SiteMinder Limited (AU:SDR) has released an update.
SiteMinder Limited has reported a significant 23.3% year-over-year revenue increase to $46.0m in Q3 FY24, driven by strong adoption of its meta search offering, Demand Plus, and continued subscriber growth. The company has nearly reached break-even, with a minor underlying free cash flow loss of $0.2m, which marks a notable improvement from the previous year. Additionally, SiteMinder has deepened its partnership with Trip.com Group, commencing the pilot for Channels Plus, which is set to redefine revenue management for hoteliers with the help of AI and will be gradually extended to around 1,000 hotels.
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