Serko to accelerate cash burn with North American push

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...

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