Business Daily Media

The Times Real Estate

.

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

Little known law offers savvy Kiwis the opportunity to supercharge their retirement savings

A little-known legal amendment is being leveraged by savvy New Zealanders and expat Brits to supercharge their retirement savings. Not many peop...

Cutting edge AI technology designed for doctors to reduce patient wait times launched in NZ

New Zealand specialist doctors now have access to Artificial Intelligence technology to help reduce patient wait times and experts say it could be...

Launchd Takes Off: Former AFL Stars Lead Tech-Powered Platform Set to Disrupt Talent and Influencer Marketing

Backed by Institutional Capital, Launchd Combines Five Leading Agencies and Smart Technology to Deliver Measurable Results Influencer marketing i...

Meet the Australian fintech unlocking rewards for small businesses

Small businesses make up 98 per cent of all businesses in Australia, yet they continue to bear the brunt of economic uncertainty. According to Credi...

Teleperformance (TP) Business Insights Report Reveals Key Shifts in Consumer Behaviour

TP’s Business Insights report  into consumer behaviors and preferences, taking in more than 57,000 respondents across 19 sectors, is shedding new li...

HubSpot launches platform-wide AI tools to help businesses close the adoption gap

HubSpot today unveiled more than 200 updates across its customer platform to help businesses grow better. The release introduces smarter tools, new AI...

Sell by LayBy