Siteminder Limited · ASX:SDR
Siteminder — Investor Presentation (February 2025)
35 slides from Siteminder's investor presentation, Feb 26, 2025
Slide 1: Investor Briefing: Half year results to 31 December 2024
Investor Briefing Half year results to 31 December 2024 A SiteMinder customer Six Senses Thimphu Hotel and Resort, Bhutan 26 February 2025
Slide 2: Important notice and disclaimer
Important notice and disclaimer 2 This presentation is given on behalf of SiteMinder Limited (SiteMinder) (ASX: SDR) (ACN 121 931 744). By accepting, accessing or reviewing this presentation, you acknowledge and agree to the terms set out in this Important Notice and Disclaimer. Disclaimer To the ma
Slide 3: Important notice and disclaimer (continued)
Important notice and disclaimer (continued) 3 Past performance Past performance information, including past share price information, given in this presentation is given for illustrative purposes only and should not be relied upon as an indication of future performance. Future performance Forward-loo
Slide 4: Business update and key initiatives, Financial results, Q&A
SiteMinder customer Hotel Oderberger, Berlin 4 Business update and key initiatives Financial results Q&A
Slide 5: Presenters
5 Presenters Sankar Narayan Jonathan Kenny Tim Howard CEO & MD COO CFO
Slide 6: Business update
SiteMinder customer Southern Ocean Lodge, Australia 6 Business Sankar Narayan CEO & Managing Director update
Slide 7: H1FY25 key metrics
7 Total H1FY25 annual Total H1FY25 revenue Underlying H1FY25 EBITDA recurring revenue ARR Subscription properties $216.2m 47.2k $104.5m $5.3m 17.2% y/y (cc,org) positive and improving 22.0% y/y (cc,org) 13.5% y/y from $1.2)m in H1FY24 H1FY25 LTV/CAC H1FY25 monthly revenue churn Transaction pro
Slide 8: Accelerating ARR growth and room additions at improving unit economics
Accelerating ARR growth and room additions at 8 improving unit economics Revenue increased 17.2% y/y (cc, organic) to $104.5m, accelerating in Q2. Subscription revenue growth of 11.8% ARR accelerated, growing 22.0% (cc,organic) was impacted by short-term new customer incentives targeting larger hote
Slide 9: Continued progress on 'Rule of 40'
Continued progress on ‘Rule of 40ʼ 9 The Rule of 40 is the sum of a software company’s revenue growth and profit margin. For the purpose of calculating its Rule of 40 performance, SiteMinder defines revenue growth as constant currency organic revenue growth which removes the impact of currency movem
Slide 10: Unit economics continue to improve
Unit economics continue to improve 10
Slide 11: Sustaining strong growth across AMERS and EMEA
Sustaining strong growth across AMERS and EMEA 11 AMERS H1FY24 H2FY24 H1FY25 Revenue $m 24.3 27.0 28.3 y/y (cc, organic) 22.2% 19.6% 20.7% Properties (‘000) 8.1 8.8 9.3 y/y 14.1% 15.8% 14.8% APAC H1FY24 H2FY24 H1FY25 Revenue $m 30.1 31.6 33.8 y/y (cc, organic) 25.5% 22.1% 14.4% Properties (‘000)
Slide 12: Key initiatives
SiteMinder customer Globales Almirante Farragut, Spain 12 Key Sankar Narayan CEO & MD Jonathan Kenny COO initiatives
Slide 13: Market-leading and innovative product suite
13 Market-leading and innovative product suite SiteMinder was again the most awarded product suite with six category wins including Best e-Commerce Platform.
Slide 14: Smart Platform
14 Smart Platform Revenue Optimisation Derived rates Rate plan management Convergence of distribution, intelligence and revenue Intelligence optimisation. Local and global Channel performance Competitor rates Distribution Events OTAs Pace GDS Wholesalers Booking engine Unified experience maximising
Slide 15: Smart Platform - driving ARR acceleration
15 Smart Platform - driving ARR acceleration Dynamic Revenue Plus Channels Plus Smart Distribution Boosts hotel revenue Seamlessly connects hotels Optimisation of hotel performance to a large number of distribution configuration channels Launched and available in ANZ 2,000+ hotels / 100k+ rooms Comm
Slide 16: Technology and Smart Platform transforming the business
16 Technology and Smart Platform transforming the business Go-to-market Technology Data Acquiring high value Reinventing business Powerful customer insights customers to drive GBV processes with AI through data and AI Key initiatives Key initiatives Key initiatives Reallocating resources to target A
Slide 17: Growing global footprint
17 Growing global footprint 85% of revenue comes from customers outside Australia, spread across more than 150 countries. Barcelona office expanded as hub for EMEA operations. Around 50% of employees are located in Asia and Latin America. SiteMinder brought Manila employees in-house in 2023, and ope
Slide 18: Financial results
SiteMinder customer Anantara Dhigu Maldives Resort, Maldives 18 Financial Tim Howard CFO results
Slide 19: ARR growth momentum accelerated through H1FY25
ARR growth momentum accelerated through H1FY25 19 % growth (cc, organic) H1FY24 H2FY24 H1FY25 Subscription revenue 18.5% 14.1% 11.8% Transaction revenue 30.5% 29.6% 27.8% Total revenue 22.4% 19.5% 17.2% % growth H1FY24 H2FY24 H1FY25 Subscription revenue 23.8% 14.3% 9.9% Transaction revenue 36.5% 45.
Slide 20: Sustaining strong growth across AMERS and EMEA
Sustaining strong growth across AMERS and EMEA 20 % growth (cc, organic) H1FY24 H2FY24 H1FY25 AMERS 22.2% 19.6% 20.7% APAC 25.5% 22.1% 14.4% EMEA 18.9% 17.4% 17.3% Total 22.4% 19.5% 17.2% % growth H1FY24 H2FY24 H1FY25 AMERS 26.3% 28.1% 16.1% APAC 26.3% 22.1% 12.2% EMEA 30.3% 23.4% 13.8% Total 27.9%
Slide 21: Attracting larger and higher value hotels, focusing on net room growth
Attracting larger and higher value hotels, focusing on net room growth 21 Subscriber growth Transaction product uptake Net additions of 2.7k in H1FY25, 8% y/y. Uptake of transaction products increased 4.3k during H1FY25. SiteMinder pursued larger hotels. Net rooms added increased by more than 50% y
Slide 22: Unit economics continue to improve
Unit economics continue to improve 22 SiteMinder initiatives to improve efficiency and LTV/CAC Unit economics breakdown H1 FY23 H1FY24 H1FY25 Improving customer Properties 000s 36.6 41.6 47.2 acquisition cost: Monthly ARPU A$ 339 383 391 1 Introducing new GTM processes to improve scalability. Mo
Slide 23: Gross margin improvement across the business
Gross margin improvement across the business 23 H1FY24 H2FY24 H1FY25 Underlying subscription GM increased 31 Subscription gross margins basis points from H2FY24 to 85.5% in Subscription revenue 60,333 62,045 66,333 H1FY25. The increase reflects ongoing Subscription related expenses 9,031 9,283 9,639
Slide 24: Operating leverage continues across sales, marketing and product
Operating leverage continues across sales, marketing and product 24 Sales & marketing as a % of revenue Product development cost (opex and capex) as a % of revenue With revenue almost doubling the last three years, SiteMinder continues to see OPEX in sales, marketing, and product development benefit
Slide 25: Underlying functional income statement
Underlying functional income statement 25 A$‘000 H1FY24 H1FY25 Sales and marketing costs increased 2.7% y/y in H1FY25, Revenue 91,722 104,453 compared to the 13.9% increase in revenue. Optimisations were made to teams and resource investments were Cost of sales 29,857 34,615 repurposed as part o
Slide 26: Cash flow performance
Cash flow performance 26 A$‘000 H1FY24 H1FY25 Reported operating cash flow improved $4.3m y/y, from $1.5m in H1FY24 to $5.8m in H1FY25. Reported EBITDA 2,156 348 Share based payment expenses 6,203 6,262 Changes in working capital and other items had a $0.8)m Changes in working capital and other i
Slide 27: Outlook
SiteMinder customer Six Senses Zil Pasyon, Seychelles 27 Outlook SiteMinder, with the Smart Platform strategy, is targeting 30% organic annual revenue growth in the medium term. SiteMinder expects to be underlying EBITDA and underlying free cash flow positive in FY25, and make continued progress on
Slide 28: Q&A
SiteMinder customer Tierra Atacama, Chile 28 Sankar Narayan CEO & Managing Director Jonathan Kenny COO Tim Howard CFO Q&A
Slide 29: Appendix
SiteMinder customer the cōmodo, Austria 29 Appendix
Slide 30: Underlying income statement
Underlying income statement 30 A$‘000 H1FY24 H1FY25 y/y % y/y $'000 Underlying employee benefits decreased by 3.0% or Revenue 91,722 104,454 14 % 12,732 $1.7 million y/y to $53.6 million. The reduction reflects work to reallocate resources and globalise the Other income & Net FX gain 361 12 1
Slide 31: Income statement – reconciliation of underlying and reported income
Income statement – reconciliation of underlying and reported income 31 A$‘000 Notes H1FY24 H1FY25 Notes Reported loss after income tax 14,859 13,893 1 Restructuring costs relate to work to reallocate Restructuring and other costs 1 434 4,915 and focus resources on key capabilities to drive long-
Slide 32: Cash flow – reconciliation of underlying and reported free cash flow
Cash flow – reconciliation of underlying and reported free cash flow 32 A$‘000 Notes H1FY24 H1FY25 Notes Reported Operating Cash Flows 1,508 5,798 1 Restructuring costs relate to work to reallocate and focus resources on key capabilities to drive long-term value and sustained profitable growth. Repo
Slide 33: Glossary
Glossary 33 Annual Recurring Revenue ARR Monthly ARPU ARR is the prior monthʼs recurring subscription revenue multiplied by 12 and the prior Average revenue per user (or property) measures the average revenue from quarterʼs transaction revenue from subscriber customers multiplied by four (assuming
Slide 34: Investor relations and media enquiries
Investor relations Media enquiries Paul Wong Maria Cricchiola investor.relations@siteminder.com media@siteminder.com
Slide 35: siteminder.com/investor-relations
siteminder.com/investor-relations