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Jun 30, 2023
Mondee Q2 2023 Earnings Report
Reported strong financial results and launched a fully integrated AI Travel Marketplace.
Key Takeaways
Mondee Holdings, Inc. announced strong second quarter 2023 results, with net revenue of $56.8 million, a 124% increase compared to Q2 2022. The company launched its AI Travel Marketplace and increased its 2023 net revenue guidance to $245-$250 million.
Gross revenue of $708 million for the quarter, 112% of Q2 2022.
Net revenue of $56.8 million for the quarter, 124% of Q2 2022.
Adjusted EBITDA of $4.4 million for the quarter, 118% of Q2 2022.
Increased 2023 net revenue guidance to $245-$250 million, representing 155% of 2022 at midpoint.
Forward Guidance
Mondee is increasing 2023 net revenue guidance by $5 million and expects to continue delivering profitable growth. The Company projects that net revenue for the 2023 fiscal year will be in the range of $245 million to $250 million and adjusted EBITDA for the 2023 fiscal year will be in the range of $25 million to $30 million.
Positive Outlook
- Net revenue for the 2023 fiscal year will be in the range of $245 million to $250 million.
- Represents 155% of 2022 net revenue, measured at the midpoint.
- Adjusted EBITDA for the 2023 fiscal year will be in the range of $25 million to $30 million.
- Represents around 250% of 2022 adjusted EBITDA, measured at the midpoint.
- Company believes its recent tech innovations will accelerate Mondee’s revenue and market share in 2024 and extend its leadership in the travel AI industry.
Challenges Ahead
- One-time marketing and personnel costs of approximately $20 million are estimated to be required over the remaining year.
- Aims to maximize and accelerate the adoption of this revolutionary platform.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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