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Mondee (MOND) investor relations material
Mondee Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 2024 net revenues reached $58.3M, up 3% year-over-year, with adjusted EBITDA rising 38% to $6.1M and margin expanding to 10.5%.
Transactions grew 57% year-over-year to over 1.1 million, driven by international expansion and non-air product diversification.
Non-air revenue mix increased to 47% of net revenue, up from 42% year-over-year, reflecting successful diversification.
Comprehensive refinancing extended term loan and preferred equity maturities, enhancing financial flexibility and supporting growth.
AI and fintech initiatives contributed to operational efficiencies, improved profitability, and enhanced customer engagement.
Financial highlights
Net revenues for Q2 2024 were $58.3M, up 3% year-over-year; gross bookings were $678M, flat year-over-year.
Adjusted EBITDA increased to $6.1M from $4.4M, with margin rising from 7.8% to 10.5%.
Take rate improved by 20 basis points to 8.6%, driven by higher-margin hotel and package products.
Net loss for Q2 2024 was $25.5M, including $19.1M in non-cash/non-recurring items; adjusted net loss per share was $(0.17).
Free cash flow year-to-date was $3.3M, a significant improvement from prior year.
Outlook and guidance
FY 2024 net revenues are expected between $240M and $250M, up 10% at midpoint versus 2023.
Adjusted EBITDA guidance for 2024 is $25M–$30M, a 42% increase at midpoint, with margin targeted at 11%.
Long-term targets include mid-teens take rate and adjusted EBITDA margin of 30%+.
Guidance reflects impact of working capital and fintech credit constraints due to refinancing delays.
Management expects continued revenue growth from acquisitions and ongoing expansion of the travel marketplace.
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