PropertyGuru SPAC Presentation Deck
Singapore Marketplace: Recurring Revenue with Growing Yield
■ Singapore agent business has maintained strong growth momentum, driven by network effect
Despite COVID-19, renewal rate has recovered and outperformed management forecast
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Average Revenue per Agent(¹)
(US$ p.a.)
Since 2016, strong ARPA
growth has been driven by
two price increases in 2017
and 2019
CY16A
CY17A
CY18A
Note: USDSGD FX rate of 1:1.327
(1)
ARPA is defined as agent revenue divided by number of agent customers
Lower discretionary spend
in 2020 due to COVID-19
2.1k
CY19A
2.2k
CY20A
Renewal Rate vs. Pre-COVID Plan
(%)
68%
66%
While renewal rate under-performed budget
during COVID-19 lockdown, since lifting of
lockdown restrictions, renewal rate is
significantly outperforming by 600-700bps
COVID miss
65%
69%
Mar-20 Apr-20
71%
69%
May-20
77%
70%
80%
70%
81%
Actual Renewal Rate
75%
82%
78%
86%
Pre-COVID Plan
78%
82%
79%
84%
Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20
79%View entire presentation