By Sayan Sen

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VerSe Innovation, the operator of Dailyhunt and Josh, cut its losses and reported an 88% jump in operating revenue in the fiscal year ended March 2025, as it eyes profitability in the second half of FY26.

Operating revenue rose to Rs 1,930 crore from Rs 1,029 crore a year earlier, according to audited results approved at the company’s annual general meeting. Total revenue climbed 64% to Rs 2,071 crore. Excluding acquisitions, operating revenue increased 33% to Rs 1,373 crore.

The Bengaluru-based company reduced its EBITDA burn by 20% to Rs 738 crore, narrowing its margin from negative 89% to negative 38%. EBITDA, or Earnings Before Interest, Taxes, Depreciation, and Amortisation, is a metric used to assess a company’s operational profitability.

Costs also fell: services as a share of revenue dropped to 77% from 112% in the previous fiscal, while other operating expenses declined to 61% from 77%.

“VerSe Innovation is approaching EBITDA positivity and expects to achieve group-level break-even and profitability in the second half of FY26,” the company said in a statement, citing product innovation, AI-powered automation, and “fiscal prudence” as the drivers.
The company’s growth plans hinge on NexVerse.ai, its adtech platform, along with a subscription push through Dailyhunt Premium. Other initiatives include Josh Audio Calling and VerSe Collab, a marketplace for creators. Strategic acquisitions, such as Magzter and ValueLeaf, are intended to expand premium content and enterprise engagement.

VerSe’s apps—backed by CPP Investments, Qatar Investment Authority, Carlyle Group and Goldman Sachs—reach more than 350 million users. “With a strong capital position, proven ability to scale platforms, and a relentless focus on AI-powered innovation, VerSe Innovation is positioned to lead India’s next digital growth wave,” the company said.

On May 30, a Bloomberg report had alleged that the social media unicorn, along with now-defunct Builder.ai, had faked income by billing each other for services in a practice known as roundtripping.

However, VerSe Innovation had denounced all allegations that the company faked business with Builder.ai, which filed for insolvency in May amid a series of financial and legal troubles.

At the time, Umang Bedi, Co-founder of VerSe Innovation, said these claims are “factually incorrect, baseless, defamatory, misleading, and without foundation.”

In a conversation with YourStory, Bedi showed emails between VerSe Innovation and Builder.ai, invoices sent between the parties, as well as plans floated on project management and issue tracking tool Jira regarding projects the companies were involved in.
(Edited by Suman Singh)