Airline ecommerce solutions company Datalex has managed to narrow its adjusted EBITDA losses in 2023 to $2.9 million, an improvement upon its adjusted EBITDA loss of $5.3 million in 2022. Its loss after tax narrowed from $11.5 million in 2022 to $9.1 million in 2023.
Revenue was up 23% year on year to $28.9 million in 2023. Its cash as of December 31, 2023, totalled $5.8 million. Total operating costs before exceptional items was up slightly to $35.3 million in 2023 versus $35 million in 2022.
""A significant step in 2023 was the renewal of our partnerships with Air China, Air Transat, JetBlue, Edelweiss and Aer Lingus,"" said Datalex CEO Jonathan Rockett. ""In addition to these renewals with existing customers, the Group entered into new partnerships with LATAM Airlines and Air Macau in 2023. Another highlight was EasyJet going live with our Merchandiser product – being the start of a multi-year activation project.""
The company said 2024 will see a strong recurring revenue base with strong growth expected as new customers are activated.
""We have a number of transformation projects continuing in 2024 and 2025 for our new and existing customers. These projects are important steppingstones to unlock value for our customers and for Datalex,"" Rockett added.
It said that as go-live milestones are achieved, higher margin platform revenue will likely drive revenue growth. It is expected for this growth to be more prominent in 2025.
Datalex narrows loss to $3 million in 2023
