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Mondee Holdings (MOND) investor relations material
Mondee Holdings 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%.
Gross bookings were $678M, flat year-over-year, while transactions grew 57% to over 1.1 million.
Non-air revenue mix increased to 47%, reflecting strategic diversification and international expansion.
Net loss widened to $25.5M, including $19.1M in non-cash or non-recurring items; adjusted loss per share was $(0.17).
Comprehensive refinancing of term loan and preferred equity extended maturities, enhancing financial flexibility.
Financial highlights
Net revenues for Q2 were $58.3M, up 3% year-over-year; adjusted for acquisitions/divestitures, growth was 11.5%.
Adjusted EBITDA increased to $6.1M, with margin rising from 7.8% to 10.5%.
Take rate improved by 20 bps to 8.6%, driven by higher-margin hotel and packaged products.
Operating cash flow was negative $7.6M for Q2, but year-to-date operating and free cash flow were positive.
Cash and equivalents at quarter-end were $23.3M–$32.3M; total debt was $169.3M.
Outlook and guidance
FY 2024 net revenues are forecasted at $240M–$250M, a 10% increase at midpoint over 2023.
Adjusted EBITDA guidance for 2024 is $25M–$30M, up 42% at midpoint versus 2023.
Guidance reflects impact of working capital and FinTech credit constraints due to refinancing delays.
Long-term targets include mid-teens take rate and adjusted EBITDA margin of 30%+.
Liquidity position is expected to be sufficient for at least the next 12 months.
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