HomeToGo says it hit its best-ever month for booking revenues in July and is on target for adjusted EBITDA to break even by 2023.
Reporting its second quarter 2022 earnings, the Germany-based company says revenue increased 83% to €38 million year-on-year.
Adjusted EBITDA for the quarter was a loss of €6 million compared to a loss of €18 million in Q2 2021.
Online booking revenue in Q2 2022 increased to 57% of total booking revenue compared to 53% in Q2 2021.
Booking revenue for Q2 increased 10% to €46 million versus €42 million year-on-year.
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“The second quarter of 2022 marks incredible growth in terms of our strategic priorities and performance. This strong momentum continues into the current Q3 ’22, reaching the best month ever for booking revenues in July this year,” says Patrick Andrae, co-founder and CEO of HomeToGo.
“We are creating an unparalleled experience that drives increased customer engagement and deepens relationships with our travelers, while expanding our onsite offering and taking further strides to scale our 'Subscriptions & Services' business. We have a very clear roadmap in place to foster our path to adjusted EBITDA break-even by 2023, complemented by the already proven resilience of the vacation rental market and encouraging booking trends beyond the summer high season.”
The company confirmed its full-year outlook as an adjusted EBITDA loss of between €22 million and €32 million.
In June, HomeToGo announced that it had fully acquired SECRA, making the vacation rental technology supplier its third acquisition in 2022 after e-Domizil in March and AMIVAC in January.
Next month will mark a year since HomeToGo went public on the Frankfurt Stock Exchange via a business combination with Lakestar SPAC.