Hi guys, I'm inviting you to present reasons for why you think a person who should invest in Serko (I'm asking for a friend haha). Is it because of their rapid revenue growth?
Here's where I'm coming from:
1.1 I'm an investor in Webjet (ASX:WEB) who have indicated dashboard results in FY19 Presso of $3.8b TTV (up 27%), $366m revenue (up 26%), $124m EBITDA (up 43%), $81m NPAT (up 46%). EBITDA margin 33%.
1.2 So I'm evaluating SKO in like of WEB metrics which don't perfectly correspond.
(WEB is a different company which covers B2C and B2B and has a blockchain solution which helps synchronize many online travel agencies (OTAs) to have live inventory numbers. WEB is not really primarily an OTA itself, but is focusing on B2B, acting as an interface between many hotels, agencies.)
1.3 Serko's FY19 metrics from my analysis are: (?) TTV (up ?%), $24.6m revenue (good: up 28%), $2.6m EBITDAF (up 19%), $1.6m NPAT (up ?%). EBITDAF margin 10.5%. R&D $9.2m (39% revenue, so SKO seems very focused on future growth/competitive advantages).
2. How are shareholders valuing Serko's Booking.com deal?
3. With SKO's $100m revenue goal, what is the profitability goal to go along side that?
4. What's SKO's focusing the R&D on?
Thanks for any reflections/help in evaluating SKO.
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