Diagnostic startup Healthians reports Rs 45 crore loss in FY24, revenue up 8 pc

New Delhi, Nov 24 Diagnostic startup Healthians clocked Rs 45 crore loss in the financial year that ended March 31, 2024 (FY24), while registering a modest 8 per cent (year-on-year) growth.

Healthians’ revenue from operations stood at Rs 243 crore in FY24, from Rs 224 crore in FY23, as per its consolidated financials.

The Deepak Sahni-run diagnostic platform controlled spending on advertising and employee benefits last fiscal, helping the company achieve EBITDA breakeven.

The platform earned Rs 240.5 core from laboratories for pathological tests in FY24.

It allocated 40 per cent of its overall burn to employee benefits, which dropped to Rs 120 crore in FY24 against Rs 136 crore in FY23, read its financials. It spent Rs 1.23 to earn a rupee in FY24.

As per the data, the cost of material consumed, rent, Information technology, and other overheads took the overall expenditure to Rs 298 crore last fiscal.

As per startup data intelligence platform TheKredible, Healthians has secured around $80 million in funding to date, led by WestBridge Capital.

The platform earns 90 per cent of revenue from diagnostics services, and 10 per cent from the sales of supplements and other ancillary services, as per reports.

Healthians recently launched an AI-driven video analysis feature that helps users understand their health reports by providing clear explanations and insights into their test results. In April, Healthians launched WelliO, a personal health chatbot.

Healthians raised seed funding from Healthstart in 2015 and in the same year, cricketer Yuvraj Singh’s venture capital firm YouWeCan became the next investor.

In 2019, the platform raised funds up to $14 million, where $12 million were raised from Japan-based DG Incubation and DG Daiwa Ventures.

In 2022, Healthians announced to raise $54 million in a funding led by WestBridge Capital.

The startup offers at-home diagnostic services in more than 250 cities and claims to have conducted more than 10 crore tests to date.

According to Tracxn data, there are 131 clinical laboratory chain companies in the country.

Source: IANS