Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • In FY25, SKO’s revenue surged to NZD 90.5 million, up 27% YoY.
  • Booking.com for Business contributed significantly to the FY25 results, with completed room nights rising to 3.3 million.
  • SKO projects total income of NZD 115 – 123 million in FY26, backed by the trajectory in Booking.com for Business.

Online travel and expense management platform Serko Limited (ASX:SKO) operates across Europe, North America, New Zealand, Australia and internationally. In the financial year ended 31 March 2025, the company posted a 27% YoY rise in total income, reaching NZD 90.5 million, compared to NZD 71.2 million in FY24. Serko’s total spending increased by 10% YoY to NZD 92.7 million, while operating expenses climbed 20% to NZD 107.6 million in FY25.

During the reported period, the company reported a net loss after tax of NZD 22.0 million, which was partially offset by an NZD 5.2 million improvement in free cash flow, which stood at NZD -1.9 million, compared to NZD -7.1 million in FY24. Moreover, EBITDA improved by NZD 4.3 million.

Business Segment Growth

One of the key driver of Serko’s financial performance was Booking.com for Business. In FY25, this segment delivered significant numbers.

  • Completed room nights increased from 2.5 million to 3.3 million.
  • Active customers rose from 172,000 to 222,000, a 29% YoY increase.
  • Average revenue per completed room night dipped slightly to NZD 9.63, but volume growth more than offset the decline.

The company emphasised that its ongoing collaboration with Booking.com helped improve activation, onboarding, and engagement, and repeat booking.

In the Managed Travel segment, which services the Australasian market:

  • Online bookings rose from 3.9 million to 4.1 million, up 6% YoY.
  • Average revenue per booking jumped 12%, rising from NZD 5.73 to NZD 6.43.

Outlook

Looking ahead, Serko expects FY26 total income to range between NZD 115 million and NZD 123 million, backed by the trajectory in Booking.com for Business. The company expects spending to reach NZD 127 million to NZD 133 million.

Serko remains optimistic about the long-term opportunities in North America.

Share performance of SKO

SKO shares closed at AUD 2.630 on 21 July 2025, up 1.15% intraday. The stock has fallen 22.65% over the past year and declined 11.74% in the past three months. It is down 21.73% over six months and 24.64% year-to-date, although it rose 7.35% over the last nine months.

The 52-week high for SKO is AUD 3.600, recorded on 1 April 2025, while the 52-week low is AUD 2.450, hit on 22 October 2024.

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 21 July 2025. The reference data in this report has been partly sourced from EODHD/Others.

 

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.