Mondee Holdings Inc · Q1 2023 earnings

Briefing

Reported strong operational and financial performance, marked by significant net revenue increase and adjusted EBITDA growth.

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.

Headline financials

Revenue & EPS history

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%.