InMobi's Glance grows 78% in FY23; 76% of operating rev from advertising
The company posted Rs 317 crore in revenue from operations, of which Rs 242 crore was derived from advertising alone
InMobi's lock screen platform Glance has reportedly posted 77% growth in revenue from operations in FY23. The platform raked in Rs 317 crore, up from Rs 178 crore in the previous fiscal, according to news reports quoting the company's holding group's filings in Singapore.
Income from advertising constituted 76% of its total operating revenue, which reportedly grew 62.6% to Rs 242 crore.
Total expenses grew 27.6% to Rs 1414 crore, up from Rs 1108 crore in the previous fiscal.
Losses grew 18.6% to Rs 1067 crore in March 2023 from Rs 900 crore in FY2022.
Glance is a lock screen platform platform that offers mobile lock screen content management and advertising solutions.
In February 2022, the platform raised a staggering $200 million in its series D round from Reliance-owned Jio Platforms as part of a strategic deal.
