Serko (SKO) H1 2026 earnings summary

Executive summary

• Total income grew 45% year-over-year to $61.8 million for the six months ending 30 September 2025, driven by Booking.com for Business and the GetThere acquisition.

• EBITDAFI reached $6.1 million, a $4.9 million improvement over the prior year period, and free cash flow increased 128% to $3.0 million.

• Net loss after tax was $9.5 million, impacted by foreign exchange losses, asset impairments, and a non-cash loss on the sale of the InterplX expense business.

• Operating expenses rose 29% to $65.1 million, mainly due to GetThere costs and US market investment.

• Strategic focus on scalable growth, platform innovation, and AI-powered capabilities.

Financial highlights

• Total income: $61.8 million, up 45% year-over-year; operating expenses: $65.1 million, up 29%.

• EBITDAFI: $6.1 million (10% margin, up from 3%); free cash flow: $3.0 million, up 128%.

• Net loss after tax: $9.5 million, up from $5.1 million loss in prior year; asset impairments and FX losses contributed.

• Cash and short-term deposits at $65.2 million; no debt.

• Net cash from operating activities was $8.6 million, up from $4.7 million in the prior year.

Outlook and guidance

• FY26 total income guidance reaffirmed at $115 million–$123 million.

• FY26 total spend guidance revised to $124 million–$128 million, down from $127 million–$133 million.

• Risks include macroeconomic, geopolitical, currency, and ARPCRN movements.

• Expect continued investment acceleration in AI and platform capabilities.

• Long-term revenue aspiration of $250 million by FY30.