Serko (SKO) investor relations material

Executive summary

• Completed room nights rose 39% year-over-year to 1.4 million, driven by a 35% increase in active customers and higher booking frequency, despite a challenging external environment and ongoing Middle East conflict.

• Minimal impact from the Middle East conflict, with the region representing less than 3% of total group completed room nights and a headwind of only 1%-2%.

• Strategic initiatives advanced, including expansion of Serko.ai beta to several hundred users and signing of two U.S. corporate customers.

• Affirmed FY 2027 guidance, with U.S. corporate segment contribution expected between NZD 2 million and NZD 6 million, contingent on further customer signings.

Financial highlights

• Completed room nights up 39% year-over-year in Q1 to 1.4 million.

• Active customer numbers increased 35% to 325,000.

• Average commission per completed room night decreased 2% to €19.39 year-over-year.

• ARPCRN (average revenue per completed room night) down 11% for the quarter to €8.70, reflecting lower room rates and commission tiering.

• Online bookings remained flat at 2.3 million compared to the prior year.

Outlook and guidance

• FY 2027 guidance reaffirmed, with total income expected at $128 million to $134 million and spend between $132 million and $140 million.

• Growth in completed room nights expected to moderate from Q1's 39% but supported by increased active customers.

• Guidance reflects timing of US corporate booking volumes and remains subject to economic and geopolitical volatility.

• Australasian managed travel and U.S. segments tracking as expected against guidance.