Transcript of Earnings call conducted for the quarter and half year ended September 30, 2026.

November 11, 2026 BSE Ltd Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001 Scrip Code: 539682 Subject: Transcript of Earnings Conference Call for the quarter & half year ended September 30, 2026. Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations), please find enclosed herewith transcript of the conference call with the Analysts/Investors for the Q2 FY 2026-27 un-audited financial results of the Company conducted through digital means on Wednesday, November 04, 2026, at 4:00 PM (IST). Transcript is also available on the website of the Company at www.mobavenue.ai Kindly take the same on your record. Yours sincerely, For Mobavenue AI Tech Limited (Formerly known as Lucent Industries Limited) Kunal Kothari Chairman & Chief Operating Officer DIN: 07111105 Encl.: As Above Mobavenue AI Tech Limited Q2 and H1 FY27 Earnings Conference Call November 04, 2026 Moderator: Ladies and gentlemen, good day and welcome to Mobavenue AI Tech Limited, Q2 and H1 FY 2027 Earnings Conference Call hosted by Valorem Advisors. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing ‘*’ then ‘0’ on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Purvangi Jain from Valorem Advisors. Thank you and over to you, ma'am. Purvangi Jain: Thank you, and good evening, everyone. A very warm welcome to you all. My name is Purvangi Jain from Valorem Advisors. We represent the investors of Mobavenue AI Tech’s Limited… Moderator: Sorry to interrupt, ma'am. Purvangi ma'am, we are unable to hear you. Purvangi Jain: Am I audible? Hello. Moderator: Yes, ma'am. Please go ahead. Purvangi Jain: Yes. Hello. Thank you and good evening, everyone, and a very warm welcome to you all. My name is Purvangi Jain from Valorem Advisors. We represent the Investor Relations of Mobavenue, AI Tech Limited. On behalf of the company and Valorem Advisors, I would like to thank you all for participating in the Company's Earnings Conference Call for the 2nd Quarter and Half year ended on September 30, 2026. Before we begin, let me mention a short cautionary statement. Some of the statements made in today's earnings call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Such statements are based on Page 1 of 19 management's belief as well as assumptions made by and information currently available to the management. Audiences are cautioned not to place any influence on forward-looking statements in making any investments. The purpose of today's call is purely to educate and bring awareness about the company's fundamental business and the financial quarter under review. Now, let me introduce you to the management team joining us today. With us, Mr. Ishank Joshi. He is the Founder, Managing Director, and the Chief Executive Officer. We have Mr. Tejas Rathod. He is the Founder and CTO of the company. And we also have Mr. Vijay Basantani, Group CFO. Without any further delay, I will call Ishank Joshi to give his opening remarks. Thank you and over to you, sir. Ishank Joshi: Thanks, Purvangi. And I hope I am audible to everyone. Good evening, everyone. And before I begin, on behalf of the board and the entire Mobavenue team, I really would like to wish you and your families a very happy Diwali and a joyful festival season. May this festival period bring a lot of good health, happiness, and prosperity. I want to begin by sharing an overview of our business, some of the key strategic developments, and the progress we have made during this quarter, FY27. I have with me Vijay, our CFO, who will take you through the financial performance, while Tejas, our Founder and CTO, will provide you an update of our technology developments and the continued evolution of Mobavenue Neural Engine and our Technology Platforms. To start with, for those who may be joining our call for the first time, let me begin with the larger shift we are building for. The digital advertising is increasingly moving from buying media and impressions towards measurable business outcomes. And at the same time, AI is changing how audiences are understood, campaigns are planned, and decisions are made in real-time. We believe Mobavenue sits at the intersection of these two shifts, which is outcome- led consumer growth and AI-led decision-making. Mobavenue AI Tech Limited is an AI-native global ad tech and consumer growth platform that helps brands, enterprises, and media agencies connect with high-intent consumers and drive measurable outcomes across the consumer journey of a brand or an enterprise. Our platform brings together proprietary AI, data intelligence, and programmatic Page 2 of 19 advertising capabilities across mobile, web, video, connected TV, DOOH, and other digitally connected environments. At the core of our offering is our A3 framework, which we call Awareness, Acquisition, and Activation. Now through this platform framework, we help clients build awareness, acquire relevant customers, and re-engage with existing users. This positions Mobavenue as a full-funnel consumer growth platform focused on sustainable and measurable digital growth across the consumer lifecycle. Today, as we speak, we serve approximately 170 brands across 13 countries with expanding presence across India and international markets, including the UK, the US, Singapore, Southeast Asia, Latin America, and the Middle East. Our client base is also becoming increasingly diversified across Quick Commerce, BFSI, Fintech, Super Apps, which is a great phenomenon in Asia and some of the other markets, entertainment, travel, commerce, and some of the other digitally native and emerging businesses. Now, what differentiates Mobvenue is that we are not building a traditional media intermediary. We are building a technology-led, outcome-based consumer growth platform. Our proprietary technology, consumer intelligence, and real-time decisioning are designed to connect advertising spent more directly with measurable client outcomes. To give you a sense of the scale of our operations today, our platforms currently process approximately 1.4 billion signals every day. We reach to around 2.7 billion devices globally and make decisions in under 15 milliseconds. For us, these are not merely a technology metrics. They represent the infrastructure which is required to make better decisions and at scale in real time. Our asset-light operating model is another important part of this architecture. It allows us to scale across developed and emerging markets with limited incremental infrastructure investment, supporting our operating leverage as the business grows. Q2 FY27 was another quarter of profitable scale for Mobavenue. Our revenue grew by over 40% year-on-year, while both EBITDA and PAT grew faster than the revenue on year-on-year basis. Reflecting the operating leverage and the discipline in our platform-led asset-light model. Vijay will take you through the detailed financial performance shortly though. Page 3 of 19 Now, an important indicator of the quality of the growth is revenue per outcome, which improved by more than 10% year-on-year during the quarter. We review our RPO, which is revenue per outcome, as an important measure of how intelligence translates into economics as our models, signals, and optimizations improve over time. Our objective is not to simply deliver more outcomes, but increasingly higher value outcomes for our customers. Our client mix also reflects the strength of our direct relationships. Our direct clients contributed 64.7% of Q2 FY27 revenue, while the remaining 35.3% came t [Showing first 8,000 characters — download PDF for full document]