Tracxn Technologies Ltd. · NSE:TRACXN
Tracxn Technologies — Q2 FY26 Earnings Presentation
54 slides from Tracxn Technologies's earnings presentation, November 2025
Slide 1: Q2 FY26 Investor Presentation
Private Market Intelligence Platform Q2 FY26 Investor Presentation Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.
Slide 2: Disclaimer
Disclaimer By attending this presentation including the commentary by the Company management This Presentation may contain, words or phrases that are forward-looking statements that and the transcript of the same, together (“Presentation”) and/or accepting a copy of it, involve risks and uncertainti
Slide 3: Tracxn Overview
Tracxn Overview Tracxn is a Data & Software platform for global Private Markets We work with Venture Capital Firms, Private Equity Firms, Investment Banks - as well as M&A & Innovation teams of large Corporates Global Platform, customers spanning 50+ countries 3
Slide 4: Q2 FY26 Financial Performance
Q2 FY26 Financial Performance 4
Slide 5: Q2 FY26: Financial Performance Summary
Q2 FY26: Financial Performance Summary Continued growth in Volume REVENUE PROFITABILITY OTHER Revenue from Operations EBITDA (EBITDA Margin) Customer Accounts (#) 21.2 Cr. -0.6 Cr. (-3%) 2,143 0.7% YoY 1.5 Cr.YoY 41% YoY 0.2% QoQ Total Income PAT1 (PAT Margin1) Deferred Revenue* 22.5 Cr. 0.5 Cr. (2%
Slide 6: H1 FY26: Financial Performance Summary
H1 FY26: Financial Performance Summary Continued growth in Volume REVENUE PROFITABILITY CASH OTHER Revenue from Operations EBITDA (EBITDA Margin) Free Cash Flow1 Customer Accounts (#) 42.4 Cr. -0.8 Cr. (-2%) 1.6 Cr. 2,143 1.2% YoY 2.0 Cr. YoY 6.8 Cr.YoY 41% YoY Total Income PAT3 (PAT Margin3) Cash &
Slide 7: H1 FY26: Revenue Growth
H1 FY26: Revenue Growth Revenue from Operations Total Income (in INR Cr.) (in INR Cr.) Historical Annual Historical Annual 1% 18% 1% CAGR 19% CAGR 7 Note: (*) Total Income excludes Fair value gain/ (loss) on CCPS for FY21
Slide 8: H1 FY26: PAT Positive
H1 FY26: PAT Positive EBITDA EBITDA Margin (in INR Cr.) Historical Annual Historical Annual Excluding non-cash ESOP expense this is 0.7 Cr. for H1FY26 PAT* PAT Margin* (in INR Cr.) Historical Annual Historical Annual Excluding non-cash items - ESOP exp. and deferred tax, this is 3.0 Cr. for H1FY26 8
Slide 9: Incremental Revenue going into Bottomline
Incremental Revenue going into Bottomline Historical Annual: H1FY26 FY 21 FY 22* FY 23* FY 24 FY 25 Revenue from operations 42.4 43.8 63.5 78.1 82.8 84.5 Incremental Revenue from Operations (Δ) +0.5 +6.4 +19.7 +14.7 +4.7 +1.7 EBITDA (0.8) (17.1) (1.9) 2.6 4.6 0.8 Incremental EBITDA (Δ) (2.0) +5.4 +1
Slide 10: H1 FY26: Expense Breakup
H1 FY26: Expense Breakup Total Expense (in INR Cr.) Total Expense - Breakup (for H1FY26) (in INR Cr.) % of Total Historical Annual H1FY26 Expense Employee Benefit Expenses 38.0 Cr. 87.8% 6% Salaries, Wages & Bonus 35.6 Cr. 82.3% Employee Stock Option Expense 1.5 Cr. 3.4% 8% CAGR Other Employee Benef
Slide 11: H1 FY26: Accelerated Volume Growth
H1 FY26: Accelerated Volume Growth Customer Accounts (#) Users (#) 41% 44% Historical Annual Historical Annual 21% 23% CAGR CAGR Continued growth in accounts and users 11 Note: Customer Accounts and Users are as on respective end of period.
Slide 12: H1 FY26: FCF and Cash & Cash Equiv.
H1 FY26: FCF and Cash & Cash Equiv. FCF (Free Cash Flow)1 Cash & Cash Equivalents1,2 (in INR Cr.) (in INR Cr.) Historical Annual 90.8 Cr. Net of buyback cash Added 5.7Cr. YoY out-go in H1FY26 6.8 Cr. 7% YoY Note: (1) Free Cash Flow and Cash & Cash equiv. excludes tax amounts received from employees
Slide 13: H1 FY26: Split by Customer Type
H1 FY26: Split by Customer Type Investment Industry 47% Corporates 49% (includes Corporate Innovation teams, Corporate (includes VC funds, PE funds, Investment Development / M&A teams, Strategy and Sales Banks, CVCs, Accelerators & Incubators, teams, Consulting firms, Startups, etc.) Family Offices,
Slide 14: Diverse Customer Base
Diverse Customer Base Customer segments & departments that we work with, within the key customer types Private Corp Dev / Corporate Equity M&A Teams Innovation Venture Investment Government Companies Capital Banking Agencies Family Digital Corporate Offices Transformation Strategy Accelerator Corpor
Slide 15: Global Customer Base
Global Customer Base 56% International revenue in H1FY26 Customers span over 50+ countries* Top 5 countries by #customer accounts*: India, USA, UK, Singapore, Germany International Revenue 56% Indian Revenue 15 Note: (*) Based on customer accounts as on end of period
Slide 16: Private Markets - Quick snapshot (1/2)
Private Markets - Quick snapshot (1/2) Global Tech Funding India Tech Funding (in USD Bn.) (in USD Bn.) GLOBAL TECH FUNDING: CY25 seeing improvement in global tech funding value # Unicorns created globally # Unicorns created in India LATE-STAGE FUNDING: (proxy # new unicorn rounds) CY25 run-rate sho
Slide 17: Private Markets - Quick snapshot (2/2)
Private Markets - Quick snapshot (2/2) Recovery in Global M&A deal value and IB fees Global M&A (in USD Tn.) GLOBAL M&A: Recovery in M&A value CY25 run-rate shows continued recovery M&A advisory fees (in USD Bn.) IB M&A ADVISORY FEES: CY25 run-rate shows continued recovery 17 Source: Report on Globa
Slide 18: Q2 FY26: Greenshoots (1/4)
Q2 FY26: Greenshoots (1/4) Continued high overall volume growth Customer Accounts (#) Customer Accounts - Net Addition Volume growth continues to be high FY23 FY24 FY25 18 Note:. Customer Accounts are as on respective end of period.
Slide 19: Q2 FY26: Greenshoots (2/4)
Q2 FY26: Greenshoots (2/4) Accelerated India Growth due to vertical BU teams India Geo - Q2FY26 Account & Revenue Growth ● India BU growth continues to be robust 44% Revenue from India ● In Q2FY26, # India accounts grew by 50% YoY and revenue grew by 16% YoY ● Primarily due to the growth initiatives
Slide 20: Q2 FY26: Greenshoots (3/4)
Q2 FY26: Greenshoots (3/4) Volume growth starting in international customer segments as well YoY Revenue Growth YoY Account Growth FY 24 FY 25 Q2FY26 FY 24 FY 25 Q2FY26 India 14% 18% 16% 20% 65% 50% International 2% -6% -11% -5% 26% 29% In India, the volume growth accelerated from 20% YoY in FY 24 t
Slide 21: Q2 FY26: Greenshoots (4/4)
Q2 FY26: Greenshoots (4/4) Deferred revenue continues to hold Deferred Revenue (in INR Cr.) Historical Annual 0% 18% CAGR Deferred revenue holds, with steady commitments. 21 Note: (*) Including proforma bills wherein invoice is to be raised after payment is received
Slide 22: Select Recent Growth Initiatives
Select Recent Growth Initiatives Additionally, we have been investing heavily across various growth initiatives spanning across sales, marketing and account expansion. Select initiatives where we are seeing good results and expect further acceleration are as follows: 1 India BU - Significant expansi
Slide 23: Select Recent Growth Initiatives
1 Select Recent Growth Initiatives India BU - Significant expansion undertaken in FY26 to augment datasets ● Revenue from India grew at 16% YoY in H1 FY26 ● Further, in H1 FY26, we have undertaken significant expansion in augmenting certain datasets particularly in revenue and financial data of priv
Slide 24: Select Recent Growth Initiatives
2 Select Recent Growth Initiatives International BU [Distribution partnership in North America] ● To increase distribution in international markets, we have signed a key partnership with TMX Datalinx, the information services division of TMX Group, which owns Canada’s largest stock exchange. Note: T
Slide 25: Scaling Organic Search Traffic and Tracxn Lite
3 Scaling Organic Search Traffic and Tracxn Lite Organic Search Traffic* #Tracxn Lite Signups1 (in millions) 3X Scaling Organic Traffic & Inbound Leads Pipeline ● Had launched Tracxn Lite over 1.5 years ago for PLG (Product-Led Growth) to make the customers aware of the richness of the platform and
Slide 26: Specialised Teams (1/5)
4 Specialised Teams (1/5) Universities ● Specialized team with cumulative experience of over 20 years in selling to universities. Bulk of our relevant customer segments come from top universities globally. More than a revenue segment, universities are a good marketing and discovery channel for us ●
Slide 27: Specialised Teams (2/5)
4 Specialised Teams (2/5) Startups Accelerators & Incubators ● We continue to see high volume of inbound leads from startups ● Focusing on customers across private incubators, ● Though they are served by the same platform, they government incubators, universities and corporates have a differentiated
Slide 28: Specialised Teams (3/5)
4 Specialised Teams (3/5) ● Specialised team for selling to IBs through both inbound & outbound Investment Banks ● Continue to enrich data for this customer segment by increasing coverage of relevant datasets such as coverage of private company financials, key ratios, VC & PE databases; and by launc
Slide 29: Specialised Teams (4/5)
4 Specialised Teams (4/5) ● Specialized team focussed on users from corporate sales, typically looking Corporate Sales to scout and analyze companies across sectors and geos for lead generation, market analysis, comps benchmarking, business development mandates, and more ● In addition to augmenting
Slide 30: Specialised Teams (5/5)
4 Specialised Teams (5/5) Seeing good results from the specialised teams List of launched vertical sales units Startups Universities Investment Banks Accelerator & Venture Capital Sales Incubators Funds Mergers & Debt Events Acquisition We expect further acceleration in pace of customer growth and m
Slide 31: Increased Regulatory Data Coverage (1/4)
5 Increased Regulatory Data Coverage (1/4) Increasing Coverage of Private Company Financials Currently cover private company financials across 20+ countries # Financials Covered Major countries by coverage ● India ● Norway ● South Korea ● United Kingdom ● Denmark ● New Zealand ● Croatia ● Czech Repu
Slide 32: Increased Regulatory Data Coverage (2/4)
5 Increased Regulatory Data Coverage (2/4) Increasing Coverage of Private Company Captables Currently cover private company captables across 15+ countries # Companies with Captables Major countries by coverage 8X ● India ● United States ● Canada ● United Kingdom ● Australia ● Israel ● Germany ● Mala
Slide 33: Increased Regulatory Data Coverage (3/4)
5 Increased Regulatory Data Coverage (3/4) Launched Legal Entities Database Currently covering ~65M legal entities across key geographies # Legal Entities (in millions) Major countries by coverage ● United States ● France ● United Kingdom ● Germany ● Japan ● Romania ● India ● Singapore ● Australia ●
Slide 34: Increased Regulatory Data Coverage (4/4)
5 Increased Regulatory Data Coverage (4/4) Building deeper coverage of Regulatory Data on private companies & legal entities Examples of a few regulatory datasets live and in pipeline: Loans and Charges Patent Data Legal Cases Related Party Trademarks Data Bankruptcy Filings Transactions FDA Approva
Slide 35: AI in Data Production
6 AI in Data Production We continue to harness GenAI in data production yielding significant and promising results. We have been able to multiply & augment our datasets while reducing manual intervention and even shrinking headcount, which is a strong testament to our use of automation and intellige
Slide 36: Press Mentions
7 Press Mentions Increased Press Mentions Through various media partnerships, data contributions, reports, etc. 2,000+ Press Mentions across media* eg. Report coverage eg. Partnerships eg. Regular Columns in newspapers eg. Others 36 Note: (*) in H1FY26
Slide 37: H1 FY26: Other KPIs
H1 FY26: Other KPIs Contract Price* Entities Profiled, on platform (in millions) (in INR Cr.) 49% Historical Annual Historical Annual 9% 15% 35% CAGR CAGR 37 Note: Entities Profiled are as on respective end of period (*) Including proforma bills wherein invoice is to be raised after payment is recei
Slide 38: Business Overview
OOOO EEE @Tracxn Business Overview 38
Slide 39: Our Journey
Our Journey Listed on 50+ Countries Ratan N Tata Current - Among the 2021-22 Leading global market intelligence - Became a publicly providers for private Sachin Bansal Binny Bansal NRJN Family Trust 2020-21 listed company on company data* 20th Oct 2022 - Crossed customers - One of the largest 2017-1
Slide 40: Significant cost advantages from India-based operations
Significant cost advantages from India-based operations Significant cost advantage due to Europe make-in-India. Especially: Asia N.America • Data-production & technology Middle East platform is built from India India • Global sales happens from Africa India (sales & support teams work across all tim
Slide 41: Experienced Promoters & Board of Directors
Experienced Promoters & Board of Directors Neha Singh Abhishek Goyal Brij Bhushan Chairperson and Managing Vice Chairman and Independent Director Director Executive Director ▪ B.Tech. & M.Tech. from IIT Bombay ▪ B.Tech. from IIT Kanpur ▪ B.Tech. from Maharshi Dayanand & MBA from Stanford Graduate Un
Slide 42: Supported by Senior Management Team Backed by Marquee Investors
Supported by Senior Management Team Backed by Marquee Investors Prashant Chandra Amit Agarwal Neeraj Chopra Bhaskar Sharma Chief Financial Officer Chief Operating Officer Chief Technology Officer Chief Product Officer ▪ B.Tech. from IIT Kanpur & MBA ▪ B.Tech. from MNNIT-Allahabad & ▪ MS from Univers
Slide 43: Large & Growing Market $40B+
Large & Growing Market Multiple large companies have been created in the financial data markets $40B+ Cumulative Revenue of Financial Market Data Companies for 2024* 43 Note: (*) Revenue of key public market data companies has been calculated based on the publicly available sources and internal esti
Slide 44: Robust Technology Platform
Robust Technology Platform Wide range of business and workflow tools – Scalable backend framework – based on open Inbuilt CRM tool, custom dashboard builder, tools for source technologies sourcing, tracking companies, portfolio tracking, API Automated – based on web crawling and data support, browse
Slide 45: Large & Growing Market
Large & Growing Market Private Market AUM Growth1 Public Market Capitalization2 (in USD trillion) (in USD trillion) 15% 6% CAGR CAGR Cumulative market capitalization of listed domestic companies across all the countries converted to USD Private market AUM expected to cross $15T by 2028 Note: (1) Acc
Slide 46: Q2 FY26 Detailed Financial Statements
Q2 FY26 Detailed Financial Statements 46
Slide 47: Profit & Loss Statement (1/2)
Profit & Loss Statement (1/2) Particulars Q2 FY26 Q1 FY26 Q2 FY25 H1 FY26 H1 FY25 FY25 Income Revenue from operations 21.25 21.20 21.39 42.45 41.93 84.47 Other income 0.01 0.16 0.04 0.17 0.20 0.28 Other gains/(losses) - net 1.23 1.52 1.37 2.76 2.62 5.62 Total Income 22.49 22.89 22.80 45.37 44.75 90.
Slide 48: Profit & Loss Statement (2/2)
Profit & Loss Statement (2/2) Particulars Q2 FY26 Q1 FY26 Q2 FY25 H1 FY26 H1 FY25 FY25 Profit / (loss) for the period (5.56) 1.12 (4.66) (4.44) (3.39) (9.54) Less: Other Income 0.01 0.16 0.04 0.17 0.20 0.28 Less: Other gains/(losses) - net 1.23 1.52 1.37 2.76 2.62 5.62 Add: Depreciation expense 0.04
Slide 49: Balance Sheet (1/2)
Balance Sheet (1/2) Particulars As at September 30, 2025 As at March 31, 2025 ASSETS Non-current assets Property, plant and equipment 0.31 0.20 Intangible assets - - Income tax assets (net) 5.21 6.23 Deferred Tax Asset - 5.67 Total non-current assets 5.52 12.10 Current assets Financial assets i. Inv
Slide 50: Balance Sheet (2/2)
Balance Sheet (2/2) Particulars As at September 30, 2025 As at March 31, 2025 EQUITY Equity share capital 10.64 10.65 Other equity Reserves and surplus 43.66 55.15 Total equity 54.30 65.80 LIABILITIES Non-current liabilities Employee benefit obligations 4.65 4.56 Contract liabilities 0.97 0.56 Defer
Slide 51: Cash Flow Statement (1/2)
Cash Flow Statement (1/2) Particulars Six month Ended 30 Sep'25 Six month Ended 30 Sep'24 Cash Flow from Operating Activities: Net profit/ (loss) before Income Tax 2.08 3.98 Adjustment for: Depreciation expense 0.07 0.04 Net (gain)/ loss on disposal of Property, plant and equipment 0.01 - Net gains
Slide 52: Cash Flow Statement (2/2)
Cash Flow Statement (2/2) Particulars Six month Ended 30 Sep'25 Six month Ended 30 Sep'24 Cash Flow from Investing Activities: Payments for purchase of property, plant and equipment (0.20) (0.08) Proceeds from sale of property, plant and equipment 0.01 - Funds invested in bank deposits 1.94 (0.06) P
Slide 53: Definitions
Definitions (1) Customer Accounts refers to the distinct contracts entered into by our Company with each customer, at the time of measurement. A customer account may include access for a single or multiple number of Users. (2) Users refers to the number of activated user accesses on the platform at
Slide 54: Thank You
Company Information Address : 2nd Floor, L-248, 17th Cross, Sector 6, HSR Layout, Bangalore - 560102 Thank You CIN : L72200KA2012PLC065294 Corporate Presentation: Link For any queries, please contact: Email ID : investor.relations@tracxn.com www.tracxn.com/investor-relations 54