SiteMinder (ASX:SDR) reports Q3 FY24 revenue growth and expanded partnership with Trip.com

SiteMinder reported a near breakeven in underlying free cash flow for the third quarter of FY24 and an expanded partnership with Trip.com Group.

The hotel booking software company's revenue increased 23.3% year over year to $46 million, driven by DemandPlus.

Annualised recurring revenue rose 24.8% yearly to $187.6 million, with continued subscriber growth.

In the three months ended March, underlying free cash flow was negative $200,000, while underlying operating cash flow increased to $5.1 million.

The Channels Plus pilot, involving approximately 1,000 hotels, will extend until the first half of FY25.