Mondee sees Q4 adjusted EPS (13c), consensus (12c)

Sees Q4 revenue $61.1M, consensus $55M. “Mondee is pleased to report record net revenues and Adjusted EBITDA in Q4 and full year 2023, exceeding guidance. This strong year-over-year growth was fueled by product and geographic expansion of our marketplace, industry-leading technology advancements, and sustained leisure travel demand. We are focused on marketplace expansion in both content, geography and new-era distribution as well as widening our technology lead in AI with investments in Abhi, the first AI-powered travel platform and the acquisition of AI pioneer Purplegrids. These initiatives, coupled with sustained transaction growth, take rate improvement, and cost control are expected to enhance revenues and profitability,” said CEO Prasad Gundumogula. “Mondee’s record financial performance continues, with gross bookings increasing by 24% in Q4 2023. The success of our monetization strategies led to a take rate of nearly 10%, double pre-pandemic levels, driving net revenue growth of 78%. Turning to profitability, 2023 Adjusted EBITDA of $21.M increased by 77% year-over-year. Looking forward, we remain committed to top-line growth, profitability, and cash flow generation,” said CFO Jesus Portillo.