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Serko (SKO) investor relations material
Serko H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary17 Nov, 2025
Executive summary
Achieved record half-year performance with total income up 45%–47% to NZD/USD 61.8 million, driven by Booking.com for Business and GetThere expansion and acquisition.
EBITDA/EBITDAFI improved to NZD/USD 6.1 million, up 394%, with free cash flow rising to NZD/USD 3.0 million.
Net loss after tax increased to NZD/USD 9.5 million, impacted by asset impairments, FX losses, and a NZD/USD 2 million non-cash loss on InterplX sale.
Focused on scalable growth, especially in North America, leveraging partnerships, platform innovation, and AI initiatives.
Total comprehensive loss for the period was $11.4 million, reflecting additional losses in reserves.
Financial highlights
Total income reached NZD/USD 61.8 million, up 45%–47% year-over-year, mainly from Booking.com for Business and GetThere.
Operating expenses rose 29% to NZD/USD 65.1 million, reflecting GetThere costs and US market investment.
EBITDA/EBITDAFI margin improved to 10%, with free cash flow up to NZD/USD 3.0 million.
Net loss after tax increased to NZD/USD 9.5 million, with basic and diluted loss per share at $(0.08).
Cash and short-term deposits at NZD/USD 65 million; cash and cash equivalents at period end were $20.0 million.
Outlook and guidance
FY2026 total income guidance reaffirmed at NZD/USD 115–123 million.
FY2026 total spend guidance revised to NZD/USD 124–128 million, down from previous range.
Risks include macroeconomic/geopolitical factors, currency, and ARPCRN movements.
Long-term revenue aspiration of $250 million by FY2030.
No new or revised IFRS standards materially impacted the period; accounting policies remain consistent.
InterplX disposal impact on intangibles
Effectiveness of EUR revenue hedging strategy
Drivers of widening net loss despite revenue growth
Impact of Sabre's strategy shift on US sales
Detail AI investment from role reallocation
Future ARPCRN impact from commission tiering
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H2 202618 May, 2026
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Frequently asked questions
Serko Limited is a New Zealand-based company specializing in travel management and expense technology. Established on May 23, 2007, Serko has grown to become a key player in providing software-as-a-service (SaaS) solutions aimed at simplifying corporate travel management. Its flagship platform, Zeno, offers a comprehensive travel and expense management service, catering to both enterprise companies and small to medium-sized businesses through partnerships with travel management companies and integration with Booking.com for Business. Serko also operate a marketplace for suppliers to connect their content directly, bypassing traditional global distribution systems. The company is headquartered in Auckland, New Zealand, and its shares are listed on both the New Zealand Stock Exchange (NZX) and the Australian Securities Exchange (ASX).
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