Anghami (Nasdaq: ANGH) announced that it has filed its annual report on Form 20-F for the year ended December 31, 2021.
According to the report, Anghami’s paid subscribers in 2021 increased to 1.4 million, driven by improved customer retention, the introduction of new subscription plans, and smart billing enhancements.
Subscription revenue also increased due to a focus on monthly subscriptions, which grew by 47 percent year-over-year to 1.2 million users in 2021.
The findings show that the total revenue increased to $35.5 million in 2021 – (16 percent year-over-year) with an overall gross margin reaching 25.5 percent.
Subscription revenue reached $25.7 million in 2021 – notably by converting 43 percent more paying subscribers into the monthly plan.
Additionally, advertising revenues grew by 70 percent to $9.8 million – with advertising gross margin growing from 38 percent in 2020 to 53 percent in 2021.
Meanwhile, preliminary unaudited numbers results for Q1 2022 suggest that total revenue increased by 23 percent year-over-year compared to Q2 2021.
The total number of active users on Anghami increased by 20 percent year-over-year to 18.5 million in Q1 2022, while the average revenue per user (ARPU) grew 10 percent year-over-year driven by 43 percent growth in monthly paying subscribers.