AnyMind’s revenue jumps 60%, posts $2.3m in operating profit for Q1

Photo credit: AnyMind Group

AnyMind Group said it grew its revenue in the first quarter of 2024 by 60% year on year to 10.5 billion yen (US$67 million).

Meanwhile, the company generated roughly US$2.3 million in operating profit for the quarter, reversing a loss of US$383,500 in Q1 2023.

Its gross profit also improved by 57% year on year to US$24.3 million, while its adjusted EBITDA stood at US$4.3 million, which was US$3.1 million higher than the previous year.

Based in Japan, AnyMind Group provides businesses with solutions for services like planning, ecommerce and D2C, marketing, manufacturing, and logistics.

The company said its three core business units continued to grow on a gross profit basis. Its ecommerce unit logged the biggest increase at 82% year on year, which came off the back of financial contributions from continued customer growth and from its recent acquisition of ecommerce enabler Digital Distribusi Indonesia.

Meanwhile, AnyMind’s marketing unit grew 42% year on year, driven by a boost in influencer marketing offerings. Its partner growth arm, which umbrellas its services for publishers and creators, jumped 73%, attributed to growth in new mobile app publishers and global creators.

There can potentially be more growth to unlock for AnyMind, with its previously announced acquisition of Malaysia-based ecommerce enabler Arche Digital slated to be completed by Q2 2024.

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

Currency converted from Japanese yen to US dollar: US$1 = 155.8 yen.