- 17Live’s adjusted EBITDA jumped 26% in fiscal 2023 debut.
- Strong operating income offset 23% revenue drop.
- Cost discipline, improved margins signal livestreaming platform’s profitability focus.
Singapore-listed livestreaming platform 17Live reported a 26% year-on-year rise in adjusted EBITDA to $20 million for fiscal 2023, its first annual earnings since going public.
Strong operating income fueled the profit boost despite a 23% drop in revenue to $279 million.
Cost discipline is key
17Live’s effective cost management and focus on returns paid off with a 37% operating income increase.
Gross profit margins improved to 41.2% from 34.7% in 2022 as the company kept a tight rein on expenses, slashing marketing costs by nearly 13%.
While livestreaming remains 17Live’s bread-and-butter, live commerce and other emerging businesses saw revenues soar 34.7% to $8.1 million.
The stream flows on
The firm’s IP-Oh listing “significantly enhanced” its balance sheet health with $102.7 million in cash and no debt.
Over 550,000 monthly active users and nearly 87,000 livestreamers across 130+ regions, 17Live hit all the right notes in its market debut. Its “improved liquidity” bodes well to navigate evolving content consumption trends.
To read the original article: https://www.techinasia.com/sgxlisted-17live-records-25-rise-ebitda-2023
