Key Highlights

  • SiteMinder reported FY26 ARR of $313.7 million and revenue of $266.1 million, up 24.1% and 22.0% respectively on a constant-currency organic basis.
  • Adjusted EBITDA was $28.1 million, up 96.5%, and the reported net loss narrowed to $11.3 million from $24.5 million.
  • The company expects FY27 adjusted EBITDA margin to expand and ARR growth in the 20s.

SiteMinder Ltd (ASX:SDR) shares were priced at $2.70 during the trading session on 19 October 2026, down 0.74%. SiteMinder provides a software platform for hotels, covering distribution, revenue and payments products. On 25 August 2026, the company released its FY26 results announcement, covering financial results, the Smart Platform, adjusted free cash flow and an outlook through FY30. The price data relates only to the 19 October 2026 session and is separate from the release date.

FY26 financial results

ARR was $313.7 million, up 24.1% on a constant-currency organic basis and 14.9% on a reported basis. Subscription ARR was $169.4 million and transaction ARR was $144.3 million. Revenue was $266.1 million, up 22.0% on a constant-currency organic basis and 18.6% as reported, with subscription revenue of $155.2 million and transaction revenue of $110.9 million.

Adjusted EBITDA was $28.1 million, up 96.5%, with the margin expanding 419 basis points to 10.6%. Reported EBITDA was $24.4 million, compared with $7.1 million in FY25. The reported net loss was $11.3 million compared with $24.5 million, and included $3.8 million of restructuring and other costs. Adjusted free cash flow was $10.5 million, up from $4.7 million.

Smart Platform and customer metrics

The number of transaction products adopted grew 29.7% to 45.4 thousand. Dynamic Revenue Plus supports more than 50 thousand rooms, more than double the first-half level, and Channels Plus grew from 7 thousand hotels to almost 10 thousand. Net property additions were 5.9 thousand, bringing total properties to 56.0 thousand, and ARPU rose 9.3% on a constant-currency organic basis.

The company noted that more than 85% of customer billings are in currencies other than the Australian dollar, so a higher Australian dollar reduced reported revenue and profitability. It also cited softer global travel conditions and geopolitical uncertainty during the year.

Medium-term outlook

For FY27, the company expects its adjusted EBITDA margin to expand meaningfully, with ARR growth in the 20s on a constant-currency organic basis supporting revenue growth. For FY30, it expects the adjusted EBITDA margin to reach the mid-20s and ARR to grow at a compound annual rate in the 20s from FY26 closing levels, on the same basis.

The company states that subscription and transaction ARR growth rates have exceeded 15% and 30% respectively in each of the past three years, and that adjusted EBITDA improved by more than $50 million over that period.

Further FY26 detail

Adjusted net loss was $7.6 million, compared with $17.2 million in FY25. Subscription ARR rose 6.6% on a reported basis to $169.4 million and transaction ARR rose 26.5% on a reported basis to $144.3 million. The company said it achieved the result while continuing to invest in the Smart Platform and described its Smart Distribution Program as continuing to contribute to partner outcomes. Average revenue per user rose 5.9% on a reported basis.

Sector backdrop

Hotel technology providers offer property management, distribution and revenue tools that are influenced by travel demand, booking volumes and the number of properties on their platforms. SiteMinder reports in Australian dollars but earns most billings abroad, so constant-currency measures are used alongside reported figures. Transaction-based products add a revenue stream that depends on hotel booking activity, while subscription products provide recurring fees, so the release reports the two ARR types separately.

Risks shareholders should weigh

The press release and the wider operating environment point to several considerations that shareholders may wish to weigh:

  • The company reported a net loss of $11.3 million, and its adjusted EBITDA margin was 10.6%, with FY30 margin targets in the mid-20s still ahead.
  • A higher Australian dollar affected reported revenue and profitability, and reported growth rates were lower than constant-currency rates.
  • The release cites softer global travel conditions and heightened geopolitical uncertainty, which can affect transaction volumes.
  • Transaction ARR growth was 37.1% on a constant-currency organic basis, against 48.3% in the prior year, so growth rates for that product are comparing against higher bases.
  • Medium-term outlook figures for FY30 are targets that rely on continued product adoption and cost discipline.

What's next

The company expects its adjusted EBITDA margin to expand meaningfully in FY27 and ARR growth in the 20s. For FY30, it targets a mid-20s adjusted EBITDA margin and ARR compound growth in the 20s. Continued investment in the Smart Platform, including AI-powered capabilities and internal workflow initiatives, is described as supporting FY27.