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Q3 FY26 Earnings Call
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Content Edit Audio Language Tracks Subtitles Images Quality Check Data Description Encode & Transcode Ad Breaks Scheduling Ingest & Sort Simplifies the Complexity of Media Operations Streaming OTT Platforms E-Commerce Social Media Gaming … Audience Targeting Content Targeting For Advertisers For DistributorsFor Content Providers Production Preparation Distribution Monetization Viewership Stream ing Unification Cloud Modernization M onetization & M arketplace Video on Demand LIVE Linear 2
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Enable content providers to enhance revenue through advertising and expanded content distribution Stands for Three Things Help television networks transition from legacy, hardware infrastructure to scalable, cloud-based systems Serve content providers to navigate the fragmented landscape of OTT distribution Streaming Unification Monetization & MarketplaceCloud Modernization 3
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AI Stack Glass-to-Glass CoverageKey Value Drivers 4 Intelligence Platform Open New Possibilities + + LLM Plurality Open Format Production Preparation Monetization Viewership Distribution Driving Media Efficiency with Intelligence, DeepTech & AI
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10% Media Operations on Cloud $3T Global Media & Entertainment Market $498B Global Broadcast and Streaming Market $16.9B AMAGI TAM1 $5.1B AMAGI SAM2 Massive Industry, Early Cloud Penetration 5 Evolving Trends High-Quality Streaming Shift from Cable to OTT AI and Hyper- Personalization Programmatic Advertising
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Content Providers Distributors Advertisers ContentProviders create morecontent Content Providerswant wider distribution Distributors w ant diverse contentselection ContentProviders and Distributors m ake m oney More Viewers More Reach More Content More Creation Advertisers want broad audience reach More Ad Revenue AI Powered Our Flywheel Momentum remains strong 6 ~800k Cumulative Hours (+64% Y/Y) More Content 9,264 Deliveries (+37% Y/Y) More Reach 408 Distributors (+31% Y/Y) More Viewers 12.9 Bn Monetized Impressions (+60% Y/Y) More Ad Revenues 1 2 3 4
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511 340 142 993 9M FY26 Driving Top-line Growth and Operating Leverage 7 330 404 Q3 FY25 Q3 FY26 +22% Revenue for Q3 & 9M FY26 (in ₹ Cr) 1,109 9M FY26 +30% 150 177 102 124 51 44303 346 Q3 FY25 Q3 FY26 Total Cost for Q3 & 9M FY26 (in ₹ Cr) Communication Costs Other Expenses Employee Costs +14% +17%
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Leading to Bottom-line Expansion 8 27 58 Q3 FY25 Q3 FY26 14.3% 8.2% +115% Adjusted EBITDA for Q3 & 9M FY26 (in ₹ Cr) 116 9M FY26 +1297% 8 31 Q3 FY25 Q3 FY26 +292% PAT for Q3 & 9M FY26 (in ₹ Cr) 37 9M FY26 +₹95 Cr 10.5% *PAT Margin (%)*Adjusted EBITDA Margin (%) 2.3% 7.7% 3.3%
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Supported by robust Cash flow generation 9 Total Cash & Investments ₹803.4 Cr Adj. EBITDA to FCF Walk 9M FY26 Cash Balance at the end of December 31, 2025, stood at ₹803.4 Cr, providing comfortable liquidity to support operations and investments Particulars (₹ Cr) FY25 (Audited) 9M FY26 (Unaudited) Q3 FY26 (Unaudited) Adjusted EBITDA 23 116 58 (+/-) Non-Cash/Operating Items -1 -2 4 (+/-) Working Capital Movement 54 -49 76 (-) Income tax paid -19 -18 -6 Operating Cash Flow (Underlying) 34 47 124 (+/-) One-Time Items (IPO & Buyback) -123 Operating Cash Flow (Reported) 34 -76 124 (+/-) Capex -4 -20 -6 Free Cash Flow 29 -96 118
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10 AI-Powered Industry Cloud for the New Video Economy