PropertyGuru posts 11.9% revenue growth in 1Q24

A boost in revenue from its Singapore market drove the growth.

PropertyGuru's revenue surged by 11.9% YoY to $37m in 1Q24, up from $33m in the previous year.

Breaking down by segment, revenue for marketplaces surged by 13% YoY to $35m, propelled by growth in the Singapore market.

Revenue from its Singapore marketplace increased 25% YoY to $24m, whilst its Malaysia and Vietnam marketplaces remained flat at $7m and $3m.

Meanwhile, its fintech & data services revenue declined 3% YoY to $1.3m from $1.4m in 1Q23.

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