Tracxn Technologies (TRACXN) Q1 26/27 earnings summary

Executive summary

• Revenue from operations for Q1 FY27 was INR 21.1 crores (₹2,107.86 lakhs), up 2.9% QoQ, with India revenue growing 4.4% QoQ and international revenue up 1.4% QoQ; total income was ₹22.6 Cr.

• EBITDA was INR -4.2 crores, with adjusted EBITDA of -₹3.7 Cr excluding non-cash ESOP expenses; PAT was INR -3 crores, with adjusted PAT of -₹2.2 Cr.

• Customer accounts grew 16% YoY to 2,350, and user count rose 22% YoY to 6,534.

• Deferred revenue reached an all-time high of INR 38.8 crores, up 6% YoY and 2% QoQ.

• Cash and cash equivalents stood at INR 88.2 crores, net of buyback.

Financial highlights

• Total expenses for Q1 FY27 were INR 25.4 crores, with 87% attributed to employee costs.

• Free cash flow for Q1 FY27 was INR -2.2 crores, though another report notes ₹4.8 Cr.

• Average selling price per account was INR 3.6 lakhs/year and per user INR 1.3 lakhs/year, with ASP stabilizing.

• Contract price increased 9% YoY and 7% QoQ.

• PAT margin for Q1 FY27 was -14.28%; EBITDA margin was -20.08%.

Outlook and guidance

• India revenue is expected to grow 15%-20% for the year, likely at the higher end.

• International growth is anticipated to improve as new initiatives and data launches take effect.

• Expense growth is projected to annualize around 10%-12.5%.

• Sales and marketing headcount is set to nearly double closing sales capacity by Dec 2026.

• AI-native access and agentic workflows are expected to contribute to revenue in FY27.