Serko (SKO) Investor Day 2024 summary

Strategic direction and growth plans

• Targeting $250m total income by FY30, driven by Booking.com for Business and North American expansion.

• Expanding platform capabilities to serve both managed and unmanaged travel segments, leveraging AI and data.

• New strategic partnership with Sabre and acquisition of GetThere to accelerate US market entry and innovation.

• Focused on customer retention, new customer acquisition, and increasing average revenue per booking.

• Evolving from an online booking tool to an intelligent, unified travel solution for end-to-end journeys.

Financial guidance and projections

• FY25 guidance unchanged; $3m in transaction-related costs and $3m in one-off implementation costs expected, with GetThere contributing ~$4m income and ~$9m spend.

• Anticipated spend and income profiles through FY30 show accelerated investment funded from cash and revenues.

• Analyst income estimates for FY30 range from $191m to $247m, close to the $250m aspiration.

• Positive free cash flow achieved in 1H25, with adjusted free cash flow of $2.3m.

• Spend as a percentage of income has materially decreased since FY22, reflecting operational efficiency.

Platform evolution and technology

• Unifying legacy technologies (Zeno, GetThere, Booking.com for Business) into a single, scalable Serko platform.

• Platform designed for global scale, supporting third-party integrations and built-in AI/ML capabilities.

• AI and data-driven features to empower travelers, manage disruptions, and optimize sourcing.

• Cloud infrastructure and common travel services to reduce duplication and future-proof technology.

• Experiment-driven development with over 150 experiments conducted in the past year.