RateGain Travel Technologies (RATEGAIN) Q2 25/26 earnings summary

Executive summary

• Achieved highest-ever quarterly revenue in Q2 FY26, driven by strong growth in MarTech and DaaS, new contract wins, GTM expansion, and successful integration of Sojern, a global AI-led marketing leader.

• Expanded into five new markets, with robust contract wins in APAC and Middle East, and LATAM growing over 52% in Q2.

• Continued product innovation with industry-first AI integrations, enhanced platforms like UNO and Viva, and strategic partnerships.

• Leadership team strengthened and recognized for innovation and workplace culture, with multiple awards and certifications.

• Approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025.

Financial highlights

• Q2 FY26 revenue reached INR 2,950.6 Mn, up 6.4% year-on-year; H1 FY26 revenue at INR 5,679.8 Mn, up 5.7% YoY.

• Q2 FY26 EBITDA at INR 536.3 Mn (18.2% margin), down 10.9% YoY; H1 FY26 EBITDA at INR 1,033.0 Mn (18.2% margin), down 6.1% YoY.

• Q2 FY26 PAT at INR 510.1 Mn (17.3% margin), down 2.3% YoY; H1 FY26 PAT at INR 979.4 Mn (17.2% margin), up 0.4% YoY.

• Net worth at INR 1,817 crore; cash and equivalents at INR 13,515.9 Mn, with INR 10,896 Mn used for Sojern acquisition.

• Basic EPS for H1 FY26 was ₹8.30, compared to ₹8.28 in H1 FY25.

Outlook and guidance

• FY26 revenue guidance raised to 55%-60% year-on-year growth, with EBITDA margin expected at 16%-17%.

• March 2026 exit run rate for consolidated EBITDA projected at 17%-18%.

• Organic growth guidance maintained at 6%-8% for FY26.

• QIP proceeds of ₹6,000 million remain unutilized as of September 30, 2025, earmarked for strategic investments and acquisitions.

• Double-digit growth expected in distribution business from FY27.