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On an annual basis, the company registered a 46 per cent YoY growth in revenue at INR 3665.9 million in FY22 vis-à-vis INR 2507.9 million in FY21
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RateGain Travel Technologies, a global provider of SaaS solutions for the hospitality and travel industry on Tuesday announced its financial results for Q4 FY22 and annual results for the year ending March 31st, 2022.
On an annual basis, the company registered a 46 per cent YoY growth in revenue at INR 3665.9 million in FY22 vis-à-vis INR 2507.9 million in FY21. The company also reported PAT adjusted for amortization on acquisition at INR 317.9 million and EBITDA adjusted for ESOP and FX costs at INR 376.8 million for FY22.
For the Quarter ending March 31st, 2022, the company registered a 50.6 per cent YoY growth in revenue at INR 1078.8 million and strong growth in adjusted PAT at INR 177.8 million, and adjusted EBITDA at INR 126.2 million.
"The growth was driven on the back of new contract wins growing by 141 per cent YoY to INR 1044 million, and annual recurring revenue going higher than pre-Covid levels at INR 4315 million. The company continues to strengthen its enterprise relationships by expanding its wallet share and improving the key SaaS metric of LTV to CAC TO 12.9. Recurring revenues for the year continue to stay strong at 98 per cent with net revenue Retention at 114 per cent," read the press statement.
"Our focus last year was to drive growth back to the pre-pandemic levels and at a run rate basis, we have exceeded the same. New product innovation, partnerships, and strengthening our technology layer all contributed significantly to this growth. Our goal for FY23 is to build on this momentum and execute to expand our market share. We continue to stay optimistic about our growth and committed to delivering on the promise we have made to our shareholders,” said Bhanu Chopra, Founder, RateGain Travel Technologies.