OnMobile’s international revenue grew an impressive 7% QoQ and contributed ~64% of revenue in F3Q13, with Latin America accounting for the majority share (~25% of revenue). Businesses in Europe and Africa have also demonstrated strong revenue growth, albeit at a lower base. Last quarter, the company secured two major contracts for RBT in Europe (in Spain and Turkey), which are expected to go live in the next two to three quarters.
The domestic business revenue has been declining for the last eight quarters, largely due to regulatory issues affecting the industry, including the TDSAT order on VAS requiring the operators to receive confirmation from customers for usage of VAS within 24 hours of activation.