SiteMinder (ASX: SDR) Delivers First Positive EBITDA and Cash Flow as Smart Platform Drives Growth

Key Highlights:

• SDR FY25 revenue surged 17.7% to $224.3m, with ARR up 30.6% to $273m.
• Subscription ARR increased by 19.3%, while Transaction ARR jumped 50.3% on Smart Platform momentum.
• Positive underlying EBITDA of $14.3m and free cash flow of $4.7m, both achieved for the first time.
• 5.6k new properties added, taking the total to 50.1k worldwide.
• CEO Sankar Narayan says execution validates the strategy as Smart Platform scales globally.
   

Revenue Acceleration on Smart Platform Success

SiteMinder Ltd (ASX: SDR) announced a landmark FY25, with its Smart Platform strategy delivering accelerating growth and profitability. SiteMinder's revenue rose 17.7% to $224.3 million, while Annualised Recurring Revenue (ARR) jumped 30.6% to $273 million, reflecting greater customer adoption and expanding hotelier partnerships.

Breaking it down, subscription revenue increased 13.6% to $139.1m, supported by strong property additions and improving customer economics, while transactional revenue surged 24.8% to $85.3m, driven by Smart Platform products such as Demand Plus and Channels Plus, both seeing rapid uptake.

From Channel Manager to Smart Platform Leader

What SiteMinder does:

SiteMinder is a global hotel commerce platform used by over 47,000 properties across 150 countries. It provides hotel operators with solutions to boost bookings, manage pricing, and enhance revenue. 

Key features include:  

• Channel Manager: Connects hotels to 450+ booking channels (OTAs, metasearch, GDS, hotel website), updating rates and availability in real time to reduce overbookings and boost reach. 
  
   
• Booking Engine (“TheBookingButton”): Lets hotels get direct, commission-free reservations through their own website, fully mobile-friendly and adaptable in over 20 languages.
  
   
• Metasearch & Global Distribution: Aggregates distribution across direct and third-party channel ecosystems. 
  
   
• Hotel Website Builder (Canvas): Simplifies building and managing hotel websites, integrated directly with booking and business analytics. 
  
   
• Payment Processing: Secure, in-platform payment validation, refunds, and management—streamlining guest experience and operations. 
  
   
• Business Intelligence Tools (“Prophet”): Delivery of real-time market data and analytics to inform smarter pricing, marketing, and operational decisions. 
  
   
• Dynamic Revenue Plus: A mobile-first revenue management solution using IDeaS analytics, offering real-time pricing metrics and inventory adjustments driven by demand patterns.
  
   
• Extensive Integrations: API-enabled ecosystem connects with 1,500+ apps and expert partners, including PMS, RMS, upsell tools, and more.  

First-Ever Positive EBITDA and Free Cash Flow

For the first time since its inception, SiteMinder delivered positive underlying EBITDA of $14.3 million and free cash flow of $4.7 million, marking a turning point for the Sydney-based hotel software provider. The result reflects strong operating leverage, improved margins, and efficiencies gained through AI-led tools .

Reported EBITDA came in at $7.1 million after restructuring and legal costs, while the net loss narrowed to $17.2m underlying, improving from $24.2m in FY24.

Expanding Global Hotelier Base

The company has further added 5,600 properties during FY25, bringing its total to 50,100 properties globally. Importantly, the focus on larger hotels with higher transaction volumes is paying off, with Lifetime Value/Customer Acquisition Cost (LTV/CAC) improving from 5.4x to 6.2x.

CEO Sankar Narayan highlighted that execution on Smart Platform initiatives has validated SiteMinder’s business model:

Smart Platform Scaling in FY26

All three pillars of the Smart Platform — Smart Distribution Program, Channels Plus, and Dynamic Revenue Plus — were commercially launched in FY25 and are now set to scale in FY26.

• Channels Plus has become the most successful product launch in the company’s history, with 4,000+ properties and 40 distribution partners signed up.
• Dynamic Revenue Plus, integrated with IDeaS, is delivering dynamic pricing and localised demand data.
• The Smart Distribution Program has begun to show measurable commercial outcomes for both hoteliers and distribution partners.
  
   

The company has outlined ambitions to grow its revenue by 30% in the medium term, underpinned by a commitment to strong profit controls.

Market Reaction

Investors cheered the result. As of 1:34pm AEST on 27 August 2025, SiteMinder shares (ASX: SDR) traded at A$6.71, up 23.1% on the day, bringing its market cap to $1.88 billion.