Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.
Mobavenue Ai Tech Ltd (BSE: 539682) Q4 2026 Earnings Call dated May. 18, 2026
Corporate Participants:
Misha Ishan Joshi — CEO and Managing Director
Tejas Athor — Chief Technology Officer
Vijay Basantani — Chief Financial Officer
Analysts:
Atul Daga — Analyst
Presentation:
Operator
Good afternoon everyone. Today we are here for the MOBA venue AI Tech’s Q4 and FY26 earnings conference call hosted by AD Factors PR. I would like to start the call with a small reminder. All participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing Star then zero on a Touchstone phone. Please note that this conference is being recorded.
This conference call may contain forward looking statements about the company which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements are not a guarantee of future performance and involve risk and uncertainties that are difficult to predict. I now hand the conference over to Mr. Ishang Joshi, CEO and Managing Director of Mobile Venue AI Tech Ltd. Thank you. And over to you sir.
Misha Ishan Joshi — CEO and Managing Director
Thank you and good afternoon everyone. I hope all of you are doing well today. On behalf of Mob Avenue AI Tech Ltd. I welcome you to our Q4 and full year FY 2026 investor interaction. This is an important milestone for us. It is our first full year earnings interaction as Mob Avenue AI Tech Limited New management team and it gives us an opportunity to speak not only about the quarter but also about the year in which several foundation pieces of the company came together. I am today also joined by my co founder Tejas Rathod who has formally transitioned into role of Chief Technology Officer and by Vijay Basantani who is our Chief Financial Officer.
I will begin with the business and strategic overview. A bit about industry context, you know some of the key operating markets for us in FY26. You know what is an impact of clients using our platform and our strategic priorities. As we enter FY27, Tejas will be take you through the technology and the platform roadmap in a much more greater detail. And Vijay will walk us through the financial performance. Let me start with saying that FY26 was a milestone year for Mob Avenue AI Tech Limited defined by disciplined execution, improving profitability, stronger enterprise relationships and meaningful progress in our AI led transformation.
For the full year, revenue from the operations stood at rupees 218.48 crore EBITDA stood at rupees 45.37 crore with an EBITDA margin of 20.8%. Profit after tax stood at rupees 29.35 crore translating into a PAT margin of 13.4%. Now more importantly, this growth was not driven by a single campaign or a single vertical. It was a broad based growth supported by direct advertisers, expanding agency partnership, reseller platform partnerships, our international operations and continued progress through our AI powered consumer growth platforms.
Now before I go deeper into the year, I want to spend a moment on what this performance represents in the broader industry context. As you are aware, when we spoke in the earlier quarters we said that the digital advertising and AI were moving through more than a cyclical growth phase and we are witnessing a structural transformation here. FY26 has strengthened our conviction in that view. Today the brands no longer want to spend on reach or impressions in the isolation. They want predictable growth, measurable business impact and technology that can connect media data, creative measurement and learning into one operating system.
The market is moving from media led models to technology and outcome led models and this shift plays directly to our DNA. Mob Avenue is not a traditional media intermediary. We are an AI, native ad tech and consumer growth platform company. Our platforms are designed to convert advertising spends across consumer life cycle into measurable outcomes across mobile, video, connected tv, web, oem, dodge and some of the emerging commerce led environments. Our belief and philosophy remains very simple.
We grow when our client grows. That alignment defines how we build our products, how we price our outcomes and how we use data and AI and how we scale globally. Now FY26 was the year in which several important structural pieces came together to Mob Avenue. First, the listed entity was renamed from Lucent Industry limited to Mob Avenue AI Tech Limited. This was not just a change of name, it was a clear signal that the next chapter of the company is about AI, native technology, platform led growth, global scale and long term value creation.
Second, we completed the 100% acquisition of Mob Avenue Media Private Limited consolidating our integrated AI powered advertising and consumer growth ecosystem under one listed entity. This has created a more unified operating structure and strengthened our ability to invest, integrate and scale. Third is what we have completed our preferential capital raise of rupees 49.99 crores. Now this gives us a greater balance sheet flexibility to invest in our technology, expand our global footprint, evaluate some of the selective inorganic technology operations and opportunities where they add capability, customer access or market debt.
The last one is we continue strengthening governance and organizational debt now during this year we introduced the ESOP 2025 scheme, approved the split of the equity shares and added senior leadership capabilities and continued to build a more future ready organization as we look forward towards our mission of 2030 on the business growth and the market side, our international expansion progressed meaningfully as we planned for FY26. Our UK operations went live during this year giving us a direct access to European Agency holding groups and enterprise conversations in Latin.
We are just setting up and expanding our high growth segments, the mobile first segments like the way we have done it in India today. I am glad to share that International revenue contribution stood at 11.5% for FY26 and this is a base we want to build on over coming years. Today Mob Avenue serves brands across 10 countries with a growing global footprint and a platform architecture that is asset light by design. We now work with more than 150 plus brands across sectors such as e commerce, commerce, BFSI, fintech, travel, OTT, entertainment, gaming, healthcare, Retail and some of the other emerging consumer categories.
Our client quality also improved throughout the year. The direct line contributed 73.9% in the FY26 revenue. This is important to us because direct relationships deepen our understanding of customer objectives, improve our retention, strengthen our pricing and create richer signals to our AI models. It also reduces excessive reliance on intermediaries like agencies and give us a stronger platform for compounding growth. FY26 also demonstrated the operating scale of our platform. Now during the year we delivered 42.72 million verified outcomes and expanded our platform reach to approximately 2.5 billion devices worldwide.
Our revenue per outcome, which is our core operating model, continued to improve throughout the year. It moved from 44.99 in Q1 to Rupees 48.44 in Q4FY26. Now this represents 7.7% improvement from Q1 to Q4 or approximately 767 basis points of improvement throughout the year. This progression reflects better monetization, improved conversion quality, stronger optimization and a favorable mix toward premium and high impact formats. We view this metric as important because it captures both the quality and the quantity of our platform growth.
Delivering more outcome is one part of the equation. Delivering higher value outcomes with better pricing efficiency and improved client impact is what makes business models stronger for us. While Tejas will cover more about technology architecture, our platform enhancements and some of the AI roadmap that we have taken for us in FY26 and we move forward in FY27 too, I want to highlight the business translation of those capabilities. Now during FY26 our platform helped clients solve growth problems across our core A3 framework, what we call it as awareness acquisition and activation platforms, we have shared some of the approved cases and case studies in our investor deck for the quarter.
For your reference I want to share a few of the highlights from those case studies like For a fast growing hyper local home services platform, our acquisition engine helps scale app installs by 5x. The campaign was optimized around downstream purchase signals rather than installs alone which is exactly how we define outcome net growth. For a leading travel ota, our platform supported qualified user acquisition at scale and delivered a 2x improvement in Qlik to install efficiency. Now this is an important example because travel is a high intent category where timing, audience quality, cost efficiency directly influence the business performance of our advertiser.
For a leading global consumer electronics and a gaming hardware brand, we supported a precision mobile programmatic awareness and a retail footfall strategy using our hyper local targeting around the stores, audience layering and real time bidding routing across the premium supply partners. This is how our platform can support online to offline conversions and growth as well for especially the retail category. For a global dermatologist recommended skin care and a personal care brand, we created a precision cohort based Targeting help deliver 1.27% click through rate resulting in a higher LTV customer sales.
Now this reflects the strength of contextual understanding and a cohort led targeting in categories where relevance and trust is very critical, especially in the healthcare category. Now these case studies are well approved by the brands and show mob avenue moving on campaign execution into measurable consumer growth. The objective is not only to deliver media. The objective is to engineer outcomes, learn from those outcomes and improve the next business decision for our customers. The demand environment during FY26 remains strong across structurally expanding sectors.
For us we saw meaningful traction across quick commerce, bfsi, fintech, retail, entertainment, travel and emerging consumer categories. We also continue to deepen conversations across fmcg, healthcare, pharma, real estate and enterprise LED verticals. Where digital growth is becoming more measurable and performance linked, our premium formats such as connected TV and video streaming also continue to gain momentum. These are important and not only as growth categories but also as a higher quality monetization streams.
As traditional TV budgets continue moving into digital and connected, our omni channel platform is well positioned to support brand outcomes, both awareness and performance objectives. Our operating framework continues to be anchored around our framework. We call it as A three which is awareness acquisition and activation platforms. This is how we map the consumer journey and how we organize our product. Stack awareness help brands reach the right consumers across high impact digital environments.
Acquisition platforms help convert high intent users into measurable actions and activation platforms help brands re engage, retain and grow consumer value over time as they acquire those users. As we look forward, our long term ambition is to capture internally under our mission 2030 we want to build a global AI native platform from India for the world while maintaining disciplined growth, profitability and operating leverage. Our long term operating philosophy continues to be anchored around what we call and we introduced in the last call a rule of 50 targeting a sustained annual revenue growth of over 30% along with EBITDA margin profile of 20% and above.
We do not view this as a one year target, however we view it as a shape of compounding business over a longer horizon. Now beyond businesses and platform progress, FY26 was also an important year for strengthening the organization behind Bomb Avenue AI Tech Ltd. We ended the year with more than 200 employees and continue to invest in high profile leadership, debt governance, employee ownership and responsible growth. During the year we introduced ESOP Scheme 2025 which is an important step in aligning long term employee contribution with long term shareholder value creation.
We also continued our HR technology transformation and focused on building high performance future ready organization. As we expand beyond India and across India, in UK Latam and other global markets, our culture remained a core operating priority. We strengthened workplace engagement through wellness programs, a sports day celebration, health checkup initiatives, cultural celebrations, organization wide team building activities for a platform company scaling globally. Talent, depth, execution, quality and the culture are as important as compared to technology too.
Our values continue to be anchored around dive. We call it as drive as values where determination, responsibility, integrity, vision and empathy is what we call them together as drive. Now these values are not only internal statements, they shape how we serve our clients, how we take accountability for outcomes, how we build trust with partners and how we lead the teams through the next phase of growth. Of course external recognition really we are always excited but during the year further reinforcement the work done by our teams.
Mob Avenue was recognized with Gold at AdTech Honors by AdTech India in Programmatic and Emerging Media and in AI and Creative Automation. The company and us also received recognition such as aerospike Champion Scale 2025 Best Demand Site Technology and Ad Tech Solution of the Year by various industry publications. We have also continued to build brand visibility through industry platforms, thought leadership and market engagement. During the year Mob AGME was featured across industry publications and participated in conversation across ctv, Cross screen consumer engagement.
AI led advertising retention and convergence of smart tech and ad tech on CSR and responsible growth. We advanced our ESG commitments through 15,000 tree plantation initiatives targeted to support meaningful carbon offset over the long term and supported community led healthcare initiatives including cervical cancer prevention programs and improved access to preventive medical care. Our view is that growth must be profitable, scalable and responsible too. Now as we enter FY27 our priorities are clear as for three strong levers which we call it as growth drivers which we have also stated in our presentation too.
The first priority is deepening enterprise and mid market penetration in India. We will continue to expand wallet share with large enterprises customers while building scalable mid market engine through vertical LED solutions, customer nurturing, cross sell opportunities and strategic agency partnerships. The second important priority is global scaling. We will deepen our presence in UK and Latin and evaluate additional emerging and developed markets through direct teams, agency and reseller partnership and also some selective M and A.
Our approach will remain asset light and outcome based. The third important priority is our AI and product innovation. We will continue investing in our AI center of Excellence which we refer as Mob Avenue AI Labs and we will scale purpose built platforms on our consumer growth engine across streaming TV, DoH, retail and rewarded media and creative optimization and some of the other structural AI advancements towards automation and agentic framework. Outlook for FY27 remains directional rather than formal guidance for us consistent with our earlier communication tool.
We expect a sequential momentum to be supported by the same drivers that defined FY26 for US global and domestic expansion, deeper AI led automation, reinforcement learning and growth across high impact formats such as ctv, video streaming and commerce media and continued evaluation of adjacent opportunities across supply side monetization and marketing technology. We are also mindful of global macro environment including geopolitical conflicts, oil price volatility, inflammatory pressures and have factored this into our risk modeling that we do across the year.
Even with this prudent approach, we believe that Mob Avenue enters FY27 with platform depth, client quality and operating discipline to keep compounding under the rule of 50 plus growth philosophy, balancing growth with sustainable profitability. We are entering FY27th with a stronger platform, a clear operating structure, a broader geographic footprint expansion, improving our client quality and a sharper AI driven roadmap. Our focus is to scale with discipline, deepen data led and AI led innovation and continue building Mob Avenue AI Tech as a global platform led company from India.
With that I would like to thank all the shareholders, investors, clients, partners, employees, well wishers for their continued trust and support. I will now Hand over to Tejas who will talk you through the technology and the plot platform progress in greater detail. Over to you Tejas.
Tejas Athor — Chief Technology Officer
Thank you Ishan and good afternoon everyone. This is my first turning call in the role of Chief Technology Officer and I’m glad to have this opportunity to walk you through the technology progress which we have made this year. We have built dedicated technology section into this call because our business is AI native and the core and the technology layer is what produces outcomes which then show up as a revenue. The more clearly you can see the engine the better you can model our business. Our platform infrastructure continues to remain central to advertiser outcomes optimization, quality and platform scalability.
I will start with our aiml infrastructure. During FY 2026 we completed transitioning our core decision engine to a proprietary neural network modeling framework. This is a meaningful evaluation from the rule based engine and the technology which was traditional machine learning architecture which we were running earlier. Our systems now deliver real inference at under 15 milliseconds, materially faster than traditional industry benchmarks which typically sit at around 50 millisecond and above every day.
Our platform processes more than 125 crore consented and privacy compliance, consumer and campaign signals across devices, audiences and digital touch points. Our deep neural network are now trained over 50 terabytes of large scale behavioral and conceptual data sets in roughly one hour. Compared to earlier that was 10 to 12 hours which was quite high. This is enabled by our central AI workbench which integrates statistical modeling, machine learning, neural network and artificial intelligence within single cloud, native infrastructure and architecture.
Before I take you through our proprietary stack itself, I want to introduce a framework which we use internally to describe how our AI platform creates value. We call it as a C3 framework. It sits alongside of our A3 framework which Ishant mentioned serving as a technology counterpart where A3 describes the consumer journey we engineer for our clients. E3 describes AI engine that makes the technology engineering possible. This framework is all about processing signals, predicting intent and producing outcomes.
I want to spend a moment on each of these because P3 is not marketing constructs. It is an honest description of three layers of our AI platform and each layer is structural competitive advantage that compounds over time. The first piece processing signals. This is a foundation layer of our platform. It is where the scale and engineering depth matters the most. Every day our platform processes more than 125 crore consented and privacy compliant consumer and campaign signals across devices, audiences, contacts, digital touch points.
A signal in our world, in any meaningful is any meaningful data event, it could be an impression opportunity, a click an install an app, open a contextual marker, a viewability event or a purchase confirmation. Each of these signals on its own is small. The real difference lies in our ability to convert complex, real, complex and real time data streams into actionable intelligence at scale through a unified and globally compliant AI infrastructure. Our central AI workbench is what allows us to do this at scale.
It also allows us to train our deep neural network models over 50 terabytes of behavioral and contextual data, roughly under one hour down from what used to be 10 to 12 hours without scale. At this layer, no amount of model sophistication downstream can produce meaningful outcomes. We have built it foundational at industrial scale. It compounds because every additional brand and every new geographical region adds signals that improves our entire system. The second piece, Predict Intent. This is the intelligence layer.
It is where our proprietary neural network modeling framework lives. During FY 2026 we completed transitioning from our core decision engine from rule based and traditional machine learning architecture to a fully neural network based system. Our models now deliver real time inference under 15 milliseconds, which is materially fast as per industry benchmark of 50 milliseconds. The prediction layer takes the process signals from layer one, converts them into a probabilistic understanding of consumer intent.
In simpler words, it tells us who is likely to act, what are they likely to do so when they are most receptive, on which device and through which creative. This is a cognitive layer of platform. It is built on deep neural networks, transformer models, attention mechanisms, predictive and statistical modeling and increasingly agentic AI components. Our closed loop AI architecture enables the platform to continuously learn from live data, allowing optimization, decision across targeting, bidding and inventory allocation to improve almost in real time.
This layer matters because intense prediction is what separates outcome led models, platforms like ours from impression, led agency and legacy ad techs. Predicting intent directly is the real difference between spending a rupee on someone who might convert and spending the same rupees on someone who will definitely not convert. That precision is the source of our improving revenue per outcome throughout the year. Last piece and last piece produce outcome. This is the execution and measurement layer.
It is where our intelligence translates into the metrics our clients pay us for. During FY26 the platform delivered 42.72 million verified outcomes and reached approximately 2.5 devices globally. An outcome for us is not an impression, not a click. It is measurable business events such as an install, first time purchase, a qualified lead, a RE engagement, a retail footfall or a high LTV consumer acquired the reason we describe ourselves as an outcome LED platform is because the third layer is where our commercial alignment with client actually lives.
We grow when our clients grow. The closed loop architecture means each outcome we produce becomes a new signal that flows back into layer one, sharpens the prediction at layer two and improves the next outcome in layer three. This is what creates compounding flywheel of the platform. It is also allowed our revenue per outcome to improve from 44.99 in Q1 to 48.44 rupee in Q4 of 2026. Most EdTech platform in market today do one or two of these three layers and license the rest from third parties. Some are stronger signal aggregation but use external decisioning.
Others have good models but limited signal access. Very few own all three layers on a hundred percent proprietary stack the way we do owning all three layers meaning every signal improves our prediction, every prediction improves our outcome. Every outcome improves our next signals. The flywheel is closed. That is what allows us to compound our intelligence advantage rather than leaking it to the third party vendors. It is technical foundation on which the entire economic model of company rests.
This is the framework that underpins everything. I will describe next about how our proprietary platform stack GMP 360 and how our individual product platforms including Prismex, SurgeX, Research X, DiscoverX and AmplifyX map to a 3 consumer journey that ishank had described earlier. Our platform stack which we call GMP360 is 100% proprietary. We do not rely on any third party technology revenue sharing agreements. Every engineering hour we invest accrues to a long term competitive advantage that compounds over time.
Mapping our platforms to a 3 framework on our next slide, Prism X is our omnichannel brand awareness and engagement platform designed for crossing reach optimization, CTV footfall measurement integration and AI driven brand safety scoring. During Q4 we further enhanced Prismex with new features that complete its integration as a full omnichannel Brand Awareness DSP on the acquisition side we have Surgex which is our mobile first user acquisition DSP complemented by our platforms such as DiscoverX, AmplifyX, AmplifyX for OEM app discovery, SDK partners, Reach and many more things with probabilistic and deterministic audience capabilities.
On activation side we have Research X, AI Power RE Engagement and Retention DSP designed for lifetime value maximization, dynamic creative optimization, behavioral retargeting. The third area I want to highlight is the closed loop nature of our optimization system. Our ML models now refresh towards nearly hourly near hourly cycles which means that every campaign signals we ingest feedback into improvement based targeting, creative selections and inventory choice. This happens in real time. This is what allows our revenue per outcome to keep improving as we scale it is fully aligned with applicable and global data protection standards.
As we mentioned, we deliver 42.72 million outcomes annually while reaching approximately 2.5 devices globally and revenue per outcome increased to 48.44 in Q4 2026. We also continued improving our monetization efficiency across the platform ecosystem during the year reflected in steady improvement in revenue per outcome as our optimization and audience intelligence capabilities scaled further. Alongside of this we rolled out numerous AI driven workflows during FY 2026. This includes AI powered campaign creation, planning, automated inventory and audience recommendation, conversational and LLM based reporting, unified single sign on across all our platform ecosystem.
The intent is to move our consumers and our internal teams progressively from manual decisioning to AI assisted decisioning and then AI driven autonomous decisioning. That is the journey from AI powered to AI driven which we are walking step by step. These investments are not abstract that they translate directly into client outcome and couple of examples which we have shared earlier as a home health platform scaled installs 5 times, first time purchase 10 times through precisioning and programmatic optimization on our platform Leading travel OTA brand which Ishan talked about increased and improved their click to install efficiency by twice and skincare brand delivered 1.27% click through rate at 110% of delivery.
These results are proof of that technology stack works at scale across very different industries. I would like to add a brief note on AI as center of excellence because it is central to how we think about long term technology. Compounding the AI CoE which we call as mobile AI labs is where we build experiment our next generational AI capabilities from proprietary models to intelligent agents advance and advanced machine learning systems over FY 2026 we meaningfully expanded this team as part of our long term AI strategy and on partnership side, our work with leading cloud, data and infrastructure partners continues to deepen the aerospike temperature of scale.
Award recognition reflects the scale at which we are now running our real time machinery. This partnership allows us to focus on our internal engineering hours, on the proprietary modeling and orchestration layers that differentiate us while leveraging best in class infrastructure underneath. Looking ahead, our technology roadmap has three priorities. First is transitioning AI powered to AI driven system with growing use of agentic AI workflows that can launch adapt optimized campaigns with very minimum human intervention.
The second is to build out of purpose built platforms on top of our core technologies particularly in streaming tv, digital, out of home, retail, rewarded media and creative optimization. And third is continued investment in our AI center of Excellence, our AI Labs which are the engine room for proprietary models, intelligent agents and applied research that differentiate us from generic attacks. With that I will hand over to Vijay who will walk you through the the Financial Review. Vijay, over to you.
Vijay Basantani — Chief Financial Officer
Thank you Tejas and good afternoon everyone. Hope all of you are doing well and having a good day. This is my first earnings call as a Chief Financial Officer of Mob Revenue AI Tech Ltd. We continued our growth momentum in Q4FY26 and I’m pleased to take you through an outstanding set of results for Q4FY26 and financial year ended 31 March 2026. Q4FY26 represented a strong finish to what has been a transformative year for the company. We concluded Q4FY26 at a consolidated revenue of INR 62.6 Cr, delivering year on year growth of 41.8% and a sequential growth of 13.6%.
For FY26 we recorded revenue of INR to an 8.5 Cr reflecting consistent performance across all four quarters. Supply and data costs moved broadly in line with revenue largely flat across the quarters and stood around 60% for the full year. Employee benefit expenses recorded a year on year increase of 20.1% from 7.2 cr to 8.6 cr and a sequential increase of 26.1% from INR 6.8 cr. In FY26 we reported INR 25.9 cr. Employee cost grew as we invested in technology and global teams but remained disciplined relative to the revenue.
Other expenses witnessed a year on year reduction of 8.9% from INR 4.7 Cr to INR 4.2 Cr and a sequential increase of 29.9% from INR 3.3 Cr. In FY26 we reported INR 15.6 Cr as other expenses operating expenses were controlled and largely aligned with the revenue trends. EBITDA delivered a year on year growth of 67.5% from 8cr to INR 13.3cr and a sequential growth of 8.9% from INR 12.3 cross. In FY26 full year we reported INR 45.4 cr. ETA margin of Q4.26 and FY26 stood at 21.3% and 20.8% respectively.
PAT delivered a year on year growth of 56.6% from INR 5.4 cr to INR 8.4 cr and a sequential growth of 10.9% from INR 7.6 cross in FY26. We reported INR 29.4 cr for the full year. PAT margin for Q4.26 and FY26stood at 13.5% and 13.4% respectively for the full year. The same pattern holds at a large scale. Importantly, revenue, EBITDA and PACT improved sequentially across every quarter of FY 2026. We also continued to convert profit into cash. The business generated healthy operating cash flow and a free cash flow during the year.
Working capital is in comfortable place and we will continue to focus it through FY 2027. As mentioned earlier by Ishan, the preferential capital raise completed during the year further strengthened our ability to invest selectively across our AI infrastructure and platform capabilities, global expansion and evaluate selective and organic technology opportunities. We continue to remain disciplined in our capital allocation approach. Overall, we believe the business remains well positioned to drive scalable growth alongside profitability, discipline and long term operating leverage.
With that, I’ll hand the call back to Ishan before we open the floor for questions. Over to you Ishan.
Misha Ishan Joshi — CEO and Managing Director
Thank you Vijay and Tejas for walking everyone with technology and platform and financial health of a company. I would first like to thank everyone who joined this call. I would like to briefly close by saying that you know FY26 has been an important year of progress for Mob Avenue AI Tech limited and we have strengthened the business across growth, profitability, platform capability, client depth and financial disciplines. Now from my perspective what is most important is the direction in which we are building the company and scaling the company a profitable asset light AI native consumer growth platform with ambition to scale globally from India.
We are also progressing from what Tejas mentioned and explained you about AI powered AI led to becoming increasingly as we move towards AI driven where intelligence not only assists execution but continuously improves decisioning, optimization and produce outcomes across the consumer growth life cycle for our brands and businesses. We remain focused on disciplined execution, sustainable profitability and long term value creation for our shareholders and our team. Our priority is to keep improving outcome quality, deepen customer relationships and expand operating leverage and continue compounding the business in line of rule of 50 plus growth philosophy out there now.
With that I would like to open a line of questions and we will be happy to take them. Thank you so much.
Questions and Answers:
Operator
Thank you very much. We will now begin with the question and answer session. Anyone who wishes to ask a question may press star then one on their touchstone telephone. If you wish to remove yourself from the question queue, you may press star and two Participants, you are requested to use hand tips while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue samples a reminder to all. You may press star and one to ask a question. We have the first question from the line of Smetsha from Nirmal Bank.
Please go ahead.
Vijay Basantani
Yeah, hello sir, can you hear me?
Misha Ishan Joshi
Yes.
Vijay Basantani
So my first question is are any acquisitions or strategic partnerships being evaluated?
Misha Ishan Joshi
Thanks for asking that question. You know, as stated by Vijay and me earlier in our conversation, you know we are very selective and prudent in you know, the MMA probability. We always look at for two factors. One, it can enhance our technology capability and the second is it can enhance our growth in certain markets that we are looking at and adding more customer base to us. So we are looking at, you know, those side of M and A playbook. But having said that, you know, our present growth, you know, what we are predicting for the next year is in line, you know, with that organic capability itself.
So we will be very prudent on the kind of technology or you know, the platform that we can, we need to add. And as we kind of progress the year, you know, we are evaluating it comes at a certain price. You know, we will, we will look forward towards it.
Vijay Basantani
Okay. Yeah. Sir, so my second. So how is the technology platform being strengthened further?
Misha Ishan Joshi
Tejas, you want to talk about it? I think we, we have in our, you know, in our con call we have shared this about how the technology platform has been strengthened. But Tejas, you can talk about it in a brief scenario.
Tejas Athor
Yeah, so hi, already we have explained that our platform process is more than 125 crore of consented and privacy compliant consumer and campaign signals. That was earlier only 100 crores. Secondly, we have now, we are able to now process roughly about 50 terabytes of behavioral and contextual signals in roughly one hour which we have, you know, gone down from 10 to 12 hours. Also multiple AI led initiatives which we discuss on the call which is helping us to evaluate our campaign planning better taking campaign lives and then optimization of campaigns on real time basis through AI.
These are some of the things which is now driven through AI already on our platform. And further it will strengthen even more. I hope that answers your question.
Vijay Basantani
Yes, definitely sir. Thank you for taking questions.
Tejas Athor
Yeah, thank you.
Vijay Basantani
Thank you,
Operator
Thank you. We will take the next question from the line of Atul Daga from Daga Securities. Please go ahead.
Atul Daga
Hi. Congratulations on your results. Just had two questions. So firstly, what has been the trend in customer retention and Repeat business during FY26 period?
Misha Ishan Joshi
So our customer retention, you know, once they become more active and we finish off our pilot with us and we are able to produce outcomes for them has been phenomenal in nature. So the one which we are sharing with you is 150 active customers today that we have on our platform. They continue to spend with us on a monthly basis and a quarterly basis. That’s how we treat that as an active part.
Atul Daga
Got it sir. And secondly sir, which all verticals or customer categories are we witnessing the strongest demand then? Currently
Misha Ishan Joshi
You know we’ve been seeing demand of course on the consumer side most of the categories however if we have to select the three topmost would be quick commerce, fintech and retail. I think these are the three areas where we are seeing the demand. Travel was in the first quarter and the second quarter quarter was great. Of course the last quarter for travel post the war has been slightly hampered but you know, but we are seeing the domestic travel continue to grow and that’s what we have actually presented one of the case studies of a leading OTA provider which is our client, you know for the reference.
So yeah these are, these are the categories we are looking forward to, you know, which continues to kind of show more growth.
Atul Daga
Got it. Got it sir. That’s all. Thank you so much.
Misha Ishan Joshi
Thank you.
Operator
Thank you. The next question is from the line of Chetan Mehta from Mehta family. Please go ahead.
Vijay Basantani
Yeah. Hi sir, good evening. Thank you for the opportunity. Just a couple of questions from my side. What are the company’s strategic priorities over the next 12 to 24 months?
Misha Ishan Joshi
Jeevan, thank you for asking that question and I think we would love to walk you through the parity then. We have also mentioned that in our deck this time which talks about three growth pillars and this is three growth etc levers that we have and that is what the strategic parity looks like for us. You know and I’ve mentioned that into you know our today call also you know one of the first parity is of course strengthening our relationship with our existing customers, enterprise customers and you know starting expanding to mid enterprise customers using our agency relationship, reseller and platform partnerships.
This is our first core growth lever and strategic pillar. The second is of course looking at global growth expansion both in the emerging and developed markets. So last year we have gone to UK which is a developed market and Latam which is the emerging markets and in next 12 to 18 months you will hear more about growing us in those markets but also expanding in some of the other markets such as Asia and you know, other developed markets as we move forward. And the third important pillar which you know, I think Tejas also mentioned about and I, I don’t know whether I’m audible to you or not.
Am I audible? Yes,
Vijay Basantani
I can hear it. Thank you. Yeah.
Misha Ishan Joshi
Okay. Okay. And, and, and the third important pillar is strengthening our product and IP innovation. We feel that that is a very important part of us as a technology platform and we are seeing a tailwind for us in the segment because we started adopting to a powered approach three years back and over time we are able to see the results now coming in and we will continue to invest, you know, into, into our Mob Avenue AI labs for which, you know, Tejas have explained it and we have also mentioned into in our IR tech.
Vijay Basantani
Okay. So thank you very much for that. And so as investors, are there any operational issues that we should look out for or monitor any execution risks that we may have in future?
Misha Ishan Joshi
What we have done is of course in our risk modeling capabilities today when we plan our annual business cycle and future business cycle, all the macro environments, the oil price fluctuation, the volatility, the cross border side. So we have done those risks, adjustments into our growth and we are also looking prudently in those segments. But having said that, you know, we are looking forward to grow with our rule of 50 strategy which we have defined which is compounding for 30% growth and a 20% EBITDA or above.
So that’s our more or less framework that we have defined wherein we can do in a more better manner with disciplined approach and, and with the profitability that we are looking at. So, so far, you know. Yeah, that’s, that’s, that’s where we look at.
Vijay Basantani
Okay. So thank you very much for your responses and best wishes.
Misha Ishan Joshi
Yeah, thank you.
Operator
Thank you. We will take the next question from the line of Chiragacharya from Motila Liswal Financial Services. Please go ahead.
Vijay Basantani
Hello, can you hear me?
Misha Ishan Joshi
Yeah, Chirag, we can hear you.
Operator
Sorry to hear. If you can just be louder. Yeah,
Misha Ishan Joshi
Just be louder a bit.
Operator
Chirag, I would request you to please use your handset mode and speak.
Vijay Basantani
Just a couple of questions. Sorry
Operator
To interrupt. In between. Shira, your voice is not audible. Please use your handset mode and speak.
Vijay Basantani
Hello.
Operator
Yes, please proceed.
Vijay Basantani
Yes, so a couple of questions. So can you tell like what is the repeat business as a percentage of revenue in comparison to last year and second, how renewals and driving bills Clause work in our business model and third in our business.
Misha Ishan Joshi
Sorry, can you just repeat because there is an echo that I can hear in your voice. So I don’t know whether Vijay can also hear it or Tejas can hear it. But if you can just repeat one by one that will be really helpful for us slightly.
Tejas Athor
If you can louder that would be helpful.
Vijay Basantani
Hello. So I was asking what is what was a repeat business in our current year’s performance in comparison to previous years? I mean let’s say be it renewal or you know the same kind has given more volume of work and that is second how price increase flows works in our business. And third was what risk from client concentration point of view at the moment is there. I mean any top client which is contributing more than 5 or 10% of the overall top line is probably 3%.
Misha Ishan Joshi
Got it, got it. So I, I’ll take up maybe 1 and 2 and then, then Vijay can take up the third one. You know from your first question you. I think the client retention for us is higher. You know generally 80% of our revenue comes from our retained customers. And how we treat retained customers are the ones who are spending with us on quarterly and annually basis. So if they are spending with us on the next year also we will train them as a retained customer. So 80% of revenue today comes from our retail customers.
And that we have seen typically over years. That has been our trend line out there. We focus on doing more cross selling opportunities to our retained customers. They can start with any of our platform, be it awareness, be it acquisition, be it activation and then we try to cross sell and upsell, you know our other platforms or our unified GMP 360 platform as they progressively move forward and you know they are more sticky to our platform. So today we are well diversified to around 150 plus active customers.
You know there is a broader category shift that we look at, you know, BFSI, FinTech, Commerce, E commerce, retail, travel, entertainment. You know there is well diversification in the kind of categories that we are looking forward. So this is how you know overall. Our overall diversification was for. In terms of. Your second question regarding this was regarding the risk. This is regarding the price, right? How can, how we will able to value more price. So you know we look India as a market where there is a value but there is a volume.
Right. And we have, you know, if you see it from our last four quarters, you know repeatedly I think we have kind of improved our revenue per outcome which stands today, which started maybe in the Q1 44 rupees something and now it at 48 rupees, that’s almost 730 basis point improvement. And fairly this has been done because of the one is because of the effort that we have done on our technology side. The second is, you know, our aim is to bring high intent, valuable customers. So you know what Tejas kind of explained earlier that as we produce more signals, we process more intent, we predict more and produce more outcomes.
You know, all of this framework really helps us to continuously train our models so that we will spend less on finding the consumer for the end brand and typically increase the revenue per outcome for us as a platform. Right. So does that answer your question?
Vijay Basantani
Yeah.
Misha Ishan Joshi
Yeah. So Vijay, would you like to take this one on the client concentration level?
Operator
Sorry to interrupt. In between your voice is not audible.
Vijay Basantani
Can you hear me now?
Operator
Yes, sir.
Vijay Basantani
Yes. So what I was saying is the revenue growth that is coming from various verticals and clients basically where the concentration is like big commerce, bfsi, fintech, retail.
Operator
Sorry to interrupt, your voice is breaking in between. I would request you to please repeat the answer. Again, the voice is taken.
Misha Ishan Joshi
Yeah, let me, let me take it up. I think in our client concentration side, obviously the three categories that we look at, like we look at top 10, top 20, top 30, top 40 of our customers. So top 10 would be somewhere around 25% of our revenue. And as we kind of progressively go upward the cycle top 50 customers would today contribute around 60, 65% of our revenue out there. So it is well diversified playbook for us. Obviously we always look at caution that any one client should not kind of increase beyond 6 to 7%.
You know, from the overall base perspective. But having said that, because there are certain categories such as commerce and fintech which is growing faster than some of the other categories and quick commerce specifically in India. So those are some customers which maybe have a higher concentration with us. But we continue to work forward in terms of adding more of our platforms into those advertisers so that the risk is mitigated and our technology is more sticky across their consumer growth life cycle.
So be it awareness, be it acquisition, be it activation, we are across their growth life cycle of a customer journey. Does that answer your question?
Vijay Basantani
Yes, it’s a first follow up on the same. Are we exclusive vendor for them for our services or we compete with others as well?
Misha Ishan Joshi
Great question. I mean first of all, I think the brand and the businesses do not give exclusivity to, you know, one of the platform. And my reason I’m saying this is we do not act like an agency. Agency can have an exclusive partnership with any of a brand and hence their operating leverage and margins are also very thinner. Whereas we provide platform and we provide our model as outcome, as model, as service. Right. So we do compete with some of the other platforms in the programmatic playbook.
But having said that, we always look at what is our wallet share in those customers that we are engaging and those who are actively retained with us over years. Is our wallet share increasing? Are they spending more with us? Are we able to produce more better outcomes for them? Are we able to do more cross sell to them? So these are some of the parameters, you know, which we always keep looking at, you know, as we kind of expand our horizon. So does that answer your question?
Vijay Basantani
Yes. Thank you.
Misha Ishan Joshi
Okay, thank you.
Operator
Thank you very much ladies and gentlemen. We will take that as the last question. And that concludes the question and answer session. I now hand the conference over to Mr. Ishan Joshi, CEO and Managing Director for the closing comments.
Misha Ishan Joshi
Thank you so much. I hope we have made this presentation, you know, more, we can share more insights with you and you know you’re always free to write to us and we would love to answer more questions. But having said that, you know, FY26 has been an important progress for Mob Avenue AI Tech Limited and we have demonstrated that our model is scalable, profitable and AI native. And we are built on platform led and outcome led and technology led foundation. Today the momentum across revenue EBITDA pat margin expansion reflects disciplined execution, not a single quarter outcome.
As I said earlier, our focus on the rule of 50 framework, revenue diversification, direct client relationships, balance sheet strengthening and reduced level position to create long term shareholder value. Now today Mob Avenue operates as an AI led platform business and our ambition is to evolve into increasingly AI driven ecosystem where intelligence continuously optimize, adapts, improves outcomes across the consumer growth lifecycle. We have made ourselves that the foundation for our mission 2030 is firmly in place.
Our proprietary platform stack across a three framework, real time AI capabilities, operations across 10 countries, serving brands across 10 countries. 150 plus brands had a leadership culture shaped by discipline, innovation and sustainable profitability. Now FY26 reflects progress but more importantly it reflects direction for us. And we are moving from assisted optimization to autonomous growth. We remain focused on disciplined execution, sustainable profitability and long term compounding value creation for our shareholders.
And I thank you so much for being part of our Q4 analyst call and an annual analyst call. We look forward to engage with you in the next quarter. Call and if you have any questions, you are always free to write to us. Thank you so much.
Operator
Thank you. Members of the management, on behalf of Mob Avenue AI Tech, we conclude this conference. Thank you all for joining with us today. And you may now disconnect your lights.