Flickstree, a Mumbai-based adtech company, reported a 36% increase in revenue to Rs 63.85 crore in FY24, compared to Rs 46.85 crore in FY23. Over 98% of its revenue is derived from its operations, with operating revenue streams including advertisement income (99.7%) and income from gift card (0.22%).
Founded in 2016, Flickstree offers a platform, PlusYou Club, where users watch branded videos and interact with quizzes, polls, and crosswords, driving brand messaging and transactions. The platform caters to over 200 brands globally, generating transactions worth over $50 million annually and serving an active user base of 25 million. Flickstree’s AI capabilities enable auto-generation of branded video content, including scriptwriting and voiceovers.
The company’s expenses grew by 40% to Rs 70.13 crore in FY24, up from Rs 50.11 crore in FY23, driven by rising costs of materials and employee benefits. Employee benefit costs accounted for 12.21% of total expenses in FY24, up from 11.40% in FY23, while the cost of materials decreased to 73.14% in FY24 from 77.15% in FY23. Advertisement expenses remained negligible, contributing only 0.013% of total costs in FY24.
Flickstree’s losses widened by 2x to Rs 6.63 crore in FY24, compared to Rs 3.29 crore in FY23. Its EBITDA margin declined to -7.19% in FY24, from -4.7% in FY23, while ROCE deteriorated to -19.37% from -16.01% in FY23, reflecting the company’s continued investments in scaling operations.
The company has raised a total of Rs 74.13 crore across six funding rounds, with the latest round in May 2024. Co-founders Saurabh Singh, Rahul Jain, and Nagender Sangra collectively hold 41.96% of the company’s shares. Other significant stakeholders include 9Unicorns (2.22%) and Venture Catalyst (1.06%), with 5.56% allocated to the ESOP pool.