Key Highlights

• Adjusted EBITDA increased 96.5% to $28.1 million, with the Margin expanding 419 basis points to 10.6%

• ARR grew 24.1% on a constant-currency and organic basis to $313.7 million

• The Smart Platform, including Dynamic Revenue Plus and Channels Plus, accelerated adoption during the year

• SiteMinder targets mid-20s adjusted EBITDA margins by FY30 with ARR growing at a CAGR in the 20s

Shares of SiteMinder(ASX:SDR) traded at A$3.60 during the Trading session on 05 November 2026, rising 7.14% on the day. The broader S&P/ASX 200 index (XJO) climbed 2.61%, adding 230.60 points to reach 9,065.10, while the S&P/ASX 200 Information Technology index (XIJ) advanced 10.09%, gaining 164.80 points to 1,797.60. Overnight Wall Street gains following the Democrats' decisive victory in the U.S. midterm elections acted as a tailwind for global Equity markets. SiteMinder is an ASX-listed hotel commerce platform that provides cloud-based distribution, revenue management, and booking technology to more than 56,000 hotel properties across the globe.

Revenue and Profitability Turnaround

SiteMinder reported revenue of $266.1 million in FY26, an increase of 22.0% on a constant-currency and organic basis, or 18.6% on a reported basis. The company noted that a strengthening Australian dollar adversely affected reported revenue and profitability, given that more than 85% of customer billings are denominated in currencies other than the AUD. Adjusted EBITDA reached $28.1 million, nearly doubling from the prior year, with the margin expanding from 6.4% to 10.6%. Adjusted free Cash Flow more than doubled to $10.5 million, and the reported net loss narrowed by more than half to $11.3 million from $24.5 million in FY25. Available funds stood at $61.6 million, comprising $31.6 million of cash and a $30.0 million undrawn Debt facility.

ARR Growth and Product Adoption

ARR increased 24.1% on a constant-currency and organic basis to $313.7 million. Transaction ARR grew 37.1% despite cycling a 48.3% growth comparison in the prior year, while subscription ARR rose 15.1%. The company added 5,900 net new properties during the year, bringing total properties to 56,000. ARPU increased 9.3% on a constant-currency basis to $429, driven by increasing Smart Platform adoption and deeper product penetration. LTV/CAC expanded from 6.2x to 6.6x as lifetime value growth outpaced customer Acquisition cost increases.

Smart Platform and AI Integration

Momentum across the Smart Platform accelerated materially during FY26. Dynamic Revenue Plus now supports more than 50,000 rooms, more than double the first-half level, with hoteliers benefiting from new AI-powered capabilities including predictive Demand analytics. Channels Plus grew from 7,000 hotels at mid-year to nearly 10,000 at year-end. The company also launched SiteMinder Powered, a new Partnership model enabling leading hotel systems, with Mews as the inaugural partner, to embed SiteMinder's distribution capabilities directly within their platforms. AI is being deployed across internal workflows to improve efficiency and scalability, and the company partnered with DirectBooker to enable AI-powered booking experiences.

Sector Context

The ASX technology sector experienced a broad-based rally on 05 November 2026, with the Info Tech index recording its largest single-day gain in recent memory. Travel technology stocks participated in the rally alongside the wider tech sector, benefiting from improved global risk sentiment following the U.S. election results. SiteMinder's performance was consistent with this sector tailwind.

Risks

Currency headwinds remain a material Factor for SiteMinder, with the majority of revenue earned in non-AUD currencies. Global travel demand remains susceptible to geopolitical events and macroeconomic uncertainty. The company continues to report a net loss, and the path to GAAP profitability is contingent on sustained revenue growth and margin expansion. Execution risk around the Smart Platform rollout and the ability to convert free-tier or trial users into paying customers also requires ongoing monitoring. Restructuring costs of $3.8 million in FY26 suggest ongoing operational changes.

Catalysts on Watch

The pace of Smart Platform adoption, particularly Dynamic Revenue Plus and Channels Plus, will be a key metric in FY27. The company's ability to expand adjusted EBITDA margins meaningfully in FY27, as guided, could mark a turning point in the profitability narrative. New AI-powered capabilities planned for FY27, including optimisation features beyond pricing, may drive incremental transaction revenue. The SiteMinder Powered partnership pipeline beyond Mews could expand the platform's distribution reach. Progress toward the company's mid-20s EBITDA margin target by FY30 will be closely tracked.

What It All Means

SiteMinder enters FY27 with consistent growth metrics across three consecutive years of subscription ARR growth above 15% and transaction ARR growth above 30% on a constant-currency basis. The company has improved adjusted EBITDA by more than $50 million over that period, moving margins from negative 14.5% to positive 10.6%. With a guided trajectory toward mid-20s margins by FY30 and continued Smart Platform momentum, the company is positioned at an inflection point between high-growth and sustainable profitability.