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Tanla Platforms reported Q1 FY26 revenue of ₹1,041 Cr (up 1.6% QoQ, 3.8% YoY) and PAT of ₹118 Cr, marking its second consecutive revenue growth quarter. Management aims for 20% EBITDA CAGR growth over the next two years, driven by new platform launches and efficiency gains. Key updates include an upcoming AI-native platform launch with a Southeast Asian telco (subscription model, revenue from Q2) and MaaP platform deployments with two Indonesian telcos. The company maintains a zero-debt balance sheet and announced a ₹175 Cr buyback via tender route. While enterprise SMS revenue faces pricing pressure, OTT channels are growing. Management's tone is confident, with growth anticipated from Q2 onwards.