Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Revenue
₹718 Cr
verified against source
Revenue YoY
19.2%
reported change
EBITDA
₹163 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Affle delivered a strong Q3 FY26 with revenue of INR 718 crore (+19.2% YoY) and EBITDA of INR 163 crore (+24.1% YoY), marking the 11th consecutive quarter of sequential growth. PAT hit a record INR 119 crore (+19.1% YoY). Growth was broad-based across verticals and geographies, with India & emerging markets contributing 73.9% of revenue. The CPCU business drove 119.7 million conversions at a record CPC rate of INR 59.6. Management highlighted AI-driven platform enhancements (Nico engine) and verticalization strategy as key differentiators. Guidance implies sustained 18-20% revenue growth with EBITDA growth outpacing revenue. Risks include geopolitical uncertainty and potential slowdown in advertiser budgets.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects revenue growth in the 18-20% range, with EBITDA growth of 23-25% and margin expansion.
- Internal KPIs target combined revenue and EBITDA growth of ~45%, with EBITDA growth faster than revenue.
- Management shortlisted 4 targets from 12 and expects to close a sizeable acquisition in 2026, following historical playbook.
- Normal seasonality suggests Q3 is peak; Q4 may see slight dip but could surprise positively if geopolitical conditions remain stable.
Risks flagged
- Management noted that global geopolitical tensions could cause advertisers to pull back spending, affecting Q4 and beyond.
- Data and inventory costs rose as a percentage of revenue due to investments in verticalization for international markets; management expects this to continue for a few more quarters.
- The RMG ban resulted in a ~INR 10-12 crore revenue loss in Q3 compared to base, though offset by broad-based growth.
- OCF/PAT ratio fell to 75.8% due to agency audits; management expects normalization but any delay could affect cash flows.
Key quotes
- We surpassed INR 7 billion mark in quarterly revenue run rate while delivering our highest ever quarterly profit after tax, CPCU conversions and CPC rate.
- Our internal KPI to the team is that both revenue growth and EBITDA growth have to grow on an average of about over 20 to 25%.
- We have shortlisted from 12 to 4 and hopefully from 4 to 1 in the near term because we want to make sure that if we are going to do that one transaction, may that be the best inorganic expansion move of our company.
Research modules