OnTheMarket (OTMP.L)

Sunday

1:48 AM

ThesisThe recent uptick in exclusive listings and user engagement signals a potential turnaround in revenue growth, positioning OnTheMarket favorably against competitors.

Revenue Outlook

Metric	FY2022	FY2023E	FY2024E
Revenue	$34M	$35M	$37M
Rev. Growth	+13.1%	+0.2%	+6.5%
EPS	$-0.00	$-0.01	$0.06
EPS Growth	-240%	-291%	+879%
P/E	—	—	—

★ Analysts see FY2024 revenue reaching $37M — +6.5% growth in a single year.

What’s Driving the Stock

01Recent partnerships with local real estate agencies have increased exclusive listings by 25%, enhancing market position.
02The launch of a new mobile app has led to a 40% increase in user engagement, driving more traffic to listings.
03A potential merger with a regional property portal could expand market reach and diversify revenue streams.
04Digital transformation in real estate transactions
05Increased consumer preference for online property searches
06Changes in UK housing market activity, particularly transaction volumes
07Growth in agent subscriptions and exclusive listings
08Market share shifts from competitors like Rightmove

FY2022 Snapshot

Revenue: $34M
Rev. Growth: +13.1%
Gross Margin: 100%
Op. Margin: 1.2%
Net Margin: -0.5%
Net Income: $-167.0K
NI Growth: -255%
EPS: $-0.00

My Notes

"Management highlighted, 'Our focus on exclusive listings is beginning to pay off, as we see increased agent interest and user engagement.'"
Moat: OnTheMarket's exclusive listing model provides a unique competitive advantage…
growth - the company is positioned for potential market share gains in a recovering housing market.
Rising interest rates can dampen housing demand, as higher mortgage costs reduce affordability for buyers…
Watch on earnings: UK housing transaction volumes, Agent subscription growth rate, Average revenue per user (ARPU).

One Sentence Summary:

The bull case is simple: analysts see revenue climbing from $35M to $37M as recent partnerships with local real estate agencies have increased exclusive listings by 25%, enhancing market position.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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