russia's invasion of Ukraine; fluctuations in foreign currency
exchange rates; the Group’s ability to raise capital; media
coverage of the Group; the Group’s ability to obtain insurance
coverage; changes in the regulatory environments (such as
anti-trust laws, foreign ownership restrictions and tax regimes) of
the countries in which the Group operates; general economic
conditions in the countries in which the Group operates; political
instability in the jurisdictions in which the Group operates; the
Group’s ability to attract and retain management and skilled
employees; the impact of the COVID-19 pandemic on the business of
the Group; the Group’s ability to integrate newly acquired
businesses or companies and the success of the Group’s strategic
investments and acquisitions; changes in the Group’s relationship
with its current customers, suppliers and service providers;
disruptions to information technology systems and networks; the
Group’s ability to grow and protect its brand and the Group’s
reputation; the Group’s ability to protect its intellectual
property; changes in regulation and other contingencies; the
Group’s ability to achieve tax efficiencies of its corporate
structure and intercompany arrangements; potential and future
litigation that the Group may be involved in; unanticipated losses,
write-downs or write-offs; restructuring and impairment or other
charges, taxes or other liabilities that may be incurred or
required subsequent to, or in connection with, the consummation of
the Group’s completed business combination; technological
advancements in the Group’s industry; and other risks discussed in
our filings with the SEC.
All forward-looking statements attributable to us or persons
acting on our behalf are expressly qualified in their entirety by
the cautionary statements set forth above. We caution you not to
place undue reliance on any forward-looking statements, which are
made only as of the date of this press release. We do not undertake
or assume any obligation to update publicly any of these
forward-looking statements to reflect actual results, new
information or future events, changes in assumptions or changes in
other factors affecting forward-looking statements, except to the
extent required by applicable law. If we update one or more
forward-looking statements, no inference should be drawn that we
will make additional updates with respect to those or other
forward-looking statements. The inclusion of any statement in this
press release does not constitute an admission by PropertyGuru or
any other person that the events or circumstances described in such
statement are material. Undue reliance should not be placed upon
the forward-looking statements.
Industry and Market Data
This press release contains information, estimates and other
statistical data derived from third party sources and/or industry
or general publications, including estimated insights from
SimilarWeb and Google Analytics. Such information involves a number
of assumptions and limitations, and you are cautioned not to place
undue weight on such estimates. PropertyGuru has not independently
verified such third-party information, and makes no representation
as to the accuracy of such third-party information.
PROPERTYGURU GROUP LIMITED AND
ITS SUBSIDIARIES
UNAUDITED CONSOLIDATED
STATEMENTS OF COMPREHENSIVE LOSS
For the Three Months Ended
December 31,
For the Twelve Months Ended
December 31,
2022
2021
2022
2021
(S$ in thousands, except share
and per share data)
Revenue
40,097
34,329
135,925
100,711
Other income
1,334
285
2,787
1,723
Other gains/(losses) - net
644
(153)
21,870
(124,961)
Expenses
Venue costs
(3,382)
(3,323)
(6,864)
(5,859)
Sales and marketing cost
(5,581)
(7,986)
(20,955)
(26,297)
Sales commission
(2,694)
(2,862)
(11,163)
(7,880)
Impairment loss on financial assets
(1,263)
(2,186)
(1,180)
(2,138)
Depreciation and amortisation
(5,425)
(5,169)
(21,172)
(14,032)
Impairment of intangible assets
-
-
-
(8)
IT and Internet expenses
(3,191)
(2,246)
(11,313)
(7,882)
Legal and professional
(3,003)
(7,810)
(7,596)
(9,807)
Employee compensation
(16,558)
(22,650)
(69,977)
(65,184)
Non-executive directors' remuneration
(303)
(2,067)
(2,356)
(2,503)
Staff cost
(745)
(648)
(2,166)
(1,290)
Office rental
(19)
(34)
(71)
(91)
Finance cost
(145)
(603)
(2,396)
(13,909)
Legal and professional fees incurred for
IPO
-
(3,818)
(16,570)
(6,070)
Share listing expense
-
-
(104,950)
-
Other expenses
(4,500)
(634)
(9,973)
(2,269)
Total expenses
(46,809)
(62,036)
(288,702)
(165,219)
Loss before income tax
(4,734)
(27,575)
(128,120)
(187,746)
Tax (expenses)/credit
(517)
350
(1,100)
333
Net loss for the period
(5,251)
(27,225)
(129,220)
(187,413)
Other comprehensive (loss)/income:
Items that may be reclassified
subsequently to profit or loss:
Currency translation differences arising
from consolidation
(29,615)
542
(19,703)
5,672
Actuarial loss from post-employment
benefits obligation
(13)
(36)
(15)
(36)
Other comprehensive (loss)/income for the
period, net of tax
(29,628)
506
(19,718)
5,636
Total comprehensive loss for the
period
(34,879)
(26,719)
(148,938)
(181,777)
Loss per share for loss attributable to
equity holders of the Company
Basic and diluted loss per share for the
period
(0.03)
(0.21)
(0.84)
(2.03)
PROPERTYGURU GROUP LIMITED AND
ITS SUBSIDIARIES
UNAUDITED CONDSOLIDATED
BALANCE SHEETS
As of December 31,
2022
As of December 31,
2021
(S$ in thousands)
ASSETS
Current assets
Cash and cash equivalents
309,233
70,236
Trade and other receivables
18,145
17,655
327,378
87,891
Non-current assets
Trade and other receivables
4,559
1,564
Intangible assets
393,450
401,157
Plant and equipment
2,535
3,329
Right-of-use assets
11,475
15,419
412,019
421,469
Total assets
739,397
509,360
LIABILITIES
Current liabilities
Trade and other payables
29,737
32,921
Lease liabilities
4,104
4,439
Borrowings
-
170
Deferred revenue
50,753
47,318
Provisions for reinstatement cost
280
36
Current income tax liabilities
4,302
4,554
89,176
89,438
Non-current liabilities
Trade and other payables
296
603
Lease liabilities
8,339
12,452
Borrowings
-
16,732
Deferred income tax liabilities
1,879
2,375
Provisions for reinstatement cost
672
569
Warrant liabilities
4,775
-
15,961
32,731
Total liabilities
105,137
122,169
Net assets
634,260
387,191
SHAREHOLDERS' EQUITY
Capital and reserves attributable to
equity holders of the Group
Share capital
1,081,320
684,347
Share reserve
17,692
18,658
Capital reserve
785
785
Warrant reserve
-
5,742
Translation reserve
(16,961)
2,742
Accumulated losses
(448,576)
(325,083)
Total shareholders' equity
634,260
387,191
PROPERTYGURU GROUP LIMITED AND
ITS SUBSIDIARIES
UNAUDITED CONSOLIDATED
STATEMENTS OF CASH FLOWS
For the Twelve Months Ended
December 31
2022
2021
(S$ in thousands)
Cash flows from operating
activities
Loss for the period
(129,220)
(187,413)
Adjustments for:
- Tax expense/(credit)
1,100
(333)
- Employee share grant and option
expense
3,856
8,542
- Non-executive director share grant and
option expense
1,848
2,108
- Depreciation and amortisation
21,172
14,032
- Impairment of intangible assets
-
8
- Loss on disposal of plant and equipment
and intangible assets
101
3
- Impairment loss on financial assets
1,180
2,138
- Gain on lease modification
(194)
-
- Interest income
(1,716)
(456)
- Finance costs
2,396
13,909
- Unrealised currency translation
losses
2,384
245
- Fair value loss of Series B, D1, E and F
conversion options
-
124,146
- Fair value gain on warrant
liabilities
(23,341)
-
- Share listing expense
104,950
-
(15,484)
(23,071)
Change in working capital, net of effects
from acquisition
and disposal of subsidiaries:
- Trade and other receivables
(3,239)
(1,676)
- Trade and other payables
(7,415)
14,891
- Deferred revenue
3,371
9,070
Cash provided by operations
(22,767)
(786)
Interest received
1,704
440
Income tax paid
(1,586)
(2,104)
Net cash used in operating
activities
(22,649)
(2,450)
Cash flows from investing
activities
Additions to plant and equipment
(1,431)
(1,673)
Additions of intangible assets
(22,179)
(12,816)
Acquisition of subsidiaries, net of cash
acquired
(2,234)
3,722
Proceeds from disposal of plant and
equipment
31
13
Net cash used in investing
activities
(25,813)
(10,754)
Cash flows from financing
activities
Interest paid
(2,214)
(1,207)
(Repayment of)/Proceeds from
borrowings
(17,057)
11,000
Borrowings transaction cost
-
(449)
Principal payment of lease liabilities
(4,324)
(4,062)
Proceeds from reorganisation
142,145
-
Proceeds from the shares issued to PIPE
investors
178,653
-
Transaction cost in relation to issuance
of PIPE shares
(7,664)
-
Proceeds from issuance of ordinary
shares
1,733
80
Repayment of convertible notes
-
(11,261)
Payment for legal and professional fees
incurred for IPO
-
(4,020)
Net cash provided by/(used in)
financing activities
291,272
(9,919)
Net increase/(decrease) in cash and
cash equivalents
242,810
(23,123)
Cash and cash equivalents
Beginning of the twelve months ended 31
December
70,236
93,359
Effect of currency translation on cash and
cash equivalents
(3,813)
-
End of the twelve months ended 31
December
309,233
70,236
1 Based on SimilarWeb data between July 2022 and December 2022.
2 Included in the S$10 million of adjustments between net loss and
Adjusted EBITDA in the fourth quarter of 2022 was a S$5 million
depreciation and amortization expense. 3 Included in the S$23
million of adjustments between net loss and Adjusted EBITDA in the
fourth quarter of 2021 were a S$5 million depreciation and
amortization expense, a S$7 million share grant and option expense,
and S$7 million in business acquisition transaction and integration
costs. 4 The full year ended December 31, 2022 includes results of
the iProperty Malaysia and thinkofliving businesses which were
acquired on August 3, 2021. 5 Based on SimilarWeb data between July
2022 and December 2022. 6 Based on Google Analytics data between
July 2022 and December 2022. 7 Based on data between July 2022 and
December 2022. 8 Based on data between July 2022 and December
2022.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230301005560/en/
Media PropertyGuru
Group Sheena Chopra +65 9247 5651
sheena@propertyguru.com.sg
Investor PropertyGuru
Group Nat Otis (860) 906-7860 natotis@propertyguru.com
The Blueshirt Group Gary Dvorchak
pgru@blueshirtgroup.com
PropertyGuru (NYSE:PGRU)
Historical Stock Chart
From May 2024 to Jun 2024
PropertyGuru (NYSE:PGRU)
Historical Stock Chart
From Jun 2023 to Jun 2024