- PropertyGuru’s Q2 losses widened to $16.1 million
- Revenue grew 10.3% year-over-year
- The company plans to go private through a $1.4 billion acquisition
Red ink flows
PropertyGuru reported a widened net loss of $16.1 million in Q2 2024, compared to $6.5 million in the same period last year.
Despite the increased losses, the company saw a 10.3% year-over-year revenue growth, reaching $40.7 million.
Singapore leads the charge
The company’s Singapore marketplace segment shone brightest, boasting a 16% revenue increase to $25 million.
This growth stemmed from a rise in both agent numbers and average revenue per agent.
Going private
In a significant move, PropertyGuru announced plans to go private through a $1.4 billion acquisition by EQT Private Capital Asia.
The deal, expected to close by early 2025, aims to free the company from public market pressures and foster long-term innovation.
