Oyo’s Widening Losses and Other Financial Takeaways From Its Latest Filing
Photo Credit: An example of an Oyo property. Oyo Rooms disclosed details about its financial performance as the hospitality company continues its breakneck expansion while piling up losses. Oyo Rooms
Skift Take
Oyo has disclosed a surge in losses in documents related to its $1.5 billion in new funding. The hospitality company claims it will turn profitable three years from now, yet Skift Research dug beneath the headlines to deliver analysis substantiated by Oyo's latest income statements.
Oyo Rooms disclosed fresh details about its financial performance as the hospitality company continues its breakneck expansion while experiencing a rapid acceleration of losses in the three months through June 2019, according to newly released financial documents.
The filings were related to Oyo's $1.5 billion in series F funding led by SoftBank Group. The information fills in some missing details that weren't available in October, when Skift Research published a definitive look into how Oyo operates.
In the year through March 2019, the India-based company stated it suffered a net loss of $332 million on revenue of $900 million. But the financial filings also revealed details on the company's accelerating losses, how operations in China account for approximately 40 percent of its
