Perfora’s FY24 Revenue Zooms 180% YoY To INR 42 Cr

SUMMARY

Despite strong top line growth, the D2C oral care startup’s consolidated net loss surged over 2X YoY to INR 10.7 Cr during the year

Total expenses shot up 167% to INR 54 Cr in FY24 from INR 20.2 Cr in the previous fiscal year

Founded in 2021, Perfora sells electric toothbrushes, alcohol-free mouthwash, and smart water flossers, among others

Direct-to-consumer (D2C) oral care startup Perfora’s operating revenue skyrocketed 180% to INR 42.2 Cr in the financial year 2023-24 from INR 15.1 Cr in the previous fiscal year amid rising demand for electric toothbrushes and other oral care products.

Founded in 2021 by Tushar Khurana and Jatan Bawa, Perfora is a digital-first dental and oral care brand. Its portfolio of products includes electric toothbrushes, alcohol-free mouthwash, smart water flossers, and peroxide-free teeth whitening pens, among others.

The Delhi NCR-based startup rose to fame after appearing on Shark Tank India, where it bagged a check of INR 80 Lakh at a valuation of INR 32 Cr.

In November last year, Inc42 exclusively reported that Perfora raised INR 39.8 Cr (about $4.7 Mn) in a funding round led by RPSG Capital Ventures. Overall, the startup has raised $8.7 Mn in funding to date.

Perfora competes against the likes of Patanjali, Biotique, Colgate, among others.

Including other income of INR 1.1 Cr, Perfora’s total revenue stood at INR 43.3 Cr during the year ended March 2024. The company earned almost all of its revenue from the sale of products in the domestic market.

Despite strong growth in the top line, the startup’s consolidated net loss more than doubled to INR 10.7 Cr in FY24 from INR 4.9 Cr in the previous fiscal year due to a surge in expenses.

The company reported an EBITDA loss of INR 10.2 Cr while its EBITDA margin stood at -24% during the year.

At the end of FY24, Perfora held assets worth INR 24.2 Cr, including cash and cash equivalents to the tune of INR 9.6 Cr.

Where Did Perfora Spend In FY24?

Amid a surge in sales, the D2C oral care startup’s overall expenses ballooned 167% to INR 54 Cr during the year under review from INR 20.2 Cr in the previous fiscal year.

Ad Expense: This was the biggest expense head for the oral care startup. The oral care startup spent INR 20.5 Cr on advertisement and business promotion expenses during the under review, a nearly 3X jump from INR 7 Cr in FY23.

Procurement Cost: The spending under this head shot up over 2X to INR 19.6 Cr in FY24 from INR 9.7 Cr in the previous fiscal year.

Employee Cost: Perfora spent INR 3.7 Cr towards employee benefit expenses in the financial year 2023-24, almost 3X higher than INR 1.3 Cr spent in this bracket in FY23.