Financial Performance Overview

RateGain Travel Technologies Limited reported exceptional financial results for Q1 FY2027 ended June 30, 2026. The company achieved operating revenue of INR 785.0 Cr, representing a 187.6% year-over-year increase from INR 272.9 Cr in Q1 FY26.

Profitability Metrics

  • EBITDA: INR 171.5 Cr (+245.4% YoY from INR 49.7 Cr)
  • Adjusted EBITDA*: INR 193.4 Cr (+289.3% YoY from INR 49.7 Cr)
  • PAT: INR 94.9 Cr (+102.2% YoY from INR 46.9 Cr)
  • Adjusted PAT*: INR 116.8 Cr (+148.8% YoY from INR 46.9 Cr)

Margin Performance

  • EBITDA Margin: 21.9% (vs 18.2% in Q1 FY26)
  • Adjusted EBITDA Margin*: 24.6% (vs 18.2% in Q1 FY26)
  • PAT Margin: 12.1% (vs 17.2% in Q1 FY26)
  • Adjusted PAT Margin*: 14.9% (vs 17.2% in Q1 FY26)

*EBITDA and PAT are Adjusted for Deferred Deal Consideration related to the Sojern Acquisition. This expense is to be incurred for 3 years ending Q3FY29.

Cash Flow and Debt Position

Free Cash Flow stood at INR 135.2 Cr for the quarter, representing a free cash flow conversion of 78.8%. The company repaid 25% of its acquisition-related debt as of June 30, 2026, with net debt outstanding at INR 615.4 Cr. As of August 6, 2026, RateGain paid down a further USD 16.0 Mn and has effectively repaid 38% of the total loan taken out for the Sojern acquisition.

Performance Drivers

The quarter was driven by strong travel demand during the FIFA World Cup and a record quarter for new business in Asia-Pacific. The company's Destinations business benefited directly from destination marketing organizations expanding co-op marketing programs and jointly funded campaigns with travel partners to attract visitors around the tournament. The Asia-Pacific business delivered its strongest-ever quarter, led by record new property sign-ups on the Sojern platform and continued momentum in new bookings and client engagement.

Strategic Initiatives

RateGain continues to progress with the integration of Sojern, focusing on accelerating go-to-market motion and capitalizing on cross-sell opportunities across its combined customer base and geographic expansion. The company is deepening data partnerships with leading travel brands, extending the reach of its travel-intent data.

Management Commentary

Bhanu Chopra, Founder & Managing Director: Emphasized the company's focus on making AI the backbone of every commercial decision customers make, from pricing to distribution to marketing. Noted that together with Sojern, the company is focused on helping travel and hospitality businesses grow faster with sharper data and better decisions.

Ankit Aggarwal, Deputy Chief Financial Officer: Highlighted the strong conversion of EBITDA into cash, noting it provides room to keep investing in growth while staying firm on financial commitments. Expressed confidence heading into the rest of FY27.

Business Overview

RateGain works with 14,000+ customers and 700+ partners in 160+ countries, including 33 of the Top 40 Hotel Chains, 4 of the Top 5 Airlines, 7 of the Top 10 Car Rentals, and all leading OTAs and metasearch websites, including 25 Global Fortune 500 companies.