Mondee Holdings, Inc. (NASDAQ:MOND) Q3 2023 Earnings Conference Call November 14, 2023 8:30 AM ET

Company Participants

Jeff Houston - Senior Vice President

Prasad Gundumogula - Founder, Chairman & Chief Executive Officer

Jim Dullum - Chief Operating Officer

Orestes Fintiklis - Executive Vice President

Jesus Portillo - Chief Financial Officer

Conference Call Participants

Darren Aftahi - ROTH MKM

Brett Knoblauch - Cantor Fitzgerald

Mike Grondahl - Northland Securities

Operator

Good day, and welcome to the Mondee Third Quarter 2023 Earnings Conference Call. Please note, this event is being recorded. [Operator Instructions] I would now like to pass the conference over to Jeff Houston, Senior Vice President. Jeff, please go ahead.

Jeff Houston

Thank you, Bailey. And good morning to everyone. Welcome to Mondee’s third quarter 2023 conference call.

With me today is Founder, Chairman and CEO, Prasad Gundumogula; and Chief Financial Officer, Jesus Portillo, Executive Vice President, Orestes Fintiklis; and Chief Operating Officer, Jim Dullum will present our results and be available for questions-and-answers.

Before we begin, I would like to remind everyone that this call may contain forward-looking statements, including statements about revenue, growth of our business, our management and government’s plans and other non-historical statements as further described in our press release. These forward-looking statements are subject to certain risks, uncertainties and assumptions, including those related to Mondee’s growth, the evolution of our industry, our product development and success, our management performance and general economic and business conditions. We undertake no obligation to revise any statements to reflect changes that occur after this call. Descriptions of these and other risks that could cause actual results to have a material difference from these forward-looking statements are discussed in our reports filed with the SEC and in our press release that was issued this morning.

During the call, we also refer to non-GAAP financial measures. Reconciliations of the most comparable GAAP measures are also available in the press release, which is available at investors.mondee.com.

With that, it’s my pleasure to turn it over to Prasad.

Prasad Gundumogula

Thank you, Jeff. We are thrilled to welcome everyone to Mondee’s third quarter 2023 earnings call to discuss our results and significant developments. Our robust results have been driven by a reasonably strong lease and travel demand, combined with our market-leading technological accomplishments and market share gains as well as enhancements to our monetization strategies.

As we get into the details of our results, it is important to note that at the start of the quarter, we divested LBF US, an underperforming non-core B2C air business unit, which we have owned since 2019.