Tracxn: Tracxn profit drops 36% in Q3 FY25 amid flat revenue

Data and research platform Tracxn faced challenges in the last quarter as its revenue remained stagnant, while its profit declined by 36% in the quarter ending December 2024. Tracxn's revenue from operations stayed flat at Rs 21.39 crore in Q3 FY25, compared to Rs 21.14 crore in Q3 FY24, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. Tracxn generated its entire operating revenue from subscription sales, offering access to its data and software. However, the Bengaluru-based firm did not provide a detailed revenue breakdown for the quarter. Including Rs 1.5 crore from non-operating sources, Tracxn's total revenue for Q3 FY25 reached Rs 22.89 crore. Employee benefits remained the largest cost center for Tracxn, accounting for 89% of its total expenditure. These expenses increased by 10% year-on-year, rising to Rs 18.63 crore in Q3 FY25 from Rs 17 crore in Q3 FY24. Overall, Tracxn's total costs grew by approximately 9%, reaching Rs 20.98 crore in Q3 FY25. The stagnant revenue and a nearly 10% increase in overall costs caused Tracxn's profits to drop significantly by 36%, falling to Rs 1.41 crore in Q3 FY25 from Rs 2.21 crore in Q3 FY24. Founded by Abhishek Goyal and Neha Singh, Tracxn specializes in tracking startups and private companies across diverse sectors. Backed by prominent investors like Accel Partners, Peak XV Partners, and Elevation Capital, Tracxn serves subscribers in over 40 countries. As of the last trading session, Tracxn's share price was Rs 69.5, giving the company a market cap of Rs 737.19 crore (around $85 million).