PropertyGuru: 47% Revenue Growth at in the Third Quarter

PropertyGuru delivered another strong quarter of results, with revenues continuing their growth trajectory, up 47% year-over-year, while expense-related diligence helped deliver improved Adjusted EBITDA.

PropertyGuru: 47%  Revenue Growth at in the Third Quarter
Hari V. Krishnan, Chief Executive Officer and Managing Director Property Guru - Pix Provided

Singapore – November 21, 2022 – PropertyGuru Group Limited (NYSE: PGRU), Southeast Asia’s leading, property technology company, today announced financial results for the quarter ended September 30, 2022. Revenue of S$34.6 million in the third quarter 2022 increased 47% year over year.

Net loss was S$7.4 million in the quarter and Adjusted EBITDA was a positive S$5.7 million. This compares to a net loss of S$9.6 million and Adjusted EBITDA loss of S$1.5 million in the prior year period.

Hari V. Krishnan, Chief Executive Officer and Managing Director, says “Our third quarter results illustrate that PropertyGuru has been able to produce strong business performance even as some of our core markets have begun to face headwinds from the challenging economic conditions being experienced around the globe.”

“In the third quarter, we deployed more products into our core markets. Importantly, in October we welcomed our first post-listing acquisition, Singapore-based home services technology company Sendhelper, into the PropertyGuru family,” Krishnan says.

“This continued commitment to our mission and expansion of our value proposition will allow us to create even more value for our customers as they adapt to the changing environment. We recognize that our ongoing investment in innovation will help our customers successfully navigate the near-term uncertainty, knowing that good companies and good products show their true value when times are challenging.”

Joe Dische, Chief Financial Officer, says in the third quarter, PropertyGuru delivered another strong quarter of results, with revenues continuing their growth trajectory, up 47% year-over-year, while expense-related diligence helped deliver improved Adjusted EBITDA.  


“We remain encouraged by our market penetration as we enter the final quarter of 2022, although we understand that near-term market headwinds resulting from global inflationary pressures and subsequent governmental counteractions will need to be closely monitored.

“While we are confident in the long-term fundamentals of our business and the growth potential that it offers, we understand that the current environment requires us to be especially diligent in the way we currently operate our business on a day-to-day basis.”