The following is a summary of the Mondee Holdings, Inc. (MOND) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Mondee reported a net revenue of $222.3 million in 2023, marking a 39% growth.

• Gross bookings for 2023 stood at $2.6 billion, up by 19%.

• Adjusted EBITDA for 2023 was $21 million, nearly double that of 2022.

• Take rate expanded from 7.4% in 2022 to 8.7% in 2023, and peaked at nearly 10% in Q4.

• Q4 2023 saw gross bookings of $619 million, a 24% increase, and net revenue increased by 78% to $61 million.

• While marketing spend as a percentage of net revenue decreased, operating expenses increased by 49% due to investments in AI technology and business expansion.

Business Progress:

• Mondee significantly diversified its travel market geographically and across different niches of the travel industry, with air travel accounting for 57%, and other areas like hotels, FinTech, and others making up the remaining 43%.

• The company launched an AI-powered travel platform called Abhi, invested greatly in AI technology, and plans to further strength the AI platform based on feedback.

• Geographically, Mondee expanded within North America and forayed into South America.

• Strategic acquisitions and partnerships contributed significantly to business growth. The company also expects high organic growth of close to 100% in 2024.

• Mondee aims to enhance profitability and generate free cash flow in the next financial year by optimizing its capital structure and refinancing to reduce interest payments. The strategy also includes targeting specific consumer groups by leveraging improvements in AI technology.

More details: Mondee Holdings IR

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