Glance crosses Rs 600 Cr revenue in FY24 with improved economics

Glance, a consumer technology company, reported a 3.4X growth in revenue from Rs 178 crore in FY22 to Rs 614 crore in FY24. The company’s revenue from operations grew 89% year-on-year to Rs 614 crore in FY24. Glance, part of InMobi’s ecosystem, is known for its AI-powered smart lock screen platform. Advertising services contributed 54.7% of total revenue, growing by 35.7% to Rs 336 crore in FY24. The company also earned Rs 15.9 crore from financial income, bringing the overall revenue to Rs 640 crore. Employee benefits were the largest cost driver, accounting for 28.28% of total expenses. Glance reduced its losses by 15% to Rs 929 crore in FY24. The company has raised around $390 million and was valued at $1.6 billion in its last funding round. Its current assets stood at Rs 428 crore, with an enterprise value to revenue multiple of 21.8X.