Mondee Holdings, Inc. (NASDAQ:MOND) Q2 2024 Earnings Conference Call August 14, 2024 8:30 AM ET

Company Participants

Jeff Houston - SVP
Prasad Gundumogula - Founder, Chairman and CEO
Jesus Portillo - CFO
James Dullum - COO
Orestes Fintiklis - Executive Vice Chairman

Conference Call Participants

Mike Grondahl - Northland Securities
Thomas Shinske - Cantor Fitzgerald
Dillon Heslin - ROTH Capital

Operator

Good day and welcome to the Mondee Second Quarter 2024 Earnings Conference Call. Please note this event is being recorded.

I will now like to turn the conference call over to Jeff Houston, Senior Vice President. Jeff, please go ahead.

Jeff Houston

Thank you, Carla and good morning to everyone. Welcome to Mondee’s second quarter 2024 conference call. With me today is our Founder, Chairman, and CEO, Prasad Gundumogula; and Chief Financial Officer, Jesus Portillo. Executive Vice Chairman, Orestes Fintiklis; and Chief Operating Officer, Jim Dullum will present our results and be available for questions-and-answers.

Before we begin, I'd like to remind everyone that this call may contain forward-looking statements, including statements about revenue, growth of our business, our management and governance plans, and other 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 Securities and Exchange Commission and in our earnings press release that was issued this morning.

Forward-looking statements are based on expectations that involve risks and uncertainties that could cause actual results to differ materially. Listeners are caution to not place undue reliance on any forward-looking statements.

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. Good morning, good afternoon, and good evening everyone and welcome to Mondee’s second quarter earnings call to discuss our results and significant developments.

We are very pleased to report a strong second quarter with growth in net revenue, take rate, and adjusted EBITDA, the latter by 38% year-over-year. We also announced the much-anticipated refinancing of our term loan and preferred equity at favorable terms that will position the company for long-term success.