Mondee reports Q1 adjusted EPS (15c) vs. (7c) last year

Reports Q1 revenue $58M, consensus $55.23M. Gross bookings of $708.1M for the quarter, an increase of 6% compared to $668.1M in the first quarter of 2023. “Mondee is pleased to announce a strong start to 2024, with another record first fiscal quarter in both net revenues and adjusted EBITDA terms, with net revenues growth of 16% year over year. Take rate continued to grow by 10% year over year as a result of further expansion in product and geography of our marketplace, driven by our innovative AI tech platform. This allows us to increase our net revenue guidance for the year. Looking into the next few quarters, we continue to enhance and deploy Mondee’s AI capabilities in every aspect of our business with exciting innovations in the pipeline,” said Founder, Chairman, and CEO Prasad Gundumogula.