PropertyGuru cuts net loss to $7.4m in Q3

In Q321, the proptech company's net loss was $9.6m.

PropTech company, PropertyGuru, cut its losses to $7.4m in Q322 from $9.6m in Q321 due to higher revenue and earnings.

In an announcement, the company said its revenue for Q322 clocked in at $34.6m, translating to a 47% YoY jump.

The company attributed its higher revenue to revenue increases across its marketplaces like Singapore (+28% YoY to $18.1m), Malaysia (+49% YoY to $6.5m), and Vietnam (+161% to $6.2m).

Meanwhile, the company also reported positive adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $5.7m from Q321's adjusted EBITDA loss of $1.5m.

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