Serko (SKO) H1 2026 earnings summary

Executive summary

• Achieved record half-year performance with total income up 45% year-over-year to $61.8 million, driven by Booking.com for Business and the GetThere acquisition.

• EBITDAFI reached $6.1 million, a $4.9 million improvement and up 393% year-over-year; free cash flow increased 128% to $3.0 million.

• Net loss after tax widened to $9.5 million, impacted by lower interest income, FX losses, and a $2.0 million non-cash loss on the InterplX sale.

• Focused on scalable growth, especially in North America, leveraging partnerships, platform innovation, and AI-powered initiatives.

• Total comprehensive loss for the period was $11.4 million, reflecting additional losses in reserves.

Financial highlights

• Total income increased by $19 million (45%) to $61.8 million year-over-year, mainly from Booking.com for Business and GetThere.

• Operating expenses rose 29% to $65.1 million, reflecting GetThere costs, US market investment, and platform acceleration.

• EBITDAFI margin improved to 10% (up from 3%); free cash flow up to $3.0 million.

• Net loss after tax: $9.5 million, up 86% year-over-year, with asset impairments and FX losses contributing.

• Cash and short-term deposits at $65 million; no debt.

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 previous range.

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

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

• No new or revised IFRS standards materially impacted the period; accounting policies remain consistent.