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Ohmyhome Limited (OMH)
NASDAQ:OMH
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Ohmyhome Limited
(NASDAQ:OMH)
Rating:42Neutral
Price Target:
$2.50
▲(68.92%Upside)
Positive Factors
Financial Performance
Ohmyhome reported 2H24 results, beating estimates on revenue and adjusted EBITDA on strong gross margin expansion.
Growth Momentum
Revenue increased by 126% year-over-year, indicating strong growth momentum.
Negative Factors
Acquisition Uncertainty
There is uncertainty regarding the acquisition in the Philippines, particularly concerning potential losses.
Dilution Concerns
Recent capital raises were significantly dilutive, impacting existing shareholders negatively.
Ohmyhome Limited (OMH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$34.19M
Dividend YieldN/A
Average Volume (3M)3.72M
Price to Earnings (P/E)―
Beta (1Y)-0.66
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees108
SectorReal Estate
Sector Strength55
IndustryReal Estate - Services
Share Statistics
EPS (TTM)-0.51
Shares Outstanding23,101,131
10 Day Avg. Volume152,542
30 Day Avg. Volume3,715,791
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)2.51
Price to Sales (P/S)0.00
P/FCF Ratio-1.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$32.80Price Target Upside2116.22% Upside
Rating ConsensusHold
Number of Analyst Covering1
Ohmyhome Limited Business Overview & Revenue Model
Company DescriptionOhmyhome Limited (OMH) is a technology-driven property platform that simplifies the real estate transaction process. The company operates primarily in the PropTech sector, providing comprehensive real estate services, including property listings, agent services, and mortgage advisory. Its core offerings are aimed at enhancing the buying, selling, and renting experiences for property owners and seekers through a user-friendly digital platform.
How the Company Makes MoneyOhmyhome Limited generates revenue through a variety of channels centered around real estate transactions. Key revenue streams include service fees from property sellers and landlords for listing properties on its platform, and commissions from successful property sales and rentals facilitated by its agents. Additionally, the company earns from ancillary services such as mortgage advisory and legal services, which are integrated into its platform to offer a seamless experience to its customers. Ohmyhome also partners with various financial institutions to offer mortgage solutions, which further contributes to its earnings.
Ohmyhome Limited Earnings Call Summary
Earnings Call Date:Apr 29, 2025
(Q3-2024)
| % Change Since: -27.09%|
Next Earnings Date:Oct 07, 2025
Earnings Call Sentiment Positive
OMH demonstrated robust growth in revenue, cash balance, and business expansion, particularly in the property management and renovation sectors. The company shows promise with its innovative technology and improved market presence. However, ongoing operating losses and high expenses present challenges, alongside a lower market valuation compared to peers.Q3-2024 Updates
Positive Updates
Significant Revenue Growth
OMH reported a 106% revenue growth from SGD 2.17 million to SGD 4.47 million in the first half of 2023, with improved gross margins across all business segments.
Increase in Cash Balance
OMH's cash balance increased to $22.1 million as of September 30, 2024, from $1.8 million in June, attributed to increased deal closures and cost optimization initiatives.
Property Management Expansion
The number of units under management grew from 6,700 to 9,283, marking a 38% year-over-year increase, contributing to a steady revenue stream.
High Growth in Renovation Contracts
Renovation contracts reached $2.43 million for the first nine months of 2024, close to 300% of the previous year's figures.
Increased Gross Transaction Value
Total property transaction GTV for the first nine months of 2024 increased by 51% compared to last year.
Improved Brokerage Services
Brokerage services saw a 32% increase in transaction numbers and a 51% increase in GTV for the first nine months of 2024.
Innovative Use of Technology
The launch of HomerAI contributed significantly to market awareness and improved customer conversion rates.
Negative Updates
Continued Operating Losses
OMH is still incurring losses, although the loss is narrowing due to ongoing investments in technology.
High Operating Expenses
Operating expenses remain high, partly due to recent acquisition activities and increased amortization expenses.
Low Market Valuation
OMH is trading at a low valuation multiple of 1.3x revenue, which is significantly lower than industry peers.
Company Guidance
During the Q3 2024 earnings call for Ohmyhome (NASDAQ: OMH) on October 29, CEO Rhonda Wong and Director of Finance Leo Li discussed the company's financial health and growth strategies. Notably, Ohmyhome achieved a 51% increase in gross transaction value, amounting to $212 million for the first nine months of 2024. The company also reported a 106% revenue growth for the first half of 2023, with revenues rising from SGD 2.17 million to SGD 4.47 million, and gross profit margins improving across all business segments. They highlighted the company's cash balance increase to $22.1 million as of September 30, 2024. The call emphasized the successful integration of AI technology, particularly HomerAI, to enhance user engagement and conversion efficiencies, and detailed the expansion of their property management business, which now manages over 9,283 units—a 38% year-over-year increase. Despite ongoing losses due to technology investments, Ohmyhome continues to focus on scaling its profitable business model and expanding its market presence.Ohmyhome Limited Financial Statement Overview
Summary
Ohmyhome Limited is experiencing strong revenue growth and has improved its equity position. However, persistent net losses and negative cash flows indicate challenges in achieving profitability and self-sustaining operations. While the balance sheet is strengthening, the reliance on external financing and historical negative equity raise concerns about long-term stability.Income Statement
Ohmyhome Limited has shown significant revenue growth, with a 117.5% increase from 2023 to 2024. However, the company remains unprofitable, with negative net profit margins (-39.8% in 2024) and EBIT margins (-40.3% in 2024). The gross profit margin is moderate at 40.4% for 2024, indicating a decent markup over costs. Overall, while revenue is growing, persistent losses and negative margins are concerning.45
Neutral
Balance Sheet
The balance sheet shows an improvement in equity, with stockholders' equity increasing to $6.8 million in 2024 from $4.5 million in 2023. The debt-to-equity ratio is relatively low at 0.11, suggesting low leverage. However, the company has a history of negative equity, raising concerns about historical financial stability. The equity ratio improved to 62.7% in 2024, indicating greater financial stability.50
Neutral
Cash Flow
Although free cash flow improved slightly, it remains negative at -$3.2 million in 2024. The operating cash flow to net income ratio is negative, indicating that the company is not generating sufficient cash flow to cover its net losses. The company has been reliant on financing activities, with significant cash inflows from financing in 2024, which may not be sustainable long-term.40
Negative
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 10.89M | 5.00M | 7.03M | 4.38M | 3.34M |
| Gross Profit | 4.41M | 1.72M | 2.32M | 2.39M | 1.37M |
| EBITDA | -3.32M | -5.00M | -2.71M | -1.60M | -1.74M |
| Net Income | -4.34M | -5.47M | -3.05M | -1.82M | -1.94M |
Balance Sheet | |||||
| Total Assets | 10.80M | 10.30M | 2.17M | 2.49M | 654.23K |
| Cash, Cash Equivalents and Short-Term Investments | 1.15M | 191.81K | 301.43K | 1.22M | 166.59K |
| Total Debt | 774.85K | 1.01M | 3.84M | 1.17M | 2.11M |
| Total Liabilities | 4.50M | 6.30M | 4.35M | 1.63M | 2.61M |
| Stockholders Equity | 6.77M | 4.45M | -1.78M | 1.25M | -1.65M |
Cash Flow | |||||
| Free Cash Flow | -3.24M | -5.64M | -3.12M | -1.85M | -1.62M |
| Operating Cash Flow | -3.02M | -4.85M | -3.11M | -1.81M | -1.60M |
| Investing Cash Flow | -1.28M | -4.53M | 855.40K | -913.04K | -23.74K |
| Financing Cash Flow | 5.12M | 9.35M | 1.31M | 3.77M | 1.42M |
Ohmyhome Limited Technical Analysis
Negative
1.48
Price Trends
2.03
Negative
2.37
Negative
3.20
Negative
Market Momentum
-0.16
Negative
45.89
Neutral
25.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OMH, the sentiment is Negative. The current price of 1.48 is above the 20-day moving average (MA) of 1.48, below the 50-day MA of 2.03, and below the 200-day MA of 3.20, indicating a neutral trend. The MACD of -0.16 indicates Negative momentum. The RSI at 45.89 is Neutral, neither overbought nor oversold. The STOCH value of 25.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OMH.
Ohmyhome Limited Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $328.69M | 19.03 | 2.01% | ― | -4.61% | ― | |
67 Neutral | $1.49B | ― | -6.44% | 2.10% | 6.69% | -137.52% | |
64 Neutral | $7.01B | 18.92 | -1.36% | 6.84% | 4.67% | -25.39% | |
57 Neutral | $39.16M | ― | -44.60% | ― | 5.80% | 30.19% | |
57 Neutral | $209.42M | ― | -23.11% | ― | 11.24% | 38.70% | |
55 Neutral | $1.43B | ― | 199.35% | ― | 5.11% | -29.67% | |
42 Neutral | $34.19M | ― | -122.89% | ― | ― | ― |
* Real Estate Sector Average
Performance Comparison
OMH
Ohmyhome Limited
1.48
-4.10
-73.48%
RMAX
Re/Max Holdings
8.25
0.00
0.00%
EXPI
eXp World Holdings
9.51
-1.57
-14.17%
RDFN
Redfin
11.19
4.79
74.84%
FTHM
Fathom Holdings
1.41
-0.29
-17.06%
DOUG
Douglas Elliman Inc.
2.36
1.23
108.85%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.