Key facts about SiteMinder Limited (ASX: $SDR) and its H1FY24 results

SiteMinder Limited (ASX: $SDR) has reported a loss of $14,859,000 for the half-year ended 31 December 2023, a decrease from the $25,527,000 loss reported in the previous corresponding period. The Group's principal activities consist of the development, sales, and marketing of its online guest acquisition platform and commerce solutions to accommodation providers, delivered via a software-as-a-service (SaaS) subscription model. The Group's total revenue for H1FY24 increased by 27.9% year-on-year to $91.7 million, driven by subscriber growth, transaction product uptake, and price increases.

Executive commentary on SiteMinder's H1FY24 performance

The loss for the Group after providing for income tax amounted to $14,859,000, a decrease from the $25,527,000 loss reported in the previous corresponding period. The Group's revenue increased by 27.9% year-on-year to $91.7 million, driven by subscriber growth, transaction product uptake, and price increases. The Group's growth strategy is centred around the deployment of its hotel commerce platform led by its two core subscription offerings in the Platform and Little Hotelier. The Group aims to continue focusing on product development efforts and investing in its scalable internal sales, marketing, and third-party distribution to support its growth into both existing and new territories.

Summary of SiteMinder's H1FY24 results and outlook

SiteMinder Limited (ASX: $SDR) reported a loss of $14,859,000 for the half-year ended 31 December 2023, a decrease from the $25,527,000 loss reported in the previous corresponding period. The Group's total revenue for H1FY24 increased by 27.9% year-on-year to $91.7 million, driven by subscriber growth, transaction product uptake, and price increases. The Group's growth strategy is centred around the deployment of its hotel commerce platform led by its two core subscription offerings in the Platform and Little Hotelier. The Group aims to continue focusing on product development efforts and investing in its scalable internal sales, marketing, and third-party distribution to support its growth into both existing and new territories. The Group's growth guidance remains unchanged, targeting organic revenue growth of 30% in the medium term, and expects to be underlying EBITDA profitable and underlying free cash flow positive for H2FY24.