RateGain records 57% revenue jump at Rs 2,582 mn

RateGain Travel Technologies Limited, a global provider of SaaS solutions for the hospitality and travel industry, has registered revenue of Rs 2,582 million in Q3 FY22-23 compared to Rs 1,790 million for Q3 FY21-22. The company has clocked a 57 per cent YoY growth when compared to Q3 of previous fiscal.

The company also reported EBITDA and PAT, adjusted to exclude amortisation on acquisition cost for the quarter at 10.7 per cent (Rs 106.3 million) and 6.3 per cent (Rs 62.8 million), showing considerable improvement compared to both YoY and QoQ levels.

During the quarter, the company has added 778 new clients and an recorded an overall 215 per cent growth in new contracts, compared to the previous fiscal. The company continues to have strong customer relationships that are helping in building predictive, stable and sustainable revenue streams.

Recurring revenues for the quarter stood at 98 per cent and Net Revenue Retention at 120 per cent, which has helped in improving the LTV to CAC ratio, a key SaaS metric that calculates customer life-time value by 32.9 per cent to 11.3 when compared to the previous fiscal.

"The last quarter was characterised by strong growth momentum, new subscriptions and overall business resilience. We are confident about our future growth as we have delivered our biggest quarter in terms of new sales and continued to improve our key performance indicators", said, Bhanu Chopra, Founder, RateGain Travel Technologies.

"The key to our growth is to effectively cater to the new use-cases in the industry, which have emerged in the post-pandemic world. Through our new AI powered products as well as our recent acquisition of myhotelshop, we are looking at expanding both our mindshare and wallet share with our customers", he added.