Serko (SKO) H2 2026 earnings summary

Executive summary

• Total income grew 34% year-over-year to NZD 120.9 million, driven by Booking.com for Business and the first full year of GetThere revenue, with solid Australasian performance.

• EBITDAFI increased 137% to NZD 6.5 million, reflecting improved operational leverage and efficiency.

• Net loss after tax narrowed by 19% to NZD 17.7 million, reflecting improved operational discipline and lower non-cash impairments.

• Booking.com for Business completed room nights rose 31% to 4.3 million, with active customers up 36% to 301,000.

• Cash on hand at year-end was NZD 54.1 million, with no debt.

Financial highlights

• Total income increased 34% year-over-year to NZD 120.9 million.

• EBITDAFI reached NZD 6.5 million, up 137% from the prior year.

• Net loss after tax improved to NZD 17.7 million, narrowing by 19%.

• Free cash flow was negative NZD 4.4 million, reflecting increased investment and GetThere settlement.

• Operating expenses rose 23% to NZD 132.4 million, below the 34% income growth.

Outlook and guidance

• FY 2027 total income expected in the range of NZD 128–134 million, with spend of NZD 132–140 million.

• Guidance reflects resilient business travel demand but acknowledges macroeconomic and geopolitical uncertainties, especially from Middle East conflict.

• Strong start to FY 2027, with booking volumes slightly ahead of expectations.