Catcha Digital reports an annual profit of RM5.20m for FY2024, representing a 256% increase from FY2023

Catcha Digital Berhad (“Catcha Digital” or the “Company”) announces its financial results for the fourth quarter ended 31 Dec 2024 (“Q4 FY2024”).

For Q4 FY2024, the Company reported a record Profit After Tax and Minority Interest (“PATAMI”)  of RM1.80 million. This marks a significant increase compared to Q4 FY2023, where the Company reported PATAMI of RM0.10 million, achieving year-over-year growth of 1,669%. This brings the total PATAMI of the Company in FY2024 to RM5.20 million, marking a 255% increase from RM1.46 million in FY2023. 

“We are proud of the team for achieving such impressive profit growth amidst in the last quarter. This is a testament to the successful launch of innovative solutions in the previous quarter, such as augmented reality advertising and offline-to-online campaigns, allowing our advertisers to connect more effectively with their customers. We remained focused on achieving sustainable growth and earnings for our shareholders,” says Eric Tan, Chief Executive Officer of Catcha Digital.

 “We are pleased to have achieved this record profit quarter and for the year in our sixth quarter after exiting GN2 status in July 2023 and we strive to maintain this momentum. As we continue our mission to build a leading profitable digital group in Southeast Asia, we will pursue strategic partnerships, investments and acquisitions that are accretive to our earnings per share. The prospects for the business remain favourable and we look forward to executing on all the great opportunities which we will share with the market soon” says Patrick Grove, Chairman of Catcha Digital.

In Q4 2024, the Company announced 3 strategic acquisitions which are expected to contribute positively to Catcha Digital’s earnings in the future.

On 20 Dec 2024, Catcha Digital announced a 60% acquisition of Drive 2 Digital Sdn Bhd (“D2D”) for RM16.2 million. The payment, to be made in three tranches over 24 months, is contingent on D2D achieving a PAT of RM3.5 million in the first 12 months post-completion and RM4.2 million in the subsequent 12 months. This strategic acquisition marks Catcha Digital’s expansion into the automotive digital media sector, specifically in Chinese and Malay language automotive content. 

On 19 Dec 2024, Catcha Digital announced a 70% acquisition of Tastefully Malaysia Sdn Bhd for RM7.6 million in cash. The payment, tied to the profit after tax, will be made in 4 tranches over 36 months: RM0.5 million for 2024, RM1.1 million for the first 12 months after completion, RM1.4 million for the next 12 months, and RM1.6 million for the final 12 months. This acquisition supports Catcha Digital’s goal of expanding its integrated digital media business for omnichannel advertising solutions. 

On 28 Nov 2024, Catcha Digital announced a 51% acquisition of Nexible Solutions Sdn Bhd (“Nexible”) for RM11.3 million, which was completed on 22 Jan 2025. Nexible provides business-to-business software products to its customers. Its flagship product, OutPerform, is an artificial intelligence-powered sales automation software that enables clients to manage new leads and customer relationships.

The cash consideration will be paid in 4 tranches and is tied to the achievement of the profit after-tax guarantee (“PAT Guarantee”) over the period of 36 months, broken down into PAT Guarantee of RM0.7 million, RM1.2 million, RM2.2 million and RM3.3 million for the 12-month period ended 31 Dec 2024, 31 December 2025, 31 December 2026 and 31 December 2027 respectively.

This strategic acquisition marks Catcha Digital’s expansion into the IT sector, specifically in software-as-a-service (SaaS) and artificial intelligence (AI) solutions.