OMH: Organic Growth, Benefits of New Property Management Unit Boost Results

Zacks Small Cap Research10-10

By M. Marin NASDAQ:OMH READ THE FULL OMH RESEARCH REPORT 1H 2024 revenue up 106%% y/y… Singapore-based technology company Ohmyhome Ltd’s (NASDAQ:OMH), which operates a technology platform that offers...

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Marin\n NASDAQ:OMH\nREAD THE FULL OMH RESEARCH REPORT\n1H 2024 revenue up 106%% y/y…\nSingapore-based technology company Ohmyhome Ltd’s (NASDAQ:OMH), which operates a technology platform that offers...</p>\n\n<a href=\"https://finance.yahoo.com/news/omh-organic-growth-benefits-property-151200240.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: Organic Growth, Benefits of New Property Management Unit Boost Results</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: Organic Growth, Benefits of New Property Management Unit Boost Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-10 23:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/omh-organic-growth-benefits-property-151200240.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\n1H 2024 revenue up 106%% y/y…\nSingapore-based technology company Ohmyhome Ltd’s (NASDAQ:OMH), which operates a technology platform that offers...</p>\n\n<a href=\"https://finance.yahoo.com/news/omh-organic-growth-benefits-property-151200240.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":"BK4079","symbol_name":"房地产服务","start_time":0,"source_url":"https://finance.yahoo.com/news/omh-organic-growth-benefits-property-151200240.html","article_id":"2474775709","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/5CBck84BVWz.pU2iMjGemA--~B/aD0xMTA2O3c9MTU1ODthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/scr.zacks.com/a2a6802723159c475acc97dc2a0a462c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474775709","pubTimestamp":1728573120,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Singapore-based technology company Ohmyhome Ltd’s , which operates a technology platform that offers the convenience of end-to-end property solutions and services, recently reported 1H 2024 results and provided a business update. Consistent with OMH’s recent guidance, Ohmyhome more than doubled revenue in 1H 2024 (up 106% year-over-year compared to the same period of 2023, coming in at S$4.5 million (US$3.3 million).Notably, the revenue advance reflects increases in each of OMH’s three core business units. Specifically, brokerage services revenue advanced 13.9% year-over-year, the higher mortgage interest rate environment and general slowdown in market transaction activity notwithstanding. The company previously indicated that its GTV  benefited from its tech investments in HomerAI, its AI feature. Revenue from the company’s new Property Management services segment was S$2.0 million , while revenue from emerging and other services advanced 16% year-over-year compared to the same period","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4079":"房地产服务","OMH":"Ohmyhome Ltd"},"translate_title":"OMH：有机增长，新物业管理部门的好处提振业绩","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\n1H 2024 revenue up 106%% y/y…\nSingapore-based technology company Ohmyhome Ltd’s (NASDAQ:OMH), which operates a technology platform that offers the convenience of end-to-end property solutions and services, recently reported 1H 2024 results and provided a business update. Consistent with OMH’s recent guidance, Ohmyhome more than doubled revenue in 1H 2024 (up 106% year-over-year compared to the same period of 2023, coming in at S$4.5 million (US$3.3 million). \n\nNotably, the revenue advance reflects increases in each of OMH’s three core business units. Specifically, brokerage services revenue advanced 13.9% year-over-year, the higher mortgage interest rate environment and general slowdown in market transaction activity notwithstanding. The company previously indicated that its GTV (gross transaction value) benefited from its tech investments in HomerAI, its AI feature. Revenue from the company’s new Property Management services segment was S$2.0 million (US$1.5 million), while revenue from emerging and other services advanced 16% year-over-year compared to the same period of 2023. Higher demand for renovation services drove a 206% annual increase in independent third-party revenue. The company had previously indicated that the renovation business benefitted from demand from more office and residential projects.\nMargin improvement on higher revenue base, cost containment efforts… \nOn the higher revenue base, Ohmyhome recorded gross margin improvement in all three of its core business segments. Specifically, the Brokerage services’ gross margin expanded roughly 300 bps to 49% from 46%. The new Property management services segment recorded a 33% gross margin and the gross margin for the emerging and other services business increased from 23% to 28%. As a result of these factors, OMH recorded a 108% year-over-year advance in gross profit to S$1.7 million, up from S$803.6k in 1H 2023. \nCost containment measure, anticipated revenue growth expected to drive further margin improvement \nMoreover, on the higher revenue and gross profit, OMH’s EBITDA loss margin narrowed considerably – to -44% from -107% in the comparable period of 2023 and its net income loss narrowed to S$2.3 million (US$1.7 million), or US$0.07 per share, compared to a net loss of S$2.5 million in the same period of 2023.\nThe company expects to maintain its focus on constraining operating expenses and anticipates further reduction in EBITDA loss in 2H 2024. Importantly, the higher total value of contracts signed in Q324 support management’s expectation for ongoing revenue growth, while at the same time, OMH continues measures to optimize its costs and operational efficiency. In addition, the company’s founders entered into an agreement with OMH on September 9, 2024, to settle an amount of their salaries deferred year-to-date through August 2024 through the issuance of 217,565 shares to each.\nThe company also continues to pursue a strategy to expand its service offerings, boost market share, expand into additional markets and accelerate growth organically and through strategic M&A or investments. OMH had cash and cash equivalents stood at S$2.4 million (US$1.8 million) As of June 30, 2024 to support its strategy. \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. Full Disclaimer HERE.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474775709"}