Siteminder Limited · ASX:SDR
Siteminder — Investor Presentation (February 2026)
49 slides from Siteminder's investor presentation, Feb 25, 2026
Slide 1: Investor Briefing
1 Investor Briefing Half year results to 31 December 2025 25 February 2026 SiteMinder customer Six Senses Residences Courchevel, France
Slide 2: Important notice and disclaimer
2 Important notice and disclaimer This presentation is given on behalf of SiteMinder The information in the presentation is of a general nature Not financial product advice or offer Limited (SiteMinder) (ASX: SDR) (ACN 121 931 744). By only, does not purport to be complete and is not intended This pr
Slide 3: Important notice and disclaimer (continued)
3 Important notice and disclaimer (continued) Currency Other than as required by law, although they believe Market share information All amounts in this presentation are in Australian dollars there is a reasonable basis for any forward-looking All market share information in this presentation is bas
Slide 4: Agenda
4 Agenda 01 02 03 04 Business Key Financial Q&A update initiatives results Sankar Narayan Jonathan Kenny Tim Howard CEO & MD COO CFO
Slide 5: Business update
5 01 Business update Sankar Narayan CEO & MD SiteMinder customer Capstone Hotel Management, Portage Resort, New Zealand,
Slide 6: The world's best hotel eCommerce platform - four years running
6 The world’s best hotel eCommerce platform - four years running SiteMinder was again awarded six category wins including Best eCommerce Platform and the overall Hotelierʼs Choice Award
Slide 7: H1FY26 key results: ARR, revenue, EBITDA
7 Total H1FY26 annual Total H1FY26 revenue Adjusted H1FY26 EBITDA recurring revenue (ARR) Properties $280.3m 53.0k $131.1m $12.3m +23.0% y/y (cc,org) more than doubling from +27.4% y/y (cc,org) +12.3% y/y $5.3m in H1FY25 H1FY26 LTV/CAC H1FY26 monthly revenue churn ARPU Adjusted H1FY26 free cash flow
Slide 8: Smart Platform momentum driving strong growth, more than doubling EBITDA
Smart Platform momentum driving strong growth, 8 more than doubling EBITDA and strengthening unit economics Accelerating Growth (cc,org*) Key Performance Summary ARR Revenue Multiple dimensions driving sustained long term profitable growth - featuring property growth 27.4% 23.0% (+12.3% y/y), ARPU e
Slide 9: Smart Platform driving transaction acceleration and margin expansion
Smart Platform driving transaction acceleration 9 and margin expansion SiteMinder’s Smart Platform delivered Smart Platform driving gross margin expansion accelerating outperformance to global travel SiteMinder’s Transaction Revenue Growth vs Global Travel SiteMinder’s Transaction Adjusted Gross Mar
Slide 10: Revenue performance tracking ARR momentum
10 Revenue performance tracking ARR momentum SiteMinder’s Historic ARR and Revenue Growth (cc,organic) ↗ SiteMinder’s ARR growth has historically been a good indicator of future revenue growth momentum ARR / Revenue growth spread due to: ● Accelerating momentum ↗ Revenue growth accelerated, closing
Slide 11: Continued progress on the 'Rule of 40'
11 Continued progress on the ‘Rule of 40’ SiteMinder 'Rule of 40' performance since IPO 26.4% 16.4% 17.7% 25.2% 10.8% 19.2% The Rule of 40 is the sum of a software company’s revenue growth and profit margin. SiteMinder presents its Rule of 40 performance under two methodologies: (i) Free Cash Flow a
Slide 12: SiteMinder - at the centre of global hotel commerce
SiteMinder - at the centre of global hotel commerce: 12 Independent hotels choose a neutral platform to execute across all channels simultaneously 400+ Hotel systems (PMS, CRS, RMS) 100+ Hotel applications Apps extending product Hotel front desk systems / capabilities, e.g. review business managemen
Slide 13: SiteMinder - Global infrastructure that executes bookings
SiteMinder - Global infrastructure that executes bookings 13 Synchronises pricing and inventory in real time while transmitting securely Hotels SiteMinder Distribution Platform Channels Channel Manager 53,000 135m Smart Platform ~100b 450+ Independent properties Reservations and Communications Distr
Slide 14: High barriers to replication
High barriers to replication: 14 Certified integrations, deterministic workflows and zero tolerance for execution error Independent hotel connections are Distribution connections are non-standardised, fragmented and messy fragmented and require high fidelity Aged and fragmented technology stack SiteMin
Slide 15: AI increases complexity - and amplifies the cost of errors
AI increases complexity - and amplifies the cost of errors 15 Dynamic pricing and higher change velocity increases the need for reliable execution infrastructure AI transforms discovery and increases Smart Platform unlocks advanced pricing, pricing and inventory complexity — raising inventory and dis
Slide 16: Revenue Control Centre
SiteMinder Revenue Control Centre: A System of Action for Hotel Revenue 16 Turning AI-driven insights into synchronised pricing, inventory and distribution actions REVENUE CONTROL CENTRE $85b+ 2.5m+ gross booking value* rooms 135m 250m+ reservations* room nights* *Annual activity levels for the 12 m
Slide 17: AI expands SiteMinder's monetisation per property
AI expands SiteMinder’s monetisation per property: 17 Greater pricing sophistication and transaction intensity increases SiteMinder’s value capture SiteMinder Product Revenue Model Favourable AI Dynamics Per Property. Expanded distribution, increasing complexity of rate plans and frequency of Channe
Slide 18: AI amplifies the moat around SiteMinder's execution network
AI amplifies the moat around SiteMinder’s execution network 18 As discovery expands, neutral synchronisation of finite inventory compounds advantage. Neutral Inventory Network at Scale Inventory Synchronisation Infrastructure SiteMinder synchronizes 2.5m+ rooms across 53,000 hotels, 150+ countries Sit
Slide 19: Key initiatives
19 02 Key initiatives Jonathan Kenny COO SiteMinder customer Minor Hotels, Anantara Kihavah, Maldives
Slide 20: The Revenue Control Centre: System of action delivered through the Smart Platform
The Revenue Control Centre: 20 System of action delivered through the Smart Platform Dynamic Revenue Plus ⬤ ⬤ ⬤ ⬤ Channels Plus ⬤ ⬤ Smart Distribution ⬤ ⬤ ⬤
Slide 21: Smart Platform: All three pillars continuing to scale
Smart Platform: 21 All three pillars continuing to scale Smart Distribution Program Channels Plus Dynamic Revenue Plus Facilitating and optimising direct Connecting hotels to multiple Equipping hoteliers with the ability to connections between SiteMinder’s channels with just one setup assess and rea
Slide 22: Dynamic Revenue Plus: Strong early validation and tracking ahead of expectations
Dynamic Revenue Plus: 22 Strong early validation and tracking ahead of expectations Monetisation, ARR and revenue Encouraging customer Initiatives to drive further ahead of expectations engagement behaviours momentum Customer additions accelerated Deep customer engagement with UltraSync build progre
Slide 23: Smart Distribution Program: Increasing transaction intensity across the network
Smart Distribution Program: 23 Increasing transaction intensity across the network Strengthening Optimising Advancing Technology partnerships Performance Capabilities Increased scope for collaboration Delivering economic value through Implementation of ‘next best action’ with partners, allowing Site
Slide 24: Channels Plus: A growing global inventory marketplace
24 Channels Plus: A growing global inventory marketplace Distribution channels Properties Effortless access to more inventory and up-to-date content Effortlessly expand distribution with ‘one connection’ 47 24 ~7k ~300k Partners Partners Properties Rooms on contracted in-discussions contracted Channel
Slide 25: Channels Plus enhancements: Driving TAM, flexibility and efficacy
25 Channels Plus enhancements: Driving TAM, flexibility and efficacy Optimisation Increased Flexibility Expand TAM Helping hoteliers design and Targeted rate plans and modifiers Additional net rate support activate rate plans by channel Optimisation initiatives are delivering Currently it’s a one size
Slide 26: AI-embedded across the Smart Platform
AI-embedded across the Smart Platform: 26 Powering property performance, enabling monetisation Intelligence Optimisation Automation Proprietary longitudinal data and AI models Applying AI to optimise revenue performance Convert intelligence into generating revenue intelligence that across dynamic de
Slide 27: AI-driven operating leverage and scalable cost structure
AI-driven operating leverage and scalable cost structure 27 Efficiencies enable delivery of AI initiatives within existing cost and investment plans Sales & Marketing Customer Support Data & Technology Improving lead conversion and sales Reduce support cost per property while Accelerating product inn
Slide 28: Financial Results
SiteMinder customer The Comodo Hotel, Austria 28 03 Financial Results Tim Howard CFO
Slide 29: Smart Platform driving revenue and ARR momentum
29 Smart Platform driving revenue and ARR momentum Revenue Composition (A$m) ↗ Total revenue grew 23.0% y/y (cc, organic), accelerating from 21.0% in H2FY25. ○ Subscription revenue grew 14.0% y/y (cc, organic), accelerating from 13.1% in H2FY25 as the impact of short-term new customer incentives eas
Slide 30: Delivering strong growth across all regions
30 Delivering strong growth across all regions Revenue by Region (A$m) ↗ All regions exhibited strong growth ↗ APAC and EMEA accelerated reflecting resilient travel trends and contributions from the Smart Platform initiatives. ↗ AMERS sustained its strong momentum as contributions from the Smart Pla
Slide 31: Focus on higher value properties
31 Focus on higher value properties Property Net Additions by Region Transaction Product Uptake Property growth Transaction product uptake Net additions of 2.9k in H1FY26, consistent with recent periods Uptake of transaction products increased 9.4k from H1FY25 to 40.0k in H1FY26 SiteMinder continued
Slide 32: Higher value customers at increasingly attractive unit economics
Higher value customers… 32 at increasingly attractive unit economics Customer Lifetime Value (LTV - A$) LTV / CAC Customer Acquisition Cost (CAC - A$)
Slide 33: Unit economics continue to improve
33 Unit economics continue to improve SiteMinder initiatives to improve efficiency and LTV/CAC Unit economics breakdown H1FY24 H1FY25 H1FY26 Improving customer Properties (000s) 41.6 47.2 53.0 acquisition cost: Monthly ARPU (A$) 383 391 435 1 Introducing new GTM processes to Monthly revenue churn (%)
Slide 34: Gross margins expand on scale, efficiencies and Smart Platform
34 Gross margins expand on scale, efficiencies and Smart Platform H1FY25 H1FY26 ↗ Adjusted subscription GM increased 125 Subscription gross margins basis points from H1FY25 to 86.7%. This Subscription revenue 66,333 78,056 was driven by scale, operating leverage, Subscription related expenses 9,639 1
Slide 35: Investing strategically and driving improved efficiency
35 Investing strategically and driving improved efficiency Sales & Marketing as a % of Revenue Product Development Cost (Opex and Capex) as a % of Revenue ↗ SiteMinder has invested for growth through expanding and enhancing its global operating model and product development. AI deployment within the
Slide 36: Adjusted functional income statement
36 Adjusted functional income statement A$‘000 H1FY25 H1FY26 ↗ Sales and marketing costs increased 20.0% y/y to $35.7m in H1FY26, Revenue 104,453 131,099 compared to the 25.5% increase in revenue. This reflects ongoing Cost of sales (34,615) (42,154) productivity enhancements to SiteMinder’s go-to-m
Slide 37: Cash flow performance
37 Cash flow performance A$‘000 H1FY25 H1FY26 ↗ Reported operating cash flow improved $11.6m y/y to $17.4m in Reported EBITDA 348 11,476 H1FY26. Share based payment expenses 6,262 5,412 501 Changes in working capital and other items contributed $0.5m to Changes in working capital and other items (812
Slide 38: Multiple growth engines driving ARR growth in FY26
38 Multiple growth engines driving ARR growth in FY26 1 2 3 4 5 Property growth Transaction Smart Dynamic Channels Plus product adoption Distribution Revenue Plus enhancements Program ramp acceleration Growing net Growing product Incremental revenue Accelerating Improving bookings property additions
Slide 39: Substantial value unlock opportunities
39 Substantial value unlock opportunities GBV value unlock ** 1.5% + opportunity $85b+ at full attach Gross Booking Value 5x Smart Platform opportunity contributing 3x 250m+ Room Nights Current GBV 0.3%* value unlock SiteMinder has significant value unlock opportunities within its existing customer
Slide 40: Outlook
SiteMinder customer Southern Ocean Lodge, Kangaroo Island, South Australia 40 Outlook Building on the 27.4% ARR growth (cc, organic) delivered in H1FY26, SiteMinder expects continuing strong ARR growth through H2FY26, underpinning sustained revenue growth and further improvement in adjusted EBITDA,
Slide 41: Q&A
41 04 Q&A Sankar Jonathan Tim Mike Narayan Kenny Howard Rogers CEO & MD COO CFO Co-Founder and SiteMinder customer Potato Head Studio & Suites, Bali Chief Data Officer
Slide 42: Appendix
SiteMinder customer Six Senses Rome, Italy 42 Appendix
Slide 43: Regional Performance
43 Regional Performance Americas 1H25 1H26 Regional Revenue Performance (A$m) Revenue ($m) 28.3 34.0 y/y (cc, organic) 20.7% 19.1% Properties (‘000) 9.3 10.4 y/y 14.8% 11.8% APAC 1H25 1H26 Revenue ($m) 33.8 41.1 y/y (cc, organic) 14.4% 22.5% Properties (‘000) 15.1 17.3 y/y 7.9% 14.6% EMEA 1H25 1H26
Slide 44: Adjusted income statement
44 Adjusted income statement A$‘000 H1FY25 H1FY26 y/y (%) y/y ($'000) ↗ Direct Transaction Costs increased 31% or $7.8m y/y to $33.0m. This was less than the 39% growth in Revenue 104,454 131,099 26 % 26,645 transaction revenue, reflecting the lower direct cost Other income & Net FX gain (12) 54 (55
Slide 45: Income statement – reconciliation of adjusted and reported income
45 Income statement – reconciliation of adjusted and reported income A$‘000 Notes H1FY25 H1FY26 Notes Reported loss after income tax (13,893) (4,780) Restructuring costs relate to work to reallocate and Restructuring and other costs 1 4,915 862 1 focus resources on key capabilities to drive long-ter
Slide 46: Cash flow – reconciliation of adjusted and reported free cash flow
46 Cash flow – reconciliation of adjusted and reported free cash flow Notes Restructuring costs relate to work to reallocate and 1 focus resources on key capabilities to drive long-term value and sustained profitable growth. A$‘000 Notes H1FY25 H1FY26 Key initiatives include: Reported Operating Cash F
Slide 47: Glossary
47 Glossary Annual Recurring Revenue (ARR) Monthly ARPU ARR is the prior month’s recurring subscription revenue multiplied by 12 and the prior quarter’s Average revenue per user (or property) measures the average revenue from each transaction revenue from subscriber customers multiplied by four (ass
Slide 48: Investor relations
48 Investor relations Media enquiries Paul Wong Luke McCabe investor.relations@siteminder.com media@siteminder.com
Slide 49: siteminder.com/investor-relations
49 siteminder.com/investor-relations