Mondee Holdings, Inc.

Good day and welcome to the Monday fourth quarter 2023 earnings conference call. Please note this event is being recorded. I'd now like to turn the conference call over to Jeff Houston, Senior Vice President. Jeff, please go ahead.

Thank you, Elliot, and good morning to everyone. Welcome to Monday's fourth quarter and full year 2023 conference call. With me today is Founder, Chairman, and CEO Prasad Gundamundala and Chief Financial Officer Jesus Portillo. Executive Vice Chairman, Aristis Venticulus, and Chief Operating Officer, Jim Dunham, will present our preliminary, unaudited results and be available for questions and answers. Before we begin, I'd like to remind everyone that this call may contain forward-looking statements, including statements about revenue growth of our business, our management and governance plans, and other non-historical statements as further described in our press release. These forward-looking statements are subject to certain risks, uncertainties and assumptions, including those related to Maundy's growth, the evolution of our industry, our product development and success, our management performance, and general economic and business conditions. I would also like to point out that the fourth quarter and full year 2023 results are preliminary and subject to final audit. We undertake no obligation to revise any statements to reflect changes that occur after this call. Descriptions of these and other risks that could cause actual results to have a material difference from these forward-looking statements are discussed in our reports filed with the Securities and Exchange Commission and in our earnings press release that was issued this morning. Forward-looking statements are based on expectations that involve risk and uncertainties that could cause actual results to differ materially. Listeners are cautioned not to place undue reliance on any forward-looking statements. During the call, We also refer to non-GAAP financial measures. Reconciliations of the most comparable GAAP measures are also available in the press release, which is available at investors.mondi.com. With that, it's my pleasure to turn the call over to Prasad.

Thank you, Jeff. Good morning, good afternoon, and good evening, everyone, and welcome to Mondi's fourth quarter and full year 2023 earnings call to discuss our results and significant developments. We are pleased to report that net revenues and adjusted EBITDA for 2023 surpassed full year guidance with Q4 and full year 2023, the highest on record in the 13 year history of Monty for both metrics. 2023 gross bookings of 2.6 billion grew 19%. Net revenues of 222.3 million grew 39%. 2023 adjusted EBITDA was 21 million, another record and almost double 2022's level. This strong year-over-year growth was fueled by product and geographic expansion of our marketplace, industry-leading technology advancements, and sustained leisure travel demand. This translated into gross bookings growth and take rate expansion. which has doubled since pre-pandemic levels to 8.7% in 2023, up from 7.4% in 2022. In the fourth quarter, take rate was nearly 10%. Looking into the future, we are focused on achieving the following near and long-term goals. Enhance profitability and free cash flow. We will achieve this through sustained transaction volume growth, take rate improvements, and implementing cost control measures. Expand travel marketplace. Our marketplace is growing in terms of geography, products such as packages, hotels, events, and activities, as well as new distribution partners. Indicatively, Bondi's entire business pre-pandemic was air only. Whereas for 2023, air only represented only 57%, while hotel, packages, fintech and other represented 43%. In terms of origination geography during 2023, Mondi expanded within North America and into South America. Maintain technological leadership in AI. Mondi remains committed to being a leader in travel industry AI. Our significant investments in Abhi, the first AI-powered travel platform launched in mid-2023, have established a strong foundation. We are continuing to innovate and push the boundaries of AI in travel. Moreover, as Jesus will detail later, the company is focusing on optimizing its capital structure in the coming months with a new long-term loan facility. As an initial step, we have extended the maturity of our current term loan to March 31st, 2025. I now turn the floor over to Jim Dellum, MonDIS Chief Operating Officer, who will discuss market trends and MonDIS marketplace expansion. Jim, over to you. Thanks, Prasad.