• Total H1FY25 ARR of $216.2m, up 22.0% y/y (cc, organic)
• Subscription properties grew 13.5% y/y to 47.2k
• Underlying H1FY25 EBITDA positive at $5.3m, improving from ($1.2)m in H1FY24

SiteMinder reported strong H1FY25 results, with total H1FY25 ARR of $216.2m, up 22.0% y/y (cc, organic). Subscription revenue grew 11.8% y/y (cc, organic), impacted by short-term new customer incentives targeting larger hotelier customers, while transaction revenue grew 27.8% y/y (cc, organic), including contributions from the Smart Platform. Subscription ARR grew 15.3% y/y (cc, organic), and transaction ARR grew 37.0% y/y (cc, organic). The company added 2.7k net new subscription properties in H1FY25, up 8% y/y, with net room additions increasing by more than 50% y/y as SiteMinder focused on acquiring larger, higher-value hotels. Underlying H1FY25 EBITDA was positive at $5.3m, improving from ($1.2)m in H1FY24, with the company making progress on its Rule of 40 metric, which improved to 19.2% on a rolling 12-month basis. SiteMinder continues to invest in its Smart Platform, which is driving ARR acceleration, and is expanding its global footprint, with around 50% of employees now located in Asia and Latin America.

SiteMinder is targeting 30% organic annual revenue growth in the medium term, aided by contributions from the Smart Platform. The company expects to be underlying EBITDA and underlying free cash flow positive in FY25.