MyGate Trims FY25 Loss By 61% To ₹15.4 Cr

Community management and security startup MyGate managed to trim its net loss for the fiscal year FY25 by 61% to ₹15.4 Cr from ₹39.7 Cr loss incurred in the previous fiscal. The startup’s bottom line performance improved on the back of a sharp uptick in its operating revenue.

It reported an EBITDA loss of ₹3.9 Cr. Its EBITDA margin stood at -2%.

For the fiscal year under review, MyGate reported a 80% jump in operating revenue to ₹173.5 Cr from ₹96.2 Cr in FY24.

Cofounder and CEO Abhishek Kumar told Inc42 that the previous fiscal marked a shift for MyGate towards a sustainable growth path. He noted that the startup turned profitable on a PBT basis, reporting a PBT of ₹7.1 Cr.

For FY26, he expects revenue to grow 25-30% year-on-year. Kumar added that adjusted EBITDA margins are likely to cross 5% this year, compared to less than 1% in FY25.

What’s Driving MyGate’s Growth? 

In FY25, MyGate continued to double down on its high-margin advertising vertical, monetising its dense network of gated communities through a mix of in-app inventory and on-ground campaigns. 

The platform’s hyperlocal targeting — down to the postal code level — allows brands to reach 100-200 apartment complexes within a 10 km radius, making it especially lucrative for premium and neighbourhood businesses that are on the lookout for an affluent clientele. 

As of now, MyGate earns around 65-70% of its total income now comes from brands advertising on its app. The startup built its own in-house ad platform, which allows brands to run highly targeted campaigns. 

Advertisers can choose to reach users in specific cities, select individual housing societies, or even narrow it down to particular homes, depending on their objectives and budgets. 

Kumar said this model has evolved in response to market realities. While MyGate’s core product is a SaaS platform used by nearly 5 Mn homes, many housing societies are reluctant to pay the full subscription fee. 

To ensure adoption and scale, the startup offers gated communities a low-cost subscription plan or, in some cases, even a complimentary model. It then monetises this large user base via advertising, creating what Kumar described as a “win-win” setup.

The remaining 30-35% of revenue comes from SaaS subscriptions paid by residential communities and newer offerings such as smart home hardware. 

For context, MyGate entered the smart lock segment in October 2024. Given the nascency of the business, Kumar believes that the hardware business is still at an early stage. While it is expected to contribute 7-9% of revenue in FY26, he added that advertising and SaaS are likely to grow faster than hardware in the near term.

Notably, the smart lock category is competitive, with players such as Godrej, Yale, Urban Company and other brands already in the market. 

Mygate’s locks, per Kumar, are manufactured in China, “similar to many other brands in the segment”. He said it controls product design and quality checks, while user data is stored in India on AWS infrastructure.

In the fiscal year under review, MyGate also integrated with ecommerce and quick commerce platforms to help reduce waiting time for delivery partners at society gates. These integrations aim to save time taken per delivery by streamlining entry processes.

Moving forward, MyGate’s focus will remain on deepening features rather than entering new verticals immediately.

Other Major Expenses

Total expenses rose 36% to ₹202.1 Cr in FY25 from ₹148.9 Cr in the previous year.

Employee Benefit Expenses: The startup’s expenses in this category increased 18.7% to ₹97.2 Cr, from ₹81.9 Cr reported in the year ago period.

Advertising Expenses: Advertising expenses for the period under review stood at ₹12.3 Cr, up almost 3X from ₹4.2 Cr in previous fiscal. 

IT Expenses: Its IT Expenses in FY25 stood at ₹15.9 Cr, up 15.2% from ₹13.8 Cr in FY25.

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