Flipspaces, led by Kunal Sharma, reaches an EBITDA profitability milestone, highlighting efficiency and profitability. The enterprise has seen strong revenue development in India and the United States, indicating a substantial achievement in the interior design-tech market.
Flipspaces, an interior design technology company, recently revealed that it is now profitable in terms of overall EBITDA. According to the company’s leadership, this marks a key milestone for the new-age interior-design-tech firm, which aims to become a global one-stop shop for commercial design and build. It is one of the first enterprises to achieve this in the area of sponsored new-age startups focused on tech-enabled interior design.
The venture has had substantial revenue growth over the pandemic years, and the growth rate has improved with the return-to-work drive during the previous year, with the trend likely to continue. It is reflected in the audited results and fiscal year 24 predictions.
India has risen at a CAGR of 63% during the last three years, while the United States has grown at a spectacular 300% CAGR during the same period, resulting in an overall CAGR of 83%.
According to the Economic Times, Kunal Sharma, the Founder and CEO of Flipspaces, stated, “After our last fundraise, we were focused on driving efficiency at every level in order to achieve the milestone of becoming profitable at an overall EBITDA level while maintaining a high growth trajectory.” For us, growth and profitability were never a “this versus that” situation. It is a significant achievement that was made possible by economies of scale, technologically driven margin expansion, and the operating leverage gained by our presence in India and the United States.
“We grew our business by roughly 2X in both India and the United States this fiscal year while also reaching profitability, which was a difficult undertaking. Among other variables, we were able to achieve it by building a leadership culture that truly believes in and celebrates profitability and sustenance,” Kunal adds.
According to Ankur Muchhal, Co-Founder and COO of Flipspaces, “Flipspaces is the only venture in the category that has an active base in the US with a fully operational presence and an office in New York.” We are now EBITDA profitable in the United States, and we plan to expand from there., as reported by the Economic Times.
According to the corporation, the US has expanded by around 2X YoY over the last four years, and its contribution to overall income has increased from 8.59% to 23.68% for the venture during the same period. This also improves the blended margin of the firm because the US has a higher margin profile.”
Vikash Anand, Co-Founder and Partner at Flipspaces, notes, “Our lucrative scale has also been boosted by our ability to empanel large-size mandates with Legacy MNCs and corporates. While the vast SME category (65 million in India and the United States) has been the traditional Flipspaces Customer Persona for Commercial Design and Build Mandates, we are now consistently getting large and super-large mandates due to our extensive body of work and technological difference.
Flipspaces recently won and completed a 1 lakh square foot office space for a famous BFSI in 100 days, setting a new standard for execution speed, which is another significant differentiator in this category. It is in the midst of empaneling multiple such large-scale mandates, making a dent in the final commercial category distinguished by its technology and methodology.
