Business Daily Media

Men's Weekly

.

SiteMinder reaccelerates in FY22. Acquires GuestJoy.

  • Written by PR Newswire
SiteMinder reaccelerates in FY22. Acquires GuestJoy.

SYDNEY, Aug. 23, 2022 /PRNewswire/ -- SiteMinder (ASX:SDR) has today released its results[1] for the 12 months ended 30 June 2022 (FY22), demonstrating continued reacceleration in the business.

Sankar Narayan, CEO and MD at SiteMinder said: "The most pleasing aspect of our FY22 performance has been the team's successful execution of our ambitious new initiatives, laying the foundations for SiteMinder to scale and sustain high organic growth. Our product and other initiatives, including the acquisition of GuestJoy, enhance our growth opportunities with additional services to existing customers as well as expanding into new customer segments. With the lifetime value of our customers in Q4FY22 30% above pre-COVID levels, despite global travel still recovering, our initiatives are boosting customer and shareholder value. Our leading multilingual commerce platform and unrivalled global go-to-market capability, provide us confidence to reiterate our growth guidance and in addition communicate our expectation to become free cash flow neutral by Q4FY24 on a quarterly basis. I want to again thank all our staff, partners and customers for the resilience and the ingenuity shown over the last couple of years."

SiteMinder reaccelerates in FY22. Acquires GuestJoy. SiteMinder growth accelerates to 25% ARR YoY, acquires GuestJoy

FY22 Performance Highlights

(All growth rates are y/y)

  • FY22 ARR grew 25.3% y/y (cc) to $129.7m, which is 27% (cc) higher than the pre-COVID ARR at the end of FY19.
  • FY22 revenue of $116.0m, up 15.0% y/y (cc), and exited the year growing 23.4% y/y (cc) in Q4FY22. Americas grew 27.3%, EMEA grew 21.4%, and APAC grew 0.4% y/y (cc) in FY22.
  • Customer count grew 7% to 34.7k in FY22 with the additions weighted towards Q4FY22 due to Omicron impacts earlier in the financial year.
  • Improving SaaS economics with LTV/CAC increasing from 2.1x in FY21 to 3.2x in FY22, and exited FY22 at 3.9x in Q4.
  • Expanded total ARPU to $291, up 13.2% y/y (cc) in FY22. Subscription ARPU grew 2% y/y (cc), while Transaction ARPU grew 68.6% y/y (cc). Transaction products subscribed by our customers increased 51% y/y to 13k products in FY22.
  • Underlying FY22 free cash outflow* of 30% of revenue following investments in rebuilding GTM and new products.
  • Available Liquidity of $117.7m.
  • Signed agreement to acquire GuestJoy, highly rated suite of customer relationship management tools that will deepen and broaden the platform offering.
  • Reiterates growth guidance of 31%**. Expectation to become free cash flow neutral by Q4FY24** on a quarterly basis.

cc = constant currency* Underlying free cash outflow = the sum of underlying operating cash flows and underlying investment cash flows** Realisation of SiteMinder's growth and free cash flow guidance will depend on many factors outside of the Company's control, including the substantial abatement of COVID-19 related influences on the accommodation and travel industry and the continued recovery of travel.

About SiteMinder

SiteMinder Limited (ASX:SDR) is the world's leading open hotel commerce platform, ranked among technology pioneers for opening up every hotel's access to online commerce. It's this central role that has earned SiteMinder the trust of tens of thousands of hotels, across 150 countries, to sell, market, manage and grow their business. The global company, headquartered in Sydney with offices in Bangkok, Berlin, Dallas, Galway, London and Manila, generated more than 100 million reservations worth over US$35 billion in revenue for hotels in the last year prior to the start of the pandemic. For more information, visit siteminder.com[2].

References

  1. ^ released its results (cdn-api.markitdigital.com)
  2. ^ siteminder.com (www.siteminder.com)

Read more https://www.prnasia.com/story/archive/3852027_AE52027_0

Qantas to Serve Nan’s Davidson Plum Cookie

Lake Macquarie, NSW (Awabakal Country): From a single mother’s kitchen bench to supermarket shelves, Wiradjuri entrepreneur Terri-Ann “Tezzi” Dani...

Minns Labor Government shutting down the Business Connect program

The NSW Opposition is concerned that the Labor government will shut down a support program that has assisted New South Wales businesses. In a media ...

Samsara Eco appoints Dr. Lars Kissau as General Manager for Asia

Australian biotech innovator Samsara Eco has announced the appointment of Dr Lars Kissau as its first General Manager of Asia. Based in Singapore...

From the first bounce to the final siren - small business lessons from the AFL Grand Final

The AFL Grand Final is one of the most anticipated days on the sporting calendar. This Saturday, the Geelong Cats and Brisbane Lions will battle i...

Australia’s top finance leaders recognised as CFO role expands

Amid surging regulatory demands and rapidly evolving industry, Australia’s most influential Chief Financial Officers will be honoured at the inaug...

Why outdated security leaves small businesses exposed to crime

Small and medium businesses in Australia are under increasing pressure to address security gaps that criminals readily exploit. An unlocked door, an...