Serko to accelerate cash burn with North American push

By Pattrick Smellie | Wed, 20 Nov 2019


Business travel software firm Serko expects to accelerate cash burn in the second half of the current financial year, using proceeds from a capital raising to push hard into the North American market.The company announced a $900,000 net loss for the six months to Sept. 30, compared with a net profit of that size in the same period last year. A 46 percent surge in operating expenses helped overwhelm a 29 percent increase in total operating revenue of $14.7 million for the half.Auckland-based Serko last month announced not only that its $40 milli...