Earnings call transcript Q2 2023

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, and welcome to the Mondee Second Quarter 2023 Earnings Conference Call. 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.

Jeff Houston

Thank you, operator. everyone. morning, good And second conference Mondee’s quarter to call. XXXX Welcome

and Chairman Prasad Portillo, Chief Gundumogula; me for will today and Chief Strategy CEO, Operating Founder, is questions available Officer, Also Jesus With and and Business Vice Orestes and Financial Officer, our Jim results. is Development answers our present Fintiklis; Chairman, who Chief Officer, Dullum.

statements, success, to that difference press press described in Descriptions release management of I general like including could These other further performance reports morning. obligation growth, SEC this government contain subject industry, after revise and forward-looking that our in our as and to are to call actual discussed growth any We that revenue, development conditions. our to these related from everyone Before and to of including filed risks, and and our was remind would the non-historical about we and begin, plans business, assumptions, release. statements and with this may to a product forward-looking our business of occur our uncertainties issued statements our are undertake reflect statements statements risks changes no results that statements evolution this call. our Mondee’s management in economic certain cause forward-looking and the other these have material those

comparable the release, call, non-GAAP measures we which of at measures. most also GAAP available investors.mondee.com. the available During also to the is refer are Reconciliations in press financial

turn it’s Prasad. pleasure to that, to over my With it

Prasad Gundumogula

XXXX business you everyone your earnings developments. welcome are excited results We whether analyst. shareholder, quarter supplier, appreciate shareholders partners, This call second a a and you, morning, our Jeff. prospective or Thank are Mondee’s significant to employee, we to interest, client, discuss to

results Jesus highlights detailed financial business our of review with to and CFO, our our outlook. will call then call I strategy and for today’s begin a Portillo, turn the and over I’ll more

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

key our X, to on Slide results. emphasize three there in are Starting points second quarter

disrupting technology travel through again First, next-gen Mondee market innovation once and AI is the deployment.

the opportunities thrilled released We AI market opening on of as the industry. world pioneers solidifying new integrated the status our a our that travel Travel NASDAQ are listing, and anniversary Marketplace first first Mondee in public fully of

Our highly disrupted XX the this journey a us we has naturally to technology market intersection. the transformational travelers travel successful travel the led suppliers, marketplace of X.X North segment components Mondee the organizations. platform, experts, created In marketplace and American a that significant and past assembled years, for

A.I. our disruptive marketplace, platform travel base Mondee and are social include Gen and released newly freelancers Z vibrant travelers. we millennial our the broadening of to X.X and With the influencers, tech-savvy addressable ecosystem customer

key privately deployed X, tech a in it experts hyper AI generate a leader network content technology Mondee local increasingly content elements a of travelers. and this one-of-a-kind powerful of extensive negotiated Slide personalized to travel. comes modern transformation well as when Moving world-class as experiences, positions as to platform, establishing included This through to for us

assets in to capitalize AI team. marketing these approach this, Because we positioned Mondee of technology This second the series launch us. our that disruptive place, to help a aims of campaigns the marketing a and we to are been years. expanded strategic uniquely the integrated our fully modern not lead industry. have now to Coming are push to of new travel for market has AI we now to few is world-class with all fully bring of platform the advanced position we AI past point, as perfectly positioned XXXX. in robust investing on

rapid AI opened, and a established as assets popularity were: leader our to breakthroughs position in and Bard. quarters, past favorable the first, proven the the ChatGPT market a as generative us AI such Mondee platform These leverage few allowing Google window Over to in developments marketplace.

actively for to and receptive travelers seeking AI are solutions Millennial creating Z personalized Gen Secondly, and travel experiences.

to Thirdly, relevant influencers their followers. experiences social introduce have to media new travel become more

developments, deployment stepping global wider these advanced poised coupled of our experiences programs, we to bring new innovative and marketing a expanded technology, into with With travel to the are audience. realm a content

between As infrastructure. a as technology the justify business building leadership the deploying our and that in We accelerate result, and marketing these AI AI focus the believe decided our curation we to investments Mondee’s symbiotic initiatives. delivery as programs, scope the the well technology, in relationship intensified on travel advancements content

engaging fully through share expect contribute market user in enhanced gains, influencers, thereafter. here more of rate process revolutionary our and revenue investments the facilitate the travelers Our closed air organizations social to further and groups growth profitability improve media will net travel to and XXXX of We incremental quickly. marketplace

grow financially. The well perform third continue point, a we to pace and at fast

organic EBITDA. with X, positive as stellar Turning commitment growth Slide has yet second and excellence. and to our explosive, the of well innovation we our of Culminating in which as are delivered performance Mondee growth financial to another results inorganic Marketplace, exemplifying the proud quarter, into

we In track investment $XX divided the of net second remain gross revenue of XXX% revenue community, Net in with In increasing half by as revenue the QX we this was continue we well. guidance XXXX. of the of the revenue, year, communicated to to XXXX, million first quarter XXXX. on X% X.X% of to and performing of exceeded the second take quarter define rate, which from net

result investing marketplace EBITDA launch. and achieved profitability of expenses additional the is adjusted anticipation in million even the marketing year. of we AI Mondee same EBITDA $X which an of On personnel $X.X million, XXX% of adjusted delivered approximately We the in after last front, this period

guidance shortly. outlook channels. the reasons delve Marketplace into financial insights deeper of and first, like I growth to results our specific Travel on and would potential numbers will additional for Jesus But and the AI our enthusiastic underscore distribution

personal conceived, completely planned a with features of travel the will to marketplace Turning Travel Marketplace innovative and back are Slide booked. range travel that our AI experiences trips and how X, transforming is change

travel cutting-edge Abhi, as travel travel-centric, with experiences. technology, are complete unprecedented our conveniently and AI to influencers, as platform experts We enabling agents as in and personalized unified and conversational create deliver well such content access local with travel commerce, marketplace the

It able sell global experts their of the be any of knowledge to to well. customers type adds expertise to local

For travelers, have that’s crafted intuitive we But by immersive using exploration tools travel driven experiences all. AI. self-service not

further the from We have by travelers step experts world. a taken it on-demand with local around connecting

is Through meaningful. believe that into We our localized AI-driven travelers’ a network adventures. surprising unique bring to to local journey, the mission marketplace, matter. making joy tap curating to At and inspire knowledge experiences experts and the our in touch personal global heart bringing it of add travel these

saving only the empowers while what and influencers platform travel travel to integrated fully With AI today, personal exactly clients marketplace desire, provide their travel experiences. their creating time our experts

always platform expanded car all-in-one wide support growing e-mail. guarantee and with lines, chat and vacation range with access able rental discover the available at our to all and locations XX and to are exceptional one and XX,XXX customer trip rentals, XXX with rates offers at expert of travelers to cruise to our start ensure airlines, XX languages world has that finish, Experts hotels Our travel from over phone, your is been via a network negotiated pickup million available content now in value. their fingertips connected assistance about smooth

have platform. learning, booking is Innovation apart recommendation the fully integrated, generative Mondee our the to commerce process. we power sets AI our AI, with and transform vision engine, truly groundbreaking, is harnessed the and a Marketplace along computer passion, What of deep conversational travel

marketplace, within and additional provide for choices tools our mind. purchases protection fintech ensuring all peace of Our your

Brazil travel leading enhancing acquisitions distribution, continuing to and This our we Skypass, in new is specializing corporate our our Moving Mexico. and international LatAm, earlier SMB announced content and disciplined X, marketplace. Slide acquisition a follows and yesterday, and M&A marketplace, presence our strategy of that this in strengthened accretive year which three announced the travel, adding specifically

continue our Going strategy forward, expand while our operations regions. plan other existing inorganic opportunities to also we exploring in disciplined to

to and the leader position intend our accretively as enhance industry. travel support We and sustainable to growth our leverage a marketplace in global platform

new all improvement, team better all new experts we travelers. all are introducing marketplace technology operations well the support to our our our a of geographies teams to influencers, internally front, our with serve part and operations our customers, as organization as integrating On as across continuous

satisfaction enhancements and operation service ongoing our growth customer of rapid supports of customer and elevates The business. our

very or For our performed BXE example, increase well second our the quarter January. in segment, June with XXX% through in to business enterprise, as measured transactions

transactions, new travel continue We us diversified with increased revenue our as customers. content to flight experience introduce with we and streams and joint confidence to momentum hotel providing

the X. to Moving back to quarter, net-worthy additional accomplishments on in Slide

a as holds Mondee’s business tech strong First in and largest to of the Russell support new additions volume and importance Index, industry. performance, is This entry also base. is among trading XXXX addition while investors. to the our leader recognition testament facilitating technology as in in the a as This and our our fundamentals liquidity visibility development to our liquidity travel reaffirming the enhancing shareholder expected travel diversifying endeavors community, XXXX. Mondee of role It serves awareness shareholder expected raising is long-term investment significant enhance bolstering value, and institutional and stock to

our million, base a over for participation. environment step foster base. shareholder with retaining forward those investor interests offering truly and we our with XX diversifying an management our an was secondary incentivizes ownership $XX.X investors remain valued Next, It shares, of of shareholder welcoming to successful investors. in additional a XX% completed that institutional aligned our Moreover,

marketing mentioned a our background He to in earlier, of play oversee a XXXX. executive Most that marketplace. planning including experience first and our growth-focused Mondee’s significantly AI, half Mehta, crucial initiatives. years, we recently, field of a AI’s approach over and enhanced teams a role emphasizes will Miten strategic Miten have leadership client-centricity, Google, previously professional of generation revenue As in and team With leader joined XX at the results-driven of I in a leadership. brings the AI wealth

joined Fortune XX,XXX projects Consulting Accenture who infrastructure. States, led aid Malaysia, of Executive, transformation scaling including Chief Officer, People India, a bringing on from United as to her HR former Geetika distributed Mondee’s workforce Accenture Singapore and across Gupta, Furthermore, experience geographies, in Mondee XXX the

a coming such Amazon Under now and Abhi, includes media Nortwick customers focus Kymber Lowe’s launched to leadership, online Kristi the including and new The fully and a – now companies to platform around marketing marketing marketing travel to promote has team AI-enabled social Mondee’s the Microsoft, organizations of growth Van members fully CMO team over and XX The from Berg. integrated years. with of welcomed Google, and Rachel company as prospects, influencers, set experts including initiatives substantial experts, the marketplace drive SMBs. team Mondee’s

as such for round AI matter development, subject compliance road as well of out addition, program relationship executive key management, add financial growth, rapid we discipline map management. experts to our infrastructure and continue soft scalable In in we strategy as operational as vendor

well team are an path the Mondee levels of building along We up now profitable of significant all-star to growth. take

call a I Jesus? over outlook. for financial now our the and review of performance will Jesus pass to

Jesus Portillo

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

We the international generated on quarter, results expand the technology enhanced travel geographically market leverage our second capitalize strong Mondee in continues and as to recovery.

of quarter of revenue XXXX, Slide As we present results $XXX we revenue second quarter was of Gross presentation. million XXX% referenced, of summary while our net X on $XX.X second second million was of the XXX% quarter of XXXX. the of

in is to increase continued represents X%. in increase to pre-pandemic a the from expectations substantial our when X% X% and at also rate be substantial of second a XXXX. line quarter, quarter rate levels This It closed Take fintech. with compared travel and of mainly to the streams expansion by driven of in like the revenue during X.X% of diversification take achieved and ancillaries content uptake second hotel the

up in greater and expanding business, events this a XXX,XXX transactions of over continue second of We the quarter to are expect second the and the metric activities. hotels, with XXX,XXX in mix of happy of quarter XXXX, our of with important the addition Furthermore, very momentum XXXX. we with cruises from

versus Turning was of to and marketing X.X% last percentage year. the revenue sales GAAP gross quarter in as expenses, a X.X% same

Marketplace. investment accelerated initially that marketing of on planned AI for capitalize As and was XXXX function we $X approximately million our our to Travel enhance

from net expenses, infrastructure company of new ago, X.X% exceptional incorporated percentage X.X%, a revenue, public as we growth. was as continue supporting G&A, a up year our to the

QX in profitable EBITDA million expenses. we of $X.X XXXX, to despite continue was deliver Adjusted for incremental quarter, as onetime marketing million $X.X the XXX% or growth the of

noncash cost of are $X.X reconciliation non-GAAP basis, including and/or and On million value and associated $X.X of compensation, million new loss of of approximately was available today’s tax of million noncash marketing $XX $X changes as costs million. with $X.X amortization, $X out release. $X.X platform GAAP of a of launch of liabilities, costs, GAAP items approximately Note such AI million net in of stock-based our $XX.X financing million $X.X the provisions, earnings M&A million depreciation in that one-time million million nonrecurring fair earn to and

in was million Comparatively, net loss $X.X QX XXXX. of

basis, non-GAAP last was versus of year. adjusted $X a a On million loss loss $X.X net million

Looking balance at cash approximately $XXX debt and of The had small $XXX increase. at we $XX second quarter quarter, and in respectively, acquisitions to million, the million our XXXX. of decrease end compared capital at cash mainly sheet, the $XX end and first in to million of million due working reserves was of

XXXX Turning growth. and to million net outlook to our continue XXXX revenue $X guidance we’re and our by expect profitable guidance, increasing delivering

growth both from and organic Our recent include inorganic projections Mondee’s acquisitions.

midpoint. of the our expected $XXX Net net revenue to and XXXX million, measured XXX% representing $XXX revenue fiscal range is between at a XXXX million for the year

the second our execution map. mentioned AI to ramp earlier, our investment made marketing the quarter during of up road Prasad and in we accelerated As decision

investments We the We the facilitate share, new this $XX industry over will AI with expect accelerating travel next-gen XXXX around of million market our in capturing those be course to the and revenue disrupting platform. believe growth year.

represent in this measured EBITDA updating we at EBITDA of would range be our guidance to XXXX of our adjusted a to are $XX million, mind, $XX million adjusted the in of midpoint. the all XXX% XXXX With which

over turning X, before new welcome the to call we XXXX. auditor to effective and would like Deloitte Finally, our as Prasad, formally July

Mondee. will the excited experience and very and contribute about We’re to that partnership this capabilities Deloitte

Thank Prasad. you. you now, And over to

Prasad Gundumogula

Jesus. you, Thank

driving of to while the very making quarter AI are in investments with world-class of strong a especially a proud rest an more emerging and importantly, for putting happen, in continuing position this infrastructure exciting beyond. social excited I of on second for our we am the to and technology, entire marketing as more initial the even are travel. force results commerce rapidly Mondee track team making us deliver XXXX and We

poised industry connecting and and travelers social freelancers the is of travel with influencers. its with platform, vacation Mondee modern of network tech millions market traveler of to the expanding led experts, all marketplace, personalization an transforming truly socially rentals next-generation airlines, investments our on media hotels segments collaboration for through with best is now Mondee travel our travel by their penetrate demand AI capitalize increasing rapidly based and experiences. and

solution which channels. a and capacity, With segmented AI-enabled to creation, further enhanced partners. offer our is online also to unique our distribution supply best with by shop provides value the many rapidly network content, supplier solution our trip on fintech not excess only and This unlike comprehensive expanding negotiated ancillary ability our benefit privately of distribution one-stop place but also broadcast full also and

deepening tech we opportunity distribution. next thrilled and now quarters by substantially the us to are before platform, expanding over the our vast several make expanding We progress and and next-gen AI-enabled the content with enhanced and expect

the clover We are approximately uniquely disrupting to and size. positioned continue serving in is billion $X market, once again which

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

Jeff Houston

now. questions for ready we’re Operator,

Operator

MKM. please your Thank Our now question line first go Aftahi ahead. Darren ROTH from open, is comes Darren Instructions] you. from [Operator

Darren Aftahi

taking good Thanks for morning. my Hey questions.

some the on called I one, marketplace, about the out clarification First guys $X $XX million AI kind million in in second the of like commentary the guess quarter. you just investment

of besides that So, the of then is to number, it marketing? be the going that what nature? kind second that’s curious of of made am that does in context is onetime going the assume is And money I the half. in bulk in where sort rationale to investment And

Orestes Fintiklis

you, Thank Darren. thoughts… I some will Yes. add

Jim Dullum

Hi, Darren.

Orestes Fintiklis

add. I’ll and ahead go Jim,

Jim Dullum

industry-leading you platform, now to then just be we was Orestes rebranding. market the – look, going going with I go we’re just this AI I’ll Yes, that, we’re to this and as Yes, go. say really Darren, start to

is So, these with tools going their marketing obviously job followers are travel of get obviously, marketing that of a not of in bring incentives quickly. very that number are investment There launch the all in the travel will will branding. through there but significant to just a really one-time influencers. numbers our providing travel influencers then behind programs them agents our and experts, we to And substantial better, this do going

a I market this that mean is is substantial. window

We properly are that to our excellent advantage believe take it, of we ones platform. the positioned given only tech

to the really in us significant time is ahead for and this so go and get investments accelerate to go And penetration. our

things doing. XXXX. characters are be year full those of to that into the the And our So the of through going put types we're end together now marketing is the a of team this for we've budget managing and

Orestes Fintiklis

more AI add a the XXXX integrated there. project, we fully XXXX what the travel tech addition to Jim. have of more few most there. was new launch one. And be believe thoughts only a team the always And created I the you, to own platform the always was of just but Thank advancements of we and the thanks mean, out a marketplace the to our powerful of AI

So makes being a their marketing platforms, and when few way is a AI capitalizing players market resources deploy it right? years resources maximize develop advantage, now first-mover the before share this own So other marketing. the a first-mover and may to total to additional in and is from having sense to additional deploy advantage this

window there is, a mentioned, opportunity. Another element here as clear Jim is of

of from last have in seen, Microsoft months. quarters. seven And you we individuals the the effectively media from only in we where have have we Asia, are America, We interest expanding the the movement in last travel not but team few built came least, of Latin in now; have in not but geographically, influencers XX this who or Amazon, a addition seen Europe Google, accelerating six and to parts then of U.S., last social their marketing also campaigns seen from

have our new et we experts more of much confident, the And marketing to So that influencers, era on cetera. we feel era customers types social also to an these this of media can quantify team, ours. but is freelancers, the now attract are this we that team necessary campaigns of assembled marketing focus new enhancement to

I if else don't anybody know to on this. has add anything

Jesus Portillo

add. still will So that decision is I the within This understanding XXX% XXXX I contemplate sure made of EBITDA, our the that. would want all also we EBITDA make of also point we Yes. Jesus. I to adjusted right? that probably context of

Prasad Gundumogula

And we is and continuing implementing our anticipate roadmap, to important. AI which invest with in

continue market we innovation-led capturing platform an and that the continue are to AI we do share, while will the We benefits our into financially invest reaping company, our from roadmap. we and/or are to

Darren Aftahi

very helpful. Thank you. That's all

one one the is organic way any what to and was for there duplicate in of kind me; Thank Just last revenue growth EBITDA you. quarter?

Jesus Portillo

know, mean, usually quickly all So platforms. our integrated in as you integrate of acquisitions I and our we get to ecosystem new very

not we So out revenues EBITDA do simple of acquisitions that. as track coming or as new

Orestes Fintiklis

here, mean, Yes. again this just to Orestes. I and highlight is

customers our but precisely content, to necessarily And marketplace. what [indiscernible] this plugged companies, to and buying it's it's is into and strategy that their that buying we're if they we then and pinpoint we own when that us or it own even is because the you is performance into single content, we're are our unified within company, and that are we to comes XX,XXX not company difficult very say is adding So components Our right? selling America their we separately buying then start – one customers flight they components Latin inorganic. content difficult then in content hotel and own buy selling start by our a very the keep giving we marketplace, organic acquisitions to

Darren Aftahi

Thank you.

Operator

Darren. Thanks

question comes line from from Nick next Jones ahead. go now Please your open. JMP Securities. Our Nick, is

Nick Jones

on like investment investment then of full half, revenue Thanks guess like of is probably in just taking from kind Skypass expecting I this of of with kind half coming it looks updated year acquisition? seem kind incremental return questions. It back year. doesn't any the following that you're guidance. the Great. the And the increase up the this for on

incremental I of should return can investment how around time investment kind the you So guess to the half we of kind the product? second help contextualize AI on about and marketplace this of think

Jesus Portillo

for you Thank your Nick. questions. Hi, Yes.

XXX% providing yes, of be So on that but the slightly revenue. would to guidance will the contribute not increase will that of we're represent obviously, – Skypass not

Jim Dullum

also company bringing operation bear-in-mind, Nick, in tuned that well, that, add Jim. that their Yes market. we a market just acquire its have understands team, I'll right, their we're management like an when excellent to

that their doing – of base. out have you great over the take several which to this, acquisitions in, we're technology and bring have are provide that organized, learned had been to customer to then do there allows accretively didn't them all before, with and businesses be them right? successfully years able planned want synergies they Now these We it to from disciplined we very bring what a we've in to is way. But that them

be two- and more, integrated, going plan these say, say, to usually, you fully synergies look immediate synergies the had, that three-quarter to hard. there while this of to get So don't are things we'll at we're so press to a get work-off too like,

So additive results somewhat just them you sure synergies in conservative yes, throw a future the add for day one. the be months, just top make not little, I it's how on to it'd but have and you all to at think, look whatever try in and period let's of say

and So we're so a done over conservative, several having little time successfully years. again more last the generally this

Prasad Gundumogula

a its to get own takes we out always a And platform, quarters and integrate a and remember ramp months companies. a and our brings it it few to challenges, in as settle change few creates those that good change companies to or

contribution adds those components that four some in guidance vision it immediately, a bigger is recent but next while And comes the we're and these into the with to overall focus to on focusing companies of continue results. in in our our our vision, integration help to the organically growth those while results hence, the increase to synergies So fill months. not to huge or acquisition from expect taking the us our and components to and produce

Orestes Fintiklis

only that out And means five, the $X from the answered million-or-so point, second development, I which do few about to Nick's of the to a Skypass Prasad, is can of we we mean that, the your Nick, question, answer are adding back of sufficiently You marketplace the which new just anticipate million been of that first yes, part those part has all adding most so right? it of audiences. this we because – we There a million media sign XXXX XXXX investment influencers, lot learning come to of this the Even basically up, is that in this social are the XXXX. fruit new into are will when targeting is so we the coming and incremental incremental $XX come era the revenue only most part with assuming process. a in of conservatively in incremental small of

as Now more up it's better we much being it but from that this again, mean, end marketplace, may new that I also remind get – to in And our it's is much fourth conservative. listed XXXX, the so raising to but well. you a be quarter reporting since the revenue net to quarter that there been an is that we every segment, and went element single we bidding are in we company right, have public, and public as

Nick Jones

for Thanks taking the questions. Great.

Operator

Nick. Thanks

Fitzgerald. Brett, comes question Please line is from ahead. Cantor open. now next go Brett your Knoblauch from Our

Brett Knoblauch

down first guess if you revenue Thank and for in U.S. question. year-over-year. by I Revenue taking I thanks was just geography. the my the one, maybe XX% at look

XX% So and coming U.S. success from growth like if evaluate were should if acquisitions I b, down year-over-year? were gauge was because, a, successful talk I and I believe, why you growth Brazil, looks Orinter And those organic acquisition you're made, tracking to about from how I me of to can the not? most it are international revenues you that or we or not? just guess, is specifically acquisitions guess came not using guess, acquisition you or which what And inorganic criteria if

Orestes Fintiklis

Yes.

Let relative So chart if certain geography the when the right? part that show me give thoughts. from geographies, point. mean that first a U.S. everything of well, or different revenues is reduces, a get another from the we revenues So right? percentage is the first you that's about comes the few the we in more as I geography,

consideration linked the a will with The a be to success to of acquisitions which substantial the is after in acquisitions, know, – second these itself. part of to seeing ahead acquisition you all future So most point the year earn-outs, you – performance most triggered start form as of of of of regard the right? be metrics of

measure met are one be are those success So earn-outs paid, the right? will this and of the targets acquisition whether of

and most like us importantly, acquiring And companies, and contracts number we three, for said I we effectively customers. acquiring when before, are are

value of our certain So are one they hub. acquired and in a a contract, in targets that that the unified whenever have comparing those hotel contracts the a we better when contract in in a or content sense, we own then we airline, certain incorporate

the we basically, enrich new improve difficult So to entire where experts ability in the the in keep our as U.S. adding of X X success is new Number content Canada? perspective from Number and and to and diversify and the been and geographies the have platform; such acquire travel customers very to them organically,

have thoughts. you know, Prasad, don't other Jim if any I or

Jim Dullum

one correctly, think It's relative of going geography issue, right. and just there think, somewhat. faster, over growth it's I the relative all the right? platforms all I Brett that the mean Orestes, across of of geographic of – moderate platforms. percentage is looking areas the you're at to I it you are mix another hit At are there growing beginning No, if the some a

– may So I what think that that seeing. be you're

Brett Knoblauch

if So the and transactions your XX%, assume U.S. in are transactions revenue international more is in people of are the traveling less should down that quarter? I the U.S. in

Prasad Gundumogula

that market that down. is is down don't not is and market the market the segment numbers that It the I by U.S. of XX% down, actual mentioned. or see mean as is – share but Orestes credit we XX%, Jim it's real [ph]

improvement – see by anticipate for to growing and we way, of a what we historically, wanted which the are customers. and contribute... the our However, that sweet market And and international have share the create good us is fastly. other there markets what as value is are segments to And working a good we market share those for we in a for an

Brett Knoblauch

And Got then if one maybe could. question. I last I and just it, guess

year, guidance back your quarter been we're from different first half relative see a it's net has a to quarter least perspective stronger implies year. basis. on relatively be second revenue seasonality the the the year previous a from puts your takes any at historically of of the or years? largest guess, I to seasonality for the going as half to The a going But year to guess to relative this why I perspective

Orestes Fintiklis

mean I points me there. give is a you This Yes. few Orestes. let

ahead answer. go and Okay, Jim, then I'll

Jim Dullum

there I that, of just again, Yes. Brett, with that some change seasonality international bit little acquisitions part different world. because was parts of are the will the a of is, in different these seasonalities

think about you weather it, example. If as different even an patterns you have

up, we different to with strongly. So because see our But the we've probably part we in a technologies, given the is other of off the segments overwhelm the be little then weren't opening very is the the bit business a the will market just pattern will markets going in new these shift that, what also it organic that we're -- pattern second we all new with introduced previously with in little that is of playing growth what – seasonal simply of seasonal part the seasonality. really that

Prasad Gundumogula

for we for are requests have shopping the we when that high. based see airline the seasonality is – factors other look prices future okay, other trend periods. look price the X% on two travel, two The or cost, and for that other usually people of the adds the the receiving they very tickets factors quarters what the prices the in the to this high, transactional seasonality and is second are quarter, that the impact this options And alternative

the period So we and count is to we this the want continue future believe increase and there. in that supported transaction may which

aspect is the And recovery. second the

of levels. And the are and travel off it so opening, that is and day-by-day. remember that these only recovered coming, more dynamics pre-pandemic more XX% international changing we markets are our So as is

So and it's trends, follow be and the these we the linear that also important not or quarter. would fourth first a believe to and thing than better third into have the or factor in we all to which and changes historical consideration second but second trends quarter

business. And are growing thirdly, a we

the from take about same may from will our doing not we It's more are take market may that different ourselves as plan following be players of we the share market So the effect, and previous numbers The the but about and last share. quarters. we just thinking trend market that. other seasonality increase year be to how having

Over to Orestes. you,

Orestes Fintiklis

points, the think covered and our Omicron quarter. mean, is of And all particularly because that strongest strong if Prasad not mean last last I you I had point. the in was you quarter look one a years at QX. but very in XXXX QX history, is Yes. QX point one our Jim XX I last

have in happened QX, confident which was to lot right? so the So you that, the that that in you QX all stronger in end change as which than add mentioned, add travel variables specifically and be quarter, the for an to three, traditionally mentioned, Prasad itself And you we added, all Mondee of elements have strongest Jim But the that a equation QX, in element towards the happen going will So exceptional of were QX, QX geographies very that concerned, particular. is if of so... the are our in the quarters have we to QX. XXXX, seasonality much that growth four is far as year, these

Brett Knoblauch

Thank future. you the for on Congrats guys quarter. the

Operator

question ahead. line Instructions] Securities. from [Operator Thanks is next your Our Brett. now from open. Northland Please Make Mike Grondahl is go

Mike Grondahl

Hey thanks guys.

$XX couple and or peer between would a investment. mix cost? you personnel million describe more How Just direct questions the on marketing the

the hook marketing in And marketing agents. what influencers I'm just be the then are you will secondly, at would each more say trying understand, the dollars one? targeted And or for to

Jim Dullum

hey I'll it's So Mike, start. I'll – Jim.

part first. if these mean any ones that with, travel, that of people I the Generative are hook population, tech-savvy Millennial, right? Gen have whole buying looking anywhere which now I'll Z vertical. are embraced is let mean, population last in the Gen here Millennial, think is about Z most look to begin significant the have the come for AI in most the all out features you buying I the – whole industry the are So – they they And

of So ability here entire shopping. mean, supporting I little go is et the bit cetera. hook not supporting a the creation, AI you This just experience the is is hyper-local, to this have, AI entire

an be, This building just the more think my as individual is here you right. to it's is of new new about that, when just than way the So experiences, going hook toy. truly the

fully most an our unique to that not here As the is all to so about platform most is expert happening at the service of the is this thing efficiently, traveler, our through it's end-to-end. facilitating or hook because market effectively, just I deployed chain the a support channel way end include mean, the it is,

side. on hook primarily that's the So

other as is thinking investment we're In in as be here, of in of platform. AI the enhancement programs we'll the within to the will terms capabilities continue to and well it the that about deployment the then of way XX% our and of going personnel marketing XX% make continued be

it's generally So that range. in

Orestes Fintiklis

little right? add to just color, of bit And

Mike Grondahl

go Sure, ahead.

Orestes Fintiklis

followers are we mentioned, the they experts, and transactions the through freelancers a right? so And money customers new a make, of look, media to the making So et of tell our I may experts color, their you bit more traveler et you these can you which give then We $XX you is social you before X% all making that Mike; would the book just cetera. platform. are that credit right? and mean, on influencers. transactions gets go marketing on we're first travel the rightly recall that that and credits, So era our, our traveler, now new we'll targeting cetera, focusing them, like a more $X,XXX way it for And they're is XX mostly use credit,

are also and marketing different credits, why XX more in do So with experience campaigns, of with would are to right? opposed this you our we If would educate customer. have market, $XX now this to types platform? the but explains credit? new a need how the team traveler, would to you're know, which individuals era about an know So this you about know influencer, basically as you to an how we marketing expert So existing team additional to performance built know how you if we

Mike Grondahl

overall And then ancillaries that better out any if you on the and rate underlying or quarter, Got it. travel there just detailed worse, one there whether the more; transaction performance, if of kind second it's take was in transactions is to will, cruises, hotels, you or look like commentary the call take rates? anything air at

Jesus Portillo

that hotel that that one the rate. quarter you we of referred to as out take improve. as for the continue offering, main to And driver is things second is probably, to that expanding Mike, improvement on take our I main in point clearly that's continue to think, rate going is

Mike Grondahl

Okay.

Operator

today. for turn over to President. ahead. go Jeff like call to Vice That the concludes Q&A you. Thank the I'd back please Jeff, Senior Houston,

Jeff Houston

was we Sure. Thank who with in you, in further and connect interest earnings your live to or the opportunity really second on replay and call, whether the all our it thanks welcome transcript the for Mondee, tuned to here quarter call, appreciate you. reading XXXX

would Mondee, a If about you to have any us. to like more questions learn please don't or schedule call with hesitate

You can get at you. which our or is more investors.mondee.com to e-mail me IR information Thank send site, ir@mondee.com.

Operator

today's concludes for This you call. participation. Thank your

may disconnect lines. your now You

Mondee (MOND) 15 Aug 232023 Q2 Earnings call transcript