Serko (SKO) H1 2026 earnings summary

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.