RateGain Travel Technologies Management Meet Update - Gaining Momentum At Rapid Pace: Prabhudas Lilladher
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Prabhudas Lilladher Report
We hosted RateGain Travel Techologies Ltd.’s management to understand the business performance amid Covid-19 third wave and company’s future strategy. In Q3 FY22 strong travel demand in key markets led to strong revenue growth of 55% YoY, resulting in 40% YoY growth in nine months-FY22.
Management mentioned that the demand continues to inch towards pre-Covid-19 levels in U.S. (~65% of revenue) and UK, despite ongoing Covid-19 third wave.
This is also reflected in highest number of new contract wins, growth of 215% YoY in Q3 FY22 and 131% YoY in nine months-FY22 with total bookings of $10 million (same as pre-Covid average bookings).
As 75% of its revenue is subscription based and rest transaction based, RateGain Travel Technologies expects minimal impact on revenue growth because of Covid-19.
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