AnyMind continues streak of operating profits in Q3

Photo credit: AnyMind Group

AnyMind Group posted 222 million yen (about US$1.5 million) in operating profit for the third quarter of the 2023 financial year, continuing a profitability streak from the previous quarter.

This also marks a reverse from the US$534,000 in operating losses the Singapore-born company incurred in the same year-ago quarter.

Improvements in gross profit from its three main business units contributed to AnyMind’s Q3 results.

The company grew its gross profit from marketing platforms by 39% year on year to US$11.2 million, with its influencer marketing offering AnyTag achieving “stable growth” across all its markets.

Meanwhile, its gross profit from partner growth platforms was up 41% year on year as they onboarded more customers during the quarter.

The company’s direct-to-consumer platforms also recorded a 40% jump in gross profit for Q3 compared to the same period last year, as the business unit continued its expansion in and out of Japan.

Overall, the company registered a 36% increase in revenue year on year to US$56.6 million.

AnyMind also said that there are no changes to its full-year earnings forecast, as metrics like revenue, gross profit, and operating profit continue to improve.

However, the company also said that its acquisition of Indonesian ecommerce enabler DDI, which was announced last month, will contribute to its financial results for Q4 this year.

AnyMind also recently announced its entry into South Korea, its 14th market, where the firm launched its full suite of services.

See also: Tokyo-listed AnyMind eyes 16x profit in 2023 as more seek online selling tools

Currency converted from yen to US dollar: US$1 = 151.67 yen.