The following is a summary of the PropertyGuru Group Limited (PGRU) Q1 2024 Earnings Call Transcript:

Financial Performance:

• PropertyGuru reported a solid 12% increase in revenue in Q1 2024, bringing the total to $37 million.

• Adjusted EBITDA margin saw a substantial growth of 12%, from less than 1% in Q1 2023.

• Singapore remains a robust market with a 25% hike in revenue to $24 million and an impressive 79% adjusted EBITDA margin.

• Malaysia and Vietnam revenues were stagnant, maintaining at $7 million and $3 million respectively.

Business Progress:

• Promising recovery noted in Vietnam and Malaysia with strong performance maintained in Singapore.

• PropertyGuru integrates AI and machine learning into product development, such as the auto-creation of videos from listing images and descriptions.

• The company is committed to enhancing marketplace trust and transparency, as seen through the launch of the professional agent verification in Vietnam.

• In line with its sustainability mandate, PropertyGuru released its first sustainability report.

• The company signals positivity in its growth prospects due to its focus on innovative technologies and strategic investments. With efforts to streamline go-to-market strategies and increased investment in marketing and people, PropertyGuru is well-positioned for future growth opportunities.

More details: PropertyGuru IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.