Serko Limited (NZX/ASX: SKO) has provided an update on trading conditions, reporting that Covid-19 and its variants have caused disruption to business travel globally and have resulted in a reduction of expected revenues for the full-year to 31 March 2022.
Serko undertook a capital raise in 2021 to ensure it had sufficient capital to continue to innovate its global offering and acquire new customers.
In response to the ongoing volatility of Covid-19, Serko has adjusted its guidance range for revenue for the full-year to between NZ$18 million and NZ$20.5 million.
The average monthly cash burn in the six months to 31 March 2022 is expected to be close to $4 million.
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