LatentView Analytics Q2FY23 revenue grew 10% QoQ & 40% YoY; EBITDA Margin at 28%

LatentView-Analytics-Q2FY23-revenue-grew-10%-QoQ-&-40%-YoY;-EBITDA-Margin-at-28%

LatentView-Analytics-Q2FY23-revenue-grew-10%-QoQ-&-40%-YoY;-EBITDA-Margin-at-28%

Chennai, India: Latent View Analytics Limited (BSE: 543398, NSE: LATENTVIEW), a global digital analytics consulting and solutions firm, today announced its financial results for the Second Quarter and Half Year ending September 30, 2022.

Commenting on the Q2FY23 results, Rajan Sethuraman, Chief Executive Officer, LatentView Analytics, said, “We are happy to report yet another strong quarter performance, with revenue growth of 10% on a QoQ basis corresponding to ₹1,324 million, as well as 40% growth on YoY basis. Our performance was broad based, led by growth across our key verticals. Despite the global macroeconomic concerns, we are seeing robust demand for our services across a range of business segments. The investments we made over the years to build capabilities, assets and accelerators have now started showing results. We witnessed healthy client additions, of which two are Fortune 500 companies. We ended the quarter with a headcount of more than 1,050, highest in the company’s history. We onboarded 102 campus hires during the quarter. LatentView remains fully committed to growth primarily, with strong focus on profitability.”

Rajan Venkatesan, Chief Financial Officer, LatentView Analytics, said, “Our EBITDA margin for the quarter was at 28.2% despite sustained investments in our GTM teams, capability building and talent upskilling/training programs. Our Cash and Investments (excluding proceeds from the IPO) as of September 30, 2022, stood at ₹6,870 million. LatentView’s verticalized approach, value propositions based on gaps identified in the market and our commitment to strengthening our teams across the board, keeps us well positioned for the future.”

 

Key Financial Highlights

Particulars               Amount in ₹ Million Q2FY23 QoQ     Growth YoY     Growth H1FY23 YoY     Growth
Operating Revenue 1,324 10.4% 39.7% 2,523 38.2%
EBITDA 373 7.4% 41.1% 721 34.7%
EBITDA % 28.2% 28.6%
PBT 433 3.6% 55.3% 851 50.8%
PBT % 30.7% 31.4%
PAT 373 18.4% 71.7% 688 56.2%
PAT % 26.4% 25.4%
Basic EPS (₹) 1.86 18.5% 48.8% 3.43 35.3%

 

Select Key Client Wins

  • We partnered with the top real-estate website in the US to improve customer experience and optimize marketing spends by leveraging our extensive experience across the Data Engineering, Business Analytics and Data Science domains
  • We partnered with a multi-national consumer electronics manufacturer for Marketing and Web analytics to double their e-commerce revenue. In collaboration with their D2C digital marketing team, our objective will be to increase the conversion rate and grow overall revenue in e-commerce through cross-sell and up-sell
  • For one of the largest global toy manufacturers, we delivered reduced revenue loss from missed sales and reduced inventory holding cost for its US market. We achieved this by significantly improving their new product sales forecasting accuracy and reducing under-forecasting by leveraging the power of AI/ML, analytics consulting and delivery, as well as our suite of accelerators from our ConnectedView value proposition
  • We are partnering with a US-based content management platform to build analytical solutions that will help derive insights from their current marketing and sales life cycle. This will enable them to better influence the buyer journey and make data-driven  decisions. The collaboration also entails efficient tracking of users and accounts on their website and paid media optimization

 

Other Business Highlights

  • Our people are our biggest assets; towards this end, we are pleased to announce that LatentView is now Great Place to Work certified. The recognition is based on the responses given by our employees across various parameters that constitutes employee satisfaction. This certification further reinforces LatentView Analytics as an employer of choice
  • LatentView recently commenced work with a global strategy consulting firm to provide analytics & Data Engineering support for a large US-based telecom company. We intend to build this into a larger strategic partnership with the consulting firm
  • Adding to the strong leadership presence across the board, LatentView recently hired Sumit Misra, a seasoned senior management professional with over 25 years of experience in formulating growth strategies across diverse vertical segments as Head –  Data Engineering
  • After a two-year hiatus on account of the pandemic, the LatentView Roundtable event was held at The Ritz Carlton, San Francisco, in July 2022, with several of our key and potential clients participating. The thought-leadership event was themed around strategies to  “Achieve Next-Level CX” and the key role that data analytics plays as part of it.

 

About LatentView Analytics

LatentView Analytics is a global digital analytics consulting and solutions firm that enables companies to excel in the digital world by harnessing the power of data and analytics. The company creates holistic and sustainable impact for some of the world’s largest brands, including more than 30 Fortune 500 companies over the last 3 years in the retail, CPG, financial services, technology, media & entertainment, travel & hospitality, and industrials sectors. LatentView has been recognized as an industry leader by Gartner, Deloitte and others for its analytics work and vibrant company culture. Founded in 2006, LatentView has a globally distributed workforce of 1050+ employees, and is present in 6 countries across 3 continents. For more information, visit https://www.latentview.com/ or follow us on LinkedIn.

 

Safe Harbour

This release may contain certain forward-looking statements, which involves risks and uncertainties that could cause actual results to differ materially from those that be projected by these forward-looking statements. LatentView Analytics Ltd. undertakes no obligation to update forward looking statements that may be made by us from time to time by us or on our behalf.