Xoxoday’s revenue crosses Rs 800 Cr in FY23; losses spike 7X
                     Xoxoday’s revenue crosses Rs 
800 Cr in FY23; losses spike 7X
Introduction
• Fintech startup XoXoday has reported a slower growth in FY23 as compared to a 2.5X jump in its collections during 
FY22. 
• Significantly, the company’s losses ballooned about seven-fold in the last fiscal year on the back of increased employee 
benefit and advertising costs.
Xoxoday Financial FY23
•  Xoxoday’s revenue from operations grew 20% to Rs 816 crore in FY23 from Rs 680 crore in FY22, its annual 
financial statements filed with the Registrar of Companies- as per Entrackr report.
Xoxoday Revenue Breakdown
• Revenue from the sale of different kinds of vouchers constituted 97% of the total collections which grew 18.4% to Rs 
791 crore in FY23 from Rs 668 crore in FY22. 
• The rest of the income came from commissions and other operating activities. 
Xoxoday Expense Breakdown
• As the expense growth outpaced its revenue , Xoxoday’ losses spiked 6.8X to Rs 62 crore in FY23 from Rs 9 crore 
in FY22.
Xoxoday FY22-FY23
• Ist ROCE and EBITDA margin stood at -90% and -6% respectively. 
• On a unit level, it spent Rs 1.08 to earn a rupee in the fiscal year ending March 2023.
• While the spike in losses might be a little worrying, at this stage, they will be nothing more than a distraction for the firm as 
it seeks a strong footing in the market.
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