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Revenue
₹540 Cr
verified against source
Revenue YoY
94%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Rategain reported Q3 FY26 revenue of ₹540 crore, up 94% YoY, driven by the Sojern acquisition and organic growth of 4.1%. EBITDA grew 42% YoY, with consolidated margin at 16.1%. Reported PAT declined due to one-time exceptional costs of ₹34.6 crore; adjusted PAT grew 8% YoY. Organic EBITDA margin was 17.5%, in line with guidance. Management highlighted $12 million in annualized cost synergies from Sojern within 100 days, with full impact from Q1 FY27. Bookings grew 30% YoY in 9M, signaling strong pipeline. Q4 organic growth is expected to be double-digit. The company aims for a billion-dollar revenue by 2030. Key risk: integration execution and potential customer overlap may delay synergy realization.
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Guidance to track
- Management expects double-digit organic revenue growth in Q4 FY26, driven by strong booking momentum and pipeline.
- Full-year organic revenue growth expected at 6%+ and EBITDA margin between 17.5-18%, exceeding initial guidance.
- Cost synergies of $12M annualized will lift Sojern's EBITDA margin to 18.5-19.5%, partially visible in Q4 and fully from Q1 FY27.
- Management set an internal goal of reaching $1 billion in revenue by 2030, implying roughly 3x growth from current run-rate.
Risks flagged
- Combining Sojern's operations and customer base may face challenges; customer overlap is less than 5% but harmonization of reporting and systems is ongoing.
- Q3 organic growth was impacted by December-end revenue deferral to January 2026, which could recur if seasonality patterns persist.
- Analyst raised concern about new AI platforms potentially disrupting SaaS; management views AI as an accelerator but competitive dynamics remain uncertain.
- Recurring amortization of $2.823M per quarter and deferred consideration of $2-2.5M per quarter will pressure PAT until revenue synergies materialize.
Key quotes
- We delivered revenue of 540 crores up 94% year-on-year. EBITDA grew 42%.
- We have already executed approximately $12 million in annualized cost savings in Sojern on a base of 24 million annual EBITDA in Sojern.
- Our goal will be to be between that 18 to 20% range. And we will continue to reinvest additional margins back into the business.
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