Overview
- Revenue rose 97% to $48.4 million for the six months ended June 30, driven by OSN+ integration and $43 million in subscription income.
- Paid subscribers doubled to 3.54 million, with total registered users exceeding 120 million across the region.
- The company reported a $37.1 million loss due to subscriber acquisition spending and integration costs tied to the combined platform.
- Distribution reach expanded via OSN+ partnerships with Noon and PlayStation during the period and a Talabat deal announced afterward.
- Shares jumped about 49.8% after-hours following the SEC filing of unaudited H1 results and moved higher Wednesday morning as management forecast continued H2 revenue growth with near-term profitability pressure.