Transcript of the Investor/Analyst Earnings call held on Wednesday, November 04, 2026

Email: investor.relations@tracxn.com Ph: +91 90360 90116 Website: www.tracxn.com November 05, 2026 To, To, BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 543638 Scrip Code: TRACXN Sub: Submission of Transcript of the Investor/Analyst Earnings Call held on Wednesday, November 04, 2026 Dear Sir/Madam, This is in continuation to our letter dated November 04, 2026 wherein we had informed you regarding the video link of the earnings call with analysts/investors for the second quarter and half year ended September 30, 2026. In this regard, please find enclosed herewith the transcript of the said call. The transcript is also posted on the Company’s website i.e. https://cdn.tracxn.com/investor-relations/financials/Earnings_Call_Transcript_-_Q2_FY27_h kiDG4zEU7nRaGZ5sZe5T.pdf Kindly take the above said information on record. Thanking You. Yours faithfully, For Tracxn Technologies Limited Megha Tibrewal Company Secretary and Compliance Officer Membership No: A39158 Encl. A/a TRACXN TECHNOLOGIES LIMITED | CIN: L72200KA2012PLC065294 Registered Address: No. L-248, 2nd Floor, 17th Cross, Sector 6, HSR Layout, Bengaluru, Karnataka, 560102 Tracxn Technologies Limited Q2 FY27 - Earnings Conference Call Nov 04th, 2026 Management: Ms. Neha Singh, Chairperson and Managing Director Mr. Abhishek Goyal, Executive Director Mr. Prashant Chandra, Chief Financial Officer Host and Moderator: Mr. Sidharth Agrawal and Mr. Ashis Dash, Systematix Shares and Stocks (India) Ltd Tracxn Technologies Limited – Q2 FY27 Earnings Call Transcript 1 Moderator Good evening, ladies and gentlemen. Thanks for joining us today on the second-quarter FY27 earnings call of Tracxn Technologies Limited. First of all, I would like to extend our warmest wishes to all of you and your families for a very happy, safe and prosperous Diwali. On behalf of Systematix, Sidharth Agrawal and Ashis Dash would like to thank the management of Tracxn for giving us the opportunity to host this earnings call. Today on the call we have with us Ms. Neha Singh, co-founder, chairperson and managing director; Mr. Abhishek Goyal, co-founder, vice chairman and executive director; and Mr. Prashant Chandra, chief financial officer. I would now like to hand over the call to Neha to give her opening remarks and take us through the PPT, after which we will open it up for Q&A. Please use the raise-hand option to ask a question, or you can submit your questions in the Q&A box at the bottom of your screen. Thanks, and with that, over to you, Neha. Neha Thanks a lot, Sidharth. Hello everyone, and a very warm welcome to everyone joining us today. We’re here for the earnings call for the second quarter of financial year FY27. We’re excited to present our results. In terms of format, it will be similar to previous calls: a short presentation covering the key highlights - about 15 to 20 minutes - followed by a Q&A session. A quick recap of our business for those joining us for the first time: Tracxn is a data and software platform for the private markets. If you look at the parallel public markets, they have created multiple large data companies, many of them highly profitable and cash-rich. As private markets become larger and more important, they will also create similar platforms, and we are building a global platform in this space. Our customer base includes the investment industry - venture capital funds, private equity funds and investment banks - as well as the M&A and innovation teams of large Fortune 500 corporations. It’s also a global platform: nearly half of our revenue is international, and we have customers in over 50 countries. I’ll begin by summarising the financial performance for Q2 and H1 FY27. Revenue from operations in Q2 was 21.3 crore, a 1.1% increase on a QoQ basis. On profitability, EBITDA was negative 5.9 crore and PAT was negative 4.1 crore. Please note this also includes non-cash expenses, primarily the ESOP charge, and we’ll cover the adjusted view on the next slide. Deferred revenue at the end of Q2 FY27 was 38.1 crore, a 9% year-on-year increase. By segment, India revenue grew 6.9% on a QoQ basis, and international stood at 10 crore. Customer accounts grew by 13% to 2,419. Cash and cash equivalents stood at a healthy level of nearly 86 crore. On this slide we’ve provided more detailed as well as historical numbers for revenue and profitability, which you can go through for more details. Another metric we like to share is what portion of incremental revenue flows into the bottom line. In Q2 we did not see margin expansion because we are investing in growth. But historically, as Tracxn Technologies Limited – Q2 FY27 Earnings Call Transcript 2 soon as growth accelerates, margins improve quickly - we have converted as high as 80% of incremental revenue into incremental EBITDA. So once growth accelerates, we expect this pattern to repeat, driving non-linear EBITDA expansion. On the cost side, total expense for H1 FY27 was 52.7 crore. On the right-hand side we’ve given the key components, which are similar to what we’ve seen in previous quarters. The bulk of the cost - about 86% of total cost - is team cost, and our entire team is in-house; there is no outsourced or contract workforce. The second-largest item is cloud hosting cost, driven by the data processing and analytics work that we do, and the third is rent. A point worth noting is that we do not have a large paid-marketing expense line item, because we are able to use a lot of our data to generate organic traffic. Moving to volume growth: both customer accounts and users continue to grow at a healthy pace. We closed September 2026 at 2,419 accounts, a 13% year-on-year increase. The number of users reached 6,854, a 16% year-on-year increase. So we continue to acquire customers as well as penetrate within existing accounts. Moving to some of the other financial metrics: FCF for H1 FY27 was negative 6.1 crore, and cash and cash equivalents stood at nearly 86 crore. Deferred revenue stood at 38.1 crore at the end of Q2, up 9% year-on-year. Moving to more detail on the customer base, starting with the split by type. At the end of Q2, 49% of our accounts were from the investment industry - primarily private-market investors such as venture capital funds, private equity funds, investment banks, family offices, accelerators and incubators. 45% were corporates - primarily corporate development, M&A, innovation, strategy and sales teams, as well as consulting companies. The remainder were others, such as educational institutes and government agencies. So we continue to have a fairly healthy spread across the investment industry and corporates. This slide gives an expanded summary of the titles within the investment ecosystem and the corporates that we work with. This gives us a large addressable market to tap into. As you can see, we cut across a dozen distinct customer segments, which is why we have been able to build a specialised vertical team for each. This is a playbook we invest in, and we’ll cover it in the subsequent slides. In terms of geographical split, 48% of H1 FY27 revenue was from outside India. We have customers spanning over 50 countries, and our top five markets by customer accounts are India, US, UK, Singapore and Germany. A quick word on the broader market environment. Total dollars invested in the private markets are rising - global tech funding for 2026 is on track to become the highest in the decade, driven primarily by mega AI rounds. Deal volume, however, is at a 10-year low, both in India and internationally. Global late-stage funding also continues to see a year-on-year increase. On global M&A, the rebound is much stronger: 2026 continues with very good momentum, and the current run-rate suggests this year could become the second-highest year after the 2021 peak, both in terms [Showing first 8,000 characters — download PDF for full document]