Mdundo.com (MDUNDO) Q4 24/25 earnings summary

Executive summary

• Monthly active users (MAUs) reached 40.5M, up 14% year-over-year, surpassing guidance.

• Subscription revenue grew 18% to DKK 8.7M, while advertising revenue declined 51% due to weak CPMs.

• EBITDA improved to -5.5M DKK from -6.4M DKK, reflecting cost discipline and operational efficiency.

• Strategic priorities include resolving billing challenges, diversifying payments, and exploring ownership changes.

Financial highlights

• Subscription revenue increased 18% YoY to DKK 8.7M, driven by expanded telco partnerships and new payment integrations.

• Advertising revenue dropped 51% YoY to DKK 2.2M, impacted by lower CPMs, especially in Nigeria.

• Cash and equivalents decreased to DKK 5.5M from DKK 11.3M last year.

• OPEX reduced by 19%, with significant cuts in marketing and administrative costs.

• One-off provision of -0.4M DKK made for account receivables during audit.

Outlook and guidance

• FY 2025/26 revenue expected at DKK 12-15M, up from DKK 11.0M in FY 2024/25.

• EBITDA projected at DKK -2 to -3M, improving from DKK -5.5M.

• MAUs forecasted to reach 45M, a 12.5% increase.

• Cash position expected to decline to DKK 1-2M.