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Mar 31, 2023
Mondee Q1 2023 Earnings Report
Reported strong operational and financial performance, marked by significant net revenue increase and adjusted EBITDA growth.
Key Takeaways
Mondee reported a strong first quarter in 2023, with a 128% increase in net revenue and an 80% increase in adjusted EBITDA compared to the first quarter of 2022. The company's net revenue reached approximately $50 million, and adjusted EBITDA nearly doubled to $4 million. Mondee also raised its full-year net revenue guidance to $240-$245 million.
Gross revenue for the quarter was $699 million, a 146% increase compared to Q1 2022.
Net revenue for the quarter was $49.9 million, a 128% increase compared to Q1 2022.
Adjusted EBITDA for the quarter was $4.0 million, a 180% increase compared to Q1 2022.
The company acquired Orinter, Interep, and Consolid, expanding its presence in Latin America.
Mondee
Mondee
Forward Guidance
Mondee projects net revenue to be in the range of $240 million to $245 million, representing year-over-year growth of 52%, and adjusted EBITDA to be in the range of $40 million to $45 million, representing year-over-year growth of 258% and a margin of 17.5%.
Positive Outlook
- Capitalizing on international travel market recovery
- Continuing to expand geographically
- Leveraging enhanced technology
- Expanding products
- Increasing market share