Tracxn Technologies Ltd(TRACXN)

NSE: TRACXNBSE: 543638

₹ 32+3.16%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 342 crWebsite: www.tracxn.comUpdated: 24 Oct 2026

About

Tracxn Technologies runs a subscription private market data platform used by investors, investment banks, corporates and universities, and operates from Bengaluru. It reported FY26 revenue of 83.97 Cr, of which 38.2 Cr came from India and 45.8 Cr from international customers. It had 2,350 customer accounts and 6,534 users as of Q1 FY27. Its share of investment banks in India, measured by customer logos, was 28%+ in FY26.^[1][2][3][4]

Revenue by geography

India revenue grew 4.4% QoQ to 10.6 Cr in Q1 FY27, which annualises to about 19%, against 14% growth for FY26.^[3]
International revenue grew 1.4% QoQ to 10.5 Cr in Q1 FY27, its first quarterly rise after falling 10% in FY26.^[3]
FY26: India revenue was 38.2 Cr (+14% YoY) and international revenue was 45.8 Cr (-10% YoY). The VC segment took the biggest hit, with deal volumes near a 10-year low.^[2]
UK revenue growth improved from -3% in FY25 to +7% in 9M FY26 after vertical sales teams were extended to the UK.^[5]

Customer segments

India investment banking revenue grew nearly 8% QoQ in Q1 FY27 (over 30% annualised), up from about 20% YoY in FY26. New customer closures rose to about 20 a month, from 9 a month before the vertical team was set up.^[3]
FY26: Corporate Sales India revenue rose nearly 30% (accounts +45%), Universities India revenue rose over 60% (accounts +55%), and international investment banking accounts rose 35%.^[2]
Corporate Sales revenue grew about 23% YoY in Q3 FY26 and accounts grew over 80%. About 50% of this segment's revenue is international.^[5]
The universities vertical grew its customer base by 300% and doubled its revenue in FY25. Tracxn was added to the curricula of IIMs, ISB and XLRI.^[4]

Key operating numbers

Customer accounts were 2,350 in Q1 FY27 (+16% YoY), up from 2,289 in FY26. About 60 net new accounts were added in Q1 FY27, against 43 in Q4 FY26.^[3][2]
Paid users were 6,534 in Q1 FY27 (+22% YoY), up from 6,227 in FY26.^[3][2]
Deferred revenue reached an all-time high of 38.8 Cr in Q1 FY27, up 6% QoQ, compared with 34.9 Cr in Q2 FY26. Contract price rose 7% YoY in Q1 FY27.^[3][6]
Average selling price was about 3.6 lakh per account per year and about 1.3 lakh per user per year in Q1 FY27. In FY26 it was about 4 lakh per account, down from about 5 lakh, which management attributed to a shift in customer mix.^[3][2]
Organic search traffic was 7.9M visits in Q1 FY27 and 26.2M in FY26. Cumulative Tracxn Lite signups reached 317K in Q1 FY27, up from 285K in FY26.^[3][2]

Data platform and products

As of Q1 FY27, the platform held 7.2M detailed private company financials across 20+ countries (about 10x growth), cap tables for 1.7M+ companies (about 5x in 6 months) and 66M legal entities.^[3]
The number of entities profiled grew 72% YoY in Q1 FY27.^[3]
The platform draws on more than 836 million web domains, adds about 60 million new domains a year, and also uses regulatory filings (FY25).^[4]
In 2025, coverage of key data points grew more than 4x while the data production team's headcount was cut by a further ~20%, and monthly capacity for adding companies rose about 15x.^[5]

AI products

In Q1 FY27 Tracxn launched MCP connectors for Claude, ChatGPT, Gemini and Cursor, an AI assistant on its platform, and agentic workflows in beta. About 13% of addressable paid users had used these AI features at least once.^[3]
Management expects the AI channel to start contributing revenue in FY27.^[3]

Customers and distribution

New customers added in Q1 FY27 included Google, OpenAI, HSBC, Siemens, Bain Capital, UBS, Kotak and Mizuho.^[3]
By number of customers, the top 5 countries at the end of FY25 were India, the USA, the UK, Singapore and Germany.^[4]
A partnership with TMX Datalinx, the information services arm of TMX Group, gives Tracxn reach to North American financial institutions. It was generating small revenues as of Q4 FY26.^[5][2]
Sales and marketing made up 30% of total headcount in Q1 FY27, compared with 24% in Q1 FY26.^[3]

Expansion plans

The closing sales team is planned to grow from 34 (Dec 2025) to about 60 by Dec 2026: India from about 25 to about 40, and international from fewer than 10 to about 25.^[2]
Estimated revenues for private companies and M&A deal valuations are due to launch internationally in the coming months.^[3]
India revenue growth is guided at 15-20% for FY27, and total expense growth at about 10%.^[3]
More reseller partnerships beyond TMX Datalinx are being worked on, aimed at exchanges that want data businesses.^[3]

Recent developments

A share buyback was completed in H1 FY26 and was oversubscribed 6x.^[6]
The company fully wrote off its deferred tax asset as of September 2025.^[6]

Market Cap

₹342 Cr

High / Low

₹55 / 25

Stock P/E

-28.3

Price / Book

6.5

Book Value

₹5

EPS

₹-0.7

No. of Shares

10.67 Cr

ROCE

-1.0%

ROE

-13.3%

OPM

-0.6%

Debt / Equity

0.00

Sales

₹84 Cr

Net Profit

₹-8 Cr

Promoter holding

34.6%

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