OMH: Guiding to Strong Revenue Growth Following Acquisition, Organic Steps

Zacks Small Cap Research05-02

By M. Marin NASDAQ:OMH READ THE FULL OMH RESEARCH REPORT Company reiterates expectation for breakeven EBITDA by the end of 2024… Singapore-based technology company Ohmyhome Ltd’s (NASDAQ:OMH) ...

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Marin\n NASDAQ:OMH\nREAD THE FULL OMH RESEARCH REPORT\nCompany reiterates expectation for breakeven EBITDA by the end of 2024…\n\nSingapore-based technology company Ohmyhome Ltd’s (NASDAQ:OMH) ...</p>\n\n<a href=\"https://finance.yahoo.com/news/omh-guiding-strong-revenue-growth-161600465.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>OMH: Guiding to Strong Revenue Growth Following Acquisition, Organic Steps</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOMH: Guiding to Strong Revenue Growth Following Acquisition, Organic Steps\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-02 00:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/omh-guiding-strong-revenue-growth-161600465.html><strong>Zacks Small Cap Research</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By M. Marin\n NASDAQ:OMH\nREAD THE FULL OMH RESEARCH REPORT\nCompany reiterates expectation for breakeven EBITDA by the end of 2024…\n\nSingapore-based technology company Ohmyhome Ltd’s (NASDAQ:OMH) ...</p>\n\n<a href=\"https://finance.yahoo.com/news/omh-guiding-strong-revenue-growth-161600465.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OMH","symbol_name":"Ohmyhome Ltd","start_time":0,"source_url":"https://finance.yahoo.com/news/omh-guiding-strong-revenue-growth-161600465.html","article_id":"2432630965","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/WdM2jN7FBRqU0kdm8eCU0A--~B/aD00NzI7dz0xMDQ4O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/scr.zacks.com/0799cbd8796ac579116b500eca92fc9c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432630965","pubTimestamp":1714580160,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Company reiterates expectation for breakeven EBITDA by the end of 2024…Singapore-based technology company Ohmyhome Ltd’s  believes that its productivity per agent continues to outperform that of the largest Singaporean agencies. This, plus the expansion into property management and launch of HomerAI are factors behind OMH’s projection that it will reach breakeven EBITDA by 4Q24 on its way toward positive EBITDA. With the benefits of its platform and incorporation of Simply Sakal , OMH projects that 1H 2024 revenue will increase following the acquisition and surpass the previous two years, supported by a substantial increase in the sales pipeline and the company’s 2023 deployment of HomerAI. The company projects full-year 2024 revenue will be triple that of 2023 and that adjusted EBITDA can reach breakeven in 4Q24.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"OMH":"Ohmyhome Ltd"},"translate_title":"OMH：引导收购后强劲的收入增长，有机步骤","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OMH":1},"content_text":"By M. Marin\n NASDAQ:OMH\nREAD THE FULL OMH RESEARCH REPORT\nCompany reiterates expectation for breakeven EBITDA by the end of 2024…\n\nSingapore-based technology company Ohmyhome Ltd’s (NASDAQ:OMH) believes that its productivity per agent continues to outperform that of the largest Singaporean agencies. This, plus the expansion into property management and launch of HomerAI are factors behind OMH’s projection that it will reach breakeven EBITDA by 4Q24 on its way toward positive EBITDA. With the benefits of its platform and incorporation of Simply Sakal (now rebranded as Ohmyhome Property Management), OMH projects that 1H 2024 revenue will increase following the acquisition and surpass the previous two years, supported by a substantial increase in the sales pipeline and the company’s 2023 deployment of HomerAI. The company projects full-year 2024 revenue will be triple that of 2023 and that adjusted EBITDA can reach breakeven in 4Q24. \n\nGrowing Units Under Management Expected to Drive Revenue Growth \nThe acquisition diversifies Ohmyhome’s revenue base, adding a less seasonal, recurring revenue stream, and is expected to accelerate growth, particularly as this operating unit expands units under management. Importantly, Simply, or Ohmyhome Property Management, expands OMH’s access to Singapore’s private residential segment where revenue per transaction is higher. According to OMH filings, Simply reported operating revenues of S$2.6 million (US$2.0 million) in 2022, up 58% from S$1.7 million in 2021. Much of this growth reflects the increase in number of residential units managed over this period. \nThe business unit managed 6,746 residential units as of December 31, 2023, up about 45% compared to year-end 2022. The goal is to continue to increase the number of units under management, which Ohmyhome believes will contribute to growing Ohmyhome Property Management revenue (in 1H 2023, Simply registered operating revenue growth of about 23% year-over-year). \n\nThe goal to increase units under management likely has a positive tailwind from actions by the Singapore government. According to Singapore’s Urban Redevelopment Authority (URA), the government has taken measures to increase the country’s housing stock.\nProperty management expands platform, paper-based space set for digitalization \nThe company views its use of technology and data as key competitive advantages and believes the property management space is ripe for digitalization. The property management sector in Singapore and Southeast Asia is fragmented, according to Ohmyhome, which believes there exists a need for digitalization to provide a better access for both managing agents and condominium residents. The company views “its paperless workflow process in the paper-heavy industry” as an important strength of the company’s digital platform.\nSUBSCRIBE TO ZACKS SMALL CAP RESEARCH to receive our articles and reports emailed directly to you each morning. Please visit our website for additional information on Zacks SCR. \n \nDISCLOSURE: Zacks SCR has received compensation from the issuer directly, from an investment manager, or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks SCR provides and Zacks SCR receives quarterly payments totaling a maximum fee of up to $40,000 annually for these services provided to or regarding the issuer. 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