MOND - Earnings call 2 2022 | Mondee Holdings, Inc.

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Operator

Good day, and welcome to the Mondee Second Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference call over to [ Jeff Houston ], Senior Vice President. Jeff, please go ahead.

Unknown Executive

Thank you, and good morning, everyone. Quarter Call. Second Mondee's to XXXX Conference Welcome With Gundumogula; Figenshu, and are Chairman, who Founder, Prasad CEO and Chief present results. me our today will Financial Officer, Dan Officer, Chief Also Vice Officer, Strategy Orestes Fintiklis; and Jim available, Dullum. and Chairman, Business our Operating Chief Development

statements statements, I'd to our business, growth, success, forward-looking our nonhistorical subject uncertainties government and statements product we management economic assumptions may begin, that forward-looking statements conditions. risks, call growth other These Mondee's described press release. to and like Before about in as and and everyone to revenue including are general the and certain our remind this performance development those contain industry, including and related business management our our of evolution further of plans our

to these statements obligation that and of Descriptions any SEC results to was material revise this with press filed reflect morning. have could actual issued and statements in these after occur the in changes release cause forward-looking no our a undertake are from We discussed that our call. reports other this that risks to difference

the GAAP the measures. began Reconciliations Legacy comparable were required with Mondee's are results on NASDAQ on SEC. Mondee the stock non-GAAP not months call, -- June to also and X available ended trading measures private the not is its a investors.mondee.com. which to release, financial still are our we we XX, company XX-Q second XX. available most will the XXXX, Since the after During that second file during July quarter, quarter is of also in at press that refer Note for the

in earnings. performance an or earnings and the required on website, is X-K, and to that an our an we through provide available which earnings we host content so financial at on plan now including waiting to when and call While we until decided to file you updated an presentation, leisure, November instead publish its third are investor can update an not hold we flip quarter this can of call, business your report release

that, the call Prasad? turn Prasad. With like would over I to to

Prasad Gundumogula

Mondee's Figenshu summary our and strategy, highlights our review today's interest, you, you call. everyone, over then of more earnings of are detailed outlook. employees, to a call a and results whether the call welcome, appreciate financial client, Dan suppliers, partner, your quarter shareholder, and We we'll second for with will prospect business to I or shareholder our turn Thank begin a Jeff, business analyst. to a CFO, and

We will then conclude the few questions. session with a time to answer

announce up was excited deliver of Legacy million second that I'm XXX% revenue to profitable XXXX, continued Gross year-over-year. XX% up was quarter net of to growth. $XX.X year-over-year, Mondee of $XXX.X while the in revenue million

deliver continue In as to we addition, we profitability. scale,

Second $X.X quarter quarter-over-quarter. up breakeven EBITDA adjusted XXXX from doubled was million, and in QX

we many second, debut. continue improve second positioned tech for and and with in well we areas on platform; the there accomplishments half to third, growth were ongoing results financial recovery; market up our company public the of year: operating drove evolve capitalized M&A market our and we X and for us Among the that quarter, set the strong First, second key travel our our

and by were most Starting second through travel, Ukraine, of international travel some uneven of the recovery XXXX, of parts was in which it policies, ongoing was recovery the began industry, leisure post-pandemic recessionary which war with world, impacted in especially strong effects recovery in travel the The quarter a threats. market. of differing inflation the although XXXX, during the subdued

to agile international by dynamically operating largely adjust reopenings. more recovered on were marketing, regional some others, based than market first, International our post-pandemic focus able and in opened go-to-market travel investments. followed our domestic With Our travel. culture, sales areas we

the investor of mix. Slide transactions example, recent our the presentation second North for line mix of in our region second recovered by of year, of overperformed shows, XXXX. in with most first America XXXX of out quarter Asia has Europe quarter in versus represents an pre-pandemic for and of second the sets the It this X the XXXX. pre-pandemic half opportunity half

of market the primary our transactions go-to-market North to return hotel America resources market open, first America, where Since we the our capitalize and air, levels are by Our the and pre-pandemic recovery. North leaders ancillary was to June. market focused to on XX% we

the second represents to in European in we transaction now open Middle the volume of adjusted which As regions pre-pandemic XX% next, resources and from is the market European transactions than in general quarter, pickup more January Overall, resulted the our and and have Eastern recovery European tailwinds. now share markets which added fuel strategy exceeded strong mix. XX% XXXX. and doubled marketing share our Eastern market to programs Middle increase in the regions This which there,

However, as Mondee XXXX, first the significant of during particularly market the pandemic. before market more Asia room improve half regions travel which to China, continue to restrictions the for have has a certain was

and these restrictions the marketing and trend. to recovery we resources capitalize are the continued a As substantial that in travel for second ease, opportunity represents other positioning market Asian our on half, our

capitalized recovery, In go-to-market addition TripPlanet opportunities on general we have our to channel market with well. other market performing initiative the

of theme strategic for of this leading ours beginning the from less parks, for of TripPlanet and business a million members year. and and XXXX our events content Affinity million the more, million together And EBG, closed Driving events we as increase for in user Gallagher our groups. As with X provider a since in partnership on in activities what reminder, average to this TripPlanet highlight with strategic enterprise the January -- XX almost others our about such tickets recent is our user closed access this some member currently, with of increased and note is growth which XXX and Xx daily segment is than in alliances up organizations groups XXXX. our small-to-medium platform solution booked

travel performance continuously tickets following: adding tour first, options are actively our travel revenue distribution target leader technology-led enabled our and where aggressively marketplace effectively, our our affiliates Mondee's we are to park growth. vacation airfares, North expanding private rental our The evolving add and second global channels in closed connecting our in global user cruises we groups. by through content features ecosystem is This hotel and content. of exploring already hubs tech platform to driver hub, service America content, content the even is and the and theme rapidly

our user-generated through content positioned add now In to crowdsourcing. technology is addition,

and user curation our needs full fueled service further closed of support economy on in we leisure, full a basis. gig XX/X and expect expand service customer customers. on content Second, suite basis our for hub, coverage retail The hub a for channels provide distribution and to group a crowd-sourced local expertise provides and traveler and

by emerging economy vacation of solid expect management. XXX next-gen rentals distribution as airlines, driving which This tech to includes but more hotel offerings. are additional Service evolving fuel least, and conversational connect forward. enabled to traction, benefits our and tech support continuously X various our and whom not we platform, gig advisers high-value commerce omnichannel it achieve content and workers Last for over million XX,XXX content continues such we capability delivery travel features. than platform the It now and going is with improved gig our ancillary travel over results from capabilities

online XXXX. and largest that current a global of comparable at as complete trip momentum combinations ancillary our As a facilitated travel the XX% rentals second well companies, single and approximately negotiated prices XXX,XXX from we multiple could privately ability vacation and the approximately We mostly transactions define travel the hotels, scale and year-over-year experience, consumers sources, transactions, solutions. to as platform is in affairs. as Mondee the reminder, transaction quarter, second include up the assembles in albeit with or flights travel Demonstrating XXX,XXX quarter so

and and ranging fraud travel cards platform for social industry, customized from insurance. to media travel solutions addition, and insurtech the In fintech, our martech campaign digital virtual solutions and protection provides

example year-over-year. major piloting tech-led made solid of gig economy leisure-focused travel including on platform evolution next-gen excitingly, customers our is fintech result A QX our worker were in the XXXX, a this which the of with the More offering for are and strides on our an we growth company. XXX% space further success platform from impressive gig

expect deployment of We full half of the move to into our platform second next-gen the in year.

We also TripPlanet platform tech groups closed member our SMEs. and organizations, our offer user to to

in the leisure and personnel of user benefits to and the needs. for groups extends Mondee ecosystem these various closed individuals platform organizations travel their Our

As the beginning mentioned this since increased have almost in transactions XXXX. of channel above, Xx

of XX area company of third public positioning the and is recent a hard for the trading significant On NASDAQ I which and all NASDAQ July began this would future. employees, their listing, our Turning suppliers for to year, and our Becoming our under ticker shareholders, partners of M-O-N-D. work. on customers, the a accomplishment like and continued milestone, Mondee support MOND, to is symbol thank

of strategic commence post-merger to status companies enable our a as acquisitions fit and vision public We our to us thrilled leveraging are that execute our journey company. We forward NASDAQ-listed to aggressively. look capital market to structure

will and aggressively We We transactions, and help targeted plans. accretive history execute revenue integrated to calibrated growth have our successfully a of strong M&A which plan strategy, synergies. cost a well delivering accelerate acquisition

a are to fit accretive a number our good continue identified we and platform that believe for we the disrupt acquisition have We transform as travel industry. of targets

call Figenshu, CFO of our outlook. and for now a to financial I pass the performance will review Dan Mondee over of

Dan Figenshu

to again thanks and audience Prasad, you, for attending. Thank our

performance, was of revenue EBITDA company's second are entirely given We growth. by organic quarter profitability, especially particularly legacy financial performance growth this that of the the proud continued driven adjusted

the attention just provided M&A we optimize used turning strategy, are as commencing to entry now mentioned. structure, by toward and the public Prasad our of have part our to We markets our our capital liquidity planned

growth to quarter XXX% Net year-over-year revenue to than revenue, particular, Second line of after aforementioned $XX significant back with drivers in revenue in pressure. by some periods. as which $XXX beginning gross XX% grew The million. -- rates million. the expectations define more grew offset pockets prior year-over-year more growth divided in quarter to in we Take are volatility come to gross net -- come revenue

QX's somewhat of rates fintech ancillary X.X XXXX take still to our Regardless, of line While first and was our X%. the percentage X.X% X% due with as rate to up the for XXXX's levels of half points declined is solutions success in pre-pandemic revenue. X.X% expectations projected. QX XXXX to of from take

the as travel solutions patterns. change changing cancellation where spiked cancellations during higher fees, such countercyclical to particularly global demand due and were ancillaries as rates with changes as Take for protection, well and our pandemic, travel insurance

world declined the demand reopened. expected, somewhat As has for solutions as these has

a sticky more and to forward, of ancillaries, revenues, portion take trend expect our well such higher Going revenue as of higher-margin the higher typically disruptive as taking we the subscription, into a as mix impacts account comes of products. mix even subscription and rates before upward Unpub that is the fintech greater from TripPlanet revenues and as hotels carry margin. of This the

mentioned. We gross Prasad the due our happy were million able to the Over any quarter-over-quarter. Furthermore, of sold we offset X business over actions than first we in strategic trends: months doubled X are more EBITDA X billion first tickets in months; revenue headwinds in to the XXXX; overall $X with

revenue, QX in operating GAAP year and the million $XX.X net or of to expenses. XX.X% quarter. that's from expenses down ago XX.X% Turning were

of basis. quarter-to-date both investing decreased Sales in of of XXXX. second as and as a on marketing, launches. product quarter from been quarter as opportunities net such revenue-generating to relatively has as revenue of events percentage While marketing revenue quarter-to-date of G&A a X.X% year-to-date XXXX flat percentage a X.X% the and and gross first in

were $X.X adjusted loss pandemic million net increased losses were lifetime a non-GAAP $X.X basis, million $X acquire last XXXX was today's per $X.XX million, year. of adjusted adjusted an $X.XX And recovery. million reconciliations earnings post $X. a GAAP of losses Our share year in compared with to losses million, basis, second $X.XX with quarter $X.X and marketing Even a On million quarter. compared our per year. release. $X.X compares EBITDA as customers of loss to QX loss were QX share a On at compared $XX.X $X.XX of share a per last costs available a net ago net a grow year. loss non-GAAP to compared Note and in that the improvement share share market last EBITDA of this adjusted are that to after to losses of Adjusted inflection point per

X Net compared cash operations ended was months from and for the June months that's million, to flow million used for the $X.X $X.X June XXXX X ended XXXX.

We positive cash be from flow expect year operations full to net for XXXX.

would to outlook. this our take to opportunity like our establish to approach. Turning guidance We

on quarter provide earnings annual we call. our guidance will forward, an Going fourth

guidance. So when XXXX results, will fourth quarter we we establish XXXX report

range to (sic) be the of XXXX, of is $XX to growth representing revenue [ be million projected of margin to $XX Adjusted midpoint. For year-over-year the million, is growth $XXX projected XXX% at of This and XX% net a in XXX% in to million. the XX% year-over-year million at of the range ] EBITDA represents midpoint. $XXX

In summary, we reopening over turn opportunities. a on in that future and to Mondee of strong capitalize Prasad. industry growth to the I position the is believe travel it financial will on back

Prasad Gundumogula

tools. that in international the consumers gaining share, and tomorrow's addressing provide we the term platform target positioned recovery best market term. is over a medium distribution travel the today in well In the continuously long Dan. underpinning focused opaque travel effective We are growing and content a lease benefiting the summary, we Mondee travel channels Thanks, consumers continue believe on marketplace. needs a with to and through from experience to rapidly technology the most believe modern next-gen technology travel of most leader the evolving We efficient travel of

first our earnings for Thanks forward attending your to support. look and call, we ongoing

Unknown Executive

to are up Q&A. ready we open Operator, to it

Operator

comes Tom, Our from Tom from D.A. first Davidson. ahead. Instructions] question please White [Operator go

Thomas White

There hear a again, a partners macro pressure. I guess, of discussions obviously also cross between Maybe Great. for your But going. people number could. kind A I travel curious just -- is one inflation travel couple, first, of of supply Prasad. maybe maybe you, if some wanting are with different to just high-level currents, to how and sort but

how maybe see, if And airlines sustained positioned think and supply environment? of be economic we this kind Mondee of, hotels, you do curious in channel slowdown of in kind just of your wholesale, So backdrop? more of viewing are private partners, kind type how a the sort might of the

Prasad Gundumogula

Yes, give my let take. you me

for continue We their years been we our our to for those yield partner content more based them come. value valued our And and have to to a add Of we on providing on our many, a our of valued focus bring -- yield can by in to better narrow-cast how be all see suppliers suppliers discussions, the is in their a curves. not broadcasted, to more with to many basis, also access years. partner a

new the market also all as you that And and is -- routes the issues servicing all is recovering, with scale-related capacity well and know, issues. available, And capacity as as the added. comes get the -- more the and the -- it more routes the

without to finding handle published as So transactions historically, to helping we them service have the get the been that customers niche we as well can help issues cannibalizing where markets. their

most -- which in value for their way, the efficient has systems capabilities direct customers ability And to fuel their great connecting service platform, as them. with our technology some directly well as of our unique adds

great it's feel -- in we that we So partnership. a all, all

and our with now, it greater capabilities group of with suppliers even our have our platform of and -- as we We technology addition distribution. user nature well closed it's distribution our the as until

James W. Dullum

Tom, it's Jim Dullum.

because to our have of primary the the fill and of prior just me channel little travel, He's market. also of extended during mind that tends Prasad bear we business the add on can Let them more personal some period which But leisure in fill has travel. can variability them in a pockets what to with We that is booking to help help are term. opaque the short pointed said. out

bookings, tickets seeing in remember, But of months we're sort X are So demand. selling current further cetera, that and a even also and yes, are out. et surge we

again, into partnership feeds future channels and also effectively. with out, we that those as where to So the the yield which manage Prasad them sales helps suppliers continue their pointed for them more give revenue,

Orestes Fintiklis

like the I company. And this is Chairman to of add, points. may X Fintiklis, the add would Vice I Orestes

partner The will an homogeneous. engage in to feeling in channels even reduction supplier in the from of an Mondee. capacity there In excess intuitive the is be be there first like that reality, one this reduction with may not less that interest the opaque is capacity, though

push So airlines directions. in demand and hotels, they want different to

continues at very our is the to fact that Mondee terms of incentives that that be as improved transacting which partner. to well Mondee. we So testimony valuable many the providing suppliers stark the And are they a have are to as

points this The on second made point X pressures, about that macro you one.

which part is an airlines the an and the there Unlike in also driving on that is increase which the in The inflation an value indeed, the increase the cost the hotels first of structure. of driving tickets, Mondee from is which are environment. that, the inflationary unique increased carrying makes like these price, on suppliers a our proposition Mondee are, increased the fuel cost, in personnel sales but pressure is that not costs, inflationary benefiting very we costs increased this is

general point dollar related and believe outbound U.S. that model our beneficial we future. the U.S. other strong highly is business a The recall, will this for pressure reasons to foreseeable environment the continue macro various international business that seeing dollar strong we as very is Mondee's to very because, are is the XX% travel. may you in And

purchasing in that believe the even further we more this and will So growth. hands consumer, anticipate with fuel more the future our we U.S. of power, power

Thomas White

there rebound to one that can and are? here the back of give take the the follow-up, Dan. growth. around more of mentioned on Got between the take kind what what you year, the explaining different drivers think gross I color bit you revenue in you maybe a growth net the that little drivers the appreciate rates half -- behind the just of of maybe of expect the color it. kind and delta That's guess, of Maybe drivers very rate revenue helpful. for I kind the I

certain kind there will more at way? on ancillaries more that resilient meaningful year? Just reopening hotels to that rebounding on coming a in commentary be to or made. curious relative Is -- you last much Is of here of least maybe take it rate kind

Dan Figenshu

which from rebound, picture. a higher as carry a portion hotels of margin. revenue that Yes, come and slice Tom. hotels, represent big And larger believe, mentioned, Thanks, total our will larger we of a

drive take quarters. in rate and future So that helps expand our

story. and that's take will of And certainly so and of of an we take second that important rate XXXX half part part rate an be into XXXX, think important the that

some Other especially important as going the also parts TripPlanet, beginning only side. is on And that as about, our will have side. talked the to and take be subscription are fintechs to But a have business. rate on significant significant impact and as just ancillaries, Unpub products, mentioned, rate, they we take those rate going mentioned, are impact as on those XXX% margin we've take will be

And further up. take even helpful Tom. that's those drive so Hopefully, rate

Operator

Our next Mike Grondahl question comes Northland from Securities. from

Michael Grondahl

Europe? in talk bit Congratulations. you volume where would how flexible, spend pushing that. outperformance basically about Can flexible and pretty keep the And is kind a half. really, us I And to great. in Asia But the if little you imagine then your the the to understand August, marketing is second maybe recovering in that any and be help would in of outperformance July comments on confidence Europe you had or go

Prasad Gundumogula

markets opening primary and of The the July, And of It story European June, all and grow. in to at a market, business. started the are continuing travelers Europe we there, propensity traveling now And we the share are continuing in So restrictions good our XX% areas. of of -- the market those XXXX. and it's first with travel XX%. a reasons the to the have half

and the help strategies market delivering capture deployed strategies to the analytics to go-to we the be content, able to right to our using at time. focus the right customers marketing a to data real-time our on access to market So right very customers, focus on the have tools, agile that and

in opened the are gates who an we take North doing the economy customer they that to And area platform, European access our growth be past. significantly. travel we advantage with And base a from workers which the this to our and of So never America. have able in and also to drives also agencies gig that participate

James W. Dullum

Jim Dullum. it's Mike,

relative we on second will when example when more to they they and relieve travel Asia pandemic of obviously, some the to the predict So the for COVID-related restrictions as open more, issues and an half, can't all related. will up

it will that However, it that we continue improving see signs to signs see is we improve. and further

currently that's that such up. that been in seeing recover expect for as what We since year, large we to the our basis we're have open of in to levels portion they throughout past, the the market. will business markets they those our would the of those to reopen. a So rest expect continue And

second So that if optimism, for that's our performance. half you will,

can focus their focus, areas, that. is a opening. workers, channel, of and emphasize cetera, take they remember where will The the is marketing us and change sales channel, ability for that lot as as our in even markets it through that now affiliates, business is midst opened for other Europe around intermediary different that then the et we the the mentioned, marketing move are the to the programs provide we done thing some that Prasad But will markets our target and other in to agents, gig them to or those of going efforts simply on since channel actively of to

the channel. quickly working is gives to us flexibility what that's around So through move pretty that that

Orestes Fintiklis

Fintiklis. this add, may So I is Orestes

was Asia the we're XX% predicting doubled to Asia that happen. this full the the On is to having and revenues, were revenues, net that the in EBITDA, without and recovery we the doubled was idea throttle. prior of is pandemic, product achieve we're even our Asia. not tripled We almost business the able will making overperformance without really that that point when business that point, the the But

that come 'XX, clearly of that point early more Asia from 'XX whether opens So current is clear up, in the to here upside is it's recovery. when the or levels

to point X basically in matter basically XX% months. for of for European that analyze of from on the on XX% the the made, going to reasons points a a more Now I -- success X you will bit make

are main reasons. X There

to first target has ability The customers. the Mondee that its is one

As marketing you dollars Google, by effectively not our to through net strategy we bunch know, target and a our on specific incentives. -- throw of rate is it is offering to marketing them specific but customers

that increased those saw the we customers. on to travel So of we what recovering, area, sell Europe in we cohorts incentives predominantly focused did that our we when and advisers

The second impact Thank they market, was the European a or this point in either reduce of had much. substantially travel that channels to went of marketing important COVID due share of prolonged in to market. their very, in the opaque many the us you window out business to very market Europe very dollar, which gave increase

Michael Grondahl

pipeline. million, helpful. a maybe get there That's a between is about about flipping is it. what think Got I you've a of What's way can 'XX? with million? a $XX of And kind can targets revenues gotten in you year-end about $XX do to to hey, past, mean strategy, what for case million, robust M&A to, had fair then, these you targets base and year-end? closed the number close possibly we a of you think over a talked $XX your announced by think you way can couple And achieve

Prasad Gundumogula

process that, millions yes, we of targets, it that will business, possible, complete cannot tens acquisition process dollars we but the XXX% Yes. because and in certain for are predict our we diligence, of of not targets accretive it's continue only course, producing is pipeline it done more with agree the there's a in doing both I to currently it, we actively EBITDAs the mean, of our to to be right close in expect months come. manner. very with But that are working of

James W. Dullum

we've just see I well Yes. the all quickly. acquisition, our the Mike, closed you them Once because the platform and make accretive. have them in that can of on XX very from acquisitions bring as would past, can productive as we And extremely add done we

this from does So as to can't We're candidates able very to they'll allow. to see But number working to happen actively be point, positioned to now. results exactly happen. you And quickly as very are quickly can as as will Prasad's we soon start right the of when with expect it make now a process happen, predict us.

Michael Grondahl

it. Gallagher are the relationships. those, how And Arthur I it's partnerships, going? early for those both EBG then but and lastly, of Got know

Prasad Gundumogula

well. going They're extremely

doing of a each this. are to offerings We complementary

have We to technology providing tap not we access. their are distribution into are them providing platforms content networks, to and the they that do and

we of it's good And right for take those a then be know level, XXXX, scratching especially that half the been will which surface great second to come, only now. are in to expect partnerships months the these and we So partnership. the relationships And to us. we next with and both

Orestes Fintiklis

I May here. add a point

week. of they are parts vast results millions capabilities So every distribution that then the in users. and these the sense the in joint have very and of ventures these flights point And organizations, hundreds very symbiotic, material that they producing running, on are are platforms of sold already second up thousands the of with is these relationships

we and focusing the months. that this able few this our the is distribution to So increase energy we're in with next technology, believe networks, rates adoption will within where be we basically our

Operator

Fitzgerald. from Our from Cantor Knoblauch next comes question Brett

Brett Knoblauch

in first call this the on underway. Congrats conference

on more should kind revenue? being implies in side similar we net from seasonality, do of if maybe you think the or to have of curious kind us the how net half about absolute second to terms walk versus through $XXX full of first just those the million year in the or half. half million dollars the assumptions? guidance the Can back for the your What $XXX first you Just less half for is flat

Prasad Gundumogula

the quarters Yes. of I mean X. third the wise, and seasonality level quarter are similar the X third fourth and at quarter is -- quarter

mind quarter, months. intra-quarter advance that holidays is and quarter the the wherein within streams, that we some such recognize revenues the in QX. the being fourth are we of bookings and in based bookings revenue dollar keep of downs as our in in our overhead for ups hence, However, the third done some on there flown And for the revenues please in that and make

to be will quarter are in -- are taking to a -- markets. the come. more shares hence, that size, and and recovery seeing are expecting And quarters similar but third fourth see Overall, -- continuing, seasonality this we is in and we we wise us it's that more for we these outcome be market the quarter in good

Dan Figenshu

I of in will even down of grow allow is but net still the to which line share, to market the in year not quarters, we to year, and own are of to hold that of why reasonable It's least basis. recovery, will with the both that EBITDA and which second we just for wanted just half us will expansion on finish some through feel of lower expectations at the our Fig. sort sort XXXX the continue a gaining the where add half first these compared the

Orestes Fintiklis

I in What may add to always to here points. to be we I add conservative overperform. that ability strive -- with our would If is few assumptions the

our a in revenues of So And is then Omicron impacting And of you the year, one that sense about had of revenue quarter consideration. as that's suppliers. negative end quarters. the is back-ended, we first know, is our back headwinds second from of so relevant X/X the these that future the incentive the the in that pandemic,

Thank picture decided conservative overperform. very for we with, So to to project year that mind, course, with ability of the in this a you.

Brett Knoblauch

you performing? maybe to corporate some spend you No, than return quicker we that Are about think normal their travels Is And returning usual? how to line that maybe Rocketrip what who and should and in utilize of on with corporate business travel? the that then are of that's demand seeing customers for How helpful. terms is Rocketrip, expectations? in seeing

James W. Dullum

Brett, Yes, it's Jim.

Rocketrip spend in customers through recovery to business corporations. our medium to -- So tend corporate that Their larger system. large yes, with seeing of than the we're A recovering is number seeing quickly Rocketrip side. we're in starting the again, on seeing on of travel are small be the customer now more we rate patterns the increase some that of so customers. And are the and travel side, flow

fast pattern as have general the we not recovering, would been they've marketplace. liked but happening to as just that's seen, So in the that's have

add on a to performing customers. the not there, to softness business work huge push is be at we put the honest, have that continuing we simply well, level, that, in and market because add I So general think Rocketrip But on very market.

would because their can about lot one they companies departments. a pandemic what traveling and they travel are that the have would rebuilding are process during of just the think attacked, What -- you areas to weren't expenses. rightsize in imagine were of they the of it, trying I If so

So to will a we've approach. soft previously, But as taken more there now. that of sort happens, emphasize we continue

Prasad Gundumogula

their By we medium the for requiring small have with Rocketrip simplified solutions businesses, and to and Blaze new their travel tool leases to enhancing our systems. business for way, are set

our adding there. and we capitalize and customer is more enhancing to that with required expand from to we're solutions base So the are going for we current And market. Rocketrip that start going feel be to in

Orestes Fintiklis

And here. I a may points add few

we then market That first dollars Europe outbound The the efficient travel, U.S. on marketing of terms, the marketing right at allocate we pulled the focused one is is domestic is initially, that travel, strategy of recovering. when to most the why is that in cycle. then resources in company in on always time international manner the

strong the So on see of the to are and cautiously allocate when way out in our kind corporate dollars, recovery with travel. forecast that, we line the we marketing phasing

is The second only is make product corporate. I would that our not targeting point Rocketrip

travel enterprises, employees. you focused leisure TripPlanet you. product the we revenues has is can medium year. which small the delivered of the the is and an And only X of And and enterprises. as that through is area quadrupling on of focused that we that Thank their organizations, is the corporate travel that medium in first the a but small the these have TripPlanet, months not have that The angle capturing mostly second of see, are membership we and there and

Operator

remarks. Ladies the currently call for back and further gentlemen, any go I questions. we would ahead. no Houston to hand ] [ please to have Jeff, Jeff like Therefore, closing

Unknown Executive

the Thank you you, And that we're happy answer everyone, Mondee for today. joining you up presentation website, on our just investors.mondee.com our and questions to is I call to any have. want investor remind

you. Our e-mail Thank ir@mondee.com. address is

Operator

this gentlemen, Thank call. Thank today's you being us ahead. a you. today. Ladies concludes for day lovely conference and Have with

You now. disconnect lines may your

Mondee (MOND) 15 Aug 222022 Q2 Earnings call transcript