Serko’s losses grow as investors cool on growth stocks

CEO Darrin Grafton said the global travel recovery was making steady progress. (Photo: Serko)

Wed, 18 May 2022

Travel booking software company Serko has reported a net loss of $36 million in the 2022 financial year, widening 22% from the prior period. This wasn’t an accident – Serko has increased its spending as it chases customer and revenue growth. Total income increased 12% to $18.9m and booking volumes rose 67% to 2.2m.Chief executive Darrin Grafton said the business has been focused on catching “the wave of global travel recovery”.That wave is coming more slowly than some had hoped. Travel volumes in Australia and New Z...

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