One MobiKwik Systems Q1 loss widens to ₹42 cr; revenue declines 20.7% to ₹271 cr
The Gurgaon-headquartered firm's revenue from operations stood at ₹ 271.3 crore, a 20.7 per cent decline from ₹ 342.2 crore in Q1 FY25, as per a regulatory filing.
Seen sequentially, losses narrowed from ₹ 56 crore in Q4 FY25, while revenue saw an uptick of 1.3 per cent.
Total expenses were at ₹ 312.8 crore during the first quarter of FY26, compared with ₹ 343.6 crore in the same period last year. Payment gateway costs grew to ₹ 142.8 crore, up from ₹ 127.6 crore, while employee benefit expenses stood at ₹ 41.9 crore, reflecting a modest increase from ₹ 39.1 crore in the year-ago quarter.
The company, which concluded its IPO during the quarter ended December 31, 2024, stated that it has utilised ₹ 214 crore of its net IPO funds as of June 30, 2025, out of a total corpus of ₹ 530.5 crore.
The proceeds were used towards funding organic growth in financial services business ( ₹ 45.9 crore), funding organic growth in payment services business ( ₹ 69.9 crore), R&D in data, machine learning, artificial intelligence, product and technology ( ₹ 30.8 crore), capital expenditure payment devices business ( ₹ 2.4 crore), and general corporate purposes.
MobiKwik said it recorded the "highest-ever" quarterly payments GMV (Gross Merchandise Value) in Q1 FY26 at ₹ 38,388.2 crore.
The company's user base stood at 180.2 million and merchant base at 4.64 Mn in Q1 FY26.
"We are pleased with the consistent progress across our core business. Payments demonstrated strong growth, and Financial Services recovered, resulting in an improved Q1 EBITDA, which reinforces our path to profitability. We remain focused on driving operating leverage and building for long-term value creation," said Upasana Taku, Executive Director, Co-founder and CFO, One MobiKwik Systems Ltd.
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