PropertyGuru Filings for FY20 Show Net Losses

July 18, 2021
Share this Post: 

Leading Singaporean property portal, PropertyGuru, has reported filings for losses for FY2020. Due to various reasons-the pandemic being the overarching main one- PropertyGuru, like many other real estate companies around the world, met huge losses. 

This recent filing was done through the Accounting and Corporate Regulatory Authority (ACRA) and shows that PropertyGuru saw $11.8 million in net losses. PropertyGuru also reported revenue was down 7.8% from FY2019. 

This is the first time since 2017 that the company saw revenue numbers dip for its full-year filings. 

Another hit to the company’s finances was a failed IPO on the Australian Stock Exchange, which cost the company a significant amount of loss. The IPO, which was expected to raise A$380.2 million, was canceled because of how unstable the market was at the time. 

More blows came in the form of funding round failures. Namely:

  • Fair value loss of $15.1 on conversion option of Series B preference shares.
  • Fair value loss of %2.6 million on Series C preference shares

When it came to liabilities, the company’s total exceeded $42.9 million, compared to $39.4 million, year-over-year.

Early in 2020, the company issued over 84.7k Series E preference shares at $317.90 a share, according to TechInAsia. PropertyGuru’s valuation dropped within that time from US$723 million to US$692 million. After issuing the Series E shares, the company received $26.9 million in total. 

However, 2021 has been the year of bounceback for many companies. Earlier this season, PropertyGuru entered a monumental agreement with REA Group where it would acquire all of REA Group’s shares in Malaysia and Thailand.

July 18, 2021
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Australia Reports Strong Revenue Growth for FY21, Australia’s market-leading rental listings marketplace, has reported revenue growth of 26% in its latest financial report to shareholders for...

Read More
Norban Suburban Swedish Houses
A Model for Our Times? We Speak to Adrian Miller, Co-founder of Swedish Marketplace-Brokerage Norban

Sweden is not a market we tend to hear a lot about in the real estate marketing industry. It has...

Read More
Costar Group
Costar Posts Record Revenue in Q3 as It Continues to Make Moves in Residential

American commercial real estate giant and pretender to Zillow's residential throne released its results for the third quarter of the...

Read More
Proptech Group Results Generic
PropTech Group Shows Impressive Growth in Q1 Figures

The ASX-listed property technology group The PropTech Group has released figures for Q1 of its FY22 operations. Headline figures from...

Read More

Popular News