Mondee Holdings, Inc. (NASDAQ:MOND) Q4 2022 Earnings Call Transcript

I mean, there was a report yesterday, about the hotels and airlines finding it much easier to recruit. But more importantly, we see it on the CapEx side. I mean, you see giants like India, they announced the acquisition of 470 aircrafts, which is the biggest order in the history of aviation. So, clearly in ’23 and ’24, we expect excess supply to increase, which as you know is positive for our business and is more impactful than the slight kind of devaluation that we have seen in the U.S. dollar, which is natural, after a year and a half of continuous appreciation, it’s only natural. There is a bit of a change there. Jim, I don’t know if you can?

Jim Dullum: I will just — the only thing I would add to that is, is that, the whole pent-up demand that we’ve all been talking about through most of last year, it was not entirely satisfied. Right now, the character that might have changed a little, and the groups that will step out first will change a little. But as the dollar is moderated, we don’t see that as anything. As a matter of fact, we see it in some of these groups as helping. So, we think that pent-up demand will continue to make its way out. Maybe not as a straight line, bottom left to upper right that everybody had thought, but generally that trend we expect to continue.

Mike Grondahl: Got it. And then just lastly, anything to call out in some of your newer subscription businesses or in some of the partnerships that you’ve talked about in the past, EBG or Arthur Gallagher? Any relevant update?

Prasad Gundumogula: The one thing I guess we could add there is, starting in fourth quarter, we started to focus on better penetration if you’ll, or faster penetration of that 125 million member base that we have access to through some of those organizations. And we see that starting to pay-off, we see an increase in our average daily transactions from last quarter, the fourth quarter of ’22 to the first quarter of ’23 so far to date. So we see those efforts paying off. We expect to be able to continue to mine that which again will help us as we grow. And anyway, we’ll continue to expand that portfolio, right with we’re going after the experts, we’re going after a lot of local capability, local providers. So as we improve that network and grow that network, you’ll see good results coming from those businesses.

Dan Figenshu: And EBG specifically, you may recall from the last quarter’s call that the emphasis for ’22 was to provide our flight content to them, right which we have provided for the most part on, on near of their platforms. And you may also record that the next stage in the evolution of that partnership was the reverse, right? It was for Mondee to start consuming EBG content like theme parks, tickets, events, et cetera, which required more time because it required the creation of new technology platforms. So that is what we have been working in the last few quarters, and we hope that in 2023, that element of the equation will start bearing results as well.

Mike Grondahl: Got it. Okay. Hey, good luck in ’23 guys.

Dan Figenshu: Thank you.

Prasad Gundumogula: Thank you.

Operator: Thank you. . And our next question is from the line of Jed Kelly of Oppenheimer. Jed, please go ahead.

Jed Kelly: Hey, guys. Great, thanks for taking my question and a nice quarter. Just a few, if I may, I sort of look at your revenue growth, transaction growth relative to other companies that are in the travel distribution space. You seem to be recovering quicker than a lot of them are. So can you talk about what sort of the underlying, what’s driving some of those underlying share gains? And then my second question, sort of as a follow-up, can you give us any metrics around the engagements of the travel agents using your platform relative to those same travel agents that are using other platforms? Thank you.