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Yes Securities Report
Tanla Platform Ltd. reported mixed financial performance for the quarter. The sequential revenue growth was below estimates; while Ebitda margin was inline with expectation.
It reported sequential revenue decline of 4.2% QoQ, led by 5.0% QoQ decrease in the revenue of enterprise business and 4.2% QoQ increase in revenue of platform business.
Trubloq processed 83 billion message in Q4 with more than 60% volume market share. There was sequential increase in Ebitda margin(up 253 basis points QoQ) led by improvement in the gross margin of enterprise business. It is a credible play on the rising demand for communications platform as a service solutions across industries for achieving enhanced customer engagement.
Also, increase in smartphone penetration and greater regulatory push towards mandatory SMS alerts would drive CPaaS market. As per industry estimates, the Global CPaaS market is expected to grow at compound annual growth rate of 20% plus from CY20 to CY25E, led by faster adoption of multichannel communication.
The adoption of CPaaS based application-to-person messaging across industries continues to drive volume growth for both enterprise and platform segments of Tanla Platform.
Rising share of higher margin platform segment would drive Ebitda margin of the company.
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