Healthify slashes net loss by 38% in FY24 as both revenue, employee costs drop

Healthify, an AI-powered health and fitness app, reduced its net loss by 38% to ₹88 crore in FY24, down from ₹142 crore in FY23. The company’s revenue dropped by 9% to ₹206.3 crore, while total expenses decreased by 20% to ₹295 crore. The reduction in expenses was largely due to a 27% decline in employee costs, following the layoff of 150 employees, or 27% of its workforce. Healthify also raised $45 million in a recent funding round led by Khosla Ventures and LeapFrog Investments. The company plans to expand its services in the US market and has integrated AI with human coaches to improve health outcomes. Healthify’s platform, which serves 40 million users across 300+ cities, aims to achieve EBITDA profitability in the near future.