10 year old Josh Talks posts Rs 19 Cr revenue in FY24, cuts losses by 25%

Hailed as the desi TED Talks, Josh Talks has showcased hundreds of inspiring individuals from various fields and regions. However, the company has encountered challenges in scaling its revenue, as reflected by a modest 2.2% growth in FY24 compared to FY23. This indicates the company's struggles in establishing a strong monetization roadmap.

Josh Talks’ operating revenue grew to Rs 18.7 crore  in FY24 from Rs 18.3 crore in FY23, its standalone financial statements with the RoC show.

Revenue from services such as partnerships, sponsorships and events were the sole sources of operating income for Josh Talks. Additionally, it earned Rs 65 lakhs via interest on fixed deposits and income tax refunds, bringing the total income to Rs 19.37 crore in FY24.

For the uninitiated, Josh Talks is a platform that shares inspiring stories from people who have overcome challenges to succeed in various fields. The Gurugram-based firm aims to empower audiences through real-life narratives that motivate and encourage them to pursue their dreams.

The 10-year-old platform also offers language, skills development, exam preparation and brand partnership opportunities.

Expense Breakdown

FY23

Total ₹32 Cr

FY24

Total ₹29.3 Cr

• Employee benefit expense

• Depreciation

• IT Expense

• Legal professional Charge

• Advertising expense

• Other Expense

To check complete Expense Breakdown visit thekredible.comView full data

When analyzing the expenses, employee benefit costs accounted for 47.5% of the total expenses, increasing by 2.7% to Rs 14 crore in FY24. Advertising and promotional expenses contributed 12.48% to the total, but decreased by 18%, falling to Rs 3.65 crore in FY24. Additionally, legal and professional fees saw a 7.3% reduction, dropping to Rs 3.68 crore in the last fiscal year.

Depreciation, IT expenses, and other miscellaneous costs contributed to a total expense of Rs 29.3 crore in the fiscal year ending March 2024, representing an 8.7% decrease from Rs 32 crore in FY23.

Due to the reduction in expenses, Josh Talks was able to reduce its losses by 25%, bringing them down to Rs 9.88 crore in FY24. The company’s return on capital employed (ROCE) stood at -100.41%, while its EBITDA margin was -41.4%. On a per-unit basis, Josh Talks spent Rs 1.56 to generate a rupee of operating income in FY24.

FY23-FY24

	FY23	FY24
EBITDA Margin	-63.08%	-41.40%
Expense/₹ of Op Revenue	₹2.12	₹1.56
ROCE	-74.20%	-100.41%

Josh Talks raised its maiden funding of $1.5 million in February 2020, followed by another $3.2 million in May 2022. According to startup data intelligence platform TheKredible, the company’s co-founders, Supriya Paul and Shobhit Banga, each hold a 32.75% stake in the company. Ankur Capital is the largest external stakeholder, followed by the Michael & Susan Dell Foundation.

In the age of influencers, it's tough being a platform for ‘inspiring’ content. Not that a pure play content play has ever been easy. Confronted with  these twin challenges, Josh Talks is clearly struggling to translate inspiration to its balance sheet. The move into teaching English skills or even UPSC prep are struggling simply because, one suspects these ideas do not ‘inspire’ the founders. It is tough to see the firm break free of its self imposed limitations and turn into a firm that will actually build a long term legacy built on a strong business model. The answer might lie in seeking a non business model.