The open hotel commerce platform that helps to run most aspects of a hotel, has been growing strongly, and we think this business has a great future, with the stock residing on our Emerging Companies Hitlist.
They are out with FY24 results this morning with some highlights below, though, the key to this result is guidance they will be underlying Ebitda profitable, and underlying free cash flow positive in FY25. i.e. this company is now going from sowing, to reaping, with FY25 set to be a pivotal year.
- Revenue of $190.7mn up 26% on FY23 and inline with expectations,
- FY net loss of $25.1mn – about inline – not the main event today.
- Annualised reoccurring revenue of $209mn up 21% yoy. Which is a good number.
The revenue and cash flow results were reported on 31 July, so not many surprises today in the numbers, however, the outlook here remains positive.
MM is bullish toward SDR
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