PGRU - PropertyGuru reports Q4 earnings; initiates FY23 outlook

• PropertyGuru press release ( NYSE: PGRU ): Q4 GAAP EPS of -S$0.03.
• Revenue of S$40.01M (+16.5% Y/Y).
• Outlook: The Company anticipates full year 2023 revenues of between S$160 million and S$170 million and Adjusted EBITDA of between S$11 million and S$15 million. In the near-term, the integration and scaling of the Sendhelper acquisition is expected to negatively impact profitability by S$3 million to S$4 million in 2023.
• Beginning in the first quarter of 2023, the Company will no longer remove the ongoing cost of being a listed entity when calculating Adjusted EBITDA.
• For 2023, the Company anticipates that such costs will be between S$11 million to S$12 million. For 2022, such costs were S$11 million, and on this basis the Company’s full year 2022 Adjusted EBITDA would be S$3 million.

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