GenieMode, a leading B2B cross-border e-commerce startup, has released its financial report for FY25, showing strong growth but continued losses. The company generated a gross revenue of ₹673 crore, a significant 21% increase from the previous fiscal year. However, it also reported a net loss of ₹51 crore, improving from the ₹78 crore loss recorded in FY24. These figures highlight a business that is expanding rapidly but still navigating the challenges of profitability.
Expanding Business with Strong Demand
Founded by Amit Sharma and Tanuj Gangwani, GenieMode specializes in connecting buyers with suppliers across industries such as furniture, home textiles, apparel, and accessories. The platform offers end-to-end support, from sample approvals to shipping and logistics. By streamlining the sourcing process, GenieMode has made it easier for businesses to purchase goods directly from manufacturers. The company has attracted substantial investment, raising $92 million from prominent investors including Info Edge, Tiger Global, and Multiples Equity, reflecting confidence in its growth potential and long-term vision.
Financial Performance and Cost Management
While revenue has grown, GenieMode continues to face high expenses, leading to a net loss. The company’s total expenses for FY25 stood at ₹731 crore, up from ₹641 crore in the previous year. Material costs made up a significant portion of expenses at ₹551 crore, while employee benefits decreased to ₹69 crore, a 13% reduction from FY24. The gross merchandise value (GMV) for FY25 was ₹657 crore, accounting for 98% of the company’s income. Despite the loss, the company has shown improvement by reducing some operational costs and increasing efficiency, signaling positive steps toward future profitability.
Stable Balance Sheet and Future Outlook
GenieMode’s balance sheet shows stability, with total assets valued at ₹690.5 crore and current assets at ₹544 crore. Cash and bank balances amounted to ₹42 crore, giving the company a healthy cushion for ongoing operations. This financial foundation provides GenieMode the ability to continue scaling its business, invest in technology and logistics, and expand its presence in the competitive B2B e-commerce sector. Investors are likely to view this stability as a positive indicator of long-term potential.
Key Takeaways and Strategic Path
GenieMode’s FY25 results underline a company in transition. Revenue growth outpaces losses, indicating strong market demand and effective business strategies. Expense management, especially in employee costs and material sourcing, is improving. Continued support from top investors reflects confidence in the company’s potential to achieve profitability in the coming years. While the startup is not yet profitable, its strong operational foundation, growing client base, and investor backing suggest that GenieMode is well-positioned to convert growth into sustainable profits over time.
GenieMode’s journey demonstrates that rapid expansion in the e-commerce space often comes with short-term losses, but careful planning, cost control, and innovation can pave the way for long-term success. The company remains a key player to watch in India’s B2B cross-border e-commerce market.