Agile Data Solutions, a Philippine-based market insights tech company, has announced raking in P27 million in annual revenue this year, defying the conventional growth models of most startups in the country.
The company attributed the net revenue this year to a sustained clientele of international FMCG, telecommunications, and technology companies. Aside from the net revenue, the startup also said that its Cost of Goods Sold (COGS) stands at 37%.
COGS is an essential metric as it helps in determining the gross profit margin of a company, which is a critical measure of profitability.
“It is our loyal base of customers, local and international companies, who want their consumer and market data fast and reliable that fuels our growth,” said co-founder and chairman Jason Gaguan. “Their continued trust and reliance on our services is what inspires us to continue to evolve quicker and better”.
Agile Data Solutions is among the success stories in the local startup scene, where most companies burn capital to pursue rapid expansion and defer profitability.
The startup gathers insights through its data collection app, Hustle PH, and boasts an organically grown base of 50,000 users without any social media marketing spend.
“Our platform leverages the power of the crowd. By tapping into our network of Hustlers all around the country, we provide real-time data for you to make agile and timely decisions,” the startup said on its website.
The company started in 2021 and quickly emerged as a competitor in the market research field. Agile Data leveraged its unique technology to deliver results more quickly, accurately, and cost-effectively.
The start-up’s unique approach has caught the attention of some influencers, who have shared Agile Data’s story, resulting in organic growth of their user base.
“We just suddenly see spikes in our users and find out a day or two after a famous content creator made a video about us. It just makes us very happy that people organically discover and grow to love our data-sharing and collection app,” Gaguan said.
Last year, the startup inked partnership deals with UnionBank’s open finance platform UBX, crypto giant Coins.ph, and payment solution provider Paymongo.