Ohmyhome Ltd
NASDAQ:OMH
Ohmyhome Ltd
Ohmyhome Ltd. develops a data and technology-driven property technology platform. The Company, through its subsidiaries, operates property platform that provides end-to-end property solutions and services for its customers, which comprises brokerage services and emerging and other services, such as home renovation and furnishing services, listing and research, mortgage referral, legal services and insurance referral services. Its platform appeals to and supports a growing online community and network of users looking to list and search for properties online, seeking information on their property transactions and other value-added services, through the property-related solutions and services offered on its platform. Its subsidiaries include Ohmyhome (BVI) Limited, Ohmyhome (S), Ohmyhome Renovation Pte. Ltd., Ohmyhome Insurance Pte. Ltd., Cora.Pro Pte. Ltd., Ganze Pte. Ltd., Ohmyhome Sdn. Bhd., and Ohmyhome Realtors Sdn. Bhd. The firm operate its Ohmyhome platform in Singapore and Malaysia.
Ohmyhome Ltd. develops a data and technology-driven property technology platform. The Company, through its subsidiaries, operates property platform that provides end-to-end property solutions and services for its customers, which comprises brokerage services and emerging and other services, such as home renovation and furnishing services, listing and research, mortgage referral, legal services and insurance referral services. Its platform appeals to and supports a growing online community and network of users looking to list and search for properties online, seeking information on their property transactions and other value-added services, through the property-related solutions and services offered on its platform. Its subsidiaries include Ohmyhome (BVI) Limited, Ohmyhome (S), Ohmyhome Renovation Pte. Ltd., Ohmyhome Insurance Pte. Ltd., Cora.Pro Pte. Ltd., Ganze Pte. Ltd., Ohmyhome Sdn. Bhd., and Ohmyhome Realtors Sdn. Bhd. The firm operate its Ohmyhome platform in Singapore and Malaysia.
High Growth: Ohmyhome reported strong growth in Q3 2024, with gross transaction value up 51% year-over-year and renovation contracts nearly tripling versus last year.
Profitability Focus: Losses have narrowed significantly due to increased deal flow, higher-margin business mix, and cost optimization measures implemented earlier in the year.
Cash Position: Cash balance rose sharply to $22.1 million as of September 30, 2024, up from $1.8 million in June, supported by increased transactions and tighter cost management.
AI & Technology: The HomerAI platform is driving user acquisition and higher conversion rates, with 20% of brokerage transactions now coming from HomerAI users.
Expansion in Property Management: Units under management grew 38% year-over-year to 9,283, providing recurring revenue and a larger customer base for cross-selling services.
Operating Efficiency: Cost optimization and a shift to higher-value projects, especially in renovation, are supporting improved margins and operating leverage.
Market Position: Management highlighted a low valuation multiple relative to peers and outlined a strategy to expand both within Singapore and internationally.
