Smytten cuts losses by 41% in FY25; revenue slips to Rs 111 Cr

Smytten, a product discovery and trial platform, improved its expense discipline and significantly narrowed losses, but the revenue decline highlights its continuing struggle to achieve sustainable growth in FY25.

The company’s revenue from operations declined 10.5% to Rs 111 crore in FY25 from Rs 124 crore in FY24, according to its provisional financial statement sourced from the Registrar of Companies (RoC).

Smytten derives its income largely from product trials and allied services for D2C and FMCG brands. The firm also generates ancillary revenues through brand promotions and partnerships. The company did not provide a revenue breakup in its provisional financial statements.

On the expense front, the cost of materials, the firm’s largest expense, declined 17% to Rs 58 crore in FY25 from Rs 70 crore in FY24. Employee benefit expenses fell 9% to Rs 20 crore, while details of other overheads, including marketing, tech, and operational costs, were not disclosed.

Overall, the company managed to reduce its total expenses by 21% to Rs 131 crore in FY25 from Rs 165 crore in FY24.

The sharper control on expenses helped Smytten cut its losses by 41% to Rs 23.5 crore, as compared to Rs 40 crore in FY25. Its ROCE and EBITDA margin stood at -76.92% and -16.92%, respectively. On a per-unit basis, the firm spent Rs 1.18 to earn a rupee of revenue in the last fiscal year.

As of March 2025, the Bengaluru-based company reported current assets worth Rs 67 crore including Rs 20 crore in cash and bank balances.

According to TheKredible, Smytten has raised a total of $22 million of funding till date, having Roots Ventures and Fireside Ventures as its lead investors. The company’s co-founders Siddhartha Nangia and Swagta Sarangi together own 39.32% of the company.