Serko, a corporate travel and expense management provider, announced that its total income for the first six months of its fiscal year (for the period ending Sept. 30) was up 87% to $36.3 million, reflecting high revenue growth across managed and unmanaged travel.

Darrin Grafton, CEO, said the first-half result “reflects our focus on maximizing growth from the travel recovery, materially growing revenue under the for Business partnership and putting Serko on a clear path to profitability.” He said the company is executing according to its plans and is now “strengthening the depth of its capability and building a scaled and globally competitive business.”

Business Travel News Promo

Other results included:
  • Online bookings: 2.5 million, up 26%
  • Completed room nights on for Business: 1.3 million, up 192%
  • EBITDA (earnings before interest, taxes, depreciation and amortization): loss of $0.8 million, a 96% improvement
  • Net loss after tax: $7.2 million, a 64% improvement
  • Average monthly cash burn: $0.6 million, an 84% improvement
The company also Increased its full fiscal year guidance for total income to $67 million.