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Jun 30, 2024
Mondee Q2 2024 Earnings Report
Mondee's net revenue, take rate, and adjusted EBITDA increased year over year, with adjusted EBITDA rising by 38%.
Key Takeaways
Mondee reported a strong second quarter with net revenue of $58.3 million, a 3% increase year-over-year. The company's adjusted EBITDA increased by 38% to $6.1 million, and the take rate improved by 20 basis points to 8.6%. The company is also refinancing its term loan and preferred equity to secure favorable terms for long-term growth.
Net revenues increased by 3% year-over-year to $58.3 million.
Adjusted EBITDA increased by 38% year-over-year to $6.1 million.
Take rate increased by 20 basis points year-over-year to 8.6%.
The company is refinancing its term loan and preferred equity to secure favorable terms for long-term growth.
Forward Guidance
Mondee adjusted its fiscal year 2024 guidance due to the impact of working capital and FinTech credit limit constraints caused by delays in completing the refinancing.
Positive Outlook
- Net revenues of approximately $240 million to $250 million, representing an increase of 10% versus 2023 net revenues, measured at the midpoint.
- Adjusted EBITDA of approximately $25 million to $30 million, representing an increase of 42% versus 2023 Adjusted EBITDA, measured at the midpoint.
Challenges Ahead
- The revised guidance reflects the impact of working capital and FinTech credit limit constraints.
- Delays in completing the refinancing caused the constraints.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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