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

Dan Figenshu: Okay, so I’ll take the first question. So the reason that you see our net revenues growing faster than the market is because our recovery is not, it’s not market driven. There is an element of market recovery, but there are much, there are other dynamics that are going on here. The first one is that we are increasing market share, right which you have seen. I mean, there are a few slides in our decks, you can see how the growth that we’ve had historically, and we continue on that positive trajectory. So that’s the one element that is important. The second element that is important, as you know, the segment of the market we disrupted was the flight consolidated market, it is $70 billion market in North America, and now we’re expanding beyond that.

We discussed hotels, we discussed cruises, we discussed other content. So as we disrupt adjacent segments, not only we’re growing our market share in our main market, but we are increasing our market share in markets that were prior, previously not there, right? Thirdly, we grow geographically both organically and with M&A and then last but not least, our technology is an important driver because this is even on the same, on the same growth revenues, we are realizing much more net revenues because of the higher tech rate, which is a result of FinTech, InsureTech, MarTech, all these solutions which are powered by this very unique technology that we have. And then last but not least, we feel that we are in a segment. We are serving the needs of the new consumer, which are currently not being adequately addressed by the platforms that are out there.

We have made the point many times that the solutions out there, they are mostly catering with 90s based technology, to the Boomers and the Gen X. So now the new generations, the Gen Z, and the Millennials, they have completely different needs. They have different ways of making decisions on how they consume travel. Very much in line with how e-commerce is consumed with social media, with mobile apps. And we feel that the technology that we have been developing and we are developing is more in line with this generational shift. And that explains, partially also the exponential growth that we feel we will be enjoying in the foreseeable future.

Jim Dullum: Jed, it’s Jim. Let me just add on to sort of the second part of your question. With the travel intermediary marketplace in general, right, the travel agents, the experts, the local providers, et cetera. I mean, look, we believe we have the most tech forward platform out there, and it has been, we also believe the most comprehensive platform and everything we’ve talked about, and you’ve seen us publish, say, we’re just continuing to build and expand on that, right? The breadth of services starting with just flights and the richness of that content and adding to it. So with that sort of very tech forward, very user friendly platform for that intermediary customer. I mean, our penetration has been great and it’s even bigger with sort of that Gen Z and the gig economy side of that market, which is just burgeoning now.

So, the platform continues to penetrate, we think it is one of the dominant platforms out there, and everything we’re doing is intended to only make that better. So we have big plans for that. You see that we announced the launch of our affiliate program. And that affiliate program is simply to put an exclamation point on all of that effort. We’re going to allow our affiliates to have even deeper and richer access to all of our technology, all of our tech features as Orestes just covered, and be able to service their clients so much better. So, those things just are drawing the market to us. And we will continue to very aggressively pursue that, that segment, that intermediary segment and the penetration of it.