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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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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