The following is a summary of the PropertyGuru Group Limited (PGRU) Q1 2024 Earnings Call Transcript:

Financial Performance:

• PropertyGuru reported a solid 12% increase in revenue in Q1 2024, bringing the total to $37 million.

• Adjusted EBITDA margin saw a substantial growth of 12%, from less than 1% in Q1 2023.

• Singapore remains a robust market with a 25% hike in revenue to $24 million and an impressive 79% adjusted EBITDA margin.

• Malaysia and Vietnam revenues were stagnant, maintaining at $7 million and $3 million respectively.

Business Progress:

• Promising recovery noted in Vietnam and Malaysia with strong performance maintained in Singapore.

• PropertyGuru integrates AI and machine learning into product development, such as the auto-creation of videos from listing images and descriptions.

• The company is committed to enhancing marketplace trust and transparency, as seen through the launch of the professional agent verification in Vietnam.

• In line with its sustainability mandate, PropertyGuru released its first sustainability report.

• The company signals positivity in its growth prospects due to its focus on innovative technologies and strategic investments. With efforts to streamline go-to-market strategies and increased investment in marketing and people, PropertyGuru is well-positioned for future growth opportunities.

More details: PropertyGuru IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.