PhonePe
Financial Performance
PhonePe Revenue & Financials
Revenue
~$918.7M (FY2026)
Employees
20,000
What is PhonePe's revenue?
PhonePe had ~$918.7M in revenue for fiscal year 2026, up 11.3% from 2025. It reported a net loss of ~$323.9M.
- Latest revenue
- ~$918.7M (FY2026)
- Year-over-year
- +11.3%
- Growth rate (CAGR)
- 39.6% over 3 years
- Peak revenue
- ~$918.7M (FY2026)
- Years of data
- 4
- Employees
- 20,000
- How much profit does PhonePe make?
- PhonePe reported a net loss of ~$323.9M for fiscal year 2026. moneycontrol.com
- How many employees does PhonePe have?
- PhonePe has about 20,000 employees.
Financial Analysis
PhonePe's revenue from operations grew from ~$338 million (₹2,914 crore) in FY23 to ~$587 million (₹5,064 crore) in FY24 and ~$825 million (₹7,115 crore) in FY25, a CAGR of about 56% according to its DRHP. Over the same period, its loss margin improved from about -91% to -23%. FY25 net loss was ~$200 million (₹1,727 crore), and the company reported positive free cash flow that year. Growth then slowed. FY26 revenue rose 11% to about $919 million (₹7,920 crore), and consolidated net loss widened 62% to ~$324 million (₹2,792 crore), according to MCA filings reported by Moneycontrol. ESOP charges tied to the IPO and losses at subsidiaries drove much of the wider loss, and PhonePe put its normalised FY26 loss at about $160 million (₹1,377 crore). PhonePe is India's absolute dominant digital payments and financial services platform, commanding a massive private market valuation of approximately $12 billion.
Revenue Trend Analysis
YoY Change
+11.3%
3-Year CAGR
+39.6%
Peak Year
2026
Trend
Consistent Growth
PhonePe has 4 full fiscal year figures on this page, compounding at +39.6% annually over 3 years. The most recent year saw a 11.3% increase versus the prior year. Annual revenue peaked in fiscal year 2026 at ~$918.7M. Of 3 comparable year-over-year steps, 3 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2026 | ~$918.7M | -~$323.9M | +11.3% | Moneycontrol, citing PhonePe MCA filings Consolidated revenue, fiscal year ended 31 March 2026. |
| FY2025 | ~$825.3M | -~$200.4M | +40.5% | PhonePe draft red herring prospectus Revenue from operations, fiscal year ended 31 March 2025, from the IPO filing. |
| FY2024 | ~$587.4M | -~$231.6M | +73.8% | PhonePe draft red herring prospectus Revenue from operations, fiscal year ended 31 March 2024. |
| FY2023 | ~$338.1M | — | — | PhonePe draft red herring prospectus Revenue from operations, fiscal year ended 31 March 2023. |
Click any row to see year details.
Keep researching PhonePe
PhonePe Revenue and Financial FAQ
What is PhonePe's annual revenue scale and growth trajectory?
PhonePe reported revenue of ~$825 million (₹7,115 crore) for fiscal year 2025, up from ~$587 million (₹5,064 crore) in fiscal 2024.
What is PhonePe's Total Payment Volume (TPV) run rate?
PhonePe processes an annualized Total Payment Volume (TPV) exceeding $1.5 trillion (over $1.45 trillion (₹125 lakh crore)) across more than 75 billion annual transactions, ranking as one of the largest payment processors in the world by transaction volume.
What is PhonePe's operating profitability (EBITDA excluding ESOP)?
PhonePe achieved operational profitability (positive Adjusted EBITDA before ESOP costs) in late 2023-2024, demonstrating that its core payments and device subscription business generates positive unit economics and cash flows.
How many registered users and merchant partners use PhonePe?
PhonePe has amassed over 700 million registered users (covering more than 1 in 3 Indian adults) and a nationwide merchant network of over 40 million merchant QR locations across 99% of India's postal pin codes.
How many SmartSpeaker devices has PhonePe deployed across India?
PhonePe has deployed over 7.0 million active SmartSpeaker devices and POS machines across Indian retail stores, neighborhood kirana shops, and commercial establishments, generating tens of millions of dollars in recurring monthly hardware subscription revenue.
What is the total capital funding raised by PhonePe and its valuation?
PhonePe has raised over $2.5 billion in equity funding, reaching a private valuation of $12.0 billion following its $850 million funding round in 2023 from General Atlantic, Walmart, and institutional sovereign investors.
What was the tax impact of PhonePe's redomiciliation from Singapore to India in 2022?
In late 2022, PhonePe completed its legal redomiciliation to India, paying nearly $1.0 billion in capital gains and corporate taxes to the Indian Government to ensure the company is 100% incorporated and regulated as an Indian home-grown corporate entity.
What are PhonePe's preparations for an Initial Public Offering (IPO)?
PhonePe has completed corporate restructuring and redomiciliation to India to prepare for a multi-billion-dollar domestic IPO on the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE), timing its listing to align with sustained GAAP net profitability.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "PhonePe Revenue & Financials." CorpDigest, https://corpdigest.com/company/phonepe/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>PhonePe reported ~$918.7M in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/phonepe/financials" target="_blank" rel="noopener">CorpDigest — PhonePe financials</a></div>Related Financial Audits
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