710
18 days ago
MyGate Trims FY25 Loss By 61% To ₹15.4 Cr
Summary
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ManagementX by Inc42 – India’s first Startup Management Program is a 6-month hands-on program that will take you on an intense journey that shatters the outdated “employee mindset” and equips you with the “leader mindset”.
D2CX Foundations by Inc42 is a 6 week hands-on program to help you launch your D2C brand successfully and profitably. Learn from India’s top 1% of D2C founders & experts through actionable insights, proven strategies and tactics on how to launch a successful D2C Brand in 6 weeks.
MyGate managed to trim its net loss for the fiscal year FY25 by 61% to ₹15.4 Cr from ₹39.7 Cr loss incurred in the previous fiscal
MyGate reported a 80% jump in operating revenue to ₹173.5 Cr from ₹96.2 Cr in FY24
Total expenses rose 36% to ₹202.1 Cr in FY25 from ₹148.9 Cr in the previous year
Community management and security startup myGate managed to trim its net loss for the fiscal year FY25 by 61% to ₹15.4 Cr from ₹39.7 Cr loss incurred in the previous fiscal. The startup’s bottom line performance improved on the back of a sharp uptick in its operating revenue.
The company said it posted an adjusted operating EBITDA of ₹40 Lakh during the year, achieving EBITDA breakeven.
For the fiscal year under review, MyGate reported a 80% jump in operating revenue to ₹173.5 Cr from ₹96.2 Cr in FY24.
The startup would have been profitable if not for ESOP and stock related expenses of ₹22.5 Cr during the year under review.
Cofounder and CEO Abhishek Kumar told Inc42 that the previous fiscal marked a shift for MyGate towards a sustainable growth path. He noted that the startup turned profitable on a PBT basis, reporting a profit of ₹7.1 Cr before ESOP costs.
For FY26, he expects revenue to grow 25-30% year-on-year. Kumar added that the adjusted EBITDA margin is likely to cross the 5% mark this year from less than 1% in FY25.
What’s Driving MyGate’s Growth?
In FY25, MyGate continued to double down on its high-margin advertising vertical, monetising its dense network of gated communities through a mix of in-app inventory and on-ground campaigns.
The platform’s hyperlocal targeting — down to the postal code level — allows brands to reach 100-200 apartment complexes within a 10 km radius, making it especially lucrative for premium and neighbourhood businesses that are on the lookout for an affluent clientele.
As of now, MyGate earns around 65-70% of its total income now comes from brands advertising on its app. The startup built its own in-house ad platform, which allows brands to run highly targeted campaigns.
Advertisers can choose to reach users in specific cities, select individual housing societies, or even narrow it down to particular homes, depending on their objectives and budgets.
Kumar said this model has evolved in response to market realities. While MyGate’s core product is a SaaS platform used by nearly 5 Mn homes, many housing societies are reluctant to pay the full subscription fee.
To ensure adoption and scale, the startup offers gated communities a low-cost subscription plan or, in some cases, even a complimentary model. It then monetises this large user base via advertising, creating what Kumar described as a “win-win” setup.
The remaining 30-35% of revenue comes from SaaS subscriptions paid by residential communities and newer offerings such as smart home hardware.
For context, MyGate entered the smart lock segment in October 2024. Given the nascency of the business, Kumar believes that the hardware business is still at an early stage. While it is expected to contribute 7-9% of revenue in FY26, he added that advertising and SaaS are likely to grow faster than hardware in the near term.
Notably, the smart lock category is competitive, with players such as Godrej, Yale, Urban Company and other brands already in the market.
Mygate’s locks, per Kumar, are manufactured in China, “similar to many other brands in the segment”. He said it controls product design and quality checks, while user data is stored in India on AWS infrastructure.
In the fiscal year under review, MyGate also integrated with ecommerce and quick commerce platforms to help reduce waiting time for delivery partners at society gates. These integrations aim to save time taken per delivery by streamlining entry processes.
Moving forward, MyGate’s focus will remain on deepening features rather than entering new verticals immediately.
Total expenses rose 36% to ₹202.1 Cr in FY25 from ₹148.9 Cr in the previous year.
Employee Benefit Expenses: The startup’s expenses in this category increased 18.7% to ₹97.2 Cr, from ₹81.9 Cr reported in the year ago period.
Advertising Expenses: Advertising expenses for the period under review stood at ₹12.3 Cr, up almost 3X from ₹4.2 Cr in previous fiscal.
IT Expenses: Its IT Expenses in FY25 stood at ₹15.9 Cr, up 15.2% from ₹13.8 Cr in FY25.
Editor’s Note: The story has been edited to change EBITDA numbers.
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ManagementX by Inc42 – India’s first Startup Management Program is a 6-month hands-on program that will take you on an intense journey that shatters the outdated “employee mindset” and equips you with the “leader mindset”.
D2CX Foundations by Inc42 is a 6 week hands-on program to help you launch your D2C brand successfully and profitably. Learn from India’s top 1% of D2C founders & experts through actionable insights, proven strategies and tactics on how to launch a successful D2C Brand in 6 weeks.
Stay ahead with the latest news, funding, startup financials, & governments policies on the hottest tech industries in the Indian startup ecosystem.
Get featured, partner or work with India's #1 startup media & intelligence platform and explore what else Inc42 has to offer.
Stay ahead with the latest news, funding, startup financials, & governments policies on the hottest tech industries in the Indian startup ecosystem.
Get featured, partner or work with India's #1 startup media & intelligence platform and explore what else Inc42 has to offer.
D2CX by Inc42 is a 12-week hands-on program to help you level up your D2C game. Learn from India's top 1% D2C founders and experts through actionable insights, proven strategies and tactics on how to 10X your D2C brand.
ManagementX by Inc42 – India’s first Startup Management Program is a 6-month hands-on program that will take you on an intense journey that shatters the outdated “employee mindset” and equips you with the “leader mindset”.
D2CX Foundations by Inc42 is a 6 week hands-on program to help you launch your D2C brand successfully and profitably. Learn from India’s top 1% of D2C founders & experts through actionable insights, proven strategies and tactics on how to launch a successful D2C Brand in 6 weeks.
MyGate managed to trim its net loss for the fiscal year FY25 by 61% to ₹15.4 Cr from ₹39.7 Cr loss incurred in the previous fiscal
MyGate reported a 80% jump in operating revenue to ₹173.5 Cr from ₹96.2 Cr in FY24
Total expenses rose 36% to ₹202.1 Cr in FY25 from ₹148.9 Cr in the previous year
Community management and security startup myGate managed to trim its net loss for the fiscal year FY25 by 61% to ₹15.4 Cr from ₹39.7 Cr loss incurred in the previous fiscal. The startup’s bottom line performance improved on the back of a sharp uptick in its operating revenue.
The company said it posted an adjusted operating EBITDA of ₹40 Lakh during the year, achieving EBITDA breakeven.
For the fiscal year under review, MyGate reported a 80% jump in operating revenue to ₹173.5 Cr from ₹96.2 Cr in FY24.
The startup would have been profitable if not for ESOP and stock related expenses of ₹22.5 Cr during the year under review.
Cofounder and CEO Abhishek Kumar told Inc42 that the previous fiscal marked a shift for MyGate towards a sustainable growth path. He noted that the startup turned profitable on a PBT basis, reporting a profit of ₹7.1 Cr before ESOP costs.
For FY26, he expects revenue to grow 25-30% year-on-year. Kumar added that the adjusted EBITDA margin is likely to cross the 5% mark this year from less than 1% in FY25.
What’s Driving MyGate’s Growth?
In FY25, MyGate continued to double down on its high-margin advertising vertical, monetising its dense network of gated communities through a mix of in-app inventory and on-ground campaigns.
The platform’s hyperlocal targeting — down to the postal code level — allows brands to reach 100-200 apartment complexes within a 10 km radius, making it especially lucrative for premium and neighbourhood businesses that are on the lookout for an affluent clientele.
As of now, MyGate earns around 65-70% of its total income now comes from brands advertising on its app. The startup built its own in-house ad platform, which allows brands to run highly targeted campaigns.
Advertisers can choose to reach users in specific cities, select individual housing societies, or even narrow it down to particular homes, depending on their objectives and budgets.
Kumar said this model has evolved in response to market realities. While MyGate’s core product is a SaaS platform used by nearly 5 Mn homes, many housing societies are reluctant to pay the full subscription fee.
To ensure adoption and scale, the startup offers gated communities a low-cost subscription plan or, in some cases, even a complimentary model. It then monetises this large user base via advertising, creating what Kumar described as a “win-win” setup.
The remaining 30-35% of revenue comes from SaaS subscriptions paid by residential communities and newer offerings such as smart home hardware.
For context, MyGate entered the smart lock segment in October 2024. Given the nascency of the business, Kumar believes that the hardware business is still at an early stage. While it is expected to contribute 7-9% of revenue in FY26, he added that advertising and SaaS are likely to grow faster than hardware in the near term.
Notably, the smart lock category is competitive, with players such as Godrej, Yale, Urban Company and other brands already in the market.
Mygate’s locks, per Kumar, are manufactured in China, “similar to many other brands in the segment”. He said it controls product design and quality checks, while user data is stored in India on AWS infrastructure.
In the fiscal year under review, MyGate also integrated with ecommerce and quick commerce platforms to help reduce waiting time for delivery partners at society gates. These integrations aim to save time taken per delivery by streamlining entry processes.
Moving forward, MyGate’s focus will remain on deepening features rather than entering new verticals immediately.
Total expenses rose 36% to ₹202.1 Cr in FY25 from ₹148.9 Cr in the previous year.
Employee Benefit Expenses: The startup’s expenses in this category increased 18.7% to ₹97.2 Cr, from ₹81.9 Cr reported in the year ago period.
Advertising Expenses: Advertising expenses for the period under review stood at ₹12.3 Cr, up almost 3X from ₹4.2 Cr in previous fiscal.
IT Expenses: Its IT Expenses in FY25 stood at ₹15.9 Cr, up 15.2% from ₹13.8 Cr in FY25.
Editor’s Note: The story has been edited to change EBITDA numbers.
Unlock special offers and join 10,000+ founders, investors & operators staying ahead in India’s startup economy.
Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the
hottest startup deals, supercharge your innovation projects, and stay updated with expert
curation.
Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn
to validate ideas, acquire customers, secure funding, and navigate the journey to startup
success.
Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence,
understand market landscapes, and decode emerging trends to make informed decisions.
Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful
investors, and keep track of upcoming funds, accelerators, and more.
Join a community of 10,000+ leaders & operators – unlock unlimited access to Inc42 stories,
videos, deals, member-only perks, and more.
Unlock unlimited access to 500+ monthly new stories and Inc42’s complete archive of
40,000+ stories.
Unlock unlimited access to 500+ monthly new stories and Inc42’s complete archive of
40,000+ stories.
Over $250,000 worth deals on software & tools to help your business scale up.
Network with industry leaders & operators with exclusive invites to Inc42’s
member-only virtual events
Enjoy an ad-free and clutter-free
experience as a member, focus on
what really matters to you
Your contribution will go on to
support and empower our unbiased
& data-driven journalism
Join 1000's of entrepreneurs, business leaders & makers and stay ahead with our sharp,
incisive & data-driven analysis on India’s tech and startup economy!
Unlock personalised stories, ad-lite reading, and exclusive newsletters on Inc42.
Tired Of Playing Catchup On Indian Tech?
Stay Ahead. Every Morning at 8
Get The Week’s Most Consequential Developments.
Inc42 In-Depth is your daily 9 PM newsletter with sharp insights from India’s startup economy.
Inc42 Moneyball is your Thursday newsletter on India’s venture capital trends. 4 PM sharp.
Inc42 Markets is your weekly newsletter on tech IPOs & startup stocks. Every Sunday
get access to a list of 200+ family offices betting big on startups
Get access to a list of Alma Mater Of India's Unicorn & Soonicorn Founders
INDIA'S #1 STARTUP INTELLIGENCE PLATFORM
Login or create a free account to continue reading in private mode.
AI Description
MyGate, a financial technology company, has significantly reduced its net loss for FY25. The company reported a 61% decrease in losses, highlighting a positive financial adjustment.