{"id":183497,"date":"2026-05-19T07:36:48","date_gmt":"2026-05-19T11:36:48","guid":{"rendered":"https:\/\/alphastreet.com\/india\/onmobile-global-ltd-onmobile-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-19T07:39:24","modified_gmt":"2026-05-19T11:39:24","slug":"onmobile-global-ltd-onmobile-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/onmobile-global-ltd-onmobile-q4-2026-earnings-call-transcript\/","title":{"rendered":"Onmobile Global Ltd (ONMOBILE) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

Onmobile Global Ltd (NSE: ONMOBILE) Q4 2026 Earnings Call dated May. 19, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Francois-Charles Sirois<\/strong> \u2014 Executive Chairman of the Board<\/em><\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Bikram Sherawat<\/strong> \u2014 President and Chief Operating Officer<\/em><\/p>\n

Radhika Venugopal<\/strong> \u2014 Global Chief Financial Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Unidentified Participant<\/strong><\/p>\n

Presentation:<\/h2>\n

Francois-Charles Sirois<\/strong> \u2014 Executive Chairman of the Board<\/em><\/p>\n

This meeting is being recorded.<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Thank you, Pratik. Thank you all for joining this Q4 2026 meeting. Interesting finish of year. We have very good EBITDA growth as you can see. 110% EBITDA growth for the year. Mostly the growth was because we reduced a lot of costs on all fronts, right? So you can see the HR costs, OPEX cost, marketing costs were optimized. And you know, most importantly also all the gaming, subscription gaming was EBITDA positive as of Q3. So that’s, that’s, that’s what made the EBITDA growing. And we see as. As we mentioned in the past quarters, we see this EBITDA growing year over year from the, from this point.<\/p>\n

Second thing also that we see is the subscription gaining a lot of, of growth, right? 32% on the subscription gaming year over year. 14.3 million subs. So subscriber base grew quarter on quarter by 600,000 subs. As you can see, the revenue had a reduction of 15% last quarter we had three 30% growth. This quarter we have a reduction of 15. The main issue that we had is that we had top five customers that we had to stop campaigns for multiple reasons. Campaigns have been restarted as of now. So the marketing budget was optimized and we grew into new accounts.<\/p>\n

The problem with new accounts is that since they’re starting, the ARPU is lower and the conversion transaction conversion is lower also. So we end up in this situation where the revenues went down although the subscribers went up. So the business grew but the actual revenue degrew over time. We will see this will correct. We don’t change our targets. We still see this business growing a lot in the next 18 months as we plan. It’s just a small hiccup in this quarter. And the third element I wanted to share with you is really the launch with Flipkart.<\/p>\n

We’ve as you know, right. I’ve shared this last quarter also. We spent so much effort to be able to, to do this launch. Everything is ready right Right now. You know, as you can see in the deck, we’ve decided to, to launch in the next two weeks. Why did it take a bit longer than planned? And just, just to be clear, right. I mean Flipkart is a big players. You have to line up with with them the way they see the business. We, you know, contrary to the rest of the business that we have, the virtual console needs a lot of components which is different than mobile gaming, right.<\/p>\n

We needed a special type of server to be configured. Everything’s Been done with volume, right. Because we need a lot of servers. So everything is installed across India right now. So that that’s done. We needed to have our own controller built. We’ve been working on the controller for now, many, many, many. The production and the factory gave us multiple samples that initially had to be tuned up. This controller is special because it syncs on any device which is not common to any other controllers.<\/p>\n

So when you get this controller, you can sync it onto your laptop, your mobile phone, your iPad, tablet, smart TV and it stays connected, whatever the device, you can just switch over. You don’t need to remove your device re login. It’s very, very simple to be connected on multiple devices and it switch over. So that’s a big gain that we have on this product. So now everything in a box. And I think it’s very important also for the users, right. We talk a lot about cloud gaming, talk a lot about mobile services.<\/p>\n

When we get into the console gaming, which is really a part of the industry, which has not been touched by, you know, other than the key players, key console providers and the PC gaming, we end up having basically in a box a smart console, as we call it, that, you know, all you need is a few minutes, you sync it on your device and you can start playing. And the team has managed to get a very good catalog of both, you know, games for kids and hardcore gamers. And also the bring your own game so that we can have AAA titles that you can play.<\/p>\n

So I really look forward for this launch that is planned within the next two weeks. I hope that you will go and buy, you know, from the Flipkart link your console so that you can test by yourself the service. And honestly I really believe we have a good offer. We managed to do this at an extremely low cost. We’re talking about less than 5000 rupees will come with 3 month subscription. 3 months, 6 months or 12 months depending on the price. But at the price tag below 5,000, it will be three month subscription.<\/p>\n

You know, when you compare this just to the price of an Xbox or a PlayStation controller, it is more expensive, the controller than the whole smart console that we have with the subscription. And we managed to do it at very, very high quality. The actual video can be up to 4K 60 frames per second. It’s really a, you know, and the feedback is not myself just saying this, right? We had some top gamers testing the platform and they highly rated the service. So all this to say that now we’re in the final preparation to be able to launch.<\/p>\n

We have the inventory of controllers, the first batch inventory of controllers shipped here in India. Servers are installed. We’re doing the final preparation, working on the marketing plan to do it and launching. And the last thing I want to add before we go to bigtram and Redika is that this triggered a lot of new channels. If you can look in the deck that we shared with you, the investor deck, you see that E commerce is one new element, right? We never deal normally with E commerce providers.<\/p>\n

Now Flipkart is our first one, but many others are to follow today. The discussions that this triggered is that we’re talking to ISPs, we’re talking to TV providers and we’re talking to retail chains who actually want the boxes and sell in retail. And obviously we’re talking to mobile operators. But you know, in 25 years history the only discussion we had was mobile operators, you know, or mobile phone, you know, what we used to do. Now we never had all these other channels of distribution. So this is really enabling us, you know, to be able to talk to multiple other providers and it’s a different go to market strategy than what we’ve been doing in the past.<\/p>\n

So it’s really interesting times, lots of discussions going on and really look forward to our launch in the coming weeks. And again hopefully you will go and buy your own console. To this I’m going to talk to Bikram about operation and then Radicon Finance.<\/p>\n

Bikram Sherawat<\/strong> \u2014 President and Chief Operating Officer<\/em><\/p>\n

Thank you fc. Welcome everybody. FC has spoken at length about the virtual console. I will talk about few other elements around our business operations which have worked for us not just in the last quarter but throughout the years and as we move ahead a little bit about what we see with regards to our all our lines of business. So throughout the whole of Last year in FY26 we have already spoken about the results, say that we’ve had significant margin improvement. We were very conscious throughout the year to focus on efficiency and cost controls and that is showing up in the numbers as well.<\/p>\n

There were a few new lines of business which started generating revenues. We’ve been very choosy and picky with the kind of deals and new business we want to venture into. So two of our products which is basmo and gaming platform we have been able to launch with key marquee customers and be able to generate revenue. One of them is already live, the other one is going to go live in the next month as well. So that’s something which we see and it’s going to contribute to our growth as well in the new financial year which is FY27 something about the mobile entertainment business, we renewed our videos and editorial contract with one of our large, not one the largest customer six months in advance.<\/p>\n

So that also we did throughout the year. So that secures a key part of our business. It is one of our oldest long term relationship which we are continuing. Tones is our oldest customer works well across 29 telcos. We are planning to go live with one more additional telco as we speak from in quarter one of this financial year. This is. We have also taken up a very ambitious task internally that we want to move this whole legacy stack to a very new cutting edge cloud native platform. Now the spread of our Tones business is such that this is live across four continents and all our deployments are within the operator network we want to do that.<\/p>\n

So this will be done in in phases operator by operator. We are taking next eight to ten quarters for us to be able to do that at a at a level how what will be the impact for us? It will help us significantly in efficiently maintaining all these customers and we reduce a lot of bad code debt which we are carrying. So that’s something which we will do in subscription gaming business We’ve been growing throughout over the last three years. There were few issues for us in quarter four. I will touch upon that.<\/p>\n

So we have over a period of last three years we have been able to now reach a stage that we’ve been able to optimize our marketing flows very well. We are very proud to state that our marketing engine runs very smooth and we are able to understand how Google works, how do we market there, what is the affiliate network we have to go on to. In the coming year we will also be diversifying and trying new marketing channels which is basically meta with Instagram, Facebook, TikTok. TikTok is banned in India but beyond India where we work a lot of subscribers consume TikTok so we don’t do that and a lot of new DSP platforms which we will partner with.<\/p>\n

We are also innovating with cutting edge technologies like artificial intelligence to be able to render ads on the fly based on consumer profile, language, demographics etc little bit about sales in FY26 few key very significant large deals which on mobile has been able to close. It’s one of the healthier years in terms of sales closures for us over the last year. Many years few of them are revenue live, few are going to go revenue live in this year as we have entered the new financial year in FY27.<\/p>\n

I am very excited about the prospects with the new Virtual Console and the other platforms like buzzmo and Gaming platform. The kind of engagements we have been able to have with our potential customers. So we are looking forward to an exciting year. Lastly, since we had a dip in gaming subscription, our momentum is back. We are growing and we will be able to grow from here. Our mobile entertainment continues to deliver stable revenue and healthy margins. And we look forward to the launch of Virtual Console with Flipkart as an anchor customer.<\/p>\n

And I’ll hand over to Radhika who will take up and tell us about the financials.<\/p>\n

Radhika Venugopal<\/strong> \u2014 Global Chief Financial Officer<\/em><\/p>\n

Hi everyone. I’ll now take you through the FY26 financial performance. The highlight of the year is that quarter. The year yearly EBITDA grew by 110.6% clocking at 29.7 crore. 7 crore. This is an EBITDA margin of 5.7%. This is despite a revenue degrowth of 10% on a yearly basis. Reported profit after tax was 11 crores negative. Excluding impairment provisions which were provided for as per our internal policy, the path stood at 35.3 crores. Gaming continues to be a main focus and mobile Gaming was at 154 crores down 25.4%.<\/p>\n

YOY in mobile entertainment segment revenue stood at 370 crores reflecting a marginal decline of 1.6%. On cash position, we closed the year and the quarter with a gross cash of 142crores. On all KPIs of costs we were down due to cost efficiencies built in people cost was 110.7 crore which is down 6.5%. YOY marketing spend was 92.8 crores down 2.2%. YOY and all other operating expenses were down 43 crores which was down 4.4%. YOY. Our DSO stood at 131 days. Thank you.<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Radhika Vikram and FC participants. Those who have any questions, they can raise their hands and then ask the questions. We’ll wait for some time. So we have one question in chat box. So Aromal Krishnan, he is asking do you have any plans to bundle sale plans for our console with any new mobile device launches. We have plan to launch bundles for sure, right? The big question is mobile operators, the speed they move is very slow compared to other retailers or e commerce provider like Flipkart for example and others.<\/p>\n

So right now that’s why we’re saying we have many types of discussions, right? On many fronts. Obviously the operator is still There. But what we see is that we can move way faster with other distributors. So the bundle is a bit different. Right. Obviously when you sell through Flipkart, you don’t have a bundle. But they can do upsells. Right? If you buy a smart tv, they can upsell you a smart console. If you buy a laptop, they can upsell. So there’s a lot of upsells being done. But yes, all types of discussions right now are on the table.<\/p>\n

Okay. Participants, those who have any questions, they can raise their hand and then ask the question. So we have a first question from Josh. Just you can go ahead and ask your question.<\/p>\n

Questions and Answers:<\/h2>\n

Francois-Charles Sirois<\/strong><\/p>\n

Can you hear me?<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Yes.<\/p>\n

Francois-Charles Sirois<\/strong><\/p>\n

Thank you so much for taking my question. I just wanted to understand on the impairment part, why did we wait till 40 crores for taking it as a going concern?<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

We didn’t wait. Just so you know, this dates back, you know, when we had issues with the spheres. Right. We, we stopped the, the, the, the, the accounting. The, this is a provision. It’s not a. So we’re still in negotiation. All options are on the table right now. So this, you know, as we settle with them, it’s going to come back as a, as a positive. But right now we have to take the provision because it’s over 365 days.<\/p>\n

Francois-Charles Sirois<\/strong><\/p>\n

Understood. And this, this exactly is just the Diosphere deal that has<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Only. This is only one dealosphere.<\/p>\n

Francois-Charles Sirois<\/strong><\/p>\n

Got it, got it. And regarding the, the new console that we have launched or are we launching, what are the internal thresholds we have in terms of the working capital?<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

You know, one thing that we managed to do quite good is that we have finance companies, leasing companies, you know, for leasing servers, leasing the controllers. So right now it has an impact, you know, because we have to, you know, for pay for content, for example. And obviously we have the whole team working to launch this and there’s other costs to be covered, but you know, most, I’d say the majority of the, of the working capital required is leased.<\/p>\n

Francois-Charles Sirois<\/strong><\/p>\n

That’s right. And this, this financial year for 26, we had another income of about roughly 50 crores. 45 crores. What would. And this has never been a patent before. What is the reason behind this?<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Radhika, you want to take this one?<\/p>\n

Radhika Venugopal<\/strong><\/p>\n

The other income, what you’re seeing as 44 crores is a combination of exchange gain and income tax interest on income tax refund. The income tax refund was much higher. Only the interest portion is considered here.<\/p>\n

Francois-Charles Sirois<\/strong><\/p>\n

Okay. Correct. Okay. And one Last question please. FC, you mentioned about few quarters back about a 300 million guidance in the next five years and we are currently at roughly $50 million. What is the growth plan behind that strategy, behind that target? Can we somehow touch at least $150 million? How do you foresee the deals coming in the future?<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Well, honestly, two things, right? And I didn’t give a guidance. I expressed my dream, right? And again, my dream versus reality. That’s what we have to match, right? But the whole point here is when we enter the console market, right, you can see it today with the box, right? PlayStation, Xbox and all the console together, they sell 150,000 boxes in India, right? But that’s, that’s a price tag of US$500 and more. When we enter the market with a price tag of basically $50, right. Ten times less, the potential to sell is way more, right.<\/p>\n

The curve goes higher. And now we talk about India, but we talk about Asia, Africa. You know, it goes beyond everything, right? When we talk about big partners that we’re talking to not just mobile operators, but we talk about E commerce partners, retailers, ISPs, TV, you know, a lot. You know, just, just when you buy a smart TV or when you’re a cable TV operator, to bundle the console with it and have a controller sent to every household makes a lot of sense. Now the big case and the big business case for console, you know, if you look at, you know, the big console providers, they don’t make money on the console, they make money on selling games, right?<\/p>\n

Now, you know, what we have is all bundled together, but you know, the big money, you know, as, you know, buying a key AAA title is actually $50. The price of the whole console is one title. So the, the key in this whole scenario is to start selling games, right? So first of all, we have to get traction on the console with partners. And second, once you get traction on the console, then you start selling games, right? And, and when we look at the console industry today, right, the number of games bought by a player in the engagement is extremely high compared to mobile gaming.<\/p>\n

So yeah, if we play it right, like I think we can if the, if the market is there and the market is there. So if we can capture the market correctly. Yeah, I think, you know, I actually believe that’s the kind of numbers we can attain. The numbers that we show here is only mobile gaming here on this slide, right? That was the mobile gaming track where we’re, you know, with the subscription gaming, which this track is different than the console, right? But yeah, I mean, the big question, yeah, and that’s why it’s so important to do the, the, the, the launch with Flipkart.<\/p>\n

Well, right. How many boxes are we going to sell this year? Right. So, so it goes, it’s the, the range is very, very wide. So the more success we have with our first E Commerce partner, the more success we’re going to get with others. And, and this goes into a, a big effect here. So to be honest, I don’t want to sell again, you know, another number and all this. I, I just want us to deliver on what the market could take. But yeah, the numbers could be big.<\/p>\n

Francois-Charles Sirois<\/strong><\/p>\n

Thank you so much.<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

And<\/p>\n

Francois-Charles Sirois<\/strong><\/p>\n

On the, on the impairment part, I have one more question. Is this anyhow related to the Serval arrangement that we had? The commission arrangement we had?<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

No, no, no. Like in terms of<\/p>\n

Francois-Charles Sirois<\/strong><\/p>\n

Would, would Serval be benefiting from that contract in due or no<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Zero by the way. I mean Serva was to be able to get higher sales has nothing to do, no cost, no money paid. So there’s no impact.<\/p>\n

Francois-Charles Sirois<\/strong><\/p>\n

Okay, that’s good to you. Thank you so much for your time. All the best. Thank<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

You. Thank you. Jesh. So we have a question in the chat box from Prakash Rama session. So he’s trying to understand when we will get to the level of steadiness in sales and profitability. We keep getting to stability and slip up equity markets, stay uncomfortable with the QQ volatility. Yeah. Let me just address first thing, profitability. Right. And again for me it’s very important to be transparent. And you’re right. Right. It’s been a journey that’s been difficult. But I want to remember, I want us to remember the investment, the level investment we’ve did in the last, you know, we start investing in gaming in 2020.<\/p>\n

Right. So it’s been six years now. It’s going to be, it’s our sixth year. But you know, today, if you look at our complete service set that we have today in gaming, honestly there’s I don’t know that many company that has what we have outside the big groups. Right. Obviously. And putting aside all the big console companies here, I’m just talking about the actual platform, right. What we have. And if you look in the years be before, right. We were always putting capex and a lot of capitalization so you would see the ebitda but the real cash generated in the business wasn’t there because we put so much money in gaming right now, you know, we capitalize pretty much nothing rad.<\/p>\n

How much capitalization did we put in this FY26<\/p>\n

Radhika Venugopal<\/strong><\/p>\n

Here was around 3.5 crores. See that was during the beginning of the year. After that, 35<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Million rupees. That’s all we have in capex this year for all the gaming compared to, you know, 10 times that the years before. Just to be clear. And in 2027 we’re not doing any capitalization whatsoever. So all the operations and all the costs of operating gaming, I was saying, you know what, the, the subscription gaming is positive since Q3. The console gaming is obviously not positive because we’re launching. But the key is to, you know, to have this in our operation. So there will not be any CapEx capitalization this year.<\/p>\n

So if you look at our EBITDA, it’s a, it’s a real EBITDA. There’s no like, you know, this hits the cash below. So now we really are in a cash positive situation. And although obviously we need cash flow to grow the, the virtual console business, as we said, most of it is, is truly with contracts and distribution partners that we have. So we’re in a very, very different situation that we were a couple years back, to be honest with you. And I, I agree with you. You know, we have a bit of a cup. I would have loved to see the subscription business grow again by a good 10 15.<\/p>\n

Like we said last quarter grew by 30, this quarter down by 15. But the subscribers grew, right? It’s just the mix. It happens. We had issues with the top five, you know, accounts that we had to stop for multiple reasons that are now all restarted. But you know, again, even on mobile gaming, right, we’ve been using only one thing which is carrier billing, right? We do promotions through Google, most of it and carrier billing right now there’s a lot of opportunities for us to use, as Bikram was saying, other means in Google for advertising like TikTok, Instagram, but also being in the Google App Store, right?<\/p>\n

The Unmo plus virtual console will be in the App Store for both mobile and tv. And now we’re going to do the ANMO app that’s actually been always a web app, never been on the App Store will be on the Google App Store by, during the year also. So other means of being able to monetize what we have as assets, but we truly have key assets in gaming. And right now the time is the time of negotiation. That’s why I was saying we have a lot like 1020 discussions right now just on the virtual console going on in business development.<\/p>\n

So lots of interest on pushing these sales, right? And again all These will hit the bottom line pretty fast. So I hope that answered your question. So we have the next question in chat box from Bhavesh Patel. So he’s saying with the appointment of Leo Matthew as an independent director bringing significant experience from major gaming entities like Xbox and Meta, how exactly will his expertise influence the product roadmap for onmo and challenges arena going forward? Well, actually, I’ll just be very clear, guys.<\/p>\n

You know, Leo. And I’m really happy that Leo decided to join, you know, our board in and brings expertise, direct expertise in gaming. But truly for the virtual console is going to be very helpful, right? I mean, he understands and he’s dealt with all the key AAA game developers, right? He’s based out of California. So we really in a situation right now where, you know, even him that was actually at Microsoft also, right? You know, managing Game Pass, looked at what we have and thinks it’s fantastic, right.<\/p>\n

You know, and nobody, when I say nobody has this in the world, it’s not just like, again, I know, I know I like to dream. But you know, this, this was. And again, this, this initial dream was not my dream. That was Google stadia, right? And actually, you know, when I was discussing with Leo, he told me that he joined Google, right, managing the Google games and an app store the. The week basically, or the month that they decide to stop stadia, right? After 5 billion, $5 billion invested, right? And basically what we have today is exactly the Google stage, a dream, but we made it happen, right?<\/p>\n

And we’re going full retail, which stadia never went full retail. So again, you know, when Google did their analysis and look at the market, they thought the market was big enough to spend $5 billion. Now, as we all know, we did not spend $5 billion. But I can tell you something, the quality that we have today, and I really recommend that you go and buy the console when it comes out in two weeks and you test it out and you look and you compare it to a PlayStation and you tell me if you see the difference.<\/p>\n

And to be honest with you, sometimes I think it’s better than a PlayStation because you can switch screens very fast from any screen, which you cannot do on the PlayStation, right? I cannot connect my PlayStation to my phone. I cannot, you know, switch it from the phone to the big screen and come back on the laptop or a tablet, which is exactly what we can do now, right? So I’m really happy Leo is joining. He’s going to be very helpful in these relationships because the next step, as I was saying, Right.<\/p>\n

Distribution is the first step. Second step, once we have the users, is to be able to get deals with key game developers. And you will be very helpful on that front.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you fc.<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Thank you. And the next question from Bhavish. Bhavish, you want to go ahead and ask or should I just. Sure,<\/p>\n

Unidentified Participant<\/strong><\/p>\n

I’ll do that. Thank you. So fc, the next question is we spoke about impairment charges and I. And, and assuming that that’s a one time and we won’t have such a thing repeating, are we still on track for cash flow positive operations and what’s the cash on hand? Maybe Radhika can help with this at the end of FY26.<\/p>\n

Radhika Venugopal<\/strong><\/p>\n

So impairment is a non cash item. It is not impacting our cash flow, but our cash is positive irrespective of this impairment because it’s a non cash item. And our gross cash balance is 142 crores at the end of 31st March 2026.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, thank you Radhik, I appreciate that. And the last one, I’m going back because we did speak about fundraising and we had those plans and haven’t heard anything in the last three four quarters. You did mention about no major CapEx for at least six to eight quarters. Any, any strategic roadmap that you, you want to share with on that fc? Because I think the gaming console again might need working capital, but not necessarily CapEx. So your, your inputs on that please.<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Yeah, to be honest with you, you know, again I, you know, when we raised the money, we needed it because we wanted fast deployment. We took a bit more time, as I told you, right. We managed to get leasing companies to finance the servers and the controllers because initially it was a bit tricky, right. We needed to buy the inventory and finance the controllers and, and by the time that for example, Flipkart pays us, you know, it made a big gap. So I’m quite happy that you know, the team managed to get leasing companies to lease all this.<\/p>\n

So that makes, you know, obviously less demands on cash required. You know, again, you know, from my dream scenario, right, would be to approach, you know, a real partner that joins on board with us that understands the gaming industry and wants to be part of on mobile. I would prefer this than, you know, going and raise capital. We still have the option to raise capital also. Right. And that could be an end scenario. It doesn’t have to be just a partner. Could be, you know, do the QIP as we discussed and get partners through that.<\/p>\n

Also for now, my real focus is to make sure we do, you know, the focus of the whole team, right, is that we do a success with Flipkart. We get other markets interested, other partners interested and then we really make the math of how much money would we really need. Can we just do it? Obviously the best, as you know, right. Is that we just do it with leasing companies and, and finance companies and it works. I think our balance sheet today in our, you know, the, the way we are, we basically have no debt.<\/p>\n

The debt we have is to finance the cash flow today that we need, right. So basically we’re a net positive right now on cash. But you know, if we stay in that situation, can we really grow the size that we would like to without any capital? That, that’d be a fantastic return on investment. But I believe we’ll need probably to, to get some partners and raise some money. But for now, my focus is really get the business going, prove that, you know, the customer are happy. And again, guys, I said this on last call and I’ll say it again, right?<\/p>\n

We’re going live in two weeks. There will be problems, right? I’m not, I mean, we’ve tested all out. We have people in the office playing 16 hours a day, right. Testing the platform, so trying to solve all the bugs. But you know, you know, it is, right? We’re going in new markets, there’s going to be bugs, there’s going to be problems that we didn’t anticipate. We’ll have to solve them and, and, and then we can actually make the assessment of, okay, how big can we make this business, right? So I know it’s a question we all have, right?<\/p>\n

How big could it be? Right. Again, let’s, let’s get it out there, let’s get the feedback, let’s get the, the, you know, let’s get all the problems that we can as fast as we can so we can correct them as fast as we can, right? So<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Agree fc and coming from IT background, I can imagine the excitement for the product launch. Production is production regardless of how much testing you do. But at the same time I’m very positive because we are addressing a market with such a scale and we can replicate that very easily. And once we fix all of this, it’ll be ready for higher and quicker growth that we can have ambition for.<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Totally agree. And again, India is huge, but Africa is huge, right? There’s taxes in Africa, right? When you buy a PlayStation, it costs 800, 300 of tax. Imagine this, how many console we can sell just on the tax portion, right? It makes the whole thing. I think, I really think we have a fantastic business case now. We have to make sure we have a real business. Right. So<\/p>\n

Unidentified Participant<\/strong><\/p>\n

No, sure. And I’ll be buying one and testing out as well. Yeah, thank<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

You. And guys, if you can buy it the first day, right. We’re trying to really push on the first day sale. So if you can go it, we’ll make sure that Pratik just make sure that everybody gets the. The link to. To purchase there on that first day. Sure. Thank you Bhavesh. Participants. Anyone has any question they can go ahead and unmute and ask question.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Since the line is open. Probably I’ll ask a very open but a question to Vikram. What’s his second inning looking like and what’s. What’s keep him exciting for. For. For the next year? Vikram. And it’s been enough quarters so you can probably combine the two as well. Thank you<\/p>\n

Bikram Sherawat<\/strong><\/p>\n

So. Yeah, thanks for the question, Babish. So on mobile is close to my heart and yeah, the second innings is very exciting. So we’ve spoken a lot about virtual console and all that. If you see just the kind of product breadth now we have on the screen. Right. That is something which on mobile never had. We were not playing in enterprise, we were playing in mobile gaming or now we’re going after console and then we manage the legacy as well. Right. So the proof of the pudding is that we’ve done, you know, cash is positive, we are profitable.<\/p>\n

That is really, really exciting. We are doing a lot of things around AI within the organization which probably you don’t see on the slides or the narrative. The whole organization, we are reskilling a lot of people on artificial intelligence. We want to use a lot of those in our own internal predictive models and also product side. So lot of excitement around it on mobile from the. And this is our 25th year. So 25 years of on mobile to see one customer, one country, one operator, to be able to go to 100 plus telcos and manage an operation across five continents in itself is amazing.<\/p>\n

Actually what we see going forward is what is going to define on mobile. So first 25 years has given us the confidence that we have, the way we reach and distribution power. That one product which we take, we can distribute really well to a lot of telcos. So in this case we are going to go beyond telcos also for a virtual console. So that’s what keeps us going and really looking forward to the next couple of years to make the organization even more successful<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Here. Thank you Vikram. And again I mean I wish all of us similar having an company of this size available at 540 crore with 142 crore cash. Again we need to just prove the scale and and the growth and I think the market will reward but yes I think we, we do need to. We are looking forward to all of you leadership for, for making the. The next growth and and and getting into the next year.<\/p>\n

Bikram Sherawat<\/strong><\/p>\n

Thank you Babish. Thank you. Mode of confidence<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

So participants, those who have any questions they can raise their hand and ask question. As there are further no questions I would like to hand it over to FC for the closing comment. Very good. Thank you all. I really look forward to our next call because now we’ll have the results of our launch right so we’ll know basically all the feedback and I’ll be able to share all the problems and and issues that will arise from from this launch and the good news obviously that will come with it. Please again watch for the launch in the coming two weeks and and please if you can go and buy your own console that’d be fantastic.<\/p>\n

So that next call we can have a discussion on what should be adjusted in your personal virtual console. Thank you all. Thank you everyone for joining us. Thank you fc Vikram and Radhika. Again I would like to mention that some of the statements made in today’s call may be forward looking in nature and may involve risks and uncertainties that we see. For such list and such considerations please refer to the earnings presentation on mobile Global undertakes no obligation to publicly revise any forward looking statement to reflect future or likely events or circumstances.<\/p>\n

Thank you for joining. Thanks everyone. Thank you Patrick. Thanks.<\/p>\n

Francois-Charles Sirois<\/strong><\/p>\n

The recording has stopped.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Onmobile Global Ltd (NSE: ONMOBILE) Q4 2026 Earnings Call dated May. 19, 2026 Corporate Participants: Francois-Charles Sirois \u2014 Executive Chairman of the Board Unidentified Speaker Bikram Sherawat \u2014 President and Chief Operating Officer Radhika Venugopal […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-183497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":176384,"url":"https:\/\/alphastreet.com\/india\/onmobile-global-ltd-onmobile-q2-2025-earnings-call-transcript\/","url_meta":{"origin":183497,"position":0},"title":"Onmobile 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\u2014 Executive Chairman of the Board Bikram Sherawat \u2014 President and Chief Operating Officer Radhika Venugopal \u2014 Global Chief Financial Officer Analysts: Unidentified Participant Presentation: operator This meeting is being recorded.\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 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