SiteMinder re-accelerates in FY22. Acquires GuestJoy.
SYDNEY, August 23, 2022 /PRNewswire/ — SiteMinder (ASX:SDR) has today published its results for the 12 months ended June 30, 2022 (FY22), demonstrating a continued reacceleration of activity.
Sankar NarayanCEO and Managing Director of SiteMinder, said, “The most pleasing aspect of our FY22 performance was the team’s successful execution of our ambitious new initiatives, laying the foundation for SiteMinder to scale.” and maintain high organic growth. Our product and other initiatives, including the acquisition of GuestJoy, enhanthis our growth opportunities with additional services to existing customers as well as expansion into new customer segments. With our customer lifetime value in Q4FY22 30% higher than pre-COVID levels, despite the resumption of global travel, our initiatives are increasing customer and shareholder value. Our leading multilingual commerce platform and unparalleled global marketing capability,e We are confident to reiterate our growth guidance and further communicate our free cash flow neutralization expectation by Q4FY24 on a quarterly basis. I would like to thank all of our staff, partners and customers again for the resilience and ingenuity they have shown over the past two years.”
22 Year Performance Highlights
(All growth rates are y/y)
- FY22 ARR increased by 25.3% y/y (cc) at $129.7 millionwhich is 27% (cc) higher than the pre-COVID ARR at the end of FY19.
- 2022 turnover of $116.0 millionup 15.0% y/y (cc), and ended the year with growth of 23.4% y/y (cc) in Q4FY22. Americas grew 27.3%, EMEA 21.4% and APAC 0.4% year-over-year (cc) in FY22.
- The number of customers increased by 7% to reach 34.7k in FY22 with the additions weighted towards T4FY22 due to Omicron impacts earlier in the year.
- Improving SaaS Economics with LTV/CAC increasing from 2.1x in FY21 at 3.2x in FY22, and exited FY22 at 3.9x in Q4.
- Increased total ARPU to $291up 13.2% year-on-year (cc) in FY22. Subscription ARPU increased 2% YoY (cc), while Transaction ARPU increased 68.6% YoY (cc). Transaction products purchased by our customers grew 51% year-on-year to reach 13k produced in FY22.
- Underlying free cash outflow for FY22* of 30% of revenue as a result of investments in the reconstruction of GTM and new products.
- Cash available from $117.7 million.
- Agreement signed to acquire GuestJoy, suite of highly rated CRM tools that will deepen and expand the platform’s offerings.
- Reiterates the growth target of 31%**. Waiting at become free cash flow neutral by Q4FY24** on a quarterly basis.
CC = constant currency
* Underlying free cash flow = the sum of the underlying operating cash flow and the underlying investing cash flow
** The achievement of SiteMinder’s growth and free cash flow projections will be dependent on numerous factors beyond the Company’s control, including the substantial reduction in COVID-19 related influences on the hospitality and travel industry and the continued resumption of travel.I.
SiteMinder Limited (ASX:SDR) is the world’s first open hotel commerce platform, ranked among the technology pioneers to open every hotel’s access to online commerce. It’s this central role that has earned SiteMinder the trust of tens of thousands of hotels, in 150 countries, to sell, market, manage and grow their business. The global company, headquartered in sydney with offices at bangkok, Berlin, dallasGalway, London and Manilagenerated over 100 million bookings worth over 35 billion US dollars revenue for hotels in the last year before the start of the pandemic. For more information, visit siteminder.com.