We’d make those investments again': Snabbit CEO on FY26 losses

Synopsis

His comments followed media reports on Friday based on Registrar of Companies filings, that said the company had earned operating revenues of Rs 12.2 crore in FY26 while incurring a Rs 168 crore loss. The company has raised $112 million from investors so far.

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Snabbit founder and CEO Aayush Agarwal defended the startup’s FY26 financials, saying an annual profit-and-loss statement does not capture how quickly the business has improved. In a LinkedIn post, Agarwal acknowledged that the instant home-services company had spent far more than it had earned, but said the investment was deliberate.

"Did we spend significantly more than we earned? Absolutely. Building a category from scratch requires investment. In customer adoption, workforce training, technology, infrastructure, and geographic expansion. We made those investments deliberately, and we'd make them again," he said in the post.

His comments come after ETtech reported on Friday based on Registrar of Companies filings, that the company had earned operating revenues of Rs 12.2 crore in FY26 while incurring a Rs 168 crore loss. The company has raised $112 million from investors so far.

The numbers reflect the fast-growing and high-cash-burn nature of the 10-minute househelp space, in which Snabbit competes against Urban Company and General Catalyst-backed startup Pronto.

Agarwal added that FY26 was the company’s first full year of operations. Snabbit started the year at about 500 jobs a day and ended it at 35,000, which he described as a 70x growth. It added nearly a million customers and onboarded more than 20,000 “Experts”, as it calls its workers.

On unit economics, Agarwal said Snabbit lost roughly Rs 1,500 per job at the start of FY26, and that the figure was below Rs 200 last month, and still falling.

"Snabbit is the largest high-frequency home services platform in the category, both by jobs completed and net transaction value. The most capital-efficient at a job level, with the lowest spend per completed job," he wrote, adding that the company is building greater density while operating in fewer cities and micro-markets, and that home cooks and salon services are showing early traction.

“The losses of FY26 reflect what it took to create this category,” he wrote, adding that FY27 numbers would show what the investment is delivering. Add as a Reliable and Trusted News Source Add Now!

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